Updated on August 4, 2017 by admin
At the core of any successful business is a well organized management. Financial accounting is a very important tool for business. Aside from knowing strategies such as bookkeeping, marketing, advertising and production, a good and stable business must also have a competent system for accounting finance.
Whether you like it or not, accounting finance is one thing you cannot dispense with in the world of business. It is a very important tool in determining where and how exactly your money is being spent. Also, it is most important in terms of taxes and other pecuniary obligations.
Good Accounting Means Good Business
Accounting ensures you how much you have, how much you owe, and helpful in assessing the value of your business. Are you generating any profit or operating at a lost? Accounting records will answer your questions. Accounting serves as the proper recording tool of the financial status of any business. Fiscal dealings are best kept right on track with an effective accounting department.
A good accounting system within one’s business is a great help in making business decisions. This also shows how credible you are with other companies. Accounting does not only place you in a very knowledgeable stance, but it gives you that confidence by being armed with the facts and figures revolving around your business. Knowledge is power.
It is to your advantage if you are an accountant by profession. But if not, you can still do your own accounting if you are operating a small-scale business. However, if you have a big company it is advisable to hire a professional accountant especially if you do not have the time and the skill for it. You must realize that there are various strategies in keeping various kinds of accounts in a business.
It is also best to check the accounting firm’s competence, credibility and confidentiality issues. It is very important that in any business, you would be able to trust your accountant with sensitive information, including profits and sources of income your business is accumulating.
Accounting standards you should know
To the untrained and unsuspecting eye, accounting principles might seem hard, intimidating and complicated, but it is in reality very simple if you get past all those figures. All you have to know in accounting are these: Accounts are always divided into three types, namely assets, liabilities and equity. Each account is unique and simple yet forms part of the very foundation your business is operating on.
“T” accounts can be managed by drawing a T like figure with a left and right section divided by a vertical line. On the left side, you can place all your debits or the so called assets. On the other side, you can list down all your liabilities or what we call credits.
The general rule is that for every liability, there must also be a corresponding asset so that a balance will be achieved. If the credit is more than your debit then perhaps you are already …
Updated on August 10, 2017 by admin
If you are a single mother, you may be among the many single parents who struggle to make ends meet each and every month. Many single mothers have no credit, slow credit, or even bad credit. Many single mothers are young and have not yet had a chance to establish positive credit history. There are different types of loans that you can qualify for as a single mother regardless of you past credit performance and bad credit history.
Personal Loans For Single Mothers
A bad credit personal loan is a loan that allows you to meet any needs that you might have. Perhaps you need money for major purchases like furniture or a computer. Or maybe you want to take a trip, pay for a class, or even buy a car. You can barrow amounts from $5oo up to as much as $15, ooo when you are applying for this kind of loan. Your personal loan can be ether secured or unsecured. A secured personal loan requires you to pledge collateral.
An unsecured personal loan does not require you to pledge collateral. However most single mothers do not have adequate collateral to pledge, and their only option is the unsecured version of the personal loan. To improve your chances for getting approved in the amount that you need, you can always ask a creditworthy cosigner to apply alongside you. This person can be a parent or other relative, friend, or anyone who will agree to pay your loan payments should you become unable to do so. Many lenders will allow you cosigner to be released from liability of payment once you have paid a certain number of payments on your loan.
Car Loans For Single Mothers
Single mothers who are in need of a new or used vehicle can qualify in most cases for a car loan. Because a car loan is secured by the car itself (or other vehicle), lenders are more lenient when approving car loan applications. A car loan of this type is usually financed for a period of four to seven years, depending upon the purchase price of the vehicle and whether or not you have a down payment. Having a down payment is the best way to purchase a car because it will make your monthly payments lower and easier to manage. Car loans are usually for $20,000 or less.
Cash Advance Loans For Single Mothers
Another option is the cash advance loan. This type of loan requires no credit check, making it the easiest to get loan not only for single mothers but for anyone with inadequate credit history. This loan is made for a short period of time, usually a month or less, and typically around the time of your next pay date. The only requirements to receive a cash advance loan is that you have a checking or savings account and a job that allows you to bring home a weekly, bi-weekly or monthly paycheck. Single mothers who receive benefits from Social …
Updated on August 4, 2017 by admin
Sadly, because of these economically troubled times, many folks have been forced into situations resulting in a profound drop in their credit scores. Mortgage companies and other lenders can only offer cold shoulders when these folks apply for a loan. Recognizing a developing market, some lenders have stepped forth and are willing to extend credit to folks, even with those with bad credit histories.
Personal Loans Bridge the Gap
If you are seeking a $5,000 loan, the most efficacious solution for those who are under the burden of a poor credit history is the personal loan. Is you score near zero? Or just right there? You can still get a loan. Personal loans are the definite solution if you are in need of quick cash, in spite of your dark file in the credit bureau.
Market Responds to Those Who Need Bad Credit Personal Loans
Because of the plethora of folks with poor credit ratings, as mentioned above, some lenders have seen a burgeoning market. Interest rates may be higher because of the higher risk to lenders, but the loans have become available and the lenders have become very competitive. You may even be able to pick and choose to find the best rates and terms. Even if you have suffered judgments, defaults, or arrears, you should be able to get a loan and use it for clearing debts, paying medical bills, improving your home, or even taking a vacation.
Personal Bad Credit Loans Can Be Secured or Unsecured
Personal loans can be secured with a real-value asset such as a home, stocks and bonds, late model car, or other valuable possessions. These are used to secure the loan and can be seized by the lender should you default. Unsecured loans may be a little harder to find, but lenders are out there.
Diligent Shopping Is Key to Getting a Bad Credit Personal Loan
Banks and other brick and mortar financial institutions are not the only lenders. Look in the newspapers, the yellow pages, and go on line to see what is available. The easiest way is to go online. Just punch your browser and you will be rewarded with a wide array of lenders. You can even apply online. You can get a loan from the comfort of your own home and often have fresh cash in the bank within 24 hours.
Watch Your Back as You Apply for a Bad Credit Loan
You need to check the credentials of every lender you approach. If you fill out an application for a bogus lender online, that lender can take your information for identity theft and disappear. It is very easy to set up a legitimate site. You also want to be sure that the interest rates are within you ability, as they will be high since your are a risky borrower. You also want to be sure that the repayment terms are something you can handle. You do not want to default on another credit item with your credit …