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Ways To Balance Personal And Business Lives

Ways To Balance Personal And Business Lives

Everyone wants to begin a new business on own and run it successfully. But also, we all want to balance both personal and business lives perfectly without any problems. Nowadays, this is not possible for many businessmen because they do not have much time to spend with their families and a lot of members feel very bad about this. But this must be changed, and the owners should have some time to spend on their families and then proceed with business life. There are some ways to be followed to coop both personal and business lives. Let us have a closer look on it and discuss it in brief and hope this is very useful for the new businessmen who are not at able to tackle both properly.

  1. Time management is the most important one for a business life. The businessmen should have the quality to manage the time in a proper way to yield success in both lives. They should make a partition of time to spend with their family and work. Once the owners know to manage the time perfectly, they can achieve more and more success in life. Because most of the families feel that the owners are not spending their quality time with the family members. So, once they got equipped with time management, then they can make everything possible. The landlords should fix their clocks to do both the personal and business works simultaneously.
  2. The businessmen should know how to prioritize the works based on the requirements because usually the family members are so emotional, and they always want their people to be with them in all the occasions. This is not possible for many of the traders as of now, but this must be changed, and everyone must make the priorities of work and try to set work time apart.
  3. Scheduling helps the traders to balance both equally, but the businessmen have to make a perfect schedule based on their time and work. Scheduling can be easy but sticking on it is really hard. Most of the businessmen are failing in this because they are not following things based on the schedule. This is not good, and the entrepreneurs should make a clear schedule and stick on it perfectly to have happiest lives.

Thus concluding that the businessmen can become successful only when they are able to handle both business and personal lives in a faultless manner.

Open Banking- Want to Know About It?

Open Banking- Want to Know About It?

A technology in finance which allows third-party developers called APIs to access customer information of banks is called open banking.  It enables the creation and sharing of financial data by different financial institutions in a safe manner.  Let us see the benefits of open banking.

Benefits:

  1. Cost: Large financial institutions will also be in a position to offer services at a low price to the customers.  Thus, even the not so richer ones can avail services and products offered by premium bankers.  The cost of banking will be reduced due to open banking.
  2. Speedy settlement of funds transfer: Open banking helps in a speedy settlement of transactions.  Thus, delays can be avoided and transactions will happen in a fraction of second.
  3. Product comparison: Customers will get full and better knowledge of a whole lot of banking products offered by all the bankers.  In the present scenario, people do not know about good financial products which are newly available in the market.
  4. Better customer service: Open banking will induce the players in the banking and financial industry to offer better products and services at a lower  Due to this competition, the customers will get better products and services.
  5. Better technology: Open banking will improve innovative financial products to be widely available in the market.
  6. Switch over made easy: Switching over from one bank to another will be easy in open banking environment.  The present difficulties and delays the customer is facing while closing account in one bank and opening a new account in another bank will be totally eliminated in open banking.
  7. Better availability of customer credit historical data: The bankers can get better data on the credit history of the customer than the present system.  Traditionally the role of a banker is such that the data security becomes a primary responsibility of the bank.  But if it is shared through improved means of safety, such sharing benefits both bank and customer.  Banks can prevent frauds when they get access to better data on the credit history and rating of customers.  They can be more cautious towards customers having a bad rating.  Customers who have a good rating will have more benefits and ease of access.  In open banking, data availability benefits the customers also because they get more product information and better service.  Unlike traditional banking, here the responsibility is shared by everyone.  Hence more fairness and ethical practices are ensured.

 

You can start making consistent profits right from the word “go”

You can start making consistent profits right from the word “go”

This is one opportunity you must never miss:

In times when a little extra income could come handy however small, you must never ever shy away from online trading. There is dime a dozen ways to make money but none will offer you this kind of consistency in earnings or the convenience of time and space. And you do not have to give up on your other commitments either!

Trading on your terms:

Online trading is never too much of a hassle. All you need is a device and a good internet connection and you are set. You can choose to trade from any location that you want and for how long you want. There is absolutely no tab on how much money you can invest or any limit to the scope of profit that you can generate.

You don’t need to be an expert in finance or management either!

Yes, this may shock you but you don’t even need the basic of economic knowledge to be able to trade online. All you need to have is the gut instinct and the perseverance and the positive spirit to go on profiteering.

The risk is a part and parcel of trading:

Businessmen, traders, and merchants will tell you that risk is something that you cannot alienate from trading. And if you think that you cannot afford to lose any money in taking any kind of risk, then our advice will be to keep away from this field. You will need to be able to be very clear from day one of trading that you will never exceed your investments beyond the safe zone.

Trading is pure speculation:

It is true that the amount of profit that can be earned is directly proportional to the risk that the trader is ready to take. But it is equally important that in the overzealousness of making great profits, one should be able to rationally allocate funds that they can safely afford to lose.

