The Mary Kay success story.

Mary Kay Ash has left an indelible mark on American entrepreneurship and in this single feat she has accomplished her life’s vision… to prove that a woman can be just as valuable to business as any man. She is not remembered as one of the most notable female entrepreneurs, but simply as one of the best entrepreneurs.

Many people fail to realize that Mary Kay Ash started her now infamous beauty consultant franchise after she already had decades of experience in direct selling under her belt. She started peddling encyclopedias door to door, moved on to selling home products for a company called Stanley’s Home Products and then left to conquer World Gift Co. At World Gift Co. after a career in direct sales that covered almost three decades, ten of which was spent at that company she managed to get onto the board of directors. However in 1962 she resigned for an early retirement after another one of her male associates was promoted ahead of her to make twice her salary.

What you need to do to be a successful entrepreneur

When you talk about quality, you talk about an essential or distinctive characteristic, property, or attribute. When you talk about quality of a successful entrepreneur, you are talking about a class of its own that builds a solid foundation to storm through the sea of harshness and challenges that ordinary people will scream in disguise and back to their comfort zone for security. To develop and harness successful qualities that extraordinary entrepreneurs share in common, let us start with 3 essential seeds that will be the starting point before we continue with more serious stuff.

1. Translate Your Dream into a Written Goal

A dream goal is only a wish list, only a potential fuel that can bring you to a new height. Goal setting is not just about dreaming what you inspire to be or have; it is about transformation that will evolve during a lifetime process through concise statement containing a clear definiteness of purpose. It will be the pilot for you to make ends meet and maintain consistency throughout turbulent times should you faces difficulty, economically or financially. Try to write a goal with a S.M.A.R.T concept (Specific, Measurable, Attainable, Relevant, Time-frame).

How to make a career from finding solutions

In essence, every organization is in the business of finding solutions and selling them to their customers. The Government is in the business of finding solutions. Making a career from the possession of well developed skills in this area is therefore relatively straightforward whether your sights are set on working within an organization or on developing a business of your own.

If your preference is to work as an employee for an organization, it is worth noting that recruitment advertisements often use language such as "solution-focused" and "can do attitude". What they are looking for is someone who has a track record of finding solutions in their work. Therefore an ability to demonstrate your skills in this area, particularly when backed up by actual examples of occasions when you have done so with a positive result, can be a great advantage when searching for a job.

Benefits of running a vending machine business

Imagine spending a family vacation on a beach in Tahiti, while back home in Tulsa, someone walks up to a gumball vending machine, puts some coins in, and "Ka Ching!", you've got money in the bank!

You're not dreaming. It's the reality of running a vending machine business.

Vending machines are everywhere these days. You can buy cigarettes, soft-drinks, candy, coffee and many other items from a vending machine. And each time someone puts coins in a machine, they're putting money into the pockets of the owner who's not even there.
If that got you thinking about running a vending machine business, here are more benefits to consider:

1. It's a multi-billion dollar industry. 

It has been reported that vending is the largest, all cash industry in the world. According to Vending Times, total sales through vending machines in 2006 exceeded $41 billion. It's legitimate too.

2. It's a 100% Cash Business

As mentioned above, all transactions are done in cash. As a business owner, this means that you'll have no problems with your cash flow. There are also no collection hassles and bad debts to manage, unlike most other conventional businesses.

How much is your time worth?

Are you a consultant, coach, freelance professional, independent contractor or newly started small business entrepreneur?

Are you having a difficult time determing what the value of what 1 hour of your time is worth? The first thing that you must realize is that whatever the amount of money you would like to make in one year, you need to double it. And the reason why is that you have include the cost of taxes, insurances and unforeseen costs. Indivudual taxes and health insurance usually totals somewhere about 80% on top of your regular hourly rate and then add 20%. So that essentially means your rate would be double.

Here's an example. Say that you are a consultant and at your former employer your salary was $85,000 a year and you say to yourself, if I go out on my own, I should be able to make at least $100,000 a year.

