7 Ways A Financial Planner Can Help You

Whether we like it or not, finances have a massive impact on our lives. Embracing this fact early will help us get ready for whatever life might throw at us. We can set our goals and reach them step-by-step. Some of the things that you will encounter might be complicated but you don’t have to …

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How to Find Perth’s Best Mortgage Broking Experts Online

Are you going to choose a mortgage soon? It is, without any doubt, a challenging task and one of the significant financial decisions in life. There are many home loans available on https://www.quantumfinance.com.au. Each has its pros and cons. Anyone can get pretty much confused about what loan would suit their requirements. The best online …

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Trend Analysis of Financial Statements

What is Trend Analysis of Financial Statements? Trend analysis of financial statements helps the users of information to observe the percentage changes over time of the selected data. For example, it helps the users to observe whether the net profit of the enterprise is increasing, decreasing or stable, or there are ups and downs over …

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Financial Condition of India in 2020

Every country in the world is Dealing with the unforeseen challenges caused by the COVID-19 pandemic. The economic impact of the 2020 coronavirus pandemic in India was severe. The Coronavirus pandemic had a damaging effect on the Indian economy, which led India’s growth down to 3.1% in the fourth quarter of the fiscal year 2020. …

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Accounting for Sales Tax

What is the Sales Tax? The tax, called a sales tax, is collected from the customer by the seller and later paid to the appropriate tax official in the state government. Explanation Most state governments and some county and city governments in a country levy a tax on the retail price of goods and services …

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Cash Flow from Investing Activities

What Is Cash flow From Investing Activities? Cash flow from investing activities typically refers to cash generated in a company by making or selling investments and/or earning from it. Cash flow from investing activities is a major component of cash flow statement which is one of the four annual financial statements that are prepared by …

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Accounts Payable Ledger

What is Accounts Payable Ledger? Accounts Payable Ledger is a subsidiary ledger that lists the individual accounts of creditors; also referred to as the creditors’ ledger. What is a Subsidiary Ledger? A subsidiary ledger is a ledger that contains only one type of account, such as the accounts payable ledger. Explanation When a business has …

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Statement of changes in working capital

What is the statement of changes in working capital? Statement of changes in working capital is prepared by recording the changes in current assets and current liabilities during the accounting period. The working capital during the accounting period is bound to change due to increase or decrease in the current assets and current liabilities. Purpose …

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Funds From Operations (FFO)

What is Fund From Operations (FFO)? Funds from operations is the difference between the inflow of funds in the form of expenses. The funds from operations are the largest sources of funds which are used for repayment of loans, purchase of assets, payment of dividends, taxes, etc. Explanation The controversial point here is that an …

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Cash Flow Statement Practical Problems and Solutions

Cash flow statement practical problems and solutions are prepared by our professional accounting team for the students to get clear their concepts and prepare for their exams and interviews. Problem No. 1 From the summarized cash book of Zenith Ltd. calculate net cash flow from operating activities. Zenith Ltd.  Summarized Cash Book Particulars $ Particulars …

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Cloud services for accounting

Using cloud services can benefit your business in a host of ways, especially when it comes to accounting. More and more companies have been seeing an increase in their efficiency after moving to cloud accounting. Cloud accounting can help you manage your financial affairs much more effectively and deliver all the clarity that you require. …

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Benefits of Using a Construction Management Software

We are living in a golden era of digitalization where everything is literally running on wheels under the influence of technology. Construction companies are also moving forward at a very high rate. The competition in the world of construction industries is pretty tough, and that’s why every construction company is looking for ways to handle …

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How a Cloud-Based Accounting Software Can Ease Your Everyday Business Operations

Before cloud-based accounting software came along, bookkeepers and business owners had to sit for hours trying to manage their accounts. They needed to manually record every transaction, send invoices to the clients, and pay the vendors. Most of the bookkeeping activities got done at the end of a month or a fiscal year. However, so …

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Five Ways to Improve Your Credit Score

When you apply for a credit or a loan, the first thing that lending companies would check is your credit score. Your credit score indicates your creditworthiness, it shows how risky it is to lend you money. Lenders used this to know how well you have used credit in the past to decide whether they …

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The ABCs of Frugal Budgeting for New SMB-Owners

Every new business owner has one major goal to achieve – keeping their business costs low to ensure profitability and long-term sustainability. In other words, being a successful manager of a small or mid-sized business doesn’t only require proficiency in core professional skills. The key thing is to learn how to harness your expenditure while …

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No Deposit Electricity vs Deposit Plans

Every choice comes with a consequence. Once you make a choice you must accept the responsibility. You can escape the consequences of your choices, whether you like them or not. So be very careful when you choose between two things, evaluate your choices and choose what is best for you. Make sure you have looked …

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Forex Millionaires Stories: What they teach us?

