Saturday, August 16, 2014

ORGANISATION CHART - COMPANY STRUCTURE


The Organisation Chart identifies the positions of every employee in a company from CEO to clerical assistant and determines the hierarchical structure of the organisation. Studies show that
people in the workplace appreciate the organisation chart as an acknowledgement of their individual status and position in the firm and also a tool for aspirational objectives. The work involved is to determine individual positions and grades based on salary, longevity and current status within the firms structure. We will classify individual jobs in relevant Grades and will set out the criteria for each position. Jobs are classified into existing grade/ category structure or hierarchy. Each level in the grade/category structure has a description and associated job titles. To ensure equity in job grading and wage rates, a common set of job
grading standards and instructions are used.

SALARY STRUCTURE

A company’s salary structure is the method of administering its salary philosophy. The two leading types of pay structures are the internal equity method, which uses a tightly constructed grid or matrix to ensure that each job is compensated according to the jobs above and below it in a hierarchy. Then there is market
pricing, where each job in an organization is tied to the prevailing market rate. The main problem when reviewing salaries within an organisation is to not mix the two types of salary philosophy’s and
maintain continuity throughout the process. In our experience salary reviews and grading issues are initially difficult to understand by people but are the backbone of any HR policy and are soon accepted by all employees.

JOB DESCRIPTIONS

A job description provides a list of the general tasks, functions and responsibilities of a specific position within an organisation. It will include to whom the position reports and who reports to them,
specifications such as the qualifications needed by the person in the job, salary range for the position, and any requirement for particular skill sets. It is the basis of recruitment advertising and employment and should be the first document in a potential employees file and attached to the personnel request form. It
includes information that can be used in the organisation chart and the pay structure. It determines the job role and can be the basis of any interview assessment process.

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BUSINESS RESTRUCTURING SERVICES


Challenging economic times inevitably lead to greater risk of companies encountering financial difficulties.
At times of often intense pressure for business leaders, we are able to provide clients with the assurance of dealing with approachable experts with the commercial awareness, practical skills and understanding to help navigate the best course of action.
Experience of business recovery across a wide variety of industries and circumstances enables specialists to provide an early assessment of potential solutions to your problems, whether a sudden reduction in cash flow or an unpaid debt from a major customer.

INNOVATIVE SOLUTIONS TO DIFFICULT PROBLEMS

Winding up a business is very much regarded as a last resort and, wherever possible, we will look to provide advice on rescuing or restructuring a company to help it return to profitability. What can appear to be an intractable situation can often be resolved through a restructuring of the bank and equity finance or rescheduling of debts.
In circumstances where companies are unable to continue within their existing form, advice is provided on the most suitable options available including administration, liquidation and Company Voluntary Arrangements (CVAs).

ASSISTING CREDITORS

When clients are at risk from financial problems affecting a major customer, partner or supplier, specialist staff are able to provide practical advice on the range of options available to recover debts
or protect assets.
Where necessary, advice can be provided on instigating insolvency procedures and clients represented at creditors’ meetings.
The reach of the UHY global network means our firms also have experience of recovering debts in jurisdictions throughout the world.
Our services focus on our clients’ requirements with a good understanding of their needs.

OUR SERVICES INCLUDE:

• Debt collection
• Corporate turnaround
• Asset protection or repossession
• Developing or implementing good management practices
• Refinancing
• Valuations
• Debt management
• Insolvency planning
• Personal liability protection
Call us or email us :info@uhy-ja.com

CONTRACTS PREPARATION AND ADVISORY



Contracts are the foundation to a business’ operations and future potential. Handshakes over lunch and oral agreements can compromise a business and are recipes for future litigation disasters. We at UHY Dawgen have a wealth of knowledge from diverse business sectors. We counsel individual, private and public

companies regarding a full gamut of contract needs. Our para legal contract services are known for being high-quality and cost effective. We gain an insight into your business and seek to uphold the goals you want to achieve with each contract.


Our team of professional staff can assists you with drafting of :

• Shareholders Agreements

• Memorandum of Understanding

• Joint Venture Agreement

• Sale and Purchase Agreements

• Loan Agreements

• Business Transfer Agreement

• Contract Manufacturing Agreement

• Settlement Agreement

• Partnership Agreement

• Representation Agreement

Call us (1876-90840070 or email us :info@uhy-ja.com


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Wednesday, August 6, 2014

Jamaica Debt Management Report | UHY Dawgen Chartered Accountants Blog

Jamaica Debt Management Report | UHY Dawgen Chartered Accountants Blog:

For the first time, the Government of Jamaica (GOJ) will publish its Annual Report and
Medium-Term Debt Management Strategy (MTDS) as stand-alone documents. This is part of its strategic effort to improve information efficacy.
The Annual Report, governed by the Public Debt Management Act 2012 (PDMA) gives details
of the GOJ’s debt and debt management operations for FY 2013/14.
The positive effects of the National Debt Exchange (NDX) executed at the end of FY 2012/13,
were manifested in FY 2013/14. This along with the implementation of several public debt management reform initiatives and the approval of an International Monetary Fund Extended Fund Facility (IMF/EFF) arrangement facilitated the successful financing of the GOJ’s budgetary obligations.
The GOJ reaffirms its commitment to continue pursuing prudent debt management to fund the Budget at minimum cost while maintaining risks at manageable levels. Get E-Copy of Report

