If you have been following accounting as a profession, you would have noticed a pattern that has been developing in the skill set that is required of a next generation accountant. One of the critical success factors of the next generation … [Continue reading]
Make Money or Make Accounting Career, choose a Path to your Destiny
For many people with accounting skills and knowledge, following an accounting career path that leads to professionalism for example becoming a member of ACCA, CPA or CIMA is their life long goal but the spiraling number of accountants that are … [Continue reading]
Small Business Due Diligence | Professional Accountant Perspective
Small business due diligence is a sort of investigation done by a professional on behalf of potential business owners before they sign a contract that will subsequently lead to change in ownership but after the buyer and seller has already agreed on … [Continue reading]
Pitfalls | Common mistakes made by small business accountants
Small businesses change accountants at will just as we change our clothes. The only difference is that we change our clothes because we have to but small business owners change their service providers such as small business accountants whenever they … [Continue reading]
Vocabulary of accountpreneurs that I did not learn in my MBA and accountancy classes
I don’t remember being taught any vocabulary of the accountpreneur during my study of accounting and MBA. The curricula of most accountancy courses are as rusty as the image in this article. As a dedicated student that never missed a class for any … [Continue reading]
Importance of credit checks and background checks to small businesses
Credit checks and background checks by small businesses are components of overall business strategy that is often neglected by many SMEs. This is due to the fact that most DIY entrepreneurs don’t really grasp the importance of credit and background … [Continue reading]
Discover How to Make Money as Accountants in the Information Age
Accountants spend thousands of Pounds on formal education and professional accounting qualifications only to be begging for jobs at the end of the day. This should not be the case if you are equipped with both the technical and soft skills of a … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
Automate Accounting but Humanize it| Accountancy Will Lose Human Face if…
The use of IT in accounting and finance is continuing to grow as business leaders constantly strive for excellence in business processes. And there is always a danger of over doing anything that we do in life. Virtually every accounting and business … [Continue reading]
Cost Accounting in the New Era
Cost accounting in the new era has completely moved away from the simple act of identifying direct costs, indirect costs and overhead, then using the traditional cost allocation method to allocate the costs. I remember the good old days when cost … [Continue reading]
What is Strategic Management Accounting? Meaning and Characteristics
Strategic management accounting and control is a relatively new paradigm in the field of management accounting. This new perspective of management accounting and control system was made popular as a result of the criticism levelled on the traditional … [Continue reading]
How to Write Effective Business Requirements as an Accountant
Nowadays, accountants are called upon by businesses to play significant role in system migration and other major business turnaround programmes. Business requirements are those deliverables that a project must convey if value is to be added, without … [Continue reading]
15 Funny Things Accountants Won’t Tell Their Clients
The general presumption is that accountants are demigods living in a fairy-tale world where everything they touch turns into gold. If you are amongst those people thinking this way, you will be surprised to find out about some of the things … [Continue reading]
Examples of performance management models
This article is written to provide an answer to a question posed by one of the readers of this blog. He asked me to give example of performance management models and how managers use them to make managerial decisions. In common parlance, … [Continue reading]
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 … [Continue reading]
Advantages and disadvantages of cloud accounting to a small business
This article is written to highlight the advantages and disadvantages of cloud accounting because the time is now ripe for us to stop pretending that we cannot see the emerging accounting trend where cloud computing is constantly changing the way … [Continue reading]
Accountants Job Description for Small Businesses
The accountant job description for a small business is somewhat that of a generalist and demands more from an accountant than the job description of an accountant of a large company. Many factors including the fact that small businesses do not have … [Continue reading]
Dangers of Fraudulent Accounting Practices- why accountants should be ethical
I bet you must have heard about fraudulent accounting practices and accounting fraud more times than you can imagine but do you actually appreciate the dangers of doctoring your book of accounts. This means that no meaningful economic activity … [Continue reading]
How to Design a Small Business Employee Reward Programs and Schemes
Managers of small businesses go through many undocumented sleepless nights trying to develop a reward scheme that will help the organization motivate its employees. Reward schemes are those monetary and non-monetary perks that managements give to … [Continue reading]
How accountants use technology, computers and IT infrastructures
Accountants as fluent speakers of the language of business will not achieve much nowadays if they fail to come to terms with technology which has become pervasive in the areas of business and finance. Business technology management in today’s … [Continue reading]