How to Handle Every Accounting Courses Challenge with Ease Using These Tips

This challenge can be handled by choosing the course with the right offering and from the right online learning platform.

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Accounting is a profession that attracts talent from around the world. It is a sought-after profession in many parts of the world. Accounting systems and practices are different in different parts of the world, which makes uniform and standardized learning both futile and impractical. Regulatory practices are at the core of accounting and auditing. Noncompliance to these practices has resulted in serious frauds and money laundering among some of the reputable organizations of the world.

It is to help prevent such occurrence that proper and professional training is a must for accounting. Well-designed accounting courses are the solutions to this issue. Accounting courses help practicing and upcoming accounts professionals to understand the ways by which to adapt the right accounting practices that are compliant with the regulations for the industry. This makes the choice of accounting courses a very vital element of accounting.

Want to understand how to handle every accounting courses challenge with ease? Using these tips should be of use:

Identifying the training needs

The main point of how to handle every accounting courses challenge with ease using these tips, learn to identify the training needs. This is the foundation for accounting courses. The organization or individual has to first get a proper and thorough idea of what training is needed. Some of the questions it can examine can include:

  • What area of accounts does one need training in?
  • What is the training going to cover?
  • Who is going to offer the training and through what medium?

Examining these questions can go a long way in helping to handle the challenges associated with accounting courses.

Choose the best suited mode of training

One of the main challenges of handling accounting courses is the choice of the right medium of learning. Unlike subjects like chemistry or biology, accounting courses do not have to bring the student and the teacher together at one location in close physical proximity to each other. Accounting courses are taught through various means. It is no longer necessary to attend regular classrooms to gain proficiency in accounting. Accounting courses are offered online. This challenge can be handled by choosing the course with the right offering and from the right online learning platform.

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Yet, if an organization or individual feels after making an evaluation of the mode of learning feels that having the course taught in person can be more useful, it can go ahead. It is all a matter of its own convenience and suitability. It completely depends on the course content, the relevance of the course, the number of people taking it up, the feasibility of the course and factors such as these.

What should those who want to choose a course in accounting look for?

In explaining how to handle every accounting courses challenge with ease using simple tips, let us look at what course to choose. With so many courses available online or in person and with so many organizations offering trainings, it can sometimes end up confusing the person or organization that wants to take up the accounting course.

This again can be a challenge that can be overcome with ease. Make a thorough investigation of the course content, the online learning platform offering the course and the experience and reputation of the expert. This should help resolve this challenge without too much difficulty.

Set and evaluate the outcomes

Another of the suggestions for how to handle every accounting courses challenge with ease using these tips includes setting goals for the learning and evaluating the outcomes. This is a very critical aspect of accounting learning challenges. The organization should talk it out with the trainer about the learning needs and identify the goals. Once the objectives of the learning courses are set, the organization should help the employees go ahead with the learning.

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The next step is to evaluate the outcomes once the learning is complete. This will help to measure the outcomes of the learning, which is really an important tool. There is little or no point in teaching accounting courses when there is no assessment of the impact the learning has had on the participants.

Measuring tools can be employed and mapped against the goals. With tools such as this, organizations can get a clear idea of what purpose was served at the training.

https://www.efrontlearning.com/blog/2017/04/common-training-challenges-solutions.html

https://economia.icaew.com/opinion/october-2014/top-three-challenges-facing-accountants-today

Most AI Applications that have real-world business significance for debt collection [today]

Today seem to be in personalizing communications to customers and identifying clusters of similar debtor profiles.

According to the Consumer Financial Protection Bureau, Americans filed more grievances about debt collections than about any other financial incident. Of the 316,810 complaints received by the CFPB about debt collection in 2017, the most common was, “Continued attempts to collect debt not owed,” which was cited by 39 percent of grievance filers.

Debt collection in finance is starting to be disrupted by artificial intelligence due to the availability of massive amounts of historical records of customers for banks and other financial institutions. Most AI applications that have real-world business significance for debt collection today seem to be in personalizing communications to customers and identifying clusters of similar debtor profiles.

From our research we have segmented the AI applications for debt collection into the following broad segments:

  • Driving Additional Messaging Campaigns
  • Customer Service (Debtor) Personalization
  • Debt Management Service

We delve further into each of these applications and aim to coax out the need-to-know factors for business leaders regarding AI usage for debt collection.

Driving Additional Messaging Campaigns

Tailoring interactions to debtor habits could be possible with AI today. Virtual assistants are starting to be deployed through channels in which collections agencies can reach out to debtors through email SMS, and outbound dialing, allowing organizations to increase the number of individuals that they’re able to contact on a daily basis.

