Small Business | Business

Gold – What is the Return on Investment (ROI)?

Posted on April 18, 2018 by

Investing in gold usually means a long-term investment for five to ten years or more. Is there a right time to invest in gold? Many people ask this question, since the price keeps changing, almost on an hourly basis. In today’s context, the gold price is on an upward trend and sometimes it retains the same value. Several financial analysts suggest that gold investment is a convenient, safe and value for money.

What is the root cause for the rise in value?

The price of gold is based on the value of the US dollar. The international trade is dependent on the common exchange currency. However, some analysts suggest that there is a possibility of a correction in gold prices due to profit booking.

If you deeply analyze the facts, you will find that the value of gold does not actually change very much at all. The value of gold over the past 200 years has hardly changed when compared with the value of other goods in market. If you compare one ounce of gold today, you will be able to purchase almost the same amount of goods as you could have done 50 years ago. The only change is the value of the currency and not the gold. Inflation, recession, all affect the value of the fiscal currency but generally do not affect gold.

What is the ROI?

However, One ounce of gold purchased in 1973 for $64 is now worth more than $900. In the long run, the outlook for gold market is strong as crude prices are rising and dollar is weakening.

It is likely that this scenario will continue and in the future years. Gold has always provided a high return over a long period of investment. The other factor, which adds to the increase in value is, decrease in gold mining (supply) and increase in demand. You are likely to get a ROI of 1000%, if you continue to invest in Gold for a long-term basis.

When is the best time to invest in gold?

The best time to invest in gold is right NOW! In fact it is always the best time to invest in gold. If you were to purchase a small amount of gold each month for the next 5 years, you would still beat inflation hands down.…

How To Choose a Financial Advisor

Posted on April 17, 2018 by

OK, you’ve made the decision. It feels great! You’re going to begin working with a Financial Advisor! But now, you have to find one. Where do start? What do you look for? How do you know that they’re trustworthy? What if you make a bad decision? Wow, it’s a lot of work. Maybe you’ll postpone this, and do it another time when you’re better prepared. Yeah, that makes sense, and it feels comfortable. Congratulations, you have just talked yourself out of it!

If this sounds familiar, that’s because it probably is. The selection of a Financial Advisor is an important one. But it’s not as grueling and difficult as many perceive it to be. In this author’s opinion, if you follow some basic, common sense rules, you should be able to easily make the decision and enjoy a very successful, educating experience.

FIND SOMEONE YOU LIKE

First and foremost (I almost hate to include this because it’s so obvious), you have to like the person. Find someone who you enjoy spending time with and talking to. Make it someone you could actually hang out with, someone who is genuinely appealing to you. Whatever criteria you use in this area of the selection process, now is the time to use it.

FIND A REFERRAL OR SOMEONE YOU KNOW

If you can, get a friend to refer you to someone they work with. This way, the Advisor is a known quantity and has an established track record with whatever attributes the person that made the referral feels they need to have in order to be worthy of referring out. Better yet, perhaps you actually know someone who you can work with. This makes the most sense for obvious reasons. Remember though that you will be establishing a business relationship in addition to whatever existing one you already have. Make sure this can be done.

FIND SOMEONE WITH TEN YEARS OR MORE EXPERIENCE

You need to find someone who has survived the high attrition rate associated with this industry. There are many reasons why they leave, but the important thing for you is to find one that hasn’t. Many Advisors you meet today will not be in the business two or three years from now. An Advisor with at least ten years experience has also most likely weathered a good and bad market. Let’s say you found a new Advisor back in the late 1990’s that had only a couple of years under their belt. They would have only seen bull markets, and have the feeling of invincibility when it comes to investing your money. And believe me, after the year 2000, and just after September 11, 2001, your new Advisor wouldn’t have the slightest idea of what just happened and how to handle all the panicked phone calls. And chances are, with only bull market experience, your Advisor you would have had you overly aggressive in your investing and as a result you would have suffered a serious loss. Besides, with 10 …

Differences Between Management and Financial Accounting

Posted on April 16, 2018 by

Financial and management accounting look at a business using different perspectives. Management accounting, also known as cost accounting, focuses in the internal needs of a company, while financial accounting concentrates on outside users of information. Financial statements compilation is associated with financial accounting. Budgets and cost variances relate to management accounting

Focus of Attention

Management accountants are concerned with planning and controlling operations, focusing on details, such as material costs. The more complex an operation is, the more likely it is to have more accountants dedicated to management needs, such as budgeting, and strategic planning.

