August 2023 - Page 7 of 7

Accounting and Assignment Help

Accounting or generally known as the “language of business” is the systematic way of recording, reporting and studying financial transactions and business’ data. The recorded information is then utilized by users who evaluate the fiscal health and an organization’s condition.

Accounting is considered as one of the foundations of business, that’s why it is very important. A business cannot be run without a good accounting help.

Accounting has a lot of principles, types, concepts and processes involved. One of the processes is the cost accounting. Cost accounting is generally designed for managers. It is an accounting process type which intends to attain the costs of production of a company by evaluating the costs of input and fixed costs including capital equipment’s depreciation. It measures and records the costs then compares the input outcomes to the actual results that help the company management measure its financial performance.

It is a field of accounting wherein the economic performance in measured by means of money. It is where financial statements and reports are made to be presented to the decision makers by gathering and summarizing the financial data. It is also where the money coming in and out of a company or organization is monitored. Financial accounting doesn’t necessarily state or report the value of a certain company; rather, its purpose is to provide enough information for others to assess the value of a company for themselves.

Management accounting or also known as the managerial accounting is where management accounts and reports that are provided with precise and well-timed fiscal and statistical details are prepared. This information is needed by managers to be able to make daily and immediate decisions. It generates weekly or monthly reports for companies or organization’s bosses or executives. The reports show available cash’s amount, produced sales revenue, amount of available orders, accounts payable’s condition, as well as inventory, raw materials, outstanding debts and accounts receivable.

Most students find it hard to solve accounting problems. Their minds are tortured, their nose bleeds, their eyes narrows. But now, because of the bright minds of people in the field of accounting, the misery of students studying accounting is now lessened. Answers are given for those who ask, clear explanations are explained for those who are confused and help is extended for those who need with the help of the internet access. Accounting assignment help and homework are provided and contains articles that can eventually help not only the students, but everyone who needs help when it comes to accounting. It includes articles from basic to complex topics, everything about accounting. It also includes assignment help and homework help for students who are stuck on solving an accounting problem and finds it hard to apply the accounting concepts and principles to the given problem. It also provides sample problems with complete solution to demonstrate the systematic way in solving problems.

Even professionals are provided with reliable help trough the cost accounting assignment help, the financial accounting help and the management accounting help, everything about accounting. It provides help thus making their work easier and one click away. Data were sent and receive through emails. With low rates, but reliable and efficient service, it is indeed a great help. A lot of website now offers assignment help not only in accounting but also in a lot of subjects. Reliable and high quality information, it is really a great help to students and professionals.

Security Guard Post Orders

Post Orders are all the rules security guards must follow at any given post. Without post orders, officers simply do not know what to do, what is expected of them, and there is no accountability. Many posts that hire security staff put nothing in writing. More often than not, this creates huge problems. The more complicated a post is, the problems arise when all rules and expectations are not written down. Security personnel must know what is expected of them. Below are some key ingredients that all post orders must have.

1) Emergency contact information. This should include all tenant phone numbers in case something happens to their particular suite. Obviously, building management and police information must also be included as well as maintenance and engineering.

2) Emergency procedures must also be written down including but not limited to bomb threats, fire, theft, flood, kidnapping, and the list goes on.

3) Lock up procedures must also be covered.

4) Any pertinent phone directory information is usually included.

5) Check-in policy involves building access of couriers, guests, clients. The more specific one is the better. Must all visitors sign-in? Are V.I.P’s exempt?

6) Report writing requirements are usually demonstrated through examples. DAR, also known as daily activity reports, should include an example of what is considered appropriate for a day’s work so officers know how detailed they should be on their report. Also incident reports are important because they are used when serious accidents happen, and are often brought into the court of law to prove legal cases.

7) Customer service skills, a big part of security, should be stressed, defined, so that officers are clear on how the client wants people to be treated. Some clients, for instance, have a very strict anti-fraternization policy they want enforced.

There is much more information that needs to be included in post orders. Every account is different and the rules should be tailor made to consider those differences.

