personal

Financial management decisions are divided into the management of assets (investments) and liabilities (sources of financing), in the long-term and the short-term. It is common knowledge that a firm’s value cannot be maximized in the long run unless it survives the short run. Firms fail most often because they are unable to meet their working capital needs; consequently, sound working capital management is a requisite for firm survival.

About 60 percent of a financial manager’s time is devoted to working capital management, and many of the potential employees in finance-related fields will find out that their first assignment on the job will involve working capital. For these reasons, working capital policy and management is an essential topic of study. In many text books working capital refers to current assets, and net working capital is defined as current assets minus current liabilities. Working capital policy refers to decisions relating to the level of current assets and the way they are financed, while working capital management refers to all those decisions and activities a firm undertakes in order to manage efficiently the elements of current assets.

The term working capital originated with the old Yankee peddler, who would load up his wagon with goods and then go off on his route to peddle his wares. The merchandise was called working capital because it was what he actually sold, or “turned over”, to produce his profits. The wagon and horse were his fixed assets. He generally owned the horse and wagon, so they were financed with “equity” capital, but he borrowed the funds to buy the merchandise. These borrowings were called working capital loans, and they had to be repaid after each trip to demonstrate to the bank that the credit was sound. If the peddler was able to repay the loan, then the bank would issue another loan, and these were sound banking practices. The days of the Yankee peddler have long since pasted, but the importance of working capital remains. Current asset management and short-term financing are still the two basic elements of working capital and a daily headache for the financial managers.

Working capital, sometimes called gross working capital, simply refers to the firm’s total current assets (the short-term ones), cash, marketable securities, accounts receivable, and inventory. While long-term financial analysis primarily concerns strategic planning, working capital management deals with day-to-day operations. By making sure that production lines do not stop due to lack of raw materials, that inventories do not build up because production continues unchanged when sales dip, that customers pay on time and that enough cash is on hand to make payments when they are due. Obviously without good working capital management, no firm can be efficient and profitable.

Statements about the flexibility, cost, and riskiness of short-term debt versus long-term debt depend, to a large extent, on the type of short-term credit that actually is used. Short-term credit is defined as any liability originally scheduled for payment within one year. There are numerous sources of short-term …

Bacardi is a great company that really knows how to present a lifestyle that any young guy or girl would want.

They do a wonderful job with the Bacardi Girls. I have a team of Bacardi Girls that I took with me to Palm Springs for a Dinah Shores event and they had the time of their lives.

They played in the pool while everyone was jumping in to get their pictures taken with them.

I had so many pretty girls approaching me and begging me to become a Bacardi girl.

I must admit, if I was a girl I would kill to become a Bacardi girl. They get to wear and keep some very expensive outfits. They get to go to all the cool parties and hang out with celebrities.

If their is a party and they are serving Bacardi, don’t look to far because the Bacardi girls will be around.

They bring so much pleasure to the event attendees that they beg for the Bacardi girls to stay.

To be a Bacardi Girl, you must be attractive and have a great personality.

I like to hire girls that are seductive and can seduce a man to listen to what they are saying. You want to be able to make a man drool when he sees you. A promotional girls job is to gain the attention of the targeted consumer and entertain them with a great conversation or games.

Girls that have a very nice body and the confidence to pull of a bikini are perfect to become a Bacardi girl.

Bacardi Girls typically make a lot more money than the average promotional model and they also make a lot more money than most college grads.

How many girls do you know that make over $4000 a month for a part time job.

There are millions of girls that are clueless about the promotional world and how much fun it is. When I am in Hollywood doing promotions, I can not believe the amount of girls that would approach me and not have clue how to become a promotional model.…

You have a business and you want short term working capital but you don’t know where and how to source it from? Business is full of uncertainties. Risks may occur in your business anytime that require finances.

Four Sources of Short Term Working Capital

1.) Your Own Savings

You can get short term working capital from your own savings without having to worry of paying any interest. But this amount may not be substantial enough to meet all the short term requirements of your business as it is usually small.