But that does not logically conclude that you will lose money in trading; no!

Trading is one field today where you can with your hard work, dedication and a wee bit of luck be able to make your both ends meet. The income from trading must be treated as a supplement to your main income unless of course you treat trading itself as your main preoccupation.

If a few hours of trading at any time of the day or not and is able to give you even a little more money, why not grab it?

 

Disadvantages of E-commerce

Disadvantages of E-commerce

Though e-commerce has many advantages, it has some limitations also. Let us discuss in brief about those disadvantages below. The disadvantages of e-commerce are classified into two categories.

  1. Technical disadvantages
  2. Non-technical disadvantages
  3. Technical disadvantages:
  • As it depends completely on the technology, there occur many day-by-day changes.
  • Combining the e-commerce application software with other application software is a complicated process.
  • There will be no security and reliability for the data present in the software and will get collapsed when the system crashes.
  • The network bandwidth will not be the same for all countries. So, this will make an issue while using the software.
  • The e-commerce software may not work with some new operating system so, at that time, it will become a bane for the people.
  1. Non-technical disadvantages:
  • The quality of the product cannot be predicted accurately because we will not be able to touch the product since it is an online service.
  • It requires a stable internet connection and the internet connection is still not available in many villages. So, the e-commerce application is not suitable for many people.
  • The cost of this application is so high and configuring the application may delay when there are some errors in the launch.
  • It is difficult for the people to trust the seller because we are not supposed to face the sellers directly and have communication with them. So, this will make the people think traditional shopping is far better than the online shopping.
  • The amount for the purchased products will be done by online transactions. The online transactions are not safe and secure. The account details of the people may be misused by someone.

Future of e-commerce:

E-commerce is growing rapidly and only 11.9% is the retail shopping. In future everything will become e-commerce shopping and traditional shopping trends will get vanished. Because we hate traditional shopping because of the crowd in the shops. But now, everyone is using this trending technology-based shopping to escape from the crowd. So, online shopping has become viral and in online shopping, we have to pay for some shopping charges for the products we order. This cost can be avoided when we go with the direct traditional shopping. Future will be surely an e-commercial world and there is no doubt about this.

Conclusion:

Thus conclude that though we get many advantages through the technology, I can say it is better to follow the old and gold traditional methods. Because there will be some enjoyment and happiness when we go to shops and purchase something and that happiness will not be there for online shopping.

Cryptocurrency Investment – A Beginner’s Guide

Cryptocurrency Investment – A Beginner’s Guide

What is a cryptocurrency?

Although cryptocurrency is not anymore a new term, still, not all are familiar with its meaning and purpose, and so, here we are to enlighten the community, especially those beginner investors who are eager to invest in the cryptocurrencies! Cryptocurrency is a virtual currency designed to be used as a medium of exchange, in where, the control of the creation of cryptocurrency, verification, validation and so on are taken care by the cryptography technology! To simply put, these are technologically-governed digital entities of value that forego the concept of centralization!

Why invest in them?

Three main reasons can be put forth for choosing the cryptocurrency investment venture.

  1. To support and promote the concept of decentralization aka distributed power, the basic principle of the cryptocurrency that allows the world to enjoy a currency system that is free of annoying flaws like the heavy transaction charges, security issues, regulatory issues and so on.
  2. To support and promote the underlying technology aka the Blockchain that has the ability to transform not only the monetary world but, also the world in general, for which its powerful feature like the smart contracts serves as the best example!
  3. The fall of the Dollar Imperium is inevitable, at least, that’s what predicted by the financial experts and if so, what other than the cryptocurrency investment procedure offers you the best option to hedge your net worth?

Which to choose?

Now that you understand the importance of investing in the cryptocurrencies the significant query of what to choose aka which cryptocurrency to choose and how to choose always confronts a beginner investor. For many, Bitcoin is the only cryptocurrency that is ever existing, despite the fact, there are now, more than 1000 cryptocurrencies prevalent in this world! This is because, the Bitcoins are going strong with their unshakeable market cap position that, naturally, attracts every investor towards it.

While investing in the Bitcoin is an appreciable act, it is always better to diversify your investments, especially considering the bubble situation of the cryptocurrencies. While doing so, choose the altcoins carefully to ensure you are picking only a strong choice that could steadily make it to the future! It is because not altcoins are created to last longer and, to stay away from those, carefully understand the purpose and the background of the respective altcoin to make a favorable decision!

How To Play Safe

Any investment procedure is not a child’s play and therefore, always understand the fundamentals to make your start, a better start! Also, do not aim to become an overnight billionaire by carelessly enjoying the bubble ride, that is, by trying to utilize the bubble situation in your favor that can lead you to a devastating situation. If you still want to enjoy a lighter ride then, do so with the help of the automated crypto robots that can make your investment journey a tad profitable!

