Wakbs Instructions (part 02) - What important things you should maintain to develop Your Business and get your business dreams

BY:WAK BUSINESS SOLUTIONS 

Summary: Businesses can generate revenue from selling more of the current products to more of the current customers, more of the current products to new customers new products to current customers or new products to new customers you have maintain a good relationship with your clients, If you have any inquiry regarding the fittingness of any evidence presented by contenders, you should contact your External Verifier to confirm if the evidence is acceptable. 

Introduction: The world of the business policy prosecutions plan competitions every things as we are know it rapidly changing , even as little as 01 decade ago the times were mediator then they are today but they doesn’t mean that we didn’t experience and change back then on the country we were as are toddy in a status of change today but the change to be happening make sure rapidly as a part of organizations then human resource management must be prepared to deal with the effects of the changing world of work , That means understanding the implications of the technology change workforce diversity labor shortage changing skill requirements continuous implement institute

Author comments: this articles I have make clear that as a business owners how you manage your clients if you want to maintain effective business support relationship with your client you should keep all of clients report as a filing system whether an individual or a team,  You should develop your providing services that clients trust in your organizations and your work, in support of this requires you to train skills from good listening to accounts manager and the promotion of your organizations services , for maintain effective business relationship and achieve your business goal  You need to know, understand and be able to apply each of the following.

01. Give you an idea about: 

Whenever clients procure from your business, you could include the name of your clients into the list and then try to preserve a good contact with them. This technique is vital to keep good relationship with the customers of your business as they should have visited many websites before making a decision to purchase from you and they would certainly have a positive reason for doing this. You could listen to them and follow the implications from these clients to get better your website. You should try to answer questions from your clients even though they show that they are not enthusiastic to buy the products. You should act competently and answer the questions as detailed as possible.

This is quite important because if you show no interest to talk to your clients when they ask questions about things which are not connected to the products you are selling; they would think that you are not unswerving. There are a lot of sellers who are willing to give good customer services to the clients so if you are not willing to offer good customer service, they would find another one. So, good customer overhaul would be the key to found good relationship with your friend. And of course, if you think that personal care is not enough,

02. Interpersonal and communication ability:

A good communication plan can bring value to the engagement in a number of ways It helps set customer expectations, acts as an assurance factor that bolsters the client’s confidence, builds consensus around the assignment and helps market its benefits, and gives the client and the various electorate in the organization an opportunity to give feedback on the results of our efforts.

You need to be sure that we’re communicating clearly what you have committed to deliver, what you can or can’t complete, and what your role is and what the clients’ or subcontractors’ roles are, and you need to be sure that we are setting budgetary and schedule expectations. Maintaining an email relationship with a client helps to better understand what, when you are working with a client that you have built a healthy relationship with and have worked on different projects with before, you know what quality and type of work that client wants from you.

03. Personal behaviors:

Good office behavior plays an important role in establishing a manner of personal behavior by employees in an office. This will help to encourage positive interaction between co-workers and between employees, business partners and clients as well. Hence to produce more productivity and happier working environments.

You we must handle every telephone calls with a pleasant voice. Even during rushing time, try to appear calm and unhurried while leading the call to a conclusion. Always be polite during the conversation. That your personal appearance plays an important role as self image at the office. However, please ensure the correct time line for making up yourself. Makeup should be applied on before starting to work, at home or in the rest room. Applying makeup at the desk will withdraw our working attention.

You need to show the following behaviors.

 Appreciate how an organization operates in different client sectors, modify your approach to align with the client’s goals and circumstances, respect the client’s need for information, commitment and confidentiality. Build and maintain rapport over sustained periods. Also invite a two-way exchange of information and feedback with clients and others.

04. Support relationships aptitude:

One of the most important parts of our work is maintaining and enhancing our relationships with our clients. Maintaining and growing these relationships makes the time spent on a project more enjoyable, satisfying and effective. Improved relationships also improve the chance that we will get referrals and future business.

This is the number one guideline for a successful client engagement. Without a clear contract neither you nor your client can be clear on roles and responsibilities, deadlines and deliverables, methodologies and measures. Beyond the importance of the contract to the project itself, a clear contract also is a great aid to a good working relationship. The goal of a contract is clarity, not legalese - as such; it is a great aid to improved client relationships. You need to understand and take account of: the conditions for accepting clients onto different business support services benefits and drawbacks of working in different physical locations ,the boundaries of the relationship between you and the client;&  the ways that different clients prefer to work;

Conclusion: This advice starts before you investigate for those evils. It creates with being alert, and considerate the big image of the client's business objectives. Patrons will normally be delighted if you can recognize areas for development - particularly when you have suggestions on how to improve the situation.

