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About NHYIRA PREMIUM
Nhyira Premium is a Trained and Certified Lecturer and a Published Author of sixteen (16) Pragmatic Business Books of the Institute of Chartered Accountant Ghana’s syllabus (some of these include; Taxation and Fiscal Policy, Public Sector Accounting and Finance, Corporate Reporting, Advanced Audit and Assurance, Advanced Financial Management and Management Accounting) and the recently published book; Strategic Case Study and Advanced Taxation, all these are sold globally through Amazon and the Creator of NHYIRAPREMIUMUNIVERSITY.COM.
He is also the Keynote Lecturer at Premium Education Hub where he lectures ACCA – UK & ICA -G professional qualification level three subjects.
Nhyira hosts a daily podcast on various podcast platforms, premiere videos daily on Facebook and YouTube as well as writing articles for individual and rising business leaders across the globe on his websites.
Many of his clients are seeing a positive return on their investments in days, not months.
But if you think your career or business might benefit from one – on – one interaction with Nhyira, visit: https://nhyirapremiumuniversity.com/contact/
Connect with NHYIRA PREMIUM
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Facebook Business Page: www.facebook.com/nhyirapremiumofficial
Website for business leaders: www.nhyirapremiumuniversity.com
Facebook Group for Business Leaders: https://www.facebook.com/groups/727480184117450/
Titles By NHYIRA PREMIUM
It is in this regard that the Institute has revised its syllabus to reflect the key changes required for the professional accountant in today’s world. The subject of focus here is the Public Sector Accounting and Finance.
However, there has always been a challenge that the institute is yet to solve which is the availability of quality study text for the subject. To be specific, as, at the time of this publication, the institute has not realized any study text that will enable students to understand the subject and prepare adequately for the exam. This means students find it difficult studying the subject and being in the position to pass the examination.
It is for these reasons that I am publishing this new book based on the revised syllabus and strictly written for students preparing for the ICAG’s professional examination in Public Sector Accounting and Finance.
This book provides you with an understanding of the various concepts and principles of the subject and you will also get access to the summarized International Public Sector Accounting Standards (IPSASs) eBook to assist you to prepare for the examination.
Part 1 – Public Financial Management:
This focuses on the various key principles in Public Financial Management based on the Public Financial Management Act 2016 (Act 921), Administrative Regulations, the 1992 Constitution of the Republic of Ghana, and other Acts of Parliament. The topics covered in this part of the book include among other things the following: Roles/ Responsibilities of Key Public Officers and Institutions, Public Expenditure and Financial Accountability (PEFA) Framework, Public Sector Budgeting, and Accounting Basis & Accounting Approaches.
Part 2 – Public Procurement:
This is one of the key topics in Public Financial Management. This is because, each government expenditure must achieve Value for Money which can only be possible through the procurement of goods, works, and services in accordance with the Public Procurement Act (Amended) 2016, Act 914. These five (5) key areas you must focus; the Principles of Public Procurement, Methods of Procurement, Procedures involved in Competitive Tendering of goods, works, and services, the role of Key Public Officers and Institutions in Public Procurement, and the Procedures involved in the Disposal of Government Stores.
Part 3 – Public-Private Partnership (PPP):
The objective of this topic in the syllabus is to introduce students to the arrangements between the Government of Ghana and Private Sector Investors or entities to provide goods and services which would have been provided solely by the government. This is important since it assists the government to provide more infrastructure facilities and increase economic growth within the shortest possible time. The main issues discussed here include Principles of PPP, Objectives of PPP, Challenges of PPP arrangements, and Types of PPP.
Part 4 – Financial Reporting in the Public Sector:
This part of the manual is among other things the determiner for you everyone desiring to pass the examination. The reason is that you are guaranteed a minimum of forty (40) marks questions in the examination, all other things being equal. There are three (3) key areas of focus that I covered here; International Public Sector Accounting Standards (IPSASs), Preparation and presentation of Financial Statements for public entities, and Evaluation of Financial Statements (using Common Size Analysis, Ratio Analysis & Budget Variance Analysis).
Part 5 – Practice Questions & Answers:
This final part is where we bring all the main parts together. I prudently selected about twenty (20) ICAG past questions covering key topics such as Budgeting in the Public Sector, IPSASs, Preparation and presentation of Financial Statements of the Consolidated Fund and of other Spending Units (Ministries, Departments, and Agencies (MDAs) & Metropolitan Municipal and District Assemblies (MMDAs)), and Evaluation of Financial Statements of public entities.
The Global debt crisis, political risks, economic instability, among others as well as the pursuit of Managers of companies to achieve the major objective as the maximisation of the wealth of shareholders as well as meeting the objectives of other stakeholders has led to Businesses across the globe to become circumspect on the four major decisions that are made in the day-to-day management of these companies.
