Brand building is no doubt the foundation of every successful business in this modern era of service orientated economy. Many companies with quality products and services have struggled to survive the competition just because they have failed to … [Continue reading]
HOW TO ACQUIRE ACCOUNTING INFORMATION SYSTEM (AIS)
The decision to acquire accounting information system has become strategic in nature and now requires carefully planned and well thought out processes if a company is to succeed in it. Corporations spend huge amount of money on acquiring AIS but … [Continue reading]
BUSINESS SOCIAL INTELLIGENCE IS A VITAL CONTRIBUTOR TO SUSTAINABLE STRATEGY DEVELOPMENT
Business social intelligence is a relatively new strategic paradigm that most successful companies are now turning their attention to. The fact that social media has come to stay is no longer news. Philip Kotler, a marketing icon years ago predicted … [Continue reading]
WHAT IS ACCOUNTING ETHICS?
Accounting ethics is a body of good practices that is based on good conscience which accounting professional bodies promote. Professional accounting bodies like ACCA require that you complete an online accounting ethics module in order to be … [Continue reading]
LIMITATIONS, DISADVANTAGES AND DRAWBACKS OF RATIO ANALYSIS
Limitations of ratio analysis are those characteristics of ratio analysis that acts as drawbacks when using ratios to get value added insights. Ratio analysis which is a powerful tool used by business stakeholders like management, investors, … [Continue reading]
HOW TO BECOME A FORENSIC ACCOUNTANT
The continuous rise in accounting fraud and other traditional frauds have recently placed high demand in the services of forensic accountants and their services. This increased demand for qualified accountants that specialises in investigative … [Continue reading]
ONLINE ACCOUNTING DEGREE IS THE BEST OPTION FOR ENTREPRENEUR
Online accounting degree is one of the best and easiest options for entrepreneurs to get the all important accounting skill that is needed to be successful in managing businesses to greater and enviable height. Research has shown that successful … [Continue reading]
WHAT IS STRATEGIC BUSINESS ANALYSIS?
Strategic business analysis are those actions and decisions made by management while trying to understand the impact of strategic events like: introduction or development of new product line, setting up a factory in a new location, employing key … [Continue reading]
WHAT IS AUDIT RISK ASSESSMENT?
It is no longer news that risk based approach to auditing has come to stay. Risk based auditing is the concept of basing the overall auditing procedures on the foundation that is built through the application of audit risk assessment and procedures. … [Continue reading]
What is Management Accounting Control System?
Management accounting control systems (MACS) is the collective processes that helps in fine tuning the best method of managing complex variables including managers and employees. The primary aim of MACS is to supports the application of underlying … [Continue reading]
Management Accountant’s Role in Business Implementation Strategies
Management accountants are professional accountants that specialise in providing managers insightful information used in making important economic decisions. Part of the functions of management accountants is to act as scorekeepers that keep an eye … [Continue reading]
WHAT IS SENSITIVITY ANALYSIS?
In this article, an attempt is made to provide an answer to the question; what is sensitivity analysis in a very simple and non technical manner. An all encompassing approach is taken to accommodate people of different understanding of the subject … [Continue reading]
ACCOUNTANTS AND THE USE OF FREE ACCOUNTING SOFTWARE
Accounting software is a set of codes that recognises basic accounting principles when items are entered into the interface that is provided by the developer of the software. Sage accounting software for instance uses what is called nominal code to … [Continue reading]
WHAT VALUE DO ACCOUNTANTS ADD TO SMALL BUSINESSES?
The value of a small business largely hinge on the quality of business advisors that input into the decision making process of an organization. An accountant being the professional finance communicators that fluently speaks the language of businesses … [Continue reading]
HOW TO MANAGE PRIVACY RISK IN CLOUD ACCOUNTING
There is no doubt that cloud accounting has begun to find its way into the heart of many board members of corporations. This embracement of outsourcing a company’s accounting services to vendors has brought considerable privacy risks with it that … [Continue reading]
HOW TO GET ACCOUNTING JOB WITHOUT RELATED WORK EXPERIENCE
Getting accounting job as a fresh graduate accountant with no experience is one of the most difficult challenges that you must deal with as a university or other higher education study graduate. You will be competing with both graduates and people … [Continue reading]
IMPORTANCE OF CHANGE MANAGEMENT IN SUSTAINING THE GROWTH OF A BUSINESS
It was a surprise to me when I was speaking to regional controller of one of the most respected food processing company in Glasgow, UK who still does not appreciate the importance of having an efficient change management process (CMP) in the company. … [Continue reading]
COMPONENTS OF ACCOUNTING INFORMATION SYSTEM (AIS)
Accounting information system (AIS) as a sub system of the overall business systems has some components that make it what it is. I have seen some articles on the web where the following; computer, accounting software, scanners and printers are given … [Continue reading]
What is Corporate Governance?
Corporate governance in simple language is a phrase used to describe how businesses are directed, managed and controlled. It is the collection of sets of best practices that help stir the affairs of a company. Forces coming from the government and … [Continue reading]
WHAT IS RATIO ANALYSIS? IMPORTANCE, USES AND SIGNIFICANCE OF RATIOS
Every trade has sets of tools that are used by professionals in that trade so as to deliver on their promises. Ratios are quantitative tools that finance professionals use to analyse sets of financial information. A financial planner or analyst for … [Continue reading]
INTEGRATING STRATEGIC RISK MANAGEMENT INTO THE FABRICS OF BUSINESS PROCESSES
Conventional enterprise risk management strategy has been well studied, researched and implemented as evidenced by the decent success that most enterprises now enjoy in handling risks that are not strategic in nature. In today’s business environment, … [Continue reading]