Wahid theory


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Wahid theory

  1. 1. WAHID THEORY – THE KEY OF DYNAMIC SERIES FOR SUCCESSFUL FINANCIALCONSULTING, (PART -01)SUMMARY: “Wahid theory” is a new method of successful financial consulting, “Wahidtheory” explanation that if you want to be a successful financial consultant, you musthave brilliant diagnostic skills and great awareness to detail. Also you need to have astrong sense of purpose-it is not a job for those who are uncertain that their future liesin the financial world. A financial consultant is a practicing professional, who helpspeople deal with various personal financial issues through proper planning,Financial Consultant will help you become more knowledgeable by providing research,advice and guidance regarding planning and portfolio management. Not limited to thesemajor areas: in addition cash flow management, education & retirement planning,investment adviser, risk management and insurance consulting, tax consulting, estateplanning and business succession for business owners.Today financial consultant function lucrative profession as financial and businessconsultants to a wide range of industries, from global banking to service industries. Acertified and expert consultant can enter into wide spectrum of the business fieldinternationally – All the Multinational Corporations and companies need to restart theirfinancial statements to comply with GAAP (Generally accepted accounting principle) thearea where a financial specializes ( essentially financial consultant) are in demand bothin practice’ and ‘industry’ sectorsFinancial consultant is specifically designed to meet the demands of modern accountingprofessionals. This program integrates into its body of knowledge, areas likemanagement, information technology & e-Business, code of ethics, and soft skills, alongwith the core areas like accounting, auditing, taxation and business law,I believe that a financial consultant don’t just learn a business, they learn the businessworld. He will open doors of opportunity. A financial consultant can provide such servicesas auditing and accounting, tax, personal financial planning, and management consultingfor diverse client’s individuals and businesses from the biggest conglomerates to thesmallest start-up companies.If you want to be a successful financial consultant, I think you need to be able toidentify patterns and relationships that you help to positive result form the clients; thiswill prove very valuable because an integral part of being a Financial Advisor is toperceive the balance between theory and practice,All the above discussion I confident that a profession consultant has bright future inprofessional area, if any an financial consultant able to perform himself, also it will raiseup his business or job consultant career, My theory just guide the students, learner, &future consultant for formulate and implement the consulting aim. He will able to createa ideal platform for the dissemination of knowledge in my chosen field of specializationI would like to elucidation my view on the enlightenment about the managementconsulting and financial consulting actions prior to going into the “WAHID THEORY” Ihave tried to approached all of the every importance parts about the management1
  2. 2. consulting and financial consulting, I hope it will be very helpful for understanding the“Wahid theory” that is the series of successful financial consulting, I believe that thepeople who are related with accounts, finance, auditing and also the business owners willrecognize overall about financial consulting. What is the compulsory of financialconsulting? And how “Wahid theory” helps the consultant for completing successfulfinancial consulting,SECTION – A > OVERVIEW THE MANAGEMENT CONSULTING:The consultants are people who are supposed to provide some useful advice to othersdepending on their area of proficiency. It can be anything and every thing where you cansell your knowledge in the form of advice to the clients. If you have vast knowledge andpractical skills in accountancy, medicine, law, business, technology, designing, publicrelations or psychology, you can become a successful consultant easily as there arethousands of people who wish to acquire some helpful knowledge before plunging intothese fields and they will like to seek advice from the consultants. Hence the mostimportant element that should be present in a successful consultant is knowledge in therelevant field.In order to consult you must have specific experience usually resulting from an in depthknowledge of a particular industry function or technique. Knowledge is of two types:1. Theoretical knowledge2. Practical knowledge, For example- Someone with an advanceddegree from a major/reputed university but with no practical experience in the realworld is a candidate for on the job training and will not likely make much of acontribution to his employer, doing the early going. On the other hand because hisimpact has to be immediate, the independent consultant is often expected to have bothtypes of knowledge with more weight on the practical side. It is true that two individualscomplete graduation from the same major/reputed university with the same advancedegree and one become wildly successful and the other mediocre in the same profession.Although both have similar credentials, the one which is more consistently applies thatknowledge is the one who becomes wildly successful.Consulting:A "consultant" typically has multiple customers at a time, and its more about a long-term relationship than it is about a specific project. There will certainly be projects inthe course of a consulting relationship, sometimes big ones, but the general idea here isthat youre an always-available resource they can call on for big matters or small. In afew cases, I am the finance department for several customers, and they use me so theydont have to hire a dedicated person for it.What are Consultants?Consultant generally specialized in the particular area, consultant means they givingadvice for pay, consultant offer their advice and still in showing problem, they may begood at solving problems or doing research exploring alternative.2