The financial manager or Chief Financial Officer (CFO) is directly responsible for these decisions which determine whether the company is achieving its major objectives as well as sustaining the environment.
These four major decisions that managers of various companies across the globe make in consultation with the Chief Financial Officer (CFO) decide whether the company becomes successful or not.
This book is for all business students pursuing a course in Finance and Accounting. In this book, you will learn the major issues in the Finance industry such as, Business Valuation, International Trade, Working Capital Management, Cost of Capital, Investment Appraisal and other major topics in finance.
Becoming a Business Leader and a Professional Accountant in the 21st Century has become a key field of study which requires people not only with the Certification but also with pragmatic experiences to stay within the Corporate World and become the best in such a Competitive industry. But we here at Premium Education Hub (PEC) belief that the subject has to be taught and discussed in an orderly manner so as to enable students and practitioners well educated. This is why Premium Education Hub took the bold step to put together a Team of Professional Educators and Lecturers with many years of experience and headed by Nhyira Premium to write a book that presents topics and concepts on a step – by- step approach with educating the student in a Professional psyche in mind.
In this book, the Lecturer covered the key International Financial Reporting Standards and the International Accounting Standards as well as the preparation of all complex Financial Statements of multinational companies.
This, however, has a key challenge to students which is due to their inability to understand the subject and pass the exam which is as a result of the unavailability of well-structured and self – explanatory Study Text even by the Institute as at the time of this publication. This has led to students buying some study manuals that were not written specifically for the Institute’s examination, thereby leading to the high failure rate and lack of in-depth understanding by students of the subject.
It is in the light of these and many others that I have written this Study Text, ADVANCE TAXATION under the auspices of the Executive Board at the Nhyira Premium Organisations to provide not just a manual based strictly on the ICAG’s professional qualification syllabus but also to give clarity and simplified material on taxation in Ghana.
The subject, Taxation in Ghana keeps changing due to the Government’s objectives of maximising tax revenue since this is the highest source of Government revenue in Public Financial Management.
The Government in recent years has taken actions to educate the populace on the importance of tax payment as well as legal actions against businesses or individuals who have invaded taxes. Additionally, the Government has provided tax amnesty to individuals and businesses to assist them file and pay taxes without any penalties.
In this publication, I took time to explains in more details the following:
1. Ghana Tax System
2. Tax Administration in Ghana
3. Income Tax Liabilities (Individuals and Partnership)
4. Corporate Tax Liabilities (including Capital Allowance)
5. Chargeable Gains
6. Value Added Tax (including the treatment of National Health Insurance Levy & Ghana Education Trust Fund Levy)
7. Withholding Tax Administration
8. Optimal Tax Outcomes (including Standard Tax Planning Measures for various businesses & sectors)
9. Tax for Single Companies and Groups
10. Communications (including Professional Conducts of Tax Advisors)
You hold in your hands the Masterpiece that will provide you with the understanding you need to become a Business Leader.
I am still on the journey of researching and fine-tuning the art of teaching these subjects to assist all students across the globe. However, it has been challenging since I have to read different books, publications, articles, blogs, and thousands of online videos (both free and paid) to prepare lecture notes for my students and also enable me to teach these subjects based on my thought process.
To address this challenge for me as well as my students, I decided to author this book.
With the support of my Executive Assistant, Joycelyn I believe this book is the Ultimate Guide for all rising Business Leaders studying for the Institute of Chartered Accountants, Ghana (ICAG), Association of Certified Chartered Accountants, United Kingdom (ACCA – UK), Institute of Chartered Accountants, England and Wales (ICAEW), and the Institute of Chartered Accountants, Nigeria (ICAN)’s professional qualification examination.
I can say this because of the detailed scope and depth of explanations, practice questions, and most importantly the step–by–step arrangement of the topics.
The title of the book is the BUSINESS LEADERS’ ENCHIRIDION because this is the Handbook you need as a student preparing for your Financial Reporting examination.
The book has been divided into FIVE major parts as follows:
PART 1: REGULATORY, LEGAL, ETHICAL & CONCEPTUAL FRAMEWORK FOR FINANCIAL REPORTING
PART 2: APPLICATION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS(IFRSs)
PART 3: EVALUATION OF FINANCIAL STATEMENTS
PART 4: BUSINESS COMBINATION
PART 5: SINGLE ENTITY STATEMENTS
As you study this book under my mentorship for your examination either by enrolling in our online course (on www.nhyirapremium.com) or through my YouTube channel, I hope you study smart and wish you the absolute best in your examination.
Remember, passing the ICAG examination is now your responsibility with this book in your hand. May the heavens smile on our efforts and may we all achieve our goals as soon as humanly possible.
I love you!!!!
On the other hand, there are other companies that have lasted for decades and continue to be competitive even in this highly competitive market environment today. The question that one would ask is this: “What are the causes on these corporate failures?”
