Wak Business Solutions is the “Management Consulting firm” consists of establishments primarily engaged in furnishing operating counsel and assistance to management of private, non-profit, and public organizations. These establishments generally perform a variety of activities, such as Management Strategic and organizational planning; financial planning, internal audit and budgeting; marketing objectives and policies;
Summary: Distant too lots of managerially consider that management thoughts consists of stability and problem-solving. This means keeping possessions going as they are going and then solving the problems that occur from time to time. So business management thinking is all about problem-solving.
Introduction: When planning, it’s very vital to match the nature of the planning process to the nature of the planners. For example, not the entire traditions favor a linear, in order approach to planning, that is, to settle on mission, vision and values then subsidiary goals and related objectives. One of the most difficult parts of any strategic planning procedure is the strategizing deciding how to address strategic subjects and ambitions. This part is mainly vital to match to the life of the planners. Like as it capacity is valuable to use a more natural loom to problem solving.
The most important productivities of strategic business planning are forceful strategies. Using actual case examples, this part illustrates how the planning process helps solve competitive problems maybe ones you currently face. To strengthen your planning skills and improve your ability to use the Strategic Business Plan (SBP) process in practical functions, the subsequent system is used.
01. A spirited problem is recognized.
02. A real case in point is used to demonstrate each problem.
03. Exploit strategies clarify how the company solved the problem.
04. Orientations point out the SBP sector where you would tackle such a problem.
The bellow cases in points are converses:
(I). How do you maintain growth in a slow market?
(II). with great organizations nurture to rule an industry, what strategies are potential?
(III). How can you use the SBP to recognize continuing opening, however handle day-to-day procedures?
(IV). When increasing a SBP, how can utilize participant investigation to give reason for the time and expenditure of congregation the information?
(V). How do transaction with offshore opponent’s promotion into marketplace with prices 30% to 40% below?
(VI). How can go forward client dealings to obstruct the proceedings of innovating opponents frustrating to make inroads against business?
(VII). what self-protective strategies are successful to keep market share?
(VIII). How can exercise into a market previously engaged by a business organizer?
(IX). How can validate the high honest expenses for new product growth with the predictable plummet in worth’s as foodstuffs budge speedily into the full-grown phase of their lifecycles?
(X). what strategies can assist turn around a vertical refuse in a company’s sales?
(XI). How can a diminutive company submit an application to client motivated procedures to produce alongside leading opponents?
(XII). is present a method to generate an aggressive improvement in a essential business greatly conquered by great, not expensive opponents?
Conclusion: If this opinion is generally detained in the organization, then try to put up it through mixture of an appropriate planning process like as organic strategic planning or other skills,. If the planning collection comprises a little populaces through any of these views, then consider combination the skills in order to make happy some of the populace some of the time.
Mr. Mohammad Wahid Abdullah Khan is the Chief financial officer (CFO) of Orient Polymer Group (former Project director of “Max Textiles Ltd” fromMay 2010 to March 15, 2011). Prior to that he had completed over ten (10) years in various fields of Business like - Accounts, Finance, Internal & External Audit, project budgeting and project costing related positions in some of the largest group companies & the join venture companies in Bangladesh.
He consults about small- medium business owners and services professionals, business consulting service and project process. He is most experience in Financial Risk Assessment, Financial analysis, Financial Advising and Project Cost Analysis. He is a co- author of “The complete performance management”, Mr. Khan has written more than 200 articles & case studies which have published in different international journals. Such as Business, finance, personal finance, international finance, auditing, Risk assessment topic and performance & industrial related,
Mr. khan’s most popular articles is “WAK” Model - The way of best solution for an organization internal audit process,( 1st,2nd,& 3rd part) “WAK” Model”- for successful financial resource , “Wahid khan”- cost analysis, Wahid theory – the key of dynamic series for successful financial consulting, Wahid techniques – the Significance and dependability manner for Performance audit(1st,2nd,& 3rd part) Wahid’s Opinion - non-conformity among the performance audit and financial audit, Wahid’s view- The cogent task and the confront of financial/economic analysis in the modern business decision making , Wahid’s outlook - The Business Financial Analysis Should Be Included several required Documents with the analysis report or plan, WAHID’S JUDGMENT- difference strategic plan as opposed to an operational plan ,WAHID’S METHOD– the charismatic and fruitful guideline for financial investment decision making ,WAHID’SMEASURE - the influential and evaluated of similarity between profit & non- profit business planning & Wahid’s philosophy- The examined & careful consideration of strategic planning against business planning, Planning ,programming and budgeting system Models (PPBS Model)
He has consulted with more than 35 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid khan is the owner of “WAM Associates” and “WAK business solutions
Source & published: articlesbase.com
N: B- This services has given by MOHAMMAD WAHID ABDULLAH KHAN
Summary: When someone uses a Personal Financial Advisor there is repeatedly a fee connected with the use of their services. Habitually times however the fee is principally outweigh by the monetary gains one notices from the advice they accept.
