The Practice of Accountancy

Accountancy, they say, is like the Law: It's not something to think about in detail until you need it, but when you need it, you want to be on the right side of it!!

A feature of this website is to bring to you a comprehensive overview of accountancy in 2018, from double entry book keeping to budgetary planning. We have not spared you the details - these are often the crucial pieces that makes the jigsaw complete.

We have not ignored any element of the profession - the reaches of good accountancy can be very widespread. And we have not spared you any of the more complex ideas - accountancy is about understanding fiscal concerns, and taking the right viewpoint, but knowing what the limitations any particular viewpoint have. Like a great many things, accountancy is very challenging until you understand it, but when you do many other things become clearer.

By offering this website to the general public free of charge, we are not concerned that the accountancy as a profession will cease to exist as individuals and businesses will start to do it themselves. Accountancy is hard work, requires a dispassionate approach and a high level of skill. On the contrary, anyone reading this website will get a greater insight into what an accountant can do, and a greater appreciation about how they go about it.

The point of this website is to bring a greater understanding of accountancy so that your conversation with your accountant can be that much clearer and go that much further. An informed discussion is better for both the accountant as well as his client.

Take what can from this site, then go talk to your accountant - it will pay you to do so.

Interested in Educating Users of Financial Reports

Read on: Performance Evaluation Summary

The budget process alone is not sufficient to maintain adequate management control. Too often, organizations tend to expect results from budgetary control and fail to recognize its behavioural implications. As a result, pressures are created leading to mistrust, hostility and actions detrimental to the long-term prospects of an organization. It follows that accountants should work more closely with behavioural scientists and that they should learn more about the behavioural implications of organizational control.

Participation schemes may be introduced into organizations with due consideration... see: Performance Evaluation Summary