Browsing: Finance Tips

Finance Tips Raising_The_Bar_What_are_financial_records
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Financial records are documents that represent transactions of an individual, business or any other organisation.  They typically include:  Cash flow statement Income statement Balance sheet Tax Returns Statement on retained earnings It’s useful to monitor them because they provide financial clarity.  They essentially aid analysis. They can be…

Finance Tips Raising_The_Bar_Making_use_of_a_savings_calculator
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Heidi is a young individual who wants to buy her own car soon. She has recently been promoted to a new position at work, which comes with a higher salary. She has assessed that in light of the amount of income she…

Finance Tips Raising_The_Bar_Saving_definition_according_to_economics
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The definition of savings according to Investopedia is “what a person has left over when the cost of his or her consumer expenditure is subtracted from the amount of disposable income earned in a given period of time”.  Savings is also defined as…

Finance Tips Raising_The_Bar_The_main_things_about_accounting_and_record_keeping
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Record keeping enables effective and efficient accounting. For any organisation, having a good system in place makes the accounting process much simpler. It saves time and money.  Why accounting and record keeping are vital:  Enables easy management – For an entrepreneur, having to stress about various aspects of running a…

Finance Tips Raising_The_Bar_The_business_record_Keeping_system_that_works_in_5_steps
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A business record keeping system exists for a number of reasons.   It is a key part of making sure that the business is fully compliant with the law and that the accounting process is simplified.  Identify which documents are records  Not every single document used is regarded…

Finance Tips Raising_The_Bar_How_to_save_money_from_your_salary
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Most of us have probably heard the stories of people who have blown their year-end bonuses before the end of the year, leaving them desperate for extra cash by the time back-to-school January adverts start being flighted on TV.  The lesson here, which some people are yet to…

Finance Tips Raising_The_Bar_5_saving_strategies_for_any_planning
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For any person interested in saving towards a particular goal, having a strategy is an important piece of the puzzle. It doesn’t always have to be an elaborate goal, but can even be something as simple as putting money aside to buy a…

Finance Tips Raising_The_Bar_Why_saving_is_so_important
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For many people, having the chance to start earning their own money is a welcome relief and an exciting time. Having a source of income is great, but it’s also important to keep in mind that there is also a responsibility…

Finance Tips Raising_The_Bar_The_basics_of_credit_analysis_and_types_of_risks
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A credit risk is the risk of default on a debt that may arise from a borrower failing to make required payments. The risk arises from the occurrence of some expected or unexpected events in the economy or the financial markets. Credit…

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