Annoyed by the never ending deluge of credit card offers?
Call the Opt Out Line to get off the list.
The number is 1-888-5-OPT-OUT (1-888-567-8688)
There is also a website:
OptOutPrescreen
Thursday, November 1, 2007
Friday, October 19, 2007
Accounting Basics: The Balance Sheet
One of the fundamental components (for want of a better word) of accounting is the Balance Sheet. The balance sheet is often referred to as a statement of financial position. It can be described as a snapshot that shows the company's financial position at any given moment. Listed in the balance sheet are the company's assets, liabilities and owners equity.
If you view the balance sheet as a two column worksheet, the assets would be in the left column while the liabilities and owners equity would be in the right column. The two columns must be equal.
You won't be able to determine the company's profitability from the balance sheet. What the balance sheet will show is the solvency of the company. Analysts will look at various ratios (i.e. current ratio: current assets / current liabilities) to determine the company's financial well being.
Future entries in my Accounting Basics series will describe each of the components of the balance sheet.
If you view the balance sheet as a two column worksheet, the assets would be in the left column while the liabilities and owners equity would be in the right column. The two columns must be equal.
You won't be able to determine the company's profitability from the balance sheet. What the balance sheet will show is the solvency of the company. Analysts will look at various ratios (i.e. current ratio: current assets / current liabilities) to determine the company's financial well being.
Future entries in my Accounting Basics series will describe each of the components of the balance sheet.
Wednesday, October 3, 2007
Product Pricing Issues and Strategies
Another good article on BNET (can you tell I like this website). A lot of it is common sense. The helpful thing about the BNET website is how they present the article. It has a very good layout which highlights the main points. This particular article talks about issues and strategies regarding product pricing.
Understanding Pricing Issues on BNET
Understanding Pricing Issues on BNET
Friday, September 21, 2007
Another Free Office Suite of Products
I haven't looked at this new free office suite called IBM Lotus Symphony; but it looks like it could be pretty good. It appears to be an open suite of products (very universal) and they claim:
Here's the link to the page:
IBM Lotus Symphony
"With Lotus Symphony, you can import, edit and save a variety of file formats including Microsoft Office files. You can even export your documents to Adobe® Portable Document Format (PDF). The tools work with computers running both Microsoft Windows and Linux- environments, with support for Apple Macintosh planned for the future."The suite consists of three products:
- Lotus Symphony Documents (replacement for Word)
- Lotus Symphony Presentations (replacement for PowerPoint)
- Lotus Symphony Spreadsheets (replacement for Excel)
Here's the link to the page:
IBM Lotus Symphony
Thursday, September 6, 2007
Resume Writing Tip
Just happened to come across this article on MSN. Some interesting tips on resume writing. Includes a list of 'buzz words' you should avoid on your resume as well as a few what they call 'empty phrases' which should be avoided.
MSN Careers - What's Wrecking Your Resume
MSN Careers - What's Wrecking Your Resume
Thursday, August 30, 2007
Another Information Security Breach
This time on a government database. See the CNN Article:
Personal Information Stolen From 146,000 People - CNN
Anyone holding such information on the internet should be required to have their systems independently tested on an annual basis. Many company's have audits of their financial records and internal controls. Why not audit the security controls of their network?
Personal Information Stolen From 146,000 People - CNN
Anyone holding such information on the internet should be required to have their systems independently tested on an annual basis. Many company's have audits of their financial records and internal controls. Why not audit the security controls of their network?
Friday, August 24, 2007
Accounting Basics: Management Accounting vs. Financial Accounting
This 3rd installment in my "Accounting Basics" series will discuss the differences between Management Accounting and Financial Accounting.
The private accounting field can be further divided into two sub-categories depending on how the information generated by the accountant is used.
As its name implies, Management (or Managerial) Accounting provides that information which is used by managers within the company. The information provided can be as broad as long range financial projections or as detailed as analyzing cost variances (ie budget overages). Wikipedia defines management accounting as being " concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis in making informed business decisions that would allow them to be better equipped in their management and control functions."
While management accounting concerns the internal use of information, Financial Accounting concerns the external use of accounting information. Of course financial accounting concepts are used in management accounting. Financial accounting involves providing information which is useful to external users such as prospective buyers and investors, creditors, government agencies, etc. Financial Statements are the most provided piece of information. These include the Balance Sheet and Income Statement (to be explained in a future post). Wikipedia defines financial accounting as "the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, government agencies, owners, and other stakeholders. Financial accountancy is used to prepare accounting information for people outside the organization or not involved in the day to day running of the company."
The private accounting field can be further divided into two sub-categories depending on how the information generated by the accountant is used.
As its name implies, Management (or Managerial) Accounting provides that information which is used by managers within the company. The information provided can be as broad as long range financial projections or as detailed as analyzing cost variances (ie budget overages). Wikipedia defines management accounting as being " concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis in making informed business decisions that would allow them to be better equipped in their management and control functions."
While management accounting concerns the internal use of information, Financial Accounting concerns the external use of accounting information. Of course financial accounting concepts are used in management accounting. Financial accounting involves providing information which is useful to external users such as prospective buyers and investors, creditors, government agencies, etc. Financial Statements are the most provided piece of information. These include the Balance Sheet and Income Statement (to be explained in a future post). Wikipedia defines financial accounting as "the field of accountancy concerned with the preparation of financial statements for decision makers, such as stockholders, suppliers, banks, government agencies, owners, and other stakeholders. Financial accountancy is used to prepare accounting information for people outside the organization or not involved in the day to day running of the company."
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