Franchise information on Checkers

This writer can conveniently visit a Checkers/Rally restaurant, at least 11 of them, from where he currently lives in Staten Island, New York. The locations are among the current 820-plus stores found nationwide. Checkers/Rally competes strongly with other major players in the quick service restaurant (QSR) industry. It actively engages in branding itself in its identified market segment as the place to go when it comes to serving customers’ desires for “burgers, fries and colas” almost right away thru its standard double drive-thru lanes, offered at great values. It has grown since its establishment in 1986 in Mobile, Alabama, and has since merged with Rally (founded in 1985 in Louisville, Kentucky) in 1999.
Those on the look-out for franchising opportunities may well consider studying more closely what Checkers/Rally has lined up for its prospective franchisees. It explains most succinctly on its website why great opportunities await those who qualify, along the following critical areas: value network, expert franchise coaches, expert training (4-week intensive restaurant training program), marketing and advertising, and supply chain performance. See more content here.

The best small business ideas

The best business idea is one that fits you and the market. When gathering new ideas for your business, the best idea should fall somewhere in these three categories: It must fill a need in the marketplace, discover a better use for an existing product or produce an entirely new product or invention. Now that you know what your idea requirements are, it is time to research the vast possibilities.

When searching for a new business, ask yourself if your idea meets at least one of these criteria.

Filling a need in the marketplace: Previously, I struggled with my coffee cup while grocery shopping but, last week, I was pleasantly surprised to see drink holders attached to my shopping cart. Somebody saw a need and came up with a solution. Do not think that because someone has already improved on an idea, that there is no room for improvement. Take a close look at your shopping cart. Have you ever been loading groceries and have your cart roll away. Is there possibly a need for brakes on shopping carts? If you look carefully, there may be need to fulfill that no one has discovered yet.

The ten characteristics of good accounting information

Accounting involves the process of transforming data about an organisation's operations into information that various stakeholders can use for myriad reasons. However, accounting requires the production of good information according to specific standards. Good information possesses a significant number of ten characteristics.

1) Completeness

Good accounting information is complete. This means that it provides intended users with all the information that is necessary to fulfil their information needs and requirements. Completeness also suggests that all necessary information is included in any report that the organisation produces. The assumption is that there would be no error of omission in the information.

ACCOUNTING FUNDAMENTAL BY: Bayani D. Edlagan Ma. Cecilia S. Mercado

1. INTRODUCTION
   • This presentation covers the concepts and practice of accounting fundamental. From the concepts and information about accounting up to the accounting cycle, which includes journalizing, reversing and closing entries. Accounting is a profession similar to medicine and law. Such profession continually evolve and change as society and the needs of society change.
   • The objective of this presentation is to make people aware of how accounting works in relation to business and also how can it be helpful even in a simple way of living. This also emphasized the importance of accounting in any types of business. Little by little, you will be able to understand how accounting works and you will realize its significance to our daily living.
   • This presentation is based on the book of Bayani D. Edlagan and Ma. Cecilia S. Mercado, “Accounting Fundamental.”
2. CHAPTER 1 Introduction to Accounting Concepts and Practice
3. CHARACTERISTICS OF ACCOUNTING INFORMATION
   • Accounting information is composed principally of financial data about business transactions, expressed in terms of money. The mere records of transactions are of little use in making “informed judgments and decisions.” The recorded data must be sorted and summarized before significant reports and analyses can be prepared.
   • The “basic raw materials” of accounting are composed of business transaction data. Its “primary end products” are composed of various summaries, analyses, and reports.
4. USERS OF ACCOUNTING INFORMATION
   • Accounting provides the techniques for accumulating and the language for communicating economic data to various categories of individuals and institutions. Investors in a business enterprise need information about its financial status and its future prospects. The government agencies are concerned with the financial activities of business organizations for purposes of taxation and regulation.
   • The individuals most dependent upon and most involved with the end products of accounting are those charged with the responsibility for directing the operations of enterprises.

