Student Loan Repayment Tips for the Life of Your Loans

It is often said that the most effective debt management strategy is to be debt-free.   But, in order to pay for your college education, you may need to take out student loans. Student loans are applied by many people these days.  It is for the hope that student loans can greatly support their education.  Well, […]

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Financing Your Education:  Your Future Is In Your Hands

 Introduction  One of the most important decisions you can make in your life is how to pay for your education.  Education as you may know is a very big thing for all of us.  It is the key to our success.  But, oftentimes this “big thing” is ignored because of financial problems.  Thanks to some […]

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Student Loan Pitfalls: Dangerous Default

Introduction The student loans just like the other forms of financial aid are a service that is subject for repayment. However, although aware of such fact, many borrowers still fall to the trap of walking away from student loan debt which then results to series of consequences. They tend to ignore their being summoned to […]

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What is Budgeting?

Ugh, budgeting is one of those topics we’d rather avoid, but in business, it’s an absolute necessity. To prepare a reasoned and thoughtful budget, an accountant must start with a broad-based critical analysis of the most recent actual performance and position of the business by the managers who are responsible for the results. Then the […]

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What is a corporation?

Most businesses start out as a small company, owned by one person or by a partnership. The most common type of business when there are multiple owners is a corporation. The law sees a corporation as real, live person. Like an adult, a corporation is treated as a distinct and independent individual who has rights […]

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What is Financial Window Dressing?

Financial managers can do certain things to increase or decrease net income that’s recorded in the year. This is called profit smoothing, income smoothing or just plain old window dressing. This isn’t the same as fraud, or cooking the books. Most profit smoothing involves pushing some amount of revenue and/or expenses into other years than […]

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Differences between Gains and Losses

It would probably be ideal if business and life were as simple as producing goods, selling them and recording the profits. But there are often circumstances that disrupt the cycle, and it’s part of the accountants job to report these as well. Changes in the business climate, or cost of goods or any number of […]

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Revenue and Account Receivables

In most businesses, what drives the balance sheet are sales and expenses. In other words, they cause the assets and liabilities in a business. One of the more complicated accounting items are the accounts receivable. As a hypothetical situation, imagine a business that offers all its customers a 30-day credit period, which is fairly common […]

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What is a Balance sheet?

A balance sheet is a quick picture of the financial condition of a business at a specific period in time. The activities of a business fall into two separate groups that are reported by an accountant. They are profit-making activities, which includes sales and expenses. This can also be referred to as operating activities. There […]

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Assets and Liabilities

Making a profit in a business is derived from several different areas. It can get a little complicated because just as in our personal lives, business is run on credit as well. Many businesses sell their products to their customers on credit. Accountants use an asset account called accounts receivable to record the total amount […]

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