Vending Machine Business Record Keeping Basics

Keeping good records of the status of each of your vending machines when you service them is both a critical and very easy practice. Even for those who strongly dislike record keeping and struggle with the practice, the process is not overly taxing. The benefits, after all, far outweigh the small inconvenience that it presents. After all, by keeping records, you will be able to see how you are doing over time so you will know exactly which machines are offering the best performance, how many of what product is being sold, and what profits you can anticipate in the weeks and months to come.

As a business owner, this is information that you need. With even the most basic record keeping, you will have a much more thorough understanding of your business and how it is doing from one machine to the next. This allows you to continue what you are doing right with some machines, and consider the relocation of other machines that just aren’t performing as they should be.

That being said, you will also greatly appreciate your efforts to keep accurate records when tax time comes around. Nothing is more painful than trying to scrounge together exact numbers from records that are either sketchy or non-existent.

The two kinds of records that you will want to consistently maintain within your vending machine business are a basic ledger and a report of all of the locations on your route. The basic ledger is essentially your general bookkeeping. It should document all of the income and expenses totaled from all of the locations on your route. You can do this on paper, but it is much easier and faster if you use a simple bookkeeping program on your computer. If you save all of your receipts and keep a good route report, you will be able to update your ledger quickly and easily each time you complete a service route.

While on your service route, you should keep a record of the status of all of your machines at each location. Each machine should have its own page where you take notes from each servicing. This way, you will be able to flip to the page for any given machine to observe its performance including expenses, income, the placement of products, and the popularity of each of the products.

When your business is still small enough for you to do all of the routes yourself, you will be responsible for all of the record keeping for both the ledger and the route. However, once your business gets large enough that you need to hire someone to run some or all of your routes for you, you will need to make sure that that individual is also keeping the detailed, accurate records that you need to make all the difference in understanding the success of your business.

The same thing goes if you wish to hire a bookkeeper to keep track of all of the income, expenses, and other data collected by the people running your service routes for you. The trick is to make sure that these records never fall behind, that they are always complete, and that they are always accurate.

Do not forget to actually use the information that you have collected. Keeping records is only a practical process when you examine and analyze the data that has been collected. Keep a close eye on the performance of each of your machines so that you always know where attention is needed.

Wireline Logging Witness – Roles and Responsibility

The Log witness has a job which encompasses a number of responsibilities:

Coordination of all well-related logging activities – pre-job, during the job, and post-job
Training of any new service company logging engineer on client specific requirements
Interfacing with the Logging engineer, Operations geologist, Well engineer and Drilling Superintendents
Pre-job, during the job, and post-job reporting of logging objectives and operations
Participation in and supervision of on-rig wireline logging operations

After the service company is informed of the upcoming job and a logging crew is selected, a wireline witness is also appointed to cover the job. The log witness is sent the wireline logging program and briefed by the operations geologist or well engineer in the operating company.

The logging witness is considered the leader of the logging service project team consisting of the service company logging engineer, his/her crew and the drilling superintendents on the rig. On board the rig, the initial interactions between the logging witness, drilling superintendents and logging engineer should take place, getting consent on the following issues:

Logging program and objectives
What tools are required and what tools are available
Review and discuss risk assessments and potential safety issues
Preliminary details of the logging plan including expected start date and time
Lessons learned from previous wells

The logging crew have to check all their equipment to ensure all the logging tools are in working condition and no equipment required for the job is missing. The logging engineer must report any tool problems or missing equipment to the wireline witness and the drilling superintendents on the rig. At this point, the logging program might undergo refinement through discussions between the operating company and the service company with the logging witness taking on an advisory role. Logging time estimates, log presentations and pre-job well information sheets are also prepared prior to the job starting. Any discrepany in the estimated logging time forecast should be highlighted to the drilling superintendent to aid forward planning and logistics. When the job commences, the wireline witness has responsibilities which include:

Logging company data acquisition: supervision and quality control
Data formatting and/or reformatting
Downhole sample measurements supervision: Formation testing and coring
Daily job reporting
Ongoing job risk assessment

The 5 Essential Financial Reports You Should Be Asking For in Your Business

A question I often get asked from my business owner clients is “what reports should I be asking for so that I can keep my finger on the pulse on my business”.

Now this does differ slightly from business to business. For example, if you are a retail shop, then you’re going to automatically have daily figures available to you as part of your normal process. However most businesses should be asking for weekly, monthly and quarterly reports.

