neoaccounting

    Bola Onadele MD/CEO , Financial Markets Dealers Quotations (FMDQ) OTC PLC Mr. Onadele has over 20 years of experience in financial markets architecture and diplomacy. He championed various financial markets infrastructure initiatives in Nigeria, among which two-way quoting system, Nigerian Inter-bank Offered Rates (NIBOR), Nigerian Inter-bank Treasury Bills’ True Yields (NITTY) and the Contributors’ Home Ownership Scheme (CHOS). Mr.Onadele also served as consultant to the World Bank-IFC on the development of the Nigerian corporate bond market. He was appointed the Country Manager of the Efficient Securities Market Infrastructure Development (ESMID) program in 2009. How the FMDQ sees the role of government debt in galvanizing the Nigerian economy The FMDQ initiative is based on a foundational understanding of the role of government debt in stimulating an economy. Government debt supports conduct of indirect monetary policy operations; acts as benchmark for long-...

#BANKING             The FMDQ concept was promoted by the Financial Markets Dealers Association (FMDA) in 2009 and sponsored in 2010 by the Bankers’ Committee. The Bankers’ Committee is chaired by the Central Bank of Nigeria (CBN), with the Nigeria Deposit Insurance Corporation (NDIC) and all the banks and discount houses operating in Nigeria as its members. The Committee resolved to operate all the over-the-counter (OTC) inter-bank market activities in fixed income and currencies under a Securities and Exchange Commission (SEC)-registered self-regulatory organisation, and be governed by this authorised body.           In order to fulfil this purpose, FMDQ OTC Securities Exchange was incorporated on January 6, 2011 following a ₦100million contribution by the CBN and equal contribution of ₦15million by each of the 25 banks and 5 discount houses (operational as at December 2010) to the com...

One of the main reasons businesses fail is because there isn't a good bookkeeping system in place that would provide warning signs the business could run out of cash. You can choose to set up a bookkeeping system manually (using accounting books), electronically (spreadsheets) or use accounting software. Unless you want to get familiar with bookkeeping practices, accounting software is the most efficient choice. What to consider Every business will have different requirements from an accounting software. When choosing an accounting software consider the following: does the system calculate all payroll requirements (PAYE, annual leave, long service leave etc.) does the system track stock, work in progress, orders, jobs and other task management requirements will the system be able to handle multiple bank accounts does the system need to handle foreign currency does the system track separate financial records for each business or department within the business do...

  20.   Cyma      CYMA's award winning Payroll, HR and Employee Self Service (ESS) software provides a complete solution for in-house corporate payroll users. Thousands of corporate and non-profit agencies around the country ranging from 50 to 5,000 employees depend on CYMA for their Payroll software needs. Featuring a highly flexible payroll system with electronic direct deposit, W2 and tax filing systems, and included ACA 1095 & 1094 utilities, CYMA can help you save money bringing your payroll processing in-house. CYMA's Human Resources system provides complete benefit management, employee credentialing, OSHA injury tracking and more. CYMA's web based, Employee Self Service helps companies drastically reduce employee payroll costs & increase worker productivity with online time entry with supervisor approval and secure, payroll information for employee access. www.cyma.com   19.   Yendo  ...

(By Michael Cohn) The Financial Accounting Standards Board released its long-awaited accounting standards update for not-for-profit financial reporting, albeit with scaled back ambitions to keep the standards for non-profit organizations aligned with standards for businesses.   The update aims to improve how a non-profit organization classifies its net assets and provides information in its financial statements and notes about its financial performance, cash flow and liquidity. “The major changes really revolve around the net asset classification,” FASB board member Larry Smith told Accounting Today. “We’ll be changing the three net asset classes that we have now, which are unrestricted, temporarily restricted and permanently restricted. We’ll just have two classifications: unrestricted and donor restricted. That will hopefully make things more evident and remove some of the confusion that exists today.”   The accountin...

  What Do We Mean by Finance Leadership & Development? Finance leadership and development involves ensuring that professional accountants in business—or finance professionals, as they are often called—respond to the continually changing expectations of their organizations, the financial markets, and society. “Professional accountants in business” have diverse roles, and support their organizations in a wide range of job functions at various levels. These include: Leadership/management: chief executive officer (CEO); chief financial officer (CFO)/financial director (FD); chief operating officer; director of governance or operations; treasurer Operational: business unit controller; financial or performance analyst; cost accountant; resources manager; business support manager; systems analyst Management control: business assurance manager; risk manager; compliance manager; internal auditor Accounting and stakeholder communications: group controller; head of reportin...

  What Do We Mean by Sustainability? Many definitions of sustainability and sustainable development exist, but arguably the foremost, and most widely accepted, is from the  Report of the Brundtland Commission : Towards Sustainable Development , which states: “Sustainable development is not a fixed state of harmony, but rather a process of change in which the exploitation of resources, the direction of investments, the orientation of technological development, and institutional change are made consistent with future as well as present needs .” Public recognition of the importance of sustainability and sustainable development is changing business culture and society. Two critical global challenges include dealing with national accounting systems that do not comprehensively reflect this progress, and ensuring that organizations embrace their performance on three levels: Economic: goes beyond financial performance to reflect an organization’s wider impact on the econom...

  What Do We Mean By Performance & Financial Management? Performance & financial management covers the management, process, and behavioral aspects of strategy execution, and managing and monitoring performance. This is important to professional accountants, both as employees or advisers, since many of them are focused on helping their organizations deliver on objectives, goals and targets, and strategies using a range of approaches, tools, and techniques. Performance & financial management involves the deployment of various tools, techniques, and systems to help an organization implement its strategies and plans, and support the achievement of organizational objectives. Successfully executing strategy involves various disciplines, areas of capability, including planning and forecasting, funding and resource allocation, revenue and cost management, managing performance against objectives, and improving operational management and utilization of assets. Performance...

  When law firms are hiring specialists focusing on human rights as advisors to business, business at large must take note. Over the last few months, at a range of events, I have heard first hand from such new professional legal associates of the importance of horizon scanning and the how the landscape is changing in regard to corporate responsibility. Human rights and business is an emerging area that is set to accelerate and, as no any business can rest assured without further investigation that their full supply chain is “clean”, assessing and addressing potential risk in this area is clearly also a role for the professional accountant . In recent years, the operating environment for business has changed irreversibly. Companies will be increasingly called to account to show what they have done to prevent disasters like the 2013 Rana Plaza garment factory collapse in Bangladesh that cost over a thousand lives. It is not only the clothing industry that is affected by human rig...

  What Do We Mean by Ethics? Ethics covers moral principles and norms by which human actions may be judged. Business ethics is about managing ethics in an organizational context and involves applying principles and standards that guide behavior in business conduct. Business ethics applies to all aspects of business practices—from how organizations develop, produce, and deliver products and services, to interactions with customers, suppliers, employees, and society. It encompasses human rights; labor and employment practices, such as training, diversity, gender equality, and employee health and well-being; and bribery and corruption. Some organizations also use the term to cover environmental sustainability issues, such as climate change and resource efficiency. Practice ethics concerns the professional ethics that arise in the context of an accounting firm rendering professional services, encompassing assurance through to advisory, and to clients. Why Is Ethics Importan...