Introduction: The financial advisors and financial analysts pursue a certain operational procedure. Prior to providing any proposal at all, these specialized build up significant financial information about their customers and accordingly go during these data. They examine the information that has been together and try to find out the precise monetary status of their customers. Based upon this investigate, the financial advisors and the financial analysts make their suggestion
Variation:
Even though the financial advisors and financial analysts perform approximately the same purposes, there is a convinced level of Variation involving them, as well. The difference lies in the investment information that is provided to them, as well as in their professional associations with the investors. The financial advisors are more exact in their loom, as well as the content of their work, but, the financial analysts are more wide-ranging in a intelligence. The work picture is much broader for the financial analysts in assessment to the financial advisors. Following in explained Variation involving Financial Advisors and Financial Analysts
01.Financial Advisor: A financial advisor characteristically offers financial advice to both individuals and corporations. A typical financial advisor could offer persons guidance on trust/estate planning, investments, etc... They would meet with clients on an individual basis and recommend scenarios based on unique wants and needs. A monetary advisor needs to know the products and services their company offers that would best be utilized by an individual or corporation.
01. Financial analyst: A financial analyst characteristically works after the scenes to provide the advisor the financial data he/she needs in order to offer the correct product/service to the customer. For example, in my institute I meet with the client face to face, listen to their unique needs and recommend products and services designed to solve problems/save money/time, etc... The analyst would have worked in the "back office" to help develop those products, or "underwrite" risk, etc as a speculation banker, an analyst would provide me with industry research,
02.Financial Advisor: Aside from asking friends and family for referrals, professional organizations like the Financial Planning Association (FPA) and the National Association of Personal Financial Advisors (NAPFA) can help you find an adviser. When choosing a financial adviser, it's significant to ask if they have any FINRA licenses or official credentials.
02.Financial analyst: Certified Financial Planner (CFP), chartered financial analyst (CFA), chartered financial consultant (CFC), and registered investment advisor (RIA) are good indicators of an advisor's qualifications.
Conclusion: There are issues of client responsibility, as the consultant either tied or independent has a moral duty to achieve this for customers. Best advice is difficult to achieve if the advisor is not independent; therefore a type of cooperation exists where a tied or multitude advisor must recommend the most appropriate financial product accessible to suit their client’s needs, even if a more suitable product is available in the market place.
About the Author
MOHAMMAD WAHID ABDULLAH KHAN
S/O MOHAMMAD SAADULLAH KHAN
Dhaka, Bangladesh
Home page:
Mr. Mohammad Wahid Abdullah Khan is the Chief financial officer (CFO) of Orient Polymer Group (former Project director of “Max Textiles Ltd” fromMay 2010 to March 15, 2011). Prior to that he had completed over ten (10) years in various fields of Business like - Accounts, Finance, Internal & External Audit, project budgeting and project costing related positions in some of the largest group companies & the join venture companies in Bangladesh.
He consults about small- medium business owners and services professionals, business consulting service and project process. He is most experience in Financial Risk Assessment, Financial analysis, Financial Advising and Project Cost Analysis. He is a co- author of “The complete performance management”, Mr. Khan has written more than 200 articles & case studies which have published in different international journals. Such as Business, finance, personal finance, international finance, auditing, Risk assessment topic and performance & industrial related,
Mr. khan’s most popular articles is “WAK” Model - The way of best solution for an organization internal audit process,( 1st,2nd,& 3rd part) “WAK” Model”- for successful financial resource , “Wahid khan”- cost analysis, Wahid theory – the key of dynamic series for successful financial consulting, Wahid techniques – the Significance and dependability manner for Performance audit(1st,2nd,& 3rd part) Wahid’s Opinion - non-conformity among the performance audit and financial audit, Wahid’s view- The cogent task and the confront of financial/economic analysis in the modern business decision making , Wahid’s outlook - The Business Financial Analysis Should Be Included several required Documents with the analysis report or plan, WAHID’S JUDGMENT- difference strategic plan as opposed to an operational plan ,WAHID’S METHOD– the charismatic and fruitful guideline for financial investment decision making ,WAHID’SMEASURE - the influential and evaluated of similarity between profit & non- profit business planning & Wahid’s philosophy- The examined & careful consideration of strategic planning against business planning, Planning ,programming and budgeting system Models (PPBS Model)
He has consulted with more than 35 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid khan is the owner of “WAM Associates” and “WAK business solutions
Source & published: articlesbase.com
N: B- This services has given by Mohammad Wahid Abdullah khan
Summary: The objectives of External auditor have two main responsibilities. (I) it External auditor audits the annual accounts (II) External auditor considers issues raised by local population and, if necessary, takes action. The external audit and internal audit of the obtainable variations there are dealings, both have different features, they complement each other, so that the external audit and internal audit of the co-ordination is not only necessary but also feasible
External audit, counting general audit and general Audit is executing by the general audit office audit. As well as prefectures, metropolis and autonomous regions and counties set up an auditing body being audited financial actions of the financial division, the accomplishment of financial and economic law as well as cost-effectiveness of audit omission. Social audit is the examination and approval by the relevant rule departments through social intermediary agencies of the audit, its subject is the Certified Public Accountant (CPA)
external audit activities in the expansion of audit plans should obtain into account the work of both elevations to reduce rhythmic employment; to converse the audit effective credentials, external audit if necessary, inside the structure of switch of applicable operational documents in order to assessment the workload after the mutual evaluation,
Introduction: The auditor is responsible for law subject to auditing standards generally accepted financial statements of the company. Also assessment and methodically evaluate the apparatus and elements that make up the internal control, timely and independent in the manner prearranged by law. The auditor must demeanor an inclusive audit and must set out a self-regulating professional opinion of the evaluation and supervision of control classifications. It is a legal requirement that the Council must have an external auditor. All local authorities have an external auditor appointed by the Audit Commission. More or less 75% of local authorities are audited by the Audit Commission’s provider support. The other 25% are audited by private firms. An external audit process determines the accuracy of financial account statements in a profit-based organization. An external audit objective is to determine, among other things, whether (1) the accounting records are accurate and complete, (2) prepared in accordance with the provisions of GAAP, and (3) the statements prepared from the accounts present fairly the organization's financial position, and the results of its financial operations. The following accessible aspects or conditions of the external auditor objectivities on the work
01. The audit object, the state audit to all levels of government, public institutions and large-scale backbone endeavors of fiscal and financial revenue and expenditure and financial process of the main; social audit objects comprise all profits and for-profit components,
02. Financial, operational, compliance and information methods audits are the most accepted types of external audits businesses use. Securities and Exchange Commission regulations necessitate banks with total assets of $1000 million or more to preserve an inclusive external audit program, even if the same is sensible for all foremost and publicly owned financial institutions. A designed external auditing method should support an organizations internal audit plan.
