The birth and the introduction of technology has brought a new face on how accounting traditionally was processed. Where transactions were manually recorded in columnar papers and kept in a huge folders. Once computers became popular with its accompany affordable software, accounting tasks change from the traditional method into this medium, where concepts stayed the same but mechanics changed from…
We are in a fast changing technological age which brings with it a huge leverage for countries and businesses ready to use it. I shared my thoughts on how technology can be used to accelerate efforts towards achieving the Sustainable Development Goals (SDGs), especially within continental Africa. Read it below: With 200 million people aged between 15 and 24, Africa…
For any small business that aims to grow and be successful, systematically and comprehensively recording financial transactions must be paramount. Raising and issuing out invoices, filling requisitions and payment vouchers, recording bills and filing receipts, filing tax returns and a well-run financial operation is crucial to success and can help preempt problems that may arise in the future. Typical of…
Why Profitability Is Key to Assessing Your Business Growth Every emerging organisation be it small, medium or large has certain inherent reasons for its conception. The nature and characteristics can further explain the type of business in question, as to whether or not the business is profit making, nonprofit or a charitable organisation. In this article our focus will be…
As a small business owner, you wear many hats – developing the product, handling distribution, doing sales and chasing customers for payments, closing fund raising with investors and on top of all these managing your finances and keeping your books. This can be very overwhelming and you may need to outsource certain functions to in-house staff or independent contractors out…
Capital Allowance: is a practice of allowing a company to get tax relief on tangible capital expenditure by allowing it to be expensed against it annual pretax income. They are treated as another business expense and so reduce your taxable profit within the basis period. It’s an expense, but because it is non-cash, it is often effectively a tax write-off.…
Compliance with withholding taxes like any other tax obligations is very crucial for any business. In doing so, you save yourself from the closure of operations, fines and penalties, imprisonment, tarnishing of your reputation, interference in business operations, among others. In this article, we provide a highlight of what withholding taxes are, how to compute them and when and how…
Our advisory board member, Amma Gyampo, was recently interviewed by Entrepreneur.com and we think it’s worth sharing with you: Amma Gyampo serves on Ghana’s National Taskforce for Impact Investing, she is an Angel Investor supporting women-led businesses and serves as Investor Relations Director for the Lady Angel Network. A business development advisor and entrepreneur with over 20 years of consulting…
Running the various facets of your businesses requires the usage of certain technology tools. These tools are mostly to introduce efficiency in the operations of the business, by way of cutting down time required to achieve a goal or driving down the cost elements involved. In a series of posts, starting from this very one, I will be writing about…