Archive for: June, 2023

Fire Consultant – Advice on How and When to Use a Fire Safety Consultant

Jun 14 2023 Published by admin under Uncategorized

The increased burden of responsibility placed on employers by recent legislation can leave many business owners feeling either unsure about what they need to do to comply with all the laws, or else unable to find the time to carry out all the duties that are required of them. One example of these duties is the need to carry out regular fire risk assessments. Under the Regulatory Reform (Fire Safety) Order 2005, the responsibility for ensuring workplace fire safety was placed firmly on the shoulders of UK employers. 

This law abolished the previous use of fire certificates, which were issued by the fire authorities following applications and inspections of premises. The only involvement of the fire authorities now is to check that every business has carried out a fire risk assessment on their premises, which they can do by asking to see a copy of your findings. The assessment procedure has to identify any potential risks to people in the building, and outline the steps which have been taken to minimise these risks. Any business employing five or more people has to record their findings too, so that the authorities can inspect it as proof that the employer complying with the law.

The law requires that whoever carries out the fire risk assessment for a premises must be a competent person, but does not specify what exactly this means. For small and straightforward businesses, it is perfectly possible for someone in the business to carry out the fire risk assessment by following guidance which is freely available online. However, even in this relatively straightforward situation, it can be difficult to find the staff resource to actually give this work the time it needs.

In larger and more complex premises, a greater degree of knowledge and experience is required, so it becomes more difficult to judge whether someone can be deemed to be competent or not. Part of the problem is that people are understandably not even aware of the things they do not know about. For example, if you could not tell the difference between an ordinary door and a fire resistant one, or if you could not tell heat detectors and smoke detectors apart, you may struggle to undertake an adequate assessment.

It is in circumstances such as these that many businesses turn to fire consultants for help and advice. This can take the form of getting a consultant to undertake the fire risk assessment directly, or providing training to you or your staff so that you can carry out your assessments in-house. For many companies, fire consultants are used to deliver and administer their entire fire safety requirement. This can include the fire risk assessment, creation and implementation of an emergency plan, leading practice evacuations, staff training and even equipment maintenance. It really depends on the needs and resources of the business and the complexity of the premises involved.

The best fire consultants tend to be ex fire authority personnel, who have years of first hand knowledge and experience and know exactly what the fire authorities require of business premises. There are many such companies operating around the UK, and the best way of finding the most reliable ones is through personal recommendation.

Comments are off for this post

What Happens When Your Financial Consultant Quit?

Jun 13 2023 Published by admin under Uncategorized

This is worrying for some especially to those who had put his utmost trust in his consultant. To be honest, if you asked any consultant in the streets if he will stay in this industry for long, he will always say yes! Its like asking a restaurant owner whether his food is nice.

Well, lets be fair, nothing is guaranteed. Its the same as asking whether your the other half will love you forever. We are all human beings, there is also a chance that your consultant will be stricken down with illness and even death. Even if the consultant at that point of time is truly convicted to the loyalty of his financial company, that does not mean few years from then, things will not change. We will never know what the future hold for us, who knows maybe my business is so bad that I have to end up selling hot dogs instead.

As the wise says – The only constant is change. To quote the president of US: “Change, we will” and we always will, be it consciously or subconsciously. Thanks to this ever-growing economy, we find ourselves constantly adapting to the demands of this society (especially ours) and this process of adaptation often than not, entails change in us.

What happens when your financial consultant quit? Even for the most inevitable reasons, there is nothing to worry about. Really. First of all, the financial company will always still be there. What if the financial company bankrupts and close down? Think of this way, if an financial company was to fall one day, the rest of the other insurance companies or even the whole financial industry will fall because this is a collective economy. Remember, all financial companies are regulated by MAS, if MAS has no financial power to withstand a financial company to fall, MAS is most probably crippled already. If that happens, trust me, your insurance is the last thing you worry about :P

Just think of the each of the domino to be a financial company in Singapore and MAS is the platform where all these dominoes are standing on.

OK back to the topic, so what happens when your financial consultant quit? You know, there is nothing you can do. First of all, you don not even have to worry at all. As long as your financial company is still there, you are still insured, you still can claim, you can collect your money upon maturity, you still can collect your dividends, you still can collect your coupons, your policy is basically not affected at all. The only drawback is that if you need to enquire or do any claims, you have to do it without personal assistance.

First of all, you can always call the help desk though they may not be as efficient or even friendly (I’ve had a bad encounter with 1 financial company’s help desk, I’m declining to name the company though) But still no matter what, you can always head down to the office to make an enquiry, troublesome it may be, but hey at least its a guaranteed method! But wait a minute, now you have lesser to worry!

Most major financial companies even have online portals for you to login to see your own financial portfolio, its even faster to check it out yourself than to ask your consultant. If you think you’re not that IT-savvy which I highly doubt so, there is always phone calls and heading down the office which I’ve mentioned earlier.

So really, there is nothing to worry about with regards to servicing or claims. If you need new advise on your financial needs, there are like tonnes of people in city area doing roadshows you can approach. :P

What is truly more important is the advise your consultant give you at the point of time. Make sure you touch your heart and ask yourself if you can really trust him and feel that it is the best one he has given you. That is more important than whether he will stay in this industry for long, once you can do that, the rest is history.