WHY I NEED TO READ REPORTS!

Before I go through the reports in detail, I know that a lot of people don’t like looking at the figures in their business. And usually this is because they don’t know what it is that they’re looking for. So usually then their accountant or bookkeeper (or receptionist!) gives them a monthly report, they glance at while holding their breath, and then either breathe a sigh of relief if it shows a profit, or they grimace and swear when it shows a loss. But usually by the time they’ve got this report, it’s already too late. The financial status of your business should be at the forefront of your mind every day- not something that you look at once or twice a year when you run out of cash.

REPORT FREQUENCY

The first thing to decide is how frequently you need to see reports. I suggest a minimum of monthly, if not weekly. This can sometimes depend on whether you have a full time accounts person, or whether they only come in once a month.

TOP TIP: DO A YEAR END EACH MONTH

To help you know what’s going on in your business, one of the first things to implement into your business is a culture of having a year end every month. By that I mean… you want to ensure that every revenue figure and expense if recorded according to the month that it’s incurred. If you insist on this type of culture, you will start to receive accurate figures. So think end of year each month and close off all financial data for each month. That way you know that your reports fully reflect the state of your business and you get accurate profit and loss reporting and it can help you to identify trends in your cash flow.

With regards to reporting, if you have a full time person looking after your reports, you should be having a weekly meeting with them to review reports. To make this process easy for you, refer to the ‘Essential Financial Management Templates’ workbook which you can purchase from our website. This workbook has a standard financial meeting agenda that will help you to guide your meeting so that it’s both effective and efficient.

When you are meeting with your accounts person, you want to ensure that you have all the reports up front -before your meeting – so that you have time to go through them and highlight any discrepancies that you can then address during the meeting.

YOUR WEEKLY REPORT PACK

So what information do you need to know if your business is doing well or not? Well your weekly report pack should consist of the following five reports (by the way, a sample copy of each of these reports is also included in the workbook that I mentioned before):

1) A Profit and Loss – this should be provided weekly (if you’re meeting weekly) as well as a Month to Date and a Year to Date report. So that’s actually three reports in total!

2) From there, you would request a copy of your Aged Payables. This report shows a list of all the people that you owe money to, and when it’s due – or if its overdue. If there are any amounts that exceed your suppliers trading terms, you want to know why. If it’s because of cash flow, you then look at your cash flow analysis report to see when they will be paid. To maintain a great relationship with your supplier, you then need to communicate this with them.

3) Another essential report is your Aged Receivables. This is where you can clearly see who owes you money and if they have any amounts outstanding to you. This allows you to follow up on collections way before it becomes overdue. As part of your financial management systems, you should have a standard follow up system. For example – if a client has exceeded their trading terms by 7 days, what happens – do you follow up with a quick phone call to check that they’ve received the invoice. If its 14 days – what happens – and so on.

If you refer to the ‘Essential Financial Management Templates’ workbook that I mentioned before, there’s also a list of demand letters designed to help you when you need to be a little more serious about collecting. But once again, Aged Receivables is essential because you need to see when your money is coming in – so that you can pay your suppliers and employees their wages without having to dip into your own personal cash reserves.

4) This brings me to the next report – a Cash flow analysis. This report should be put together by your bookkeeper and outlines when money is coming in and when it is going out. You can then see if there are any shortfalls so that you can make plans in advance to get this covered. It may be that you need to transfer monies from another account – or it may be that you chase outstanding payments. What you don’t want is to find out when you go to transfer the money is that there’s nothing in the account!

Believe it or not, this is often the most under-utilized financial report – and yet it’s the most important. You wouldn’t believe how many bookkeepers or accounts people don’t do them either. It’s not so much that it’s difficult to produce, but it’s a working document which means that it needs to be regularly updated. But persist with this one, even if your accounts people try a mini revolt over it, because it’s a life saver for your business.

The ‘Essential Financial Management Templates’ workbook that I referred to previously that’s found on our website contains a fantastic cash flow analysis report that will save you and your team a lot of time.

