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How Bail Bonds Agents Earn A Living

When a person is arrested in the United States, he or she is often afforded the opportunity to post bail. The process begins when a friend or family member pays money to have the defendant released. The money is held as a type of insurance that the person will come to court to answer the charges against him or her. If the defendant does not make his or her court date, the money will be forfeited after certain number of days.

What Are Bonds?

Because most defendants and their families cannot afford to pay the court, they often turn to bail bond agents for help. A person who sells these written promises is essentially a gambler who bets that the accused will make it to court on time. And since most defendants do, the agent lends them money at a high interest rate in the form of a bond.

Why They’re Risky

If all goes as planned and the defendant comes to court, bail bonds agents make a hefty profit by loaning money in an emergency situation. However, if the accused misses his court date, it is up to the agent to track him or her down. Missing a court date is often referred to as “jumping bail,” since it means that the person who posted the money could lose it. To ensure that this does not happen, agents employ bounty hunters, whose job it is to track down clients who have skipped town. The bounty hunter receives a percentage of the posted amount if he or she can successfully bring the fugitive to justice.

Why They’re Fair

While there is always a risk that a defendant will not show up in court, the system was created because it is unconstitutional to hold a person without trial for a protracted period of time. Since most courts have long backlogs of cases, it can take weeks, even months before the legal system gets to a new case. Remember, a defendant is innocent until proven guilty under US law, which means that bail gives potentially innocent people the ability to live their lives as they await trial.

How Much They Cost

Since all bail bond agents charge a percentage fee, the price depends on the size of the bond. More often than not, bonds are quite small and are used to cover relatively minor crimes that the defendant’s friends and family cannot afford to pay for. Though rates do vary, the standard fee is about 10 percent of the bail. So, if the amount were set at 10 thousand dollars, the defendant would have to pay the agent at least one thousand dollars.

What They Require

When bail is posted, it is often referred to as a surety bond, since it is meant to assure the court that the defendant will stand before a judge. If he does not, the burden of producing the fugitive falls to the bondsman. If he cannot track the defendant down and the police don’t nab him in a certain number of days, the bondsman will lose his investment.

Although a fairly risky profession, bail bonds agents can earn a nice living if they make the right deals.

When looking for professional bail bond agents, NJ residents visit Lucky 7 Bail Bonds. Learn more about our services at http://www.lucky7bail.com.

Self Employed Accounting Software Review And Importance

The best choice is often dependent upon the size of the business and the employment of full time accountants, accounting staff, bookkeepers or management of the accounting records by the proprietor. Every business needs to choose the most appropriate accounts package according to both the requirements of the business and the capabilities of the person or people who will operate the accounting solution.

Many small businesses do not benefit from sophisticated accounting software if the technical requirements of that software exceed the abilities of the users to produce efficient financial records and use the full capabilities of the accounting software to maintain a high level of financial control.

Alternatively a simple bookkeeping package may not offer the degree of financial control over such financial matters as debtors and credit control, creditors and cash flow liquidity that may be required. Financial control and cash flow is of supreme significance and importance when credit is tight.

Every business needs to maintain a set of books and accounts to satisfy the legal obligations to calculate the net taxable profit which has to be both declared to the taxation authority and provide sufficient financial records to support that calculation.

Up until the mid twentieth century it was common practise to produce accounts handwritten on paper, Typing being reserved for the final set of accounts for publication as required. Handwritten accounting records are largely obsolete for medium and larger businesses although still used by many small business organisations.

With the advent of computers accounting software has become the norm and there are many simple bookkeeping packages that can be easy to understand and offer sufficient levels of financial control for even the smallest business.

In essence each small business has a choice between preparing a handwritten set of accounts, using a simple bookkeeping package which could be based upon spreadsheets or a more sophisticated accounting software package that almost invariably use a data entry system into a database which can then be queried to produce the required financial control.

Choosing handwritten accounts would only be applicable to the smallest business where the proprietor had no employees, limited numbers of transactions and had full financial control without the need for written information. Such handwritten accounts would not be suitable for any business that required control over debtors and creditors or that needed to produce a balance sheet.

For those businesses that could suffice with handwritten accounts there are better options available such as using computer spreadsheets. Minimal knowledge would be required and the benefits substantial compared with being handwritten.

An accounting package based upon computer spreadsheets is suitable for most small business as it can be no more difficult than maintaining handwritten accounts but in an organised format. The sophistication of the format would be according to the ability of the designer of the accounting solution or the bookkeeping knowledge of the person preparing the accounts.

Accounting software written on computer spreadsheets have advantages in that they can save time in data entry, improve accuracy, can be changed to correct errors, highly visible and provide all the basic bookkeeping needs of a small business. Accounting solutions written on spreadsheets are normally limited in relation to financial control and medium sized businesses that require additional control over debtors and creditors may be more suited to a database accounting software system.

Generally if a business is large enough to employ a full time bookkeeper or accountant then that business potentially has the accounting knowledge and skills within the accounting function to use a database accounting system and achieve the additional financial control elements which become available.

Accounting software that uses a database has the facility to produce regular financial and tax reports, debtors reports and statements, creditors reports and statements, cash flow statements and a set of monthly and final accounting reports such as profit and loss accounts and balance sheets.

The disadvantage of such accounting solutions is that to get the most and best out of the system you also need to understand how the package works and how technically to obtain from it the benefits of increased financial control that are available.

The main priority in choosing any accounting package is to first determine the final requirements you need from that administrative system. If detailed financial control, particularly over individual supplier or client accounts is essential and the business is large enough to employ office based staff including an accountant or full time bookkeeper then a database system may be the appropriate choice.

