Author: Complete Controller

The chief agronomist must be able to calculate all the costs required for a successful sowing season, from labor costs and fuel to the cost of fertilizer, seeds, pest control, and other removals. Mastering financial literacy at a personal level will allow you to work more effectively in the managerial sphere. You can discover more about agronomy as a forte from our article “What is the profession of an agronomist.”

How to manage your finances

First, you must record the current month’s planned income and expenses. A detailed spending plan cannot be held in your head, even if you have a good memory. It will help create an overall financial picture.

How to do it? To start, we draw up a table with all receipts and expenses on paper (or in Excel, as it suits you). It is essential to think over the aspects of life well and not miss anything. Although the first time, there will be shortcomings. It is impossible to carry out precise and correct planning right away. If you find any defects, you should record them in notes. This approach will help enhance the budgeting scheme for the next month. Then each following account will be better than the previous one.

Steps to help you control your budget

You should plan any trip to the store. Following a shopping checklist as closely as feasible will help save money. It is helpful to make a menu for several days, based on which it will be clear how many products you require to purchase and in what quantity. To a considerable extent, the ability to plan your expenses well is influenced by the skill of time management. We have discussed it in detail in our article “Personal time management or how to manage your time.”

• Spending accounting: You can write them down in a notebook or notepad or use specialized applications on your smartphone. It helps to detect unnecessary purchases and avoid them in the future.
• Putting aside money: There is always a risk of deprivation of a permanent income. It is essential that in case of an unforeseen situation, there is a reserve that will help stretch out for several months. It should be at least three salaries.
• Family budget: planning and controlling home finances

The well-being of a family relies to a large extent on budgeting skills. Written planning rules are also needed here. The savings capacity is no less important than accounting for income and expenses.

There is an exciting way to organize a household budget. It is called “10-20”. Its importance lies in the monthly saving of at least 10% of the entire income. Financial experts advise you to set the goal of accumulation immediately—for example, a vacation, a significant purchase, or a reserve for a rainy day.

“Seven Envelopes” is another way to handle a family budget. On the day of receiving wages, you need to distribute the money in seven envelopes. Their goals can be as follows (there may be fewer or more points, everything is individual here):

• Monthly payments.
• Nutrition.
• Money for children.
• Expenses for essential purchases (furniture, appliances, clothing).
• Cash for vacation, entertainment.
• Savings.
• “Joy” – funds left from the last month after making mandatory purchases and payments.

By the names, it is straightforward for what purposes the family budget is distributed.

Method “Four Envelopes.” This choice is equivalent to the previous one. But here, each envelope compares to a week of the month. This method’s drawback is the difficulty of allocating funds for specific expenses.

When trying to maintain a household budget successfully, it is enough to follow seven basic rules:

• Avoid debt. Avoid debt, unexpected loans, and bad credit cards whenever possible.
• Moderate accumulation and allocation of funds don’t accumulate just for hoarding. Choosing a specific goal (for example, buying a car) is advisable. Such motivation will enhance productivity.
• Each family member must comprehend how and why the budget is planned.
• Distribute income and expenses according to financial facts today.
• Be sure to set aside at least 10% of income in the reserve fund.
• At the end of a certain period (for example, a year), please the family with trips, purchases, and entertainment.
• Regularly, preferably every month, plan and record. Only stability will help to achieve results.

These are the few ways of saving out of your budget and managing your spending better. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The following sources of finances are chosen to be analyzed to access the necessary finance:

1. Equity Shares
2. Retained Earnings
3. Government Assistance
4. Loan Stock and Debentures
5. Mortgage
6. Lease or Hire Purchase
7. Term Finance

Retained earnings

The retained earnings are said to be the residual net earnings of the company after paying the dividends. The company saves it for future re-investment in its fundamental business. The retained earnings can be used to finance an organization’s property, plant, and equipment. Retained earnings can save the company large cash payments. The directors determine the dividend policy. A lot of retained earnings means that shareholders might expect considerable dividends. Retained earnings can be an attractive source of finance because it does not engage any shareholders or debtors. Its use can avoid issue cost which is generated in the issue of debentures or shares. 