  3. 3. Consultant usually work or contract, they sell their knowledge or services for a fee,professional consultant bring new ideas, to community projects and your organization orcommunity con often loan from working with them.Consulting on alternative to corporate employment being honest with yourself andkeeping your eyes open will increase your chances of building a successful consultantservices.Who are consultants?Business consultants as people are generally:1. Knowledgeable about the topic at hand2. Well-connected within the industry3. Have a reputation and/or brand (based on experience, publications, etc)4. Effective communicatorsHow does Consultant work?Management consultant is a very lucrative, recession proof field, in-fact somespecialized consulting fields are experience a whopping increase of revenue during thecurrent slow economy.I would like to say that approach is the important to choose a consultant who uses onapproach that fits how you want the job done. A professional consultant follows tostandard approach that has been proven to work with the business industry orenvironment and then gets adopted by mot people within that specific context.The types of consulting that firms offer lots of options when it comes to consultingcommunications- e-business- operation- marketing- technologies- human resources-strategies- finance - planning, but consulting firm; one thing is common, they run on theirpower of their people to makes projects success.Careers in Consulting:"Consulting is the business of providing advice to firms in trouble, on the move, or tryingto do what they do better, faster, and more cheaply. It is one of the fastest growingindustries in todays corporate world and one of the most popular career choices fornew MBAs."General classifications of consultants:It seems like everyone these days is a consultant – strategy consultants, financialconsultants, business consultants, technology consultants, IT consultants, marketingconsultants, the list goes on and on. It’s a catch-all title for someone who gets paid togive their advice on particular subjects to companies3
  4. 4. Role of consultant:Graduates with BA or BS degrees are often employed in 2 -3 year entry level positions.After this time many employees go on to Business school, other graduate/professionalschool or positions with client companies. Contrary of popular belief .you do not need aspecific business degree to become business consultant, need your interest, skills, andexperience to help your excel,Daily activities of an analyst might include:• Creating financial models in Excel• Interviewing clients for case information• Locating data needed for cases through library and internet resources• Sharing information with other team members on client cases• Researching client-related industries• Performing competitor benchmarking analysis and identifying savings opportunities• Conducting activity-based analysis of key business processes,• Creating PowerPoint slides for client presentationsQualities & skills qualifications:The following qualities and skills are often valued by recruiters in consulting. Thepriorities and requirements of individual employers will vary significantly given the focusof their consulting activity. It is not necessary for candidates to be highly qualified ineach of these areas. Check with targeted employers to determine the specificrequirements for their positions.• Record of academic achievement• Problem solving skills• Logical reasoning• Business acumen• Team orientation• writing skills• Presentation skills• Ability to cultivate relationships• Facility with computer software• Quantitative and statistical skills• Energy/stamina• Pattern of leadershipFinding clients for consulting business:If you conduct yourself properly, you will accumulate a list of customers who will speakwell about you, in many cases these will be your best source of new business, and in anycase they have a name: your references. No matter how renowned you are for yourtechnical skills, it is hard to exaggerate just how important your references are to asuccessful consulting practice. Think what you would ask if you were checking up onsomebody you were about to hire. You’ll ask about his skills, of course, but thats not all,4
  5. 5. SECTION – B > OVERVIEW THE FINANCIAL CONSULTING:The level of depth of financial consulting varies according to the company needs sectorand competitive environment but in any case all the critical issues affecting directly orindirectly the company operation should be considered and taken into account, theoverall aim of the “Wahid theory” is to provide a successful conclusion of financialconsulting and Wahid theory is practical importance in order to company financialstrategy,Financial Consultancy:The Finance staff, offer consultancy services across all aspects of finance and allsectors of the public sector. Staff with relevant expertise will be dedicated to workwith you to investigate specific issues and develop workable recommendations andsolutions, which are acceptable and feasible in the framework of your organization.What is a Financial Consultant?A financial consultant, sometimes referred to as a financial advisor, is someone who willgive advice to personal clients and companies on a range of financial issues. They can lookat current financial plans and determine the best solutions for the future. They willsometimes be trouble shooters employed by companies to research where they are goingwrong financially and how to fix these problems. They will also research and advice onthe best financial products to suit a companies needs or personal finance products forthose.Responsibility of financial consultant:Money is not enough to become an effective financial consultant. a financial consultant,often called as financial advisor, is an individual who offers professional advice on moneymanagement. They serve individuals or organizations who are having issues with debtmanagement, setting up their long term financial goals, developing a savings plan, and whoare looking for sound investment advice.A great number of financial consultants work for companies and large organizations thatare dealing with financial challenges. Consultants help these entities with theirbudgeting and debt management issues. Sometimes, they may also be called in to developretirement and benefits plan for employeesAspiring financial consultants can work for mortgage lenders, banks, or tax companies toget valuable experience in handling loans and special financial services. Through this,theyll get a better understanding of various finance-related issues that they will mostlikely to deal with when they finally start a career in financial consulting.•Develop, manage, and retain client relationships with the support of our financepractice management team, strategic alliances and technical resources.•Partner with our wealth management & finance team to build clear and comprehensivefinancial plans for new and existing clients.•Implement financial plans through selling and servicing financial products from anumber of top-tier financial services companies.5
