Global Account Corporation LLC – leader in accounting outsourcing of Mongolia

      Global Account Corporation LLC as initiator conducts effective activities in the field of educating & training as humanitarian acts for contractual & accredited accountants, financiers & analysts except for rendering of business consulting & accounting outsourcing.  In leadership of this company has conducted several discussions devoted to staffs of all companies which started accounting outsourcing at assistance of high financial & accounting organizations, & also lectures at economics universities. Besides company takes proper account in forming favorable legislation environment for contractual & accredited accountants, who engages activities in the field of outsourcing as of computer software, financial consulting & analyzing, bookkeeping, preparing corresponding statements, creating accounting documentations & internal financial control etc in order to protect staffs from professional risks & cover them with professional insurance. One of main directions of company’s activities is educating   holy & sacred professional ethics for contractual & accredited accountants, financiers & analysts. Company permanently deals with activities in the field of education of professional ethics, & manages researching under the topics as “Professional risks for accountants”, “Ways & means to protect accountants from risks”, “How to cover accountants with professional insurance”, “Preparing financial & tax statements online accuracy”, ”Reason, which causes preparing double financial statements at corporate entities“ etc. Herein shows result of statistical sampling under thesis ”Several factors caused on preparing double financial statements at legal entities” into which involved 188 accounting representatives & that has conducted by staffs of Global Account Corporation LLC.

 Moreover last year has published interesting & so useful book ”Analysis of human resource management” in collaboration with Mongolian association of chartered financial analysts in which demonstrated as traditional as well as modern methods of human resource analysis. The first authors extensively have illustrated feasibilities of methods on human resource analysis as: multiple correlation & nonparametric approach, linear programming, learning curve, linear algebra, behavior analysis in time series, logarithmic conversions, & stepwise elimination of independent dimensions etc.   We are kindly ask all persons & corporate entities interested in cooperation with Global Account Corporation LLC to connect at following links: as e-mail: email_gac@yahoo.com, WEB site: www.gac.com or www.e-tax.mn, Cell phone: 99108830, 98108830, 91108830, 94(01-04)8830.

Global Account Corporation LLC has conducted discussion on tax law

& likely risk of its application

     Recently has held meeting-discussion on topic of Tax law & likely risk which would be flowed from its application in tax payer’s auditorium at General Tax Administration.  Meeting has organized under initiation of Mongolian outsourcing association of accountants with participations of Ministry of Finance, General Tax Administration & Global Account Corporation LLC. Representatives, directors & accountants of more than 110 corporate entities took part in an interesting discussion on application of tax law & likely risk expects from it.  Deputy heard of General Tax Administration MR. J. Batbayar has opened second year’s mutual meeting & emphasized on his speech virtual role of tax administrations in collaboration with taxpayers as one of main directions of their team works. Herein he said that authorities of tax organizations & their collectives are paying high attention in this discussion & he made brief presentation of main policy carried out in the field of tax innovations. In addition to that he expressed every success in activities of: as staffs of Mongolian outsourcing association of accountants, who holds permanent collaboration with tax organizations as well as participants-taxpayers. In discussion have participated following officials as Economics Adviser to Prime Minister MR. B. Lkhagvajav, Chief of communication division with taxpayers at General Tax Administration MR. D. Bayaraa & Chief of law division MR. O. Tenggis etc.  Discussion held in following plenary sections as:

         Meanwhile company Global Account Corporation LLC has attracted pleasant appreciation from side of governmental & non business institutions because of that it played dominate role in proper conducting of discussion.  Please connect at following links: as e-mail: email_gac@yahoo.com also WEB site: www.gac.com  if you would like to get service of this leader company in accounting outsourcing of Mongolia.

 Global account Corporation ограниченной ответственности организовал дискуссию над темой ” Применение налогового закона и вытекающий из него вероятный риск ”