Equity shares

As the name suggests, it is a type of equity financing. There are various ways to raise money by issuing stocks, e.g., new issues of ordinary shares, deferred ordinary stocks, preference shares, and right issues. A company can raise new issues of shares to raise its capital. It is a long-term external source of finance. The company does not have to repay its shareholders, although they can buy back its shares. The company is not liable for any interest or dividend payments, but shareholders expect some dividend payments at the end of each year.

Rights issues refer to issuing ordinary shares to existing shareholders. However, rights issued are offered relatively at a low price to ensure shareholders’ acceptance. Another way of equity share is preference shares. This type of issue can increase a company’s financial leverage, and it is more flexible than debt financing though it is relatively more costly. They are redeemable and do not carry voting rights. 

Government assistance

As the name suggests, Government assistance refers to the finance that the government provides in the form of cash grants or another form of direct assistance. The government provides grants to strengthen the national economy of a country. They can deliver massive financial rewards with just one proposal. The company which receives government assistance enjoys a high level of credibility. However, the paperwork for the government grant and the proposal-making process is very hefty and time-consuming. The company must abide by certain rules and laws. Not all firms are eligible to apply for government assistance. Location is an important factor. The grant is only provided when the firm’s operation is inside the boundaries of the country.

Loan stock and debentures

Loan Stock is a form of long-term debt financing. The company raises money by issuing debt with fixed-rate interest on a half-year or annual basis. Debentures are written acknowledgment of loan stocks which states conditions about interest payments and repayment of the loan. They can be either secured or unsecured. 

Debentures are lower in cost as compared to preference and equity shares. Nonetheless, they increase the financial leverage and risk of an organization. The debentures are redeemable but require a large amount of cash outflow for redemption. The interest payments are highly obligatory anyhow; it is a tax-deductible expenditure, therefore, sales tax.

Mortgage

A commercial mortgage is a type of loan where the firm agrees with a lender (bank or financial institution). All the cash is received at the beginning of the agreement, and then the company makes regular payments to the lender in full over a specific and agreed period. The land or building is used as collateral. The interest payments on the money can either be fixed or variable.

The commercial mortgage has a lower interest rate and may result in substantial capital growth over a long period. As the period of the mortgage is typically long, the company would be able to focus on other financial matters. Mortgages are less difficult and least costly to terminate than long-term lease agreements. However, the property’s security and maintenance are the company’s responsibility.

Lease or hire Purchase

Lease and Hire Purchase is another type of finance source that allows a business to use an asset in exchange for regular payments over a fixed period. The company selects its property, plant, or equipment it demands, and the financial institute then buys that asset on behalf of the firm. 

Hire Purchase

The company becomes the owner of the asset after all the payments are made. This transfer of ownership is based on the payment of the fee option to purchase, otherwise automatically. From the initiation of the agreement, the firm claims the ownership of the asset, which results in substantial tax benefits and incentives. The maintenance of the asset is the responsibility of the firm in hire purchase. 

Lease

In a lease, ownership is never transferred to the firm. In its place, the leasing institutions enjoy capital allowances (e.g., tax), and some of the benefits are passed on to the firm in the form of lowered rental rates.

Finance lease

This is most like a hire purchase. Also known as a full payout lease, the leasing institution fully obtains the asset of cost and other charges over the lease period. Even though the company does not own the asset, it has most of the risks and rewards of the asset, e.g., maintenance and insurance of the asset.

Operating lease

An operating lease is often used when the company requires the asset for a short period. The leasing company leases the asset to the firm, and after the lease period, the asset is leased out again to another user. Therefore, the full recovery of the asset’s cost is not made in the operating lease.

Lease or hire Purchase is long-term finance. It might be extremely costly if the company decides to terminate the lease agreement early. The lease and hire purchase methods to have regular payments throughout the lease agreement will aid in adequately budgeting and forecasting for the firm. 

