Hofstede 5 Dimension Models Analysis

Country Wise analysis of Hofstede Model of HR Management Hofstede’s model of 5 culture dimension The Hofstede’s model explain the cultural similarities and differences of different countries. He explained 5 different cultural aspects which can exist in an organization. The power distance dimension tells about the acceptability of equal power distribution in the organization or… Read More »

Designing HR Strategy inInternational Organizations

Strategic Human Resource management Many HR Models have been developed by the experts based on varying assunmptions. All models try to identify issue, and discuss ways how to overcome HR challenges. However we can refer to general framework of modeling HR in any organization as depicted below. This will help us to identify most relevant… Read More »

Challenges Faced by MNCs and Cross Cultural Management

The organizations that run operations beyond the national horizons are changing the world trend of business practices. The appetite for expanding the business operations across the two or more countries has largely increased due to recent developments and advances in technological, transportation, and fast communication across the globe. The organization achieve major objectives of maximizing… Read More »

Decide Factoring or Bank Loan – Analysis

Difference between Factoring and Traditional Bank Loan Factoring of accounts receivable financing is an immediate, flexible option for businesses to generate cash in-flows. The business overcome the working capital related problems, for example, to pay to suppliers or other day to day expenses. Here is how factoring differs from a traditional banks loan. In bold,… Read More »

Professional Judgement in Auditing

Concept of judgment Judgment is a fundamental characteristic of all professions — including auditing. The concept encapsulates the notion of evaluating the circumstances and/or available evidence relevant to a known objective, and forming an opinion based on that evaluation. It contrasts with achieving an objective by means of following an established set of rules or… Read More »

Inherent Risk in Auditing and its components

So what constitutes Inherent risk:  This is the risk or likelihood of material error being present in the ifnancial statements in the absence of internal controls (that is, controls designed to prevent errors from occurring). As may be seen from Figure 3.3 inherent risk derives from three main sources. These are as follows: 1. Management integrity: The likelihood… Read More »

Internal Control Risk – Sampling and Quality Control Risk

This is the risk that material misstatement will occur in the auditee’s accounting data (and hence in its financial statements) because it is not prevented or detected and corrected by the company’s internal controls. Some internal control risk will always be present because any internal control system has inherent limitations.12 However, if a company has… Read More »

Lean Management Principles

The lean management tactics is one of the emerging trends in the management of systems. Where the lean management is discussed as the system enhances the customer value and results in reduction of the wastage process in an industry or in a company. In this article the lean management is discussed about the in the… Read More »

Practical Steps in Forensic Auditing and Fraud Investigation

World Stats of Fraud According to the statistics presented in the Report published to the Nations on Occupational Fraud and Abuse (Current year Fraud Study) issued by the Association of Certified Fraud Examiners (ACFE) as you finish reading this sentence about frauds, the world would have faced loss of $1.8 million to fraud. Fraud normally… Read More »

Discontinued Operations Examples by AICPA

EXAMPLES OF DISCONTINUED OPERATIONS. You should know which activities do not fall under the discontinued operations. According to APB Opinion No. 30 the discontinuance of a part of a segment of a business, that is the phasing out of a class of service, product line, or a shift in production activities or marketing strategies or… Read More »