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 […]

  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. […]

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 […]

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 […]

I been asked so many times to explain in a simple language how one can become a small business accountant  so I decided to write this article on how to become a small business accountant. Small business accountants are those finance professionals who took time to master both the science and the art of working […]

I recently took a job in the finance department of Tristate Cardiovascular Associates Limited in Nigeria – ‘a Now-Age Cardiovascular solution provider with a vision to become the global leader in prevention and treatment of cardiovascular diseases in Africa’ and was wowed by the 2 day new employee orientation and induction event. Feel free to […]

I was going through my archives when I stumbled upon this academic thesis which attempts to throw light on: back ground of Activity-based-costing (ABC), its criticisms, problems, weaknesses, benefits and strengths. I decided to share this on this accounting blog for those that might be doing research in this area. Feel free to reference this […]

This is a simple post on how to prepare a bank reconciliation statement

INTRODUCTION The effects of tax avoidance has always been in the news. HSBC happens to be the most recent company accused of engaging in an unacceptable tax planning scheme that has made the company pay little tax in the UK where most of its operations are run from. No one will be happy if what […]

In this article, we will state the importance of insurance to a small scale business. I have been asked on several occasions if it is a legal requirement to have small scale business insurance. Well, the answer to this question is that it depends on the industry you operate in and your geographical location. If […]

We constantly seek explanations for everything that we do to ensure that we are not just wasting our precious time and resources. Good management practice requires that managers understand the reasons for variance analysis just like every other aspects of business management. We have previously discussed the benefits and drawbacks of variance analysis so now […]

Yes, you read the title of this article right. Accountants are problem solvers and not number crunchers. Many young people that would have made good accountants get scared by the mere thought of crunching some numbers. Most of them end up studying non quantitative courses and end up regretting it by the time they realise […]

Small business successes don’t just happen as it takes smart work to make it happen as we all know. The only problem is that a lot of people think that it takes hard work to make a small business succeed when in fact it only takes smart work to successfully manage a small business. In […]

This blog post will be highlighting important accounting ratios for small businesses. As a small business owner, you need to be able to read the hand writing on the financial wall of your business before it becomes too late. Important accounting ratios for small businesses are your gateway to understand and appreciate the financial health […]

The advantages and disadvantages of a mission statement must be known by small business owners that are either just starting up or have been running a small business for a while- just like every other things in life you ask; what is in it for me? Not minding if you understand the answer that will […]

COMPETING THE RIGHT WAY Small business competition is not all about price war and price cutting the supermarkets do in the UK. It is a lot more than that. The recent Tesco saga could have been avoided if excessive price war was not over stretched. The ideal small business competition should be more of a […]