03. The objective of maintaining an efficient external audit plan is to provide top management the dependability of internal gearshift over financial reporting and to guarantee them of the accurateness and correctness of business proceedings and financial and regulatory reports. It also affords an unbiased and objective standpoint of the organization's practical methods. This information is invaluable for the board of directors for managing the institution risk-management policies.
04. The function of external corroboration can not manage to pay for not to the outside world to the public; national audit, excluding those involving trade secrets or other suitable public, the audit results must be of external publicity; social audit reports are open to the outside world, for investors, creditors and the community accountable to the public, the role of social classification.
05. A financial statement audit connects a monarch audit of the financial statements in agreement with GAAP (generally accepted accounting principles) and GAAS (generally accepted auditing standards) by an IPA (Independent Public Accountant) or a CPA (Certified Public Accountant).
06. A bank's internal arrangement that gearshift financial reporting analyzes and documents the management's claims of the usefulness of internal controls over financial reporting. It may include different internal controls regarding annual financial statement preparation and exact schedules of call. The IPA will confirm the report according to GASAE (generally accepted standards for attestation engagements).
07. A balance sheet audit engages the analysis of just the balance sheet. It keeps out assessment of statements of income, changes in equity capital, and cash-flow issues. The audits are done in harmony to the GAAS.
08. The scope and requirements of the external audit, and the audit values to be assumed. Once that is developed, establish the powers essential in the auditor and the assessment process. Lastly, note any legal issues, agreement periods, auditor revolution options and work schedules.
09. The scenery of the audit, external audits is demeanor by a sovereign external body to provide documents as a third party activities on state power departments or social and public answerability.
10. In the nature of auditing, the general Audit is a managerial oversight, compulsory; social audit of social direction, the state can only identify which companies must verify auditing accounts by social audit organizations and businesses and social audit of the audit organizations are a two-way relationship between the voluntary choices; the internal audit unit to monitor them.
Conclusion: Internal audit and external audit coordination is based on: internal audit and external audit of the content, scope, standards, basis, procedures, and methods, there are many parallels similar. External audit of internal audit can be used to provide relevant information to improve audit efficiency, can be entrusted to assist in the completion of internal audit of social auditing tasks, and even with the strength and credibility of the good social audit institutions formed a strategic alliance to further increase the interior of their flats The audit supervision; external audit be able to understand the situation of internal audit, internal audit work to get the cooperation and support of internal audit results can also be used to improve
Audit efficiency,
About the Author
MOHAMMAD WAHID ABDULLAH KHAN
S/O MOHAMMAD SAADULLAH KHAN
Dhaka, Bangladesh
Home page:
Mr. Mohammad Wahid Abdullah Khan is the Chief financial officer (CFO) of Orient Polymer Group (former Project director of “Max Textiles Ltd” fromMay 2010 to March 15, 2011). Prior to that he had completed over ten (10) years in various fields of Business like - Accounts, Finance, Internal & External Audit, project budgeting and project costing related positions in some of the largest group companies & the join venture companies in Bangladesh.