Financial reports represent a business as a whole, while managerial accounting is often more goal-oriented and more specific to an area of a business. For example, a manager may ask accounting to give him a report showing sales numbers for the past two years. He is interested in only a part of the big picture.

Past versus Future

Financial accounting is concerned with the past, while management accounting deals with the future. Financial accountants want to make sure that historical data is compiled properly. They don’t care if expenses are above budget or about cost variances because they usually don’t provide budget information to outsiders. Instead, they focus on compiling data properly, following GAAP- Generally Accepted Accounting Principles.

Different Needs

Another area where financial and management accounting differ is that management accountants need to be nimble enough to provide internal reports on as-needed-basis as well as periodic statements. It’s common for accountants to run queries or setup reports without much lead-time. The point is to get the information to management fast. This is not the case with financial accounting, where accountants want to be precise and careful because reports go to users outside the business, such as investors or creditors. Financial reporting usually takes time and it is a planned event.

Accounting Systems

Generally in computerized accounting, the cost accounting system interfaces with the financial accounting system, feeding into specific accounts, such as inventories and cost of good sold. The company uses the cost system in its daily activities to control its processes and be able to assign costs to each part manufactured. Financial accounting doesn’t need to know costs of manufactured part A versus part B — these are particular concerns of management accounting only. Often, once a week or a month the controller runs an interface where information is transferred to certain accounts in the general ledger.

Usually if something looks odd or wrong in the financial system, the management program is used as back up and for research. For instance, if the transportation-in account looks too large, then the accountant could use the management module or system to get information on inventory and other purchases that could cause the unexpected variance.

Many times the same individual does management and financial accounting without realizing it. This is often the case with small businesses. In many instances boundaries between the two types of accounting are blurred and is not a problem. However, when dealing …

Taking Bold Financial Risks

Posted on April 15, 2018 by

'There is a way that seemed right without a man but the end thereof is destruction'

The above saying can be said to be true in some situations, but from the moment when I discovered the true meaning of wealth, I have never met a wealthy man who came into his fortune without having to take certain decisions, actions that seemed futile at that particular moment.

It is an obvious fact that making a headway in life requires a certain level of risk taking ability. Your ability to take the 'bull by the horn' in seemingly situations determines how far you go in life.

Let's take a case scenario of two brothers who happened to be farmers in a village far away from any natural source of water supply. Farmer A and Farmer B plant their crops at the same time in a land not too far apart from each other. After a while, the rains stop falling, farmer A is contending with the natural order of things, but Farmer B is not … he seeks ways to provide an all year round supply of water to his crops so he devises a means of transportation water from a faraway stream into his farm land. Now, farmer A tries to dissuade him by pointing out the various disadvantages of irrigation which includes over flooding. Farmer B despite knowing that he risked over flooding his small farm, persisted, ignoring the risk and thinking only of the advantages.

Sometimes, it is harvest time, both farmers cultivated their crops but as you must have guessed by now, Farmer B's harvest was more bountiful than that of his brother … in the long run, the end justified the means.

Now the difference between this two brothers is that one of them did things differently than what was regularly obtained. He took the risk of irrigating his farm despite the obvious risk of over flooding involved.

Now let's refer this story to the present day craze for financial freedom by Nigerians as a result of which most people have bought into the now popular mavorodian network known as MMM.

A lot of people call this scheme a scam simply because they are scared of losing their money, I mean nobody wanted to lose hard earned money especially in this period of recession. Most people want financial stability, but not the risks involved in achieving this stability and as such, they remain in the same position, year in, year out.

Bill gates, one of the world's richest man of all times, took a great risk when he took over the running of Microsoft world … the risk of immediate COLLAPSE but he was not deterred, he knew the rules of success, only the risk takers take it all.