Comments are off for this post

Forensic Accounting – a New Paradigm For Niche Consulting

Jun 12 2023 Published by admin under Uncategorized

OBJECTIVES OF WRITING THIS ARTICLE: Forensic accounting(F.A.) has come into limelight due to rapid increase in financial frauds and white-collar crimes. But it is largely untrodden area in India.The integration of accounting, auditing and investigative skills creates the speciality know as F.A.The opportunities for the Forensic Accountants are growing fast;they are being engaged in public practice and are being employed by insurance companies, banks, police forces, government agencies etc.This article seeks to examine the meaning and nature, activities and services rendered, core knowledge and personal skills required for forensic accounting as a specialized field in accountancy profession. Indeed there is a future in F.A. as a separate niche consulting.

The lack of respect and belief in India’s law enforcement agencies and the rate at which white-collar crimes have increased has prompted the development of Forensic Accounting in India. The fraud detecting agencies seems to lack time and devotion needed for detecting and prevention of errors and fraud. According to a large global accounting firm, the market is sufficiently big enough to maintain an unit devoted entirely towards “forensic accounting”. Many large as well as small accounting firms as well as the tiny firms have inculcated or rather developed separate forensic accounting departments.

We were of the belief that detection and prevention of frauds or white-collar crimes is part of conventional accounting function. It was thought that the frauds, both internal as well as external has be to detected by the auditors through their periodic audit. Now it is crystal clear that auditors can only check for the compliance of a company’s books to generally accepted accounting principles, auditing standards and company policies. Hence the need was felt to detect the frauds in companies that are suspected to be engaged in fraudulent transactions. This field of accounting is known as “forensic accounting”.

The litmus test of investigation, first introduced by the ever great Sherlock-Homes(considered by many as the father of Forensic Accounting) is perhaps the first ever application of forensic accounting. Though, the contribution of the other few great historians to the field of forensic accounting cannot be overlooked. They used various tricks to investigate various crimes.

F.A. is a specialized a area of accounting practice that describes engagements which result from actual or anticipated disputes or litigation. The word “forensic” means “suitable for use in court”. The forensic accountants have to keep in mind this statement while they have to work or chalk out their programme. The F.A. work is tailor made according to the situation and need. The gathering of information and evidences is done according to the need and situation. We can say, it is customized according to the situation. The forensic-accountants give expert evidence at the ultimate trial. All the modern medium-sized as well as the large-sized accounting firms have specialized forensic accounting departments. Within these firms there may be specialized forensic accounting departments. Within these groups their may be further sub-specializations. Various sub-specializations include insurance claims, personal injury claims, fraud detection, construction or royalty audits. Nearly 40 percent of the top 100 US accounting firms are expanding their forensic and fraud services, according to Accounting Today. Now if we consider this data as significant then we can say that the total contribution of forensic accounting to the total revenue of the C.A. firms would be highly significant in the years to come. Under rising instances of frauds and litigation and flourishing businesses these services are considered to be very significant as they are rendered at a very competitive price.

The forensic accountants utilize the various information relating the business, utilizes financial reporting systems, various accounting and auditing standards and procedures, investigative techniques and litigation processes and procedure to perform their work. By acting as advisors to audit committees and assisting in investment analyst research, they are playing more “proactive” risk reduction roles.This is possible by designing and performing extended procedures as part of the statutory audit. The objectives of such an accounting include measurement of losses caused by an auditor due to his negligence, to look into the matter whether their has been any embezzlement of cash, the amount, necessity of criminal proceedings, computation of asset values in a divorced proceeding.

The primary approach technique of forensic accounting is explanatory analysis(cause and effect)of the phenomena-including the discovery of deception(if any), and its effects -introduced into an accounting system field. The primary methodology employed by the forensic accountants is the verification of the objective. They are trained to deal with real world business and do have the sufficient expertise to look beyond(behind) the numbers. The scope of the forensic accountants are growing at a rapid pace. The increase in their work opportunities have been accelerated due to the fall of the Enron corporation and the collapse of the American Twin Towers.

This has led to increase in the demand for American forensic accountants. So as far India is concerned, formation of Serious Fraud Investigation Office(SIFO) is a landmark creation so far as forensic accountants are concerned. Failure of regulators to track security scams, increasing cyber crimes, chain of cooperative banks bursting -all point to the ever increasing need for forensic accountants. Our understanding of the need for forensic accountants is immaterial here. In India due to the growing number of frauds the need for forensic accountants is ever increasing. The regulatory and administrative agencies will put pressure for greater demand of forensic practices. This has been initiated due to the changing nature of Indian and International accounting.Auditing and assurance standards also confirm this. A change in the curriculum can be initiated if the written exams and practical industrial training are boosted to show the “new knowledge base and skill-set” required by the professional accountants in the new era. It is therefore recommended that the “forensic accounting and auditing” be introduced as a paper in the various professional examinations conducted by the various accounting bodies in India. Unfortunately forensic accounting is largely an unexplored area as far as India is concerned. The chartered Accountants(CAs) deal with such cases in an irregular fashion. In the western counter-part(countries), the Lawyers, police, insurance companies, government and regulatory bodies, banks, courts and business communities are increasingly utilizing the services of the forensic accountants.The accountants and the auditors must have the skills and expertise to venture into the emerging field of forensic accounting.

What Is Forensic Accounting? The growing needs of corporations has changed the definition of forensic accounting. As per Bologna and Indquist, “the application of financial skills and an investigative mentality to unresolved issues, conducted within the context of rules of evidence.It is a new emerging field that encompasses financial expertise, fraud knowledge, and a sound knowledge and understanding of business reality and the working of the legal system.”It means that the forensic accounting should be skilled not only in financial accounting but also internal control systems, the legal matters, other institutional requirements, investigative blend of mind and interpersonal skills.