  6. 6. •Work with clients to help ensure that their financial goals are met by providingcustomized, comprehensive financial planning advice. & Work in a challenging environmentwith upside potential.Classification 0f financial consultant:• Financial consultant• Sales• Financial adviser• Financial planner• Financial analystAn organizations looking for experienced finance & financial services professionals &financial sales planners who are interested in expanding their opportunities and takingtheir businesses to the next level. As a premier full-service financial planning andfinance advisory firm,Financial consultant qualification required:A bachelor’s degree in any discipline is acceptable, so long as the potential analyst’scourse of study demonstrates an ability to understand and work with numbers. Businessmajors don’t necessarily have an advantage, to become a financial consultant you need tohave a strong sense of purpose-it is not a job for those who are uncertain that theirfuture lies in the financial world. Candidates must be able to meet and interact withclients, handle a heavy work load, prioritize and complete work under strict deadlines,work as part of a team, and work with computer spreadsheet and valuation programs,• Creating a comprehensive financial approach• Protecting your assets and managing risk with appropriate levels of insurance• Managing taxes better for you and your business• Helping you secure your retirement• Building an investment approach to help you reach your goals• Enhancing the value of your estate to take care of your loved onesEarning possibilities:Becoming an independent consultant usually means that you set your own hours; andthese can be very long. You are basically working for you so the more hours you put inthe more profit you can make. Those working for companies can have more regular hoursand this factor does need to considered, especially by those with families. Salaries canbe high, especially for those who excel in the field of sales. Company consultants willusually receive a base salary and then commission on top of this.Experience Counts in Financial Careers:A great number of private financial consultants have had many years of work experiencewithin a number of company consulting jobs. This experience can be gained through anumber of different industries including commercial banks, tax companies and the6
  7. 7. investment banking market. Experience of a wide range of financial issues and productswill be necessary to start your own private consultancy.Scope of the financial consultant:Scope Financial Services provides a quick, easy and obligation free service that allowsyou to compare your current home loan against the hundreds available from our panel oflenders. It is common for people to refinance as they can get a better interest rate,lower monthly repayments and change their loan to suit their lifestyle. Best of all, itwon’t cost you anything to have a Scope Financial Services consultant compare loans foryou,The Role of a Financial Consultant:A Financial Consultant assumes many roles related to your overall investment strategyand can assist you in a variety of ways. Below are some of the many roles a FinancialConsultant might incorporate into their practice,• Trusted Advisor - Your Financial Consultant is a licensed professional who willfrequently communicate with you to build a long-term relationship.• Educator - Your Financial Consultant will help you become more knowledgeable byproviding research, advice and guidance regarding planning and portfolio management.• Planning Facilitator - Your Financial Consultant has extensive planning capabilities andwill provide you with a process for building, managing and protecting your assets.• Portfolio Manager - Your Financial Consultants primary responsibility is to help youbuild, diversify and monitor your portfolio. Research analysts, equity and fixed incometrading specialists and asset managers will assist in the process.• Community Citizen - Your Financial Consultant is often involved in his or her owncommunity as a volunteer, educator, fundraiser, coach, council member and organizationboard member.An organization really needs a financial consultant?A financial consultant or personal financial consultant is a practicing professional whohelps people deal with various personal financial issues through proper planning, whichincludes but is not limited to these major areas: cash flow management, educationplanning, retirement planning, investment planning, risk management and insuranceplanning, tax planning, estate planning and business succession planning for businessowners. A financial consultant will manage your investment but generally does not offeran additional financial advice on other aspects of your financial life such as insurance,retirement or estate planning. Often stockbrokers will recommend a money manager inwhich chase you may be paying a fee to the stockbroker and an additional fee to themoney manager, both of which are based on the amount you invest.Do we even need a Financial Consultant?Most financial advisors study the stock market on a daily basis. Their primary job is tomake an educated guess on where the market is headed – up or down. Because of this7