Simply Accounting Basic Review

Simply Accounting 2005 Basic Review

I currently use Ver. 2004 and have not upgraded to v. 2005 but I can say that I love this software. It is inexpensive and does everything you need it to do.

I only took one accounting class (hated it) almost 15 years ago so I knew very little about how to keep my own books. I just started my own business and thought I should have some formal record of my financials even if my accountant would have to clean it up later. Simply accounting had wonderful tutorials on CD (included) and I was able to go directly to what area I needed help with. I have to admit that I had to start over with a new company a couple of times because I messed up some entries, but that was because I am not an accountant and didn't want a bunch of adjustments to correct entries.

Intermediate Financial Accounting II

Prerequisite:
This course is a continuation of Accounting 301, Intermediate Financial Accounting I. The course is designed to give students an in-depth introduction to those financial accounting principles and concepts governing the measurement and reporting of assets and liablities. Students will be expected to demonstrate proficiency in applying technical concepts to selected problems. Students will also be expected to use the FARS database to research assigned case studies.

Intermediate Financial Accounting I

Prerequisite: ACCTG 202, and be accepted into upper division accounting course work.
This course builds upon the principles learned in Accounting 201 and 202. The course is designed to give students an in-depth introduction to financial accounting standards and the framework underlying those standards, the measurement and reporting of the elements of the financial statements, and the use of the time value of money concept in accounting. Students will be expected to demonstrate proficiency in applying technical concepts to selected homework problems. Students will also be expected to use the Financial Accounting Research System (FARS) database to research assigned case studies.

Volunteer Income Tax Assistance

Prerequisite
Learn basic tax law and then apply knowledge in a Volunteer Income Tax Assistance service center on campus. The first six weeks of the course will be spent learning the basic material for income tax preparation. Upon successful completion of the IRS exam, the remaining part of the course will involve tax return preparation. This class may be repeated for a maximum of four credits.

Financial Accounting

This introductory course is designed to give students an introduction to financial accounting and reporting concepts including an overview of the accounting cycle, financial statements, related disclosures, and the ethical responsibility of accountants in business. Students will be expected to demonstrate proficiency in applying technical concepts to selected homework problems using word processing and spreadsheet applications. Students will also need to demonstrate writing proficiency in their assignments.

Introduction

A an integrated major, accounting not only prepares you with job-ready skills in accounting but also allows the selection of other courses in packaging a bachelor's degree to fit your individual needs and goals. As an accounting student, you have the major most often requested by recruiters who come to campuses nationwide to interview. The following possible combinations illustrate the flexibility of the integrated accounting major. If after graduation you are planning to: 1. enter the work-force, select a minor or 2 clusters of courses to enhance your marketability; 2. pursue a Masters in Accounting (MAcc) degree, minor in business to satisfy the business core requirement of a MAcc program; 3. pursue a Masters in Business Administration (MBA) degree, choose your minor carefully. Some programs prefer students who have not taken much business coursework. If you desire to be admitted into such a program, avoid a business minor. With other MBA programs, a business minor will allow you to complete the normal two-year program in just one year; 4. get a law degree, consider minoring in English or Political Science; 5. prepare for international business, consider a minor in a foreign language and an MBA.

International Financial Reporting Standards

Structure of IFRS

IFRS are considered a "principles based" set of standards in that they establish broad rules as well as dictating specific treatments.

International Financial Reporting Standards comprise:

• International Financial Reporting Standards (IFRS)—standards issued after 2001
• International Accounting Standards (IAS)—standards issued before 2001
• Interpretations originated from the International Financial Reporting Interpretations Committee (IFRIC)—issued after 2001
• Standing Interpretations Committee (SIC)—issued before 2001
• Framework for the Preparation and Presentation of Financial Statements (1989)

IAS 8 Par. 11

"In making the judgement described in paragraph 10, management shall refer to, and consider the applicability of, the following sources in descending order:

(a) the requirements and guidance in Standards and Interpretations dealing with similar and related issues; and

(b) the definitions, recognition criteria and measurement concepts for assets, liabilities, income and expenses in the Framework."