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Compound interest restricted under the Money Lending Act | UHY Dawgen Chartered Accountants Blog

Compound interest restricted under the Money Lending Act | UHY Dawgen Chartered Accountants Blog:






9. Subject as hereinafter provided, any contract made after the commencement of this Act for the loan of money shall be illegal in so far as it provides directly or indirectly for the payment of compound interest or for the rate or amount of interest being increased by reason of any default in the payment of sums due under the contract Get E-Copy of Money Lending Act

Educational Institutions still Zero-rated for GCT | UHY Dawgen Chartered Accountants Blog



The Public is advised that all Educational Institutions which previously benefited from
a zero-rating status will retain that status, despite the new requirement for
Government entities to pay GCT on goods and services purchased now being in effect.
As a result, all public and private schools and universities will continue to get their
purchase orders or proforma invoices zero-rated at a tax office.
The continued zero-rating for schools is based primarily on the GCT provision which
allows for goods and services purchased by an educational institution, approved by
the Minister of Education for its own use and so certified by the head of the
institution.
Suppliers are therefore advised to honour zero-rated purchase orders presented by the
schools and universities. Such invoices must clearly show the name and TRN of the
school or university and be affixed with the Tax Administration Jamaica purchase
order stamp.
The introduction of GCT on government purchases forms part of the on-going reform
of the Jamaican tax system. This is expected to result in the broadening of the tax
base, increased rate of compliance and ultimately improved revenue collections.
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Economic Survey of Latin America and the Caribbean 2014 | UHY Dawgen Chartered Accountants Blog



ECLAC revised its projections for Latin American and Caribbean economies, which will experience average growth of 2.2% in 2014, affected by the weakness in external demand, less dynamic domestic demand, insufficient investment, and limited room for implementing policies to spur an upturn, the organization announced today.
These elements have a differentiated impact on Latin American and Caribbean countries and sub-regions, confirming a high degree of heterogeneity in growth dynamics, ECLAC added.
The United Nations regional commission unveiled its report Economic Survey of Latin America and the Caribbean 2014, in which it cut the regional growth forecast for 2014 that was issued last April (2.7%).
The study indicates that the economic slowdown observed in the last quarter of 2013 persisted during the first months of 2014, meaning that the region will grow less than it did last year (2.5%). Nevertheless, the report signals that a gradual improvement in some of the world’s major economies should enable the trend to change towards the end of 2014.
“Macroeconomic policies have to take into account each country’s specific vulnerabilities. Without a doubt, it is important in all cases to increase investment and productivity to guarantee structural change with equality in the medium term. Both factors are key challenges for the economic sustainability of development, especially in the current context,” said Alicia B├írcena, ECLAC’s Executive Secretary, during the presentation of the document.
On a regional level, 2014 growth will be led by Panama, with an increase in its Gross Domestic Product (GDP) of 6.7%. That country will be followed by Bolivia (5.5%) and Colombia, the Dominican Republic, Ecuador and Nicaragua, with expansions of 5.0%.
The Central American Isthmus plus Haiti and the Dominican Republic is expected to grow 4.4%, while South America will expand 1.8%, although with great diversity among countries. The Caribbean will grow 2.0%, which implies a recovery from the 1.2% registered in 2013.
The reduction in estimated growth for 2014 responds to different factors, depending on the country being analyzed, the document states. In the cases of Argentina-whose GDP will barely grow this year-and Venezuela-which should experience a contraction of -0.5%-the available data for the early months of the year reflects the impact of some imbalances that have been manifesting themselves in recent years.
In Chile and Peru, which will expand 3.0% and 4.8%, respectively, the decline in economic dynamism is linked to lower levels of investment and a deceleration in household consumption. 
In Mexico, a rebound in growth is expected (2.5% compared with 1.1% in 2013), although the rate will be lower than previously forecast (3%), while Brazil will undergo a smaller annual expansion of 1.4%, compared with 2.5% last year.
According to ECLAC’s analysis, the resumption of economic growth in the United States will benefit Mexico and Central American countries, while the recovery of the United Kingdom and several economies in the euro zone will have a positive impact, especially in the Caribbean, due to the arrival of more tourists.
The main risk is the lower growth forecast for China in 2014, the report emphasizes. The regional economies that are more specialized in exporting commodities to that country could be affected if the Asian giant cannot maintain its growth above 7%.
The study adds that in the medium term, the region is expected to face less dynamic demand for its main export goods and more costly external financing.
The Economic Survey 2014 stresses that in light of this new scenario, macroeconomic policies to manage the economic cycle and those oriented towards fostering more long-term growth must be closely coordinated.
“Macroeconomic policy must be reoriented, seeking to create the conditions for sustained growth and increased productivity. For that to happen, it is necessary to foster greater investment (public and private) in infrastructure and innovation and to boost the diversification of production,” the report highlights.




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