Importance of Business Planning

Importance of Business Planning By Dominic Shum Business planning is many things to various people and although elements of business planning appears in most management literature it has rarely been accorded the status of a stand alone management field. Some of the reasons why people do business planning:- Trying to get a bank loan to Read More


Financial Statements ; What are Assets and Liabilities

A Financial Literacy Article by Dominic Shum, DRC Services Most of us have assets, some have less and some have more. Our assets includes everything that we own including the air around us, the chair we are sitting on and our mental or physical capabilities. However, do you know that when you see listings of Read More

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Why do we need Budgets?

Businesses carry out the budgeting exercise yearly to ensure that they have a set of performance data that they can use as a guide to operations in the coming year. However, in an article by PwC (FSI, 2010), they claimed that “Executives and other stakeholders have long vilified the budgeting and planning processes“. As a financial executive doing Read More