Aspect 2- importance of accounting
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Accounting red tape cut for smallest UK companies - Press releases - GOV.UK

Accounting red tape cut for smallest UK companies - Press releases - GOV.UK | Aspect 2- importance of accounting | Scoop.it
Measures to reduce burdensome accounting red tape for micro-businesses have been confirmed today by Business Minister Jo Swinson (As Nick says, 1.5m British small businesses now exempt from EU red tape.
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nelson phelps's comment, April 5, 2014 8:18 PM
Steps are being taken to reduce red tape for micro-businesses accounting departments. Many of the UKs million micro-entities will no longer worry about some of the burdensome financial reporting requirements. Currently there is no differences between them and small companies in financial reporting. However, earlier this year some consultations showed this was an unfair burden. They will also be exempt to file their profits and losses with the Companies House.
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How The Arthur Anderson And Enron Fraud Changed Accounting Forever - Benzinga

How The Arthur Anderson And Enron Fraud Changed Accounting Forever - Benzinga | Aspect 2- importance of accounting | Scoop.it
How The Arthur Anderson And Enron Fraud Changed Accounting Forever Benzinga When the scandal broke, the world was shocked that not only could a Fortune 500 company pull off such massive fraud, but one of the world's largest accounting firms looked...
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nelson phelps's comment, April 5, 2014 6:04 PM
paraphrase 2: The Enron scandal made a huge impact in the business world in 2001. Enron was a profitable energy trading company but a multi-billion dollar financial fraud cost its employees and investors billions of dollars. The company was forced into bankruptcy. WHen Enron went down it brought down the accounting firm, Arthur Andersen, with it. It was found that the firm largely neglected overseeing and auditing Enron's financial information. Also, Arthur Anderson shredded documents to hide the audits. This shocked the business world that a Fortune 500 company could commit such a major fraud while one of the largest accounting firms in the world looked the other way while these crimes were committed.
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Local Resident Leverages Accounting Background & Analytical Skills to Help ... - WebWire (press release)

Local Resident Leverages Accounting Background & Analytical Skills to Help ... - WebWire (press release) | Aspect 2- importance of accounting | Scoop.it
WebWire (press release)
Local Resident Leverages Accounting Background & Analytical Skills to Help ...
WebWire (press release)
Kelly O'Toole, owner of Kelly J Bookkeeping, is helping small business owners in the Surrey area increase profits.
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Aspect 3- what is accounting

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nelson phelps's comment, April 5, 2014 6:23 PM
paraphrase 4: The owner of Kelly J Bookkeeping leverages her skills in accounting to help strengthen small businesses to meet their industry's standards. She takes information to help her clients to understand where their company can improve. Her business asses and diagnoses other businesses to increase profitability and gain competitive advantage.
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Accounts Outsourcing Services | Outsource Accounting

Accounts Outsourcing Services | Outsource Accounting | Aspect 2- importance of accounting | Scoop.it

Accounts Outsourcing Services to Rayvat Accounting and get access to a team of dedicated professional accountants in India. Choose Rayvat for Outsource Accounting Services, Accounts Outsourcing Services, Outsource Accounting, F&A Outsourcing India, Outsource Bookkeeping Services, Accounting Business in Australia, Online Accounting Australia, Virtual Accounting Services, Outsource Accounting India, Virtual Accounting Services India.


Via Rayvat Accounting
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Aspect 3- what is accounting

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nelson phelps's comment, April 5, 2014 7:18 PM
Outsourcing Bookkeeping services are useful in capitalist countries like the US, UK, Canada, or Singapore. Starting any small or large businesses require regularly updating book keeping. Buying software for the bookkeepers and training them can be very costly. Businesses not experienced with this can benefit from outsourcing to India. The accounting department is the group in any corporation that is responsible for the daily management of funds. It is accountable for the company's cash spent and for the failure of the business if it is managed poorly.
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'Image management key to any organisation's success' - BusinessDay

'Image management key to any organisation's success' - BusinessDay | Aspect 2- importance of accounting | Scoop.it
'Image management key to any organisation's success'
BusinessDay
I started my career as a chartered accountant working as an external auditor for two top accounting firms KPMG and Ernst & Young. I hold a B.Sc in Economics and an MBA.
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Aspect 3- what is accounting