5) The other essential report to have is the Bank Reconciliation. If your bookkeeper is full time, then they can do this weekly by using the online reports from your bank. If its monthly, then they will need to wait for the bank statement to arrive from the bank before they can finalise. However, keep on top of them for this – this report shows that the necessary process has been done to ensure that the month end has been closed off and that the cash in bank and any other payments or receipts are accounted for. Basically a bank reconciliation is done so that its guaranteed that your amounts coming into and out of your bank account are accurately reflected in your accounting software package.

WORKING WITH YOUR ACCOUNTANT

I would also recommend requesting that your financial controller automatically sends a copy of your monthly reports to your accountant. This way your accountant can see where you’re headed from month to month. Depending on the size of your business, you could then establish regular meetings with your accountant – whether it’s monthly or quarterly – to discuss those reports and your financial plans for the coming month.

Once you are receiving these reports regularly, you will find that you become much more empowered in your business and your finger is never far from the pulse!

Oxyfresh Home Based Opportunity Could Secure Your Financial Future – An Oxyfresh Review

Oxyfresh a home based business opportunity is a most interesting business at the moment to take a look at. Well, internet whizz kids and sports heroes may be grabbing all the headlines and the hypes, but home-based Multi-Level Marketing (MLM) currently holds the aces. Paul Zane Pilzer, an economist and best-selling author observed in his recent book that the wellness industry is creating more millionaires now than at any other time in history. Meanwhile, virtually all the companies in this sector distribute their products via Direct Selling and Network Marketing. As a result, the independent distributors or network marketers are having a field day.

Why is Network marketing so appealing now! Why? Here are several reasons. For one thing, most people are just now realizing that it just doesn’t make any sense to work for 40 years only to retire on â…” (one-third) of what was never enough in the first place. And for another, stock investment has proven once again to be a high-stake game you should only play if you have a crystal ball and can read it well! As for real estate, well, take at look at the market? The real estate market is a major loss at this time houses are selling for only a fraction of what they where worth a few years ago

Now throw in a unique brand of business leaders, coaches, and a powerful wealth-building system of residual income through multi-level marketing. What you get is a brand new home business opportunity that takes peanuts to start, but which easily catapults thousands from minimum wage jobs to earning millions in a matter of a few years.

Indeed network marketing and home-based businesses have taken the global economy by storm. Meanwhile many companies involved in direct selling are exploring ways of bringing network marketing opportunities into the mainstream.

Oxyfresh for example has set for themselves the goal of making network marketing income opportunities as popular as and on equal footing with, say, equities or real estate investments. They have designed a unique MLM business plan that should generate monthly residual income throughout a distributor’s lifetime, and even beyond-yes, it can be bequeathed.Oxyfresh is a 25-year old company. They manufacture health and wellness products.

They also offer distributors a chance to create financial security for themselves.

As a distributor, you are expected to emphasize the high quality of Oxyfresh products. The company believes-correctly-that direct sales products have to be better than what you can buy at a store. They must be unique in some ways, and should engender consumer-loyalty. It is reported that most of Oxyfresh’s sales revenue comes from repeat-patronage-consumers who have been loyal to their products for 10 to 20 years.

If you are thinking about taking a look at this opportunity here is some fact that you might be interested in. The company believes that network marketing is a people business, where success is predicated on how many dynamic and loyal people you’re able to attract. This means that as a network marketer you should want to learn how to develop good communication, leadership, enrollment, sales, and attraction skills. These are some of the personal development skills that will help you build a strong network marketing business.

Oxyfresh enrollment costs $35. But at the moment it’s free (till December 31st 2009). After your enrollment you’re required to purchase any of $250, $500, or $1000 Starter Packs. Each comes with products and other materials to get you started on the Oxyfresh home-based business opportunity.

Oxyfresh endeavors to run and grow their company in ways that enhance the reputation of direct marketing, they being a member of Direct Selling Association. Their distributors are warned against making claims about the products or income opportunities that the company does not make. Integrity and responsibility are two traits Oxyfresh distributors are encouraged to exhibit.

Is this network marketing opportunity for you? Interestingly, the economist we cited earlier equally stated that “there’s still time to get in on the ground floor and make your fortune in the wellness industry”. He pointed out that the vast majority of opportunities in this sector favor the individual entrepreneur.

