10 Characteristics of Effective Quality Management Systems

Quality management systems can become cumbersome and bureaucratic if not properly developed, implemented and maintained. Effective quality management systems have ten common characteristics that I have discovered in my consulting practice over the past couple of decades. These common denominators of quality management, when properly implemented, can improve your organization’s ability to satisfy customer and […]

The 5R’s in Waste Management

The 5 R’s – The key factors that are to be remembered in respect of waste management are – Reduce, Reuse, Recycle, Recover and Replace. 1. Reduce – wherever possible reduce waste production. One can always reduce waste production by following these simple guidelines: a. Use or buy only what is needed – when there […]

Uses of Audited Financial Statements

There are many uses of audited financial statements. Some of the common uses include submitting to the relevant authority such as company commission and tax offices. These are the two interested parties of these statements. Other interested parties include investors, creditors of the company and shareholders as well. So, what are the purposes of audited […]

The P-O-S-D-C Of Management – A Student Aid

Pupils need every available edge when it comes to studies, whether they know it or not. They should take advantage of every bit of information available, i.e., research articles, white papers, periodicals, magazines, and yes…blogs. This wee bit of information should prove useful to the aspiring business management, marketing, accounting, secretarial sciences, business law, and/or […]

The Advantages and Disadvantages of Corporate Financial Reporting

Corporate Financial Reporting is part of corporate reporting that consists of financial statements and accompanying notes that are prepared in conformity with Generally Accepted Accounting Principles (GAAP). The financial statements are summaries of business transactions during the financial year of the corporation. The business world has many forms of organizations ranging from the for profit […]

Management and Financial Accounting

Accounting is usually seen as having two distinct strands, Management and Financial accounting. Management accounting, which seeks to meet the needs of managers and Financial accounting, which seeks to meet the accounting needs of all of the other users. The differences between the two types of accounting reflect the different user groups that they address. […]