Know How The Trade Creditors And the Contingent Liabilities Connected With Business Are Handled By The Auditors

Know How The Trade Creditors And the Contingent Liabilities Connected With Business Are Handled By The Auditors

While dealing with the trade creditors, the Auditor should

  • Check with the list and schedule of the creditors and also with the purchase ledger that has been already examined by him.
  • Assure if all the items purchased during the year from the beginning to the end are also included in the corresponding accounts of the creditors.
  • If the Auditor feels for any misinterpretation of false play from the side of any creditors, he or she should immediately opt for the respective client’s consent seeking for the corresponding account statements to be mailed and cross check the same by studying the ledger accounts.
  • Also, if the creditors allow for any discounts for the goods returned due to some issue, the Auditor should check with this and must confirm whether the reported matter is genuine or not.
  • If the Auditor sees any matter that has a payment pending with the overdue creditors, then he must immediately ask for the concerned reason for the same.

The case of contingent liabilities

Contingent liabilities include those type of liabilities that may or may not occur in the future of payments.

When the contingent liabilities are evaluated by the Auditor, he must ensure that all the variety liabilities are brought into the accounts as per that detailed separately on the balance sheet. Moreover, the specific balance sheet must be surely checked with respect to the entries made on it.

  • If any case arises like a discount is made on the bill receivable from a bank and the cash so obtained is already made use of, then the entire amount must be refunded to the corresponding bank once the acceptor fails to make the real payment on its date of maturity. This is the main reason why such a liability is separately detailed in the Balance sheet by way of a footnote.
  • Any money called on the share names must be paid on time and should be verified by means of the cash book and all those that include the uncalled liability must be determined.
  • Further, the Auditor must also analyze the liability granted by the client on some security for a loan to his friend or a partner. If later any issue falls due to non-payment of this loan, then the corresponding liability should be ascertained.
  • While considering the disputed cases where the damages have to be made by the company on the part that is not acknowledged as debts, then that should be immediately ascertained on the foot of the balance sheet and the Auditor must check with this.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

How An Auditor Verify The Fund Reserves Liabilities Associated With A Business Company?

How An Auditor Verify The Fund Reserves Liabilities Associated With A Business Company?

Usually, reserves can be categorized into two different domain which includes the generic and specific type. Examples of specific funds include

  • Sinking Capital,
  • Capital Redemption type of Reserve,
  • And the Reserve Contingencies.

An Auditor’s duty is to

  • Check out if appropriate profit and loss account transfer is properly done to reserves while complying with all the provisions linked with the transfer.
  • Further, he should verify the board’s consent with the plan of relocating the profit to the corresponding reserves.
  • Also, the Auditor should see whether the allocations or exchanges made in the reserve accounts like the additions to and deductions from the earlier year’s balance are decently handled as per the legal terms and conditions.
  • The Auditor also requires to analyze if the use of these reserves occurs in accordance with the law principles.
  • It is also important to note if the reserve utilization is immediately recorded in the balance sheet of the business company that complies to the law policies.

While dealing with the case of loans taken by the company, the Auditor should

  • Recognize the true power of the company to borrow money from others by understanding the Organization’s Memorandum and Articles.
  • Moreover, the bond made in correspondence with the loan should be thoroughly examined by the Auditor.
  • Also, he must verify with every cash receipt on account of the loan issued along with the registered entries in the respective cash book.
  • Further, he must check with the certificate of registration approval given by the Registrar of Companies which recognizes if the loan has been fortified by mortgaging any property.
  • Along with this, the auditor should assure if the interest payment is timely made to the vendors and the Auditor must vouch for the counterfoils of receipts to make sure of this. He can also compare this with the corresponding entries made in the cash book of the company.
  • Additionally, the Auditor should evaluate whether loan repayment is made in a periodic manner as per the agreement and the respective counterfoils of the checkbook, the passbook issued from the banks and the corresponding cash book stating this should be verified.

It would also be an appropriate step to seek for a confirmatory letter from the agent who has sanctioned the loan to the company so that the Auditor can cross check if the interest on the loan is not due and the repayments of loans documented in the record books of account are correct.

 

 

 

 

Trading Came To Me As Second Nature

Trading Came To Me As Second Nature

 

I have been scammed also!

Before I go on to tell you how I made the thousands of dollars that I made from online trading, let me make it crystal clear that everyone starts with being scammed at first. A very few and by that I mean probably a couple of them in a thousand who get off with a wonderful start and a legit trading software in the very first time. The rest of us have to be scammed and duped till we search and find that one perfect software that is not just legit and professional but that which works for us.

When I began my trading journey, I had thought that I had read enough on it. I had no background in trading at all. Yet when I started I lost a lot of my money. I kept hopping from one software to another in the hope that maybe I would find one too and that I can be unlucky for only this many times.

