Member Since: 3rd Oct 1998
Cheif Financial Officer Optix Pakistan (Private) Limited
7th Sep 2018
Aren't there minimum wages laws in USA?
As to tax, it is governments' job to keep tax laws updated and effective. There could be minimum tax based on turnover.
Capitalism without control will destroy itself and everything else.
3rd Jul 2018
Yes, "it's competence on the job", subject to competency of your boss :)
3rd Jul 2018
I have seen "users" using Spreadsheets for typing letters (in those early days). We have to ensure certain practices (not standards) so that error risks are minimized, if the file is handed over to another user, they can work without bothering the "author" too much. It is not only effectiveness but also efficiency, well accountants are always cost conscious :)
Even on those lovely columnar paper sheets the user had to write obeying those columns, not between columns or whatever way they liked.
We keep Revenue on the top and then costs / expenses in certain order, what is harm if I keep Revenue at the bottom (In some situation we like this but generally not).
1st Jul 2018
There should be "practical" exam as part of qualification. ICAP (Pakistani Institute) conducts practical exam covering IT, spreadsheets are part of it, not covering in-depth but giving a foothold.
When I started in profession there were only main frames and minis with a few clients. Desktops (PCs) were available in west but very rare in Pakistan.
I focused on technology, have good knowledge of both arena, but was labelled by fellow professional as techie and not accepted in the group and tech professional did nor accept as I had no academic back ground and was "over age', so my career in wilderness.
9th Mar 2018
The article is focusing in wrong direction.
EBITDA is not a measure to gauge Profitability, it is measure for ability to repay interest / loans and used by creditors. EBITDA is close to liquidity if working capital composition remain "same", funds that would be available to repay loans and capex.
As to valuation of a business EBITDA multiple is simply foolish. The measure should be DCF of future cash. EBITDA is not designed for Profitability nor Valuation, so it is not EBITDA's fault but of people using wrong tool.
As to the real costs not only Depreciation but also Interest and Taxes are real, does any one doubts tax are real.
5th Feb 2018
Two more benefits of Accountants learning to code:
When coordinating with Systems design & development teams you have the common language with them benefiting the project a lot and structured thinking that comes with coding experience. Those who code even a little have very good Excel sheets when using it.
17th Feb 2017
Profits are food, cash is water (liquidity) and reputation is air (oxygen). One can live without profits for quite enough time, without cash will gets some time and without reputation business is not possible.
Most of the time finance professionals get too much exhausted just producing numbers / reports and do not have energy left to analyze the reports, story behind the numbers. People who consume the reports at times do not have requisite “financial” expertise or are unwilling to spend time required to understand the truth or are “cutoff from shop floor, living in ivory tower” or worse, have preconceived ideas and do not trust numbers and number crunchers (alas bean counters).
Good article Mr. Tom Herbert.
7th Jul 2016
On receive update, I had selected Weekly but my mailbox is flooded with each reply, tried to reset many times but to no avail.
24th Jun 2016
This is bad day for UK, EU and even for world. EU should be moving towards USE (United States of Europe), instead it is back to fragmentation. This is from the part of world where weak states and intense rivalry among neighboring states is keeping countries underdeveloped. Brexit is myopic, bad for economy bad for political system. Though Accountants may have more work but is better to do improvement work “fixing” work.
1st Dec 2015
Match as third argument in Vlookup
@PureAccountAnt, COLUMN() is good idea, however I use MATCH() as third argument, it is more robust in the sense that it matches column header in the source range.