In this piece on how to select a financial planner, I would be sharing my personal experience and the techniques that my clients have used in the past to select financial planners. Financial planners are one of those professionals that we … [Continue reading]
BUDGETING PROCESSES AND BUDGETARY PROCESSES
Budgeting process or budgetary system is a critical thinking area of managerial decision making that management accountants needs to handle with care else, make grave mistake that may cost the business all it has ever worked for. Budgetary system … [Continue reading]
BUDGETING: WHAT ARE THE FUNCTIONS OF BUDGETING?
Budgeting in its general sense is the act of quantifying objectives in financial terms. Budgeting assists managers in decision making process in an organization. It is the function of the management accountant to provide information needed in … [Continue reading]
Functions of management accounting / functions of management accountant in decision making
Functions of management accounting cannot be fully appreciated if a working definition and explanation of what a management accounting is all about is not reasonably provided. To this end, I would like to start this article by providing a brief … [Continue reading]
DECISION MAKING PROCESS; WHAT EVERY ACCOUNTANT MUST KNOW ABOUT MAKING DECISION
Decision making process involves strategic planning and control activities. It is a universal fact that information produced by management accountants must be evaluated in the light of its final effect on the outcome of decision made based on it. And … [Continue reading]
INVESTMENT APPRAISAL / CAPITAL BUDGETING – NPV AND IRR
Net present value (NPV) of investment appraisal and Internal Rate of Return (IRR) of capital budgeting are the two methods of using the discounted cash flow (DCF) to evaluate capital investment. This article is a continuation of two previous … [Continue reading]
INVESTMENT ACCOUNTANT | WHO IS AN INVESTMENT ACCOUNTANT?
We are set out in this article to provide an answer to the question; 'who is an investment accountant?' An investment accountant is a finance professional who specializes in and is saddled with the responsibility of; identifying, collecting, … [Continue reading]
IMPORTANCE OF ACCOUNTING IN SCHOOLS
The importance of accounting in schools cannot be over emphasized. Schools are the main hub of every modern economy and would be pulled down to nut if the importance of accounting is not recognized and practiced in schools. In this article are … [Continue reading]
IMPORTANCE OF BUSINESS ETHICS / IMPORTANCE OF ETHICS IN BUSINESS INVESTMENT
Business ethic is that aspect of corporate governance that has to do with the moral values of managers encouraging them to be transparent in business dealings. Business ethics takes into consideration the feelings of customers in fashioning out the … [Continue reading]
ACCOUNTANTS’ ROLE IN THE ACCOUNTING INFORMATION SYSTEM
Accounting information system (AIS) is that subsystem of overall management information system that provides information to an organization in the right format, size, time frame, and within a budget. Accountants have many roles to play as far as … [Continue reading]
QUALIFIED ACCOUNTANT: WHO IS A QUALIFIED ACCOUNTANT?
Having an accounting academic qualification is not enough for you to be called a qualified accountant / certified accountant- even when you are called, you are not one! Someone with B.Sc in accounting or MACC (Masters of Accountancy) qualification … [Continue reading]
MILITARY QUALITIES YOU MUST HAVE AS AN ACCOUNTANT
Military training prepares individuals to perfectly fit into any other career that they decide to finally switch into. To be a good accountant, I have come to discover that one must be in possession of those quality that military men posses. Those … [Continue reading]
MANAGERIAL ACCOUNTING – WHAT YOU MUST KNOW AS A MANAGEMENT ACCOUNTANT
Managerial accounting is an accounting system prepared by management accountants with the sole aim of assisting the management of a company make an informed internal economic decision. Management accounting as it is popularly known as is a branch … [Continue reading]
GREEN FUNDS- SOCIAL RESPONSIBLE INVESTMENT
Green funds are collection of public funds by fund managers with promise of investing in green projects. Some green fund will promise not to invest in tobacco while green funds will promise not to invest in non-renewable energy projects. A good … [Continue reading]
IMPORTANCE OF ACCOUNTING IN CHURCHES
The importance of accounting in the church is a controversial issue that is giving a lot of clergymen and women concern in our modern world. This is particularly important now that churches have been taken to be a profitable business venture. Without … [Continue reading]
USERS OF AIS
AIS are an acronym used to represent that aspect of MIS (management information system) that deals with accounting informational flows. AIS stand for accounting information system. The main classes of people that use AIS (users of AIS) are the … [Continue reading]
RELEVANT CASH FLOWS OF CAPITAL BUDGETING
Relevant cash flows of capital budgeting and investment appraisal are one area that confuses people a lot. This confusion is common amongst students that are taking financial management as a course in their bid to become finance professionals. The … [Continue reading]
WHAT IS A GOOD INVESTMENT?
What is investment was on the lips of many people some years back during the dotcom era before the investment community was shaken to its root during the economic crisis. But, the question has dramatically changed to what is a good investment now … [Continue reading]
INVESTMENT APPRAISAL SHOULD ADD VALUE TO THE OVERALL FORTUNE OF A BUSINESS
Investment appraisal is a scientific process of evaluating the financial and non-financial factors to determine the economic viability of an investment opportunity. Another name for investment appraisal is capital budgeting. Companies create value … [Continue reading]
CAPITAL BUDGETING PROCESS; MEANING AND PROCESS
Capital budgeting is a scientific process of identifying, analyzing, selecting and implementing investment projects with returns that are expected to span over more than one year. Capital budgeting is also referred to as investment appraisal. The … [Continue reading]
ACCOUNTANT’S ROLES IN A MODERN AND VIBRANT BUSINESS
Accountants have many roles like; accountants role in economic development, roles of accountants in fraud fighting, roles of accountants in the face of economic meltdown. The role of accountants is pervasive in nature and this article is another … [Continue reading]
