Economic crime and fraud continually make headline news. People tend to be resorting to economic crime and fraud in order to cushion the effects of the economic global crisis. A lot of managers have lost hope as most of these frauds and economic crimes are committed and perpetrated by insiders. This then presupposes that economic [...]
Accountants no doubt are the most qualified communicators in the business world. Accountants are trained to be communicators specializing in communicating financial information in a language that is understood by all and sundry. The information must meet the requirement of information for it to be termed so. Some of the features of anything that must [...]
Business risks are those factors (both controllable and uncontrollable) with the potential of having an outcome that can affect business operations and ultimately affect profitability. Handling business risks of pandemic is a business continuity plan that most company and their executives didn’t take serious in the past. But the reoccurrence of these pandemic are beginning [...]
IMPORTANCE OF ACCOUNTING/ ACCOUNTANCY Accounting/ accountancy is no doubt the universal language of business and figure. Those that fluently speak the language are called accountants. The importance of accounting and accountancy cannot be over-emphasized. Imagine what this world would look like if all means of communication are removed from our daily activities. The world would [...]
Help reduce bankruptcy and business failure? Consistently add more value to the business community? Reduce fraud and irregularities Become better consultants and business advisors Meet the new business needs Restore credibility and public confidence to the accounting professional Safeguard our environment The above question and many more are what kept coming to my [...]
An investment accountant is that finance specialist that is saddled with the responsibility of keeping track of the investments of an individual or an entity. They ensure that funds sourced for investments and proceeds from already invested finance are properly accounted for. Also, it is the duty of the investment accountant to ensure that relevant [...]
Investment appraisal is one area of the study of finance that has a lot of misunderstood terms. Here are 22 of those terms and there meaning in common language that can be understood by everyone. The terms to be explained are listed below followed by brief explanation of the term IRR; IRR stands for Internal [...]
Accounting can be said to be a process that collects, collate, record, analyse, interpret and communicate financial information to end users in the form/ format that they will understand. Accountancy is the only language that businesses all over the world understand. And for you to be a better business person, you have to know how [...]
Accounting information system has redirected the direction of accounting profession. Traditionally, accountants were seen as business and audit specialist whose only duty is to keep records of things that has already happened in the past. Accounting in those days was classified into; cost accounting, financial accounting and management accounting. People see accountants then as [...]
While surfing the net, i stumbled upon this article on credit card calculator written by Robin Williams. Happy reading! If you have piled up a huge amount of credit card debt and want to know how long it would take to become debt free by making a specific monthly payment, you need to use a [...]
Recall that an introduction to this article was given in the part one of this series. Hence, no further introduction would be made here. Our aim here is to explore the various investment technique needed by everyone in a simple manner that you will have no difficulty comprehending the concepts. BINGO!!! Payback period Payback period [...]
You will agree with me that finance is the life blood of every business; big or small. Debt and equity finance are two main categories of sources finance that a company can use. While big and established firms find it relatively easy to raise finance, small firms find it more difficult to raise fund/finance [...]
Business gearing and financial gearing are terms used to explain the volatility of a company and its activities. While the business gearing measures the risk that a company will fail as a result of not making enough contribution to cover for its fixed cost, financial gearing on the other hand is used to measure the [...]
Sources of finance simply mean various reliable ways by which a business can raise money for the running of business activities without much friction. Majority of businesses out there are often hindered by lack of finance to execute vibrant projects that will otherwise contribute positively to the bottom line of the company. This is not [...]
Any business that neglects taking advantage of investment opportunities will soon find its way to bankruptcy. As important as this may be, many businesses, especially small business fail to make optimum investment as a result of shortage of cash. The situation of cash shortage that leads to the rejection of financially sound investments is [...]
Investment appraisal is not all about financial factors. There are non-financial factors that plays significant role in making any meaningful investment decision. In fact, most of those non-financial factors act as backbone that will either make or mare the investment if taken. Below are some of those non-financial factors: • Climatic Issues. Green activities has [...]
This article is all about investment and its potential of breaking poverty in your linage forever. There are families that have been living in a vicious cycle of poverty. This class of people has resorted to blaming fate for their misfortune. They have this believe that nothing can make them come out of this dead [...]
MEANING/ IMPORTANCE A business plan is a written document that helps; entrepreneur, employees, partners, managers, vendors, management, lenders (banks), suppliers etc gain a better insight into the direction a business is going or will go. Any kind of business needs a plan – no matter how small or big the business might be. A business idea [...]
Investment appraisal has never been made so simple before, especially for non-financial managers
Firstly, I would like to congratulate you for taking the bold step of registering for an Accounting professional exam. Accountancy is undoubtedly one of the most respected professions in the world. – Although a kind of difficult to get into the folks, but once you are there, you are already in the super-high way to [...]
Sitting still is one of one the greatest enemy of human race. You immediately become ‘obsolete’ the moment you stop learning. Though learning can be done in any form (formal and informal), our system (employers) today tend to favour the formal learning more. Nobody wishes to be stagnant water, because stagnant water smells. This is [...]
The success of every business hinges on its strategies. Strategies are those courses of action, including the specific objective and business ethics. For a business to succeed, it must have a business strategy – a large scale, future oriented plans for interacting with the competitive environment to achieve company objectives. These will ensure that the [...]
What you are about to read in this article is the summary of the technique I used to boost the sales of one of my clients by 72% within two months in August 2009. It is a simple yet powerful human ingenuity. Grin-grin was the cry of my phone on the 4th day of may [...]
Sickness, Stress, pain, poverty, suffering, hatred, wickedness etc all sucks a great deal of life out of us. But none of these is to be compared to the damages that lack of humor can cause in our life. Imagine when LIFE itself becomes the SUCKER. In this article are those things that can make you [...]
Outsourcing has become a global business necessity in implementing the twenty-first century strategy. This is the mechanism that allows organizations to transfer the delivery of services to third parties. Outsourcing is simply obtaining work previously done by employees inside the companies from sources outside the company. i.e running of a modular company/ organization. A modular [...]
There are things that only we can do for our self. One of these things include financial management. It does not matter your: profession, educational background, how much you have etc., the truth is that finances are the life blood of every Human being. It is not my intention to bother you with some accounting [...]
