The EAFD Editorial Board
CHAIRMAN OF EDITORIAL BOARD
Professor Dr Philip E Dunn (Esk Valley Business School (UK) FEAFD (Hon)
EDITORIAL BOARD MEMBERS
Dr Allen D Lunn (UK) DMan MBA FCMI CMg FAIA FFA MInst AM (Adv Dip) MCIM MAAT FEAFD(HON)
Neil Arnott (UK) BA(hons) CIPFA (Dip) MAAT FEAFD(HON)
Dr Dmitry Firsenko (KZ) FEAFD(HON) Higher Economic School
Aleksandr Borisov (RU) FEAFD(HON) Russian Economic University
Latest articles
Assessment Guide (Accreditation of Prior Learning)
The Accreditation of Prior Learning Scheme is designed to provide formal assessment of understanding of practical Accountancy and Financial Management skills. Standards of Competence. The assessment is based on Standards of Competence designed by the Academy. The Standards are expressed as separate Units and are grouped for each Grade of Membership. The Standards will provide the Academy with a method of assessing and identifying competence in the workplace. Units of Competence Each Unit of Competence is divided into elements which
Accreditation of Prior Learning (APL)
Accreditation of Prior Learning (APL) is widely used in the UK University and College sectors. The Chartered Management Institute (CMI) use the technique when assessing candidates for their premier award Chartered Manager (CMg).A number of other UK Professional Bodies also include it in their assessment models to verify candidate competence in a range of disciplines. Early research took place in the 1960’s and 1970’s in the US where the process is still referred to as ‘prior learning assessment’, In other
Working Capital Control
Working capital is a key element in business success. Successful business is about investing in the right ideas, the right equipment, and the right people. And to invest businesses need capital – either from the owners, from retained profits or from other willing to advance credit or loans. There are two type of capital need: for ‘fixed capital’ to invest in things such as buildings, plant and equipment: and ‘working capital’ principally to pay for stock and to cover the
Target Costing
Much literature cities Japanese companies developing and using target costing; Toyota, Honda and Nissan are such examples. In the US Caterpillar and Chrysler are examples where economic benefit of the technique have been noteworthy. Traditional Pricing Full cost pricing has been the model used by many businesses in the past. Standard and standard costing technique was used to determine a product’s cost of labour and material, overhead was absorbed, a share of selling distribution and administration cost was added to
Zero Base Budgeting
Zero Base/ Priority Base Budgeting is defined in CIMA terminology as: “A method of budgeting whereby all activities are re-evaluated each time a budget is set. Discrete levels of each activity valued and a combination chosen to match funds available.” A further definition is “an operating, planning and budgeting process which requires each manager to justify the entire budget request in detail and shifts burden of proof to each manager to justify why he/she should spend money. This procedure requires
IAS 7 Statement of Cashlows
The notion of cash flow and funds flow has been included in accounting standards for almost three decades. For example in the UK, SSPA 10 (1976), Source and Application of Funds Statement, was an early attempt by standard setters to provide a link between the balance sheet at the start of the accounting period, the profit and loss for the period and the balance sheet at the end of the period. When the Accounting Standards Boards in the UK, took