If the business is smaller and requires detailed accounting records to support the year end financial statements while financial control is already sufficient to be in the hands of the business owner then accounting software based upon spreadsheets would probably be adequate. The degree of adequacy being dependent upon the level of expertise contained and automated within the accounts program.

Handwritten books would be the lowest choice. Adequate for some small businesses but only suitable if a computer based option was impossible.

Spirit of India book by A.P.J. Abdul Kalam (Reviews,Summary,Plot)

Spirit of India book by A.P.J. Abdul Kalam (Reviews,Summary,Plot)

Reflecting the concerns, aspirations and dreams of the Indian youth. Having tasted the fruits of development, Indians are hungry for more – more education, more opportunities, more development. But their dreams of prosperous and united India seem precariously close to being shattered as the demon of divisive politics, the gaping economic inequalities, the increasing terror and unrest within and at our borders tear into the vitals of the nation and the very idea of nationhood. Under such conditions how do we preserve the core and concept of India and aim for development’nnAddressing these concerns and providing some answers is Dr. Kalam who believes that at the heart of the nation is the individual and it is only when each individual citizen achieves success that the nation can succeed.

Book Details Book: Spirit of India Author: A.P.J. Abdul Kalam ISBN: 8183512046 ISBN-13: 9788183512046 Binding: Paperback Publishing Date:2012-06 Publisher: Reem Publications Pvt. Ltd. Number of Pages:88 Language: Telugu

About Author Avul Pakir Jainulabdeen Abdul Kalam (About this sound pronunciation born 15 October 1931 usually referred to as A. P. J. Abdul Kalam, is an Indian scientist who served as the 11th President of India. Apart from being a professor of aerospace engineering, he is also famous for his contribution to missile technology for India, pertaining to which he has been honoured Bharat Ratna award, India’s highest civilian honour.

He was born and brought up at Rameswaram in Tamil Nadu, being born in a poor family he had to work his way through average grades and financial hard ships, completing his studies in aerospace engineering at Madras Institute of Technology (MIT – Chennai). He joined Aeronautical Development Establishment of Defence Research and Development Organisation (DRDO), India and is known for his many contributions to Aeronautical and Missile technology of India.

P. J. Abdul Kalam was elected president of India in 2002, defeating Lakshmi Sahgal, and was supported by both National Democratic Alliance (NDA) and BJP, then major political party of India. After serving office as a president till 2007 he is now a visiting professor at Indian Institute of Management, Ahmedabad and Indian Institute of Management, Indore; Chancellor of Indian Institute of Space Science and Technology Thiruvananthapuram, a professor of Aerospace Engineering at Anna University (Chennai), JSS University (Mysore), and an adjunct/visiting faculty at many other academic and research institutions across India and is involved in philanthropic work as on 2012 .

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More Books

1. The Scientific Indian The Twenty-First Century Guide To The World Around Us by A.P.J. Abdul Kalam And Y.S. Rajan Price: Rs.250 Rs.238 Discount: Rs. 12 (5%) Delivered in 1-4 business days. Language: English

Binding: Paperback

2. The Scientific Indian The Twenty-First Century Guide To The World Around Us Book Summary of The Scientific Indian: The Twenty-first Century Guidento The World Around Us Turning Points by A.P.J. Abdul Kalam Price: Rs.199 Rs.159 Discount: Rs. 40 (20%)

Language: English

Binding: Paperback Turning Points

Key Features A memoir by the most popular president of India; a sequel to the million-copy-selling Wings of Fire

Pros and Cons of Stock Warrants

While stock warrants do provide a means of entering the share market without actually buying shares, they they do have pros and cons.

While stock warrants do have benefits they also have a downside that makes astute investors somewhat wary of purchasing them. Here are some pros and cons.

Pros:

* Buying stock warrants is much cheaper; it allows the investor to get shares in a company with less capital outlay. This is good if you are looking for capital appreciation as opposed to income.

* The percentage gain is often greater than if shares were purchased.

* Stock warrants have greater liquidity – at least at the present time. This is due to the promotion by marketers.

* The short to medium term often nets good capital appreciation.

Cons:

* Stock warrants can become worthless after they expire – not good if you are still holding them. Even if they were given for free as part of another deal there is that opportunity for gain lost.

* No dividends apply to stock warrants. So if you invest in stock warrants in blue chip industries you forego the dividend you would have got with buying the actual shares.

* When the prices of stock warrants change someone – buyer or seller – is going to be the loser.

So what is the best time or way to purchase stock warrants? If your assessment of the situation tells you that there is going to short or medium term gain you could buy stock warrants. You could also use them carefully by allotting a smaller percentage of your capital investment in stock warrants for the same financial benefit or risk that you would incur if buying the mother shares. Then you could invest your remaining (larger) portion of capital into something that is even better.

Mel writes about stock warrants among other finance related topics.

Scope Of Mergers And Acquisitions.

Mergers & Acquisition have gained popularity throughout the world in the recent times. They have become popular due to globalization, liberalization, technological developments & intensely competitive business environment. Mergers and acquisition are a big part of the corporate finance world. This process is extensively used for restructuring the business organization. In India, the concept of mergers and acquisition was initiated by the government bodies. The Indian economic reform since 1991 has opened up a whole lot of challenges both in the domestic and international spheres. The increased competition in the global market has prompted the Indian companies to go for mergers and acquisitions as an important strategic choice.

