Articles by Tulasi S Sastri

How do we monitor power costs?

Tulasi S Sastri 25 April 2015 at 11:41

In medium or large organizations, “Power” is an important item of cost, be it in Manufacturing or Services Industry. Over the years, I had the opportunity to achieve savings in this area, and wish to share 5 of such instances, for the ben

How can we strengthen Procurement Function to achieve savings for your Organization?

Tulasi S Sastri 11 April 2015 at 12:17

Internal Audit report on the Procurement Function of Sure Shot Engineering Co. highlighted certain inconsistencies like inducting vendors with no apparent reason to d

Why do I consider Purchase Order, an important Internal Financial Control?

Tulasi S Sastri 30 March 2015 at 10:48

We all know that Purchase Order is a document, released by an organization, to a vendor, to make supplies of a specified item or material, at a given price, of specified quantity, quality and description. If the mandate to a vendor is for specified

Three distinct aspects of financial applications

Tulasi S Sastri 24 February 2015 at 16:16

Three distinct aspects of Financial Applications that help in Systems Requirement Study (SRS). What is SRS? By SRS I am referring to the exercise undertaken to understand and to specify the requirements of a Business Application for development. Ther

How can financial applications help in achieving business objectives?

Tulasi S Sastri 11 February 2015 at 18:00

General perception is that Financial Applications are mainly meant for book keeping, and that they do not have much relevance from business perspective. Probably this was true decades ago, when accounting was manual, historical, and produced financia

Bar code systems for transaction capture in manufacturing

Tulasi S Sastri 03 February 2015 at 10:43

Bar Code Systems for transaction capture in Manufacturing – Opportunity to save on data entry efforts and making it error free. Familiar scene to all of us at medical shops is employing bar code readers by chemists to invoice sale of medicines.

How to improve Productivity in F&A Function?

Tulasi S Sastri 06 January 2015 at 10:35

1. In F&A, normally understood processes are Invoicing, Purchase Accounting, Inventory, Accounts Payable, Fixed Assets, Accounts Receivable, Cash & Bank Operations, Payroll, Taxation, Period end Procedures, and Financial Reporting. 2. Uneven

Questions to ask while designing Employee Incentive Schemes

Tulasi S Sastri 30 December 2014 at 10:32

Performance Incentive Schemes have all along been considered an important tool in the hands of the management, to differentiate between high performers and others, and to suitably reward the former. Where the overall output is dependent on employee g

Contribution - the concept I love most

Tulasi S Sastri 24 December 2014 at 12:29

By Contribution, I am referring to Sales minus Variable Cost. In my four decades of working in Industry, I had applied this concept in many organizations, with great gains. For me today, it is perhaps the most important concept in Management Accounti

What is true MIS?

Tulasi S Sastri 16 December 2014 at 10:59

MIS is understood as Management Information Systems by many. However, it is also misunderstood by many, when it comes to what its true meaning is. I have come to think on these lines after seeing varied types of reports in different organizations, be