When it comes to marketing, any organization that is not thinking beyond the 21st century is simply wasting time and resources. The marketing strategies and techniques that worked years back may not necessarily work now and beyond. Being able to set up and establish a suitable marketing department is a critical success factor of doing […]

Traditional qualified accountants that have refused to move ground are already feeling the heat from the effect shakeup caused by the advancement in technology. They are getting worried for the minimal effects that already exists. A more pronounced effect and shakeup is fast approaching the direction of accounting and finance industry. The recent effects that […]

Data is increasingly becoming the new oil and currency of the now age we all find ourselves in. Data driven business leaders are emerging on a daily basis and this is placing more emphasis on the need to properly manage data for maximum benefits. The adoption and implementation of risk-based data analysis process has fueled […]

Risk based auditing approach has become the de facto standard for auditing. Internal auditors and forensic accountants are increasingly being required to apply risk-based approach to all facets of their work. The importance and benefits of risk-based auditing is crystal clear for all who cares to see. In this article on risk-based data analysis, I […]

The interconnectedness of this internet of things (IOT) world that we now live in means that those things that worked in the past would no longer be adequate for today’s fast paced world that is constantly facing the cybersecurity ever increasing threat. The traditional MIS concepts are fast becoming outdated. Therefore, only businesses that are […]

I still remember back in the days when I was still an undergraduate student studying for my first degree in accounting how I struggled to grapple with incomplete record and single-entry bookkeeping. My struggle was simply because I was at lost when it comes to dealing with the relationship between markup and margin. Chances are […]

The functions of management accountants have long been established both in practice and in accounting literature. And management accountants have in all fairness lived up to expectations when I come to delivering n their promises. However, it has become glaring and clear before our eyes that accounting as a profession has caught the disruptive bug […]

What is Social Business? Addressing a Social Problem Unlocks Hidden Gems in Social Media Age A social business is any entity that is created to by design to solve real life social problems. The business be of any structure and size but must have the goals and objectives of fixing social dislocations. All social businesses […]

Small business accountants that are not well grounded in working with incomplete records or single-entry bookkeeping usually always disappoint their clients. It is not that individual business owners do not appreciate the importance of accounting, they simply do not have the expertise of finance people and this is causing a lot of nightmare for accountants. […]

It has long been established that accountants are communicators or at least should be leaders in business communications. However, I have seen on many occasions where accountants fail to communicate properly. No matter how good an idea is or how good one is, nothing gets done without the right kind of communication. Hence, the major […]

The financial statements are produced at the end of the period as it will be silly and impracticable to produce a financial statement each time a transaction is made. However, every transaction must be recorded and is recorded as they take place. The recording usually starts from the journal entry, then the ledger, then all […]

The whole essence of getting involved in the accounting process is to produce valuable, speedy and accurate accounting information that the end users of accounting information can rely on for economic decision making. To do this, business transaction information is captured on the fly – you will agree that doing things on the fly will […]

There are always some grey areas in every profession. Taxation in the field of accounting happens to be one area where interpretations and applications of the provisions of the Finance Act / Tax Laws. Understanding the application of effective tax rate to employee income is an important forensic accounting skill that you will never regret […]

What is digital finance? Digital finance is an umbrella of the many products that Fintech companies are launching into the financial ecosystem all in the bid to fully decentralize financial services. Digital finance includes but not limited to; smart financial software, easy to access financial business models, mobile financial inclusion, flexible customer relationships that is […]

In a bid to be part of the month long celebration of Internal auditors globally in this month of May, I recently attended a function where I was asked to give an impromptu talk clearly stating the difference between internal control and internal audit. It was then that I realized that I struggled to provide […]

I decided to share this sample of internal audit charter as part of my way of giving back to the society in this month of May – my month of birth. Feel free to adopt this free internal audit charter and use it in your audit engagement as desired. The content of this article can […]

To properly answer the question ‘what is an accounting standard?’ in such a way that managers from and those from non-financial background can understand it, we need to firstly refresh our mind on the importance of accounting. You can refer to the linked article above for full article on the importance of accounting. I will […]

In this article is attached an excel strategy map template designed by hybrid accountant for small business owners and modern business managers. I am basically writing this article just to share the template with readers of my accounting blog – so pardon the brevity of this article. Download the strategy map excel template here What […]

Business valuation is not all about the figures in the financial statements as many people erroneously think. My many years of experience in business analysis has taught me that it is some times more important to look out for qualities of a good company while at the same time applying proven business valuation techniques. In […]

Journal entries are the foundational building block that makes accounting what it is today – the language of business. Business managers are faced with tough decisions on a daily basis ranging from making long term capital investment to making recurring operational expenses. Without journal entries, getting the information to aid decision makers perform their jobs […]