Introduction You may have heard about Forex Stories, but do you know what this word means? Forex refers to foreign exchange, a global market for the exchange of national currencies with one another. There are many Forex stories, but becoming one overnight is a result of someone who had a plan, a mentor, a strategy, …

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Company Final Acounts Practical Problems and Solutions

We have prepared Company Final Accounts Practical Problems and Solution paper for the ease of students to understand the concept of Final Accounts more clearly. Problem No. 1 For the year ended 31st December 2019 the profit of Krebs Ltd. before changing depreciation on fixed assets and Managerial commission amounted to $300,000. Depreciation for the …

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Underwriting of Shares Questions and Answers

Underwriting of Shares Question No. 1 (Partial Underwriting) A Company issued 100,000 shares of $100 each. These shares were underwritten as follows: X—-30,000 shares and Y—– 50,000 shares. The public applied for 70,000 shares. Determine the liability of X, Y and the Company. Answer Marked applications are not given in the problem. Therefore, applications be …

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Is Public Liability Insurance Meant for Business or Professionals As Well

Why laziness comes in between securing financial losses that could happen in the coming future? Why is financial loss taken for granted in the businesses? Why are businesses unable to cover their miscellaneous expenses raised by third parties in the form of claims or medical bills? One significant possibility could be non- awareness of insurance …

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10 Financial Hiccups to Look Out for When Starting a Small Business

Pandemic or no pandemic, there are always financial challenges that new small businesses have to lookout. Still, most people dream about starting a sophisticated and profitable business based on unique ideas. In fact, new small businesses have to be more due-diligent and considerate to achieve growth. In the US, there are more than 30 million small …

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Issue and redemption of debentures practical problems and solutions

Issue of Debentures Journal Entries Practical Problem No. 1 A company issued 1,000 10% debentures of $100 each at par, payable $40 on application, and the balance on allotment. The public applied for 800 debentures. These applications were accepted. All money was received. Give Journal entries. Solution Issue of Debentures for Consideration other than Cash …

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Redemption of Preference Shares Practical Problem and Solutions

Redemption of Preference Shares at Premium Practical Problem No.1 A Limited Company issued on 1st July 2000, 10,000 redeemable preference shares of $10 each. Such shares wee redeemable at a premium of 10%. Two-fifths of this issue was redeemed out of profits on 10th January 2004. On 20th January 2004, the Company issued 20,000 equity …

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When‌ ‌to‌ ‌Know‌ ‌It’s‌ ‌Time‌ ‌to‌ ‌Outsource‌ ‌and‌ ‌Free‌ Your‌ ‌Time‌

Most people start businesses to improve their quality of life. The company they found offers the potential for a real purpose in life, as well as a much larger income. Sometimes, though, starting a company can go from being something positive to an activity that eats all your time. Accounting activities take up a lot …

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The Basics of Small Business Accounting

When first starting your new business, it can be very easy to overlook arguably the most important aspect: The Accounting. Whilst you may be fantastic at your profession, you may be less enthusiastic about math, or working with at first glance, complicated tax returns and expenditure logs. Unfortunately, to successfully run a business you do …

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5 Frequently Asked Questions About Journal Entry

In a world of cloud technology and automated accounting tools, creating a manual journal entry may feel like churning butter or washing your clothes in a creek. Everything was once entered into paper journals, which contained all the accounting details until they were transferred to the general ledger (also made from real paper). So, what …

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Acquisition of a Business

What does the acquisition of a business mean? While dealing with partnership accounts, we have seen that a sole proprietorship or a partnership firm, doing business more or less on the same line, may be converted into a firm in order to get the advantage of securing the economy and to avoid competition. Similarly, a …

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Car window replacement cost assessment

Car Window Replacement – Should Abrasive Window Fix or Supply? Damage to even the smallest stone can cause a chip in the car window, and even the smallest chip or scratch will eventually cause a long break. In the same way, the gap in the car window gradually becomes visible on a bright day. Leaving …

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A project-based learning method as a tool for effective management of technology education

Project-based learning is one of the most popular forms of work organization with students. In recent years, it has become increasingly widespread in the education system of various countries of the world. The project method is the organization of training where students acquire knowledge in the process of planning and performing practical tasks – projects. …

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12 Reasons to Outsource Your Accounting

A number of business owners have certain prejudice when it comes to outsourcing. Some believe that the quality of outsourced work is poor, others that it doesn’t pay off, while some simply aren’t familiar enough with the benefits of outsourcing. It is true that sometimes outsourced work is not up to the highest standards. However, …

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Your Guide To Kickstarting Your Career In Stock Broking And Investing in 2020

At one point in time, only an exclusive set of MBA graduates working for institutional brokerages and financial companies took part in stock trading. Over the next several decades, trading became highly democratized thanks to electronic communication networks (ECNs) that handle most of the trades online. In 2020, when people are encouraging alternative, different career …

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Cash Account

What Does Cash Account Mean? The cash account is first explained as part of the ledger system. Some students may already be familiar with the simple recording of receipts and payments of money. The main rule for all cash accounts is that you debit cash coming in and credit cash paid out. Setting up a …

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Source Documents

What are the source documents in accounting? In order to complete the accounting records, a bookkeeper needs to have source documents to work from which show what the financial effect of the transactions is. Types of Source Documents The source documents themselves are introduced here. They come in many different shapes and sizes, but they …

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