TrueAccord

TrueAccord was founded in 2013 in San Francisco and claims to be offering an AI-driven debt collection solution. The 97-employee company claims to be offering debt collection solutions to banks, eCommerce and telecom companies.

TrueAccord claims that their decision engine uses machine learning to create digital interaction experiences that are customized for each debtor. The company claims its platform can create an interaction model for each debtor.

TrueAccord claims this model provides banks with the best possible channel and time to reach out to existing and new debtors which might eventually result in better debt revenue collections.

The company says more than 1.5 million debtors have already been modeled using their platform. Based on these existing debtor profiles, their software claims to predict an individual’s response time, schedule, best communication channel, and type of content that they’ll respond to.

TrueAccord adds that its decision engine can automatically select the appropriate pre-approved messages from banks to deliver to debtors. The software also tracks, in real time, the action events from the debtor, such as interaction with call centers, or email opens, link clicks and browsing patterns on TrueAccord assets. The software then sends this data to employees at debt collecting agencies so they can plan the ideal style and time of their next message.

What channel the next message should likely https://goo.gl/gGHvYg

Financial institutions to publish bank-specific cyber security policies

Security guidelines to protect consumers and create a safer environment for online and e-payments products.

The Governor of the Bank of Ghana Dr Ernest Addison, who announced this on Wednesday, said the Financial Institutions would also be required to implement an integrated approach by adopting enterprise-wide frameworks of cyber risk management in line with business objectives.

Dr Addison said this in a speech read on his behalf at the first summit on digital banking and cyber security organised by Standard Chartered Bank.

The summit brings together cyber security experts to share experiences and examine critical issues on digital banking and its associated cyber security risks and how to counter cyber threats in the industry.

Dr Addison said the Central Bank would continue to exercise firm oversight of the payment system, monitor risks associated with digital innovation and develop appropriate regulatory responses without stifling innovation.

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He said while digitization of banking operations had engineered innovative financial products and expanded the scope of financial services alongside improved payments and settlement systems, the growth of technology-driven electronic payments are also associated with cyber related risks such as insecure card data systems and identity theft.

 

It is in this direction that the Bank has prepared a banking sector Cyber and Information Security guidelines to protect consumers and create a safer environment for online and e-payments products.

Among others, the guidelines seek to create a secure environment for transactions within the cyberspace and guarantee trust and confidence in ICT systems.It also provides an assurance framework for the design of security policies in compliance to global security standards and best practices by way of cyber and information security assessments, and protect banks, customers and clients against the potentially devastating consequences of cyber-attacks.

Dr Addison said an integrated approach to cyber security management would support financial institutions achieve both business and security focused objectives, as well as regulatory compliance in an efficient and effective way.

However, he said, regulatory compliance by itself is not cyber security; adding that the onus lies on banks to examine the state of their security systems, identify gaps and design appropriate mechanisms to counter possible cyber threats.“Today’s world is completely different from a decade ago as changes in information and communication technology increase exponentially. Consequently, financial institutions need to undertake cyber security-related due diligence and assessments, identify proper detective controls, and enforce third party and insider risk programmes,” he said.

Business, technology, internet and networking concept. Young bus

Mrs Mansa Nettey, Chief Executive Officer Standard Chartered Bank Ghana, said advances in technology had ushered in new challenges and threats, including cybercrime.“All organisations, which have adopted digitisation, increasingly have to deal with these threats which are becoming sophisticated. What is even more alarming is that the rate of advancement seems to have outpaced developments in cyber security,” she said.

She said it was unfortunate that regulation of cyber security was not harmonised and was not developing as fast, leading individual organisations to try their own solutions to cyber threats. Continued here the remaining article  http://snip.ly/qbja8

Hinduja Leyland Finance looks to revive IPO plan

Hinduja Leyland Finance, however, deferred its plans to go public despite receiving the markets regulator’s approval.

Hinduja Leyland Finance, the commercial vehicle financing unit of truck maker Ashok Leyland Ltd, is looking to revive its plan for an initial public offering (IPO), two people aware of the development said.

The vehicle financier, which first filed its draft red herring prospectus with the Securities and Exchange Board of India (Sebi) in March 2016, planned to raise Rs500 crore of primary capital, according to the draft share sale documents. Investor Everstone Capital also planned to sell a part of its stake through the IPO.

