WHY summitFINANCE 4 NON-FINANCE PROFESSIONALS (summitF4NFPs) TOOLKIT TRAINING? Can you tell the difference between an income statement and a balance sheet? Do you understand why a business that’s profitable can still go belly up? Has the grasp of your company’s numbers helped or hurt your career? Do you understand your role in the financial performance of your business? If questions like these make you sweat or worry, this training is for you. Based on Harvard Business Review’s Exclusive Training Materials, you will get the tools and gain confidence you need to master finance basics, as all good professionals must. summitF4NFPs…
Business Continuity Plan/Disaster Recovery (Iso 22301) Implementation
In May 2014, the Chief Executive of one of the manufacturing Companies received a call that the factory was on fire. By the time Uganda Police Fire Brigade responded, the critical parts of the machinery were all lost in the inferno, with an estimated loss of US$ 1m. Despite having Insurance coverage, it took over five months to setup everything and resume normal operations. In the meantime, the factory lost business, order fulfillment and key partners. Business continuity plan would have helped reduce the recovery time to minimize costs and losses. In line with this, Summit Consulting Limited cordially invites…
Role of the Board in IFRS 9 implementation part 1
The board provides insights that the management may lack. For this reason, experienced and exposed people sit on board. Boards are helped by committees which have technical skills and expertise in the subject matter. For IFRS 9, the audit committee of the board plays a critical role in IFRS 9 compliance. The board and its committees must provide guidance to management especially the executive team to help navigate rough waters, identify and optimize opportunities, provide timely and reliable financial information to shareholders. Compliance is one of the key roles of the board. By now, many, if not all companies that…
A simple guide to shape company culture
A company without a culture is like a team with members who are strange to one another. You want to achieve the same goal, but you don’t know the skills and competence of your colleagues. The end result is playing hard and not passing the ball. Corporate culture is shaped by these things; Values Consistent practice of the values And behaviours of people As a leader, your role is to define the values that act as a bond among teams. What are those 3-5 desired qualities (values) that guide your way of life in running the business? Your chosen values…
Your company needs a strategic plan
It is common for some entrepreneurs and directors to say “my company is small. We don’t have a lot of money. Isn’t strategic planning for bigger companies?” A strategic plan is like balanced diet to the human body. Both the young and the old need it. The baby may grow, but chances of being sickly are very high. If you have ever attempted to drive at night, you must put on driving lights. Otherwise, you will not go far. It is like driving while it is raining, if your car windshield wipers are inactive, you will lose visibility and stop.…
How to speak to influence and win deals
At 9:00am sharp, I was signaled by a smartly dressed lady in a blue dress, in her mid-30s to enter. I later learnt she is the Strategy& Innovations Manager at my prospective client, a Tier II financial institution. It was my turn to make a presentation of our strategic planning approach to the bank’s top management team. Standing in front of a full 15-seater boardroom can be worrying sometimes. With experience, I have now improvised to always take three deep breaths silently; and hope for the best and look people in the eyes. Jane, the smartly dressed leady that had…