Here in Rwanda the deadline for submitting and paying taxes for most companies is 31 March. This year the 31st fell on a Sunday, so everyone was lucky enough to get an extra day to finalize their submissions. Most companies need to submit their audited financial statements along with their tax filings, which makes January …
We would like to extend a huge thank you to CloudBusiness LLC for their assistance and generosity during our launch of the African Accounting Academy. CloudBusiness is a company that develops cloud-based solutions for accounting software. Their products allow companies to import and export transactions quickly into accounting software such as Xero, QuickBooks and Sage …
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After a busy summer at FinanceYOU, we have a very exciting announcement to share. In mid-September, Pascal Ambrosino joined FinanceYOU as a co-founder, bringing with him a wealth of knowledge, insights and experience. Pascal hails from Toronto, Canada, where he received a Bachelor of Business Administration from the Schulich School of Business at York University. …
In a post earlier this year, we discussed the basics of fraud. In this post, we will look at some of the key internal control activities that can be implemented to effectively reduce the risk of fraud.
Fraud is defined by the Merriam-Webster dictionary as “intentional perversion of truth in order to induce another to part with something of value or to surrender a legal right”. More simply put, fraud is an act of deception, with the intention to achieve financial or personal gain.
Closing the books is what we accountants live for. For those non-accountants, it is the process where the accounts are checked for accuracy at the end of each period. Closing the books can refer to either the month-end or year-end close.
As an experienced accountant, who reads, reviews and audits financial statements on a daily basis, there are certain terms and concepts, which become embedded in your vocabulary. For everyone else, here are some of the key terms and assumptions that are used to prepare financial statements….
From my first-hand experience, the finance function within an organization is often viewed as a somewhat bothersome compliance exercise, as opposed to a critical tool an organization can utilize to…
After finishing my undergraduate degree at McGill University, I didn’t have a great idea of what I wanted to do from a career perspective. I had a great job offer to start at Ernst & Young in Toronto, which I knew would allow me to keep learning, as I simultaneously…