  8. 8. daily research, they become an expert in stock market fluctuations. This financial adviceis a risky business.However, the biggest risk you face to your retirement nest egg is the cost of care – inyour own home, an assisted living community facility. Because of this risk, you shouldhave a very conservative approach to investing your financial future. Your financialadvisor should be focused on asset protection. They should be trying to stretch yourincome and assets to provide you with a high-quality living environment – no matterwhere you might need care, no matter how long you might live.Financial Management consultancy:Financial management consultant has the capability to undertake assignments rangingfrom reviewing an organization’s financial planning structure and processes through toproviding on-site provisional financial expertise on a day to day basis.Elements of Financial consultancy:The elements of financial management consultant in which we are able to providespecialist support for existing and new organizations include:• Financial forecasting and planning• Business planning - constructing plans and• critically reviewing existing plans• Financial due diligence• Treasury management• Financial controls and systems development• Development of business cases• Drafting and agreeing financial regulationsAt a glance of financial consultant job:Financial consultants, also known as financial advisers or financial analysts, are licensedprofessionals trained to help individuals or organizations make intelligent financialdecisions. These professionals typically use information about market trends, stockvalues, taxes and other economic factors to help a client decide if an investment isappropriate or not.1. ResponsibilitiesFinancial consultants examine financial statements, evaluate investment opportunities,provide advice to clients about possible investment opportunities and provide advice tostockbrokers and other individuals who are attempting to sell securities (stock, bonds,etc.)2. Education/TrainingA financial consultant is typically required to have a bachelors degree in accounting,business administration, economics, finance or statistics and the appropriate consultinglicenses.3. Career Development8
  9. 9. A financial consultant may advance to a supervisor, a branch manager or another similartype of management position. Financial consultants may also improve their employmentopportunities by obtaining additional certifications.4. Work LocationsFinancial consultants typically work in banks, homes belonging to clients, investmentcompanies, insurance companies or their own offices.Objective of financial consultant:A financial consultant or other personnel designated for future responsibility fordistrict finances so as to make a smooth transition into fiscal responsibility to thedistrict and its consumers.SECTION – C >WAHID THEORY:INTRODUTION:Not everyone who starts and runs a business begins with a business plan, but it certainlyhelps to have one. If you are seeking funding from a venture capitalist, you will certainlyneed a comprehensive business plan that is well thought out and demonstrates soundbusiness reasoning. If you are approaching a banker for a loan for a start-up business,your loan officer may suggest a Small Business Administration (SBA) loan, which willrequire a business project profile, project balance sheet, cash flow statement, budget, &plan. If you have an existing business and are approaching a bank for capital to expandthe business, they often will not require a business plan, but they may look morefavorably on your application if you have one.Reasons for writing a business include:•Support a loan application•Raise equity funding•Define objectives and describe programs to achieve those objectives•Create a regular business review and course correction process•Define a new business•Define agreements between partners•set a value on a business for sale or legal purposes•Evaluate a new product line, promotion, or expansionA business plan should prove that your business will generate enough revenue to coveryour expenses, but a business plan may vary depending upon whom your audience is. Ifyou are writing a plan for your colleagues and partners, for example, to expand anexisting business, then the focus of that plan may be more operational than financial.Yes, you are going to show your partners how this expansion will mean more revenues,but they are going to want to know the silly and bolts of how this new venture is going tobe implemented.If you are writing a business plan for a bank, your bank manager will want to see thatyour ideas are well thought out, but the most important aspect to him or her will be yourfinancials. Are your assumptions realistic? And will the cash flow of the business be9
  10. 10. enough to ensure that you can make the monthly payments for the loan that you haverequested? If your business is making $1,000 a month and your payments are $1,200 amonth, the bank is likely to turn you away“Wahid theory” is just guide to the financial consultant, financial planner, financialadviser, business owner, reader from end to end a complete financial valuation andfinancial valuation tools in an organization that professionals can use in preparingbusiness valuations. I hope this prepared to possible during used on a “Wahid theory”basis.“Wahid theory” on valuing businesses conveyed in a series of easily understandableExposed to total financial consulting issues: Financial valuations are very much affectedby specific facts and circumstances. Every situation is unique and differing facts andcircumstances may result in variations of the applied methodologies. Nothing containedin these written materials shall be construed to represent the rendering of valuationadvice; the exposé of a valuation opinion; the picture of any other professional opinion orservice.Regardless of your path, your career success as a financial consultant depends on yourdoing these things reasonably well, and you cannot do that without a respectableknowledge of finance and accounting.Financial consulting is not a simple discipline. In fact, it is one of the most complex anddifficult jobs in the company. The only way you can maintain your position as a financialconsulting is through successful financial consulting. But successful financial consultingdoesn’t just happen; it is a complex procedure that begins with Wakefulness>Accountable>Heed>Intelligence >Determination more than the years, I have urbanized aformula that expresses success In financial consulting in an organization or project, Thisformula is:Wakefulness >Accountable>Heed>Intelligence >Determination (Wahid) = SuccessOtherwiseSuccess = Wakefulness >Accountable>Heed>Intelligence > Determination (Wahid)(PART -01 Finished. > To be continue)10