Why Small Business Needs Accounting

According to the NY Times, one of the ten reasons small businesses fail is due to improper or lack of accounting. Corporations spend a significant amount of money and hire accountants to report on the status of the company and maintain day to day operations. Yet, many small businesses end up failing to maintain proper accounting.

Accounting Helps with Operating Your Business
Proper Accounting helps pay employees and vendors; helps with customer invoicing, helps post payments; tracks your business assets and liabilities, and most importantly, it calculates any profits and losses. Small businesses cannot operate if they can not pay their employees or ignore vendors bills and continue receiving materials for their products. Often, those functions are ignored by small businesses due to lack of time thus resulting to work stoppages.

Accounting Provides Feedback
At the end of every period, may it be monthly or yearly, as small business owners, you have some idea of how you performed and accounting provides you the validation you need. It will tell you if you made a profit or loss. If you happen to have a loss, it will determine where your biggest expenses are coming from and if you did make a profit and still left with a small cash balance, it will probably tell you which customers havent paid and which customers are now delinquent. Small businesses fail when what they think is not true and this is the most important reason why small businesses need accounting.

Accounting Helps Comply With Legal and Contractual Obligations
The IRS, other government agencies, and banking covenants require businesses to provide a detailed accounting of their revenue and expenses. Depending on the size and entity type, it also requires you to have a balance sheet or listing of assets, liabilities, and equity. Accounting provides you with that information easily. It provides business owners the right amount of withholding, deductions, and back-up just incase they get audited.

Accounting Provides Non-Financial Insights
Many small businesses fail to realize that accounting is not just financial information. It has information on timing, customer information, employee information, and other information that may not necessarily be part of your financials. For example. a key non-financial trend that small business could pay attention to is their customer demographics, you can identify what your customers age, location, and how they order products and services and you can zone in on advertising to that demographics thus increasing revenue and could lead to increased profit. Another, key non-financial trend small business can pay attention to is monthly sales figures, when a small business realize that a continuous trend of slow monthly per year. A small business could either ramp-up advertising 30 days before as anticipation of the slow month or they could plan a family vacation.

Advantages Of Steel Detailing Drawing And Shop Drawing Structure

In construction industry steel detailing services plays an important role, with the help of steel detailing drawing you can create accurate building structure. Detail drawings of any building construction represent the members of each assembly and contain step by step instructions on how to fabricate each and every piece.

Steel detailing drawing requires skills in drafting, logic, reasoning, spatial visualization, and communication. A basic knowledge of general engineering principles and the methods of structural and steel fabrication are essential to the practice of this discipline. A computer-aided detailer also requires skills in using computers and an understanding of the specific CAD software he has to use.

Detailed structure shop drawing is the involvement of experienced engineers, architects and general contractor. A good steel detailer will work closely with a wide range of professionals so they can work to provide its customers a superior product. Shop drawing structure is also a necessary thing. It is not possible for us to construct buildings without them, but these drawings are very confusing, and it requires a special staff for the shop-drawing services within the time limit.

The structural detailer should also have knowledge of wind and gravity loads and material stresses. He must be familiar with different type of steel and other materials, architectural details of construction and be able to produce various types of beam-beam or column-column connections. Shop drawing structure is very useful in a whole range of manufacturing and construction businesses like plants, building construction, shipbuilding and naval and marine, and other similar industries.

The shop drawing structure must also be checked for accuracy and completeness by another detailer. During checking comments arising from approval and corrections must be resolved, and the original drawing must be updated accordingly. After this, the drawing may be released for use in construction.

Please visit for more information about steel detailing drawing and shop drawing structure or Drop an inquiry at: [emailprotected]

Interface Financial Group- A Franchise Opportunity

Interface Financial is not only about a unique invoice discounting system; it is also about a franchise opportunity for you! The opportunity that IFG wants to provide home workers with is unmatchable. Not only will franchisees get superb returns on their capital but they will also be able to expand and grow their franchise at their own convenience with little marketing costs. IFG will continuously provide you with plenty of support and guidance which will provide you with guaranteed success as Interface Financials will let you in onto two decades of business secrets!

The marketplace for invoice discounting is a part of the financial services of factory. This is one of the markets which continue to grow at a healthy rate irrespective of the world wide recession. The lower end of the sales volume scale, which happens to be Interfaces unique market niche, has been growing healthily for quite some time. Furthermore, Interface has been successful in working with smaller newly emerging businesses. Hence there is absolutely no need for you to worry about the market situation of your to-be-born franchise.