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Hinduja Leyland Finance, however, deferred its plans to go public despite receiving the markets regulator’s approval.

“Owing to the uncertainty in the economy on account of demonetisation, the IPO slated for Q3 last year was postponed,” the company had said in July 2017.

“The company is relooking at the IPO. They are likely to go for the share sale within this calendar year,” said one of the two people cited above, requesting anonymity as he is not authorized to speak to reporters.

The company could look at refiling its draft IPO papers by the end of the current quarter, he said. “They can receive a better valuation in the market today than what they would have received the last time as markets are better and they have also considerably grown their loan book in the last two years,” he added.

The revival of the IPO will also provide an exit route for Everstone Capital, which had invested Rs200 crore in the company in 2013, said the second person cited above, also requesting anonymity.

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How the Future of Finance Gives You Total Control

People latched onto this new way of transacting and now it is one of the biggest modes of payment.

In the world of commerce, internet is king as it never sleeps and continues to take transactions long after you and I have laid to rest for the night. With the evolution of finance and online transactions the internet world has taken large steps to make it easier for the consumer and investor to feel more safe and secure with the funds which are being processed.

Remember when Paypal came on the scene? “E-commerce”? It was still like a toddler – wobbling across the room and making the grown-ups feel just a little nervous. Now it’s just commerce. People latched onto this new way of transacting and now it is one of the biggest modes of payment.

Future

Like Paypal, cryptocurrency has big potential. In 2009, Bitcoin launched onto this transactional scene and today, hot on its heels, enters Zen Protocol, a blockchain which is built for finance and completely erases the need for bankers and brokers.

What does this mean for you as a consumer or financial investor, and how does Zen Protocol make a good product even greater? I’m glad you asked. Let me give you the three tips why ZP is one of the hottest reasons you should get involved.

#1 – Safety and Security are Key

When you press the “BUY” button on your favorite clothing line do you pause and hope your financial information won’t be stolen?

I would wager the answer to that question is a “No”. You trust them. You’ve purchased from them before or know someone who has. Besides, their site has that little “s” at the beginning of the URL.

All joking aside, when it comes to cryptocurrency, security and safety is no joke with these guys. You may or may not have heard, but a few weeks ago over $150 million were permanently frozen on the Ethereum blockchain by what seems to have been a mistake. The cause: an Ethereum contract called “Parity multisig”, used by numerous individuals and organizations to store their funds, contained a simple bug.

Believe it or not, this was the second critical bug for this contract. Back in May, when the first flaw was discovered, some “white hat” hackers saved most of the tokens and returned them to their owners. Not this time.

Zen Protocol takes steps to solve the security and safety issue by making it easy to ensure the code actually works for you. It works with a language designed to prove what contracts do – a method called “formal verification”. It also makes simple transactions – like multisig – easy to do, without using special contracts.

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Shockingly few Americans are putting money in a 401k

Both types of accounts share the same maximum contribution and investment options.

There’s a lot of hoopla surrounding President Trump’s new tax plan, which is reportedly considering capping pre-tax 401(k) contributions at $2,400 a year , a far cry from the current maximum contribution of $18,000 for 2017, and $18,500 for 2018 .

But the reality is this: Two-thirds of Americans aren’t even saving money in a 401(k) , let alone maxing out their contributions each year.

In fact, according to data from Vanguard, just 4% of people earning below $50,000 a year max out their 401(k) at the current limits, and 11% of people who make between $50,000 and $100,000 do. People making over $100,000 are the most likely to max out their 401(k), perhaps unsurprisingly, with 32% making the highest allowable contribution.In some versions of the rumored tax proposal, additional retirement savings would still be possible, but would be directed to a post-tax Roth 401(k) instead, reports Business Insider’s Lauren Lyons Cole .

Roth 401(k) contributions are deducted from your paycheck, just like traditional 401(k) contributions. Both types of accounts share the same maximum contribution and investment options. The only difference is when you pay taxes.

Saving in a traditional 401(k) is cheaper today because it allows you to postpone paying taxes until you begin taking withdrawals in retirement. That’s one reason financial professionals like the account so much – theoretically, people will put more money into the account if it takes less of their paycheck to do so.

And yet, only 41% of workers are saving in a 401(k) at the 79% of American companies that offer a plan to employees, Bloomberg reported earlier this year.

Roth 401(k) contributions are deducted from your paycheck as well, but the amount is funded with your take-home pay instead. Meaning, for every $1,000 you save for retirement, you’ll have to fork over $200 or so to the IRS $200, depending on your tax bracket .

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