It would be fair to for you, if you are interested in MLM to look for ways to cash in on the vast home-based business opportunities that abound in the health and wellness industry. But remember no matter what MLM company you decide to work the key to success in any company is learning how to market yourself and generate daily leads.

An Unusual Way to Get Rich – Create a Flea Market Small-Business Empire With Wholesale Products

FACT: Many people earn $1,000 per day (that’s $104,000 per year) just selling at flea markets and swap meets on weekends. (I’ve actually made more than that on some days.) Most people think we are just a bunch of poor folks trying to make an extra dollar, and that’s exactly what we want them to think.

What do we know that you don’t? What are our secrets? Can you do it?

Yes. Anyone can sell at flea markets and become wealthy…and I’m going to tell you exactly how right here.

Becoming a flea market vendor is easy and affordable. Your expenses will be the cost of your merchandise and space rent. Daily rent for an outside space can be as little as $5-$10 per day. Many people begin by selling used items and move into selling brand new items purchased from wholesale companies. New items outsell used items two to one and have a higher profit ratio.

Most people already have a table or two they can bring with them. I actually began my flea market and swap meet business with only $200 and a couple card tables I borrowed. I now earn thousands of dollars every month without fail. (Of course, the more money you have to buy merchandise, the faster your new business will grow.)

The key is to let your new business grow. Don’t kill it by taking all the profits out of it! I suggest that you have a job or another source of income to cover your living expenses for at least the first six months after starting your new business.

There’s an old adage in this business: ‘The more you have, the more you’ll sell.’ Believe me, it is true! Take that to heart and put all of your profits into buying more merchandise, so you’ll have even more to sell the next weekend.

Who do you think most shoppers will go to, the guy sitting there with four items on a single card table or three spaces across the aisle from him literally loaded with millions of different items? If you think you have enough merchandise, you don’t.

If you use your profits to build your business and buy more merchandise every week it won’t be more than a few months before your sales rapidly increase and you can begin keeping some of the profits for yourself without killing it.

If you live in a northern climate that is cold in winter or a southern climate that is hot and humid during summer, you might consider renting a space inside a flea market building. Yes, your space rent will go up a bit, but you’ll have the advantage of heat and air conditioning (comfortable shoppers spend more money), as well as a secure enclosure for your tables and merchandise during the week when the market is closed.

Once your first small business is running well, use the profits from it to open a second small business at the same flea market or swap meet, selling a different type of merchandise. Expanding is as simple as renting another space and hiring someone to run it for you. Again, your costs will only be merchandise and space rent and whatever you pay your help. (Be good to them and they will be very good to you.) Just as with your first business, put the profits back into your second business and allow it to build.

The profits from two small businesses will allow you to open a third small business with ease. Do the same as you did before and allow your third business to grow. Put the money back into it by purchasing more merchandise.

Then open a fourth, a fifth, a sixth small business at the same flea market. It’s not only possible but almost guaranteed that if you will do that you will create your own small business empire in less than one year and have a yearly income in excess of $100,000 after expenses.

If you just put the profit back into your first new business, it will grow without another penny out of your pocket. The profits will allow you to open a second, a third and so on. You don’t need a small business loan to get started.

Plus, you are not limited to just one flea market or swap meet. There may be other markets within 20 or 30 miles of you, where you can do the very same thing and multiply your earnings.

If you follow this simple yet effective formula it won’t be long before you can stop selling at flea markets yourself and just become a manager, overseeing your small business empire and stepping in to give your employees breaks.

Once you are making a very good income, consider other ways to invest your money to make even more profit, such as opening your own wholesale house and selling merchandise to flea market vendors and make even more.

Flea markets and swap meets are an excellent venue in which the average person may start their own small business and become wealthy by creating a small business empire.