On the other hand, are you starting to wonder about how competent you are to become a part of IFG? Maybe you are concerned about your lack of a financial background; worry not! IFG will provide all its franchisees with high quality training by means of self-study, field training, formal training and other web-based training modules. In addition to this there will also be an IFG coaching program which will ensure that you leave the program with the ability only to succeed!

There are plenty of more reasons why you should join hands with Interface. After all, IFG has always made its way into the top of the Entrepreneur Magazines Franchise 500 rating list, Americas Top Global franchise rankings and Home Based franchise ranking. The Franchise Research Institute has also classified Interface as a World Class Franchise.

All this is just an investment away. Start right away and become a part of a key financial service industry. Do not let yourself work for money; within the convenience of your home and with superb returns for a small startup, let money work for you! Join IFG today to become part of a franchise which is one of the best of the best.

Foreclosure Tax Sales, Loan Modification, Delaying A Sheriff Sale, And More

Foreclosures for unpaid property taxes vary widely by state and county. Sometimes the house is auctioned off to satisfy the taxes. Other times, a lien or certificate is sold to the high bidder. And in some areas, no sale is conducted and the property is simply transferred from the homeowner to the county or other tax agency. In most jurisdictions, homeowners have the right to redeem their property after the auction for delinquent taxes.

The following are some defenses homeowners can still raise after a sheriff sale to delay or challenge the foreclosure process and auction:

* Irregularity in conducting the sale
* Sale price at auction was grossly inadequate
* Homeowners did not receive notice as required
* Sheriff sale was not advertised as required

Any physical problems with a property make proceeding with a foreclosure much less desirable for lenders. An appraisal, Broker’s Price Opinion, or other type of valuation from a trustworthy source should be included with any workout proposal, loan modification, or short sale request homeowners make if there are deficiencies in the condition of the house.

If borrowers run into a brick wall dealing with the mortgage servicing company, they can go a step above and contact the holder of the loan. Large banks, institutional lenders, Fannie Mae, and Freddie Mac, among others, will often push a servicer to intervene and work out a solution with homeowners to stop foreclosure, modify a loan, or delay a sheriff sale.

Most people think that Wall Street was primarily responsible for securitizing junk loans and unleashing the subprime crisis. In reality, though, over 50% of mortgage securitizations are guaranteed or issued by Fannie Mae and Freddie Mac (two government-sponsored enterprises), or Ginnie Mae (Government National Mortgage Association).

In a mortgage modification or other workout agreement, it is always easier to negotiate down interest charges, late fees, and other unexpended costs to the lender. These are costs the lender has not paid out of pocket, but has instead just tacked onto the loan balance. They can and should be negotiated away.

According to the Truth in Lending Act, homeowners can request their mortgage servicer to identify for them the person or company or organization that holds the mortgage. The servicer must comply with this request.

Sometimes homeowners are able to delay a sheriff sale over and over again. While this seems a little counter-intuitive, if the lender does not accept the request for a postponement, it may face liability for acting in bad faith. Pursuing foreclosure and using the courts is usually considered the last option, and if the owners are working on a mortgage modification or short sale, for instance, the county auction can be called off relatively easily.

Formation Of Company In Cyprus

Cyprus companies are registered under the Cyprus Companies Law CAP. The Companies Law, which is very similar to the English Companies Act 1948, provides that a register able charge, so far as it confers any security on the companys property or undertaking, is void against the liquidator and any creditor of the company unless the prescribed particulars of the charge together with the instrument creating it are submitted to the Registrar of Companies for filing. There is a 21 day time limit, though late registration is permissible with the leave of the court. Failure to register a charge in time makes the company and its officers liable to a default fine.

Nevertheless, registration is a perfection requirement and not a priority point and thus irrespective of whether the charge is registered or not, the agreement (creating the charge) between the parties will be upheld as a valid agreement.

The effect of non-registration is to avoid the security as against the liquidator and any creditor of the company. Any creditor includes a subsequent registered encumbrance even though he had express notice of the prior unregistered charge when he took his security.

The new law enabling covered bonds in Cyprus is also expected to open up new funding sources, since the lower credit risk covered bonds offer will certainly attract investors. Forming a company in Cyprus is an excellent step. We have very low taxation policies and we are growing year on year and becoming a very strong and vibrant business centre. A brief description of the main activities of the company is required to enable the drafting of the memorandum and articles of association. We are here to help guide you through the Cyprus Company Formation in the most efficient way we can. We have helped with the formation of Cyprus Companys for over 10 years now and work with some of the very best Cyprus Companys that offer this service.

