This article on how accounting and finance team add value to a business is written as an addendum to an article about accounting and finance department not being a cost centre anymore. Without wasting much time, I will go ahead to state and briefly explain how modern accounting and finance team add value to any […]
How To Manage Customer Relationship Crisis
How To Manage Customer Relationship Crisis Introduction How to handle customer relationship crisis was the topic that I and my friends debated about during the just concluded Easter break. You will agree with me that crisis is part of existence. There is no relationship that is free of crisis, rather what we have are loads […]
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How to Set Strategy for All Types of Business
Every other business decision will be seamless if one understands how to set strategy. A lot has been said about strategy in business and management arena that the term strategy has become so many things to so many people. A football analyst for example will say something about the strategy of a team. Even […]
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Tips on how to become a better Accounting and finance manager
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 […]
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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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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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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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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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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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Accounting and Business Strategy to learn from Pokemon GO
In case you haven’t heard, pokemon Go is a game developed by an arm of Nintendo. It has barely been around for about one month at the time of this writing but has more active users per day than Twiter according to a data mining company. Pokemon Go has been in the news everyday […]
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Difficulties in using and interpreting qualitative non financial information
Most strategic decision making involves dealing with large amount of non financial and qualitative information. And that is why there are difficulties in using and interpreting qualitative non financial information. Analysing and interpreting commentaries, opinions, debates, other people’s experiences and subjective information are what makes members of top management valuable in organizations. However, dealing with […]
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ADVANTAGES AND DISADVANTAGES OF USING LEAGUE TABLES IN PUBLIC SECTOR
This article is written to explore the advantages and disadvantages of using league tables in the public sector as performance management tool. The motivation behind writing this is because in recent years, the adoption and use of league table in measuring and managing the performance of public sectors have been on the increase. The rationale […]
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How not to run a business -big or small
Many articles, text books, journals and blog posts have been written on how to manage a business in order to succeed, but not much as far as am aware has been written on how not to run a business. This in my opinion is a fundamental reason why many businesses fail despite the plethora of […]
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Difficulties of Measuring Performance in Service Industries
The difficulties of measuring performance in service industries are those features that distinguish manufacturing from service industry. Though performance management is on its own problematic in complex modern organizations but the current trend of organizations wanting to be seen as lean and virtual has compounded the problem. Companies that would be classed as pure manufacturing […]
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Limitations of Qualitative Aspects of Performance Management
Performance management nearly lost its vibe when it was all about number crunching. All thanks to the introduction of qualitative elements of performance appraisal. Having some qualitative elements in performance management models have gained global acceptance due to the fact that basing performance measurement and management purely on financial and quantitative terms have created rooms […]
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Basics of Business Insurance for Small and Large Businesses
Business insurance is a discipline that has been around for long and has therefore undergone some serious reforms, challenges and criticisms. This is why we need to refresh our knowledge with articles on the basics of business insurance once in a while. One of the fundamentals of integrated risk management is to transfer the risk […]
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Accountant Next Door Small Business Inbox | Mini Guide to Successful Entrepreneurship
In this comprehensive small business management guide, we will practically take you by hand and walk you through the process of starting and running your successful small business. What you are about to read in this little but mighty successful small business management guide are what you cannot get for free from any other experienced […]
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Is Big Data Driving Your Business Forward or Is It Too Heavy That It Slows Things Down?
The importance and significance of big data in this digitalized business world has been generally agreed upon by business leaders and strategists. We are now in a new phase of big data life cycle which is what I call the shaking off stage. The big data shaking off stage is the phase where the multitude […]
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Dysfunctional Behaviours of Budgetary Control Systems
Dysfunctional behaviours in budgetary control system are those suboptimal decisions that managers make just to ensure that they meet targets and get their bonus. The essence of budgeting which includes motivation of managers will be defeated if proactive action is not taken at both the design stage and implementation stage of budgetary control system. List […]
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Why accountants become successful entrepreneur?
Nowadays, more accountants and those with accounting background are finding solace in entrepreneurship than it used to be. Come to think of it, who do you think is better equipped with the required training to make a good accountant? The vocabulary ‘accountpreneur’ has suddenly found its way into many English dictionary because of the increased […]
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Happy accountant, angry accountant
Well, just like every other things we do in life, the choice is yours whether to be a happy accountant or an angry accountant. It’s entirely up to you to decide what path to follow. I have heard many people debate on this issue in the past. One of the finance guys firmly believe that […]
