Saturday, May 13, 2017

Entrepreneurialism – A Walk In The Dark

When you chart a course for entrepreneurialism the experience can be exhilarating, stressful, encouraging, discouraging, promising or filled with pitfalls. And the way you would describe your feelings can change moment to moment.
The above roller coaster description is one of the reasons some individuals feel entrepreneurialism is something they would like to pursue, but apprehension hangs over the possibility like a black cloud.
One of the best ways I can describe the experience of an entrepreneur is being shown a beautiful mountaintop with fresh springs and peaceful meadows. You want to get to that mountaintop, you desire to drink from those fresh springs and enjoy moments of tranquility in the meadow. In that moment you are ready to sign up for the adventure.
You’re ready to go, but the tour director tells you to wait just a little bit longer. By the time you get the go ahead it’s dark outside. The only thing you have to guide you is the memory of the destination and a flashlight.
You point the flashlight in the direction of the mountaintop, but the darkness swallows the light. You look nervously at the tour director and he encourages you to start your journey.
Just as you’re ready to quit and go home, the tour director says, “Point the flashlight toward your feet. It will light just enough so you know where to put your next step.”
In many ways this is the picture of what it is like to become an entrepreneur. You have seen the place you want to go, but the darkness of how to get there can throw you off track. When you deal with issues one at a time it’s a lot like pointing the flashlight at your feet so you can see where to step next.
The memory of where you want to go is the motivation that keeps you moving forward, and when morning comes you can see how far you’ve come.
Entrepreneurialism is the fine art of looking at the unknown and deciding it’s worth the effort to become friends.
There really is an element of faith involved in the pursuit of entrepreneurialism. It takes believing in yourself, believing in an idea and believing that the effort is worth it.
If you are in the midst of pursuing an entrepreneurial goal let me offer this encouragement, if you can keep the end goal in mind and keep making steps toward your goal you have done something many haven’t. Others may see the mountain, they may dream about the springs and meadows, but darkness is frightening and it’s easier to do nothing than take a step into the unknown.
Crowe Horwath Jamaica provides guidance to Entrepreneur ! Contact us Here


'via Blog this'

Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Sunday, May 7, 2017

Adapting to CECL – Data Requirements for Making the Transition | Crowe Horwath LLP









Adapting to CECL – Data Requirements for Making the Transition | Crowe Horwath LLP: "The new Financial Accounting Standards Board standard for estimating expected credit losses requires significant changes in the way entities calculate credit impairment on financial assets. Challenges can arise when entities attempt to assemble the data that is needed to perform the required analysis. Although much of the necessary data is likely to exist within various internal systems, most financial services organizations are unable to access the data quickly, consistently, and accurately in a coordinated system. In this article, Crowe Horwath LLP reviews the data challenges associated with the new standard and presents an approach to help make the transition.

Read Part 1: Identifying Portfolio Risks
Read Part 2: Data Requirements for Making the Transition
Read Part 3: Governance and Oversight for Making the Transition
Read Part 4: The Resources and Technology Considerations to Make the Transition







'via Blog this'

Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Adapting to CECL – Identifying Portfolio Risks | Crowe Horwath LLP

Adapting to CECL – Identifying Portfolio Risks | Crowe Horwath LLP:



 "The new FASB standard for estimating expected credit losses requires significant changes in the way entities calculate credit impairment on financial assets. In addition, entities will need to adapt their data systems, technology, financial models, and governance structures to comply with the new standard. In this article, Crowe Horwath LLP presents part one of a comprehensive approach to help make the transition."



'via Blog this'

Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Adapting to CECL – Data Requirements for Making the Transition | Crowe Horwath LLP

Adapting to CECL – Data Requirements for Making the Transition | Crowe Horwath LLP:



 "The new Financial Accounting Standards Board standard for estimating expected credit losses requires significant changes in the way entities calculate credit impairment on financial assets. Challenges can arise when entities attempt to assemble the data that is needed to perform the required analysis. Although much of the necessary data is likely to exist within various internal systems, most financial services organizations are unable to access the data quickly, consistently, and accurately in a coordinated system. In this article, Crowe Horwath LLP reviews the data challenges associated with the new standard and presents an approach to help make the transition."





'via Blog this'

Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Crowe Horwath Jamaica



Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Saturday, May 6, 2017

Crowe Horwath Jamaica: Leadership Skills: Developing Positive Relationships

Crowe Horwath Jamaica: Leadership Skills: Developing Positive Relationships





 Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Leadership Skills: Developing Positive Relationships


Maintaining High Standards Of Personal Behaviour, by: maintaining high standards of personal beliefs; behaving with integrity and fairness; behaving ethically; showing respect and sensitivity for the views of others; ensuring that all relevant people are kept informed of plans, decisions, and progress; pro-actively seeking positive relationships; accepting criticism and feedback positively. 