Term finance

The term finance or term loan is the basic source of long-term debt financing used by companies for the acquisition of non-current assets including land and building. It is payable over some time with fixed, regular installments. The interest on term loans is deductible hence saving tax in contrast to equity and preference dividend payments. It has a lower issue cost than equity financing. Alteration of the debt instrument’s maturity can occur regarding an organization’s capital requirement. 

Terms loans are legally bound. Failure of interest or principal payment may lead to bankruptcy. It raises the financial leverage and cost of equity of a company. The term loan is usually secured financing, the asset against which the term loan is raised is known as primary security.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The tools and techniques presented in this article facilitate the financial performance evaluation of a company’s financial data. Performance evaluation generally includes analysis of financial statements. Evaluations require comparisons. The various techniques are given in detail below:

Common-size balance sheet

A common-size balance sheet is prepared by dividing each item on the balance sheet by the same period’s total assets and expressing the results as percentages, highlighting the composition of the balance sheet such as ‘what is the mix of assets being used?’, ‘How is the company financing itself?’, ‘How does one company’s balance sheet composition compare with that of peer companies?’, And ‘what are the reasons for any differences?’.

Common-size income statement

In a common-size income statement, we divide each income statement item by revenue or sometimes by total assets, especially in the case of the financial institution.

Cross-sectional statement

A cross-sectional statement compares a specific metric of one company with the same metric of another company or group of companies, allowing comparisons even though the companies might be of significantly different sizes or operating in different currencies.

Time Series technique

The time series technique is widely used in financial performance evaluation, for which analyzing the financial statements is particularly important. The performance over several years or quarters is compared in the time series. This method is also used for inter-company financial performance comparison. The trend developed from time series analysis can be used to predict future earnings, sales, or ratios. Estimation of future earnings is one of the most important factors investors take into consideration before investing. The positive future is what drives the investors into the company. Meanwhile, a dubious future means fewer investors interested in the company hence a decline in the stock prices.

Ratios

Ratios are widely and most used technique in analyzing financial statements. There are many relationships between financial accounts and between expected relationships from one point in time to another. Ratios are a helpful way of expressing these relationships. Ratios express one quantity about another. A detailed explanation of the ratio is given in the next section.

Risk versus an average gain

Estimation of risk and average gain also plays an important role in the financial performance evaluation of the company. Though it cannot be accurately estimated, an approximate estimation of risks and gain are required as the automotive industry has a lot of risks but incredibly low gain. The risk of a company is calculated with the coefficient of the standard deviation of companies’ total revenue. Similarly, gains are estimated for each company by calculating the average return rate on assets and then compared with risk.

Introduction to financial ratio analysis

Financial analysis tools can be useful in assessing a company’s performance and trends in that performance. There are various techniques of financial analysis such as ratios, common–size analysis, Cross-sectional analysis, Trend analysis, etc. Financial ratio analysis is one of the best tools for the performance evaluation of any company.

The financial ratio is the numeric outcome obtained by dividing one financial data by another and is used to express the relativity of different financial variables. Balance sheets and income statements are the two most important and most used sources of financial information when calculating ratios. The financial ratio is the numeric outcome obtained by dividing one financial data by another and is used to express the relativity of different financial variables. Financial ratio analysis involves calculating and analyzing ratios that use data from one, two, or more financial statements.

Purpose of ratio analysis

The value of ratio analysis is that it can evaluate past performance, assess the company’s current financial position, and gain insights helpful in projecting future results. Financial ratios provide insights into:

• A company’s financial flexibility or ability to obtain the cash required to grow and meet its obligations, even if unexpected circumstances develop.
• The ability of the management
• Changes in the company and industry over time
• Comparability with peer companies or the relevant industry
• Limitations of ratio analysis

Limitations include the following:

• Companies may have divisions operating in many different industries. This can make it difficult to find comparable industry ratios for comparison purposes.
• One set of ratios may indicate a problem, while another may indicate that the potential problem is only short-term.

