GODFREY CHEGE, THE ACCOUNTANT

The agency theory attempts to explain the conflicts of interest among corporate constituencies, including those between corporate ‘insiders,’ such as controlling shareholders and top managers, and ‘outsiders,’ such as minority shareholders or creditors. These conflicts all have the character of what economists refer to as ‘agency problems’ or ‘principal-agent’ problems. ‘Agency problem’—in the most general sense of the term—arises whenever the welfare of one party, termed the ‘principal’, depends upon actions taken by another party, termed the ‘agent.’ The problem lies in motivating the agent to act in the principal’s interest rather than simply in the agent’s own interest.

I had difficulties understanding the concept of BALANCING DEDUCTION and BALANCING CHARGE. These were my class notes below. I hope they will help in your case. The rates used refers to Kenya case only. In case of queries, you know how to get me.

The simplest notion of tax incidence (formal incidence) concerns the question of who is assessed to pay a tax. Thus, the formal incidence of an income tax falls on the income earner; the formal incidence of a petrol tax falls on the petrol company. On the other hand, the tax burden is the person or institution that eventually bears the responsibility of paying the tax (who carries the burden created by tax imposition).

Globalization and liberalization has substantially influenced the nature of industrial relations (IR) policies being followed by employers. This has reduced the power of trade unions. Some social scientists caution that severe social tensions will result from acute economic inequality that will result from these policies in the next few decades (Towers, 1997; Szell, 2001). They see a severe weakening of countervailing power in society as well. The frameworks of IR of different organisations in the new environment are being oriented to new business exigencies. Strategic shifts in management's approach to manage IR are noticeable at covert as well as overt levels (Venkata Ratnam, 2001; Saini, 2003). These are resulting in new types of negotiated settlements, which reflect a greater degree of employee cooperation (Venkata Ratnam, 2003).

The following would be some objectives of setting up a good storage system:

Inventory management, or inventory control, is an attempt to balance inventory needs and requirements with the need to minimize costs resulting from obtaining and holding inventory.

Having worked in a supermarket set up, a large building materials store and studying a course in Materials and Stores Management, I know and understand a few concepts regarding inventory management. Here we go.

TRACING THE LABOUR LAW AND RIGHTS MOVEMENT EVOLUTION IN KENYA FROM INDEPENDENCE TO DATE (2014)

How taxes, government expenditure have helped Kenya in achieving the three functions of fiscal policy namely resources allocation function, distribution function and stability of the economy.

A private foreign investment is an investment made by a private individual or a private entity in a foreign country.

I thought I would make a great surgeon, but hey, I never wanted to be near doctors wielding needles! I landed in Accountancy. I am happy here .What about the rest of my Team at Dreamcatcher Productions Ltd? Watch their stories here Dreamcatcher Productions Team At my free time, I visit New Life Home to give a helping hand. I play with the kids, baby sit, feed them and take them to bed. I share my free time with them and it's fun.   On weekends, more so on Saturdays, I try my hands on rally driving and navigation. I am not yet there. I attend Abdul Sidi Rally Academy. It's dangerous, expensive, difficult, but the fun is worth it. Driving and travelling around the country side, away from hustle and bustle of town is my way of renewing my energy away from Excel Sheets and ERPs. Blogging wasn't by thing until I enrolled for a Management Degree Program. During my academic research, I could'nt really get what I wanted. This blog is the place where...

Dividend policy is the policy used by a company to decide how much it will pay out to shareholders in dividends. Part of the profits are kept in the company as retained earnings and the other part is distributed as dividends to shareholders.

  According to Bruton (1998), Import Substitution is substituting the imported goods with the locally produced goods in order to meet the internal demand.

A multinational firm mostly regarded as Multinational Corporations (MNCs) is a firm that views the world as consisting of unique parts and markets to each pat differently.

Regionalism encompasses efforts by a group of nations to enhance their economic, political, social, or cultural interaction. Such efforts can take on different forms, including regional cooperation, market integration, development integration, and regional integration.

In introducing a product in a foreign market, the, marketer must decide whether to use standardization strategy or adapt the product. The following are some factors that would affect choice of product introduction to a foreign market using the two concepts above.

A company can chose to go international due to the following reasons

HOW DOES DOMESTIC MARKETING DIFFER FROM INTERNATIONAL MARKETING?

HOW DOES DOMESTIC MARKETING DIFFER FROM INTERNATIONAL MARKETING?

It is an implied term of the contract between a banker and his customers that the banker will not divulge to third persons, without the consent of the customer express or implied, either the state of the customer’s account, or any of his transactions with the bank, or any information relating to the customer acquired through the keeping of his account, unless the banker is compelled to do so by order of a Court, or the circumstances give rise to a public duty of disclosure, or the protection of the banker’s own interests requires it. The leading authority on this subject is the case of: Tournier v. National Provincial and Union Bank of England . (1924)

EFFICIENT MARKET THEORY AND TESTS Market Efficiency A market is said to be efficient if prices in that market reflect all available information. Market efficiency refers to a condition in which current   stock prices reflect all the publicly available information about a security. 

Export Processing Zones (EPZ) program came into existence in 1990 following the enactment of CAP 517 Laws of Kenya, which also created the Export Processing Zones Authority (EPZA), as the regulatory body. However, while the program was officially adopted in 1990, production activities did not take off effectively until 1993. The introduction of the program follows several studies indicated their viability, thus making Kenya one of the early African countries to adopt EPZ in the 1990s. The factors which favoured establishment of EPZs in Kenya included among others, relatively large and dynamic private sector, a low cost but well trained labour force and relatively good infrastructure.

The film industry is under the Film Department in Ministry of Information, Communication and Technology (ICT). Department of Film Service under ICT regulates and licences all film agents and companies. Film production is regulated by the government, in particular, through two Acts of Parliament: The Films and Stage Plays Act of Parliament Chapter 222 and the Copyright Act of Parliament Chapter 130.

Every individual firm in any market segment has well set goals that it aims to achieve. These goals   may   be   set   by   the   owners   or   shareholders   who   must   collaborate   closely   with   the   agents   whom   they have given   the   responsibility   to manage   the   firm. The agents are basically   the managers who   through   the   agency   theory must   ensure   that   the   firm is meeting its strategic goals. A firm with no set goals or one that doesn’t have good managers is set to fail in its bid to make profit and hence will definitely have to close down. To ensure   that   a   firm meets   its objectives, a   few   considerations   must   be   looked   at.   These could include:

I, Godfrey Chege have so much to write in the areas of finance, accountancy, economics, Kenya taxation and the industry that I love and work for, the Film Industry in Kenya. To share my thoughts with the world, you are most welcome to my blog: Godfrey Chege, The Accountant .