The trends of mergers and acquisitions in India have changed over the years. The immediate effects of the mergers and acquisitions have also been diverse across the various sectors of the Indian economy. Mergers and Acquisitions (M&A) have been around for a long time and has experienced waves of popularity during these times and they are very much an important part of todays business world. They have also become increasingly international which can be due to the rising global competition. The popularity of cross-border M&As makes it important to look at them from an international perspective

As a subject in PGDM one studies the aspect of valuation in Mergers i.e. how a company decides about the amount that has to be paid for acquiring. Basically M&A emerged as a strategic issue but now a days, valuation aspect has gained more popularity.There are thousands of investment bankers who are daily engaged in valuations and in the coming years this trend is expected more in Banking sector as well as other sectors too. So one should study this subject in PGDM as well as PGDM (BFS).One will find this subject very interesting as it involves knowledge from every field.

They are suitable for those studying advanced undergraduate and MBA courses in top MBA colleges, industrial organizations, finance, business strategy, and corporate governance, as well as those preparing for exams set by professional bodies. Mergers & Acquisitions focuses on how to value and analyze opportunities in this market; how to design and value consideration and deal protection measures; how to initiate and defend against hostile bids; and how to integrate businesses after a deal is struck.

The recent acquisition of Zain by Bharti airtel is a well known example of this subject as once you start reading about the deal your interest keeps on increasing about the day to day news because people attached with this field have a zeal to know what will happen next, whether this deal will show positive signs or negative signs for the stock market. Mergers & Acquisitions teaches both qualitative and quantitative analysis: most cases require a balance of financial techniques and business judgment grounded in institutional facts. The course seeks to promote good judgment in the evaluation, structuring and management of mergers and acquisitions.

Actuarial Actuarial Science, Actuary & Me

Actuarial Science? What are actuarial science and actuary? Are they the same things? According to Wikipedia, Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries. An actuary is a business professional who deals with the financial impact of risk and uncertainty. Actuaries have a deep understanding of financial security systems, their reasons for being, their complexity, their mathematics, and the way they work.

You can be a genius in mathematics but not must in actuarial science. Actuarial science is NOT ALL about mathematics, but involving lots of statistics, modelling, finance, economics, accounting and so on. So, even when you don’t end up as an actuary, you will still have other career options such as working in risk management, investment, etc. Hence, if you love mathematics, you will love pure mathematics. If you love applying mathematics (in business or economics), you will love actuarial science.

Actuarial science DOES NOT guarantee a HIGHLY paid job. Only qualified Actuary get paid in millions depend on the need in different countries. Fresh actuarial science graduate does not make you different from any other graduates at all. And, there are MANY Malaysians currently studying actuarial science. (JPA scholars, Bank Negara scholars, SC scholars, Khazanah scholars, UKM, UM, UiTM, USIM, UTAR, INTI, Taylor, HELP)

Its easy to get a bachelor’s degree in actuarial science. But it’s not easy to be an actuary. Undoubtedly, the route becoming an actuary is a very tough. If not, millions of people will become actuaries and the job prospect for actuaries will be really bad. My advice is thinking thrice before you make a decision to get into the program, don’t jump into it for the wrong reason, i.e. money. I know that some actuarial majors brag about actuaries getting paid millions, including me! Yes, it is true but take note that you only get paid well if you’re good in term of many things, such as soft skills.

Become an actuary, you must not have the actuarial science degree. You can become an actuary by taking any bachelors degree, but it is better to take something related degree, like mathematics, statistics, economics, finance, etc. The most important is the professional exams. But, most people who take actuarial science fail to become a qualified actuary.

What are the criteria to become an actuary? According to Be An Actuary website, you must have an excellent business sense with a knowledge of finance, accounting, and economics, keen analytical, project management, and problem solving skills, specialized math knowledge, strong computer skills, and solid written and oral communication skills. In addition, you must enjoy learning, like to solve complicated problems, enjoy writing and talking to people, can work effectively alone or as part of a team, are interested in a variety of historical, social, legislative, and political issues, and are self-motivated achievers.

After a short briefing of actuarial science and actuary, lets talk about Why Actuary? If I say I take this course not because the highly competitive salary, then you will definitely not believe me! To be honest, yes, the MAJOR reason I choose actuary as my career is because FINANCIAL FREEDOM (just a major reason, there are some minor reasons). Then, I thought that I have a moderate amount of logical, mathematical, and analytical ability. Since I do not want to teach, being more practical than abstract, mathematically, I thought that being an actuary would be all right. And as a not-so-bad student, I have no other choices! Because there is a myth in Malaysia: Best student always take Medicine, Engineering or Actuarial Science. Finally, I choose actuary as my career due to the myth.

If you are really interested in Actuarial Science, what I think is that getting a local degree or overseas degree is just the same. The most important is the professional examination. There are many ways to pursue actuarial science degree, since I am studying in local university, I just talk about the local one (Malaysia). For SPM students, you can try to get the scholarship, such as JPA/MARA (I think it will become easier to get this scholarship after the 308! ), Bank Negara, Khazanah, SC, Great Eastern and so on. If you didnt get it, you can try to get into Asasi UiTM (for Bumiputera only!), Matriculation, STPM or Private College/University, like INTI, Taylor, HELP ).

After Matriculation or STPM, with CGPA 4.00, you may do actuarial science degree locally at UKM, UM, USIM, UiTM. For non-Bumi, you just can gain the admission into UM or UKM only. One more option is UNITAR.

Well, for those who aspires to become an actuary but failed to get admission to the course, should not give up but instead go into courses like Statistics or Mathematics and start taking actuarial professional examinations.

The path to become an actuary involves going through a well-structured education plan. This involves university-level education and professional examinations, as well as other requirements. You should prepare and start your professional examinations since the first year you get into to University or College ( or even STPM ). For the professional examinations, you have to think about what are the options of societies or institutes.