WAK BUSINESS SOLUTIONS

MD.W.A.KHAN

Wak Business Solutions blog: http://wakbusinesssolution.blogspot.com

BACKGROUND: WAM Ltd was founded by Mr. MOHAMMAD WAHID ABDULLAH KHAN (director) & Mr. SYED MAHTAB UDDIN (director) in 13 March 2007 for home based & freelance consulting firm. Then 11 August 2009 WAM Ltd newly abloom as a WAK BUSINESS SOLUTIONS with wide range in business consulting market arena, WAM ltd was created to address the need for quality service of comprehensive Accounting, Finance and tax documentation. WAK BUSINESS SOLUTIONS will continue to expand its client base within the greater market area.  

Wak Business Solutions is a sole proprietorship, owned by Mr. W.A.KHAN. As the business expands the firm may develop strategic alliances with other companies. Wak Business Solutions decided to continue to provide specialized consulting services to small and medium sized Businesses

SUMMARY: WAK BUSINESS SOLUTIONS is an accounting, finance, marketing & research, industrial human research and professional business plan certified management consulting firm that helps to companies develop. Business plans, and so on. We guide our clients through the creation of top-notch business plans, financial projections, and other supporting materials to powerfully present their company,

EXECUTIVE SUMMARY: WAK BUSINESS SOLUTIONS provide its professional development services in the most effective manner and with an ongoing comprehensive quality-control program to provide 100% client satisfaction. General Ledger, Accounts Payable and Receivable, Payroll, Billing, Collections, Filing of national & international standard, also local Forms, and Tax Preparation are services necessary to each corporate entity and individual. Assistance in these endeavors is the basis of Wak Business Solutions and the makings of a highly profitable venture.

Conclusion:

More than 10 years of professional consulting, we’ have sold our services to more than 30companys, also provide free consulting services more than 50 (fifty) International organization through online and we can sum up ours ideas in one dictum: we are not a public prosecutor, so this is not legal advice. It is strategic or conceptual advice. We never use the word "contract" with a client, but rather, "agreement," or simply "letter.” Never submit a proposal until after you've agreed to all the terms—and keep it short, we say “Do you want to cover X and Y, but not Z; or would you prefer X and Z, but not Y?" And most important of all, "What is your budget for this? Why we're the best to take on the assignment?

(01). what we will do to solve the problem(s)? (02). what is included? (03). what is excluded?

(04). Professional fees & (05) Warm ending otherwise Proposal-writing is fruitless.

Source and publishes: articlesbase.com

N:B - this services has given by MOHAMMAD WAHID ABDULLAH KHAN

The Importance of trade Credit Management

BY:MOHAMMAD WAHID ABDULLAH KHAN

Trade credit is a potential source of finance; financial managers may have to consider its position in the "pecking order" when choosing between alternative sources of funds if they are to minimize the cost of finance .the trade credit to finance their operations when the price of a loan rises over the cost of trade credit,

Introduction: The main purpose of any business is to maximize owner’s happiness, in other words "getting paid " Because business is essentially afraid with the sale of goods or services on open account at profit, the credit function plays an vital, essential role within the organization.  The credit function is the relation between customers and many other business functions such as marketing, sales, production, shipping, customer service and accounts payable.  It contributes to the common main objective of maximizing profit by means of an boost in credit sales and the net income from sales by granting credit. 

Unhurried payment and a high part of bad debt will defeat the main business objectives.  If payment is made late, then profitability is eroded. On that basis, it is only good business observe to put credit management at the "front end" which will construct real benefits.

The credit role symbolizes a business decision that requires both financial and strategic decision making to promise that a proper balance of benefit is resulting from sales against carrying the cost or potential loss. The realization of a suitable match or “well” between an organization’s strategies and its credit purpose strategy has optimistic belongings on the organizations presentation or performance,

What is trade credit?

