This World #Forestday (March 21st 2024).
AJESH joined forest experts panel organised by #GreenpeaceAfrica to discuss the community participatory mapping as a tool to facilitates effective Forest protection and sustainable natural resources management.In addition AJESH contributed to the celebration of the International forest day through a workshop alongside @UCAC Advanced Contracting by supporting forests innovations as new solutions for a better world.#Earthinsigh#MINFOF#Rainforestrust#Mboahub#WorldForestDay
Training of Climate Change and REDD+ representatives
AJESH in collaboration with the Terra Global Capital, LLC, successfully conducted a 2 days training of Climate Change and REDD+ representatives from the different sectoral ministries of the Government of Cameroon (GoC) and some CSOs on: carbon Development, Carbon markets and Forest Reference Emissions Level (FREL).To this effect the government through the Ministry of Environment-MINEPDED in collaboration with AJESH and other partners will be supported financially and technically by Terra Global in conducting the FREL for the entire South West Region of Cameroon following the carbon market standards. #ajemalebuselfhelp#Ajesh#Basecamp#Act Commodities#Rainforest Foundation UK#Earth-Insight#Rainforest Trust#CEPF#CAFI#GFW#WRI#IKI#BIOPAMA#MINEPDED#MINFOF#MINEPAT
AJESH and Terra Global Capital training on Climate Change and REDD+
AJESH in collaboration with the Terra Global Capital, LLC, successfully conducted a 2 days training of Climate Change and REDD+ representatives from the different sectoral ministries of Government of Cameroon and some CSOs on: carbon Development, Carbon markets and FREL.To this effect the government in collaboration with AJESH and other partners will be supported financially and technically in conducting the Forest Reference Emissions Level for the South West Region of Cameroon. ajemalebuselfhelp Ajesh Basecamp Act Commodities Rainforest Foundation UK Earth-Insight Rainforest Trust CEPF CAFI GFW WRI IKI BIOPAMA MINEPDED MINFOF MINEPAT
Distribution of Dwarf Crocodile (OsteolaemusTetraspisCope,1861) Populations on the Outskirts of the Ebo Forest: Implications for Conservation.
Read our latest article on distribution of Dwarf Crocodile (OsteolaemusTetraspisCope,1861) Populations on the Outskirts of the Ebo Forest: Implications for Conservation. Pulished in the American Journal of Environment Studies. Dr James AyambaThomas TsiazeHarrison NnokoDr Juscar NdjounguepManual Venceslas Prossie
Closing meeting of the project ´Strengthening MPAs network, management effectiveness and efforts to end destructive industrial fishing in Cameroon’
On the 26 January 2024 Ajesh attended the closing meeting of the first phase of the project “Strengthening MPAs network, management effectiveness and efforts to end destructive industrial fishing in Cameroon (In MPAs, territorial seas and beyond)”. The presentation of the results and errors on data collection of the potential OECMs sites (other conservation measures by zones) was made by the data control team of the CWCS, then recommendations were given for a better improvement and understanding of the objectives of the project. The second part of the project will probably start in March.
AJESH participates in a meeting organized by MINEPDED
AJESH actively participated in the inception meeting on the project titled “Support to Nagoya Protocol implementation, research and development on biodiversity value chain for smallholders in the South West and Far North Regions of Cameroon”. The meeting was organized by the Ministry of Environment, Protection of Nature and Sustainable Development (MINEPDED).
