Author: Mohit Gupta

Notification – IFRS

Dear Readers, We had a separate section on IFRS, however we have decided to close the same, since our author moved to another city and was not able to give updates for the same. We have uploaded all posts to the IFRS section on the FAO Blog itself. You can access it from the link below: http://faoblog.com/category/ifrs/ We would also like to invite people to contribute to the IFRS section. Regards,  ...

Read More

Final accounts – an understanding – Key statements

Final accounts – an understanding – Key statements In the last upload to the Learning & Development group, I had shared a sample of a vertical format of a Profit & Loss Account. http://faoblog.com/final-accounts-understanding-key-statements-3/ In India, we normally use the “T” form. See the image below.   Now, in our working quite often, we would have seen that the profit & loss account or the income & expenditure statement is not the only statement prepared for ascertaining the status of the current period operations. Those of you, who are or have been accounting students, will surely know of Trading Account...

Read More

Effective Communication

Effective Communication Happy Independence day to all our American readers. I have been itching to write this post for quite some time. This is about effective communication, building trust, credibility and a reliability around what to do to respond to various forms of communication. For the last few months, I witnessed a lack of, or rather a major complacency on communications. While working in various finance back office units and international clients, I learnt, to quite an extent the hard way, how to effectively communicate. Language is not a barrier, bad English or grammar or even spellings are not really a...

Read More

Final accounts – an understanding – Key statements

  We introduced you to the three key statements of accounts in the  Learning & Development group, in the last post. http://faoblog.com/final-accounts-understanding-key-statements-2/ The three key statements we listed were : The Profit & Loss Account / Income & Expenditure statement The Balance Sheet The Cash Flow statement We briefly talked about the Profit & Loss / Income & Expenditure Statement, which represented the status of operations, the financial success or failure of what the business did over a defined period of time. A standard vertical format for this statement will comprise of: Net Revenue/Sales Less: Cost of Sales Gross...

Read More

Final accounts – an understanding – Key statements

Final accounts – an understanding – Key statements We introduced you to the three key statements of accounts in the  Learning & Development group, in the last post. http://faoblog.com/final-accounts-understanding-key-statements/ The three key statements are : The Profit & Loss Account / Income & Expenditure statement The Balance Sheet The Cash Flow statement Let us look at each one of them.. The Profit & Loss Account / Income & Expenditure statement: This statement is an Income Statement summarizes the results of a firm’s operations for a period of time. It communicates how much revenue the company generated during a period...

Read More

Final accounts – an understanding – Key statements

Final accounts – an understanding – Key statements In the upload, as shared earlier in the  Learning & Development group, we saw how and why accounting developed. http://faoblog.com/final-accounts-understanding-developed/ What are the key statements used in final accounts? The answer to these questions lie in the quest of what do we really want to achieve from final accounts. The first and foremost thing we would like to know that over the period of one year or a predefined period, what was the result of our operations, what did we earn, what did we spend, whether we were in profit, which...

Read More

Final accounts – an understanding – How it developed

Final accounts – an understanding – How it developed In the last upload, as shared in the  Learning & Development group, we read about the need for you as an individual to understand final accounts. http://faoblog.com/final-accounts-understanding-7/ Another question is, why and how this developed over years. Accounting has existed from times immemorial. Some form of accounting existed, primarily in form of accounting for receipts and payments recording, even in ancient India, from the times we see records in our books of history. The even say the “Zero” was invented / conceptualized in ancient India. The modern day accounts are...

Read More

Case Study: Improving Recruitment Processes

I had earlier shared Part 1 of a case study on improving the recruitment process published by the iSixsigma network. http://faoblog.com/case-study-improving-recruitment-processes/ Here is part 2: Case Study: Improving Recruitment Processes – Part 2 of 2 In this case study, a team strives to improve the recruiting process in a large, fast-moving consumer goods company. Part 2 focuses on decreasing the effort required to fill a job opening. The case described here uses total quality management (TQM) to address the problem of rising attrition in a large, fast-moving consumer goods company in India. Specifically, the HR team sought to reduce the time...

Read More

Mid-size analyst upstarts are creating value faster

Mid-size analyst upstarts are creating value faster. The analyst world is changing for the BPOs. One of the surprises in the 2013 Analyst Value Survey was the rapid improvement by a number of mid-sized analyst firms. The Influencer Relations website recently feature a connect of mine Phil Fersht What the study has shown is not just that mid-sized firms are able to compete with the largest firms on value, but they can also grow very quickly. Firms like HfS Research, Constellation and GigaOm have built their brands very quickly, in just a few years, and are now more visible...

Read More

Final accounts – an understanding – The need

Final accounts – an understanding – The need In the last upload, as shared in the  Learning & Development group, I had shared the importance of basic concepts of financial / final accounts. http://faoblog.com/final-accounts-understanding-importance-basic-concepts/ What is really the need for you to understand final accounts and their implications? Money makes the world go round – it’s an old saying, and so very true. Our personal and professional lives revolve around money and finance. One of the biggest obstacles that hinder the growth of managers today is their inability to judge the financial strength of their strategic inputs. This handicap...

Read More

Successful Entrepreneurs Do These 5 Things Daily

Successful Entrepreneurs Do These 5 Things Daily We saw this article on the Entrepreneur website. Great read. There is a saying that there are only three types of people in the world: those who watch what happened, those who wonder what happened and those who make things happen. Entrepreneurs fall into the last category, of course. They are change agents, people who don’t see the world as it is but as it could be. Entrepreneurs don’t sit on the sidelines and wish for a better world. Rather they go out and create it. They don’t wait for things to be...