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nelson phelps's comment, April 5, 2014 7:47 PM
Janet Adetu is the executive director of JSK Etiquette Consortium Limited, an accounting firm. She started her career working in two top accounting firms as an external auditor. She found a passion to impact others lives, and later went to certify herself in corporate business etiquette. After delivering seminars around the world for 3 years she went to work with corporate organizations. JSK Etiquette implements the skills learned and motivations in corporate business etiquette to train others in their image.
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A top accounting guru's compelling new measure for profitability - The Term Sheet: Fortune's deals blogTerm Sheet

A top accounting guru's compelling new measure for profitability - The Term Sheet: Fortune's deals blogTerm Sheet | Aspect 2- importance of accounting | Scoop.it
Forget ROE or EBITDA -- and meet COROA, or "cash operating return on assets." (A top accounting guru's compelling new measure for profitability http://t.co/8WgJDlufgS)...
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Aspect 2- importance of accounting

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nelson phelps's comment, March 13, 2014 5:47 PM
paraphrase 10: Investors needing to find a companies true profitability may have trouble revealing the real picture given official GAAP accounting numbers. Management for a company may tend to pile on debt to boast that their ratio of net profits is large. This makes investing in their direction riskier. The best thing you can look for is a company who consistently brings in big return on capital. This gives you a grasp on the cash return on every dollar invested in plants, research and development center, and inventories. Two factors distort the actual figure on the cash flow. Cash flow calculated after falling income tax creates the illusion of a process that is still in progress. Also, when interest is subtracted the annual interest levy reflects nothing on how well the company is managing its assets.
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Ascension court catches $1 million accounting error - The Advocate

Ascension court catches $1 million accounting error - The Advocate | Aspect 2- importance of accounting | Scoop.it
Ascension court catches $1 million accounting error The Advocate GONZALES — An accounting error discovered last summer cost the Ascension Parish Court $1.173 million over seven years, but it's been corrected and a plan put into place for the court...
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nelson phelps's comment, March 11, 2014 8:01 PM
Last summer a huge accounting error cost Ascension Parish Court 1.173 million dollars. Steps are still being taken to recover the funds. It was found by a staff member during an annual audit. Fortunately none of the funds left the system and every dollar was accounted for. The solution was Parish Court would recover 14 thousand dollars a month for seven ears until the 1.173 million has been fully recovered.
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The Importance of Accounting for Business Owners

The Importance of Accounting for Business Owners | Aspect 2- importance of accounting | Scoop.it
Starting a new business is both exciting and challenging. Eventually, a business will grow and require proper bookkeeping in order to keep track of finances.

Via Adam Chan
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Aspect 2- importance of accounting

 

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nelson phelps's comment, March 11, 2014 8:19 PM
paraphrase 3: Business owners must decide early on how to handle their bookkeeping. Many simply hire already experienced professionals to avoid tax problems. Hiring accountant guarantees safe bookkeeping. Penalties and fees are unnecessary costs for a business so the profession is important. Failure to understand the law is a common reason why businesses face tax penalties. Technology has been greatly improving to help accountants. Programs can make the process much easier and less costly. However, before spending money on the software it is important to test it.
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Forensic Accounting Needs Specialized Skills - BriefingWire.com

The job of professional forensic accountants is focused mainly on enabling lawyers, insurance firms and other clients to resolve their disputes.
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nelson phelps's comment, March 12, 2014 8:40 PM
paraphrase 5: The main focus of forensic accountants is settling disputes between parties. They organize and communicate financial details that involve their clients in court. Forensic accountants should understand legal procedures to help companies involved in an investigation. They may be involved in defending or prosecuting clients dealing with financial crimes. Also they make the appropriate facts needed by the court are coherent and brought to attention.
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Summer Programs Increase Diversity for CPA Students - Accountingweb.com

Summer Programs Increase Diversity for CPA Students - Accountingweb.com | Aspect 2- importance of accounting | Scoop.it
Summer Programs Increase Diversity for CPA Students Accountingweb.com This summer, leaders in the CPA profession will once again join forces with colleges and universities to further their diversity goals when they host two summer leadership...
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Aspect 2- importance of accounting

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nelson phelps's comment, March 12, 2014 9:13 PM
paraphrase 7: CPA professionals will work with universities to diversify goals for summer leadership programs. The workshop is aimed to have an impact on minority college students by strengthening students professional skills. Top performing college students are given the opportunity improve confidence and communication skills. It is important to give new students first hand exposure
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Survey: More CAEs Being Recruited From Outside Profession - Accountingweb.com

