Getting yourself out of debt or trying to repair bad credit can be a long, tedious process. Too many people have spent years wrestling with financial or bad credit issues and know the solution will not happen overnight. It can take months, sometimes years to unravel a financial crisis and repair bad credit but it still is do able. Read more
If you are a Malaysian resident and you are thinking about ways to make some extra money to supplement your income, venturing into the forex trading business can be a great idea. Even though you can make a lot of money in this business, it is not as easy as it may look. It takes more than just having enough money to invest to be successful in the forex trading business. Read more
The key steps to take to deal with a real cash crisis are firstly to get to grips with your exact cash position and this involves preparing a cash flow forecast. Then you will need to both improve the control of the cash you have as well as identifying opportunities to create or free up more cash.
Understanding your position
A cash flow definition is the forecasting of a business’s real cash inflows and real cash outflows over a period; usually on a weekly basis for 13 weeks in a crisis, but sometimes on a daily basis in extreme cases.
You can buy cash flow software, but in practice a basic forecast can usually be prepared using a simple spreadsheet on which you set out in a logical structured way the expected timings of real cash:
– coming into the business from debtor receipts, loans raised or assets sold; and
– going out of the business as payments.
Together these will give you a net cash movement over the period which can be used to walk forward your expected cash position based on the assumptions you have made.
Controlling the cash you have and managing cash flow
You should then actively use your cash flow forecast to control the cash in your business by using it to make decisions on the timings of payments and what commitments you can make to creditors.
In preparing your forecast you should also be using it to examine your business. Read more
The CPA exam is feared by many people who want to become certified public accountants. The exam is not an easy one indeed and has a pretty low passing rate. As a matter of fact, only 5% of all people who take the test pass it in their first try. Still, this doesn’t mean the test is impossible to take. Here are a few tips about how to pass the CPA exam.
First of all, and this is extremely important, you need to learn how to calm down your anxiety. Read more
A lot of people talk about the bad points about payday loans, but there are also plenty of advantages of using them rather than other types of loans. Are you thinking about getting one but youre still not sure? Well, maybe some of these advantages will help you make your mind up. Here are just some of the advantages :
Speed : The best thing about these loans is how quickly you can get the money, there are just no other loan that is nearly as quick as a payday loan. Read more
As a business owner there are many jobs that need to be delegated, you cannot do everything yourself, even if you try, some things simply require a specialised skill-set that you don’t possess and couldn’t even if you had a life time to learn; bookkeeping is not one of those things.
Although there are of course very many brilliant, qualified bookkeepers available to take on the task of keeping your company’s books for you and your accountant would doubtless also do it for a nice fee, the keeping of your business’ records is something that is arguably best left to you the business owner.
Many business owners however bulk at the idea of bookkeeping, usually citing ‘too little time’ as the reason; they prefer to spend money on outside intervention. Read more
Have you ever read the book “The Four Hour Workweek” by Tim Ferris. It is, without a doubt, one of my favorite business books of all times, and I recommend it to nearly everyone I talk business with. But the reason I bring it up today is that this book is creating a phenomenon of lifestyle changes across the country. People are working in offices less, and working from other areas in the world more. In fact, families are now taking year-long sabbaticals from their normal daily grinds in order to live the life of digital nomads.
What does that have to do with getting paid, you may wonder. Read more
A very common question new users of QuickBooks have is “How do I record personal money used in my business?” One way is to use and equity type account called Owner’s Investment. Another method is to use a credit card type account. I prefer the latter.
Using a credit card type account allows you to keep business records completely separate from personal. Read more