Category: Accounting

Growth and the management of growth present special problems in financial planning. Growth is not always a blessing. Many companies are in a financial predicament, have cash flow problems or even go bankrupt while they have full order books. There can be several causes for this phenomenon. One of the major causes, however, is the…

Many people incorrectly believe that only millionaires need to implement a Living Trust as a primary component to a foundational estate plan. For any person whose total individual estate exceeds $100,000, a Trust should be created. Remember, that $100,000 number includes your home, your bank accounts, your car, your brokerage accounts, jewelry, paintings, baseball card…

Robert Kiyosaki’s best selling book Rich Dad, Poor Dad has been read by millions worldwide. If you haven’t read this book then your missing out. Robert Kiyosaki had a rich dad and a poor dad, the poor dad had a stable job but didn’t manage money well and therefore was poor, the rich dad built…

Are you excited about purchasing your first home? Or maybe this isn’t the first, but you should be excited anyway! It’s a big step and a big decision. Finding the right mortgage loan is key. The key to saving yourself money and probably a few headaches down the line. Here are some helpful hints on…

Rich Dad Poor Dad has been reviewed by many writers. The book, written in 1997 by Robert Kiyosaki, immediately became a success. The concepts expressed therein are the foundation of Robert Kiyosaki’s Rich Dad book series. Rich Dad Poor Dad expresses a number of concepts that seem contrary to the established norms of accounting and…

Soccerbetting Is there such thing as “kangtao” or sure-win tips? I have seen a lot of people debating over the issues of this “kangtao” or sure-win tips. In actual fact there”IS” however very few. But why does it fails us when it is sure-win. It is because some of these so called kangtao are “false…

Banks are involved in foreign currency operations. When buying / selling them, an asset (requirement) is formed in that currency and there is a liability (obligation) formed in another. Therefore, banks have demands and liabilities in several different currencies which are heavily influenced by currency exchange rates. The likelihood of loss or profit as a…

I had a discussion with few people in the accounting profession, and it was about Journal Entries. When they started to talk about how the Journal Entry should look like, they seemed kind confused about Debit and Credit. Some people in the accounting profession try to ignore the fact that knowing Debit and Credit is…