VFM Consulting & International Solutions

30/04/2013

Applied Examples for VLOOK UP, really charming and warming excel magics

20/04/2013

THE KNOW HOW ABOUT "IF"

18/04/2013

Basic Understanding about VLOOKUP

16/04/2013

Case Study: Accounts Payable Fraud
The administrator of the school board in a small city had ultimate authority for all items payable from the board’s annual budget. As an administrator, he traveled frequently to education conventions and meetings of administrators in the state capitol and across the country. Although he was an excellent CPA and the day-to-day affairs of the board ran smoothly, his prickly personality did not endear him to the board and made his attempts to get approval for his proposals difficult. Frustrated and increasingly embittered, he saw a way to get back at the board by using his signing authority to approve personal expenditures and write checks to himself. He submitted mileage expenses while using a car leased for
him by the board, and he used the board credit card to put gas in his own car.Other bills submitted and approved by himself were for meals and entertainment on weekends and repairs to his car. After his secretary blew the whistle on him,forensic investigators found that invoices for many transactions did not exist. The administrator was dismissed from his job, but no charges were ever laid.

12/04/2013

Finally Advanced Excel Traning by VFM successfully came to an end. Lots of gratitude to all the participants for providing their valuable feedback and our management team for their immense contribution. We assure everyone, as our name stands for ,"VFM", we will be providing value for money services through the following wings.
1. Business Consultancy
2. Skill Based Training
3. Risk based Audit

Very soon we will be conducting Advanced Excel Training for the second time. Those who are really interested to learn and those despite immense interest who were unable to participate this time are heartily welcomed for participation in the next training. Please enquire at our email address : [email protected] or call at

Khem Raj Panday :977-9849086446
Anil Shrestha :977-9841586355
Sanjay Pradhan :977-9847020870/9813804168
Siddhartha Pokharel :977-9849310104

Please like our page http://www.facebook.com/pages/VFM-Consulting-International-Solutions-Pvt-Ltd/400886256662526 to be in touch with VFM so that we can provide you efficient, effective and economic services delivering quality.


Regards
Sanjay Pradhan
CEO
VFM Consulting and International Solutions Pvt. Ltd.
Buddhanagar-10, Kathmandu

VFM mission is to provide value for money services to clients ensuring efficiency, economy and effectiveness

12/04/2013

Snaps of Advanced Excel Training by VFM(Value For Money)

29/03/2013

With prospensity to provide skill based Training VFM announces ADVANCED EXCEL TRAINING with the view that you can excel your career by joining the training.Please contact at the details provided in the flyer so that we can provide with the detailed syllabus of training. Lets join with us, and we assure u Value for money Advanced Excel Training as our name stands for...To ensure clarity and quality since seats are limited, early registration is highly encouraged.

20/02/2013

Case Study: Accounts Receivable Fraud
The bookkeeper of a small but growing bread company prepared bills to be sent to customers and was responsible for collecting payments. Sales were growing through the acquisition of new customers and increasing sales to existing ones.A surprise internal audit revealed, however, that bank deposits were not as
large as would have been expected considering the rate of sales growth. An examination of customer copies of sales invoices revealed that the amounts being billed were higher than the amounts being recorded in the cash receipts journal for the same transaction. Office copies of the invoices had been altered to reflect the falsified journal entry. The bookkeeper had stolen more than $15,000 over a period of a year before the fraud was discovered. The bookkeeper was dismissed and agreed to repay the money in order to avoid having the matter brought to the attention of the police.

15/02/2013

EXPERIENCES ON MARKETING AUDIT Source: Risk Based Auditing
Let me illustrate this with a real-life example. In my previous life as Head of Internal Audit for a major retailer, we decided to carry out a review of marketing specifically to assess whether or not the organization achieved value for money from its corporate advertising spend, particularly television advertising. I went in to meet with the marketing director and he asked a very reasonable question, ‘What the hell do you know about marketing?’ My response was, ‘Not a great deal, but you do!’
The key point I was making is a crucial one for modern Internal Audit functions, as they move into more and more challenging arenas the less likely they will have expertise in that area of the business but, as Internal Audit’s real expertise is process, then any audit should be able to be completed with confidence.
I therefore explained to the Marketing Director that we were intending to review the process for the measurement and evaluation of marketing spends with a view to assessing its effectiveness. We therefore embarked on a very different type of audit where we went out into our stores and we asked the public what had influenced their purchase, had it been the TV advertising, brochures in magazines or had it been the signage in the stores, and so on.It was apparent that the marketing function had a bewildering array of often-contradictory methods of assessing marketing success. As a result of the audit the measures were simplified and consolidated. One of the unexpected benefits of the audit was that it was clear that customers had often not even noticed the signage in the stores. Our recommendation was that the signage should be removed on a test basis in a number of stores to see if that made any difference to the sales. The recommendation was accepted and tested in ten stores and it was found that sales were not affected at all by the lack of signage. Therefore the signage was cut back significantly from all stores, saving a huge amount of money. Despite the earlier reservations by the marketing personnel we now became quite popular and we were asked to carry out audits of many other key areas of the business.

14/02/2013

About VFM
VFM’s main objective behind its incorporation is the passion to provide value for money services to individual and corporate clients which is really a great need in the context of Nepal. Having an insight into different sectors:
Clients in Nepal are highly ready to pay fines, penalties etc which in presence of proper guidance can be prevented from incurring ultimately minimizing the financial loss to the clients. Corporate Clients are really lacking value based advisory services since they are not well aware of the real value of the proper accounting systems, sales system, purchase system, administration system, integrated risk management system, internal control systems from the start of business.
Education provided or trainings conducted are mostly knowledge based rather than skill based.
Risk can be defined as a prospect of loss or reduced gain that can adversely affect the achievement of an organization’s objectives. When greed overtakes need, it spells trouble. Manifested as bankruptcy in much of the developed world and corruption closer to home, greed has clearly disrupted some major industrialized economies and enhanced the risks of doing business. In today’s world, risks are not few. The reason companies so often fail to systematically manage their key risks is rooted in the way they define the risks they face. Risks are manageable and the answer to untapped business opportunities that lie dormant waiting for risk factors to turn favorable. Particularly, crisis, risk is being inherent in most of the sectors however proper risk management systems are not integrated rather than risk is viewed as a separate component. Risk based audit either internal or external, concurrent audit is the need.
So, to drive these inefficiencies out, VFM stands for providing efficient, economic and effective services to clients.
VFM SERVICES
Business Consultancy
Skill Based Training
Risk Based System and Audit/Concurrent Audit

13/02/2013

1. Background
1.1. About us
VFM Consulting and International Solutions is a one stop shop for range of individual and business services especially specializing in risk management.
VFM is managed by a group of highly qualified and experienced Chartered Certified Accountants spanning various industries including banking and financial institutions, insurance companies, manufacturing, hydropower, cooperatives, education, development( NGOs and INGOs) and other sectors.