Best practices in percentage of completion accounting
Ambiguity in scope or obligations can compromise the integrity of progress assessments and revenue recognition. Project teams should percentage of completion method be trained to document work completed in a systematic way, using quantifiable data that can be validated by the finance department. Input-based methods focus on the resources consumed during the project to assess completion levels. Following Accounting Standards and IRS Rules This accounting technique reports revenues and expenses based on the work completed during a given period, as opposed to waiting until the project is finished in the completed contract method. For more complex projects, consider using project accounting software to manage and update your EAC. Under ASC 605, companies could use the completed contract method, recognizing revenue only when a project was fully complete. Accurately identifying these obligations is crucial for proper revenue allocation and follows ASC 606 guidance. The important thing to remember is that contractors must be consistent in how they calculate the percent complete. Figure 2 shows the impact to earnings caused by the change in estimated contract cost. In construction accounting, the percentage-of-completion method allows companies to calculate and report revenue for long-term contracts as they progress, rather than waiting until project completion. This method aligns revenue recognition with the extent of work completed and expenses incurred. Under ASC 605, companies could use the completed contract method, recognizing revenue only when a project was fully complete. This was intended to be utilized fixed assets when reliable estimates could not be made, on very short jobs, or when there was a risk the project wouldn’t be completed. Fraudulent Use of the Percentage of Completion Method Every cost requires meticulous tracking for accurate and transparent financial reporting. Inadequate tracking can cause errors in revenue recognition and even financial misstatements. For more information on accurate cost tracking, check out this helpful resource. HubiFi’s integrations with popular accounting software make this process seamless. Learn more about our integrations and how they can simplify your cost tracking. What is the percentage of completion method? The approach serves to align the financial progress report with the physical progress of the project, thereby offering all parties involved a realistic view of the project’s development and financial standing. Construction companies dealing with long-term contracts must adhere to specific accounting principles and tax regulations. The Internal Revenue Service (IRS) has established guidelines under IRC Section 460, which determine how revenue from long-term construction contracts is reported. These guidelines have a direct impact on the timing of tax liabilities and the potential for tax deferral. Often, a long-term contract can be split into multiple smaller units delivered to the customer. The price, delivery schedule, units, etc., of each separate unit, are mentioned in the contract. Then the revenue is identified as and when the different stages of the investment is completed. Remote project teams and finance departments benefit from cloud-based platforms that centralize information and support real-time updates. Improve Financial Insights and Project Alignment This allows you to recognize revenue in the appropriate period and monitor the profitability of your contracts in progress. Typically, a long-term contract is one that spans more than one reporting period (or year). The percentage-of-completion method recognizes revenue proportionally to the amount of work completed on a contract. Inaccurate cost estimations can also significantly impact cash flow, especially in long-term construction projects where unexpected expenses or change orders can arise. Mitigate Risks of Financial Misstatement The percentage-of-completion method is essential in construction accounting, allowing companies to recognize revenue aligned with the progress of their projects. Below, common questions are addressed to offer a clearer understanding of its application and principles. This involves diligent record-keeping, timely recognition of revenue, and expenses, and accurate measure of project progress. Despite interest rate pressures, deal activity for these businesses remains strong as investors seek quality assets that can benefit from anticipated infrastructure spending and U.S. housing supply dynamics. In the past year alone, KSM’s Transaction Advisory Services Group has worked on more than 20 contract-based transactions in the automation, construction, and industrial services industries. The manager of Project A overbilled the customer by $2,000 in the first month, and the manager of Project B underbilled the customer by $3,625. The billing discrepancies probably arose as the managers billed before the end of the month and estimated the percentage of completion as of the billing date rather than the actual month-end. Think of it like checking your map on a road trip—adjustments are sometimes necessary to reach your destination accurately. The percentage of completion is calculated by comparing the costs incurred to date, such as labor, materials, and equipment rentals, to the expected total project costs. It enables project managers to monitor financial performance and make budget adjustments as needed. The primary reason behind using this accounting method lies in the inherent nature of these projects, which often take years to complete and involve significant amounts of resources, risks, and costs. Moreover, using the PoC method can lead to improved cash flow forecasting as revenues are recognized incrementally over the duration of the project.
AJESH Annual Meeting, 8th January 2024
🌍 Celebrating a Year of Impact and Looking Towards the Future On January 8, 2024, AJESH gathered in Limbe for our annual meeting – a pivotal moment of reflection, evaluation, and strategic planning. This meeting allowed us to delve into the intricacies of our internal management system, review the projects executed, assess their profound impacts, and strategically plan for the promising year ahead. Throughout 2023, AJESH embarked on a journey of transformative change, implementing 10 vital projects in Cameroon. Our focus remained steadfast on the restoration, protection, and sustainable management of key biodiversity areas. These initiatives directly touched the lives of more than 1000 individuals across 30 local communities, embracing the principles of environmental stewardship and community empowerment. In the realm of education, AJESH actively engaged with three schools, organizing over 60 students into environmental clubs. These clubs not only instilled a love for nature but also provided a platform for students to actively participate in environmental initiatives, nurturing the environmental leaders of tomorrow. The annual meeting was not merely a review but a strategic planning session that envisioned the way forward for 2024. With the successes of 2023 as our foundation, AJESH aspires to amplify our impact, explore new opportunities, and integrate innovative approaches to address emerging environmental challenges. In 2023, the individuals and communities touched by AJESH gained valuable skills and opportunities to protect their cultural values, preserve their land heritage, and sustainably manage their resources. Our commitment extends beyond the environment to include capacity building and improvements in livelihood conditions, ensuring a holistic and enduring impact. As we bid farewell to 2023, we express profound gratitude to our dedicated team, partners, and the communities who have made this journey of positive change possible. The path ahead is illuminated by our shared vision for a sustainable and harmonious future. Join us as we continue to strive for a world where communities thrive, biodiversity flourishes, and the environment is preserved for generations to come.