Catchy title, eh? But it must be true, because so few small and mid-sized companies do it. Why would anyone who wants to build a successful company avoid doing something that might help them succeed? Well there are a lot of very solid reasons, or so we’re told. In fact, we’ve been told one or […]
NOCLAR, which stands for Non-compliance with Laws and Regulations, was created and has been updated by the International Ethics Standards Board for Accountants (IESBA). NOCLAR is an action that violates a law or regulation that has a direct impact on financial statements or violates laws which address compliance matters. Recently two AICPA boards provided interpretation […]
Payroll is the process of calculating and disbursing wages, salaries, bonuses, expenses and deductions relating to employees’ compensation for their work. It is necessary to maintain financial records, understand current laws and regulations, detailed knowledge of tax issues, and a system to ensure employees are compensated accurately. A payroll manager supervises the payroll department and […]
As part of its strategy, every business focuses on growth and development, including that of its employees. Organizations normally train employees for practical reasons like onboarding new employees, keep with the industry trends, and even demonstrating how to use new equipment. Also known as workplace learning, corporate training aims to design activities to educate employees, […]
A business writer once published an article that an exit plan can also be referred to as a succession plan. Sorry, folks, but that’s just not true. They’re very different strategies intended to accomplish very different objectives, and the actions that a business owner will take to implement a succession plan will be very different […]
Organization development is a process of a planned and systematic approach that helps organizations identify problems, build their capacity to change and improve their effectiveness. It is an evidence-based process that uses scientific findings for creating a process that is structured, controlled, and tested. Like many other process improvement methodologies, the organization development process follows […]
As the COVID-19 pandemic continues to have rippling effects on all businesses, no matter the size or strength, it is imperative that companies stay committed to minimizing fraud in its organization. Staying ahead of fraud can require extra resources for companies, in both time and money, and many companies are operating with reduced resources and […]
Many types of fraudulent activities occur within the day-to-day business operations of a company. Locating these activities and stopping them after they have occurred can be extremely costly for a company. It is more cost-effective for a company to mitigate the fraud risks before they happen by being aware of the most common fraud schemes […]
Bookkeeping is the process of recording and keeping track of the financial transactions of a business. It gives an in-depth look at the expenses and revenues of a business and helps business owners to get on the path to transform business and to capitalize. The process includes recording documents like bills, receipts, invoices, purchase orders, […]
Payroll refers to the compensation and other benefits paid to the employees of a company for the services they provide during a certain period of time. It is the process that is used for calculating, recording, managing, and analyzing employee compensation. Payroll processing is an important function of any company or an organization as it […]