For me, like my most other seniors, choosing Society of Actuaries (SOA). But now, I am still just a second-year, first-semester actuarial student. The road is still very long. I hope can finish 5 papers before my graduation. Here we go!

E-Accounting Problems & Propects

E-Accounting: Problems and Prospects

Shraddha Verma Assistant Professor G.C.R.G Memorial Trust Group of Institutions Lucknow

Abstract

E-Accounting refers to Electronic Accounting, a term used to describe an accounting system that relies on computer technology for capturing and processing financial data in organizations. The manual accounting systems consisted of paper ledgers, typewriters and calculators. Typewriters were used to type invoices and cheques, and all calculations were performed using calculators. Now E-Accounting or Online Accounting is new development in field of accounting which can save the cost associated in accounting, it minimizes the paper work, Thus, source documents and accounting records exist in digital form instead of on paper in an electronic accounting system. with the help of various management applications like ERP,CRM ,project management e-accounting can be done. In E-Accounting the accountant and employer both feel satisfaction because , this is cheap and without software defaults or failure . Your accounts saves in online server or database , so there is no need to record manually, it does not require any software installation. A survey will be conducted among accounting agencies in order to provide evidence for the hypotheses. E-accounting problems & prospects research paper able to find out some of the basic problems, and prospects in e-accounting in the field of accounting and the research is exploratory in nature. This paper is based on a limited initial review of the literature and provides a brief summary of the theoretical part of the study. It should be regarded as a research proposal of an ongoing research project and as such it may develop and change in the process.

keywords: E-Accounting,Accounts payable, Book-keeping, accouts receiveables.

Introduction

E-Accounting is new development in field of accounting. It means all your transactions will record in online server or data base. E-accounting involves performing regular accounting functions, accounting research and the accounting training and education through various computer based /internet based accounting tools such as: digital tool kits, various internet resources, international web-based materials, institute and company databases which are internet based, web links, internet based accounting software and electronic financial spreadsheet tools to provide efficient decision making. The terms E-Accounting and financial information system are used to refer to any accounting system that depends on Information and Communication Technology (ICT) for performing its information system functions. An E-accounting system could be thought of as an inter-organisational system because of its capability to electronically integrate a set of firms. In many operational applications the accounting entries can be generated as a by-product of the underlying transactions. A computerized accounting system is able to handle financial data efficiently, but the true value of an accounting system was that it was able to generate immediate reports regarding the company.

E-accounting involves performing regular accounting functions, accounting research and the accounting training and education through various computer based /internet based accounting tools such as digital tool kits, various internet resources, international web-based materials, institute and company databases which are internet based, web links, internet based accounting software and electronic financial spreadsheet tools to provide efficient decision making. Online accounting through a web application is typically based on a simple monthly charge and zero-administration approach to help businesses concentrate on core activities and avoid the hidden costs associated with traditional accounting software such as installation, upgrades, exchanging data files, backup and disaster recovery. E-accounting does not have a standard definition but merely refers to the changes in accounting due to computing and networking technologies Uses Accounts payable- is a file or account sub-ledger that records amounts that a person or company owes to suppliers, but has not paid yet (a form of debt), sometimes referred as trade payables. When an invoice is received, it is added to the file, and then removed when it is paid. Thus, the A/P is a form of credit that suppliers offer to their customers by allowing them to pay for a product or service after it has already been received. Accounts receivable- also known as Debtors, is money owed to a business by its clients (customers) and shown on its Balance Sheet as an asset. It is one of a series of accounting transactions dealing with the billing of a customer for goods and services that the customer has ordered. Bookkeeping- On a company’s balance sheet, accounts receivable is the money owed to that company by entities outside of the company. The receivables owed by the company’s customers are called trade receivables. Account receivables are classified as current assets assuming that they are due within one year. To record a journal entry for a sale on account, one must debit a receivable and credit a revenue account. When the customer pays off their accounts, one debits cash and credits the receivable in the journal entry. The ending balance on the trial balance sheet for accounts receivable is usually a debit. Business organizations which have become too large to perform such tasks by hand (or small ones that could but prefer not to do them by hand) will generally use accounting software on a computer to perform this task. Online Bookkeeping Process Understanding The Need V Pilot Project V Client Satisfaction V Agreements V Necessary Training V Actual Outsourcing V Implementation V Quality Check V Final Output

PRONTO-Xi Financials is a complete financial management software tool that allows you to automate many of your financial processes, establish greater security around those processes, manage cash flow better and gain enhanced insights into your operations. The functionality can be scaled up or down to suit your individual business needs making it suitable for businesses of any size. Integrate your financial management tasks to drive efficiency throughout your operations Focus on the data output rather than collecting the data in the first place Make better business decisions with accurate data captured and delivered to you in a timely fashion via robust business processes Complete set of financial tools including General Ledger, Accounts Payable, Accounts Receivable, Fixed Assets and Payroll

key functionality & benefits

Period End close – produce accurate quarterly and annual financial statements for individual business units or your entire business that comply with regulatory, organisational and stakeholder requirements. Corporate Risk and Governance Compliance – develop structures and business processes to comply with organisational and recognised compliance standards. Integrate your financial supply chain – strengthen every aspect of your financial supply chain with integrated, robust processes, including establishing electronic purchase request and authorisation limits. Streamline payments and invoices – improve your Accounts Payable and Accounts Receivable management and drive payment efficiencies. Multi-company consolidations – consolidate any number of companies quickly and easily. Cash flow management – track, identify and manage your cash flow, liquidity and your exposed financial risk quickly and easily via integrated, automated processes. Monitor financial performance – report on key financial metrics and develop an accurate understanding of your true financial position at any point in time.

