Why Mind Your Own Company (“MYOC”)?
I am Certified Chartered Accountant by profession, and the main purpose of MINDYOUROWNCOMPANY.NET is to guide a Small Medium Entrepreneur (“SME”) in all parts of the world to grow from a small to a big company indeed. MYOC has been set up for helping a new business owner regard to have an understanding on how to start a business. To understand what are the elements in generating a profitable business. To understand what are the thing that most affected in business such as accounting, auditing, taxation, financial, risk management, corporate governance, corporate planning and etc.
I am understand that the main reason why the company incorporated is solely for profit and survival purposes. Business continuation that the company gains from its profit is important for every business.
Survival of Company
No one Company in this world can survive longer if the company is not making a profit. However, to make sure that the company is making a profit, the company must have a proper management system which consists of :
- An organize Accounting System to manage its daily transaction
- Internal control and monitoring system through Internal Audit
- Minimizing risk by having good Risk Management
- A proper Business Process Management for audit trail and job segregation
- A standard operation procedure for a staff guideline
- Good Employees as company asset managed by Human Resource expert
- Good Marketing people who managed Small Business with a saleable product that meet customer demand.
CPA in the Company
Having expert knowledge of complex accounting rules, however is not my goal for having this website. Therefore, my aims here is to give you the basics, not to make you a CPA. Because every functions in business, including finance, operations, and marketing, uses the numbers generated by the accountants, it is very important to grasp the fundamentals and learn carefully for the successful of a company.