Accountancy & Financial matters Management blogs

Concepts towards Financial Controllability: That is a huge concept in the budgeting , forecasting and Cost accounting . That whole idea is based on the financial performance controlling techniques. A activity can be control by its area of influence on the production and performance in a service. The managers are assigned different roles and tasks to control all the activities in a business. The Financial Cost can be control through the managers activates and their efforts in a business unit operation. There are many different tools through which we control the financial cost of a business unit. They are theoretical, practical , authorities and participative . The CostStandards “Predetermined expectations” are playing a very important role in the controlling of a budgeted or foretasted activity. The activities normally known as the Labor activity, material activity. The Labor activity is measure or control by the per labor hour cost based unit and the material activity is c...

Time frame of a financial budget: Budget is a time based activity according to timing it can be strategic, intermediate and operational .Budget is a planned activity which need to be controlled with a high motivation and with very effective communication skills and abilities between all the stakeholders and business units to achieve the complete profit plan. That’s the reason budget is a time based activity and to achieve the budgeted objectives the time series playing a very important role in the whole activity. According to the timing factor the financial budgeting divide in three main steps. That’s Strategic, intermediate and operational. That’s sometimes known as the three different kinds of the budgeting on time series basis. When the board of directors of a business meet and finalize the mission statement for the business and make the clear objectives for that business that process also include the business complete financial plan because the directors have the comp...

Effective Budgeting Skills & Abilities: As we know that budgeting is the official plan for a business success or some time the business leadership called it as a plan for the profit which leads the business to achieve its goals and objectives. Actually a budget is a planned activity which is based on numerical figures like how much bugs or cash a business units allow to spend over production or services? Or how much they need to make as revenue? In a limited time period as in limited budgeted resources that’s all activity is planned in quantities units or figures. The role of the budgeting in the overall every business activity planning and evaluation is very important. We have many examples in the modern and classic history of the business operations. There are many projects which are admirable due to good budgeting and management achieves a good will through their effective planning and efficiency in their skills or expertise. There are many factors which are influe...

Financial Budgeting: Budgeting is a complete process which a business organization performing to express its quantitative needs for completing its ongoing business operations and projects. There are some characteristics of the budget which helps us to explain that all topic here and that characteristics are mostly known as the driven tools for a business department and leadership to make a budget for its all business units and departments to achieve the desirable performance and result within the limited resources. These tools are Planning , Controlling , Motivational and Communication.  Actually budgeting helps the business to plan its future needs according to its mission and objectives. It also leads the business management to control their expenses and risks which are relating to their business operations. The very good example for controlling is to control the inventory turn over issues because the miss management in the supply chain process leads the company to in...

Writing a research proposal for the financial requirement is very important for business and company future to get some financing from Capital Markets and Lenders. It is not a very easy task to achieve it business organization all over the world hire experts and professionals for this task. They start their research for their projects financing mostly six month before their project startup.  That’s research proposal also helpful for the individuals and corporate business companies finance departments. Before going to details the writer need complete research and planning for the research proposal.   The success of the research proposal always based upon on the objectives of the business idea. The business idea must be specific, measurable, realistic and timely effective. There success of the research proposal is based on the quality of planning of the research department professionals. Successful Proposal always backup with the 75% planning and 25% based on the...

Accountants are the professional staff responsible for the recording, maintaining, and controlling the financial transactions, information flow like every business and every job the management accountants also have some ethics which helps them to perform their job and their role in the business place ethics and morally in a more respectful way. That improve their performance and their productivity and also give them motivation and confidence to work live professional management accountants. IMA “Instituteof Management Accountancy” also develop the ethics and some social responsibilities rule for their Management Accountants and they also performing their duties in this mater to help out their CMA , CPA , CFA certified members and top professional members. Ethics for Management Accountants have two most valuable functions and that’s are the System Controls and Security Measures . Every professional Management Accountant follow them and he/she is working i...

Company Audit and Relationship among Audit Committee, Internal, External Auditors, Board of Directors and Management: There is a direct relationship among all the concerned stakeholders for a company audit process. The audit is an inspection process through which a company or business venture is normally examined by an independent body. The Modern day business mostly gives  weight  to the Ethics and complete business controls, through that way they achieve the effectiveness and efficiency in their daily business performance. That the reason the internal control by business operations staff, management and leadership is the key to success in business. Although the external auditors for the business financial reporting and statements analysis still important for the business and company legal value and worth. Here is the short and glance view of the different organization stakeholders role in the audit process. Board of Directors and Management:      ...

Audit and Approaches: Audit is the official inspection of an organization business approaches and its financial data by and independent body. There are four different generally accepted approaches which are as follows. a)       Balance Sheet Approach: b)       System-Based Approach: c)        The Substantive procedures approach: d)       Risk based approach:     The details of these approaches are as follows: a)       Balance Sheet Approach: The balance sheet is the very important part of the financial data recording. Its helps the user of the data to get the information about the company performance on its assets, equity and liabilities usage. According to this approach the auditors make their focus on the limited procedures and put their complete efforts to abstract the use able information form the balance...

Accounting Standards are the rules and regulations which are developed/ established by some government authorities, regulatory bodies and large companies to improve their work efficiencies and for general auditing purposes. These rigorous standards help the companies to work in a uniform environment and use the very effective and efficient ways to improve their transactions recording performances. That effective internal accounting skill helps the accounting and finance personals to keep their financial records up-to-date. There are some important elements which are very essential for the accounting standers and every business organization follow them to improve their skills and abilities in the field of accounting. The elements of the accounting standards are as follows and that also helps us to maintain the business ventures and improve their skills to manage their daily business activities. Through this way the elements help-out to identify the exact amounts of transacti...

                            Accounting and Finance both are the part of our daily professional and social life. The Core concepts of both revolve around the management of assets. Both are belongs to two separate disciplines which have a common objective and the core objective is to manage the business and individual assets in a professional, reasonable and economical ways. That’s the reason we can say that accounting and finance both are lumped together. Here are the key features of the both disciplines which helps us to understand the core objective and thoughts of accounting and finance. In this passage we will elaborate the concept of Finance at the top and explain the features and role of finance in our daily life and separate it from the accounting. Finance word normally used in both format like a noun and verb. In the format of a noun, finance is the management of large amount of money or assets o...