Company’s all accounting project can easily outsourced by E-Accounting system:

A.P.O. A.P.O means accounting process outsourced APO is the new and developed form of BPO according to research report APO is growing very fast. This industry has jumped 60% annual growing rate. This industry has reached up to 60 cr. Of Rs.

Pay pal Payment system is popularizing in Online Accounting Some of Indian professional accountant gives the accounting services to USA customers under A.P.O. Now they can easily get their service amount from paypal way . Paypal gives you the facility of withdrawing your service fee with following ways:

a) If you want to deposit your service amount in your bank account in India for more than RS. 7000 you can easily transfer without any cost of transferring , if upto RS. 6999.99 you want to transfer in your account you will charge Rs. 50 b) You can get the cheque by giving request in the website under your paypal account c) You can also withdraw funds to your card also.

Willis and ACE Achieve e-Accounting First in London Insurance Market The London-based operations of ACE, a leading insurance company, and Willis Limited, the UK insurance broker, announced the successful launch of a full electronic accounting process between the two companies -a London Market Group (LMG) Non Bureau project first. E-Accounting is a data-based process for facilitating financial agreement and subsequent settlement of premiums and claims with insurance carriers, and replaces paper in the accounting and settlement process. E-Accounting substantially improves the quality, integrity and certainty of process, allowing Willis and carriers to synchronise their operations and improve client service. Implementation benefits include: prompt advice of premium and claims due, enabling simpler reconciliation improved settlement cycle resulting in speedier premium and claim settlement the secure exchange of critical closing and settlement information reduction in queries and early query resolution Graham Card, Executive Director and Business Lead for Willis’ e-Accounting roll-out, said: -London Market modernisation has long advocated the elimination of paper from the process and the introduction of electronic accounting. This is a major reform that will show benefits for both parties in the future.- -ACE are continually looking at ways to improve service to clients, making payment of premium easier and payment of claims faster. e-Accounting and closer collaboration with our clients will enable ACE to achieve this. -This project with Willis has been a great success with a real sense of partnership, and ACE is looking forward to working with Willis to expand the use of e-Accounting capabilities further with our clients and the wider market through the LMG sponsored Non Bureau project.- Willis and XL Implement e-Accounting London, UK, September 26, 2011 -The London-based operations of XL Group plc, a leading global insurer, and Willis Limited, the principal UK broking company of global insurance broker Willis Group Holdings plc (NYSE:WSH), announced the successful launch of a full electronic accounting process between the two companies. Through better synchronisation between brokers and carriers, the online system markedly improves client service by enhancing the quality, transparency and integrity of the accounting and settlement process. Willis Group Holdings plc (NYSE:WSH), announced the successful launch of a full electronic accounting process between the two companies. Through better synchronisation between brokers and carriers, the online system markedly improves client service by enhancing the quality, transparency and integrity of the accounting and settlement process.

However, with the introduction of PC-based Accounting Systems, both the computer hardware and the accounting software have become cheaper, creating an opportunity for organisation to adopt e-accounting. Nevertheless, there are several factors that determine whether an organization adopts e-accounting or not. Studying the factors that influence computer adoption, internet adoption and accounting software adoption

Relationships between company size and Internet Adoption

Company size Internet (No of employees) connected 50-99 41 % 10-49 30 % 1-9 16 % Objective

The objective of this research is first to describe the present state of the art of e-accounting in organisation bookkeeping agencies in U.P region(mainly lucknow) as well as identify managers’ intentions towards adoption of e-accounting ;what are the problems they are facing with the adoption of E-Accounting and the future prospects of E-Accounting system second to empirically study factors that influence the adoption of e-accounting, and third to study the problems that e-accounting may have in general and more specifically on the accounting procedures and practice in small and organisations bookkeeping agencies that have adopted an e-accounting system.

Research Methodology

The data for this research was collected by means of a questionnaire. Questions are both open ended and closed ended. The study was, for practical reasons, the research is done in the UP region (mainly lucknow) . Besides, demographic data including gender, age, position in organization, accounting background, professional qualification, experience in current system, level of understanding and knowledge related to the system, were measured by different scales. Finally a data of total of 90 persons were collected generating a positive response rate of approximately 35%. I have identified 12 questions that most effectively measure the no. of persons acquiring e-accounting in their organisation:

Q1. What kind of firm do you have?

Q2. How many no. of accounting staff do you have?

Q3. Does your firm use computers in operations?

Q4. Does your firm make use of accounting software in operations?

Q5. What kind of accounting software’s are used?

Q6. What are the aim of implementing E-Accounting?

Q7. What problems are faced by the firm while implementing E-Accounting?

Q8. What ways do you suggest for improving the system for easily access to E-Accounting?

On the basis of the data collected from both medium & small firms we found that only 35% of the firm out of hundred is successful in implementing E-Accounting. The firms like ACE & Willis a leading insurance company, and Willis Limited, the UK insurance broker, announced the successful launch of a full electronic accounting process and for the positive respondents the goal of implementing e-accounting are timely information management, large storage capacity, reduction of clerical work, cost effectiveness. Whereas for the left percentage 38.8% face problems like lack of constant supply of electricity, frequent breakdown of the system, inability to import/export data, inability of the system to support large volume of data or all of the former problems in implementing E-Accounting.

