Balance Sheet Basics – A Beginner’s Guide

Balance Sheet Basics - A Beginner's Guide

Whatever your reasons for looking at a business’ balance sheet, whether you are planning to buy it, invest in it or simply buy a few shares, there is little point in having this incredibly important document in front of you, if don’t have the first idea what you are looking at.

A firm’s balance sheet is like a snap shot of its fiscal status, and will tell you everything you need to know about its current financial health; it contains information on all assets, debts, investments and the net worth of a company and so can provide a far better insight as to how it has been performing than a mere profit report can, pretty useful if you are planning to part with your hard earned cash.

A balance sheet will list a firm’s assets, liabilities and the shareholder’s equity and is based on the simple equation that a firm’s net worth or ‘equity’ must equal its assets minus its liabilities.

The assets on a balance sheet will typically be split into two categories, namely ‘current’ assets and ‘fixed’ assets or less commonly ‘financial’ and ‘non-financial’ assets. Read more

Why Is It So Important To Get A Mentor And Community When Trading Forex?

In this article I am going to tell you from my experience, why is it so crucial to have a FX mentor when starting to trade the currency market for real.

First though, why would you want to trade the FX market for the first place? Well, have you lost your job recently? Want to get out of debt? Do you hate your existing job? Or you dont want to work forever? I could have answered YES to all these situations, not so long ago.

Or maybe you want to make money when you retire and do not want to depend on social security? Want to make money to help with tuition fees or for extra money while you go to school?

If your goal is to grow your capital for longterm profitability then FX is a very good opportunity with much better and stable longterm rewards (though risky) when compared, for example, to stock trading.

So lets get back to the original question, which is why do we must have a FX mentor. Read more

The Good And Bad Sides Of Debt Consolidation

The Good And Bad Sides Of Debt Consolidation

Many debtors are considering debt consolidation as the silver lining in the low financial state they are currently experiencing. It does seem like a quick fix in solving multiple debts, but a deeper understanding will aid those who are contemplating on consolidating their loans.

Advantages

Convenience of Making a Single Monthly Payment.

With multiple debts, you are faced with several payment dates every month. Read more

Points To Consider Before Going For Foreign Exchange

Foreign exchange is a process wherein you convert one form of currency into another. There may be different reasons as to why you will have to convert your funds into a foreign one, some of which include travelling abroad, studies, or even remitting to family home. However, before you begin your forex process there are certain factors you must consider. Let us take a look at them to know more.

Understand the basics of the forex process.

First timers who are planning to exchange currency must first be very careful with what they do. Read more

What Contractors Should Look For in an Accountant

What Contractors Should Look For in an Accountant

All businesses need to make sure that they have someone looking after their financial affairs, small businesses especially tend to depend on the help and advice of their accountant quite heavily, often using him as a sort of unofficial Finance Director, but when it comes to the sole contractor, often trading as a Limited Company without the support of a team of colleagues to turn to, the role of their accountant becomes even more vital. Read more