March 2025

Management Accounting

Objectives of Stocktaking

/
Stocktaking is an essential component of inventory management that involves the physical counting and verification of goods in storage. The main objectives of stocktaking are to ensure the accuracy of inventory records, support financial reporting, detect discrepancies, and improve inventory control. Below are the key objectives explained in detail. 1. Verify Physical Inventory Against Records Accuracy Check: Ensure that actual stock on hand matches the quantities recorded in the system, bin cards, or ledgers.… Read more
Management Accounting

Stocktaking

/
Stocktaking is the process of physically counting and verifying the quantity and condition of items held in inventory at a specific point in time. It is a vital control activity that ensures the accuracy of inventory records, supports financial reporting, and identifies discrepancies such as shortages, excesses, or damaged goods. Stocktaking is performed periodically or continuously depending on the inventory system in use. 1. Objectives of Stocktaking Verify Inventory Records: Ensure that physical stock matches the recorded quantities in bin cards, ledgers, or software systems.… Read more
Management Accounting

The Role of Storekeeping in Inventory Management

/
Storekeeping is a cornerstone of effective inventory management. It ensures that materials, tools, and goods are properly received, stored, tracked, and issued, supporting smooth operations and cost efficiency. A competent storekeeping system helps maintain optimal inventory levels, minimizes wastage, and enables accurate financial reporting. Below is a detailed look at how storekeeping contributes to inventory management. 1. Centralized Control of Inventory Accurate Record-Keeping: Storekeeping ensures all material movements—receipts, issues, returns—are documented in bin cards, ledgers, or inventory systems.… Read more
Management Accounting

Key Functions of Storekeeping

/
Storekeeping plays a central role in inventory management by ensuring that all materials, tools, and supplies are properly received, stored, and issued. The effectiveness of a storekeeping system directly influences operational efficiency, cost control, and production continuity. Below are the key functions that define the role of storekeeping in any organization. 1. Receiving Materials Inspection and Verification: Check materials against purchase orders and delivery notes for quantity, quality, and specifications. Documentation: Prepare Goods Received Notes (GRNs) and update inventory records.… Read more
Management Accounting

Objectives of Storekeeping

/
The main objectives of storekeeping revolve around the efficient management, control, and safeguarding of materials and inventory. Proper storekeeping ensures smooth operations in production, service delivery, and cost control. Below are the key goals that guide storekeeping functions across all types of organizations. 1. Ensure Availability of Materials Timely Supply: Make sure required materials and supplies are available when needed by different departments. Support Continuous Operations: Prevent production or service interruptions caused by stock shortages.… Read more
Management Accounting

Storekeeping

/
Storekeeping refers to the process of managing, organizing, and maintaining the materials, tools, equipment, and stock items in a store or warehouse. It is a vital function in manufacturing, retail, and service industries, ensuring that inventory is properly recorded, securely stored, and efficiently issued. Effective storekeeping helps reduce waste, prevent theft, and support uninterrupted production and service delivery. 1. Objectives of Storekeeping Ensure Availability: Keep necessary materials and supplies readily available for departments when required.… Read more
Economics, Taxation

The Gig Economy and Taxation: Challenges in Compliance, Policy, and Equity

/
The rise of the gig economy—characterized by short-term, flexible, and platform-mediated work—has transformed labor markets worldwide. From ride-sharing to freelance platforms, millions of workers now operate outside traditional employment structures. While this model offers flexibility and income opportunities, it presents significant challenges for tax authorities, including compliance enforcement, revenue collection, and policy design. This article explores the implications of the gig economy for tax systems, drawing on empirical data, regulatory responses, and policy innovations across jurisdictions.… Read more
Economics, Taxation

Tax Incentives and Economic Development: A Critical Review of Effectiveness and Efficiency

/
Governments worldwide use tax incentives—such as tax holidays, investment credits, and special economic zones (SEZs)—to attract investment, foster innovation, and stimulate economic development. While such incentives are popular tools in fiscal policy, their effectiveness remains widely debated among economists and policymakers. This article critically examines the theoretical rationale, empirical evidence, and case studies on tax incentives, focusing on their economic impact, fiscal cost, and administrative challenges. Theoretical Foundations of Tax Incentives From a neoclassical perspective, investment decisions are driven by after-tax returns.… Read more
Finance

Shadow Banking and Systemic Risk: Analyzing the Hidden Levers of Global Finance

/
The shadow banking system—comprising financial intermediaries operating outside traditional banking regulation—has emerged as a powerful, yet opaque force in global finance. From money market funds and hedge funds to securitization vehicles and peer-to-peer lending platforms, shadow banking entities provide credit, liquidity, and investment products without being subject to the same capital and liquidity requirements as commercial banks. This article critically explores the rise of shadow banking, its role in financial intermediation, and its implications for systemic risk, monetary policy, and regulatory oversight.… Read more
Economics

Inflation Targeting and Monetary Policy: Evaluating Effectiveness in a Post-Pandemic Economy

/
Inflation targeting has long been the cornerstone of modern central banking. Introduced in the early 1990s, it involves setting explicit inflation rate goals—typically around 2%—to anchor expectations and guide monetary policy. However, the post-COVID-19 global economy has exposed the limitations of this framework amid supply shocks, fiscal-monetary coordination challenges, and geopolitical disruptions. This article critically assesses inflation targeting as a policy regime, drawing on empirical evidence, theoretical models, and central bank case studies.… Read more
Scroll to Top