Findings and Suggestions

To further investigate the actual benefits of e-accounting, empirical studies of some ten small and medium-sized accounting agencies will be undertaken. These companies will be selected among the adopters group and chosen with the help of reference lists from software application providers and from information gathered in previous studies. The main data collection method will be face-to-face, structured interviews with managers of these organisations or, when necessary, telephone interviews. All interviews are planned to be tape recorded. The firms are facing problems in — Data security – All your data resides on a remote server: however, a back up can be taken regularly. Speed – Most of the currently available online office suites require a high broadband Internet connection. Lack some features available on the offline office suites: but this is progressively becoming available (MS LIVE, Google online-Suite, Think free, Zoho Office, Internet Office .Biz and e-Desk Online) A network connection (usually Internet access) is required to send and receive changes. That is, internet dependence makes it more difficult to work offline and also most of the firms don’t want to invest in purchasing accounting software. The results also indicate that interpersonal communication channels, such as training sessions and consulting, are considered as the most useful ways to achieve knowledge of new e-accounting innovations. Internet is also considered as a useful means of providing information. The use of accounting software makes the task easier and also saves the valuable time.

Conclusion

The study provides strong evidence that the use of E-Accounting has contributed to the effectiveness of tasks as expected. The study shows that the use of E-Accounting may improve the effectiveness of accounting and reporting tasks, budgeting, controlling and auditing which may reflect on the organizational effectiveness as well. An improved quality in the system may provide better support for the tasks performed by the system. This study finds that the most significant impacts of E-Accounting are on accounting and reporting and budgeting task performance respectively.Future studies could place more focus on the inter-organizational factors affecting the adoption rate. Moreover, future research could focus on the attitudes and resources of the business partners of accounting agencies. The contribution of this study will be twofold. First, the contribution of this study lies in the empirical analysis of the determinants of e-accounting adoption. The results of the study may give some evidence on the managers’ intentions of small and medium-sized accounting agencies towards e-accounting and thus predict future use of e-accounting systems. Second, this study aims at providing some understandings of the actual benefits of the use of e-accounting systems.

References

OECD, 1998. SMEs and Electronic Commerce. Working Party on SMEs to the OECD Ministerial Conference on Electronic Commerce. October 1998, Ottawa. http://www.oecd.org/dsti/sti/it/ec/prod/sme18e.pdf (October 7, 1999).

Amidu, M. and Abor, J. (2005), Accounting Information and Management of SMEs in Ghana, The African Journal of Finance and Management, 14(1), pp. 15 – 23.

Doost, R. K, (1999), Computers and Accounting: Where Do We go from Here? Managerial Auditing Journal, 14(9), pp. 487 – 488.

Accounting Act (AA, Kirjanpitolaki ) 1336/30.12.1997

Hall, J. (2007). Accounting information systems. Quebec, Canada: Thomson Higher Education.

http://www.experiment-resources.com/empirical-research.html#ixzz1d0dAXLDg

www.acegroup.com/uk

http://www.experiment-resources.com/research-paper-outline.html#ixzz1cjx5E1mq

Coping With Career Change

Lost your Job? Experiencing a sudden or unexpected career change? Worried about your future?

The emotional response to career change is similar to dealing with loss as characterized by Kubler-Ross.

Denial

There are typically two stages of denial that occur with sudden or unexpected career transitions. The first stage is typically very brief. There may be a short suspension of belief in which it is hard to imagine that you no longer have that job. The facts are pretty hard to deny, the position was there one day and you were gone the next day. Regardless of the circumstances, it is fairly difficult to deny when this fact when that door has been closed.

The second and more dangerous period of denial occurs when lifestyle is not altered, even though the income has changed. In many cases, denial is subsidized by a severance package, a golden parachute, or unemployment benefits. The employer no longer provides the ongoing checks or benefits coverage, but the income if otherwise subsidized and therefore lifestyle if not substantially altered. This form of denial can be very dangerous and should be quickly resolved. With time the severance package, unemployment benefits, or personal savings will start to diminish and eventually run dry. It is difficult to predict exactly when the next position or career will create a new source of income, and it is difficult to determine how the compensation and benefits will compare to previous position. When the change occurs, it is a very good time to begin assessing your financial responsibilities and expenses.

Each month as the credit cards statements, rent or mortgage, and other expenses arrive, use that as an opportunity to evaluate the necessity of the expenses that you incur. It is a common habit that expenses grow in proportion to an individual’s ability to support the expenses. Clothes, cars, and eating habits are examples of expenses that easily adjust with a person’s ability to sustain the expense. Subscriptions, hobbies, and miscellaneous expenses are often forgotten or disguised personal expenses. Every time that you pay an invoice, consider how that costs compares to your personal hierarchy of needs and how you can be a little more frugal in your expenditures. If you can reduce your expenses now, it will continue to bear fruit, even when your income is restored.

Anger

It is natural to be angry when events impact a person’s routines. It is natural to feel anger when events interrupt an individual’s ability to support a family or otherwise jeopardize financial responsibilities. It is natural, but is it productive? If the career change is due to personal lack of performance on the job, then there is nobody to blame but yourself. If the career change is due to financial hardship by the company, thereby resulting in overall job reductions, then there is nobody to blame at the company that is also struggling to survive. Organizations have a responsibility to support clients, customers, shareholders, and the remaining employees to the best of the ability of the company. Whatever the cause of the career change, the natural responses of anger and frustration lack direction and therefore offer no source of consolation.

Do you feel the energy that comes from frustration, anger, or enthusiasm? Emotions charge the body with adrenaline and create energy. Even negative emotions like frustration, anger, or worry can create an emotional charge that can be redirected into positive energy. If you sit still and let negative emotions take control, then you may find yourself drowning in continuous waves of negative thoughts and concerns. Rather than slip into depression or self-pity, use that energy to give you incentive to concentrate on positive projects. For example, invest your energy in reworking your resume. Begin making lists of opportunities and invest your time in researching companies that are showing positive growth. Start educating yourself on other aspects of your industry or profession. Use that energy that makes you shake with frustration to put your fingers to work on the keyboard, flipping pages, or dialing phone numbers. If you still have energy left over after you have worked every possibility, then go for a walk and release that energy with some positive exercise.

