Blockchain Accounting: An Answer to Financial Fraud?

Many have touted the arrival of blockchain technology as the next frontier in business operations, a pioneering breakthrough that possesses the potential to transform conventional procedures across industries. Often associated primarily with cryptocurrencies like Bitcoin, the application of blockchain goes far beyond this investment phenomenon. To understand blockchain technology's potential impact, we must first examine the fundamentals of this groundbreaking approach.  At its core, blockchain is a decentralized system where all transactions or digital events get consolidated into 'blocks' and distributed across a network of computers, referred to as 'nodes'. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. The unique attribute of this system is its ability for self-audit - a quality that ascertains data integrity and provides unparalleled…

Mastering Entrepreneurship: Your Ultimate Guide to Starting Strong

Now, who pops into your head when we utter the word 'entrepreneur'? Does your mind race through names like Steve Jobs, Jeff Bezos, Elon Musk, or Mark Zuckerberg?  These are the experts who didn't just pique the world's interest, they reinvented the whole playbook of business. Indeed, they've reshaped entire industries and won us over with their ingenuity, giving us a fresh perspective on how we live, work, and connect. Let's ponder on this: How would you define an entrepreneur? Venturing into the thrilling world of business, entrepreneurs are often a sight to behold. Some believe this intriguing breed is born, crafted with an inherent drive that continues to burn brightly. Yet, there’s a different school of thought that credits the…

Business Innovation With Disruptive Technologies: A Comprehensive Guide

If you've ever wondered how technologies can significantly disrupt existing business models, you're in the right place! In our constantly evolving world, businesses need to stay updated and innovative. The beauty of disruption lies not in the turbulence it creates, but in the novel opportunities it provides for businesses to grow and prosper. This article aims to examine disruptive technologies and their role in fostering business innovation. Before we dive deep, let’s start with an overview of the concept of disruptive technology. "Disruptive Technology", a term coined by Harvard Business School professor Clayton M. Christensen in the late 1990s, refers to an innovation that significantly alters the way that consumers, industries, or businesses operate. These technologies introduce significant upheaval, but they…

How Accounting Opened Doors to a Remarkable Stockbroker Career

Although he started his career as an accountant, Mr Loh Hoon Sun could never have foreseen that it would lead him into the dynamic world of stockbroking, where he would spend nearly 33 years with his current company. This reality unfolds for the Senior Advisor (formerly Managing Director) of Phillip Securities, a renowned financial institution spanning 15 countries worldwide. The 85-year-old finance expert, born in Fujian, China, shared some insights on how the path of accounting can unlock incredible opportunities and diverse career experiences. His remarkable journey serves as a testament to the boundless prospects that the field of accounting can offer. Humble Beginnings Even though Mr Loh was born in Fujian, he moved to Penang, Malaysia at the age…

Ethical Business Practices: A Growing Concern for Consumers

There has been a significant shift in the approach businesses take to their operations. No longer is profit the sole driving factor in the corporate world; instead, an increasing emphasis is being placed on ethical business practices. From 'fair trade' to 'sustainable sourcing', there's a growing trend amongst businesses to make ethical decisions - not only because it's the "right thing to do", but because consumers are demanding it.  Being Good is Good Business. - Anita Roddick (Founder of The Body Shop) But what exactly do we mean when we talk about ethical business practices, and how are they affecting consumer response?  Ethical business practices: Typically includes practices that promote transparency, ensure worker rights, take care of environmental considerations, and…

Unlock Profit Potential with a Transfer Pricing Specialist

Transfer pricing is like a game of chess, where every move has a financial impact. It's not just about strategy, but also about protecting your kingdom. - John Smith If you do not have the slightest clue on Transfer Pricing... You might be driving your business in a really bad direction. The next time you're at a gathering, and someone mentions 'Transfer Pricing', you might initially think it's just accountant jargon. However, despite its possible lack of humour, its importance in business profitability and your overall earnings can't be undermined. What is Transfer Pricing? Now, imagine trying to communicate a fair price for goods or services within a multinational company, where each part plays at being a separate entity. This…

Leesa Soulodre: A Trailblazer in Venture Capital and the Pioneer of Planet43

Leesa Soulodre possesses a diverse background in deeptech leadership, innovation, entrepreneurship, and risk management. "My approach has always been to take unconventional paths and question established norms - and to take the road less traveled - so it's no wonder I ended up in venture capital. - Leesa Soulodre Originally from Australia, Leesa Soulodre's entrepreneurial journey has taken her around the world. Here are some of her career highlights: Advising over 400 companies across 19 sectors in Europe, Asia, and America. She is a sought-after speaker on global stages due to her expertise in digital transformation, masters and robots, reputation risk management, and innovation strategy. Playing a role in 3 tech exits across cybersecurity, financial services, and telecommunications and accelerating…

Taking on the Gen Z Challenge

Let’s face it – Companies these days are waking up to a whole new workforce reality. It feels like we have only just settled into adapting to the presence of millennials, and now we find ourselves needing to brace for the impact of Generation Z. Welcome to the era of Gen Z, the "True Gen," "iGen," or simply the "zoomers" (born from 1997 to 2012), who are now striding into the workplace like a breath of fresh air. And let's set the record straight – they're definitely not here to be labeled as delicate strawberries. Remember when some of those more experienced folks rolled their eyes at Gen Z? They called them "entitled", "lazy", and heaven forbid, "softies who can't…

Why Accounting Matters for Your Startup

Ever heard the phrase, 'Accounting is the language of business'? Well, that nugget of wisdom originates from none other than business magnate, Warren Buffett. Consider this: accounting is like a puzzle within the business realm. But Buffett's thoughts in 2014 went beyond this simple comparison. He drew a parallel between accounting and learning a foreign language – and he was serious. Just as deciphering a foreign language as a native English speaker, diving into accounting terms can be like wading through a dictionary with no end in mind. Fixed assets, retained earnings, accounts receivable – they might as well be coded messages! But don't worry; you don't need to become an accounting expert overnight to do business. One key takeaway…

Unlock Profit Potential with a Transfer Pricing Specialist

Transfer pricing is like a game of chess, where every move has a financial impact. It's not just about strategy, but also about protecting your kingdom. - John Smith If you do not have the slightest clue on Transfer Pricing... You might be driving your business in a really bad direction. The next time you're at a gathering, and someone mentions 'Transfer Pricing', you might initially think it's just accountant jargon. However, despite its possible lack of humour, its importance in business profitability and your overall earnings can't be undermined. What is Transfer Pricing? Now, imagine trying to communicate a fair price for goods or services within a multinational company, where each part plays at being a separate entity. This…

9 Lessons That Charlie Munger Wanted You to Know

Charles Munger, who stood as a remarkable pillar in Berkshire Hathaway's development for nearly six decades alongside Warren Buffett, passed away at 99 on 28 November 2023. Munger was fundamental in the transformation of Berkshire Hathaway from a struggling textile production company into a global powerhouse.  His passing occurred in a California hospital on Tuesday, as reported by the firm. Known for his long-standing residency in Los Angeles, Munger's vast contributions have not gone unnoticed. "Without Charlie's invaluable inspiration, wisdom, and involvement, Berkshire Hathaway wouldn't be where it is today," Buffett articulated in the statement. Born in Omaha, Nebraska in 1924, Munger was more than just the business partner and right-hand man of Warren Buffett. He was a man of versatile…

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