Government Intervention and the Nigerian Economy: Present, Past and Future

For most of its existence since independence in 1960, economic development in Nigeria has been determined by state planning and direct government participation. Inclement policies pursued by successive military regimes amid the rough of tumble of Nigeria’s chaotic past resulted in massive macroeconomic imbalances that are still inherent to Nigeria. The country’s historically agrarian economy was transformed almost overnight with the discovery of vast oil and gas reserves, forcing a culpable overdependence on hydrocarbons that eventually blocked economic diversification. The oil boom of the 1970s brought further devastation to agriculture and traditional livelihoods and ushered in massive unemployment and food shortages across the country. Human development indices had plunged to among of the lowest in the world by the turn of the 20th Century, and the ‘Nigerian Paradox’ of extreme poverty despite substantial national wealth was born. Even today, 54% of Nigeria’s 148 million people live in extreme poverty on a daily income of less than $11.

Government intervention in the economy during military rule was mostly characterised by sporadic and often ill-informed policies that delivered meagre, if any, results. The IMF-funded Structural Adjustment Programme (SAP) of 1986 was one of the first attempts to relax decades of economic regulation. However, there was little domestic consensus on measures outlined in the programme and the tough market reforms that the state of the economy demanded never really came through. Bureaucratic incompetence and corruption were largely to blame for this bad experience in reforms which also strained Nigeria’s relations with international financial organisations including the World Bank. Some positive signs emerged in the mid 1990s, when trade liberalisation brought down tariff rates and import dependence while opening up the economy to foreign investors. Further, Abuja revoked laws allowing monopoly public sector enterprises in petroleum, telecommunications and power to encourage private participation in important areas. These measures together helped push GDP growth up to 2.5% between 1993 and 1997, reversing an average decline of 2% registered over earlier years2. However, the recovery came at the price of low growth in the non-oil economy, which continued to flounder amid falling demand and low liquidity.

The peaceful transition to civilian governance in 1999 brought with it relative political stability and paved the way for a more aggressive set of reforms. A resurgent Nigeria signed the UN Millennial Declaration for universal basic human rights by 2015 and adopted ambitious plans for accelerated economic growth in a time-bound manner. A number of positive developments have occurred in the Nigerian economy since 2001:

* Under former President O Obasanjo, the government embarked on a massive privatisation drive, disinvesting in several major oil, steel, mining and port operations.

* International reserves saw healthy growth from $41 billion in 2006 to well over $52 billion in 2009. The average inflation rate dropped from close to 18% in 2005 to 11% in 20083.

* Nigerian lawmakers enacted the Fiscal Responsibility Bill in 2007, institutionalising the deregulation of oil prices. A Public Procurement Bill was also passed the same year.

* In 2004, a bank consolidation plan was executed to strengthen financial institutions and improve their credit capacity for private sector businesses.

* Nigeria’s bulk of outstanding foreign debt was conditionally waived off by the London and Paris Clubs, allowing for increased government spending on poverty alleviation programmes.

Perhaps the most optimistic of recent signs have been observed in the non-oil sector, which doubled since 2001 and currently accounts for 7% of GDP. Another success story is the revival of agriculture and its growth to 42% of GDP by 2008. Although oil continues to be the mainstay of the Nigerian economy, contributing 85% of all revenues, recent governments have wizened up to the idea that the country’s tall ambitions cannot be fulfilled without rapid economic diversification. The answer, given the country’s abundant human capital and natural resources, is rapid business development in the SME space. Nigeria has a great opportunity and an even greater obligation to foment an enterprise revolution that will radically transform its economic landscape.

The following are some of the broad parameters Nigeria must be guided by while formulation economic policy interventions in this regard:

* Creating a central body with responsibility to coordinate all policies relating to start-ups and existing enterprises.

* Creating a mass base of viable enterprises across the non-oil economy by promoting private sector equity participation.

* Reinforcing micro-finance institutions to enhance loan-disbursement capacity for small businesses.

* Cutting down on high operating costs with tax breaks and financial incentives directed at entrepreneurs.

* Removing institutional deterrents that lead most new and emerging enterprises to operate in the informal economy.

* Improving technical support for rural enterprises that continue to operate using outdated practices.

* Improving entrepreneurial productivity through tertiary skills development and vocational training programmes.

Given the vagaries of its economic history, Africa’s second largest economy faces tremendous hurdles in securing a better place for itself in global rankings. Nigeria has not had a particularly impressive track record in terms of timely economic intervention, as the gathering banking crisis demonstrates. What Nigeria needs today are aggressive, pro-active policies that have the full benefit of both its past experiences and its future aspirations!