2.) Apart of the Long Term Borrowing

The long term loan you had borrowed can be used partly in financing short term requirements. Sometimes this amount may not be available as it’s already fully utilized.

3.) Bank Loans

Banks are the major lenders of money for short term periods. They lend loans for six months. This means that you have to pay them all their money plus a certain percentage of interest within the period of six months. You can obtain from them the secured or unsecured loans depending on the relationship you have with your bank. You may also take an overdraft or cash credit from your bank.

4.) Accounts Receivable

It is the smartest way of raising short term working capital especially if your business is always selling goods on credit basis. Here, the mercantile credit plays a great role in boosting your business transactions. You sell the goods on credit and your customers accounts are debited with the same amounts.

On the basis of your customer’s accounts receivables, you are able to get loans or advances from factors. When the money is received from the factors against these accounts, it’s termed as receivables financing.

Two types of Receivable Financing

A.) Ordinary Account Receivable Financing or Non Notification

This is a system of short term financing. You enter into an agreement with the financing institution which agrees either to purchase the non notification or advance you a certain amount of money against such non notification. Your customers are not intimated with this arrangement.

B.) Factoring

This is the arrangement whereby the factor buys accounts receivable (sundry debtors) of your business and assumes all the risk of non-payment. There is an agreement between you and the factor. The factor pays you money against your customer’s debts.

Five Differences Between Non Notification and Factoring

1.) Factoring assumes liability of bad debts while in non notification the seller is responsible for any bad debts.

2.) Factoring is responsible for the collection of bad debts while in non notification the seller is responsible for collecting them.

3.) Factoring forwards the invoices to your customers while in non notification the seller is the one sending the invoices to customers.

4.) In factoring the customer is informed while in non notification the customer is not intimated.

5.) Factoring is notification of accounts receivables financing while ordinary account receivable is non-notification of account receivable financing.…

Starting a limousine rental business these days is seen as a good investment choice. As the tourism and hospitality markets have been stable for decades, this investment venue is seen as a sector that will continue to experience steady revenue growth.

Although the competition is currently stiff, there always seems to be room for operators who are reliable and provide good-quality service that most customers look for. Limousines serve as an elegant and comfortable means of transport, and these are used for a wide array of events and occasions, such as corporate parties, proms, weddings, bachelor parties, city tours and out-of-town excursions.

The Limo Rental Industry Has A Lot Of Potential Clients

According to current data from Limousine and Chauffeur magazine, the breach of potential limo rental service customers are in the following areas: hotel and resort clients, night-on-the-town transportation, corporate shuttling, weddings, funeral transport, proms, and other Occasions. The business is usually broken down into two major aspects: Corporate / professional clients and occasional customers, and most rental firms specialize in either one or both.

Corporate customers span a wide range of businesses that use these services for ferrying their executives, clients and customers. Much of this service involves airport-to-hotel transportation, as well as shuttling clients to restaurants, theaters and other entertainment venues. Corporate clients can be at times, more demanding than the standard client. These people expect prompt and reliable service, particularly when the need suddenly arises.

Keeping Clients Satisfied Ensures A Successful Limo Rental Business

If you so wish to invest in this type of business, you need to do all you could make your customers happy, and satisfied. Be prepared to do a great deal of cold-call selling to capture these lucrative accounts, which include corporations, law firms, investment firms and banks.

As the occasional customer usually celebrates some sort of event; Whether it's a birthday, anniversary, wedding, bachelor party, office party or prom, you need to be prepared to serve the needs of diverse groups of people and events. Your advertising needs to focus on your ability and desire to make any kind of event feel special and memorable.

As with any type of business, you need to do a lot of research before you start operating. It is good to understand your competition, your target market, and the specific area you wish to operate. You also need to be creative in determining how you are going to make your service unique, and different, or better than the competition.