Traders can exchange their products/services for cash, but if they prefer to permit a time lapse between the business deal of delivering goods and services and the acceptance of cash they are permitting the consumers to delay payment and for that reason offering credit. So, trade credit is presented by non-financial firms that are in business not to afford finance to their customers but to sell them goods/ services. Even though there are many dissimilar explanations of trade credit, they all concur on the truth that it is the deferring of payment to a settled date in the future. Trade credit provide thus creates a current advantage in the firm's balance sheet: "trade debtors".

Importance of Credit Management

Consumers are the steam engine of the economy, if credit dries up; consumers have main difficulties in borrowing. In different consume less because they have less entrée to credit. For the reason that of this producers will sell less, and produce less. Fewer employees are needed so more will get laid off. Less working people + less output = lower GDP. This could create a unhelpful spiral.

Most organizations have dedicated sales order, manufacturing, accounting and ordering system but very little around credit management attempting to implement a credit policy without systems to support it is a brave choice decision

If organizations invested a great deal of energy into supplying his products and services, but turnover only becomes profit when customers have actually paid. It is consequently very significant to know whether customer can and will be able to pay invoices on time. This offers security and prevents a lot of tribulations. Bad payers have a unhelpful effect on organizations cash flow, organizations balance sheet ratios and profit and loss account or income statement. Additionally, they put in a difficult dilemma; organizations would really like to collect accounts receivable quickly, but organizations also want to retain the good relationship with organizations customer.

In details:

Having good credit is significant. Mortgage lenders want to know that you won’t failure to pay on your mortgage. If you don’t have good credit, the lender will regard as it risky to give you a mortgage loan. This could result in a higher cost of borrowing or worse, a denial of the loan

Don’t think that because you’re not on the advertise for a new home, your credit is used for take on decisions, too. Landowners consider your lease as a loan. You’re being loaned a place to live and the landholder wants to know you’ll pay back this loan. If you don't have good credit, you can get denied for an apartment.

Shipping:

Except you have the cash to buy a car, you’ll have to get a loan. Your credit not only influences whether or not you be eligible for a loan, but as well the amount and interest rate of the loan. Normally, loan candidates with good credit be eligible for bigger loan amounts with lower interest rates.

Entrepreneurship

A lot of public have thoughts of opening their own trade. The majority business startups necessitate a great amount of cash that you capacity not have accessible. In that case, you’ll need to gain a small business loan. Between other possessions, you want to have good credit to be eligible for the business loan.

Efficacy Services

It may be somewhat appalling to be taught that your credit is required to create efficacy service. Your exciting corporation contends that you’re borrowing one month of exciting service. So, before turning on your power, the company will check to see if you have good credit. This affects to most efficacy services including lead, telephone, water, and even cell phone.

as your acknowledgment is different by how you’ve paid (or not paid) your bills in the past, many businesses landlords, mortgage lenders, efficacy providers, and even employers  use your credit to forecast your future financial accountability. Anytime you require borrowing money, or even services, your credit is called into query. This is why maintaining good credit is so important.

Conclusion: so that responsible credit management is very important to saving money and ensuring that you are not overpaying for matter that you want. Everybody is able of making responsible credit decisions if they are alert and select their choices carefully. For all of the erroneous credit decisions you can make, there are frequent good credit decisions you can make as well which can help you to ensure you always have several options to choose from so you can select the best credit management option for your needs

About the Author

MOHAMMAD WAHID ABDULLAH KHAN

S/O MOHAMMAD SAADULLAH KHAN

Dhaka, Bangladesh

Mr. Mohammad Wahid Abdullah Khan is the Project director of “Max Textiles Ltd”.Mr. Wahid has been in accounting field since 1999. 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 has published more than 200 articles & case study 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’S MEASURE - 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,&  PPBS MODEL,

He has consulted with more than 30 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid 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

 

The presumption for Combination of business processes

BY: MOHAMMAD WAHID ABDULLAH KHAN

Summary: Combinations of business have been more skillful at this position of wellbeing than others. And more will be demanded in the next few years. Users forever need more: more data, more data sharing, more applications, more processing time, more reports and more admittance.

Introduction: Over the last few years, every business has countenanced an ambush of challenges: global economic instability, fierce competition, customer churn, mergers and acquisitions, rising security concerns and waves of regulatory compliance issues. For now, stakeholders continue to demand that top executives increase profits, lower costs, expand market share and grow revenue. In that circumstances Combination of business processes makes sure that the principles and accomplishment Program becomes prepared and victorious.

