E-payment, online money transfer and modern bookkeeping
When e-commerce began its meteoric rise in the late 1990s, the security systems of major banks and card providers were unable to keep pace. Initially this led to a sort of small-scale mass panic, as web users debated whether an action that fundamentally constituted sending card details to an anonymous stranger over the Internet was […]
What can go wrong if you do your own bookkeeping without being qualified?
The idea that an unqualified person can do their bookkeeping may appear odd, but people do it. The main reason they do it is to try and economise, because a qualified bookkeeper will undoubtedly cost more. The similarity between a qualified bookkeeper (the professional) and an unqualified one is that both have the basic knowledge […]
The difference between debtors and creditors in bookkeeping
The terms ‘debtor’ and ‘creditor’ refer to key entities within the field of bookkeeping. It is important that both accountants beginning to establish their professional career and students interested in pursuing a career in bookkeeping possess a comprehensive understanding of these terms. By doing so, advancing accountants and aspiring bookkeepers can continue to hone their […]
An explanation about PayPal
This explanation about PayPal is one of the subjects IAB students need to be aware of and is taken from the IAB Study Text (which is given free to all IAB students when they register with IAB): PayPal is not a bank, it doesn’t pay interest or give loans. However, the payments system it provides […]
An introduction to Sage accounting software
Bookkeeping is an important aspect for any business both big and small. Developing skills in bookkeeping enhances job prospects for individuals. Bookkeeping involves systematic and comprehensive recording of a company’s financial transactions. The process involves classifying, analysing, and summarising financial data over a particular period. The management of the company uses this financial information to […]
What is the difference between bookkeeper and accountant
The International Association of Bookkeepers (IAB) explains in its Study Text (which all IAB students receive on registering for an IAB qualification) the difference between bookkeeper and accountant: The term ‘accounting’ is generally used to describe a range of activities associated with: Although all of the above activities are described as ‘accounting’ we actually find […]
The importance of bookkeeping
The main reason why bookkeeping is such a lucrative career is because every business, no matter how big or small, needs to have a bookkeeper to ensure their finances are in order at all times. Poor bookkeeping can be mayhem for a business, which is why a qualification from the International Association of Bookkeepers (IAB) […]
Guide to careers in the accountancy and bookkeeping professions
There has never been a better time to join the finance profession: demand is growing, salaries are increasing and career opportunities are many and varied. Financial expertise is vital to the success of each and every business, big or small, so skills in accounting and bookkeeping can open the door on a world of possibilities. […]
Competency Based Training
Introduction Even though Competency Based Training (CBT) is a concept that has been around for decades, it has only recently gained mainstream attention for both its effectiveness and ability to create competitive advantage through human talent. Many organisations claim to have fully implemented competency based training models, but the reality is that few do. This […]
Why is it important to identify and meet individual learner needs when teaching?
Every teacher must believe and understand that all their learners ought to acquire equal hopes, education and future aspirations from their learning. On the other hand, the teacher must know that they will meet learners with different dynamics during their teaching career. The main difference is that some students will learn fast, and others will […]