He consults about small- medium business owners and services professionals, business consulting service and project process. He is most experience in Financial Risk Assessment, Financial analysis, Financial Advising and Project Cost Analysis. He is a co- author of “The complete performance management”, Mr. Khan has written more than 200 articles & case studies which have published in different international journals. Such as Business, finance, personal finance, international finance, auditing, Risk assessment topic and performance & industrial related,
Mr. khan’s most popular articles is “WAK” Model - The way of best solution for an organization internal audit process,( 1st,2nd,& 3rd part) “WAK” Model”- for successful financial resource , “Wahid khan”- cost analysis, Wahid theory – the key of dynamic series for successful financial consulting, Wahid techniques – the Significance and dependability manner for Performance audit(1st,2nd,& 3rd part) Wahid’s Opinion - non-conformity among the performance audit and financial audit, Wahid’s view- The cogent task and the confront of financial/economic analysis in the modern business decision making , Wahid’s outlook - The Business Financial Analysis Should Be Included several required Documents with the analysis report or plan, WAHID’S JUDGMENT- difference strategic plan as opposed to an operational plan ,WAHID’S METHOD– the charismatic and fruitful guideline for financial investment decision making ,WAHID’SMEASURE - the influential and evaluated of similarity between profit & non- profit business planning & Wahid’s philosophy- The examined & careful consideration of strategic planning against business planning, Planning ,programming and budgeting system Models (PPBS Model)
He has consulted with more than 35 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid khan is the owner of “WAM Associates” and “WAK business solutions
Source & published: businessezimark.com
N: B- This services has given by Mohammad Wahid Abdullah khan
Summary: Accounting generally deals with the preparation of accounting records, while Finance deals with investments, macroeconomics and business finance. Finance is important for generalists seeking careers in organization planning, management consulting, general line management, and small business management.
Introduction: An accountant will procedure journals create accruals balance sheets and establish it is additional common and felt like had the same day for two years finance is more common and found it is very cyclical and establish it is more general and will cover accounting as auditing financial advisor etc there are many distinction jobs.
Definitions of Accounting
Introduction of Definition: Accountancy (British English) or accounting (American English) is the process of maintaining, auditing, and processing financial information for business purposes. Accountancy allows the creation of exact financial information that is valuable to managers, regulators, and other stakeholders such as shareholders, creditors, or owners. The day-to-day record-keeping involved in this procedure is known as bookkeeping.
At the mind of current accountancy is the double-entry book-keeping system. This system involves making at least two entries each every dealing. a debit in one account, and a corresponding credit in another account. The sum of all debits should always equal the sum of all credits. This provides an easy technique to verify for errors.
The systematic recording, reporting, and analysis of financial transactions of a business. The person in incriminate of accounting is known as an accountant, and this individual is naturally essential to follow a set of rules and regulations, such as the Generally Accepted Accounting Principles (GAAP).Practice and body of knowledge apprehensive primarily with (1) techniques for recording dealings, (2) observance financial reports, (3) performing internal audits, (4) reporting and evaluating financial information to the management, and (5) counseling on taxation matters. It is a methodical procedure of identifying, recording, measuring, classifying, verifying, abbreviation, interpreting and communicating financial information. It reveals profit or loss for a given period, and the value and nature of a firm's assets, liabilities and owners' equity. Accounting provides information on the (1) possessions available to a firm, (2) the means employed to finance those resources, and (3) the results achieved through their use.
Bylaw Definition
Set up companies in every industry are always looking for capital to open or develop their company. This is a tackle as many of these entrepreneurs have no prior business experience or credit and have been turned down by typical bank programs. According to the start up companies all financial transactions keeping - records, process of maintaining, auditing, and dealing out financial information’s all this operate or coordination method called accounting. Below are obtainable accounting definitions the angles of law
01. The act or a structure of establishing how the assets of a business, estate, trust, or other similar entity were managed and willing
02. A lawful exploit for the healing of funds owed for services performed, property sold, money loaned, or for damage for the incomplete performance of minor contracts. See also account.
03. A legal action to complete or settle all of a partnership’s affairs. Usually done in connection with the dissolution of the partnership or with allegations of a associates transgression.
Definitions of finance
A stem of economics concerned with source distribution as well as resource management, achievement and speculation. Basically, finance compacts with matters connected to money and the markets. to promote money during the issuance and trade of debt and/or equity.
The faction of finance is the relevance of a set of methods that folks and organizations use to manage their financial dealings, principally the variations between income and expenditure. A character or organization whose income exceeds their expenditure can loan or devotes the surfeit. In supplementary - an individual or organization whose income is less than their expenditure can borrow, decrease their expenses, or increase their income. The lender can find a identical borrower, or can resort to a financial intermediary, such as a bank or the bond market. The lender receives interest, the borrower pays interest, and the financial intermediary pockets the dissimilarity.
Finance is used by Individuals (personal finance), by governments, (public finance), by businesses (corporate finance, ect.) as well as by a extensive mixture of organizations including schools and non-profit organizations. In universal, the goals of each of the tricks are achieved through the use of apposite financial instruments, with reflection to their institutional setting Personal Finance- Personal financial assessments absorb paying for education, financing resilient goods a. real estate and cars, buying insurance, like health and property insurance, investing and saving for retirement.
Business finance: In the case of a company, administrative finance or corporate finance is the assignment as long as the funds for the corporations' tricks. It normally involves corresponding risk and profitability. Long term funds would be provided by equity and long-term credit, often in form of bonds. These decisions lead to the company's capital structure. Short term funding or working capital is mostly provided by banks as line of credit. a different business assessment regarding finance is investment, or fund management. An investment is an attainment of an asset in the hopes that it will maintain or boost its value. In investment management - in choosing a portfolio - one has to decide what, how much and when to invest.