Survey: More CAEs Being Recruited From Outside Profession - Accountingweb.com | Aspect 2- importance of accounting | Scoop.it
Survey: More CAEs Being Recruited From Outside Profession Accountingweb.com For example, only 25 percent of respondents recruit for the traditional auditing skills of accounting, while 43 percent recruit for business acumen, and 40 percent recruit...
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Aspect 3- what is accounting

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nelson phelps's comment, April 3, 2014 8:04 PM
Aspect 3: Many chief audit executives are being sent to other areas instead of being brought from the internal auditors. This trend is expected to continue. When auditors are being taken from the internal audit profession their role depends on their understanding of stakeholders. Some say having previous experience in business management is the most important quality. EVeryone agrees that people in the internal audit need to be able to speak like business leaders. A survey resulted in most CAE's saying analytical and problem solving skills were most important.
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Tips for SMEs: Time saving technology tools for HR - HRmagazine.co.uk

Tips for SMEs: Time saving technology tools for HR - HRmagazine.co.uk | Aspect 2- importance of accounting | Scoop.it
Tips for SMEs: Time saving technology tools for HR HRmagazine.co.uk Chartered accountancy firm Ward Williams uses the absence management module within its Cezanne OnDemand software system to address potential issues among its 60 employees, but it...
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Aspect 3- what is accounting

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nelson phelps's comment, April 5, 2014 6:14 PM
For some time now HR departments in large organizations have been benefiting from a variety of software tools that have increased overall efficiency. It has freed many of them to be fulfill any and all tasks and rolls thrown their way. Small organizations are another story, however. For them SaaS (software as a service) can lower const and reduce application time. As business apps have grown in popularity more of this technology has become equally accessible to SMEs. Technology can fill the weaker points in SMEs, which are largely ignored in the day to day demands of the business world.
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6 Must Know Non-Financial Skills in Finance - Siliconindia.com

6 Must Know Non-Financial Skills in Finance - Siliconindia.com | Aspect 2- importance of accounting | Scoop.it
Siliconindia.com 6 Must Know Non-Financial Skills in Finance Siliconindia.com So employers within the banking, accounting and financial services sector look for people who possess a number of key skills and qualities to ensure that investments made...
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Aspect 3 what is accounting

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nelson phelps's comment, April 5, 2014 6:45 PM
Having a successful and long-term career in finance takes skills outside the pool of the financial sector. Handling money requires responsibility, especially when the money isn't yours. Banking employers often hire accountants and financial services who have a variety of skills key to ensure investments are taken care of. Marketing skills is another non-financial skill looked for by employers. Clients know that you will manage your money the same as theirs. To market yourself and climb the corporate ladder, you will need to sell your proposals effectively. Communication skills would be helpful to do this. organizing information in literate effective, well-formulated ideas and well framed writing is essential to leave a good impression on clients and a superior's mind.
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Hagel Acts to Improve POW-MIA Accounting Effort - ABC News

Hagel Acts to Improve POW-MIA Accounting Effort - ABC News | Aspect 2- importance of accounting | Scoop.it
Voice of America
Hagel Acts to Improve POW-MIA Accounting Effort
ABC News
In a bid to improve the government's accounting for missing U.S.
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Aspect 3- what is accounting

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nelson phelps's comment, April 5, 2014 7:08 PM
The Pentagon has been pressured by the congress for months to improve the POW-MIA accounting effort. Its weaknesses were realized in the previous summer when the press disclosed a Pentagon report about mismanaged battlefield information. Hagel decided to combine the two leading organizations in the field. In 2009, Congress required the Pentagon to identify at least 200 sets of remains by the year 2015. The year-round case is easily attainable with a budget of 100 million a year.
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How to Reduce Costs While Staying Agile - CIO Insight

How to Reduce Costs While Staying Agile - CIO Insight | Aspect 2- importance of accounting | Scoop.it
CIO Insight How to Reduce Costs While Staying Agile CIO Insight Back-office processes and systems such as finance, accounting, payroll, meeting and travel services, IT support, and procurement are often early candidates for standardization and...
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Aspect 3: What is accounting

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nelson phelps's comment, April 5, 2014 8:05 PM
One way multinational companies compete and succeed in today's extremely competitive global marketplace is by decreasing cost using scale and scope. This is not an easy goal to achieve however. Standardizing software and data requires teamwork between businesses and geographic location. Even with management putting on the pressure there can be problems. Sometimes companies gain global efficiency but lose local flexibility which is important for global competition.
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New Study Highlights Top Concerns For CFOs - Forbes