Depression

The hunt for your next career position may take some time. Economic challenges may restrict the job market and create seemingly overwhelming competition for a limited number of positions. Constant concerns, coupled with a sense of responsibility, can create fertile grounds for depression. If you feel this happening to you, remember that it is a choice and you have control over it. Depression occurs when you allow yourself to feel remorse because events and timelines are not occurring according to your plans. This does not mean that the forces of the universe are working against you, but it could be a strong indication that it is time to change your plans. Sometimes it is necessary to abandon your plans completely and pause to properly evaluate the options available to you. This may mean changing your lifestyle, changing your career, or allowing yourself to take an intermediate transition in another direction. Allow yourself the flexibility to adapt to the situations and opportunities that are available to you. This does not mean that you are settling for less than your full potential, but it does mean that you have the self-confidence to allow yourself to expand your talents and experience in previously unexpected areas. Allow yourself the flexibility to abandon or temporarily shelf those expectations that are causing your depression and give yourself the freedom to adjust your career or lifestyle to take advantage of what is available to you at the moment. When it seems that you cannot make any progress in the direction that you are going then allow yourself to move in the direction that gives your life momentum.

Bargaining

Once you have overcome denial and accepted the sometimes life-altering changes to control your expenses, and after you have overcome or bypassed the feelings of anger or depression, it is natural to begin a process of personal bargaining. This phase is the internal conflict of balances wants and needs with reality and resources. It is a process of justifying small concessions for the greater good. It means offsetting minor sacrifices by placating yourself with some rational of purpose or personal reward.

The process of internal bargaining can be a positive process if it means an awakening realization of the positive outcome of your decisions and actions in contrast to the investment of selective sacrifice. However, it is very important to consider the long term commitment associated with such bargaining. If the sacrifices are worth the return of a lasting career or long term relationship, then it is merely an acknowledgement of personal investment. If the sacrifice results in ethical conflicts or may otherwise require sustained commitment that you are not willing or able to make, then the bargain lacks substance and is doomed to failure. Do not negotiate commitments that you are unwilling or unable to sustain, not even to yourself.

Acceptance

Welcome to the club! There are millions of individuals experiencing various stages of career transitions. You are not alone and you are not really competitors. Each person is looking for the next opportunity to match personal talents and capability with the appropriate corresponding position. Likewise, organizations are searching for the most appropriate candidate in accordance with the job requirements. It is not a competition or a popularity contest. It is a giant puzzle in which all of the pieces are trying to find the perfect fit. As you look for your next opportunity, help those in your network to do the same. If you find a position that is suitable for someone else who is in career transition, take the time to make a recommendation and help good people discover good organizations. Helping others in your fellow career transitioning tribe may encourage them to help one another, and inspire them to help you too. Even if the favors are not returned, you will have the personal satisfaction of helping others.

Once you have accepted that your life has changed, there are countless new opportunities that are open to you. Be ready for new experiences and be prepared for more unexpected challenges. The experiences are all part of the learning process. You could have spent countless months or years in the rut of your routine, but you have been given an unexpected opportunity to apply your talents and experience in new ways. You have been given a personal invitation to expand your capabilities and to meet new friends. It can be unsettling when it is unexpected, but you can use this is an opportunity to invest in yourself and in your future.

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Words of Wisdom

“‘There’s new energy to harness, new jobs to be created, new schools to build, and threats to meet, alliances to repair. The road ahead will be long. Our climb will be steep. We may not get there in one year or even in one term. But, America, I have never been more hopeful than I am tonight that we will get there. I promise you, we as a people will get there. There will be setbacks and false starts. There are many who won’t agree with every decision or policy I make as president. And we know the government can’t solve every problem. But I will always be honest with you about the challenges we face. I will listen to you, especially when we disagree. And, above all, I will ask you to join in the work of remaking this nation, the only way it’s been done in America for 221 years block by block, brick by brick, calloused hand by calloused hand.”
– Barack Obama, Election Night Speech

“If government could create jobs and raise children, socialism would have worked.”
– George Gilder

“Emergencies have always been necessary to progress. It was darkness which produced the lamp. It was fog that produced the compass. It was hunger that drove us to exploration. And it took a depression to teach us the real value of a job.
– Victor Hugo

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How To Handle Your Inheritance Wisely

The receipt or notification of an inheritance is often accompanied by various conflicting emotions. On the one hand, you are happy to except the inheritance, be it a priceless heirloom, an object rich in sentimental value, or a cash windfall. On the other hand, you are faced with the fact that you are receiving this inheritance because someone, and likely someone that you cared very deeply about, has passed on. Mixed in with these sentiments is the urge-in the case of a monetary inheritance-to splurge on something that you have always wanted, be it a new car, a cruise, or an upgraded home.

When faced with all of these feelings and emotions at the same time, you may begin to feel overwhelmed, particularly if you are smart enough to realize that you should be investing at least some of your inheritance, but arent sure exactly how to go about it. This article is written with the assumption that you have received (or have been named beneficiary) of a monetary inheritance, and has been written in order to provide you with suggestions for managing said inheritance in a wise fashion. Listed below are five tips for handling your inheritance.