Finally the function of providing money in the form of a loan or capital is recognized as finance and is something that everyone from governments to the concealed character uses. It is also a division of economics that studies the management of money and other assets. Depending on your viewpoint, it can also be used to define the subject of managing the funds that the private and business sector uses. A company that has funds to manage will, more than likely, occupy the services of a finance manager who is expected an specialist in the field of economics.
Non-conformity
Business finance and accounting is not the same thing. the modern economic theory and apply often converse the problem of business finances and potential of acquiring and utilizing financial sources, the question of expended costs, expected revenues and accounting as well as the results of the economic efficiency and mutual dealings with these categories. But, some differences in interpreting individual basic concepts arise at different levels of conflict, new ideas, approaches and tendency. Below is presented differences between accounting and finance
01. Accounting: Accountant’s (Controller) primary meaning is to expand and afford data measuring the presentation of the firm, assessing its financial position, and paying taxes. The accountant is responsible for preparing financial statements such as the income statement, balance sheets, and cash flows. It is a good job for people who want to work separately and are very organized.
01. Finance: The financial manager or professional places primary prominence on decision making. It uses the financial statements arranged by accountants to make decisions about the firm’s financial circumstance and to recommend others about possible losses and profits. In some cases, finance is more a type of guidance position. A financial manager has to deal not only with finance, but also with economics, accounting, statistics, math, and management.
02. Accounting: Accounting is concerned with the recording of business deal in a systematic manner. As such it is apprehensive with recording the business event in a fiscal form whether the cash is occupied or not at the time of recording the business transaction. Accounting functionalities engage - (I) Recording of dealings (II). Checking the most important books like- Cash book Journals and Bank book (III) produce financial statements like profit & loss account and balance sheet.
02. Finance: Finance is apprehensive with rising of funds to meet the assorted cash flow needs of the organization. Finance roles starts from assembly the cash flow information from the accounting records and also prepare projections of cash flow. Finance activities are concerned with preparing budgets and compare the same with the actual results for finding variances.
Finance functionalities involve (I) Bank co-ordination (II) Sourcing and Application of funds (III) Preparing Budgets and (IV). MIS and EIS reporting. Finance activities will encompass through the Accounting and Operations characteristics of an organization.
03. Accounting: In accountancy - an account is a make used for recording and reporting a quantity of approximately anything. Mainly frequently it is a record of a quantity of money owned or owed by or to an exacting person or entity, or allocated to a particular purpose. It may characterize amounts of money that have really tainted hands, or it may represent a guesstimate of the values of assets, or it may be a mixture of these.
03. Finance: It refers to the procurement and successful consumption of money.
04. Accounting: Accounts is the procedure of concerning dealings on day to day basics where as,
04. Finance: Finance transactions with generating funds and utilizing funds for business on a very wide viewpoint.
05. Accounting: In terms of simply speech accounts is all dealings of the firms like- all incomes & expenditures, balance sheet, profit & loss accounts research its just basic guide accounting procedure.
05.Finance: The financial stipulations in org all allied expects similar to projects financing ,shares, bonds, debentures etc .and finance manager basically roll in finance to manage all operating expense or reducing capital expenditure its helps of gainful every business.
Conformity
Accounting is a vital part of finance. It is a sub-function of finance. Accounting produces information about the procedures of a business. The end-product of accounting is unruffled of financial pronouncements such as balance sheets, income declarations which include the profit and loss accounts, and the declaration of changes in financial position which includes sources and uses of funds affirmation. The data kept in these declarations and reports aids financial directors in analyzing the previous presentation and future inclinations of the company and in fulfilling certain lawful duties and responsibilities, such as payment of taxes and many more. Consequently, accounting and finance are virtually closely connected.
On the other hand, the role of the financial manager is not to provide financial information but to make decisions involving finance. In smaller business, with contracted portfolios of management skills, the accountant and the financial manager may be the same person. In the large business the roles are most likely to be discharged by different people or groups of people
Conclusion: Accounting is disturbed with financial evidence observance, the manufacture of episodic reports, statements and analyses, and the broadcasting of information to managers and, to some level, to investors and the world outside the business. It is also greatly implicated with the excellence, relevance, and timeliness of its information output. Clearly financial decision-makers will rely seriously on accounting reports and the accounting database normally.
About the Author
MOHAMMAD WAHID ABDULLAH KHAN
S/O MOHAMMAD SAADULLAH KHAN
Dhaka, Bangladesh
Home page:
Mr. Mohammad Wahid Abdullah Khan is the Chief financial officer (CFO) of Orient Polymer Group (former Project director of “Max Textiles Ltd” fromMay 2010 to March 15, 2011). Prior to that he had completed over ten (10) years in various fields of Business like - Accounts, Finance, Internal & External Audit, project budgeting and project costing related positions in some of the largest group companies & the join venture companies in Bangladesh.