Meaning of business process:

A business process is a compilation of business communications among business partners and/or inside activities within one business. These communications and/or activities together maintain the purpose of the business process.

The business process is a succession of activities going on within a company that guide to a exact end. Most repeatedly, the business process focuses on meeting the needs of the client and distributing a good or service that will perform that require. Case in point - A business processes comprise getting orders, invoicing, shipping products, updating employee information, or setting a marketing budget. Business processes arise at all stages of an organization activity

In a short- progression of understandably connected activities or errands. Like planning, assembly, sales completed mutually to produce a defined set of results. This is also called a business occupation.

What is business Process Documentation?

The key to every successful business is classification and announcement of the repeatable processes that make the business go. It is a process of methodical and succinct imprison of critical business related plans and concepts so that the information can be shared with concerned individuals in future for smooth running of the business. The aim of process documentation is to discover from previous execution experience and use it in the present circumstances according to the policy and strategy of the organization. Devoid of documenting the procedures needed to perform your business,

Combination of business:

Combination of business processes makes sure that the ethics and fulfillment Program becomes operational and successful.

01. Increasing clear policies and measures

02. Corresponding to, and training, employees about the code of conduct and related practices

03. Observing progress

04. Expositing to management/partners and the board-leadership lineup

05. Fine-tuning strategies

06. Corresponding the company’s successful presentation to key stakeholders. Gauging the efficiency of ethics agendas is hard, but it is vital to ensuring ethical behaviour is incorporated into the managerial procedures. There are a number of conducts to check and assess the victorious embedding of ethical behaviors. Some of the more ordinary presentation indicators include:

07. System of conduct awareness signatures

08. Helpline consciousness, call decision and trends

09. Satisfactoriness of program certification

10. Risk management and early detection

11. Steadiness of enforcement

12. Principled culture surveys and worker opinions

13. Management’s rejoinder to issues raised.

Conclusion:

Corporate governance, business ethics and successful fulfillment management are more and more critical to an organization’s standing and accomplishment. To recover public trust, maintain standing and grow market share, all organizations need to implant ethics and observance into their culture and core business processes. The eventual success or failure of an organization’s code of conduct and business ethics program will rest upon the values and culture created by the board of directors or leadership team, and eventually embraced by its entire people.

About the Author

MOHAMMAD WAHID ABDULLAH KHAN

S/O MOHAMMAD SAADULLAH KHAN

Dhaka, Bangladesh

Mr. Mohammad Wahid Abdullah Khan is the Project director of “Max Textiles Ltd”.Mr. Wahid has been in accounting field since 1999. 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 has published more than 200 articles & case study 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’S MEASURE - 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,&  PPBS MODEL,

He has consulted with more than 30 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid 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

 

Definition of auditing & Dissimilarity connecting - Auditing and Accounting

BY:MOHAMMAD WAHID ABDULLAH KHAN

Summary: An audit typically gets one to two weeks, and involves "an assessment of ledgers, journals, bank accounts, sales invoices, purchase vouchers, and expense accounts." They go on to point out that the audit process and seeking information and assistance from organization workers.

Introduction: Generally we know that a financial statement means the balance sheet and profit & loss accounts. The financial statement provide the actual financial position or financial information in an organization or business,

The opinion on financial information is articulated after examination and verify of books of Accounts documents, records & voucher and go on to point out the true and fair financial position or result of operations in an organization. For complete all this prosecutions the owners of the business would appointed a person to check the accounts documents with determining the accuracy and reliability accounting statement & reports. Those appointed person who completely the accounts examined and tender a report to the authority as a rule the person is a auditor, and his profession of accounts examination, verify and obtainable  report all this task typically we called auditing,

Author note: A lot of analyst and authors has illustrated about the “definitions of auditing” although they elucidated very well but at times it's actually complex to recognize for the learners clearly. I had a dreadful experience when I was a learner. Now, as a financial analyst I felt to write this matter in a very and easy way so that the learners/professionals don't have to go door to door to understand this. Below is my definition of auditing and others importance matters that related with auditing. I hope a student, learner & auditors will be helpful from this,   

Definition of auditing: audit is a process of examining and verifying a company’s or organizations financial records and supporting documents, this audit process is a step by step systematic appraisal of a company's operating systems. that properly drawn up so as to exhibit a true and fair view of the financial state of affairs of the business financial period.