My point being, it is a fact that nothing last forever, the mavorodian system, may not last due to some situations which includes greediness among-st participants, but those in the business of making money know that a good …

Accounting Degrees Online – Top 10 Choices For Online Accounting Degrees

Posted on April 14, 2018 by

Having a degree in accounting can shape your career beautifully since it is highly in demand nowadays. The best thing about accounting degrees is that now you can get them online as well. There are several managerial programs that are available and accredited as online accounting degrees.

So what are the different top 10 choices of online degrees? In the last five years, new online accounting colleges and schools have come up that have been offering great online accounting courses in asynchronous and blended formats. These colleges have industry specific courses as well as specialization courses that include short term programs in finance and accounting.

So, if you are confused about what accounting degree program you should follow then the information about these top 10 online accounting courses will definitely be helpful to you:

1. Masters of Science in Accounting

The advantage of studying for a master’s degree program in accounting is that it not only increases your experience and expands your career options but also offers you a high salary. With this degree program you will gain practical accountancy skills. Also, the program is designed for the students who are preparing for the CPA examination so that it satisfies the 120 credit hour needs for different professional certification degrees like CIA, CMA, etc.

2. Masters of Accountancy

This particular course in accounting is designed specially to prepare the students as certified professional accountants or CPAs. These different programs are conducted so as to bring different modules of CPA exam curriculum into the lime light. This is a degree that is relevant for accounting professionals and you need to have a minimum graduate degree in accounting, good GPA score and work experience so that you can take admission for it.

3. MBA in Accounting

The masters of business administration with an accounting major degree prepares a student by teaching the methodology of handling the business from an accountancy perspective. The program is beneficial for both non-accounting students as well as the accounting students as it helps them to explore the world of accountancy. This degree is beneficial for those people who are looking forward to start their new business. You will require a bachelor’s degree to become eligible for this course.

4. MBA in Professional Accounting

The masters of business administration degree in professional accounting is actually based on practice and application of the accounting methodologies in the way that it exists in the current profession. In this accounting degree a person learns and applies the different practical techniques and methods of accounting. Financial, auditing and managerial accounting are a few core subjects for this degree.

5. Diploma Courses in Accounting

Apart from going for the post graduate degree course you can also choose a diploma course in accounting. There are a variety of online colleges and schools that have various kinds of six month long and one year long diploma courses for people who are looking to gain more experience and knowledge in the field of accounting.

6. Bachelors …

Franchise a Family Business

Posted on April 13, 2018 by

A large family can supply needed employees

A franchise that has many employees working in it on different shifts is one that a large family could run quite well if the family members are so inclined. The family must however get along with each other, as they will spend even more time together if they work in the business together. Sibling rivalries can become even more pronounced when the family members need to spend even more time together. If the family gets along well together then this franchise idea may be a perfect way for the business to solve the employee need.

Another concern with using family members to work in the business is even the most harmonious families can be strained a little when they have to also spend their working hours together. Also if one of them is put in charge when the owner is not present, this must be explained and made clear that there can only be one boss running a shift.

A natural selection for assistant manager

If one of the family members is older and a natural leader of peers, then this person could be made the assistant manager or a shift supervisor. This has two advantages of letting the family member learn the business by running a part of it and being responsible of what happens when they are in charge. Some families have purchased a franchise in order to give a family member a job. In some cases it works and in some cases it is a disaster in the making. It comes down to whether the family member is capable of handling the job.

Other family-run businesses decide early to let their children learn from people outside of the family and these businesses bring in outside managers and supervisors on purpose. Smart help that is not related can create an advantageous situation for the younger family members to learn from. The removal of inside family authority can open the way for a better learning scenario.

Each situation must be judged on its own merits and handled with some care. Other employees can be affected if an incompetent family member is put in charge. This is a serious dilemma when it is done to good employees. They will resent the new boss and may leave when they become unhappy enough. Losing good employees over a bad decision like this can hurt the business in the long run.

Advantages of paying family members

When you give a family member money out of your pocket, you cannot deduct this money as a business expense. If you pay them to work in the business, this can be deducted like any other employee expense. The advantage to the owner is they get to use before-tax dollars to pay the family member. When it comes out of the pocket and is not a paycheck, this money is after-tax money for the owner. This tax advantage can be significant when larger sums of money are involved. This is …

eBusiness Solutions – Why Your Small Business Needs One

Posted on April 11, 2018 by

The rapid growth of the internet commerce in recent years

presents established small businesses with a serious dilemma. On the one hand you can stick with the business model that has worked for the last number of years. On the other hand, you can make the shift to serious eBusiness.