He consults about small- medium business owners and services professionals, business consulting service and project process. He is most experience in Financial Risk Assessment, Financial analysis, Financial Advising and Project Cost Analysis. He is a co- author of “The complete performance management”, Mr. Khan has written more than 200 articles & case studies which have published in different international journals. Such as Business, finance, personal finance, international finance, auditing, Risk assessment topic and performance & industrial related,
Mr. khan’s most popular articles is “WAK” Model - The way of best solution for an organization internal audit process,( 1st,2nd,& 3rd part) “WAK” Model”- for successful financial resource , “Wahid khan”- cost analysis, Wahid theory – the key of dynamic series for successful financial consulting, Wahid techniques – the Significance and dependability manner for Performance audit(1st,2nd,& 3rd part) Wahid’s Opinion - non-conformity among the performance audit and financial audit, Wahid’s view- The cogent task and the confront of financial/economic analysis in the modern business decision making , Wahid’s outlook - The Business Financial Analysis Should Be Included several required Documents with the analysis report or plan, WAHID’S JUDGMENT- difference strategic plan as opposed to an operational plan ,WAHID’S METHOD– the charismatic and fruitful guideline for financial investment decision making ,WAHID’SMEASURE - the influential and evaluated of similarity between profit & non- profit business planning & Wahid’s philosophy- The examined & careful consideration of strategic planning against business planning, Planning ,programming and budgeting system Models (PPBS Model)
He has consulted with more than 35 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid khan is the owner of “WAM Associates” and “WAK business solutions
Source & published: articlesbase.com
N: B- This services has given by Mohammad Wahid Abdullah khan
Summary: The motive behind our investments is to make money and raise our financial wealth. With so many factors concerned, investment decision becomes a multifaceted one. Small investors frequently go with their gut approach when trying to choose among many big investors use a variety of analyzing techniques. To the increase of new opportunities and pressure to consider ahead.
Definition of decision making:
Building a decision involves that there are substitute choices to be measured, and in such a case we want not only to recognize as many of these different as likely except to choose the one that (1) has the highest likelihood of achievement or success and (2) best hysterics with our goals, requirements, existence, standards, and so on. It should be renowned here that hesitation is condensed rather than eradicated. Very little decisions are made with complete confidence because complete information about all the different is not often probable. Therefore, every decision engrosses a sure amount of risk. If there is no indecision, you do not have a decision; you have an algorithm a set of ladder or a formula that is followed to convey about a permanent effect.
Introduction: lots of decision producers have a propensity to look for more information than necessary to make a good decision. While too large amount in order is required and gained, one or more of numerous problems can happen. (1) A stoppage in the selection arises as of the time requested to gain and procedure the extra information. This impediment could spoil the efficiency of the decision or explanation. (2) In order overload will arise. In this situation, so much in sequence is obtainable that decision-making aptitude essentially refuses as the in order in its total can no longer be supervised or reviewed correctly
Grounds in decisions:
Some extensive breathing space has been dedicated to the focus of new investment consideration. It is an area where many small businesses get into deadly evils very near the beginning on. People starting up rarely have a proper structure for deciding how much money to invest in a business plan. They are usually more worried with how to raise the money. A critical look using inexpensive cash flow would perhaps change their minds, both about how much to spend on starting up and on development.
Though, in the end, any investment evaluation is only as good as the in sequence that is used to build up the cash-flow calculate. Seriously of the benefit in using DCF is that it services investors to consider through the complete resolution systematically.
The volume of the work in investment evaluation is fretful with:
2. Guesstimating and phasing the original charge of the speculation; functioning life of conveniences; functioning resources necessities.
3. Reviewing of plant harvest speed.
4. make sure that the stipulation of supplementary services and ancillaries has not been ignored.
5. Guessing in commission expenditure.
6. Guessing the velocity of taxation.
7. Guessing the lasting worth of the benefit.
Conclusion: Reminder that the compilation of absolute in sequence and the reflection of all substituted are rarely probable for the majority decisions, so that limits must be positioned on substitute. Memorize also that very little decisions are final. Don't abandon a decision impulsively as many new plans involve time to work. It may catch existence for your new stem office to get profitable but don't vacillate to change directions if a exacting decision clearly is not working out or is being someway damaging. You can forever create another decision to do impressive else.
Mr. Mohammad Wahid Abdullah Khan is the Chief financial officer (CFO) of Orient Polymer Group (former Project director of “Max Textiles Ltd” fromMay 2010 to March 15, 2011). Prior to that he had completed over ten (10) years in various fields of Business like - Accounts, Finance, Internal & External Audit, project budgeting and project costing related positions in some of the largest group companies & the join venture companies in Bangladesh.
