HARON - Basic Concepts of Accounting

14/01/2023

Six (6) Leadership Principles that we can learn from an Eagles

1. Eagles fly Alone and at High Altitudes.
They don't fly with sparrows, ravens, and other small birds.

MEANING; Stay away from narrow-minded people, those that bring you down. Eagle flies with Eagles. Keep good company.

2. Eagles have an Accurate Vision. They have the ability to focus on something as far as 5km away. No matter the obstacles, the eagle will not move his focus from the prey until he grabs it.

MEANING; Have a vision and remain focused no matter what the obstacles and you will succeed.

3. Eagles do not Eat Dead things. They Feed only on Fresh Prey.

MEANING; Do not rely on your past success, keep looking for new frontiers to conquer. Leave your past where it belongs, in the past.

4. Eagles Love the Storm.
When clouds gather, the eagle gets excited, the eagle uses the storms wind to lift itself higher. Once it finds the wind of the storm, the eagle uses the raging storm to lift itself above the clouds. This gives the eagle an opportunity to glide and rest its wings. In the meantime, all the other birds hide in the branches and leaves of the tree.

MEANING; Face your challenges head on knowing that these will make you emerge stronger and better than you were. We can use the storms of life to rise to greater heights. Achievers are not afraid to rise to greater heights. Achievers are not afraid of challenges, rather they relish them and use them profitably.

5. Eagles Prepare for Training;
They remove the feathers and soft grass in the nest so that the young ones get uncomfortable in preparation for flying and eventually flies/ when it becomes unbearable to stay in the nest./

MEANING; Leave your Comfort Zone, there is No Growth there.

6. When the Eagle Grows Old,
His feathers becomes weak and cannot take him as fast and as high as it should. This makes him weak and could make him die. So he retires to a place far away in the mountains. While there, he plucks out the weak feathers on his body and breaks its beaks and claws against the rocks until he is completely bare; a very bloody and painful process. Then he stays in this hiding place until he has grown new feathers, new beaks and claws and then he comes out flying higher than before.

MEANING; We occasionally need to shed off old habit no matter how difficult, things that burden us or add no value to our lives should be let go

16/09/2022

22/12/2021

Accounting cycle

26/11/2021

What is the difference between project and non-project work?

A project can be defined as:

A project consists of a concrete and organized effort motivated by a perceived opportunity when facing a problem, a need, a desire or a source of discomfort (e.g., lack of proper ventilation in a building). It seeks the realization of a unique and innovative deliverable, such as a product, a service, a process, or in some cases, a scientific research. Each project has a beginning and an end, and as such is considered a closed dynamic system. It is developed along the 4 Ps of project management: Plan, Processes, People, and Power (e.g., line of authority). It is bound by the triple constraints that are calendar, costs and norms of quality, each of which can be determined and measured objectively along the project lifecycle. Each project produces some level of formal documentation, the deliverable(s), and some impacts, which can be positive and/or negative.

In other words, a project is something that happens only once, with a clear outcome, defined resources, and timeline.

What we could call “non-project” work is also known as Business As Usual (BAU), which is your regular day to day activity… Although we could start a separate discussion about what is BAU for project managers.

Back to the topic, project work usually has a predefined schedule and expected results (deliverables): you should know when to start, when to stop, what is the desired outcome, and which resources you are allowed to use to make this happen.

The main difference with BAU (where admittedly you could have similar constraints) is the fact that a project is an unique endeavor: the same project is not going to be repeated. Each project is different, and that is the main point.

One illustrative example:

Imagine you’re an accountant, your regular (BAU) work would be posting journal entries, verifying invoices, producing financial reports, etc. This would happen regularly, you would probably be able to set up a monthly / quarterly schedule of what you need to do, and probably plan around this.

All of sudden, you’re involved in a project, for example to merge your current company with another one. This will require you to carry out unique tasks, that would not happen if it weren’t for the desired outcome (the merger), that need to take place in a particular period of time (varies by country, but a merger requires a sequence of steps, that have very precise timelines, so adherence to deadlines is vital), and you have at your disposal (or not!) a team of people and budget to help you deliver the expected outcome (example: your accounting team, external tax and legal advisors, etc).

01/10/2021

Accounting

01/10/2021

Introduction to Accounting

08/07/2021

INTERVIEW QUESTIONS ABOUT CBE
+____________+______________+_________

PERSONAL INTERVIEWS AND REQUIREMENTS:
1. The most and the first thing is CONFIDENCE!
2. Keep your protocol as much as possible.
3. Do not open the door until you get permission to open it(get in!) and when u enter in z room, you must have good facial expression.
4. until z interviewer allows to sit, you must have not sit.
5. when they say welcome, it is better to say thank you! rather than welstay.
6. when they say have a sit, say thank you! and sit after sitting give good eye contact to z interviewer's & follow sensitively who of them will start z interview.
7. Have a Good dressing.
COMMON INTERVIEW QUESTIONS ABOUT BANK
1. What is the difference b/n bank and banking?
2. what is banking?
3. what is bank service and what are the services delivered by cbe ?
4. What are the types of deposits?
5. what are the values, visions and missions of CBE?
6. What does mean world class commercial bank of Ethiopia?
7. what is the objective of CBE?
8. what is the major role and contribution of CBE for individuals and for the over all country's economy?
9. what makes national bank different from commercial bank?
10. what are the major institutions for which the CBE gives service in collaboration with the out side world?
11. Why cbe expands its branches throughout out the country?
12. Why cbe bears interest to depisitors , while the deposit is the liability of the bank?
PERSONAL QUESTIONS
1. introduce your self
2. What is your future plan?
3. what is your weakness and strength?
4. if it happens some quarrel among staff members what will you do on the conflict resolution ?
5. what are your special qualities and talents?
6. what is your motive for your engagement as a candidate in CBE?
7. How much salary do you expect from cbe?
8. Do you have a computer skill and have you take a computer related courses in connection with your field's?
COURSE RELATED QUESTIONS FOR THOSE ACCOUNTING AND FINANCE GRADUATES:
1. What are the types of financial statements? And define them.
2. what is the concept of cash flow statement?
3. what are the GAAP principles? and define three/ four of them.
4. What is the difference b/n withdrawal and expense?
5. what is the d/ce b/n real account and nominal account?
6. What is the d/ce among financial accounting, cost accounting and management accounting?
7. What are the project evaluation techniques and define them?
8. From those project evaluation techniques which technique is the most preferable and why?
9. what are the steps of accounting cycle?
10. What is depreciation?
11. What are the methods of depreciation?
12. Which method is known as accelerated depreciation method?
13. What is bank reconciliation and steps of bank reconciliation?
14. What items are recorded at bank side?
15. What is z d/ce b/n simple interest and compound interest?
16. What is the d/ce b/n accrual and deferral?
17. What is the difference b/n finance and accounting?
18. what are the inventory systems and methods?
19. What is the difference b/n capital expenditure and revenue expenditure?
20. Define the term partnership and corporation with their properties?
21. What is petty cash?

28/06/2021

Bookkeeping and accounting