Once you're in operation, you need to ensure that you can facilitate inquiries, handle different sales accounts, deliver professional service and provide information to your prospective clients on a 24-7 basis. Your customers also need to get their questions effectively answered, and place orders at their convenience, without having to let them wait in line either on site or on the phone. You also can build and enhance customer relations by staying in touch with them via e-mail, or through opening an online website.

Http://miamilimo.biz – …

I filed Chapter 13 bankruptcy a few months ago. I have been documenting the experience to share with the people who will find themselves in need of this information in the next few years. It’s not a topic for casual conversation for most people, and the web is rife with e-books, courses, services and other junk.

I’m not an attorney, and I won’t offer any advice, and don’t intend this narrative to persuade you to take any particular action or opinion. This is just my experience, and of course my own particular perspective will shade it.

The story begins in 2005, when a business failure coincided with family illness and other non-financial problems. We struggled to cover our bills by selling personal possessions – furniture, TVs, a timeshare, tools, sporting goods and more. Finally, in early 2006, my husband found a job. By then we were more than 6 months behind on our credit card account payments, and struggling to get the mortgage and car payments paid no more than a month late. Relatives were giving us food, and I had become depressed to the point of thinking and talking about suicide.

Depression

The financial situation was complicated and worsened by my depression. I felt unworthy; incapable of making a decision, frustrated by my inability to find work while at the same time conflicted about actually having to give up self-employment and find a job again. And this, my friends, was the problem. Without some element of faith that I could feel better, I was hopeless and self-defeating. Until I found the means to believe in myself again, I was unable to move away from failure.

Happily, I did find a way out of my depression, and the answer was within myself. If you are feeling like I was, there is an answer, inside you, and your mission will be to find the way to connect with it. This article is not intended to help you find that answer. The path is different for everybody, and it may lie in religion, renewing physical activity, meditation, intellectual pursuits, or a combination of some of these, or something else entirely. You’ll know it when you find it, and if you listen, it’s probably already calling to you.

Exploring Credit Counseling/Credit Management Options

Two weeks prior to my husband’s return to work, I started believing that we’d find a solution to our situation. Up to this point I had been screening caller IDs, allowing the answering machine to take all calls from bill collectors. I began talking to some of the bill collectors to see if there was any way I could negotiate my way out of this situation, but it was really serious. I was beginning to get court notices that we were being sued by some of the credit card companies. Just when we had a paycheck to rely on, we faced the possibility of garnishments!

So, I wrote down the toll-free numbers of various credit help organizations I saw advertised, …

Why are ethics in business so important? Isn’t it enough to comply with the letter of the law and the rules of society? What’s in it for the business enterprise?

These are all interesting questions. Many business owners feel that maximizing profits is the chief obligation of the firm. Other owners feel that operating a business in a transparent, ethical manner is also important. Both business management and business ethics are about making the right decisions. Does one have to exist to the exclusion of the other?

I think not, and here are the reasons why managing a business ethically is important:

1. It sends the right message to customers and clients. With all the choices available nowadays, who wants to do business with a shady, ethically-challenged company?

2. It sets the right example for the firm’s employees. The temptation to cut corners or behave illegally, immorally, or unethically is reduced if employees are familiar with the firm’s code of ethical conduct and the certainty of its enforcement.

3. It can make the firm a desirable place to work. Recruiting, and then keeping, high-quality employees is far less costly than managing a turnstile where people come and go in bulk quantities.

4. It establishes a prism through which a company views not just normal business dealings, but the handling of extraordinary events or crises. When all options have been considered, asking “What is the right thing to do?” ultimately becomes the basis for action.

5. It provides a clearer focus for the firm. That clear focus is found not just in the tactical day-to-day operations, but in the firm’s strategic planning, as well.

6. It helps protect the interests of the firm. Ethical behavior doesn’t always insulate a firm from lawsuits, bad publicity, or other such negative and costly conditions, but it can certainly reduce the probabilities or mitigate the damage.