          Недавно состоялась встреча - дискуссия в зале налогоплательщиков Главного НалоговогоУправления над темой ” Применение налогового закона и вытекающий из него вероятный риск ”. Встреча-дискуссия была организована под инициативой Монгольской аутсорсинговой ассоциации бухгалтеров с участием Министерства Финансов, Главного НалоговогоУправления и компании ”Global Account Corporation” ограниченной ответственности. В дискуссии приняли активное участие представители, директоры, бухгалтеры более 110 хозяйственных единиц  и провели интересную дискуссию о применении налогового закона. Дискуссию, которая организовалась на второй год открывал Зампредседателя Главного Налогового Управления Ж. Батбаяар и выступал с речью. Он подчёркивал, что сотрудничество с налогоплательщиками есть одно из направлений в деятельности налоговых организаций. Также  он сказал, что руководство налоговых организаций и их коллектив придают высокое значение этой дискуссии и он делал краткое онакомление о проводимой налоговыми организациями крупной политике по инновации. Наряду с тем он пожелал успехов в работе работников Монгольской аутсорсинговой ассоциации бухгалтеров и участников-налогоплательщиков. В дискуссии приняли участие следующие официальные лица как Экономический консультант Премьера Министра Б. Лхагважав, Начальник отдела по отношениям с налогоплательщиками Д. Баяраа и Начальник юридического отдела О. Тэнгис.  Дискуссия была проведена в следующих пленарных заседаниях:

В успешной организации дискуссии домнирующую роль сыграла компания ”Global Account Corporation” , что она привлекает пристальное внимание и приветствие нетолько государственных но и общественных организаций. Если Вы хотите получать обслуживание этой компании-лидера в бухгалтерском аутсорсинге Монголии обратите к ней по следующим адресам: e-mail: email_gac@yahoo.com , также  WEB site: www.gac.com

Мы приглашаем Вас сотрудничать с бизнес компанией Global account Corporation

Основная задача компании: Продажа Монгольского интеллектуального потеициала на внутреннем  и зарубежном рынках.

История компании: Данная компания cначала coздана в качестве отдела специализированной службы по финасам и бухгалтерскому учёту в составе “ Эрхэм чанар” компании ограниченных обязанностей, которая начала свою деятельность с ноябрь 2007 года, потом в начале 2010 года была реорганизована в Глобал Аккаунт компанию ограниченных обязанностей. Её кадровой коллектив комплектован  от профессионалов, которые накопили богатые, многолетные опыты в службе финансов, бухгалтерского учёта, налогоовложения, социального страхования, финансого программного обеспечения. В нашем коллективе работают более 10 специалистов и консультантов, окончивщих ВУЗ по специальности бухгалтерского учёта бизнесменежемента, налогого инспектора, экономиста, проработавщих в хозяйственных единицах как старшими и главными бухгалтерами, старшими специалистами учёта, аналитиками системы, имеющие звание контрактного бухгалтера, бухгалтера-консультанта, профессионального бухгалтера и аккредитиррованного налогого бухгалтера.  Наша компания проводит бизнес деятельность в следующем направлении:

Направление деятельности:

Бизнес консультация:

§  Консультация финансов и бухгалтерского учета,

§  Правая консультация социального страхования и налгоовложения,

§  Консультация и внедрение финансого и бухгалтерского компьютерного программирования.

Аутсорсинговое обслуживание:

§  Проводение комплексного анализа финансого отчёта и управленческого менежмента,

§  Приготовление финансого отчёта,

§  Обработка  документаций бухгалтерской политики в соответстие с Закона бухгалтерского учёта Монголии и Интернационального стандарта бухгалтерсой отчетности,

§  Оказание обслуживания в сфере социального страхования и оплаты труда,

§  Приготовление всех родов отчётности налогов,

§  Проводение налогого контроля и ревизии,

§  Проведение внутреннего контроля в рамках компании.

      Настоящее время компания оказывает вышеперечисленные слуги в более чем 50 клиентов и пользуясь случаем перечисляем называния некоторых клиентов с их согласшем: Самсунг електроникс, Барс групп-ХСТЛ ХХК, Торговый центер АПТИ, Хумана центер. Также Национальное главное управление налогов, Институт профсиональных бухгалтеров Монголии, Ассоциация аккредированных бухгалтеров налогов, Монгольская аутсорсинговая ассоциация бухгалтеров, ТАМВАС программ Европейского банка реконстукции и развития, Интерактив компания ограниченной ответсвенности имеют деловое сотрудничество и поддерживают нашу деятельность. email: email_gas@yahoo.com & tyodon@yahoo.com WEB: www.gac.mn or www.e-tax.mn. Phone: 99108830, 98108830, 91108830, 94(01-04)8830, 99271356.