Accounting Associate

Our Corporate office in Houston, Texas is seeking to fill an immediate position in the Accounting Department. 

Primary Objective of this Position:

Assist the Finance Manager with the following daily, weekly and monthly processes.

Essential Functions:

Accounts Payable

• High volume communication with vendors via phone, email or fax.
• Assist with matching, coding, and enter A/P vendor invoices.
• Audit expense reports – verify receipts to expense report per Expense Reimbursement Policy and input into Great Plains.
• File all open invoices and check copies on a weekly basis.
• Complete and distribute credit applications as requested.
• Maintain monthly utility payment schedules/expectations for all facilities.
• Sort and distribute incoming vendor invoices for departmental approvals daily.
• Inputs new vendors’ information in Great Plains.
• Responsible for running weekly check runs for utilities and expense report reimbursement.
• Assist with the complete process of A/P check runs as needed.
• Assist the Accounts Payable Manager daily with immediate needs of the department.
• Assist with 1099 processing – year end.

Accounts Receivable

• Post daily cash transactions into Great Plains.
• Complete account reconciliations as needed.
• Assist Credit Manager with incoming calls.
• Key credit, debit, and return memos as needed.
• Run the unapplied cash report weekly.
• Perform weekly aging clean up.
• Process and mail twice monthly statements at the beginning of the month. 
• Assists with credit applications as needed.

Requirements
Education and/or Experience Required:

• Some college course work
• Familiar with standard accounting concepts, practices and procedures
• 2-5 years experience in the accounting field

Knowledge, Skills and Abilities:

• Knowledge of Microsoft Dynamics - Great Plains is a Major PLUS!
• Excellent time management skills
• Ability to work under pressure and within time frames
• Good decision skills
• Proficient in Windows based programs including Word and Excel

BASIC ACCOUNTING for Non-Accountants

Many business owners postpone their record keeping tasks till a free moment as a choir because they do not understand the concepts or the necessity.  This webinar is designed for the owner who has very little accounting knowledge.

Accounting is the "language" of business that can tell you if you are making a profit, whether your gross margins are consistent with industry ratios, what is the status of your owner's equity investment and much more.  Accounting statements will be required by your lenders, investors, the IRS and yourself to track the progress of your business.

Structured Settlement Money

Structured Settlements Questions

When you learn that you are going to receive a
structured settlement, a lot of times you have
questions about what a structured settlement is. So
here are some of the more frequently asked questions
about structured settlements, other than the most important, which is:

Plan Your Retirement Income With Single Premium Deferred Annuity

A single premium deferred annuity is one of the most solid and dependable investments you can make. It is a way of sheltering your investment against taxation while it builds towards your retirement, allowing you the possibility of replacing some of the pension income which is now being eroded. Pensions are becoming ever less stable as the years go by, with inflation reducing their spending power, and an increase in the aged population meaning there are fewer funds to go round. It makes sense to take control of the situation and plan your own retirement if you are able to do so.

The tax break is the great advantage offered by the single premium deferred annuity, but it is important not to over concentrate on this. A tax efficient investment is useless unless it can generate enough income for tax to be paid on in the first place. Annuities have the great benefit of being guaranteed, and are a great starting point for your overall retirement plans. Combining them with other instruments can give you an even better chance of having your retirement income needs completely met.

How To Use A Structured Settlement Calculator To Plan Your Budget

A structured settlement calculator will tell you exactly how much money you will receive from an injury award given by a court. It will also help you make the choice of whether or not to apply to the court to change the terms of the award and get the money straight away, if that is allowed. If it is not, there is always the option of using a company which will buy your contract. Your structured settlement calculator can help you to decide whether this is the right thing to do, and, if it is, it can help you to decide between providers.

