Category Archives: General

Building A Career Is Like Building A Skyscraper

Looking back on my 38 years as an accountant, the years I’ve spent building my career is a little like building a skyscraper. Today, I am the result of choices, experiences, and the trials of life. I – and my career – didn’t just happen. Why a Skyscraper? Think of what goes into building a […]

Online banking saves you money! Use it!

Are you worried about using online banking in your business? Not sure if it’s safe? Like you, we had concerns. We hesitated in using online banking tools, even though they’ve improved considerably over the years and are available across Ghana. Instead, we persisted with “traditional banking”. And by that, we mean: Writing and receiving cheques. […]

7 Simple Steps To Improve Control Over Petty Cash

Petty cash, also known as petty cash fund, is a small amount of cash on hand that is used for paying small, everyday business expenses. Examples of petty cash use includes payment for postage, phone cards, and reimbursing travel expenses. The amount in a petty cash fund will vary by organization – how much is […]

Written Employment Contracts Are There To Protect You. Use Them!

When you hire a new employee, it is good business practice to offer them a contract. A contract of employment can be verbal, or it can be written. Where most small businesses run into trouble is in their reliance on verbal agreements, opting not to use written employment contracts. This is problematic because verbal agreements […]

Move with the times, or face losing your business

I work in Ridge Tower, in the financial district of Accra, Ghana. Ridge Tower is a high-rise building housing a bank, a leading property management company and some departments of the Social Security and National Insurance Trust. Around my office, you will find more high-rise buildings housing more banks, insurance companies, and other major enterprises. […]

A Quick Guide to Employer & Employee Pension Obligations

Avoid penalties for non-compliance and safeguard your business by learning what you need to do under the National Pensions Act 2008. The Ghana Pensions Act 766 places obligations on both the employer and the employee of a business, however, the burden of compliance rests with the employer. The employee typically has no option of opting […]

How to Identify and Avoid Phishing Scams

Stop your email account and passwords from being hijacked by a total stranger Chances are this has happened to you or someone you know before: You receive a strange email from a family member, friend, or colleague, and you realize that their email account has been compromised. Millions of people every year have their email […]

Do you know which business records to keep, and why?

Maintaining good records is essential for every business. And keeping those records is a legal requirement that, depending on your jurisdiction, you will be obliged to do for a specified period of time. But you shouldn’t just maintain records to meet legal requirements. Having accurate records can also help you do the following: ✓ Prepare […]

Our Journey to A from B, and Beyond

Each year, the Institute of Chartered Accountants Ghana (ICAG) classifies and ranks public accounting firms across the country into six categories: A1, A, B1, B, C, and D, with A1 being the highest classification available. In doing so, ICAG considers revenue, number of partners, and number of staff. The classification system is therefore an important […]