We invite you to co-operate with outsourcing company of Global account Corporation

Honorable goal of company:

Dealing with Mongolian intellectual potentials at domestic & overseas markets

The company has started its activities under business title “Professional service division of finance & accounting” at Erkhemchanar LLC since November, 2007 & officially established at the beginning of 2010 as legal entity & named Global Account LLC. Company composes its working crew from highly skilled professional staffs who possessed rich experiences in the field of finance, accounting, taxation, social insurance, financial application programming on Windows medium.  Working team consists of  more than 10 accounting consultants & specialists, who graduated from Mongolian universities by profession of business management accounting, tax inspector, economist, were worked at corporate entities at position of chief & senior accountants, accounting managers, system analysts & have earned professional degrees of contractual accountant, adviser accountant, CPA, accredited tax accountant.   Our company conducts its activities in following directions:

Activities directions:

Providing consulting service:

ь  Professional consulting of financial management & accounting,

ь  Consulting on legislation of social insurance & tax,

ь  Consulting & practical applications of financial & accounting programs.

Outsourcing service:

ь  Financial statement analysis, cost & management accounting calculus in complex,

ь  Preparing financial statements for companies & organizations,

ь  Creating accounting policy documentations corresponded to Mongolian Law of Accounting & International Standard of Financial Statements,

ь  Rendering services on social insurance & calculus of labor expenses,

ь  Preparing all kinds of taxation & their statements,

ь  Conducting tax controls,

ь  Carrying out internal financial control & managerial monitoring.

       Meanwhile numbers of its clients continuously rise & those already have exceeded half hundred, herein have cited names of them with their consent as: Samsung electronics, Bars group-KhSTL  LLC, Trade center APTI, Khumana center. Also our company cooperates with following organizations they support activities of company: as National General Tax Administration, Mongolian Institute of Certified Professional Accountants, Association of Accredited tax accountants, Mongolian outsourcing association of accountants, TAMBAS program of European Bank reconstruction & development, Interactive LLC etc. email: email_gas@yahoo.com & tyondon@yahoo.com WEB: www.gac.mn or www.e-tax.mn. Phone: 99108830, 98108830, 91108830, 94(01-04)8830, 99271356.