“Dissimilarity connecting Auditing and Accounting “

Most of the public confuse about the auditing and accounting, the confusion arise due to the most auditing is usually concern with accounting information and many auditors have considerable expertise in accounting matters. Basically the general public confusion are increased by the designation “certified public accountant (CPA) or chartered accountant (CA) but the designation holder perform audit,

Before make discussion about auditing, I think it is necessary to explained “Dissimilarity connecting Auditing and Accounting “it will helpful for leaner to clear understand about the auditing process and accounting method, below I have presented “Dissimilarity connecting Auditing and Accounting “

01. Accounting: Accountancy is to record the contract in the book of accounts, removal of trial balance, preparation of Trading and profit and loss account and balance sheet etc. 

01. Auditing: Auditing is the examination of books of account and scrutiny the financial statement for the purpose of finding out the true and fair position and results of action of a concern

02. Accounting: The auditor is asked to write the books of accounts, remove an agreed trial balance and profit and loss account and Balance sheet; he would be doing the work of an accountant and not the work of an auditor.  Grounding of account is not the part of auditing. 

02. Auditing: An auditor, using his assigning  power, needs to check methodically, whether the Profit and Loss account  and the Balance Sheet have been properly haggard up and revel the 'true and fair view' of the state of relationships and results of operation of the concern and report it to the gathering attracted.

03. Accounting:  Auditing without the prior continuation of accounts is not possible. 

03. Auditing: The accountant finishes his work, the auditor starts his work.

04. Accounting: all the Accountants are not auditor.

04. Auditing: the all auditors are accountant

05. Accounting: An accounting has to record the transactions in the books of accounts.

05. Auditing: An auditor has to check and verify such transactions and accounts and send a report to the person who appointed him.

Conclusion: I further of considerate accounting - the auditor must process capability in the gathering and the explanation of audit evidence. this proficiency that differentiates auditors from accountants formative the proper audit procedures deciding the number and types of items to test and evaluating the results are problems unique to the auditor.  

About the Author

MOHAMMAD WAHID ABDULLAH KHAN

S/O MOHAMMAD SAADULLAH KHAN

Dhaka, Bangladesh

Mr. Mohammad Wahid Abdullah Khan is the Project director of “Max Textiles Ltd”.Mr. Wahid has been in accounting field since 1999. 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 has published more than 200 articles & case study 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’S MEASURE - 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,&  PPBS MODEL,

He has consulted with more than 30 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid 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

 

Objectives of the organizations or companies financial statements audit.

BY:MOHAMMAD WAHID ABDULLAH KHAN

Summary: The objective of a financial statement audit is to verify whether the financial statements are free of substance misstatement. An audit comprises investigative, on a check basis, proof sustaining the amounts and revelations in the financial statements. An audit also contains assessing the accounting principles as well as estimating the overall financial statement presentation.

Author interpretation: Earlier one of my article” Objectives of the firms or companies financial statements analysis” I have uttered that any companies or firms financial statements analysis is very importance. The major benefit is that the investors get enough idea to decide about the investments of their funds in the specific company. Financial statements analysis can help the government agencies to analyze the taxation due to the company. Moreover; company can analyze its own performance over the period of time through financial statements analysis.

In this article” Objectives of the organization or companies financial statements audit” I have explicate the objectives of the financial statement audit. These audits are meant to afford practical declaration to creditors and investors that the financial statements are truthful

Introduction: when companies have their financial statements, policies, and measures evaluated by an auditor. This evaluation procedure is called a financial statement audit. The auditor inspects a company’s financial documents to decide if that company’s financial statements conform to Generally Accepted Accounting Principles (GAAP). The reason of the audit is to afford declaration that the financial statements, and allegations presented by company management, are complete and perfect.

Objectives of audit:

Commonly, a financial statement audit is concluded in numerous ladders, as well as the planning stage, sample testing, controls and business deal testing, exposé testing, final reporting, and release of the auditor’s opinion. The audit planning stage occurs prior to the end of the company’s financial series. The company determines the series, which is usually quarterly or annually.

The audit work is performed in agreement with Generally Accepted Accounting Principles (GAAP) and includes those reviews of internal controls, tests, and verification of data and other actions deemed essential by the auditor. Classically, annual financial statements are focus to audit while provisional statements are not.