Read More

Case Study: Improving Recruitment Processes

Case Study: Improving Recruitment Processes  iSixsigma network recently published a case study on the above topic, which we found interesting and worth sharing. Here it is: In this case study, a team strives to improve the recruiting process in a large, fast-moving consumer goods company. Part 1 focuses on reducing the recruiting cycle time. Part 2, which will be published Monday, June 6, 2014, will focus on decreasing the effort required to fill a job opening. Rising attrition is a common problem across industries. Tight monthly, quarterly and annual objectives leave little room for error when it comes to having...

Read More

Final accounts – an understanding – Importance of basic concepts

Final accounts – an understanding – Importance of basic concepts In the last two uploads, as shared in the  Learning & Development group, I had shared the basic concepts of financial accounting. A question arises – Why are these important? http://faoblog.com/final-accounts-understanding-5/ http://faoblog.com/final-accounts-understanding-6/ The basic concepts are derived from the basic principles of accounting. These indicate a normal working of the business entity. By this virtue, the normal rules of functioning will apply. The moment any business entity goes into an abnormal state, like incurring major losses, or a sudden windfall, the rules of operation will change. Big businesses invite...

Read More

Why HR should be the strongest team in any organization

Why HR should be the strongest team in any organization We had shared an article on our blog http://faoblog.com/leaders-wrong/ in the group We had an overwhelming response on the same. We shared the following responses: http://faoblog.com/hr-strongest-team-organization/ http://faoblog.com/hr-strongest-team-organization-2/ http://faoblog.com/hr-strongest-team-organization-3/  http://faoblog.com/hr-strongest-team-organization-4/ http://faoblog.com/hr-strongest-team-organization-5/ We continue on the responses: OMG! This article… no wonder even the writer mentioned ‘pipe dreaming’ at a point. I have never seen a good hr department. I assume two factors play a pivotal role in this sad development: o   Sorry to seem sexist, but the main problem with hr is the immensely unhealthy gender balance. Although I respect...

Read More

Why HR should be the strongest team in any organization

Why HR should be the strongest team in any organization  We had shared an article on our blog http://faoblog.com/leaders-wrong/ in the group We had an overwhelming response on the same. We shared the following responses: http://faoblog.com/hr-strongest-team-organization/ http://faoblog.com/hr-strongest-team-organization-2/ http://faoblog.com/hr-strongest-team-organization-3/  http://faoblog.com/hr-strongest-team-organization-4/ We continue on the responses: When these types of questions are asked I can’t help but think of the joke about the war in the body where the parts were arguing about who was the most important and had the most power. Everybody knows that the part of the body that controls the release of waste wins the argument. Let’s...

Read More

Why HR should be the strongest team in any organization

Why HR should be the strongest team in any organization We had shared an article on our blog http://faoblog.com/leaders-wrong/ in the group Top Talent Community: CXO CEO COO CFO CIO CSO CTO CPO President VP MD GM Director Head Jobs and more Link to the discussion We had an overwhelming response on the same. We shared the following responses: http://faoblog.com/hr-strongest-team-organization/ http://faoblog.com/hr-strongest-team-organization-2/ http://faoblog.com/hr-strongest-team-organization-3/ We continue on the responses: In Psychological Aspect. If we assume a Organization as a family than, the Top Management is Paternal affection and the HR will be the Maternal affection. By Dr Ayaz Khan HR is...

Read More

Final accounts – an understanding

Final accounts – an understanding In the previous post, as shared in the  Learning & Development group, I had shared five basic concepts on which financial statements / accounting is based on. Check this: http://faoblog.com/final-accounts-understanding-5/ Today, I cover more fundamental principles which apply to all entities in the perspective of financial accounting. Periodicity – The economic life of a business can be divided into  artificial time periods, preferably one year. The benefit of a transaction should be bound by reasonable periods, so as to distinguish between long-term and short-term business results, commonly known in the accounting world  as the...

Read More

A DMADV Approach to Marketing and Advertising

The iSixSigma Network recently shared a case study on a DMADV Approach to Marketing and Advertising. Here is the study: The Corporation of the City of Kawartha Lakes (the City), Ontario, Canada, is a single-tier municipality that covers a land area of 3,067 square kilometers and includes more than 250 lakes. In addition to approximately 73,000 permanent residents there is a large seasonal population of approximately 31,000 residents each summer. More than 77 percent of residents live in rural communities. Effective marketing and advertising campaigns are important to the City’s economy – the City is a vacation destination and relies heavily on the...

Read More

Why HR should be the strongest team in any organization

Why HR should be the strongest team in any organization We had shared an article on our blog http://faoblog.com/leaders-wrong/ in the group Top Talent Community: CXO CEO COO CFO CIO CSO CTO CPO President VP MD GM Director Head Jobs and more Link to the discussion We had an overwhelming response on the same. We shared the following responses: http://faoblog.com/hr-strongest-team-organization/ http://faoblog.com/hr-strongest-team-organization-2/ We continue on the responses: Surprising epitaphs being used here for HR. Although HR is a necessary spoke in the wheel – but that is all there is. It remains a cost center. It impacts the performance of...

Read More

Why HR should be the strongest team in any organization

Why HR should be the strongest team in any organization We had shared an article on our blog http://faoblog.com/leaders-wrong/ in the group Top Talent Community: CXO CEO COO CFO CIO CSO CTO CPO President VP MD GM Director Head Jobs and more Link to the discussion We had an overwhelming response on the same. Yesterday we shared the following responses: http://faoblog.com/hr-strongest-team-organization/ We continue on the responses:   My brief views..After 26 yrs IT experience in Defense, Reliance & Tatas, I agree with all the above that HR is the backbone to the company. Most companies avoid the risk and...

Read More

Subscribe via Email

Enter your email address to subscribe
to this blog

Pin It on Pinterest