Preparing postgraduate accountants: today & tomorrow

      Its great, passed more than 20 years when my country transferred from socialistic regime to open market economy, was started to apply International standard of financial statements, have renewed contents of financial & accounting subjects at economics colleges. Many state owned & private universities received license to conduct postgraduate training in the field of economics, finance, accounting, management & marketing as: conferring degree of Doctor, master, certified professional accountants, professional managerial accountants, underwriters, realtors, accredited tax inspectors & state inspectors etc. These institutions have preferred advantages to receive financial support from Human development fund, subsidies on variable expenses per learner, & to covering in scholarship projects. High education seems as most profitable business sector on account of that which exempts from both kind of taxes: income tax & value added tax. For years grow training payments for postgraduates in connection with that who earns steady monthly wage at business sector & according to continuously rising inflation rate. Meanwhile last period were established many post graduating Academy initiated by individuals, also nongovernment institutions, sponsored privately or jointly with foreign investment in order to raise their income via easiest way. It seems as favorable area of pumping out money for them from learners legally. Total population of country has amounted to 2,754,6 thousand as of November, 2010 which publically announced on June 10, 2011 according to results of census & herein 6,0 thousand non-governmental institutions counted under corporate census this year. Some postgraduates express dissatisfaction at post graduating quality, & who say nor differences between trainings of master & bachelor degrees, probably exist differences at getting only certificate which needed in showing on presentation to employers. Some institutions & universities implement joint program on Masters of Business Administration with Asian overseas countries but however in which don’t see any know how & innovations in financial analyzing & accounting modeling etc. Maybe, there are available main differences & advantages in conducting some lectures in foreign languages & acquisition of diploma of overseas universities by holders of a master’s degree. Meets act in connection with acquisition of illegal diploma of academic degree or university degree in order to promote at desirable position in state owned organizations or participate on election campaign. It describes badly quality of rendering state services to citizen by staves without proper education. Survey shows that 70% of total postgraduates couldn’t find desirable for them working positions. In return it also expresses quality of post graduating education in parallel. Goes talking of that not difficulties on purchasing diploma of Ph Doctor at by US $5000-6000 abroad. Also often shows on TV broadcasting about purchasing drafts of graduating diploma work at around 50,000 MNT or US $35 on account of haven’t united controlling system in which over all high education institutions. Applications SPSS, E-views programming, mathematical approaches on cost & managerial accounting which gives by lecturing to students of bachelor degree again include to curriculum doctorate or master’s studying. Indeed haven’t showed paper & researching article, any element of innovations in the field of economics which could be included into contents of textbooks those shall publish in millennium issues over the world although incalculable persons were conferred & awarded degrees of academic, science doctor, professor, honored scientist, & holder of an order etc. They take part in tender which profitable for them, otherwise tender lists don’t cover writing textbooks. Stashers on special courses & masters say that should be separated masters training into preparing of researchers & to grant experiences in business administration. Passed more than 10 years, when some institutions were started activities in the line of certifying professional accountants, but however they couldn’t cope with creating & developing new ideas in any kind of accounting, probably they engage translation of foreign standards of accounting & lectures in English edition into Mongolian & conduct chargeable stepwise courses. Recently by chance saw test book of passing exams for certified accountants contents of which were crowded with copied figures, diagrams & translated test questions etc. Takes place of poor knowledge for certified accountants in possessing of financial analyzing methods, business statistics, elementary experiences on accounting modeling those directly depend on skills & experiences of tutors. We well know both fundamental textbooks as “Cost accounting” & “Intermediate accounting” which has been translated into Mongolian at financial sponsoring in line of Asian development bank. After that appeared some textbooks written by independent authors mainly with translation contents. Actually many unsolved problems exist in accounting practice & they expect proper decisions, namely issuing methodological materials respected to Mongolian specific conditions, forming legislation environment, supplying affordable modern textbooks & rendering professional assistance to address of clients. Should take into account that country has severe of the continental climate, richer with underground mineral resources, livestock & husbandry plays vital role in livelihood, half a total population lives in capital city also as of today, in Ulaanbaatar locate 88.1% of total legal entities, which registered to 66,5 thousand. Municipality of capital city couldn’t deal with winter’s air pollution so far because of that around its half households dwell in felt gers. Continuously last disputes of that how to calculate real cost per square meter of residential apartments as government has decided to construct residential buildings for 100,000 households. In addition to that arise disagreements between leaders of high educational institutions & steering board of students on scholarship every autumn. Practical staves require feasible methodology of cost processing in foreign invested mining enterprises, most effective methods of collecting taxes, including royalties, also optimal ways & means to compute caused damage on natural environments. In general both factors as positive & negative effect on high education, particularly couldn’t avoid traditional copying knowledge which has adopted from socialistic regime so far. Regardless of Mongolian law of Copyrights were placed many copying devices at universities & colleges in order to economize purchasing money of textbooks, which written by mainly at expenses of independent researchers & authors. In high & post graduating education dominate copying & translating  ways & means as before in socialism, indeed authorities of all ranks don’t understand what is mean an innovations in finance, accounting & textbooks on economics etc. They have began talking of technical, chemistry, biological innovations, never about developing & creating of new ideas on finance & accounting. Indeed most tutors of economics universities & colleges couldn’t create new ideas on financial engineering, accounting mathematics, & can’t cope with elementary mathematical conversions in permanent teaching practice. Efficient support from side of high financial & accounting organs, which responsible for their methodological ruling according to Law of accounting for all legal entities is has missed so far. In return we personally consider financial & accounting innovation in their development, creaturing, exchange, distribution, & outsourcing neither in their translation from without & copying from internet etc.  By the way we’ll see the accounting future in its integrations with applied mathematics, econometrics, financial engineering, mathematical statistics & economics modeling etc.

