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)