Archives for September 2023

To whom much is given, much is expected, the role of reporting to the board of directors (BOD) is both prestigious and demanding. It requires an enviable understanding of complex matters and the ability to communicate them effectively to a diverse group of board members. In today’s article, all our energy will be channeled towards […]

What is internal auditing?Internal auditing is a systematic and independent examination of an organization’s financial and operational processes, controls, and activities. The primary purpose of internal auditing is to provide assurance to the organization’s management and stakeholders that its operations are effective, efficient, and compliant with relevant laws, regulations, and internal policies. Internal auditors, often […]

In today’s dynamic and uncertain business landscape, organizations are constantly challenged to adapt, innovate, and thrive. To navigate this ever-changing environment successfully, businesses must adopt a strategic approaches that goes beyond mere reaction and problem-solving. They combine the potent powers in “Risk-Based Thinking,” “Systems Thinking”, and “Design Thinking” methodology to empower their organizations to proactively […]

Business systems migration and integration are essential processes for organizations looking to improve efficiency, streamline operations, and leverage technology to better serve their customers and achieve their strategic goals. Business systems migration and integration are two distinct but closely related processes that organizations undertake to improve their operational efficiency, streamline processes, enhance data management, and […]

Meaning and Definition of Accounts PayablesBefore immersing ourselves into providing answer to the question of what is the accounting treatment of accounts payables, it will be cool if we first of all attempt to establish a working understanding of what accounts payables really is. So, let us spend the next few minutes providing a simple […]

Marketing no doubt can easily become daunting within a very short time as innovative marketers constantly doll out new marketing strategies that needs to be matched or risk being out of business. In today’s fast-paced digital landscape, businesses are harnessing the power of Artificial Intelligence (AI) to revolutionize their marketing strategies. AI offers unprecedented opportunities […]

You must probably have heard the breaking news of global warming and how we will all probably die (as if we are not going to die) if we continue with this rascality and cruelty to our environment does not stop. In recent years, Environmental, Social, and Governance (ESG) and making the world a greener place […]

Working from home is no longer a mere wishful thinking of some lazy employees who simply thinks that Golds are still served on a platter of Gold – no pun intended. But rather a current business that has come to stay. In the wake of recent global events, the landscape of work has undergone a […]

The functions of accounting department come in many shapes and dimensions. One of such dimensions is to calculate, record, manage, analyze and reconcile employee related expenses. Payroll accounting deals with all tasks that involves payroll transactions. These tasks include paying staff at period ends, deducting and remitting relevant regulatory deductions, and posting payroll information into […]

I am currently on my annual leave and was going through emails from the followers of this accounting blog. This message from someone (name withheld as requested) asking that I provide a comprehensive guide that can be used by someone who recently got a job as a payroll administrator in a multinational company. First of […]

I have never seen anything thing that is more complex as decision making. It does not matter the importance we place on it. Choosing a cloth of your choice at the shop whether you like it or not involves some complex decision process. Decision making is different from sentiment and must be treated uniquely. In […]

As a modern day auditor, the idea of auditing in computer based environment should no longer be alien to you. In fact, I suggest you become proficient in conducting an AIS audit as this will broaden your horizon as an auditor – internal or external. Auditing through computer and auditing around computer are two different […]

I wrote a piece on the difficulties faced by small and medium sized companies some years back. Cynthia, one of the readers of this accounting blog reached out to me via the comment section of the above referenced article with the below request: “I’m doing research on entrepreneurship skills, please send me reasons why entrepreneurs […]

One would make a pretty good argument if they posit that no other professional knows businesses like accountants do. Accountants possess a unique skill set that extends far beyond number crunching and financial reporting. With their deep understanding of financial systems, tax laws, and business operations, accountants are well-positioned to explore various side hustles that […]

Introduction We all know that anything that remains stagnant eventually goes into extinction with time. Accounting profession evolves and this comes with some level of innovation. The accounting profession moves in tandem with the current realities of our time – technological advancement in all facets of business activities. In the information super highway and big […]