This case study explores the role of forensic accounting in fraud detection and the need for internal auditors to adopt a forensic investigation approach. Learn the importance of standing on your foot as an accountant by insisting that your superiors put all their requests or instructions for money in writing. The golden rule is simple — don’t give away cash unless it is receipted or signed for. NB: All names and dates are not real for client confidentiality. When I was in prison, visiting, an inmate came right after my presentation and said: “Sir, I really appreciate your talk on…
The SMART entrepreneur has a right Mindset
Why do you think many businesses are struggling to pay rent and operating costs? The answer is poor mindset. As a business owner, your mindset determines your altitude. Having the mindset is critical. What motivates you? Where will you play, how will you play and what kind of business will you not play in? What are your personal values? Get rich quick mindset is good, but may not give you happiness. Your mindset should be prepared for the long-haul. This is not a one day thing. Try to bear short term obstacles. Focus on making your customers and business partners…
The SMART entrepreneur – Sets a vision
Previously, we discussed about starting a business. Today, we explore the qualities of an entrepreneur. Once you have a business idea, you need to set a Vision. Instead of asking: “where do I want to be?” like everyone else; Ask: what is my biggest problem NOW? Is it lack of money or lack of customers or declining business? Then decide on how you will fix the problem either through low costs or differentiation – depending on your business environment. Decide on possibilities available under each option. Then explore the conditions which would have to be true for you to succeed…
How and where to start a business?
Why are there so many people jobless? The answer… They don’t know where and how to start a business. And those who have an idea are hunting for capital! You could join an entrepreneur or become one. Avoid jobs which make you relax too much in which case you don’t grow in terms of exposure and business acumen. Start by asking: what is the biggest problem in my community? How can I solve this problem cheaply for people? Which people would be happy with the solution? Are they willing to spend some money to someone who fixes it? Who else…
What does success mean to you?
We all want to be successful. Most people define success in terms of accumulating a lot of money and having a tall building in the middle of the city. But is that true success? Success is being financially independent, with good health and social respect. Financial independence is having enough to meet the basics of life and remain happy. If you can enjoy basic holiday and leisure as well as fix dependents that is great enough. As you make money, you must avoid lifestyles that expose you to health risks. In Uganda just like elsewhere, the cost of quality health…
Tool #32 of 104 is to change one step at a time
Luke 9:28. Jesus took with him Peter and John and James and went up the mountain to pray. As he prayed, the aspect of his face was changed and his clothing became brilliant as lightning. If you have attended couples’ forums, you understand the state of families today. Everything starts well until the wedding is complete. It has become so bad that some newly wedded couples divorce just after the honeymoon is over. At one of the marriage couples’ forum I am happy to have facilitated, each of the partners was asked to write three things they would love their…