01. Determine if the statistics obtainable are fair demonstrations of the company’s process for the year in order to come up with a precise calculation of tax liabilities.

02. Authenticate if the report is significantly error-free. Modifications or improvements, if any, must not result in any matter dissimilarity that could modify the decisions of the financial statement users, had they been accessible with the correct statistics. It is fairly significant for public companies to present financial reports that reproduce the real situation of the business to provide investors and creditors with a precise basis for investment or lending decisions.

03. Review if the figures accessible were computed, estimated, recorded, and offered in accordance with the generally accepted accounting principles based on elementary and GAAP rules. Management has to make spirited decisions by using the specifics and statistics controlled in financial reports that were equipped with comparative uniformity against those of other companies occupied in a similar trade.

04. Appraise if the financial statements were equipped beneath an internal control configurations, in which counter-checking events, aimed at minimizing and eradicating the incidence of scam or error, are incorporated. In view of such counter-checking events, assess the level of fulfillment within the company as a whole to locate possible breakdowns or limitations.

05. Perform a chance verify to find out if there are no collapses in internal control procedures that may have permitted the perpetration of scam.

06. Outline matter errors to establish their root causes, and find out how and if they were attuned, rectified, or treated before they were used as statistics for financial statement appearances.

Conclusion: formerly the testing and evaluation stages are inclusive; the auditor can decide the financial statement audit. The auditor abridges the results in a written statement that is distributed to company management.

In conclusion the auditor concerns a judgment based on its final statement. An untrained judgment indicates that the financial statements kowtow to GAAP. An auditor can matter a qualified opinion if, during the audit, it finds a deviation from GAAP, or if the audit could not be completed for some reason. An adverse opinion may be issued if the auditor finds material misstatements, or if procedures do not follow GAAP standards. The judgment is usually published with the company’s financial records in its annual report.

About the Author

MOHAMMAD WAHID ABDULLAH KHAN

S/O MOHAMMAD SAADULLAH KHAN

Dhaka, Bangladesh

Mr. Mohammad Wahid Abdullah Khan is the Project director of “Max Textiles Ltd”.Mr. Wahid has been in accounting field since 1999. 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 has published more than 200 articles & case study 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’S MEASURE - 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,&  PPBS MODEL,

He has consulted with more than 30 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid 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

 

FINANCIAL ANALYSIS TECHNIQUES & TOOLS WHICH ARE DESIGNED FOR ANALYZING THE MARKET & INVEST RIGHT WAY FOR MAXIMIZED PROFIT

BY:MOHAMMAD WAHID ABDULLAH KHAN

Summary: The analysis techniques & tools can be used for deciphering both internal as well as external sequence regarding an exacting business group. The present economic situation are evaluated by the supervision & proficient with the help of Wahid theory achieved by financial analysis techniques & tools

Financial analysis techniques & tools is a very immense material of financial & business area, it is impossible to the present whole of the function of Financial analysis through an  articles or report , also as a financial consultant I have tried to explained it shortly that financial analysis techniques & tools in an organization’s operations,

I think if you want to be a successful financial analysis, you need to know how to relay your company’s financial modeling & financial data to management, gain insight into business financial statements of competitors, understand the financial model of your supplier, and more.

Generally we know that - Sound financial decisions depend on sound financial statements. It’s not enough anymore that you know how to calculate average weighted cost of capital, determine cash flow, or understand ratio analysis. These impressions are not easy to describe and just I have only described the introduction to them of financial analysis techniques and tools

I have explained in my article a general accepting of financial analysis techniques and tools

The most important concept is break-even analysis. This determines the point at which your business begins making a profit.

Break-even analysis is mainly vital in the planning stages of your business. It shows what sales and fees you need to create on a daily, weekly or monthly base, in classify to pay your everyday expenditure.

To put collectively a break-even analysis, you must first separate variable costs from fixed costs. Fixed costs are predictable on a monthly base, and arise whether or not you are open for business, although variable costs modify according to your business operations, for instance the cost of your supplies, material or labour. Financial analysis mainly takes or done tree decisions through his techniques and tools, financial analytical techniques equally can be filled up into these decision units.