Only a few ratios are considered as the number of ratios that exist is too much. So, it is impossible to calculate all the ratios. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Supply Chain Management is the action of supplying goods, purchasing, transportation, and physical distribution properly. The primary purpose of Supply Chain Management is to provide the goods and services in a proper manner. Companies around the world are in a struggle to represent their best to their customers, and they are finding new competitive sources. This is called supply chain management. The name “relationships” gives a big shelter to supply chain management. There are different types of relationships, such as strategic, tactical, transactional, internal, and so on. These relationships are more into members of the supply and chain community. The important part of any organization is supply chain management. If this factor works properly, an organization can achieve its goal successfully.

Supply chain management is an essential part of any business. It is the process that tells how a company functions and needs to work together and how to create a business relationship with customers and suppliers.

Role of Supply Chain Management CM explained further below:

• Sales and Marketing
• Finance
• Operations
• Human Resource

For the sake of sales and marketing, the organization will use sales promotion strategies such as product upgrades, gift cards, campaigns of marketing, and the focus being impulsive buying. Leading corporations inspire the company to invent some new marketing promotions.

The finance department has two areas focused on financial reporting and management accounting. These functions have different functions, but working together can enhance the best financial position for the company.

Operation Management is evolved to maintain the position of any multinational organization.   The ten areas represent many strategic areas, such as:

• Goods and services, which are design and product material
• Management of Inventory
• Layout Design and Strategy
• Strategy of location
• Maintenance
• Process and Capacity Design
• Quality Management
• Supply Chain Management

Human resources take care of current and future demands and supplies. HR is always ready to work for future demands, and HR is training for skills needed in production.

Key drivers for achieving an Integrated Supply Chain Strategy in an Organization

Some key drivers will help an organization in achieving an integrated supply chain:

Facilities:

The most considerable responsibility of the facilities manager is they confirm the quality of the output facilities that have to be maintained by the staff. Proper quality reviews and checks by the operation should be done correctly.

Inventory:

Inventory management should follow the system of JIT, also known as Just in Time. This system delivers the order to their customers as soon as they get the order.

Information:

A progressive multinational corporation has hands-on information because their IT is powerful as it handles daily sales and orders from customers.

Sourcing:

A prolific firm will be strong in its good sourcing if it begins with direct and indirect suppliers because it has recognized the significant effect of a large, global supply chain. Therefore, the company will directly work with its suppliers.

Pricing:

Pricing of products and services should be in conjunction with “price building” and “psychological pricing.” That is why top-listed corporations hold the world’s most significant share of well-known brand equity.

Globalization:

It has become a sign of globalization because every organization wants to be the leading corporation in the world.

Technology:

To reduce the turnaround time and improve functionality, reputable firms work closely to automate their supply chain management systems channels. Whenever there is a reduction in the inventory level or hike in demand, the automated ERP of the organization generates the invoices. It automatically relays to both ends of the chain.

Customer’s expectation:

Prominent firms give preference to their customers because of their feedback. Their customers are their family, so they develop new ideas to facilitate them, such as a mystery shopper checking the customer’s experiences and feedback.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Ten-year insurance is a concept that not everyone knows. However, with the real estate crisis and the millions of homes built during the real estate bubble in the US, the ten-year insurance term has been gaining popularity.

Initially, when you are going to work on a project, what do you think first? As a wise contractor, you think about making a good profit and reducing the risk of losing money. A ten-year insurance policy is the best option to make your work highly profitable. Let’s see what it is and how you can leverage it.

What is ten-year insurance?

Ten-year insurance guarantees the responsibilities of builders, developers, and architects of a building for material damage caused by defects that affect the stability or mechanical resistance of the building.

What risks does ten-year insurance cover

Ten-year insurance is backed by Law 38/1999, of November 5, on Building Planning. Its creation tried to solve those problems before the civil liability insurance partially remedied its publication that some professionals or promoters had.

