Project office

 

Thats us working on the master thesis at the new Mannheim Business School facilities at the Dalberg Platz, N2.

Networking on Accounting through the WBS intranet

I just followed a discussion on WBS' intranet and wanted to share one piece of advice by my friend Singean. The intranet platform at WBS is, for some reason, the one which students use more effectively. The intranet at Queen's was high quality too and the one at MBS is very functional, although old fashioned (they are changing that, though). Maybe it is because of the big number of Distance Learning students who use the intranet as their main source of interaction. In any case, at WBS the contact between the different master courses is much stronger than at the other schools.
But back to accounting, I am publishing the question which started the discussion and one of the answers to it. I hope that the authors don't mind.

Greetings Everyone,

I was looking for a bit of advice and thought that I would try to reach out to the accountants out there ...

I am doing some consutancy for a small business that has a very healthy turnover and some fairly big clients - unfortunately they have no administration in place and there seems to be a fair amount of loss through the lack of control.

I was wondering if any of you can spare a moment to give some advice about what would be the best accounting package to put them on -

I have been looking at Peach Tree and Quick Books - as it turns out though quick books apparently fails to handle currencies ... has anyone got any suggestions? Please bear in mind I am not an accountant and I may end up having to set the whole thing on my own ..

The company has to :

1 Invoice Clients
2. Pay wages
3. Handle Multiple currencies as the TZ shilling is linked to the dollar and they are interchangeable -
4. Buy/sell inventory

- they are a services company

Thanks in advance

Gian

And my friend Singean's response:

Saw this thread and thought I would throw in my full penny worth too. It sounds to me like you are being pushed back on in a very classic way. Be very careful with any claims that "everything will be okay or nothing can be done until the new software comes". This is a very common excuse for poor performance which conveniently masks any need to improve things in the present. Software is just a tool not a panacea.

The start of controlling is to make sure you sit with people and make sure what they are doing actually makes sense, you don't need to be an accountant or have fancy software to do that. If you are reasonably bright and you still can't understand it then probably something is wrong. You can begin this process now without the software being in place.

Just go and sit at peoples desks and have people explain to you what they do, follow a couple of specific transactions all the way through the system. Tell tale things to look out for is if ever you hear the following: someone says they do something "because it's just like that", or "for historic reasons', or they do it "unofficially" then you need to circle back on the point later as there is a very good chance you have a financial leakage just at that point. I suggest you don't jump on the first instance of suspected leakage you see but instead quietly take a note of it because otherwise you will never get to see what is happening further downstream.

Don't expect to win many buddies doing this as unfortunately you may expect significant resistance and avoidance but if you are patient you will gradually regain control of the business. If you do not regain control first then you can buy the best software in the world and it still won't help you.

Good luck with it.

Singean
FTMBA 08

Starting-up

At Queen's University I wrote a lot about start-ups. I decided that I would write start-up like this, with the dash. Not startup nor start up. Start-up.
And now I am involved with start-ups again. First for my master thesis at the Heraeus Corporate Development department. We are developing a technology scouting strategy and are naturally looking at start-ups. I am using Yahoo! Pipes and Twitter for a part of the project, let's see if it works.
Then I was contacted by a start-up looking for managerial talent to invite as founding members. It is in the area of social networks, which I find very interesting.
And today I read the following article at VentureHacks which deals with the situation above, so a link is appropriate.

I have a job offer at a startup, am I getting a good deal? Part 1

And all Mannheim MBAs are invited for lunch at EO at 12:30 today.


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Internet and cell phones in Mannheim

Sandeep, who is planning to start an MBA here in Mannheim soon, sent me this question which I thought I wuld answer on the blog.

From: sandeep jain
Date: Mon, Jul 14, 2008 at 21:24

Hi Fernando

How are you doing?

I am sure you must be at a half way to complete your year end company project.

Fernando had a few questions regarding the Internat and mobile technology in Germany.
How about internet at home (provided by Mannheim) is it free of cost or payable. Is it wireless or we have to arrange for the internet on our own?
Mobile technology. Which is the technology used in germany GSM or CDMA. Are mobile services expensive there? Is it a viable option to use for connecting with family in emergencies?

Thank you .......Sandeep Jain

If you are staying at one of the apartments organized by the Mannheim Business School, like I am, then broadband internet is included. In my case, I have a LAN socket and a very long cable in my apartment, which works very well. In other buildings I hear they have wireless LAN connection. So no worries there.
Furthermore, you have wireless LAN connection all over Campus, either through the university's WLAN or through the b-school's own. Some places in Mannheim also offer free WLAN, like the Star coffee shop on N7.

Germany is GSM country, which is very practical, as you can change operators by simply changing SIM cards, as long as your cell phone is not locked. You can either buy a contract (usually 2 years, gets you a free handset for a fixed monthly price plus extra expenses. You might be able to cancel the contract uppon departing Germany, but you have to make sure of that before signing) or, as I prefer, pay as you go or pre-paid plans.
I am a happy customer of Symio, a pre-paid provider based on the internet. Their plans are simple and the prices are good, so far I am happy, even though there was a great deal of confusion when I decided to change from GPRS SIM card to a UMTS one.
This means, of course, that I use my cell phone for internet on the go: maps, e-mail, twitter, reading, news, train schedules, IM, etc. Works pretty well on my Nokia E61 and the Symio internet price is unbeatable: 0,24€ per MB. That means that my weekly internet bills are usually below 2€, even with daily internet use.
Call prices are 0,09€ per minute any number in Germany. To Symio number it is even cheaper, but I have no idea who of my friends also use Symio. And SMS is also 9 cents.
For international calls, I use Skype Out. Other alternatives are the several call shops available downtown and near the train station. rAtes are just cents per minute, if I am not mistaken.
Now let me put a link in this post and continue our project work.

Heraeus

Yesterday we started the last leg of the MBA course: the company project and dissertation thesis. I am working with two colleagues or, better said, friedns. I am happy with the choice of project and, more importantly, the choice of teams.
It will be strange to take charge of the next two months after having had our schedules taken care of by our great program manager, Susann. But it is time. Classes were great (some not that great, unfortunately), but I was looking forward to the end of the MBA. I feel that I have already gotten all of what I expected to get in the course and want to move on. The project will be a nice extra bonus, for sure.
I will talk about Heraeus and a bit about the project later on, but I am excited to be able to get to know this company from the inside. The products they produce are all very technical, but I felt like a child in their exhibition yesterday in Hanau, so thrilled I was looking at precious metals, quarz glass, miniature and giant sensors, special lamps, dental implants and titanium pacemaker casings.
It is good to be starting once more.

Until the end of the MBA