These injury based awards can happen for a variety of reasons. Although health and safety regulations in industry have become ever more strict, there are still a great many cases of people being injured in the workplace, and often the employer is held liable. Some professions such as the medical profession have an inbuilt high risk factor which needs to be covered by insurance. An award for medical malpractice can amount to a huge figure if the injury will be long term and persistent.

The settlement you are awarded is intended to meet your needs over time, and for that reason it is preferred that you take the award in installments. The structured settlement calculator will show you exactly what you will receive when the amount of the award becomes active. The amounts awarded are often not just given at regular intervals, but also incorporate irregular payments and lump sums. Sitting down for a few minutes with the calculator can help you plan your future.

How To Make Sure That You Get The Best Life Annuity Rates

Life annuity rates can vary from product to product, depending on the exact terms of the annuity. Which product is right for you will depend on exactly what you are hoping to achieve from your life annuity investment, and for how long you intend to keep the annuity going. Annuities are excellent investments for preparing a retirement fund, because they effectively combine insurance and investment. No-one can be sure how many years they will live for after they are retired, and investing through an annuity can take away a lot of the uncertainty.

The insurance company offering the annuity effectively takes on the risk of how long you might live for. It is easy for them to do this, as they can just use statistics and probability to pool that risk across large numbers of people. While the individual may not know whether they are going to live to be sixty-five or ninety-five, the insurance company will know that the risks will even out across large numbers of people.

How To Weigh Up The Pros And Cons Of Annuities

The pros and cons of annuities need to considered before you make any firm choices. Annuities represent a great opportunity to safeguard your future and your retirement, but they can also be fraught with danger if you do not carry out your research thoroughly. The most important positive feature of retirement annuities is that they allow the owner to build up a retirement fund without the paying or income tax. Tax is only payable when money is withdrawn from the annuity plan.

The other major positive feature of annuities is their safety and reliability in an ever changing economic climate. At a time when inflation is eroding the value of traditional savings, and company pensions are becoming ever less reliable, the need is paramount for something which can provide a secure future. Annuities can fit this role, but only if they are chosen carefully. Annuities which are linked to the stock market through mutual funds inevitably carry a higher degree of risk.

Annuities can also be an important protection against unexpected events which can otherwise devastate normal family life. A structured annuity can provide a regular payout in case of serious injury. They can work extremely well in that role, because they are flexible. Although the order for payout has to come from a court, the actual choice as to when payments are made, how much is paid out, and how long the payouts continue is entirely yours. If you know you are going to have other support for some time, you can defer the payments into the future.

How To Choose Between A Lump Sum Annuity And Regular Payments

A lump sum annuity can be offered in a variety of circumstances, and there is no doubt that it will always be tempting to take it. We all have ongoing expenses which need to be met, and we all have something which we could use money for right now. It is important to be able to consider these immediate needs in the context of the overall picture, and your potential needs for money in the future. It is also vital to think about your own personal ability to manage money.

There are many cases where you will be presented with the choice of either receiving a lump sum annuity or a series of payments over time. Many large competition and lottery wins are given in this way. If you have won a court case for injury compensation you will usually receive money over time, but there may be an option to apply to the court to receive all of the money at once. There is little point in doing this unless you have a specific reason for doing so, as it can have negative tax implications.

There are cases where a lump sum annuity will be of great benefit to the award winner. Maybe you are skilled at a certain line of business, but lack the capital to get started. An early release of the money which is due to you would be the obvious solution, as it would allow you to get started in business without needing to prepare business proposals and attempt to borrow money. If the business begins making a profit quickly, you could have the income which you would have got from the annuity as well as the capital investment in the business.

How The Split Annuity Can Combine The Benefits Of Immediate And Deferred Products

A split annuity can help you to combine the benefits of different annuity products, and to reduce the risk involved to the lowest possible level. It is important to understand right at the start that annuities are designed to be the most secure of financial instruments, and that they are not meant to be high gain speculative vehicles. You need to take some time to decide whether investing in annuities as a whole is right for you, before you can decide whether or not to split the annuity.