The ability of Business Leaders to identify, assess and strategically make decisions to enable the company gain competitive advantage, is the Critical Success Factor for organisations in today’s marketplace.
Meanwhile, one key factor driving these changes is technology and Information Systems. The processes of business operations, customer preference, marketing and governance have all been subject to enormous change due to the internet and social media.
It is in the light of all these and many more that the subject of this book STRATEGIC CASE STUDY bridges the gaps and teaches how organisations can become competitive designing strategies, implementing strategies, how technology and information affects businesses as well the importance of Corporate Governance in building transgenerational multinational businesses.
The book is divided into Three Parts with each part focusing on and explaining key Thematic. the division is as follows:
PART ONE: STRATEGY DEVELOPMENT & ORGANISATIONAL STRUCTURE
This part discusses the introduction to the subject and also explain the various models used in the Designing and Implementation of Strategy and Organisational Structure.
Topics discussed in this part include the following:
i. Evaluation of Strategic Objectives
ii. Evaluation of the External and Internal Environments
iii. Applying Key Strategic Models & Strategic Choices
iv. Evaluation and Choosing of Organisational Structure for the delivery of Organisational Strategy.
PART TWO: FINANCIAL PERSPECTIVES FOR IMPLEMENTATION OF ORGANISATIONAL STRATEGY
This segment of the book discusses primarily the various financial considerations that companies when designing and implementing the Corporate Strategy.
Topics discussed include the following:
i. Business Finance
ii. Investment Appraisal Techniques
iii. Working Capital Management
iv. Risk Management
PART THREE: GOOD CORPORATE GOVERNANCE AND INFORMATION SYSTEMS
This final segment discusses the importance of technology and information systems in enabling an organization gain competitive advantage as well as the various discussions on Corporate Governance.
Topics discussed include the following:
i. Impact of Technology & Information Systems on Businesses
ii. Corporate Governance Landscape in Ghana: This is sub – divided into four segments:
The Management Accountant is responsible for various responsibilities and carry out major activities of companies. Among these responsibilities include costing (determination of the cost of an item, activity or an undertaken), budgeting, variance analysis, performance measurement (especially, non – financial performance; which is a very key to the achievement of the objectives of the organization), among others.
As such, the management accountant’s responsibilities has become the pivot of the success of many multinational companies across the globe. Due to this reasons, the demand of the Management Accountant is rising and many institutions across the globe have created the combination of courses that perfectly qualifies each individual to become a professional Management Accountant such as the Chartered Institute of Management Accountants – UK, Association of Certified Chartered Accountants – UK and the Institute of Chartered Accountants – Ghana, among others.
However, materials for studies have been quite complex and many have find the subject rather difficult instead of understanding how technical and easy to understand the subject is. It is this reason that over – burdened me while studying to write a professional examination, to spend time researching, consulting and gathering information to publish a standard study material that bridges the gap between studying, writing the examination as well as in practice.
This book covered the major topical issues that every Management Accountant must understand. Some of which include; the nature of Cost and Management Accounting, Job, Batch and Service Costing, Material, Labour and Overhead Accounting Absorption, Short Term Decisions (Shutdown, Make Or Buy, Limiting Factor Analysis, among others), Target Costing, Throughput Accounting, Budgeting And Standard Costing as well as Performance Management and Investment Appraisal.
This book is certainly a masterpiece for the up and coming Management Accounting.
It is my hope and greatest desire that with this book, you can become a successful Business Leader in the industry and work with the multinational companies across the globe.
I wish you the very best on your journey of becoming a Business Leader.
Apart from taxation, all governments across the globe borrow money to help them achieve their socio -economic objectives which is also geared towards the betterment of the life of the people.
But the big question is this; “How does all these affect individuals, businesses and the economy at large and how does the government carry them out?”
To answer this and many other questions, this books is certainly the Masterpiece to help you understand Public Finance. Major topics covered include:
Income Tax Liabilities of Individuals, Corporate Bodies and Partnership Businesses
Value Added Tax and Customs Excise and Preventive Service (CEPS)
Public Debt and other Fiscal Policy Concepts
Gift Tax and Capital Gain Tax
Standard Tax Planning Measures and other concepts and theories.
It is my hope that this will be a Masterpiece in your library and enable you to understand Public Finance.
It has then become the responsibility of the Professional accountants and business leaders to make an effort and take the subject as serious as other subjects to enhance a rounded knowledge for the next generation managers for the effective and efficient operations of the organisations.
In this book, we discussed the following topics:
Formulation of Strategy
Management, Finance & Financial Perspective
The Board and its responsibility
The Role of Audit
The Role and Threats of the Accountants
Strategic Management Models
It is hoped to be a significant material to the 21st Century Professional Accountant.