For this, article 19 of the Law establishes three deadlines in which responsibilities can be demanded:

• Damages compromise the mechanical resistance and stability of the building. It takes ten years for those damages caused by defects that affect the foundation, the beams, or the slabs, among others.
• Damages that do not comply with the habitability requirements: up to three years for defects in construction elements or facilities.
• One year for defects that have occurred in the finishing or finishing elements of the work.
• Mandatory ten-year insurance
• The Law establishes its obligation for those buildings whose main destination is housing.

To make this obligation effective, it does not allow the inscription of the new work in the Property Registry, making it impossible for the developer to obtain mortgage financing or market the homes.

In 2002, a modification was made stating that it would not be enforceable if a single-family home were for the developer’s enjoyment.

However, the problem arises that the house can be transferred before ten years to a third party, which is unprotected. Therefore, the Law obliges the self-motor-seller to contract a guarantee for the remaining time until the ten years are completed.

Need for a Technical Control Office

The Technical Control Offices (OCT) are those engineering and architecture companies whose mission is to control the quality of the product, execution of the material of the building process, and apply the regulations. In short, the OCTs review and report on both the documents of the work as that what is being done is done according to the required quality.

The OCT supports the insurance company to be the one who issues the ten-year insurance since most insurers only admit risks if an OCT supervises the work.

However, there is also the possibility of contracting ten-year insurance without OCT if the building is finished, with very few insurance companies willing to assume these risks and demanding very high premiums.

Essential facts about builder’s risk insurance

1. It refers to construction insurance. It helps you when you cover all your construction projects during construction.
2. It covers the structure under the property construction or remodels project when homeowners’ policies will not work. It is a specialized part of property insurance. 
3. It covers all the materials and supplies you need to finish your construction project. They don’t pay from their pocket if the builder’s material is damaged due to flood, fire, or high winds. 
4. You can avail of this policy unless you finish your construction projects, whether the duration is up to three months, six months, or one year. An insurance policy will benefit you if the completion of your project takes longer. 
5. Builder’s risk insurance policy is comprehensive coverage that safe you from intentional acts, specific inclusions, or short fraud. 
6. It also covers your temporary structures, and you don’t need to pay for the damage to your scaffolding or constructor forms. 
7. This policy will cover the expense of others’ damage during construction. For example, if lightning ruins anything to your neighbor’s house or spreads fire to your project during construction, the builder’s risk insurance policy will give full coverage. 

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Real estate investment provides potential financial rewards as it outweighs the expenses. In this way, real estate investors earn money with a steady flow to protect financial freedom for the long haul. If you want to become a full-time real estate investor and save money for retirement, you are on the right path. You can have a constant rental income and establish a real estate business. For this, you will need one rental property. For investors, it sounds promising, and I’m sure you will get high returns due to real estate investments. Invest your money in the right place as housing conditions and the real estate market has excellent worth. The housing market prospers with the growth of the country’s economy.

Conduct real estate market analysis and take suggestions from an experienced real estate professional before purchasing your first rental property. If you want to grow and diversify your portfolio, make real estate investment decisions wise and evaluated. This way, you can also reap financial rewards from investment. There is no magic formula for winning high profits in the real estate business. You will have to study your potential investment before making any deal. To be successful in this industry, you must know everything about it, including long- and short-term benefits.

The real estate market is a reliable source of high profit and has great worth in the Colombian economy. Investors desire to have Real Estate Collective Investment Funds due to this fact. But what’s the reason for this wish? Is it a valuable option for investment in this sector?

These are some of the advantages and disadvantages of investing your money in this type of product:

The first thing to know is what a Real Estate Investment Fund is. According to many sources, real estate collective investment funds are the best investment policy that works as closed funds. They provide a minimum concentration of 75% of the fund’s total assets, among others, in support. It includes real estate located in Colombia or abroad, securities issued in a mortgage or real estate securitization processes, or fiduciary rights of autonomous assets formed by real estate.