Annuities are becoming increasingly popular, largely due to the fact that they can replace the pensions and other financial instruments which are becoming ever less reliable. As the average age of the population increases, so the burden on pension funds becomes ever greater. Combine this with the fact that inflation continues to erode the value of saved money, and you can easily see why the fixed annuity has become such a popular option. Before you rush in, though, there are several important facts you need to consider.

A split annuity will combine the strength and solidity of a single premium deferred annuity, which will grow with time in a very tax efficient manner, and a single premium immediate annuity, which begins paying you a monthly income straight away. The vast majority of investments are taxed on an annual basis. Everything which the investment has earned in a particular tax year will become liable for taxation at the end of that year. Annuities confer the great benefit of being able to defer taxation until the money is taken out again during retirement.

Discover The Best Way To Deal With Annuity Taxes

Annuity taxes can and indeed should play a significant role in determining which investment is right for you. It does have to be stressed, of course, that tax relief is never the most important consideration, because if you make a bad investment and receive no income at all, it will come as absolutely no consolation that you are not paying any tax. The profitability or otherwise of the investment vehicle must be the most important consideration. Only when this profitability is guaranteed, or at least highly likely, can you really afford to be worrying about taxation.

Fixed annuities are becoming more popular than ever, as more people seek to protect their wealth and investment against erosion by inflation, and against confiscatory taxation. A bank certificate of deposit, which can be a very effective short term investment, still has the problem of being taxed on annual income. This unfortunate feature has the effect of dissipating the money which would otherwise have accrued using compound interest. It is for this reason that certificates of deposit are rarely considered as suitable investments for a retirement fund.

What To Look For When You Need An Annuity Buyout

An annuity buyout can provide you with ready cash to spend now, but it must be done carefully to avoid pitfalls. There are a great many companies who will advertise offering to buy out your annuity, but as with every other area of finance there are always some who are only out to make money, and who will not give you the best advice for your own situation. If you are considering a buyout, make sure you take enough time to do your research well, and always get multiple opinions before you act.

Many of the frustrated people looking for a structured settlement buyout are those who have been awarded compensation as a result of an injury. This can often happen as a result of a medical malpractice claim, or it can happen because of an accident in the workplace. Although very few doctors or businesses will be able to pay out the sums awarded, there is a big market in insurance which allows them to pool the risk. The payouts can be very large where there is damage which will last for years.

What To Consider When Comparing A CD Annuity With A Deferred Fixed Annuity

A CD annuity, or Certificate of Deposit, operates in a significantly different way from a standard annuity. To decide between the two, you will first need to define your objectives as clearly as possible. One of the most important considerations when choosing any annuity is safety. As annuities are low interest investment vehicles, they are a very poor risk if they are not completely safe. All annuities sold by reputable providers have a high degree of safety, but certificates of deposit are even safer. They are backed by the Government, who will return your money in the event of bank failure.

Although annuities are backed by very strong financial institutions, they are not the Government and they do fail. If you choose this type of investment, it is strongly recommended that you check out your provider as thoroughly as possible. Independent rating companies can give you a very accurate assessment of the relative strength of a provider. It is exceedingly rare for a highly rated company of this type to go to the wall, but it can and does happen.

A Cash Structured Settlement

A cash structured settlement can seem like a good option, if you are the recipient of a court award based on damages for injury. This award could be the result of medical malpractice, it could be an injury sustained at work, or it could be a personal injury for which someone else is liable. As with any other possibility which could profoundly affect your financial future, it is something to be considered at great length. The companies who make such offers vary considerably in quality and reliability.

A structured settlement lump sum can confer several advantages. If there are immediate bills to settle, it can help you to do this without the need for interest or penalties to accrue any further. If there are immediate, urgent needs created by circumstances related to the injury you have sustained, you can use the money from this settlement to pay for these as quickly as possible. Finally, getting hold of the money as quickly as possible can give you the option to create your own investment program where you can control all of the variables.