Accounting News

Businesses shouldn't wait for the dust to settle before focusing on the daunting task of financial recovery. This is where accounting professionals are invaluable allies.

Organizations must prioritize data integrity, invest in skilled tax professionals and implement robust control mechanisms.

Give them a mini-MBA and a year of practical experience without compromising the core strengths of an accounting education.

When Macy’s on Wednesday reported more details about the “hiding” of $151 million, it became clear their accounting controls simply didn’t work. It exposed a massive software hole in just about every enterprise environment.

Learn about the basics of invoicing: what’s included in an invoice, how an invoice is used, and the different types of invoices.

In this sponsored article, Dmitry Dolgorukov, CRO and Co-Founder of HES FinTech, suggesets that to effectively combat fraud, microfinance institutions must establish robust fraud detection systems. Early detection and prevention of fraudulent activities are vital in minimizing financial impact and...

Adams has rejected calls for his resignation.

Bill Hwang was found guilty on 10 of 11 charges of securities fraud, wire fraud, conspiracy, racketeering and market manipulation Wednesday after a two-month trial.

Made-up financial identities will cause losses of nearly $2.5 billion, thanks to the prevalence of imposter scams.

Surveillance, spear phishing and missing billions. 'At times I thought I was going crazy.' Dan McCrum explains the twists and turns behind the massive fraud. Read more at https://on.ft.com/2ZpAeKc. See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132.

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Forces not doing enough to combat fraud epidemic, experts say...

An overview of Deepfake, and how they are being used to perpetuate financial fraud.

In this contributed article, Jon Lawrence, VP Product Management, at Oversight, discusses the role of AI in catching payments fraud and the ability to layer technology across the process to continuously monitor every transaction, examine every vendor, check every purchase order, audit every...

The raids come two years after Netflix agreed to settle a $60 million tax dispute with Italy.

Trump is already sowing distrust in the election results before the polls have closed.

Bob Vander Plaats has a record of backing winners in the state’s Republican caucuses.

Interview of Miłosz Garbarczuk, a plant director at Hager Group.

He has been applying the Theory of Constraints (TOC) in his career for more than ten years now and Philip Marris, the CEO of Marris Consulting, managed meet him in person during one of his visits in France to ask him about his TOC journey.

Working in the steel industry, Miłosz discovered the TOC when he and his plant management team have been asked by their boss to read "The Goal" by Eliyahu Goldratt and to organise a workshop to implement it in their operations. Although it was first perceived as a "forced" assignment, he stated that Goldratt's book was one of the best gifts he has ever received.

After the discovery, TOC had a great influence on the profitability of the company. They started to look at things more from a throughput accounting point of view, which is not very common in very large companies. The critical measure switched from "euro per tonne" to "euro per hour". Then, TOC helped Miłosz and his sales team to create offers that customers couldn't refuse (TOC's Mafia Offers).

Later on, he and his team managed to quickly identify the bottleneck in the factory - the paint shop - and rapidly increased its throughput with Gemba (on-field observations). This has been achieved without additional headcounts or additional investments.

Finally, Miłosz shared his use of the TOC's Throughput Accounting to write contracts with customers which led again to great results in terms of profitability for the company.

After an extensive use of the Theory of Constraints in Production and Throughput Accounting, the next steps of Miłosz are to widely deploy the TOC way of managing projects - Critical Chain Project Management - at Hager Group across its whole portfolio.

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Marris Consulting is a management consulting firm.
Our motto: Factories, People & Results.

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