Investment in this sector is also beneficial as a newspaper publication entitled in it. According to it, the real estate fund’s investment provides access to information about business because individual investors can’t do it alone. This investment will let you have a diversified portfolio, and you can produce high returns with lower volatility.

On the other hand, the same article indicates that the disadvantages are: having less liquidity, that is, having the asset and not being able to sell it quickly, and that the capital investment is medium and long term, so if you need returns in the short time, this product will not be adequate.

President of the Federation of Real Estate Livestock Farms, you must confirm that the fund has a reliable infrastructure to manage real estate. Also, you will have to take all real estate knowledge regarding policies. And bonds to insure against tenants.”

In any investment, you can win or lose, so it is best to consult with experts who can guide you and thus obtain the product that best suits you, according to your needs.

Tax and cash flow are the primary concern in real estate investment. Investors have to manage both equally as their biggest fight is losing money in taxes with their real estate. They offer tax incentives based on their variation, including the taxes on vacant land, industrial, rental house, shopping centers, apartments, commercial buildings, etc. Cash flow refers to a left-over amount. After collecting rent and paying debts, repairs, insurance, taxes, etc., you have it. Real estate investment provides you with a proper cash flow for retirement. This way, you can supplement your retirement years, including the income you earned from rental properties.

Most property investors emphasize cash flow, return on investment (ROI), CAP rate, and other financial indicators. That’s why real estate investment has a tremendous and highly beneficial impact on communities. As an investor, you can improve communities by maintaining properties, raising local tax revenues, and improving communities. With its direct impact, the lives of all the residents will improve greatly. You can also eliminate eyesores and enhance the self-esteem of community people by renovating dilapidated homes.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

The relationship between an entrepreneur and his accountant is like that of a doctor and his patient. But the reality is that entrepreneurs often tend to neglect the management and control of their income and expenses, especially those who are just starting.

As an entrepreneur, you should not be doing your business’s finances alone. If you have already decided to hire an accountant, you surely have some questions, such as: How do I ensure that it will respond to my needs? What services and documents do you have to give me? And what will be my final responsibility?

Here we present a guide on how to manage a relationship with an accountant.

Hire an experienced freelancer

There are certain clear requirements that your candidate must meet to guarantee their services:

In addition to being a certified accountant, the accountant must have certifications from professional associations Association of Certified Chartered Accountants. This makes it possible to verify that it is up to date, which is essential due to the continuous tax changes that occur.

Among the best sources for hiring is the famous “word of mouth,” that is, the recommendation of a person you trust. Ask him for data that reveals his expertise in the matter, such as growth figures for your market, which tax figure is best for you according to your activity, etc. You can also ask him if he does audits.

Seal the relationship with a contract

Once the professional is chosen, a service provision contract must be signed. What they must offer you, as a minimum, is to keep the accounting record of your company and the calculation of your tax obligations. This includes updating you on the changes in tax matters and supporting you in the event of any requirement from the Treasury.

It is customary to keep vouchers

Payment of taxes will be made from the financial information provided by your business. So, you must have control over it. The basic documents to deliver to your accountant are invoices, receipts, and all proof of income and expenses, in order and by month.

As a client, you need to receive a list of the financial record of the state of the company (business income and expenses) plus a record of the tax payments made by the accountant and their respective vouchers (certified by the corresponding authority). Among the taxes you will have to pay, depending on your activity, are:

• Income Tax (IRS): contribution to be made for the perception of income as a natural and legal person, following the Income Tax Law. It is paid once a month, and to calculate it, you must add all the invoicing that the client has issued.
• Value Added Tax (VAT): an indirect tax applied to the goods and services produced or marketed by the company. It is also paid once a month and is calculated based on a ratio of everything that was charged.
• Single Rate Business Tax: it is a tax that is applied to individuals and companies and that is also taxed on profits. If your ISR is higher than the IETU, you will only receive the first one.

It carries a periodicity. As an entrepreneur, you should demand these papers every month, not every time you remember.