Development of accounting outsourcing: Difficulties & prospects

        As well as known after 1990 many new understandings came to social & economics livelihood of all people who could choice freely kind of work & working place, also independently find convenient employment location according to their desire. Were found several companies those manage activities in the line of computer programming on financial calculus, preparing quarterly financial & tax statements, collecting receivables, bookkeeping, drafting documentation of accounting policy, financial consultation & auditing etc. This year National statistical office has conducted corporate census, as result of which showed that 66,5thousand legal entities registered, including 55,6 thousand business entities, 4,0 thousand governmental organizations, & 6,0 thousand non-governmental institutions. Review of financial authority confirms that about 74.5% of registered entities permanently prepare financial & tax statements, & than submit they for subsequent supervising. Herein should emphasize that business entities carry out selling revenue more 10 million MNT a year in accumulative value must register as payer of value added tax & have to submit corresponding statements to financial authorities. But however nearly 75% of registered entities prepare permanently financial statement & keep relationship with territorial tax authorities via any kind of taxation. Otherwise employers of small & medium sized companies which hold less than 20 workers couldn’t keep independent financial or accounting subdivision from accountants & financiers, however they prefer to hireling contractual bookkeepers who possess insightful experiences & professional skills on accounting. Although have commenced outsourcing development in the field of financial service & accounting haven’t adopted necessary legal regulations so far except of hiring contractual accountants for  company under Mongolian law of accounting. In addition to that hasn’t act legislation of insurances for protecting accountants from professional risks & unanticipated mistakes. Actually takes place shortage in management & professional leadership on accounting outsourcing, also any support in this area from high financial authority which responsible for methodological  ruling  until now. Support & development of accounting outsourcing will render rising of wage income for financial & accounting staffs. Monthly average family income is amounted to 513,000 MNT or US $ 366.4 from all sources as of November, 2010 which announced by National statistical office. Herein monthly real income per capita of households would be computed 366.4:3.8=US $96.4 if consider every family consists from 3.8 members according to population census. For last decade hadn’t observe declining of poverty as 40% of population is still remaining on poverty. Review appears that 56% of total population has monthly wage around 200,000-400,000 MNT or US $142.5-285. Actually physician or teacher who engages at state owned organizations (sub district hospital or secondary school) with work length up to 25 years set monthly salary 325,000MNT or US $232.1.   For years grows labor exploitation which became reality & affects on living standard of wage works, namely in private sector no exist external public & governmental controls & trade union that responsible for protecting  interests of workers. Passed for long time when owners of private sectors press new employees to work without salary or set up for them probation wage at the minimum of labor payment or approximately US $100. For instance hired dentist at dental clinic would be received monthly salary at 15% of earned revenue per month by him/her. Intellectual outsourcing in the field of finance & accounting shall be perspective direction in increasing real income for accountants. Takes place rumor of that Certified Public Accountant (CPA) prepares quarterly financial statement for small or medium sized company including tax statement by around wage of 50,000 MNT or US $36. Let’s compute achievable additional income for accountants 66,500(legal entities) 0.745(percentage of accountable entities) 0.8(percentage of small & medium sized entities) 50,000MNT(wage per accountancy):1,400=$1,415,500. But however no concrete viewpoints on size classification of enterprises & exist differences in wage system for contractual accountants still now. Researcher’s review shows that more than 95 % of social welfare had accumulated in disposal of 2% of population or 14,276 households with 55,100 family members, herein total population amounted to 2,754,6 thousand as of November, 2010 which publicly announced on June 10, 2011 according to results of census.  Following positive opportunities seem to effect on rapid & wide development of accounting outsourcing over all countries positively. (1) Globalization & integration of economics for many countries without boarder, usage of united currency over several countries, adopting united budget for them, applications in practice international standard of financial statement etc. (2) Possibilities of conducting business in any occasions of geographical location, time change, weather condition, national currencies are taking place by skilled staffs via internet communication on time. (3) Cheapest labor cost in Asian developing countries is rendering feasibility in managing offshore outsourcing from these countries in direction to high developed countries, which shall give favorable opportunities on exchanging know-how & distributing ultimate researching results. Recent survey shows that outsourcing in accounting field cuts its direct expenses by 60%. (4) Any science branch in its development process seeps through another or diversifies into separate parts. Passed over 500 years when Luca Pacioli had proposed method of double–entry bookkeeping which was starting of modern accounting practice but however it exhausts all one’s internal potential to perfect oneself on future independently, & requires integrations with other science branches first of all basing on applied & statistical mathematics, econometrics, financial engineering, accounting modeling etc. (5) Intensive growth of  foreign investment to mining industry processing & exploitations of mineral resources, including  sign up corresponding agreements for Oyu-Tolgoi & Tavantolgoi etc, which shall give favorable opportunities in looking forward  developments on the level of macroeconomics rising & equilibrium.  In general grows necessity in financial analyzing over corporate entities. However  no legal entities which conduct properly financial analysis in their activities, incurs shortage in experienced & skilled staffs in above mentioned area, & also haven’t issued affordable methodological materials for use. Taking into account above mentioned difficulties by some specialists in leadership of Prof. T. Yondon was initiated Mongolian association of chartered financial analysts, which conducts many effective measures in the field of free training, publication, consultation etc. Many modern textbooks & other training materials have been written by Prof. T. Yondon in line of Mongolian association of chartered financial analysts, summaries of these publications placed at following well known blogs of Google.com as tyondon.blogspot.com under blog title tyondon-researcher or tyondon_@yahoo.com in English edition, also tyondon.blogmn.net in Mongolian etc. By the way some hireling workers at headquarters of foreign invested companies usually don’t have necessary knowledge of Mongolian law on finance, accounting, tax, procurement, exploitation & concentration mineral resources, protecting of environment etc. Hereby should emphasize that have been prepared both methodologies of financial ratio analysis by financial & statistical authorities respectively. Unfortunately these handbooks have been translated from foreign language or copied from internet directly & haven’t covered researcher’s treatments in detail. Thus many senior tutors & supervisors of studies, who conduct profitable for them foreign & domestic financed projects, couldn’t themselves create economical-mathematical modeling & actually they come running to copying every foreign models disregarding social-economics, historical & geographical specifics of home country. (6)   Independent researching groups privately sponsored have some advantages rather than state owned authorities as: conducting their activities & preparing any summary independently because of that they no accountable to the higher organs of power, researching copyright reserves in behalf of independent co-authors, sensitive in changeable business environment, isolated from bureaucracy & bribery. Survey shows that last period number of privately owned entities which engages bookkeeping, preparing financial & tax statement, financial & accounting consulting, conducting out of auditorium practice for accounting graduates via case training directly at outsourcing office, organization of professional seminars & providing lectures online etc. Many measures performed by Mongolian outsourcing association of accountants established at the end of 2010 efficiently reflected on practice, there is should emphasize that outsourcing entities of accounting are rendering favorable possibilities to achieve practical experience for final –year students under leadership of CPA at outsourcing companies. Graduates face shortage on entities needed in passing post training practice owing to half of 105 universities & colleges which run high education activities has economics faculties. Hereby I would like with pleasure introduce about one of leader company in the field of financial & accounting  outsourcing, Global account Corporation, which has started its activities under business title “ Professional service division of finance & accounting” at Erkhemchanar LLC since November, 2007 &  officially registered & established at the beginning of 2010 as legal entity, skilled & highly experienced working crew of which consists of professionals in the field of finance, accounting, taxation, social insurance, financial application programming, financial engineering, accounting modeling, statistical-mathematical approach & econometric calculus etc. Actually majority of its staffs were worked more than 10 years at position of chief & senior accountants, accounting managers, system analysts & have earned professional degrees of contractual accountant, adviser accountant, CPA, accredited tax accountant, who accumulated excellent experiences of all fields of business, marketing & non manufacturing service. Aimed goal of this company describes as following “Exchange of Mongolian intellectual potentials over the domestic & overseas markets”, & also below summarized main directions of its activities:

Providing consulting service:

ь  Professional consulting of financial management, accounting & financial statement analyzing,

ь  Consulting on legislation of social insurance & tax,

ь  Consulting & practical applications of financial & accounting programs.

Outsourcing service:

ь  Financial statement analysis, cost & management accounting calculus in complex,

ь  Preparing financial statements for companies & organizations,

ь  Creating accounting policy documentations corresponded to Mongolian Law of Accounting & International Standard of Financial Statements,

ь  Rendering services on social insurance & calculus of labor expenses,

ь  Preparing all kinds of taxation & their statements,

ь  Conducting tax controls,

ь  Carrying out internal financial control & managerial monitoring.

       Meanwhile numbers of its clients continuously rise & those already have exceeded half hundred, including Samsung electronics, Bars group-KhSTL  LLC, Trade center APTI, Khumana center. Also this company cooperates with following organizations: as National General Tax Administration, Mongolian Institute of Certified Professional Accountants, Association of Accredited tax accountants, Mongolian outsourcing association of accountants, Chartered financial analysts of Mongolia, TAMBAS program of European Bank reconstruction & development, Interactive LLC etc. If you would like to cooperate with Global account Corporation, please connect at link: email: email_gas@yahoo.com & WEB: www.gac.mn or www.e-tax.mn. Phone: 99108830, 98108830, 91108830, 94(01-04)8830.

