The tips on how to become a better accounting and finance manager that you are about to read in this article are what has worked for me as an accounting and finance manager. Managing an accounting and finance department does not have to be stressful if the right approach is adopted. In fact, it should […]
Archives for August 2016
Accounting Treatment of Borrowing Costs in Accordance with IAS 23
Accounting treatment of borrowing costs is the subject matter of IAS 23. IAS 16 which deals on property, plant and equipment (PPE) made provisions surrounding how tangible non-current assets (TNCAs) are treated. It among other things states that borrowing costs MUST be included in the initial cost of an item of property plant and equipment. […]
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What are Business Integration Models? | Examples of business integration models
What is Business Integration? Business integration refers to all the linkages that exist between various activities and processes of a company in such a way that value is added. In a nutshell, business integration models are those management accounting tools that enables business managers to link various activities and processes of an organization for maximum […]
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Hybrid Accountants | How to Become a Hybrid Accountant
Hybrid accountants are finance professionals with top notch accounting knowledge and in depth commercial and operational awareness backed by the power of Information Technology. Hybrid accountants are increasingly getting involved into more and more operations of an organization. Hybrid accountants are next generation accountants with perfect blend of arrays of both hard and soft […]
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Strengths and Weaknesses of Different Budget Systems
Decision makers need to understand the strengths (advantages) and weaknesses (disadvantages) of different budget systems so as to ensure that optimal decision is being taken at all times. Organizations will not improve if budgets are set in the wrong way. It is a well known fact that budgeting is one of the functions of management. […]
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Dealing with What Gets Measured Gets Done Syndrome
What gets measure gets done is a popular phrase amongst performance management experts. Managements and staff will tend to concentrate on only those aspects of a business that they know are being measured and monitored. Examples of when this irresponsible act lead to dysfunctional behaviour by managers abounds in practice. This issue of what gets […]
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Small Business Application of ISO 9001:2005 8 Quality Management Principles
Small Business Application of ISO 9001:2005 8 Quality Management Principles ISO 9001:2005 amongst other things recommends that at the very minimum, quality management systems should include 8 quality management principles which we will be discussing today. The focus of our discussion of these 8 quality management principles will be on small businesses but can also […]
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What is Blockchain? Is it Another Cloud Computing or Big Data Concept?
Anyone who has been following trends in technology and finance for a while now would be wondering if this blockchain would be yet another cloud computing or bigdata or even the internet of things. Fintech engineers are yet at it again to confuse us a bit more or rather give us concepts to argue […]
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Planning your PhD in Accounting and Finance
Planning your PhD in Accounting and Finance can be so frustrating if one does not follow a systematic approach from the very beginning. This article is in response to the question asked by one of our followers on Facebook page. Most of the tips in this article on planning your PhD in Accounting and Finance […]
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How Small Businesses Can Prevent Workplace Accidents
Entrepreneurs must know how small businesses can prevent workplace accidents as a matter of fact. Employers of labour have the primary responsibility of making sure working environment is safe. One of the most important assets of a business is its workforce. Remove the workforce and the business will crumble. Workplace accidents will not only cost […]
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Nightmare of Accountants and how to avoid them
Nightmare of Accountants and how to avoid them Nightmare of accountants can be anything ranging from family issues to simply not getting the accounts to balance. In today’s post, I will be sharing my personal experience on those things that gives me nightmare as an accountant. 6 common accountant’s nightmare and how to fix them […]
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10 Factors Affecting Transfer Prices in Multinationals
Today we will be looking at 10 factors affecting transfer prices in multinationals. We all know that transfer pricing can be abused by mutational in their bid to evade taxes (or avoid taxes) thereby improving profit for their owners. But there is a legitimate strong case for the use of transfer pricing especially in the […]
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Trending Small Business Cyber Security and Awareness Skills
Small business cyber security and awareness skills have recently been identified as a critical success factor for small businesses. This world of Internet of Things (IoT) that we now live in has created massive threats that can easily prevent a business from achieving its objectives if not properly managed. It is common knowledge that […]
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DIY Small Business Risk Assessment and Evaluation Process
DIY small business risk assessment and evaluation is when small business owners evaluate their businesses through the lenses of an auditor. I have come to realise that seeing your business from the perspective of an auditor helps you see things differently and make decisions differently. Depending on the objective of the audit engagement, auditors’ primary […]
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How to Deal With Siege Mentality as an Accountant
Siege mentality of an accountant is what most accountants feel whenever people turn against them even when what they are doing is for the good of all. The fact that accountants are known for being frugal and always looking out for ways to save cost makes most people tend to view all that the accountant […]
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23 Functions and Duties of Accounting and Finance Department of SMEs
Accounting and finance department of small businesses have evolved over time to become the hub of small businesses. A quick look at the functions and duties of accounting and finance department of SMEs will give you insight of what has become of the accounting profession. A functional accounting and finance department of a small business […]
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10 SMALL BUSINESS SOURCES OF FINANCE IN TODAY’S INFORMATION AGE
Small business sources of finance are those mediums through which a small business can cheaply borrow money that are used for investing purposes rather than simply paying off day to day charges just to keep afloat. The aim of this article is to discuss those small businesses sources that work in this information age. […]
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Setting up your accounting department as a small business accountant
I was pleasantly surprised to know how daunting it is to set up accounting department when I first became head of accounting and finance department of a small business. Setting up your accounting department as a small business accountant does not have to be very difficult if the right tools and information are at our […]
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Internet of Things (IoT) or Internet of Businesses (IoB)
Wait a minute, Internet of Businesses? Yes, am sure you must have heard of Internet of Things (IoT) and how the whole world will go to its knees if the security professionals don’t step up their game to match that of the crackers or hackers. There will be yet another ‘black hat’ convention in the next […]
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External sources of information for strategic management
Getting the right information for strategic decision making is the most difficult part of strategic management. This is because of the fact that information requirement for strategic decision is qualitative and mostly non financial in nature. You may also want to read this article on difficulties in using and interpreting qualitative non financial information. In […]