He consults about small- medium business owners and services professionals, business consulting service and project process. He is most experience in Financial Risk Assessment, Financial analysis, Financial Advising and Project Cost Analysis. He is a co- author of “The complete performance management”, Mr. Khan has written more than 200 articles & case studies which have published in different international journals. Such as Business, finance, personal finance, international finance, auditing, Risk assessment topic and performance & industrial related,
Mr. khan’s most popular articles is “WAK” Model - The way of best solution for an organization internal audit process,( 1st,2nd,& 3rd part)“WAK” Model”- for successful financial resource , “Wahid khan”- cost analysis, Wahid theory – the key of dynamic series for successful financial consulting, Wahid techniques – the Significance and dependability manner for Performance audit(1st,2nd,& 3rd part) Wahid’s Opinion - non-conformity among the performance audit and financial audit, Wahid’s view- The cogent task and the confront of financial/economic analysis in the modern business decision making , Wahid’s outlook - The Business Financial Analysis Should Be Included several required Documents with the analysis report or plan, WAHID’S JUDGMENT- difference strategic plan as opposed to an operational plan ,WAHID’S METHOD– the charismatic and fruitful guideline for financial investment decision making ,WAHID’SMEASURE - the influential and evaluated of similarity between profit & non- profit business planning & Wahid’s philosophy- The examined & careful consideration of strategic planning against business planning, Planning ,programming and budgeting system Models (PPBS Model)
He has consulted with more than 35 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid khan is the owner of “WAM Associates” and “WAK business solutions
Source & published: articlesbase.com
N:B- This services has given by Mohammad Wahid Abdullah khan
Summary: The finance department of a company is the function in a business responsible for acquiring funds for the firm, managing funds within the firm, and planning for the expenditure of funds on various assets. Without a carefully calculated business plan, the firm has little chance for endurance.
Introduction: The finance department of a company is responsible for all of the financial aspects of a company, The Finance Department really has two fairly dissimilar jobs to perform in most companies: managing the company’s financial resources (“Finance”) and recording and reporting all its financial transactions (“Accounting”).today’s mid-sized and smaller companies don’t establish separate Finance and Accounting departments within their organizations.
Role of the Finance Department
Accounting and Finance is the heart of a business. Its functioning efficiently directly affects the rise and fall of a business. It is possible to survive, for a while at least, without an effective marketing plan, poor human resource management and indeed a poorly designed business strategy finance is a very essential to smooth running of the business No finance - no business No business, whether big, medium or small can be started without an adequate amount of finance. Right from the very beginning, i.e. conceiving an idea to business, finance is needed to promote or establish the business, acquire fixed assets, make investigations such as market surveys, etc., develop product, keep men and machine at work, encourages management to make progress and create value These departments are crucial to the financial well-being of a company and ensure that there is money for day-to-day operations and oversee investments strategies for future growth.
Finance
As the economy continues to develop, so does the role of the finance occupation within an organization, motivated by investments in activity resource planning, shared services and changes in its reporting role, most finance functions are becoming more efficientrequiring fewer resources to manage them and closely aligning with the company's business structure. This is especially true in the area of operation processing where superior computerization of financial transactions has enabled finance staff to increased their role and spend more time supporting decision-making processes, slightly than just processing and merging transactions.
As business processes develop and business questions become more multifaceted, the analytics essential to answer and act on these questions entail a higher level of data addition and organizational teamwork. For in-stance, historically, finance departments were oftentimes the only departments with access to accurate information about a company's financial results. However, this information was usually at an aggregated level and wasn't available until several days, sometimes weeks, after the end of the month. More and more overall organizations are integrating and standardizing their business processes and systems, allowing end users with both finance and non-finance functions to update and obtain financial information from any geographic location. This has significantly improved decision support within the organization.
The finance department of a company is answerable for all of the financial aspects of a company to achieve these objectives, accounting, finance, tax and other financial areas are developing data warehouses collective with sophisticated analytics to serve the needs of the entire enterprise. We refer to this advanced decision support capability for finance as financial analytics. This article examines the evolution of financial analytics and its effect on the state of data warehousing. These departments are crucial to the financial well-being of a company and ensure that there is money for day-to-day operations and oversee investments strategies for future growth.
01. Cash Flows:
Managing an organization’s cash flows and reorganization its financial logistics is of paramount importance to managing liquidity risk and optimizing interest charges. There are various ways to streamline daily cash management, because an organization daily cash flow is the most vital duty of the finance division. Every day, businesses spend money on office supplies, equipment and salaries, so it is important to monitor each day cash flows. The finance department can make adjustments and recommendations on how to adjust these cash flows for better presentation.
A company wants to keep enough cash at hand and enough income from accounts receivable and cash sales, to cover these debts. a company's cash flow statement, it is important to consider each of the various sections which contribute to the overall change in cash position. In many cases, a firm may have negative overall cash flow for a given quarter, Cash Flows from Financing Activitiesis a measure of the money that a company took in or paid out to finance its activities. It represents the flow of cash between a company and its owners and creditors. Typically included in this calculation are the issuances or repurchase of common stock, the issuance or repayment of debt and the dividends paid out to shareholders.
Chief financial officer (CFO), of finance department ismajor responsibility to control the cash flow position throughout the company, understand the sources and uses of cash, and maintain the reliability of funds, securities and other valuable documents. You receive, have custody of, and disburse the company’s excise and securities. CFO responsibility includes the influence to launch accounting policies and procedures for credit and collections, purchasing, payment of bills, and other financial obligations. Cash is king and the flow of cash, or cash flow, is the most important job a CFO has in any company. and if at all possible positioned to guidance on the selection of the most suitable electronic banking and treasury management system for organization.
02.Accounts Receivable and Payable:
The finance department also makes sure accounting and reporting. Cash and banking tricks and certain Accounts Receivable activities that client who are past due are contacted and their balances paid. A company must have adequate money coming in from its operations to cover expenses, so when credit is comprehensive, it must be paid in a appropriate manner. The finance department also makes sure that credit accounts are taken care of and paying all due bills to vendors and suppliers to cover the costs of raw material or purchased goods that were bought on credit is another area that the finance department should handle. The finance department can pay bills when they are due and make decisions on what and when to pay to exploit investment strategies.