        Indeed advantage of accounting outsourcing shows itself in following items: (1) providing outsourcing service by skilled & experienced professional team, (2) decreasing direct labor cost & manufacturing expenses with respect of accountant’s wage, his social insurance, office stationary, computer, internet & leasing etc, (3) economizing on fixed expenses as purchasing of computer application programs office furniture, (4) ensuring business securities, covering staffs with professional responsibility insurances, conducting proper internal control & effective external audit, (5) to regard as superior professional ethics of bookkeepers & accountants, fulfilling of social responsibilities for both sides of outsourcing provider & its clients, (6) rendering favorable opportunities to clients in saving capital budgeting, rising  business productivity of their brain workers via efficient exploitations of labor hours & the first putting know how into accounting practice & financial calculus etc.    

How to start innovation of textbooks for students at financial & accounting colleges

       After democratic revolution many changes appeared in the field of education throughout. Unfortunately   changes for the better in higher education are proceeding slowly. Adopted & carried out in practice new regulation of entrance examinations for leavers. Number of state owned & private colleges & universities decreased up to 100. Enact many projects, programs & forecasting plans. But innovations on textbooks for students at financial & accounting colleges haven’t seen still instead of translated several titles of foreign fundamental textbooks. I’m as independent researcher, reviewed majority of authors approach to internet information sources, or apply to references in English edition. Indeed I haven’t seen national textbooks for financial management, accounting, analyzing covered new ideas & modern methods associated with applied mathematics, statistical mathematics & theory probability. Many nongovernment & government institutions established & take activities with state & foreign financial support & assistance. But some of them mainly take account to earn financial revenue. Ministry accountable for high education didn’t finance publication of textbooks for economics colleges. Also all universities & colleges exempted from income & value added taxes. By the way textbook authors ought to pay individual income tax at 10%, in addition to that should pay selling commission from 24% to 31% in order to sell textbooks via bookshop network in capital city.  Sometimes use opportunities to sell textbooks countryside through national post network, but it needs in extra transportation payment.  In present tutors of financial & accounting colleges mainly use many titles of textbooks & handbooks in Russian or English edition, which had been published 20-40 years ago, sometimes textbooks translated or copied from internet, which had been published 20-40 years ago. Initiators of Mongolian association of chartered financial analysts worked hardly & are fighting to change above mentioned troubles on the forward looking way to get real changes in an innovation of textbooks for students at financial & accounting colleges. Many subjects & topics on finance, accounting, management & marketing teach in parallel without any concrete differences continuously during several semesters. But avoiding of putting modern subjects into curriculum & education planning at colleges mainly depends on desire for economy lecture’s wage & on account of shortage relative textbooks. As poor supply of best textbooks also no discovered criteria & gaps between bachelor & master training at accredited education organizations. Financial effective measurements & large–scale projects which finance international banking & financial, also humanitarian organization distribute already before their public announcement. We created & developed new direction in financial analyzing, especially in cost & managerial accounting which based on applied mathematics & science papers of national independent researchers & some of them already acquainted to readers via famous information network system Google .com under title”… T.Yondon’s science papers”, “ Mongolian association of chartered financial accountants”, “ Application of linear algebra & differential calculus in cost & managerial accounting” etc.   Recently has issued order of priority book in line of planned activities of association for 2011-2012, entitled “Financial statement analysis in mining industry“ which written by authors, Prof. T. Yondon & Gombo Dariimaa. The contents of book covered traditional ration analysis, correlation methods in financial analysis, ABC (Activity based cost) analysis approach, application of differential calculus & stepwise elimination of variables suggested by co-authors, modern innovated methods in allocation of manufacturing & operation expenses between service departments etc. Our personal point view is writing & publication textbooks which really correspond to specific situation of high education nationwide, national tradition, social-economics development level,  geographic location, climatic condition, foreign investment in mining industry & as well as authors  should write modern, scientifically, so practical textbooks basing on their themselves researching works. 

