IFMAA

Ecla Africa Consult imeandaa mafunzo kwa wahasibu na wakaguzi ya kuandaa taarifa za fedha kwa kutumia IPSAS (International Public Sector Accounting Standards) reporting framework.

Mafunzo haya ni mahususi kwa wahasibu wote toka kwenye mashirika ya serikali, halimashauri zote, Wizara, Mashirika yasiyo ya serikali, Asasi za kiraia, Taasisi za dini, Vyama vya Ushirika na Mamlaka mbalimbali za Serikali.

Pia mafunzo haya ni mahusisi kwa wakaguzi wote ambao hukagua taarifa za fedha zilizoandaliwa kwa kuzingatia viwango vya IPSAS.

Mafunzo haya ya siku tano yatumuwezesha mshiriki kuweza kuandaa taarifa za fedha (financial statements) ikiwemo statement of financial position, statement of financial performance, statement of changes in net assets, statement of cash flows, statement of budget and actual comparison and the statement of reconciliation.

Pia washiriki wataelewa kwa undani juu ya trial balance na namna bora ya kufanya mapping kati ya trial balance na notes to the financial statements.

Washiriki watajifunza advanced excel features tofauti wakati wa uandaaji wa taarifa za fedha ikiwemo na Pivot Tables, name managers, look up functions, conditions functions, data validation, sum if, sort and filtering.

Mafunzo yatafanyika Gold Crest Hotel, Mwanza. Tar 12-12-2022 hadi 16-12-2022.

Ada ya mafunzo ni Sh 1,000,000 kwa kila mshiriki na malipo yafanyike kwenye account yetu ya CRDB Kijitonyama Branch kwenye account number 0150554143800.
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ECLA AFRICA CONSULT will conduct a Practical Training on Preparation of financial statements in Compliance with International Public Sector Accounting Standard (IPSAS) at Gold Crest Hotel, Mwanza. from 12th December to 16th December 2022. The training shall include Advanced Excel Training applicable on Financial Statements Preparation.
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This is a special training were by participants practically prepare the financial statements step by step with the aid of advanced excel techniques which includes the use of the following tools
● Data validation
● Name manager
● Sum if functions
● Look up functions
● If functions
● Pivot tables
● And other advanced excel features
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Accountants working with the NGOs and Faith Based Organisations are highly encouraged to attend as IPSAS is a mandatory reporting framework effectively from 01 July 2021.
Training fee is TZS 1,000,000, Make your payment now through;
Account Name: ECLA AFRICA CONSULT
CRDB Account Number: 0150554143800
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The participants are required to carry their laptops to be utilized during the training where by each participant shall prepare the financial statements from the trial balance provided and follow the step by step instruction from day 1 the theoretical part to day 5 when the financial statements components of
● Statement of financial performance
● Statement of financial position
● Statement of changes in net assets
● Statement of cash flows
● Statement of comparison between actual and budgeted amounts
● Notes to financial statements are fully prepared by all the participants.
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ECLA AFRICA CONSULT,
The Second Eye.

Katika mwendelezo wa matukio wakati wa mafunzo kwa vitendo yaliyofikia tamati hapo ijumaa ya tar 27, mafunzo yalilenga kujenga uwezo wa uaandaaji wa taarifa za kifedha kwa wahasibu wa mashirika ya uma, kidini na asasi zisizo za kiserikali Karibu sana. Happy Sunday #happysunday #tanzania #eclaafrica #milladayoupdates #dodoma #wasafi #IPSAS #ipsas #IFRS

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There are four key personal traits that have attracted the attention of the psychologist, as outlined by Amit, Glostein and Muller (1993). These traits are the first four ones that follow and are linked to the entrepreneur in a way that entrepreneurial activity can be explained, along with the choice to bear risk. Since the list of personal characteristics that have been looked into by academics is much longer; further elements of the psychological approach to entrepreneurship are listed below.

1.2.1 The need for achievement
In 1961 David McClelland presented one of the first systematic approaches towards understanding the entrepreneurial personality. In his work he attempted to provide an entrepreneurial profile; the same thing that most psychologists tried to produce. So, in his seminal work McClelland introduced the ‘business heroes’, entrepreneurs that inspire younger generations and promote the essentiality of entrepreneurial activity. In this direction, he identified the key characteristic of the entrepreneur to be the ‘need for achievement’, rather than the desire to make money. He labelled this need for achievement as “n-Ach” and derived a tool with which one can measure it. He argued that societies with a higher measure of n-Ach on the average produce more active entrepreneurs – and, thus, faster economic growth – than societies with lower n-Ach on the average. People with high scores of n-Ach will seek independence and will pursuit more difficult tasks to undertake. Sources of higher n-Ach include:
Parents who encouraged independence in childhood.
Praise and rewards for success.
Association of achievement with positive feelings.

So, according to McClelland, the most satisfying thing for the entrepreneur is the recognition of the success, and not the success parse. He also introduced two other measures, n-Aff (for ‘Need for Affiliation’) and n-Pow (for ‘Need for Power’), which have further contributed to the understanding of human action and interaction. In general, apart from being high achievers, McClelland described entrepreneurs as individuals that are inclined to:
be proactive and committed to others,
take personal responsibility for their decisions,
prefer decisions with moderate amount of risk,
crave feedback on their performance, and
dislike repetition and routine.

