Only one director is required by law to sign the balance sheet on behalf of the board but, in the case of companies with shares traded on a market, it is quite common to see the balance sheet signed by two directors, for example, the Chairman and the Finance Director. To some extent this is…
Credit risk is the possibility of a loss resulting from a borrower’s failure to repay a loan or meet contractual obligations. Traditionally, it refers to the risk that a lender may not receive the owed principal and interest, which results in an interruption of cash flows and increased costs for collection. Excess cash flows may…
Credit limits serve a variety of purposes. Companies can use them as a guideline for order approval, to minimize the upward spiral of orders or to call immediate attention to a change in a customer’s purchasing or payment behaviour. Often the tendency is to let the credit limit simply become a matter of course, which…
One of the primary responsibilities of the HR department is to maintain employee records and regularly keep them updated. It is not just a good practice but it is also made mandatory by the law. These records help companies gather and analyze comprehensive information about their workforce at a micro as well as macro level….
Capital budgeting is the process of making investment decisions in long term assets. It is the process of deciding whether to invest in a particular project as all the investment possibilities may not be rewarding. Thus, the manager must choose a project that gives a rate of return more than the cost financing such a…
In general, engagements to issue a report on financial statements should be performed in terms of relevant statutory requirements, common law requirements related to professional competence, due care and a code of conduct issued by a professional body. A report may only be issued once all the above requirements are met. The duties of accounting…
Below are some of the signs, as part of the procedures that corporates must follow, to assess if the company is in financial distress. Looking and analysing the following and other indicators of financial distress could assist the company to detect the risks and costs that could occur. A financial distress report would then include…
Growing up in a town where Chris saw people struggle has motivated him to become a successful man. This dream he had has motivated him to study and work hard to one day have all the finer things in life. He has completed his National Diploma in Financial accounting and has a great passion for…
Cindy is an extremely talented, competent and experienced business professional with a 15-year track record and proven skills as head of her department, in the field of accounting, taxation and bookkeeping. She has developed competencies within highly competitive environments that gave her the experience to deal with various companies and individual clients, as well as…
Darusha is a dynamic and energetic person who has over 9 years’ experience in the accounting industry. She’s a well-mannered, articulate and hardworking individual who is always highly motivated. She works well under pressure, reliable and carries out tasks in a thorough and precise manner with excellent communication skills both over the phone & face…