According to AICPA: “Forensic accounting is the application of accounting principles, theories, and discipline to facts or hypotheses at issues in a legal dispute and encompasses every branch of accounting knowledge: ‘ Similarly, forensic accounting is defined by Horty as:
“The science that deals with the relation and application of finance, accounting, tax and auditing knowledge to analyze, investigate, inquire, test and examine matters in civil law, criminal law and jurisprudence in an attempt to obtain the truth from which to render an expert opinion.”
In simple words, forensic accounting includes the use of accounting, auditing as well as investigative skills to assist in legal matters.It comprises of two major components: litigation services, that recognizes the role of an accountant as an expert consultant and investigative services, that uses a forensic accountant, s skills and may require possible court-room testimony.
Investigation of theft and defalcation of corporate and individual assets are part of legal matters.They use their education as well as experience to discuss the facts, patterns of the theft or misappropriation.Business accounting systems are reviewed by the forensic accountants.They suggest ways and means to solve and improve the internal control and internal accounting system.This is adopted to prevent theft and fraud. Because of their expert knowledge and educational background and experience their(forensic accountants) work is elevated to a new height.

Forensic accountants do not contest in cases.They act as fact finding devices, try trt to seek the real truth from the hidden facts.They conduct their work in an unbiased and objective manner.They need legal knowledge, expertise, training and experience to perform their work in an effective and real manner.Extensive knowledge in the field of commerce, legal, accounting as well an investigative blend of mind is needed to perform the work in a proper fashion.Expertise in litigation support and testimony in courts of law are also prerequisites of the forensic accountants.This is due to the fact that their work would many times be used in a court of law.The valuation of damages due to criminal and civil wrong-doings need to be done with perfection and for that reason knowledge of business valuation theory is the most essential.

What exactly do the Forensic Accountants perform? Answer: They are trained to deal with real life business situations and are trained to look beyond the numbers.
Analysis, interpretation and summarization of complex financial and business related issues are prominent characteristics of this accounting/auditing profession. Familiarity with legal concepts and procedures is a must.Insurance companies, public practice, banks, police forces and government agencies are major employers of forensic accountants.
The various field of work encompassing the arena of a forensic accountant can be stated in points format as follows:

1) Financial evidence investigation and analysis.
2) Development of computerized software to help in the analysis and presentation of financial evidence.
3) Sharing their findings in the form of reports, slide shows or exhibits and documents collected.
4) To support trial evidence they prepare visual slides, assist in legal proceedings, including testifying in courts as an expert witness.
If we want to say or rather point out the role performed by the forensic accountants in a nutshell, we can say as follows:

Measurement or to quantify the impact of lost earnings. Such as construction delays, stolen trade secrets, insurance disputes, damage/loss estimates, malpractice claims, employee theft, loss of profit, financial solvency reports, disturbance damages, loss of goodwill, compensation losses suffered in expropriation determination, assessment of the potential business compensation costs and providing consultation on business defalcation minimization. Lease default damages, breach of contract, business interruptions, breaches of shareholders and partnership agreements, reconstruction of accounting records,
Investigation of misappropriation, assistance in establishing ownership and division of assets, commercial damages, professional negligence cases, partnership disputes, expert evidence, fair value or fair market value and personal injury damages are included in commercial damages. Tax advocacy, compliance and review of financial statements, tax reporting and tax planning in such areas as income as estate matters are included in tax matters. Analysis, interpretation, summarization, presentation of complex financial and issues relating to the business for investigation is the role of a forensic accountant.
They carry out investigative accounting and provide litigation support.

The services rendered by the forensic accountants are in great demand in the following areas:

1) Fraud detection where employees commit Fraud:
Where the employee indulges in fraudulent activities:
Where the employees are caught to have committed fraud the forensic accountant tries to locate any assets created by them out of the funds defalcated, then try interrogate them and try to find out the hidden truth.

2)Criminal Investigation: Matters relating to financial implications the services of the forensic accountants are availed of. The report of the accountants are considered in preparing and presentation as evidence.

3) Outgoing Partner’s settlement:
If the outgoing partner is not happy about his settlement he can employ a forensic accountant who will correctly assess his dues(assets) as well as his liabilities correctly.
4)Cases relating to professional negligence:
Professional negligence cases are taken up by the forensic accountants.
Non-conformation to Generally Accepted Accounting Standards(GAAS) or non compliance to auditing practices or ethical codes of any profession they are needed to measure the loss due to such professional negligence or shortage in services.

5) Arbitration service: Forensic accountants render arbitration and mediation services for the business community, since they undergo special training in the area of alternative dispute resolution.

6) Facilitating settlement regarding motor vehicle accident: As the forensic accountant is well acquainted with intricacies of laws relating to motor vehicles, and other relevant laws in force, his services become indispensable in measuring economic loss when a vehicle meets with an accident.

7) Settlement of insurance claims: Insurance companies engage forensic accountants to have an accurate assessment of claims to be settled. Similarly, policyholders seek the help of a forensic accountant when they need to challenge the claim settlement as worked out by the insurance companies. A forensic accountant handles the claims relating to consequential loss policy, property loss due to various risks, fidelity insurance and other types of insurance claims.

8) Dispute settlement: Business firms engage forensic accountants to handle contract disputes, construction claims, product liability claims, infringement of patent and trade marks cases, liability arising from breach of contracts and so on.

9) Matrimonial dispute cases: Forensic accountants entertain cases pertaining to matrimonial disputes wherein their role is merely confined to tracing, locating and evaluating any form of asset involved.