Choosing to stand pat is usually much easier in the short term. But in the longer term this almost certainly means you will be left behind by technology, and lose many of your most important clients to more aggressive competitors.

But shifting to eBusiness may involve committing substantial resources to developing a new game plan. That usually means refining product lines to make them easier to sell online, upgrading computer systems and websites, and training personnel at all levels to be more web savvy. It also means developing or hiring staff to handle the administration of new marketing, sales, and delivery systems, and working with outside consultants and service providers to handle the technical aspects of the new program that cannot be handled by your own people.

Is adopting an eBusiness Solution worth the effort?

Are the short term difficulties involved in making the transition to eBusiness worth the effort?

In virtually all cases, Yes.

It is like any other investment in your business. Some businesses look at the cost of upgrading production equipment or of renovating their office or retail space and decide it is simply not worth the cost. They decide the future is too uncertain to risk moving ahead, so they opt to tread water until either circumstances change, or they simply cannot continue any longer in business.

In this sense, choosing to stay abreast of technological changes is a business necessity. And these days deciding to get involved with eBusiness is the most important technological decision many current businesses will ever make.

Advantages of eBusiness

Here are some of the more important advantages of moving to eBusiness.

You can develop a more cost effective Communication and Marketing Strategy – The most obvious advantage

of “upgrading” to eBusiness is that it gives you a vital web presence. In an upgraded “eBusiness environment” your company web site becomes the focal point

of your communications and marketing strategy. And in an era when an increasingly large number of people are using the web as their first source of product and service information, “being there” 24/7 is extremely important.

You can reach New Markets World Wide – The internet offers exciting ways of reaching new markets that could only be dreamed of in the past. There are methods of promoting your products online that allow you to precisely target the

customers you are after whether they are in your town or on the other side of the world.

You can reach Local Customers and Prospects more effectively – Until recently, companies offering a product or service to local customers could not see the benefits of having an online presence. But as more and more people become comfortable with using the …

Dental Insurance – Taking Advantage Before the Year's End

Posted on April 10, 2018 by

Were you aware that if you take the full advantage of your dental insurance before the year ends, you can save a lot of money? A few dental insurance companies run on a yearly basis from the date you bought your insurance. For instance, if you bought insurance on the 1st of October, a year would have been completed on the 30th of September. However, most of the companies follow the calendar year. Now if your dental insurance scheme runs on a yearly basis year, here are few things you would want to now on how to save money.

A yearly maximum is the maximum amount of money that your dental insurance scheme is willing to cover for your oral health in a span of twelve months. Each insurance company has their own yearly maximum, but normally it is $ 1000 for each person every year. If you have not used any of this coverage by the end of the year, the unused money will not add up to your yearly maximum for next year.

Since you are giving your dental insurance premiums regularly, it is only wise to make the maximum use of the money you are spending. Even if you do not require any sort of major procedure, you should just have your basic cleanings done in order to avoid any future problems which may accumulate as a result.

The sum of money that you pay to a dentist from your own pocket is known as the deductible. Your deductible also depends from one insurance scheme to another. And this money also begins again at the end of the year.

The prices of dental treatments are rising with sky rocket speed. And it there are huge opportunities that the fee of a dentist will be higher the next year, so you should utilize your coverage as much as you can.

Also, not exploiting your dental benefits you are putting your oral health in danger as you may be at risk of having a disease or unnecessary surgery that could have been done earlier in the process if you had been getting your regular dental treatment.

So do not lose any more time, and enjoy your dental benefits while you can. You can also try searching on various alternative dental plan [http://getfreedental.com/] websites to help you find the information you need when you need it most and help you save hundreds or thousands of dollars in your local area. …

Blacks Must Enhance Credit Management Skills

Posted on April 9, 2018 by

Black colleges are often faced with a major decision, one that often times has little to do with their field of study, which pre-approved credit card offer they accept. Overall, "Generation Xers" have 18% of the credit cards but amass 25% of such debt. Lenders are recklessly issuing cards to those who can least afford them. For black consumers credit card use is often a means of extending their monthly imports. These individuals are burdened by interest rates that typically exceed 16%, higher fees and insurance premiums.