Important to consider is if your Cyprus Offshore Company need to have a bank account, this can also be opened for the Cyprus Company easily, just let us know and we will send a Cyprus Bank Account application form to you as a PDF file, once this is filled, signed and returned to us we will go to the bank and get the account opened. Everything done Online and visit you to have to visit Cyprus.

The amount of registration fees is calculated in accordance with the amount of capital. When there is an increase of capital the fee is calculated according to the difference between the fee payable on the nominal capital of the company and the fee payable on the increased capital.

The formation and registration of the company (including operational matters such as printing the letterheads, setting up of statutory and accounting books, opening of bank accounts, etc) may take up to a maximum of one month. For More information visit on this website: –

Iraqi Dinar A Good Investment Option

Iraq has third largest oil reserve in the world and the Iraqi dinar is considered as a good investment option owing to an increase in oil production. The popularity of this currency has increased considerably over time. Many people prefer to buy dinar online.

Oil trading being the main asset of Iraq, it attracts a lot of investment from foreign countries every year. Oil trade has helped a great deal in developing the economic conditions of the country and many private investors are purchasing Iraqi dinar as investment. It is estimated that once the government there reach stability, the investors will make huge profits.

If you are planning to make an investment in the Iraqi currency, there are a few steps to follow:

– Do a proper research before investing and gain a good knowledge about new and old Iraqi dinar.

– There are good chances to get scammed in such an investment. Gather information about the anti counterfeiting measures of the foreign currency.

– It is very important to find an authentic dealer or else you may lose your money. The best way to buy is contacting your local bank. If they sell foreign currency, then that is the safest option. Another place to buy currency is online. It is not only fast but easy too. A good dealer will provide you with all the details and the information related to buying and the risk involved. You can easily browse online and contact a number of dealers.

Finding a credible and trustworthy dealer is a very important thing. You must write down all the doubts you have in mind and ask questions before finalizing the dealer. You can enquire from the dealer about their ratings with the Better Business bureau to check their credibility. Look for a dealer who has been in business for over 4 years. Also check with them the certificates of authenticity to see if the dinars are real. You should also see a copy of US treasury registration. Dont trust everything that a dealer has to say to you without verifying the facts.

You should also keep in mind that the return on any foreign currency is not guaranteed. Your profit will depend on a number of market factors. A lot of people have got good returns by investing in this currency over the years.

Be sure to do proper homework and take some advice from the experts before making any investment.

Automotive Repair Shop Software Review – For Repair Shop Owners

Automotive repair shop software is a tool that is designed to reduce to the barest minimum of time you spend on administrative activities, so that you can actually concentrate on the job, improve business work flow and make more profits.

Advanced technology and knowledge has moved car shop management activities and control to a higher level where you can handle much more jobs, work faster, and net more profits.

You can actually move your shop from the traditional time wasting method of filing carbon copy forms, and doing everything manually to tracking all activities electronically.

Good automotive repair shop software will handle all your jobs from the beginning to the end, thus making your shop administration far less boring.

The following are the features that make this software indispensable for every car repair centers that want to really jerk up their productivity.

1. Appointment Scheduling: You can easily plan your appointments with customers ahead of the time, and get information about when customers are due to arrive for their jobs and the time you allow for them.

2. Track Work in Progress: With a simple color code you can track the status of each job and know how they are progressing.

3. Check Your Level of Profitability: You can easily determine when you are making profit or otherwise with the right color code.

4. Car Parts Sales: You can sell auto parts over the counters without the input of the full details of customers, a great time and money saver.

In the situation where you have a lot of customers to deal with, automotive repair shop software will show you who you sell what to, and all the details associated with it.

You can also get all the information you need about customers’ histories, that will help you to quickly confirm and determine important issues like refund, recalls, etc.

5. Parts Management: The software can take care of issues like inventory control, price matrix, restock invoice tracking, etc, which will help you to have total control over parts movement and prices, and minimize losses altogether.

6. Marketing Management: A great marketing tool that will help you do follow up on customers by giving you information on them and helping you to send reminders, thank you cards, appointment scheduling time, etc.

Automotive repair shop software makes all your workshop activities a breeze. It turns every complexity into a simple process that will make your job less burdensome and more profitable.