Accounting mathematics on education of economics college

        Prof. T.Yondon as initiator of Mongolian association of chartered financial analysts  along with members of his family independently has believed in his intellectual potential, of his  every effort making, & innovation desire, he primarily  with his full self- confidence putted first steps of accounting mathematics into curriculums of finance & accounting college, which  has opened new wide spaciousness for independent analysts. In order to overcome any troubles on the way of implementing new ideas & to delivering academic understanding of suggested with him accounting innovation to clients in first he preferred to issue methodological materials of training for college students of economics. He has considered traditional textbooks, & other tutor’s methodological materials translated into my native language, engaged in searching of information via internet communication, & made dealing with comparing analysis & matched appropriate abstracts of collected findings. Training plan of subjects on financial management, cost & management accounting, & financial statement analysis based on newly created with him accounting mathematics successfully have passed accreditation monitoring twice, which were demonstrated very evidence of recognizing his researching by governing body. For last lecturing period he aimed at impliment following mesurements:

·         To organize nonprofit institution’s activity for independent researchers, Mongolian association of chartered financial analysts,

·          Initiation & implementation of outsourcing in analytical accounting & financial engineering at economics colleges,

·         To carry out economics college’s lectures basing on self researching works, completed & putted into practice by tutors,

·         To innovate & develop modern accounting understanding in accordince with globalization & science integration, also deliver lecturing on accounting mathematics & modeling to learners at economics colleges,

·         To publish & distribute modern textbooks & manuscripts with covered new ideas of accounting innovation.

Below have been cited tentative training plan of cost & management accounting subject which had putted  into lecturing practice under initiated new idea by Prof. T.Yondon.

 However herein haven’t cited new methods created by T.Yondon which involved his other researching field of financial analyzing & accounting modeling.

Why need linear algebra in financial analysis

General understanding

           Indeed we used to apply ratio methods in financial statement analysis. But however many key indices change in opposite directions, some of them hike, others decline, sometmes they deviate as tsunamy waves of ocean. Obviously difficult to make optimal decision of solvency as for common staves of company in that doubtful & changeable situation. Analysts always face to determinate behavior for company in connection with past, present & future periods of development & evolution via working up empiric data applying statistical methods of researching. Uncertainty & natural trend of selected researching object require to applying of multiple discriminant score analysis, Bayes’ theorem, linear algebra & matrices operation. Meanwhile our co-authors primarily & extraordinarily have demonstrated feasibility application of linear algebra conversion in all of cost & management accounting topics. But then we have created several methods to solve pending problems, which led to the same exact answer. In order to give approciate academic understanding of regression approach to learners we issued simplified  handbook entitled “ Multiple discrminant analysis by hand method“, which will be used without applying to computer application program SPSS serials. In addition to that we have managed professional courses for persons who interested in possess of computer application program, SPSS 17.0, in connection with multiple discriminant function analysis by hand, which really rendered pleasant opportunity to improve comparable experience on both methods to learners simultaneously. We emphasize that next goal of association is all-round support & development of economics outsourcing in following field of activities : financial statement preparing & its analyzing, book-keeping, taxation & its payment, paying off debts, delivering & dealing with investment analysis in foreign mining companies. I think very important to possess skills on multiple discrimnant score analysis for commercial banks as which have wide relationship with many clients, & banks often face problems to determine solvency & bankruptcy among their clients.

Analytical geometry & isolation fixed & variable expenses

       Traditionally in isolation of mixed costs into fixed & variable use following methods:

·         High & low point’s method

·         Statistical scattergraph method

·         Method of least squares

In process of researching had been created with us below given methods which lead to the same exact answer:

·         Analytic geometry method

·         Differential calculus method

·         Linear algebra method

·         Gauss method

       To demonstrate efficient application & accuracy of obtained result above mentioned analytic geometry method had been chosen by any chance, however which give the same answer as high & low point’s method.  Here had illustrated only brief abstract of calculation of suggested analytic geometry method. To isolate mixed costs into fixed & variable parties we have cited to well-known geometric understanding of possibility to draw only line through two existing points, mathematical formula of which is as following:   (y – y1) : (y2 - y1) =(x - x1) : (x2 - x1). Where x2 =2600 is high level of labor hour, x1 = 2100 is low level of labor hour, as well as respectively y2 = $1300, y1 = $1100. If  substitute data in table1 to mathematical formula we shall get straitlinear equation y = 260 + 0.4 x. Indeed in this occasion I have used my pupil’s experience on geometry when I studied in secondary school in little village of Gobi desert.

      Assume below given relative data of leasing expenses for 6 months of A company.  Table1

If you wish to acquaint with many unique methods developed & created in line of activities of Mongolian association of chartered financial analysts we kindly as everybody, who really interested in further innovation of financial analyzing, please contact with us via my e- mail address, & enjoy researching papers written by Prof. T.Yondon along with his family members. By the way in order to more acquaint with activities of association we shall recommend to make searching “ ... Mongolian association of chartered financial analysts” on Google.com communication.