ACCOUNTING AND FINANCIAL MANAGEMENT FOR SUSTAINABLE DEVELOPEMNT

IUsiness enterprise is essentially an economic organization and has to maximize the welfare or the interest f the members. For this, it has to earn surplus profit, savings or by whatever name it is called, on its perations. This means that its receipts should be more than its expenses over a period of time, though what rill be done with this surplus depends upon the objectives, philosophy, ideology and a number of other 1ctors. The objectives of this paper is to find ways of measuring the success of a business enterprise, which ; to compare the volume of. such surplus with investment made in business, and how the financial 1anager' s maximization of the market value of the firm. Since the financial manager is a key member of the )p management team, his decisions are felt throughout the firm. Funds flow to industries where earnings xpectations are high, and the individual firm allocates its available funds to projects that promise the rate of ~turns, always considering the risk involved. The paper recommends that financial managers should be oncerned with the selection of specific goals like the types of assets that organization should acquire, the mount of the funds that should be used for expansion, the sources and application of funds, followed with 1e strategic components of financial planning: setting financial objectives, planning ongoing operations, apital budgeting and optimal financing structure. Profit planning compels management for sustainable uture of our economy

Technological Innovation and Career Development: "But Who Pays?"

We want to encourage and help managers to become more innovative in their problemsolving and decision-making, so that the commitment of today's resources to the future leads to the achievement of appropriate long term strategies for their companies. It is inevitable that this paper can attempt to cover only a small area of the ground and it would be naive to offer solutions which should in situation all determined. The objective of this paper is to help develop analytical skills and the ability to ''home-in" on the relevant pieces of information. The paper recommends that apart from stating general hypothesis regarding posstble causes of the lack of innovation in a business, although there still remains the question of whether they are valid. It would certainly be worthwhile to examine the strategies of the learning and problem solving process referred to earlier not only in formal learning situations such as those provided by courses and seminars, but perhaps more importantly in the on-going work situatio

How to Pass Executive Accountancy

The Association has decided to place considerable emphasis on one of its last papets, Executive Accountancy, as this is orie. of the areas where the Executive Accountant will come in contact with Management. Of the working population in the U.K., about 60% are probably involved in Commerce and Industry, either in Government or nationalised industries. This is where I agree wholeheartedly with the Association: that students must be examined and they are expected to present a work that represents 80% of their thinking ability as they are pro· bably going to meet with this in their future employmen

AUDITING PROFESSION IN PERIL: TIME IS RUNNING OUT

There is increasing demand in auditors by regulators, third parties and users of their services in terms of their responsibilities and duties to perform. This is because, it is auditor's opinion that furnishes investors with critical assurance that the financial statement have been subjected to a rigorous examination by an objective, impartial, and skilled professional, and that investors, therefore, can rely on them. The auditor as a professional is dependent on his skill and professional competence for livelihood. But where audit fee keep dwindling with increasing risk; and other accounting services are available for the auditor, he might take up such opportunity. This paper examine why auditing is proving risky and expensive and concluded that the profession, the regulators and users of their services come together to review the profession, it might be difficult to source auditors in future

Management and Enterprise Development in Nigeria

Management development is currently about many things - making sure that the candidate has right sort of up-to-date specialized knowledge, functional know-how, skills training, management knowledge and job experience - but the one experience that distinguishes it from other field of learning is that, it seeks the opportunity to prove growth both to the enterprise and for all its staff. As a result, large organizations have strived over the last decade to promote additional entrepreneurial activity and to capture more opportunities than their normal product development systems seem to permit This has provided entrepreneurship experts with plenty of food for though. However, the evidence is strong that nothing leads to failure like success. During the 1980s the idea of developing and supporting entrepreneurs with the main organization ('entrepreneurship') became more rapid. The paper suggests that, there should be an open door to the efforts of individual and teams working on innovations that spun off from the company's main product portfolio. In the end, capturing these opportunities led to additional growth and renewal of the organization/enterprise. The paper recommend that the organization should develop technique that uses leaderless discussion groups to develop awareness and sensitivity to oneself and others (sometime T-group training and laboratory training). Sensitivity training is not widely used today as an organization/enterprise development technique. Successful entrepreneurial organizations have come to realize that there is a central role for the very type of entrepreneurial activity that was present at the early formation of their business. The enterprises themselves must deliver by becoming entrepreneurial corporations