7. It helps protect the interests of everyone with whom the firm comes into contact. Will suppliers become more reliable if they know they will get paid on time? Will regulatory agencies be more helpful and accommodating? Will clients be more trusting? There is an obvious higher likelihood of the foregoing answers becoming “Yes” with a company who is seen as highly ethical, than with one who is not.

8. It promotes mutual respect and integrity. This can happen both within the company and from those whom the company deals with.

9. It promotes accountability. This can occur not just within the ranks of the employees, but with the top executives and owners, as well.

10. It can yield a reputation in the marketplace that can be beneficial and sustaining. Isn’t this a desirable condition for any company? If it isn’t, it certainly should be.…

Vehicle repossession may appear justified in circumstances where a person is generally being irresponsible and otherwise able to meet this financial obligation. However, what about that hardworking guy or gal who paid their automobile note dutifully for three years, and missed one payment? Why should their car be repossessed?

Basically, the lender owns your car until it is paid in full. Therefore, one missed payment is considered a breech of your agreement. It gets worse. After they take your car, they can sue you for what is called deficiency. Deficiency is any amount still owed on your contract AFTER your lessor sells your repossessed vehicle at–let’s say–an auction. Often they sell the car for less than they expected you to pay to get your car back. What do they care if they are going to sue you for the difference anyway?

I’ll explain it this way: Imagine paying $18,000 for a vehicle over time with maybe $5,000 left before the car is yours. You lose your job and fall behind a couple of months with the payments. Your vehicle gets repossessed. Now you must pay triple the amount of the two months you were delinquent because of added repossession and storage costs. You cannot come up with the money, so your car is sold at an auction for $1,500. The worst part: you are sued for the remaining balance of $3,500, plus the repo costs! What is the point of this? If they are going to sue you for the unpaid balance anyway, why not just give you the opportunity to pay the bill? Wouldn’t they come out better in the long run? Duh!

The repo man doesn’t care that your finances are in limbo because you have recently divorced or that your employer informed you in the eleventh hour that you were being laid-off. The repo man only cares about the fees that they will receive once they recover your vehicle. So, you must protect yourself.

Here’s an old fashion remedy for fighting the Repo man: If you know you will be able to come up with the money needed to pay your outstanding car note in a couple of months or so, switch cars with a friend until you get your finances straight. Better yet, HIDE IT in someone else’s garage for a while. Make sure it is someone you did not list as a reference on the credit application because the Repo man will definitely check their addresses in search of your vehicle.

I know a guy who switched cars with his brother who lived in a different state. Within three months, he straighten out his finances and paid his three month delinquent car note to date, plus late fees. He saved himself the high cost of repossession and storage fees, deficiency costs, and the embarrassment of

having his car repossessed (neighbors do watch).

The trick is to stay a step ahead of the repo man. Know their moves before they strike. This will help you prevent …

Human beings need different things to live in this world. However, nothing in this world is available free of cost. Everything has a price and one has to pay the right price to get ones need satisfied. However, we value the things based on our needs and the needs depends on the basis of our value system.

First, there are basic necessities like food, water, air, shelter, and clothing without which survival of the body itself is not possible. However, once these necessities are satisfied, man moves to satisfies his higher needs like the social needs, security needs or the need of self-actualization.

However, every person does not follow the same path as his path would depend on the inherent values ​​of the person. These inherent values ​​are accepted by the man by virtue of his nature and also by his nurture. The effect of the family, society, nation and individual makes every person unique as he develops a unique set of values. These values ​​decide the priority and lifestyle of the person. The values ​​make the personality of the person and decide the growth of the individual, family, society, nation and the humanity.

1. Individualistic Values

The most inherent value of a person is individualistic which means valuing the self over anything else in the world. This is also the most natural value which is inherent in every animal of the world. The animals live for themselves without much bothering about the other animals. The only exception would be the mother animal which takes care of her child animal till the child grows up enough to support itself.