Core Knowledge Of Forensic Accountants:
A forensic accountant is expected to be a specialist in accounting and financial systems. Yet, as companies continue to grow in size and complexity, uncovering fraud requires a forensic accountant to become proficient in an ever- increasing number of professional skills and competencies. Here are some of the broad areas of useful expertise for a forensic accountant:

” An in-depth knowledge of financial statements and the ability to critically analyse them. These skills help forensic accountants to uncover abnormal patterns in accounting information and recognise their source.
” A thorough understanding of fraud schemes, including but not limited to asset misappropriations, money laundering, bribery, and corruption.
” The ability to comprehend the internal control systems of corporations, and to set up a control system that assesses risks, achieves management objectives, informs employees of their control responsibilities, and monitors the quality of the programme so that corrections and changes can be made.
” Proficiency in computer and knowledge of network systems. These skills help forensic accountants to conduct investigations in the area of e-banking and computerised accounting systems.
” Knowledge of psychology in order to understand the impulses behind criminal behaviour and to set up fraud prevention programmes that motivate and encourage employees.
” Interpersonal and communication skills, which aid in disseminating information about the company’s ethical policies and help forensic accountants to conduct interviews and obtain crucially needed information.
” Thorough knowledge of company.s governance policies and the laws that regulate these policies.
” Command of criminal and civil law, as well as, of the legal system and court procedures.

Personal Skills Required:
So what does it take to become a forensic accountant? In addition to the specialised knowledge about the techniques of finding out the frauds, one needs patience and an analytical mindset. One has to look beyond the numbers and grasp the substance of the situation. There is a need for the same basic accounting skills that it takes to become a good auditor plus the ability to pay attention to the smallest detail, analyse data thoroughly, think creatively, possess common business sense, be proficient with a computer, and have excellent communication skills. A “sixth”sense that can be used to reconstruct details of past accounting transactions is also beneficial. A photographic memory helps when trying to visualise and reconstruct these past events. The forensic accountant also needs the ability to maintain his composure when detailing these events on the witness stand. Finally, a forensic accountant should be insensitive to personal attacks on his professional credibility. A fraud accountant (as forensic accountants are sometimes called) should also observe and listen carefully. By this, you can improve your ability to detect lies whether they involve fraud or not. This is so because”not all liars are fraudsters, but all fraudsters are liars”(Wells).

According to a forensic accounting expert, “the traits of a forensic accountant could be compared to a well-baked pizza. The base of forensic accounting is accounting knowledge. Size and the extent of baking decide the quality of the pizza. A middle layer is a dispersed knowledge of auditing, internal controls, risk assessment and fraud detection. It is like the spread of the cheese in pizza. The toppings of this pizza area basic understanding of the legal environment. The legal environment is essential in order to support the litigations. The cherry on the toppings of the pizza is a strong set of communication skills, both written and oral. It is just the beautification part. Perfect combination of the pizza base, cheese spread and good toppings makes the pizza delicious and the of company’s the laws that Forensic Auditor perfects. It is a combination that will be in demand for as long as human nature exists.”

In addition to these personal characteristics, accountants must meet several additional requirements to become successful forensic accountants, say a Certification, acknowledging his competence. One can learn forensic accounting by obtaining a diploma given by Association of Certified Fraud Examiners (ACFE) in the US. Indian chapter of ACFE offers the course based on the white-collared crimes prevalent in US, based on their laws. However, there is no formal body that provides formal education of the frauds in India. Besides the formal certificate, one can deepen one’s knowledge and sharpen one’s skills in forensic accounting by undergoing training under an experienced forensic accountant, participating in various international conferences, reading relevant journals, books and other literature on forensic accounting.

To combat the frauds effectively one needs the active support of government at every stage. There are three-four such agencies in India, which are dedicated to the mission of combating frauds. Serious Fraud Office looks into violations of Income Tax, FEMA, RBI Act, etc.; CBI (Economic Office Wing) deals with big financial frauds; Central Vigilance Commission deals with corruption. These are the major government agencies that combat frauds of different types. Unfortunately, there is no specialised education provided by any of the Universities in the country. Recently, TCS has also come out with software to combat money laundering and Subex Systems have designed software to combat the telecom frauds. Thus, combating the frauds with software has started picking up in India, with few big companies like ACL and IDEA, joining the race.

The Need For Niche Consulting:
The CPA Vision Statement states: “The CPAs are trusted professionals who enable people and organisations to shape their future. Combining insight with integrity, CPAs deliver value by: (a) communicating the total picture with clarity and objectivity, (b) translating corn plex information into critical knowledge, (c) anticipating and creating opportunities, and (d) developing pathways that transform vision into reality1 It reflects the trend towards providing a broader range of assurance services. However, recent corporate accounting scandals and the resultant outcry for transparency and honesty in reporting have given rise to two disparate yet logical outcomes. First, forensic accounting skills have become crucial in untangling the complicated accounting manoeuvres that have obfuscated financial statements. Second, public demand for change and subsequent regulatory action has transformed corporate governance. Increasingly, company officers and directors are under ethical and legal scrutiny. Both trends have the common goal of responsibly addressing investors’ concerns about the financial reporting system. Indeed, there is a future in forensic accounting as a separate”niche” consulting area in India. The need to specialise, otherwise known as Niche Consulting, is imperative to practising accountants because the fast-paced developments in business thereby demand specialised knowledge and skills. While a majority of CAs have excellent analytical skills, they need to acknowledge that ‘forensic’ services require ‘specialised’ training as well as real-life ‘practical’ corporate experience. There is a need for specialised information, not just audit and tax service. What clients seem to want are people with unique sets of skills and experiences. With the maturing of the audit business, and the rapid development of technology that makes existing services low cost and cheap, it appears that it is the right time now to acquire those unique skills. To help practitioners move into ‘niche’ consulting, some professional organisations in the US have concluded that: “Future success for the profession depends, in part, on how the public perceives the ability of CPAs. New efforts in consulting, specialisation and understanding global business practices and strategies are considered crucial. We go out into the niche market, examining our strengths first. We go where the action is, only then we know we can adequately service our clients and make money doing it.” One area where ‘niche’ consulting is becoming the global trend is in “Forensic Accounting and Auditing’ But the major question facing the Indian accountancy profession is: Are we ready to plunge to where the challenging action is?