03. Taxes:
Suitable to the current intricate tax structure across the world, finance department jobs are more in demand these days. Satisfying out tax forms and addressing deductions and tax strategies can often be performed by the finance department CFO who inspects the book of accounts and records and computes the taxes according to the laws and regulations. He also the advisors to the management/individuals concerning. The tax liability, updated tax arrangement and layering out strategic plans for minimizing tax liability. They are the ones who records, maintains and calculates the complete details of the individual/ organization's assets and their income and then computes the tax liability on those assets and income. So finance departments concentrate for this field should have good knowledge of mathematics, accounts and tax laws. They should also acquire effective communication and organizational skills.
04. Investments:
Finance departments invest extra cash to make money on the interest. Although businesses should keep a small amount of cash on hand, it is wise to invest the available money to enlarge profits for shareholders' or owners' wealth. The finance department should be able to recommended short-term investment strategies for cash and instruct owners on long-term strategies.
The Finance department is responsible for managing the financial operations Functional responsibilities include accounting, financial reporting, cash management, budgeting, debt management and investments. The accounting function includes accounts receivable, accounts payable, fixed assets and general accounting. Finance departments invest extra cash to make money on the interest. Although businesses should keep a small amount of cash on hand, it is wise to invest the leftover money to increase profits for shareholders' or owners' wealth. The finance department should be able to recommended short-term investment strategies for cash and instruct owners on long-term strategies.
The responsibility for financial reporting includes preparing monthly interim financial statements as well as the Comprehensive Annual Financial Report in accordance with generally accepted accounting principles (GAAP).
accounting:
The accounting job is typically done by the Accounting Department; at its simplest level accounting is still about abridgment and adding up the financial values and transactions connected with a business or some other enterprise. However, accounting and the role of accountants has urbanized far beyond this simple idea. The modern accountant extracts sense from a firm’s financial data: partly to help control its behavior, partly to decide what resources are available for future development and partly to satisfy the needs of a wide range of different groups who need financial information for their own purposes.
But most important to running the companies are the reports the accountants prepare for company managers, for it is those reports that managers use to appreciate their company’s financial past and make decisions about its financial future.
Accounting within firms has developed in two principal instructions: first in fulfilling the information needs of external stakeholders and, second, in providing information to management to assist them in their decision-making and other activities. The externally oriented division of the subject is called ‘financial accounting’ where statements of financial concert over a period of time are twisted the income statement (formerly the profit and loss account), the balance sheet and the cash flow statement. ‘Management accounting’ is anxious with producing internal information for the management of the firm.
Conclusion: In today's ever-changing business surroundings, financial executives are exploring ways in which the financial function can bring greater value to their organizations. To this end, they are transforming their organizations from focusing primarily on regulatory reporting to most effectively providing the information that internal management needs to more effectively "run" the business. financial executives must now think beyond the traditional financial information contained in general ledger systems and consider how best to provide for the inclusive measures and analytical methods needed to drive decisions during complex, dynamic companies.
Mr. Mohammad Wahid Abdullah Khan is the Chief financial officer (CFO) of Orient Polymer Group (former Project director of “Max Textiles Ltd” fromMay 2010 to March 15, 2011). Prior to that he had completed over ten (10) years in various fields of Business like - Accounts, Finance, Internal & External Audit, project budgeting and project costing related positions in some of the largest group companies & the join venture companies in Bangladesh.
He consults about small- medium business owners and services professionals, business consulting service and project process. He is most experience in Financial Risk Assessment, Financial analysis, Financial Advising and Project Cost Analysis. He is a co- author of “The complete performance management”, Mr. Khan has written more than 200 articles & case studies which have published in different international journals. Such as Business, finance, personal finance, international finance, auditing, Risk assessment topic and performance & industrial related,
Mr. khan’s most popular articles is “WAK” Model - The way of best solution for an organization internal audit process,( 1st,2nd,& 3rd part)“WAK” Model”- for successful financial resource , “Wahid khan”- cost analysis, Wahid theory – the key of dynamic series for successful financial consulting, Wahid techniques – the Significance and dependability manner for Performance audit(1st,2nd,& 3rd part) Wahid’s Opinion - non-conformity among the performance audit and financial audit, Wahid’s view- The cogent task and the confront of financial/economic analysis in the modern business decision making , Wahid’s outlook - The Business Financial Analysis Should Be Included several required Documents with the analysis report or plan, WAHID’S JUDGMENT- difference strategic plan as opposed to an operational plan ,WAHID’S METHOD– the charismatic and fruitful guideline for financial investment decision making ,WAHID’SMEASURE - the influential and evaluated of similarity between profit & non- profit business planning & Wahid’s philosophy- The examined & careful consideration of strategic planning against business planning, Planning ,programming and budgeting system Models (PPBS Model)
He has consulted with more than 35 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid khan is the owner of “WAM Associates” and “WAK business solutions
Source & published: articlesbase.com
N:B- This services has given by Mohammad Wahid Abdullah khan
