Business – activity, the result of which is effectiveness and efficiency.
Effectiveness – achieving goals in the external environment, obtaining market, financial, social results. It is expressed in revenue, income, satisfaction of needs, material benefit and moral benefit.
Efficiency – profit, capital growth, increase in net cash flow.
Efficiency is achieved in the external environment in the direction of factors: consumer – product – market (PTR), relying on the capabilities of the internal environment.
The capabilities of the internal environment are determined by three key factors (PRT): Continue reading
The concept of integrated reporting has recently occupied the first pages of professional publications in the world of accounting. The global financial crisis has revealed the need for a new economic model that could protect business, investors, employees and society from a series of subsequent deeper crises.
Currently, for the purposes of many companies, short-term benefits often prevail over the long-term goals of improving society’s life, by launching mechanisms that are more risk-aggressive in business behavior and decision-making models. This cannot but lead to market instability of a scale that threatens entire industries and economies. One aspect of criticism of this corporate reporting model is that it does not currently pay enough attention to factors such as risk, strategy, oversight, and the sustainability of an enterprise’s business model. Continue reading
Almost everyone in his personal life and business spends time, energy and money on things that are indirectly related to our happiness and values for others. Learn to attach importance to those few people and events that give meaning to life and provide maximum income.
What do language, cinema and the Internet have in common? Perhaps a lot, but one key similarity is that all of these are pronounced examples of the exceptionally useful law of force, which always indicates where more can be obtained for less.
In 2004, two Xerox researchers found that most of the traffic on the World Wide Web was controlled by a small percentage of sites: 119 sites — less than one-tenth of 1 percent — accounted for 32 percent of all visits. 5 percent of the sites selected for the study 6000 accounted for 75 percent of visits. Continue reading
In the past few years, more and more financial directors have been thinking about the issue of transferring management accounting and reporting of their enterprise to IFRS or at least the maximum approximation (if not complete convergence) of management and financial accounting.
How appropriate is this synchronization for the company?
With financial accounting, everything is more or less clear – it is generally accepted that it is a process of collecting, processing, aggregating, classifying and transmitting information about the financial situation of an enterprise and its results for a certain reporting period to external users in order to make economic decisions. Continue reading
A person always draws a psychological portrait of someone with whom he is involved in communication. This portrait is created from a wealth of data. A voice can tell a lot about a person. Sometimes it’s not so important what they say is much more important – how. According to P. Ekman, a leading specialist in lie recognition, words are one of the least reliable sources of information.
By the voice of the interlocutor, you can understand how he treats you, whether he is sincere, what his emotional state is. Communicating with a person, we can draw conclusions about his personal qualities and characteristics. You can even imagine the physical image of a stranger. Each of us does this every day and in different situations: at work, at home, in public places … Continue reading