The end result has been African Americans having to use a larger percentage of their financial resources to pay off credit costs. This can serve as an additional hindrance to those seeking mortgage credit. According to the Federal Reserve, blacks are denied such credit more often than whites and pay higher costs for such loans when they do get them.

According to a study conducted by the public policy group Demos, blacks higher credit card balances can be due to the fact that they have lower imports, less access to financial education and higher unemployment levels. Black annual credit card debt is almost $ 750 more than that of white credit card users and envelopes black incoming. And once these debts become unmanageable, African-Americans must often resort to "legitimized loansharking" in the form of "payday loans," which typically charge interest rates as high as 30%. These loans are typically repaid bi-weekly, but the majority of these borrowers "roll over" their loans and after a year, cumulative interest can exceed 1500%.

Another faulty strategy is "credit card hopping," that is, switching from one card to another and continuing to do so in an attempt to minimize their debt. But such behavior causes lenders to become hesitant making loans, especially for big ticket items such as cars and homes.

Consumer columnist Julianne Malveaux asserts that many blacks that do attain wealth and keep their debts within reason often utilize poor investment strategies. Rather than investing in the stock market, bonds or even real estate, many –particularly those who are young and affluent – buy items such as clothes, jewelry, cars, furniture, electronics and appliances, which do not gain appreciation. In fact, many of these purchases depreciate.

Lenders are raking in record profits and pay little, if any attention to the record number of bankruptcies except in terms of how it effects their bottom line. Such corporations are seldom willing to assist blacks in their search for more credit-friendly programs. Author Robert D. Manning ("Credit Card Nation: The Consequences of America's Addiction to Credit," Basic Books) states, "Lenders know that once they have you paying month-to-month, it's hard to break free. people in debt, the longer the revenue stream persists. "

Blacks also fall victim to what are called "debt zombies." These are companies that purchase your old debts – even ones that are no longer in force due to expired statute of limitations – and demand payment or settlement. These "debts" are often reported to …

Fast No Credit Check Personal Loans

Posted on April 8, 2018 by

If you have a low FICO score but need cash, consider no credit check personal loans. These personal lending programs provide cash to honest people that need the additional financing flexibility without approvals being dependent on your credit rating. These options offer the same benefits as traditional loans but simply have different requirements for qualification and do not penalize you for any past financial difficulties that still reflect on your credit history.

Get Up to $3000 with No Credit Check

These lenders offer fast money and help honest, hardworking borrowers that are typically unable to get approved for loans from traditional lending institutions such as corner banks, and the big names of finance. Personal loans are approved based on your ability to repay the loan, through current employment primarily. They commonly will accept social security income or other agency regular income as well, and do not punish you for having a low FICO score, it isn’t even a consideration for many of these lenders. You can borrow the money you need, up to $3000 in some cases with no report needed. It is that easy.

Fast, Secure, Easy Online Applications

These programs can be applied for online from the comfort of your personal computer. They will typically ask for your personal information for the loan agreement, and for approval they will commonly ask for you to detail your current employment or income arrangements. Your checking account is used to wire your money into after your approval, and they typically ask for references for contact information in case you are unavailable. These lenders try to make the application and approval process painless and easy, and if they will require any further documentation for approval, it usually can be faxed or if you prefer a no fax option, they commonly will allow you to scan a document and email it to them. It’s that easy.

Borrow The Money You Need Today

Getting your money is made painless and fast by using a wire transfer directly into your checking account. For example, the typical loan process proceeds as follows: you apply for your loan, filling out the required documentations, your application is received by the lender, reviewed, and you receive via email an offer, which you are under no obligation to accept or decline. You then review the terms of the offer presented and decide whether you like the repayment terms, cost, APR, and rates offered. Upon your acceptance your money is deposited directly into your checking account, and you have access to it almost immediately after approval. In most cases, no credit check required to qualify. A streamlined process from application to approval, designed to get the money into your hands fast, when you need it.

Your personal loan offer is usually for a term amounting to your next payday, though if you need longer it is advised to contact your lender, as it is often negotiable to meet your needs. These easy to get loans are designed to help you the …