The modern world has been moving more and more towards individualistic values ​​where the interest of the individual is considered to be the most "right" and needs to be protected over everything else. The individualistic value support freedom as it believes that every person has the right to decide what is good for him.

Every child starts with individualistic values ​​and he wants everything in the world for the self and wants everyone to serve him. When the need of the child is not satisfied, he cries and do everything to get the need satisfied.

2. Family Values

The human specie may be the most powerful specie in the earth but it is also true that human specie is also the weakest specie. A human child does not learn to even walk for one year. If the child of the man is allowed to survive of its own, it just can not survive. The support of family is must for the growth of every human child. It is for this reason that human specie over the year has invented the concept of family that lives like one unit and supports a new born child till it becomes strong enough to support itself.

The concept of family has given rise to the family value where a family is considered to be the basic unit of the society instead of the individual. The …

What is a personal business letter? It is a letter that and written by an individual and mailed to a company, business, or government agency. It is more formal than a personal letter or note.

There are eight parts to a personal business letter as follows:

  1. Return Address: this is your address, do not include your name, and list your street address, apartment number if applicable line 2, your city, state and zip code all on one line. Spell out the full name of the city and state (the official Post Office Abbreviation is acceptable also) and add the zip code. Note: if you are typing the letter on letterhead that already includes the address this part is not needed.
  2. Date: Enter today’s day on the next line. Spell out the full month, comma, date, comma and the year in 4 figures such as “2011”
  3. Letter Address: This area has whom the letter is sent to and their complete address. Write out the person’s full name on the first line:The street address goes on the next line or two as required.Write out the full name of the city, the Postal Abbreviation for the State followed by the zip code.
  4. Salutation: This is a formal greeting. Usually “Dear” followed by formal titles, i.e.: Mr., Mrs., Miss, Dr., or Reverend. If you are writing to a woman and do not know her martial status or which title she prefers “Ms.” Is acceptable. Follow the title by either the full name or just the last name.
  5. Body: This is the most important part of your letter. Use paragraphs properly. Be short and to the point so the recipient quickly knows the purpose of your letter. Give enough detail, but don’t use more words than needed.
  6. Complementary Close: Use phrases such as “Sincerely yours,” or “Yours truly”. Capitalize the first letter of the first word, lower case for the second word followed by a comma.
  7. Sender’s Name: This is where your name goes, skip four spaces between the complementary closing and your typed name. Use your first and last name.After printing the letter, sign your name between the complementary close and your typed name.
  8. Enclosures: If you are including any documents with the letter, such as a resume, product sample, or other explanatory documents, show that there is an enclosure by typing “Enclosure(s)” one line below the closing. You may list each enclosure by name, this is a good way to make sure that the recipient knows exactly what is in the envelope.

These are the parts and order of a personal business letter. It is assumed that you are personally typing this letter yourself, so there is no need for the typist’s initials.…

There are many uses of audited financial statements. Some of the common uses include submitting to the relevant authority such as company commission and tax offices. These are the two interested parties of these statements. Other interested parties include investors, creditors of the company and shareholders as well.

So, what are the purposes of audited accounts and why is it has to be audited before presenting or submitting to the relevant interested parties? Let us discuss some of the reasons as follows.

One of the main purposes of audited accounts is to provide the accountability, accuracy as well as financial credibility of a business. This is because all entities whether they are public owned or privately owned has to prepare a complete of accounts on their financial performance and position.

A unqualified audited report indicates that the financial statements prepared for a business are free from material misstatements, found to be correct and presented fairly according to general accepted accounting principles.

Another important reason of having your accounts audited is that it gives interested parties such as bankers and shareholders an unbiased opinion with regard to the credibility and accuracy of the accounts prepared by a company.

Interested parties especially bankers use audited financial statements to assess the financial performance and position of a business for loan approval purposes. Therefore, it is always mandatory for a business to submit its audited financial statements to the banks if they need assistance from the banks.

In a nutshell, audited financial statements are used by many parties. Thus, it is important for a business to keep its accounting records properly and on a timely manner.…