Trading per se is easy but dealing with fraudsters can take a toll:

Just like how one bad fish can pollute the entire lake, so also a few fraudsters are hell-bent on spoiling the name of the entire field. A handful of fraudsters can make it seem like they populate the entire online trading industry.

A little discretion is all that we need:

Of course, we all know that everything found on the internet is not true. The honest testimonials and the rave reviews re after all never really honest or there is nothing rave about them. Most of the software that makes so much noise there are perhaps the frauds who want to attract eyeballs and increase footfalls to their pages.

But you don’t have to worry because not all of them are like that. There is at least a hundred legit software where you can open a trading account and begin by saving your earnings. The best part about trading online is the convenience.

The online markets never sleep!

The markets are open 24/7/365 and that presents immense scope for a good inning. A trader can have his day job and trade a few hours before he retires for the day. The profits to be made may be subjective but at the end of the day, one must not forget that trading is something that is inherently risky. There are chances that he may make a windfall profit on one day and then not make much during the following few days and they lose all the money in one shot on one of the days. This will not make it a fake or a fraud.

At the end of the day, trading also gives a lot of satisfaction. My journey so far has been good and I would love to hear yours!

All That You Need To Know About Online Trading!

All That You Need To Know About Online Trading!

 

People who have tried trading online have always come back to tell me that their fears were so misplaced. Most of them also came to me with grievances of losing chunks of their hard earned money but then they returned back smarter.

You only dispel the darkness of ignorance by reading:

Like everything else, a trader why desires to enter online trading and want to do well here must begin with a thorough study of what options are available to him in the first place.

The internet is resourceful; however, you will need discretion:

Not everything that is there on the World Wide Web is resourceful and completely true. No surprise there. There are people who write positive and negative reviews and testimonials just for the heck of it even without trying the software out for themselves. There are also people who sell their fake reviews and testimonials and there is a high chance that at least five out of ten testimonials across the internet are not genuine but doctored.

Having said that we cannot undermine the fact that to become a trader who has the complete knowledge about what trading is. That will come with reading extensively about it. There are chances that a naïve trader may get scammed even but the best approach is to treat it as a learning curve.

Trading is definitely supplementary in nature:

If you are someone who has adopted online trading because you want to earn big time, log off immediately. It is common knowledge that the earnings from trading on such a medium can best be termed as supplementary in nature. It cannot give you so much for so little that is expected from you.

It is beneficial in the long run:

Consistent profits on a daily basis can mean that at the end of a particular period you can expect to see a good balance sheet. Every drop an ocean makes. Do not underestimate the power of daily earnings however small they be. The cumulative effect can create ripples.

Perhaps you can save and afford to buy something that you wished you could from the salary that you draw from your day job but just could not because we all know how the salary almost vanishes even when we enter the month’s third week!

This will help you make your ends meet. Believe me, at one time I may have been a skeptic too. Today I help people overcome their past bad experiences and encourage them to give it one more try and on a known legit platform. It, not the winning that matters always but never giving up does!

Importance Of Internet For Business

Importance Of Internet For Business

As the world has become technologized, everything has become online and without an internet connection, nothing can be done. For business use, the internet is a very essential one because there will be a lot of things to do like emailing, video calling with the online clients and much more. So, the internet plays a vital role in the business field and it is very important to make use of it in a proper way as there are many chances of misusing it. We should be very careful while using it. Let us discuss how important the internet for a business and in what are all the ways it helps to bring up the business.

  1. Marketing:

As we all know marketing and advertising is the most important things for the development of a business. This can be done with the internet by giving some digital advertisements in the familiar websites and so the people when they use those websites, they will be seeing our ads on that page. This will help us to get more and more clients for businesses. Because when we give marketing for our business, the reach among the people will be very high and obviously they will come forward to know about us. This will make to enhance our business in an easy way.

  1. Communication:

In earlier days there were no phones at all and so there were many possibilities for miscommunication. But now there will never occur any miscommunication as we are in a trending technology world. When we have a stable internet connection, we can easily send emails to our colleagues or employees regarding our work and we can even talk to our onsite clients through the video calls applications like Skype. So, if we have any queries or doubts, we can immediately solve it by making an internet call to them. So, we can easily reduce the mistakes and grow up our business easily.

  1. Storage:

The information storage has become so easy with the internet. There is an electronic storage device which will save all the needed important records in it and we can retrieve it whenever and wherever we want to. This is really an excellent advantage for us because as we were using papers to record everything, we would have missed many important files and folders. But here, the chance of missing is very less and the files will miss only when we do not save it properly.

Conclusion:

Thus conclude that internet plays a great role in the life of many businessmen and I can say it is really a boon for all of us.