The rationale is that the leader must aspire to be a role model for high standards of personal behaviour, be ethical, be honest, be genuine, so that they are ultimately trusted by colleagues and stakeholders. Even if the leader is required to carry out actions that have an unpalatable impact, such as when redundancies are necessary, the aim is to carry out such actions in as honest, open, and sympathetic manner as possible, so that observers, even those most negatively affected, will not be able to accuse the leader of unacceptable personal behaviour.

Establishing Supportive Communication Systems, by: establishing training programmes that develop individual and team communication skills; establishing systems that support collaboration and cooperation between internal and external individuals and groups; implementing information management systems that ensure key information reaches appropriate people in a timely manner; encouraging consultative and participative decision making at all levels. Systems and approaches described here are essential foundation blocks on which positive relationships can be built and developed. Without this underlying framework in place, information will be dissipated and misinterpreted, decisions will be based on inadequate information, and relationships will deteriorate.

Promoting Values and Standards, by: consulting with specialists, individuals, teams, and legislative bodies, to identify and establish appropriate values and standards for the organisation; providing guidance on values and standards that is understood at all levels; ensuring that all external partners are made aware of the organisation’s values and standards; implementing policies and procedures that manage, monitor, and improve the quality of values and standards, at all levels; taking prompt and visible action when established values and standards have not been maintained. The objective here is to ensure that all working relationships are built and developed against a background of known values and standards, and that all parties are made aware that the quality of internal and external relationships is an important aspect of the organisation’s approach to these.

Gaining The Trust of Colleagues, by: consulting with colleagues in an open and honest manner; keeping colleagues appropriately informed about decisions, plans, actions, and progress; providing colleagues with sufficient personal support; honouring commitments made to colleagues; treating colleagues with respect and with appropriate confidentiality. Leaders should work with colleagues in a way which demonstrates the leader’s commitment to the values and standards of the organisation, and in a manner which demonstrates to colleagues that they have the respect and support of their leader. This is vital in enabling the leader to draw the best performance from colleagues, and for those colleagues to achieve their personal performance targets. 


Gaining The Trust Of External Stakeholders, by: striving to understand the viewpoint and the objectives of the stakeholder; consulting with stakeholders in an open and honest manner; keeping stakeholders appropriately informed about the organisation’s decisions, plans, actions, and progress; demonstrating personal commitment to agreements and arrangements; honouring commitments made to stakeholders; treating stakeholders with respect and with appropriate confidentiality. The aim here is to behave with stakeholder in an honest, open, and positive manner. For the relationship between the organisation and the stakeholder to be successful, there must be mutual understanding, mutual respect, and a desire to develop a relationship that is beneficial to both parties. This is essential in all external relationships, and particularly critical when the relationship is intended to be long term.

Evaluate Relationship Performance, by: laying down clear quality criteria for the assessment of the condition of relationships; establishing monitoring procedures which include scheduled evaluation review points; insisting that evaluation reviews are carried out even though the relationship appears to be healthy; taking appropriate corrective action to address problems; adopting a continuous improvement approach to all internal and external relationships; ensuring that the quality of relationships is high on the quality assurance agenda of the organisation. Regular and thorough assessments of the condition of relationships is vital. Without these evaluations, and appropriate corrective action, many relationships will deteriorate. Some will linger in a poor condition, causing a constant flow of minor difficulties, some will implode and cause major problems. These problems can be avoided by a regular health-check on each set of relationships followed by appropriate action.

In Summary: just as the organisation’s leaders must maintain, develop, and continuously improve the quality of its physical resources, its marketing performance, its financial health, and so on, the leaders must also take the same approach to working relationships between themselves and others, and between all other internal and external partners in the organisation. For the organisation to achieve its operational targets and strategic objectives, it is essential that all working relationships are healthy and productive and continuously improving. The leaders of the organisation must ensure that this is the case.





Crowe Horwath Jamaica (www.crowehorwath.com.jm) is one of the largest public accounting, consulting, and advisory firms in Jamaica . Crowe uses its deep industry expertise to provide audit services to public and private entities while also helping clients reach their goals with tax, advisory, risk and performance services. Crowe Horwath Jamaica serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world. The network consists of more than 200 independent accounting and advisory services firms in more than 130 countries around the world.

Featured Post

The Making of an Entrepreneur

What is an entrepreneur? Well, an entrepreneur is one who takes calculated risks and introduces a new or existing product into a new or...