Determine exactly what you currently have, and what you are owed. In most cases, dispersal of your inheritance involves more than just a check from the executor of an estate. Instead, you will likely receive separate monies from individual investments. Usually, you receive these monies on a stepped-up basis, which means that the cost bases of the assets are determined as of the date of death. You should also be aware that you wont necessarily receive all of the assets at the same time. For these reasons, it is essential to sit down with your financial planner and determine exactly what the monetary value of your inheritance is, how it is invested, and what the cost basis is. It is also important to know where the money is coming from, since different types of accounts (like Individual Retirement Accounts or Insurance benefits) have different protocol for withdrawing funds. Remember that this is your money, so dont be afraid to be proactive and ask for it.

Make a list of your short-term and long-term goals. Of course, it is very tempting to spend sudden windfalls on short term goals such as buying a car, sending children to private school, taking that cruise around the world, etc. What you need to consider before you splurge, however, are your long-term retirement goals, and whether you will be able to sufficiently meet them. This is where your financial planner can be an invaluable asset, as they can work with you to help you develop a plan that provides you with future financial security and hopefully a little splurge room as well.

Decide on exactly how much money you want to use for a splurge. Once your spending plan is in place, and you are able to see how much money is available for meeting your short term goals, the next step is to decide how much of it to use to purchase splurge items. Most experts recommend setting up a separate account for this money. This way, when it is gone, you will be less tempted and able to spend any more of your inheritance.

Put the equivalent of three to six months of regular expenses in an emergency fund: This is something that you and your financial planner should discuss, and it is a potentially life and credit saving strategy in case of any type of emergency. This money should be put into a short-term, fixed-money market account.

Develop an investment strategy for meeting your long term goals: With proper investing, the money that you have set aside to meet your long term goals can grow substantially. While there are many options for investing, here are three that you may want to consider:

Life Insurance: Your long term goals may include providing financial security for your loved ones, and if so, you should consider putting some of your inheritance into a permanent life insurance plan. Life insurance beneficiary proceeds are usually not subject to probate, and permanent life insurance can also offer many living benefits such as tax-deferred cash value accumulation, the ability to borrow from cash value on a tax-free basis, and the eligibility to earn dividends as declared by the insurance company, although it should be pointed out that dividends are not always guaranteed.

Annuities: Many people decide to place their inheritance money in annuities to grow long-term funds for the future. Annuities are flexible, tax-deferred investments that can be used to help achieve long-term goals and provide a source of retirement income. The money in an annuity accumulates tax-deferred, which means that you will only pay taxes on your earnings when the money is withdrawn. You should know, however, that any withdrawals made prior to age 59 may be subject to a 10% IRS penalty tax.

Bonds: There are many different types of bonds available, and your financial institution as well as you financial advisor, can help you decide which bonds are right for your investment purposes. US Government bonds carry some tax deferment benefits, while other types, like mortgage bonds, require higher investment yields but are generally considered more aggressive. The type of bond that you choose should also reflect your investment personality and be consistent with both your short and long term goals.

However tempting it may be to spend your entire inheritance in one fell swoop, remember that the person who provided this inheritance to you did so in hopes that you would use it both wisely, and in their memory. You owe it to this person, as well as to yourself, to spend your inheritance wisely, and your certified financial planner is the person most qualified to help you do so.

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Benefits of Amethyst or Jamunia Stone

Amethyst Stone is also popularly referred with its Indian name of Jamunia. It belongs to the category of quartz gemstones. It is considered to denote for -Age of Aquarius’.

Greek beliefs consider Amethyst stone to be a deriver of good luck, love, contentment, and affection in one’s life. It is also believed to be a conqueror of all bad habits which calls for crossing limits to arrive at extremities of the wrong end. More precisely, one can get rid of acts such as alcoholism, drug usage, and homesickness with Amethyst stone. Egyptians hold a belief that it doesn’t let one fall under apprehensive feelings, or feeling oneself as guilty. It also protects one from witchcraft and artifice. In Bishop Community, Catholic Bishops wear Amethyst stone, and this is the reason behind also calling it as -Bishop’s Stone’.

Astrologically, Amethyst stone has been described to be a beneficial gemstone in some particular aspects. It is believed to create a shell around its wearer to protect him from anyone’s influence or seduction, as well as from the impact of poison and poisonous substances. It confers in the traits of humility, integrity, truthfulness, and spiritual wisdom in its wearer. With Amethyst stone, one remains calm and composed, and does not easily get into the stream of things. With it, one also attains financial stability in life.

Those suffering from health related problems such as headache, insomnia, and blood and breathing related ailments can also benefits a lot from Amethyst. By rubbing it over the forehead, one can sense a relief from headache. Those facing nightmares can overcome them and replace them with pleasant dreams by keeping this stone under their pillow. It also sways away all negative energies out of the environment, to fill it with positive energy. Amethysts stone is considered to hold a divine power to open one’s psychic and spiritual centers, to make one get more spiritually aware. Healers state Amethyst stone with lot of admiration, as it helps them to heal the sufferers from all sorts of past pains and sufferings.

Amethyst Gemstone and its Aspects
It is a beautiful astrological piece created out of the womb of God’s nature. It is available in various shades of violet, such as mauve, lilac, and purple. Among its various classifications, Amethyst of intense purple color is the most demanded. More precisely, amethyst which are intensely saturated, and whose with rose colored flashes over its shell are considered to be of the best quality. Among the Amethyst stone found in different parts of the world, those found in South America are considered to be the biggest; those found in Brazil, Uruguay, and Malagasy Republic are considered to be of the best quality; and those found in African region are considered to be the most intensely saturated.

It is highly recommend to those born in the month of January or February, those who belong to the Zodiac Sign of Pisces, and those practice meditation. In particularly, those who practice meditation are recommended to wear it in the form of a necklace.