Category: Accounting

Here it is, the year 2021 and gender discrimination is still, unbelievably, an unresolved issue in far too many workplaces. Despite attention being drawn to the issue for nearly fifty years there still exists a fundamental unfairness in how women are treated in employment environments that are either directly dominated by male senior management or…

Sir Isaac Newton’s third Law of Motion, the law of reciprocal actions, states that for every action there is an equal and opposite reaction. The same can be said for accounting. For every financial transaction, there are two sides. There is a debit side and a credit side. For every transaction, these sides must be…

The purpose of a discharge is to “release an honest debtor from his financial burdens and to facilitate the debtor’s unencumbered `fresh start’”. In re Pelkowski, 990 F.2d 737, 744 (3d Cir.1993) (citing Kokoszka v. Belford, 417 U.S. 642, 645-46, 94 S.Ct. 2431, 2433-34, 41 L.Ed.2d 374 (1974)). The general purpose of a bankruptcy case…

The Law of Attraction and What the Bank didn’t say about Wealth Creation “Spend, borrow; borrow, spend,” the bankers urged. “No credit, slow credit, bad credit, no problem. If you own you own home, we’re got a loan for you. No equity needed.” We see it every day, a new way to loan money, extend…

There are two sets of accounting rules accepted for international use: U.S. standards referred to as Generally Accepted Accounting Principles (GAAP), and international standards known as International Financial Reporting Standards (IFRS). The first is developed by the Financial Accounting Standards Board (FASB), whose power is derived form the United States Securities and Exchange Commission (SEC)….

Sometimes you tend to get into the downward spiral of debt and there seems to be no ending. You feel you are paying too much on your credit cards and loans. You get aggravated because you are unable to find any solution to your loan problems. However, a debt consolidation loan, if used correctly can…

“After heavy financial crunches in the economy, for a corporate entity, it is quite significant to have a perfect blend of various capital sources to ensure good returns and overcome from the depth of losses.” Here, some crucial terms have been defined with reference to the financial system of a company: CAPITAL STRUCTURE The types…

Whether you are running a business or having your own restaurant, it is your duty to protect it from liabilities. The public who are coming to the office premises can face several problems or accidents due to negligence of employees who are working in office. These results in liability claims and situations come when you…