Category: Accounting

There are two stereotypes in circulation about aging and mental ability – a negative one and a positive one. We associate aging with becoming slower, less ‘on the ball’, and with memory loss. We also may link aging with the idea of wisdom and negotiation skills – useful for many contemporary social problems. In our…

In November 2006, Blogging Asia: A Windows Live Report released by Microsoft’s MSN and Windows Live Online Services Business revealed that 46% or nearly half of the online population have a blog [Blogging Phenomenon Sweeps Asia available at PRNewswire.com]. Blogging Asia: A Windows Live Report was conducted online on the MSN portal across 7 countries…

Life insurance is an underutilized, but potentially versatile and highly efficient investment vehicle. It is useful not only for wealthy families. An individual or family having a net worth of only $1 million or even less is financially able to fund an offshore, irrevocable life insurance trust (ILIT) that provides a life insurance benefit, asset…

You must make sure all of your quotes specify your property as a coach house property type, simply telling an agent in a huge call centre there are garages to cover, and them telling you ‘it will be OK’ – does not mean you are insured. You cannot be sure they have understood your Insurance…

As almost every professional bettor will tell you, backing heavy favourites is a sure fire way to the poorhouse. That’s common knowledge, right? Perhaps, but there’s one problem with that type of thinking: it’s dead wrong. The received wisdom is the linesmakers skew their odds on heavy favourites because the public love betting on the…

People hear the word “estate” and think that end of life financial planning is just for the extremely wealthy. They could not be more wrong. The extremely wealthy have the knowledge to surround themselves with attorneys and accountants that shield them from the perils of an improperly planned estate. The people most harmed by the…

Advantages of trade receivables 1. Trade receivables are not counted in the balance sheet because they are not replaced by their cash equivalent, and this improves the financial statement of the originator. 2. There is no need for the originator to wait for payments to be received from the receivables. Thus, the originator can continue…

A QPRT is a form of irrevocable living trust designed to reduce the amount of gift and estate tax generally incurred when transferring an asset to a beneficiary. According to law the QPRT is a suitable legal technique to shield an individual’s assets for their beneficiaries and protects those assets from creditors and judgments. An…