1.2.2 Internal Locus of Control
Another psychological view of the entrepreneur suggests that individuals that choose entrepreneurship over paid work have the innate belief that their performance is a result of their own actions, rather than other peoples’ activities or external factors. This is called in psychology ‘internal locus of control’ – meaning that the centre of control lies inside the person, rather in someone else’s or fates hands. Therefore, it has been argued that people with an internal locus of control will choose self-employment over
dependent employment. Rotter in 1982 derived a tool to determine the location of an individual’s locus of control. This metric scale helped in the direction of empirical tests regarding this theory. However, different studies using the Rotter Scale give us differentiated results, and the internal locus of control theory is therefore considered to be controversial.
1.2.3 Risk Taking Propensity
Entrepreneurs are considered to be individuals with less risk aversion than the ones that choose employment. The key element of this entrepreneurial trait is the difference between the attitude towards risk and the actual or perceived level of risk. So, entrepreneurial behavior is directed by both the individual’s attitude towards risk taking and his or her understanding of the complex business environment.

1.2.4 Tolerance of Ambiguity
Furthermore, Entrepreneurs are described by scholars – such as Timmons in 1976 – as individuals that, compared to others, can better handle complex and unstable working environments. This means, that people who chose self-employment over paid employment, are comfortable in venturing within unstable and dynamic business circumstances.

INCOME EFFECTS OF ALTERNATIVE COST ACCUMULATION SYSTEM
REVIEW QUESTIONS.

QUESTION. 1.
The following cost data is given for a product of Moshi and Co.ltd;
Per Unit $
Selling price 10
Variable cost 6
Fixed cost 2
Normal production 26000 Units
The following additional data are given for the four consecutive periods;

Items Period I units Period II Units Period III Units Period IV Units Total Units
Opening stock - - 6000 2000 -
Production 26000 30000 24000 30000 110000
Sales 26000 24000 28000 32000 110000
Closing stocks - 6000 2000 - -
Required
a) Prepare a statement showing the profit for different periods under marginal costing method and absorption method.
b) Explain reasons for any differences.

Question 2.
Kuku & Company produces a single article. Following cost data is given about its product-
Selling price per unit $ 20
Marginal cost per unit $ 12
Fixed cost per annum $ 800
Calculate: -
a. P/V ratio
b. Break-even sales.
c. sales to earn a profit of $ 1,000,
d. profit at sales of $ 6,000
e. new break-even sales, if sales price is reduced by 10%.
Question 3
The following cost data for products X, Y and Z are given;

Products Sales $ Variable cost $ Fixed cost $
X 15000 3000 -
Y 15000 10500 -
Z 7500 9000 -
Total 37500 22500 10000
Prepare a profit graph for products X, Y and Z.
Question 4
A company manufactures a single product having a marginal cost of $ 0.75 per unit. Fixed cost is $ 45,000 per annum. The market is such that up to 40000 units can be sold at a price of $ 1.5 per unit, but any additional sale must be made at $ 1.oo per unit. Company has a planned profit of $ 25000. How many units must be made and sold?

Question 5
Maria runs a wine club. She buys six different types of wine in cases of 12 each and sells the wine in cases of six, each case containing one bottle of each type.

Purchase cost per cost of 12; $
Value 18
Bard 18
Little 18.6
Nestle 21
Beech 20
Pie 24

The selling price per case of (6) six 12

Variable distribution cost per case 0.5
Annual Fixed costs:
Storage 2000
Wages 1000
Consider each Question independently:
(a)What is the annual break pointing sales revenue and in units?
(b) If 3800 cases were sold in the year what would Maria’ profit be?
(C)Maria thinks that by spending $ 200 per month on advertising, she can achieve annual sales of 5000 cases. What would her profit be?
(d) The wages was paid to assistant, Barbara, who sells the wine. Barbara offers to forgo her salary in exchange for $ 0.5 commission for every case sold. If Maria accepts the offer, what would be the annual break even in sales and in units?
(e) Maria’s target profit is $ 6000.How many cases be sold to achieve this figure: (i) If Barbara receives her $1000 salary? (ii) If Barbara is paid by commission?
( f) What level of sales produces a profit figure which is the same whether Barbara is paid by salary or by commission?

Quiz ten Questions True or False
1. Absorption costing method provides information, which is relevant for decision-making.
2. Variable costs is always relevant in decision making
3. Absorption costing can be used for profit planning, cost control, make or buy decision, and optimizing product mix.
4. Key limiting factor is the factor that must be considered first it effects in the analysis.
5. A fixed cost is always irrelevant costs.
6. Marginal costing approach is only affected by sales volume.
7. Volume of sales/production affect breakeven point
8. The profit under absorption costing should be increased with over absorbed fixed overhead be comparison with profit as per marginal costing.
9. ABC is better than the traditional approach,
10. A fixed cost affects contribution margin.