To Issue Accurate Financial Statements, You Need a Close Process
Financial statements provide useful financial information about the reporting entity to existing and potential investors, lenders, and other creditors for decision making. As a financial statement captures the financial effect of all activities carried out in the business, the accountant must coordinate with different parts…
Navigating Withholding Tax Audits
SCG Chartered Accountants recently held a webinar titled “Navigating Withholding Tax Audits”. The presenters discussed: Common issues that arise from Withholding Tax Audits. Challenges faced by taxpayers Ways to stay compliant. Below is a summary of the discussion. Common Issues Failure to withhold from payments…
Excel or Accounting Software, Which Accounting Tool Should I Use?
There are two groups where this question rages: start-ups and businesses which do not invest in the tools their accountants need. Start-ups At start-up, the priority of the business is to find clients and generate the cash they need to invest and grow the business….
Are Ghanaian Businesses Making The Most Of Their Accounting Software Investments? Part-2
We are discussing common issue we find, as we apply data analytics tools to our audits, that suggest that Ghanaian businesses are not getting good returns from their investments in an accounting software. In part 1, we discussed observation on systems configuration. In this article…
Are Ghanaian Businesses Making The Most Of Their Accounting System Investments? (Part One)
We suspect that Ghanaian companies are probably not getting optimal returns from their accounting systems investment. The findings of our data team confirm our suspicions. In 2019, we made data analysis an essential part of our audit process, re-engineered our audit process and deployed data…
What Can a Good Accountant Do for Your Small Business?
Many business owners do not know what an accountant can for their business, so end up not getting the most from their accountant. There are bad accountants, but a good one will help you run your business with clarity and confidence. If your accountant is…
Cloud Computing for Small Businesses
During the lockdown, businesses could not work because they did not have tech tools suitable for working offsite. The experience drove home a reality of today; without computerizing your business, you cannot compete. Many businesses plan to install tech tools so their staff can work…
Ghanian Accountants, Our SMEs Need You to up Your Game
GHANAIAN ACCOUNTANTS, OUR SMES NEED YOU TO UP YOUR GAME “It is important to get an insight into business in times like these to make the right decisions” – Abdul Kalmoni, CEO of PC Trucks. PC Trucks use XERO, a cloud accounting software. Mr. Kalmoni…
Implementing Accounting Software Without Expert Help
Businesses use financial data to judge how they are doing and decide what to do. But accounting is a chore. So, it is no surprise that more small businesses are using accounting software. We notice that they are implementing the software without expert help. The…
What Beliefs Underpin Your Entrepreneurial Journey? These are mine
In the next 10 years, I and most of my partners will retire from SCG Chartered Accountants. To prepare for that, we’ve started working on succession. A lot of the work revolves around improving our HR process, identifying and placing people on the path to…
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