Forensic Accounting In India:
It is in an infancy state in India.It is still an untrodden area in India.But due to ever increasing cases of bank & cyber-frauds its growing importance cannot be denied.
One immediate landmark creation is “Forensic Research Foundation”.They provide support for investigation of fraud.They publish one bi-monthly journal named as “White Crimes”.It relates to forensic and economic crimes. Another international organization named as KPNG has set up investigation detection centre in India.. Networks Limited, a Delhi based organization, working in the similar field, they are also trying to innovate ways and means to detect financial irregularities and crimes in India.Serious Investigation Fraud Offices(SIFO), has been established in India for the same reason, i.e. detection and prevention of economic irregularities and crimes. The need for such bodies and the importance of Forensic Accountants have been highlighted by L.N.Roy Committee.Lenin Parekh Committee has also expressed the view that one “fraud detection committee”need to be established. The main aim of such boards should be to prevent the interest of the stakeholders.

Conclusion:
Forensic accounting in India has come to limelight only recently due to rapid increase in white-collar crimes and the belief that our law enforcement agencies do not have sufficient expertise or the time needed to uncover frauds. A large global accounting firm believes the market is sufficiently large to support an independent unit devoted strictly to ‘forensic’ accounting. All of the larger accounting firms, as well as, many medium-sized and boutique firms have recently created forensic accounting departments.

Forensic accounting, in fact, integrates accounting, auditing, and investigative skills to conduct an examination into a company’s financial statements. Broad-based knowledge (within the themes listed above) is crucial to the success of entry-level forensic accountants. Because forensic accounting is relatively a new area of study, a series of working definitions and sharing of corporate experiences should be undertaken and encouraged to ensure a common understanding. Indeed, there is great future in forensic accounting as a separate”niche” consulting.

While the forensic accounting and auditing practice had commenced in the US as early as ’1995, the seed of this specialisation has yet to take off in India. Forensic accountants are only dealing with financial implications of the cases entrusted to them and not engaging in auditing exercise. On account of global competition, the accounting profession must convince the marketplace that it has the “best-equipped” professionals to perform such services.

Forensic accountants are also increasingly playing more ‘proactive’ risk reduction roles by designing and performing extended procedures as part of the statutory audit, acting as advisors to audit committees, and assisting in investment analyst research.

While majority of CAs have excellent analytical skills, they need to acknowledge that ‘forensic’ services require ‘specialised’ training as well as real-life ‘practical’ corporate experience.
…………………………………………………………….
References: –
1)Journal Of Forensic Accounting: Editor-In Chief: Crumbley D. Larry, Publisher: Inc.Edwards. R.T.
2)Journal Of The Chartered Accountant 2007, Pages: 1000-1010.Dr. Madan Bhasin, The Author is Head, Accounting Department, Mazoon College, Muscat, Sultanate Of Oman.
3)Referential Notes Of Prof. Dutta Kr. Uttam, Reader Deaprtment Of Commerce, Reader, University Of Burdwan.
4)Website access: http://www.wikipedia.com, accessed on 4th, February, 2008.

Comments are off for this post

Overwhelmed By the Thought of Remodeling? Hire a Renovation Consultant

Jun 11 2023 Published by admin under Uncategorized

It has been said that a home renovation can involve as many as 15,000 decisions. That is a daunting number, and many homeowners who intuitively understand this either refuse to do a needed renovation at all, or end up with a “nightmare contractor” story to tell at cocktail parties.

There is another option that is gaining popularity. It involves hiring a renovation consultant, also known as a remodeling coach. Unlike a general contractor, a renovation consultant acts as your agent, and is paid to look out for your interests.

Whether you are thinking about a total home renovation or a simple bathroom update the process can be a mystery: Do you start by calling a contractor? Or should you select a designer or architect first? Do I need a designer? Can I move a wall? Am I overbuilding for my neighborhood? All valid concerns. Renovation consultants are individuals or companies that guide homeowners through the renovation process from beginning to end.

While services vary depending on your needs, a renovation consultant can help you put together an action-plan that makes sense. This plan should include establishing a budget and developing a prioritized list of needs and wishes, and should help you understand what to expect before, during, and after, the renovation. If needed, the consultant can become part of your permanent renovation team to ensure that communication, quality, and scheduling are maintained. Acting as your agent on site, they are your eyes and ears while you continue to live your life.

Renovation consultants also can assist you in the purchase of a property. In some cases buying a “fixer-upper” is the best option for you. It may be that you are looking a specific location where there are few choices or your budget mandates that you buy a fixer. Whatever the case spending $400 to $700 before finalizing the purchase of a property can prevent surprises down the road. By carefully examine the layout, current condition and zoning limitations and then overlaying your needs and wants the consultant can advise you about the design potential and the functional limitations of the property.