I. Investment decision,

II. The financing decision, &

III. The dividend decision.

Develop of an exact analytical model, for example: net present value or internal rate of return, depends on the difficulty being asked. Many problems in financial management can be dealt with by employing more than one financial analysis technique. The purpose of applying an analytical technique is not necessarily to calculate a specific answer; quite, the purpose of a technique is to afford a more knowledgeable base on which to make a decision. An important consideration in financial analysis is timing. The timing of different financial policies is important in terms of interest rates, inflation, taxes, and the capital market. Most of the techniques used in financial analysis engage a point in time element

(I).Investment Decisions:

Investment decisions are possibly the most vital of the three types of financial decisions, because Different techniques are used for effective management of short-term Cash and accounts receivable than for purchases of long-term fixed assets. Investment judgment in this perspective refers to both short- and long-term reallocations of company funds. Short term investment judgments include the level of current assets (cash, accounts receivable, and inventories) necessary for everyday operations; whereas long-term investment judgments refer to fixed asset purchases, mergers, acquisitions, and corporate reorganizations

(II). Financing Decisions:

While making financial decisions, the financial analysis must determine the best financing combine or capital makeup for the company. In this logic, the best alternative is the capital makeup that allows the best evaluation of the company for the shareholders. The vital rudiments to judge in making financial decisions comprise: (1) the personality and friskiness’ of the business function; (2) the capital makeup desired; (3) the extent of time the assets will be needed; and (4) the cost of different financing.

III. The dividend decision:

The dividend policy that the business chooses is also a subject of analysis in financial management. Techniques, The three typical dividend alternatives-the stable dividend policy, the even payout ratio, and the standard low dividend policy in addition extra-must be evaluated according to the company's exact position

Financial Analysis Techniques: Financial Analysis Techniques is embattled toward external reporting and analysis, following generally accepted accounting principles (GAAP) as the foundation for the data used, this is a proper guideline & .which will be helpful for  discover how to financial analysis used techniques & tools in an organization’s operations,

•accept the information, models & studies used to effectively communicate the financial side of your business to your non-financial generation

•assessment, restore and keep informed for your analytical skills to gain better insight into an organization’s operations

•affective assessment drivers to recover the value of your business

•Employ sustainable development techniques to assess your increase theory

•exemplify and correspondence the impact of operations on cash flow to your operational invention

Financial Analysis Techniques: Financial Analysis Techniques educate or informed you to use financial information effectively so you can develop better insights and analysis of your organization. You will be able to learn about:

•External analysis—competitors, customers and suppliers

•Internal analysis—liquidity, cash flow and performance

•Evaluating alternative analysis strategies

•Integrating key metrics

Financial analysis techniques & tool can be used for Wahid theory .The expression or Wahid stands for: 

•W-      Wakefulness

•A -      Accountable

•H -     Heed

•I -       Intelligence

•D-       Determination

“Wahid theory” is just guide to the financial consultant, financial planner, financial adviser, business owner, reader from end to end a complete financial valuation and financial valuation tools in an organization that professionals can use in preparing business valuations. I hope this prepared to possible during used on a “Wahid theory” basis.

If you are writing a business plan for a bank, your bank manager will want to see that your ideas are well thought out, but the most important aspect to him or her will be your financials. Are your assumptions realistic? And will the cash flow of the business be enough to ensure that you can make the monthly payments for the loan that you have requested? If your business is making $1,000 a month and your payments are $1,200 a month, the bank is likely to turn you away

“Wahid theory” on valuing businesses conveyed in a series of easily understandable Exposed to total financial consulting issues: Financial valuations are very much affected by specific facts and circumstances. Every situation is unique and differing facts and circumstances may result in variations of the applied methodologies. Nothing contained in these written materials shall be construed to represent the rendering of valuation advice; the exposé of a valuation opinion; the picture of any other professional opinion or service.

 

About the Author

MOHAMMAD WAHID ABDULLAH KHAN

S/O MOHAMMAD SAADULLAH KHAN

Dhaka, Bangladesh

Mr. Mohammad Wahid Abdullah Khan is the Project director of “Max Textiles Ltd”.Mr. Wahid has been in accounting field since 1999. 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 has published more than 200 articles & case study 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’S MEASURE - 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,&  PPBS MODEL,

He has consulted with more than 30 service & product companies, in recent years Mr. Khan has been spending most of his professional time for financial consulting, Mr. Wahid 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