New Study Highlights Top Concerns For CFOs - Forbes | Aspect 2- importance of accounting | Scoop.it
New Study Highlights Top Concerns For CFOs
Forbes
I've written extensively about the Competency Crisis in accounting and finance departments – that is, the gap between what is being taught in college and the skills employers really need.
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nelson phelps's comment, March 11, 2014 7:52 PM
CFOs have many pressing concerns such as measuring and monitoring employee performance, advising enterprise strategy, and assisting employees in the organization. A report from Global C-suite Study found CFOs are unsure about how these duties are fulfilled. Only 47 percent of CFOs thought they were able to monitor managing performance well. CFOs are not confident that their team is able to integrate enterprise-wide information even though most see the value. A study found the talent to watch out for will be accountants who know Big Data and analytics, those who can work with the customers, and understand digital domain. These areas do not normally deal with the financial side of business but will make tomorrow's finance talent stand out.
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Shortage of accountants will drive up 2014 salaries - Scotsman (blog)

Shortage of accountants will drive up 2014 salaries - Scotsman (blog) | Aspect 2- importance of accounting | Scoop.it
Scotsman (blog)
Shortage of accountants will drive up 2014 salaries
Scotsman (blog)
Accountants are expecting their salaries to rise this year as a growing skills shortage means employers are fighting increasingly hard to retain key staff.
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Aspect 2- importance of accounting

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nelson phelps's comment, March 11, 2014 8:30 PM
Growing skills shortage in the accounting field mean employers are increasing pay to hold current staff. 66 percent expect to see a pay raise within a year of 7 percent or more. The market has seen a sustained growth in 2014 for the first time in 5 years. Senior finance in Scotland said firms would offer large counter offers to convince staff to stay. In demand skills in Scotland include business management skills and commercial understanding. An increase in activity in the job market is currently being caused by proactive financial professionals who put their career moves on hold during the tough economic times.
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February 2014 - The Landscape: Accounting & Finance - AtlasAdvancement, Inc.

February 2014 - The Landscape: Accounting & Finance - AtlasAdvancement, Inc. | Aspect 2- importance of accounting | Scoop.it
Our Sales & BD edition of #TheLandscape will be out Mar 18-- check out our last issue on the accounting skills gap: http://t.co/ejlgIenDd0
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Aspect 2- Importance of accounting

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nelson phelps's comment, March 12, 2014 8:55 PM
paraphrase 6: An Economic Outlook Survey predicts large gains for the accounting fields. Professionals say demand for those with a masters degree in accounting is high. Although, a skill gap has begun to open. Employers in the 2014 year have found it difficult to fill accounting positions. Accounting has made a Talent Shortage Survey's list of most difficult to fill jobs for the past three years. The skill gap is interesting because accounting graduates have hit all time highs in 2012. It may be demand outrunning supply. Also, types of skills being taught in college could explain the gap. But with the current economy employers want candidate that they are certain can handle the responsibility.
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IMA Sees CMAs Earning More Globally - Accounting Today

IMA Sees CMAs Earning More Globally - Accounting Today | Aspect 2- importance of accounting | Scoop.it
IMA Sees CMAs Earning More Globally Accounting Today The Institute of Management Accountants released the results of a survey Monday showing that in every region the global accounting association surveyed, professionals holding its Certified...
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nelson phelps's comment, March 13, 2014 5:20 PM
paraphrase 9: A survey was released on Monday by the Institute of Management Accountants about ever region in accounting globally. It revealed professionals holding certified management accountant credentials earned more.
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CFOs Plan to Hire in Accounting, Finance and IT - CFO Magazine

CFOs Plan to Hire in Accounting, Finance and IT - CFO Magazine | Aspect 2- importance of accounting | Scoop.it
CFOs Plan to Hire in Accounting, Finance and IT CFO Magazine Skills most in demand by the hiring managers include: staying on top of changes in the corporation's industry, remaining current on technology, having the ability to adapt to a changing...
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Aspect 2- accounting importance

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nelson phelps's comment, March 13, 2014 5:08 PM
paraphrase 8: A recent survey of employers have found companies expect to hire more staff in accounting and other financial fields over the next quarter. half of all firms surveyed had open staff positions in finance areas for the 3rd quarter of 2013. Those who were hiring expected an increase in the size of their staffs in accounting. Skills that these employers are looking for include understanding changing topics in the industry and technology, and adapting to changing environments while being ready to learn. Most who were surveyed expected favorable economic conditions for the next quarter.