While all renovation projects are unique this is a list of the most common items a good renovation consultant will help you with:

1. Assess existing conditions
2. Develop project scope
3. Complete a Move vs. Remodel analysis to help you determine if you should move or remodel
4. Value engineer the project; suggest alternate materials or design approach
5. Develop a realistic budget
6. Assist in choosing design professionals Material selection and specification
7. Produce the request for bid or proposal documents
8. Review bids/proposals Choose construction professionals
9. Recommend construction professionals

If needed they can also assist with:

1. Monitoring quality control
2. Managing the project schedule
3. Management of weekly project meetings
4. Monitoring payment schedule and payments
5. Meditation disputes
6. Management of punch list completion

Comments are off for this post

Small Business Consultants – The New Era Begins

Jun 09 2023 Published by admin under Uncategorized

Ever since it’s inception, the Internet has been the most preferred option for marketing of products and services. And with Internet marketing, comes Internet Business consultants who can help in making your business thrive with their sound advice and their level of expertise. Unlike your regular run of the mill consultants, internet business consultants are known for their skills in marketing products and their service skills. Since the internet provides you with loads of online tools and marketing strategies, business people venturing into this foray take the help of these professionals. They help with selling, marketing and promoting your products and services online. These consultants can help you in lessening the burden of your work by helping you organize your work and developing your very own working system.

A consultant can help you increase your productivity and help you stress on your plus factors which would be in direct relation to the company’s success. They can help you negotiate the most cost effective computer maintenance and support agreements while helping you to generate income at the same time. Since they have been hired to increase productivity, they will personally review and evaluate the recommended improvements to your business. They are the ones who will openly tell you about the flaws and the vices in the running of your company. Since they are trained and educated in various marketing and business strategies, they have the upper hand of using big market strategies to help small businesses achieve their desired goals.

Some marked advantages that a business reaps by employing a business consultant are:

You have the ability of competing with larger companies that have an on-site support staff. One can improve and develop employee productivity by allotting one-time tasks to those who do not bear the responsibility of business operations. You can manage your time productively. You have the advantage of benefiting from the expertise of business specialists without the cost of adding extra staff

Since Business Consultants are always in a position to assess your current situation which includes competition, marketing and budget, you are always ahead of the game. What you may not see; the consultants can in the form of your company’s goals and personal objectives. And the plus point is that when they do their research pertaining to your objectives and other aspects, they come out with possible solutions and set them in course with the company’s goals. They do not believe in a very rigid program of operations and they find out alternative means of operation when the former does not work out.

Hiring Business Consultants is the most personal option a company can choose because they devote themselves to you and the flourishing of your operations. They are helpful in assimilating every aspect of your company’s marketing strategies and offer a complete array of consulting services which suits both the interests of your company as well as your budget. Instead of paying too much and at the end getting little or no results, you pay consultants just what you need and when you need it so it is a pocket friendly option too.

Raul Quiroga created the “Small Business Equalizer” a consultant company to help struggling small business owners in the Austin, Texas area. Small Business Equalizer is a lot more than just an Austin Search Engine Optimization Company. It uses unique specifically designed strategies for each individual business based on immediate and long term needs. The consultants at Small Business Equalizer help enhanced and aggressively promote the small businesses presence and brand on the web. Allowing local small businesses to flourish and compete successfully with much larger businesses by providing an advantage for their clients with the search engines.

Comments are off for this post

Small Business Marketing: The Importance of Seeking Management Consulting Advice

Jun 04 2023 Published by admin under Uncategorized

Within the past decades, the small business market has noticed a huge boom. Many business owners have experienced success but just as many have experienced failure and bankruptcy. It really is correct that initiating, and starting a small business is not difficult but a variety of factors that need to be considered in targeting a certain market and managing a small business is the challenging part. Those who fail in the small business marketplace are the ones who attempt and overlook the most vital aspects of the business. It may give them a sense of importance in operating an enterprise yet becoming profitable in it is another matter.

As a consequence and the nature of small businesses and organizations, developing business and marketing strategies can be a challenging job. Usually business owners who face these kind of conditions in which their clients and customers are left disappointed by the lack of products and services are the ones who fail. It’s essential for small business owners to seek management consulting solutions in order to be aware of the managerial elements that are crucial for running a productive enterprise. A management consulting firm can offer the company proprietor tactics, techniques as well as the ideal procedures for the business. One of the most important concerns reviewed by consulting companies is that of adapting to a changing business environment, to include a change in client demands, the environment or maybe a change inside the organization itself (employing and firing workers etc).

There are three major elements of every small business which can be taken into consideration by consulting firms to style a general method for your business. The 3 components are:

1. Developments,

2. Modifications

3. Consumer demands

Operating on these three components, a consulting firm can design an overall organizational and operational strategy for the small business to adhere to.

What type of company should use management consulting services?

Any small business regardless of whether it’s a mid-size or a small company should as a result of the consultation method, in order to have knowledge the locations and marketing demographics that need to be targeted, and why. These factors could seem unimportant to begin with, yet in the long run; these minimal factors could determine the success for that business. Every entrepreneur wants their small business to be successful so every segment of professional advice can go a long way in obtaining business goals.

Utilizing a consulting company to assist you to manage or develop your business is at times difficult to accomplish. In many situations individuals and entrepreneurs’ are protective of their businesses, and they let pride get the way of success. Those who take the leap of faith and make a decision to obtain professional help are the ones who are ready to take the actions necessary to achieve the desired results.

Comments are off for this post

Consulting Jobs – Different Types of Consulting Jobs

Jun 03 2023 Published by admin under Uncategorized

Consulting is one of the fastest growing industries both in the online and offline arena. This is a type of service being offered by professionals and experts to help individuals and organizations in evaluating and enhancing the various aspects of managing a business, organization, or home. To become a consultant, you must have relevant employment experience within your chosen field as well as working knowledge of resources to give your clients everything they need to reach their goals or to solve their pressing issues.

There are so many consulting jobs that you can consider these days. One lucrative option is a consulting job that involves business organization and function. You can become an organizational consultant and help clients restructure their corporate organization in order to increase productivity and efficiency of the business. You can also choose to become an information system consultants where you can offer assistance to clients who need help in redesigning or creating electronic communication network within the organization. Another possible option is marketing consulting. In here, you’ll help your clients in creating and implementing marketing campaigns to boost their sales and revenues.

If running a business is really not your cup of tea, you can consider offering consultant jobs for home. You can start a career as decorating or landscape consultant. Through this, you can help your clients design their dream houses.

You can also work for non-profit organizations. You can be a fund-raising consultant and assist charities in getting new donors. You can also be an outreach consultant and assist in designing or improving local houses of worship.

Comments are off for this post

Bellamysworld an online marketplace for works of art

Jun 03 2023 Published by admin under Uncategorized

Bellamysworld is an innovative online marketplace that offers the most refined works of art to a worldwide audience.

It was founded in 2003 by Philippe Abdeni and maintains a significant vision: ‘To be the leading marketplace for Art and high-end accessories.’

Bellamysworld’s team is on a constant quest to find the most precious,Guest Posting extraordinary antiques and artifacts around the world.

One of the ways this global treasure hunt takes place is often thanks to a network of international collaborators who inform Bellamysworld about any abandoned residence or about any collections that could potentially include valuable unexplored artistic treasures.

With timeless collections that merge past cultural and artistic eras with the present day, Bellamysworld.com is a gallery-like Art marketplace with international delivery service and the most competitive prices online. It is the first multilingual e-commerce website of its kind (English, French and Arabic languages).

You can find unique items from iconic brand names such as Piaget, Hermes, Montblanc, Bvlgari, S.T Dupont, Cartier, Baccarat, Emporio Armani, Rosenthal, and more.

Bellamysworld’s authentic collections include a wide selection of fine and modern art, antiques, paintings, furniture, carpets, decorative items, collectibles, pens, jewelry, and more.

Whether you’re looking for a collector’s item or the ultimate writing instrument, Bellamysworld’s fountain pen collection is extensive, tasteful, and quite the inspiration.

You can find brand new pens from the most iconic manufacturers such as Montblanc, Graf Von Faber Castell, Ferrari Da Varese, S.T Dupont, Aurora, Visconti, Montegrappa, and more. Some available pens are incredibly rare, limited edition pens or part of a limited series, ones that are hard to find elsewhere.

The gallery’s featured paintings are from all over the world, made by exceptional painters including Claude Jouhanneau, Maurice Mulot, Andrée Pollier, Ksenia Millicevic, Vladimir Tchernychev, Claudie Hunzinger, Ervin Neuhaus, and Cosmina Ene. The vast collection of paintings also includes artwork by remarkable Middle Eastern and Lebanese painters.

Behind each item of the brand’s unique and authentic collections lies a story to uncover. Through deep passion and love for art, history, and culture, Bellamysworld’s team is committed to sharing its expertise with enthusiasts worldwide.

Comments are off for this post

Difference Between 304 and 316 Stainless Steel

Jun 03 2023 Published by admin under Uncategorized

I believe that many people now have stainless steel containers in their homes. Why are stainless steel containers favored by so many people because they will not rust and are very resistant to high temperatures. It is also very convenient to clean,Guest Posting but when we buy, we must distinguish between 316 and 304 stainless steel. Although they are all stainless steel, the difference is very large. Today, I will introduce to you what is the difference between 316 stainless steel and 304?

Difference between 304 and 316 stainless steel:

1. The difference in usage
Both 304 and 316 have reached food grade, but 304 stainless steel is usually used in our home appliances and household containers, and 316 stainless steel is generally used for the production of medical equipment tools. Our family container is enough to reach 304, so if the merchant says that his container is 316, it is fooling you.

2. Corrosion resistance
304 steel is resistant to corrosion by sulfuric acid, phosphoric acid, potassium acid, urea, etc., and is suitable for general water, control gas, wine, milk, CIP cleaning fluid and other occasions with little corrosiveness or no contact with materials.

316 has increased corrosion resistance on the basis of 304, which can significantly improve its resistance to intergranular corrosion, oxide stress corrosion, and reduce the tendency to heat during welding. It also has good resistance to aluminum chloride corrosion. . Therefore, the corrosion resistance of 316 is better when the chloride ion content is higher. Due to the addition of molybdenum element, 316 stainless steel has a special corrosion-resistant structure and stronger chloride corrosion resistance. It is also used as “marine steel”.

3. The price difference
316 has molybdenum and nickel added, so the price is a little higher than that of 304.

Advantages of stainless steel pipe:

1. Relatively high temperature resistance, 304 and 316 stainless steel are better than ordinary stainless steel, and the high temperature resistance can reach up to 800 degrees, which is suitable for various places.
2. Anti-corrosion. Both 304 and 316 have added chromium, which has stable chemical properties and basically will not be corroded. Some people use 304 stainless steel as anti-corrosion materials.
3. High toughness, can be processed into different products, and the quality is very good.
4. Low lead content. The lead content of 304 and 316 stainless steel is extremely low and does not cause any harm to the human body, so it is called food stainless steel.

How to avoid stainless steel rust?

Generally, 304 and 316 stainless steel are not easy to rust. Be careful not to soak the stainless steel container in salt water for a long time. It will not rust. If the stainless steel encounters chloride ions, it will cause corrosion, so try to avoid and Contact with salt, sea water, etc.

Comments are off for this post

5 Mind Blowing Reasons Why Flowers Will Brighten Up Your Day

Jun 03 2023 Published by admin under Uncategorized

Flowers signify love, care, and affection. Receiving a perfect floral arrangement can make your day and keep you feeling happy throughout the day. In this article further you will read Reasons Why Flowers Will Brighten Up Your Day

Ralph Waldo Emerson aptly stated that the earth laughs in flowers. Well,Guest Posting we can safely assert that without flowers, the world would be similar to a sky sans stars. Humans, as a species, need flowers to feel complete and wholesome. They are the visual treat that makes our mundane lives tolerable. Apart from being a sight to the sore eyes, flowers have several tangible benefits. They improve our moods, reduce fatigue and lower stress, help to cleanse the air, minimize headaches by improving air quality, and so forth. Psychological analysis reveals that flowers make us happy by calibrating the happy hormones of our brain – dopamine. Dopamine is a hormone that is released when there is a reward associated with a situation. Historically, flowers have been a significant harbinger of reward as flowers represent the onset of abundance and bounty in the harvest. Therefore, our brains have evolved to subconsciously link flowers with enriching times, triggering dopamine release in contemporary times. As such, flowers induce a dopamine release in our brains, fashioning a sense of warmth, love, and romance in our lives. Lastly, the presence of flowers can calm down depressing and anxious thoughts by releasing serotonin in the brain. Hence, flowers have veritable significance in the lives of humans, and there is no way that we can live without them.

Now that we know why and how flowers bring happiness and joy into our lives let us examine five mind-blowing ways why flowers will brighten up our day.

FLOWERS AND THEIR VERITABLE IMPORTANCE IN OUR DAILY LIVES

Flowers Cleanse the Air – Flowers play a significant role in cleaning the air of our lives and bringing more peace and serenity to our lives. The smell of flowers, coupled with their air-cleansing properties, make them an excellent choice for decorating homes. Flowers like Peace lilies, bromeliads, snake plants, etc., facilitate the removal of harmful toxins from the air. They can also help you get a more peaceful sleep as they produce massive amounts of oxygen. The scent of flowers like roses and lavender has aroma-therapeutic powers, and they also help calm you down and induce a Zen-like ambience in your homes. Therefore, the first way flowers can brighten up your day is by creating a livable and soothing space.
Flowers are Excellent Mood Enhancers – It is undeniable that vibrant colours have a role in making us joyful. Placing bright and vibrant flowers around a room can instantly brighten your day and help you connect with people better. A 2008 report by Park and Mattson shows that flowers can lower blood pressure, minimize feelings of pain and anxiety, and help people deal with tiredness. The combination of dopamine and serotonin-induced flowers can help you de-stress and unwind. Another interesting study by Raanaas, Evensen, Rich, Sjostrom, and Patil shows that flowers have the potential to improve your cognitive capabilities with their presence in your workspace. Hence, flowers can, in literal terms, brighten up your day by making you happier and more pleasant and by keeping negative thoughts at bay. So, buy yourself that bouquet of roses if you feel stressed and are looking for a way to unwind and learn The Art of Gifting.
Flowers can Improve Your Relationship – It is undeniable that flowers and romance go hand in hand. Fresh blossoms play a major in keeping any relationship alive and thriving. Flowers are an excellent gift for your long-term partner or even your first date. They are also a great way to resolve fights. You can also use them to impress your love interest on special occasions such as anniversaries and birthdays. Moreover, you can also opt for beautiful bouquets as a gift for friendship day, mother’s day, father’s day, and so forth. Hence, flowers not only have the potential to brighten up your day, but they can also brighten up the day of your near and dear ones with their presence.
Flowers Have Healing Abilities – Although flowers may be synonymous with beauty and serenity, they are equipped with far more properties. Various flowers possess medicinal properties, and they have been used for healing purposes since history. They are utilized to cure different types of ailments and do not have any side effects. Remedies induced from flowers are all-natural, friendly, and affordable. Lavender, hibiscus, roses, etc., have various medicinal and calming characteristics. Therefore, flowers can lift your day and your health too.
Flowers Complement Your House’s Design – The best thing about flowers is that they come in all shapes, sizes, and colours. They are the quintessential accompaniments for your household interiors and designs. Flowers are easy to choose from, and you can also change them as per your mood and preference. Furthermore, you can use seasonal flowers to decorate your house and rejuvenate your spirit accordingly. They are the perfect incentive when you want to create a pleasant and serene ambience. Lastly, if there is any function or event at your home, you can choose flowers as decoration. Carnations and roses are a great option if you are looking to revamp your abode. As such, flowers will brighten up your day by adding a breath of fresh air into your house.
In conclusion, flowers have various salient features that have helped humans attain peace, happiness, and serenity since time immemorial. Our ancestors recognized flowers as the bringer of endless joy as flowers represent the onset of the harvest season. And even now, flowers induce a similar feeling in our lives. The presence of fresh and vibrant flowers results in the release of happy hormones and stress-busting hormones in our brains and makes us appreciate life better. As such, flowers can brighten up our day with solely their presence. If you are looking to make a loved one feel special, then gifting flowers will be an excellent decision. The brightly coloured blooms can make everyone smile and feel warm inside their heart. So, grab a bouquet of lively blooms with Florist Ivanhoe for you or your loved ones today.

Comments are off for this post

Older posts »