Those documents prove that you fulfilled the tax obligations, and it must be remembered that in the event of any problem, the Ministry of Finance and Public Credit seeks and penalizes the businessman, not the accountant. For this reason, the entrepreneur must understand that although he delegates the accounting of the business to a professional, he is the one who controls that all the papers and payments are in order.

Get informed

There are some items you can deduct for the payment of taxes, such as the purchase of goods related to your business activity. Regarding invoices (tax receipt for the delivery of a product or service) and expenses, it is essential to consult your accountant about any questions so that he will keep a more accurate financial relationship with your company.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

In lexigraphy, arbitrage is essentially a riskless transaction when you purchase something, when the price or value is low, and sell when the price has skyrocketed in a quick period. In the contemporary scenario, in stock exchanges, such a transaction is typically referred to as short-selling, a practice that many investors and brokers discourage.

Market or exchanges, which are dominated by opinion leaders, at times conduct transactions that are arbitrage or speculative, whether a stock exchange, commodity exchange, or cryptocurrency exchange. Crypto Arbitrage allows you to make profits instantaneously, provided you have first-hand information. Keep in mind that crypto markets are still developing, and ample opportunities are available.

To have a vivid sense, let us assume that we take two countries, such as ABC and XYZ. The government of ABC announces news, publicly mentioning that they have banned Bitcoin Trading for life. This will trigger panic amongst the buyer, and they will gradually offload all the coins and convert them to fiat currency. With such news and complete offloading of the tokens, the entire market cryptocurrency crashes — however, owners of cryptocurrency in XYZ, where people are still sleeping and are entirely unaware of the panicking situation in the crypto exchange of ABC country. It is imperative to mention that the market has still not opened in XYZ country, and the price value of cryptocurrency remains unstirred. 

It implies that if an individual is a sharp-minded person with quick decision-making abilities and knows how the crypto exchange markets function, the person will purchase the cryptocurrency at the plummeted value in ABC country. Without wasting any time selling the coins in the crypto exchange in the XYZ country, the individual has not only earned a handsome profit but also indulged in the act of arbitration. 

So, in essence, the platform of crypto trading and crypto exchange provides a massive window of opportunity in the shape of crypto arbitrage. Below are some of the opportunities, along with examples. 

1. The cryptocurrency market is in its infancy. In 2010, the first official Bitcoin exchange opened its doors, as opposed to the conventional stock market, which commenced its operations in 1642. In the conventional stock exchange, the transfer of information is slow, and there are few buyers and sellers. Therefore, the level of competition is low. In cryptocurrency trading and exchange, you are the first person when it comes to arbitration due to fast-paced communication.
2. You cannot rule out the possibility of volatility in a cryptocurrency market. A normal person would consider it to be a bad proposition. On the other hand, a user who utilizes this volatility as an opportunity to conduct an arbitrage exchange will be excited. In totality, arbitrage trading, a traditionally risky investment, turns cryptocurrency exchange into a riskless endeavor and ensures that there is consistency in profitability.

Types of Arbitrage

This is not as easy as it sounds. Users have deduced a complex mix of strategies to overpower others. A few of these can be labeled as:

1. Simple arbitrage is trading in the same coin at the same time. 
2. Triangular arbitrage is simply seizing the opportunity of difference in cross-currency parity. Such as the example cited above ABC and XYZ country.
3. Convergence arbitrage is where things get interesting. It takes about short selling in true essence. You offload the Bitcoins at a high value, wait until the price of Bitcoins comes down, and at the same time, you buy back all the coins at a lower price (perhaps additional tokens). Hence, the profit you have earned is almost equivalent to the amount during convergence.

Future Index Arbitrage

A few crypto exchanges, for example, Bitmex, offer you the liberty to purchase Bitcoin on a futures contract. This is slightly a more complex crypto arbitrage in nature. Since the coins are being traded on futures, buying, or selling, you will need to quote the coin’s pricing by a factor in the interest rate per period. 

Crypto Arbitrage allows you to make profits instantaneously, provided you have first-hand information. Keep in mind that crypto markets are still developing, and ample opportunities are available.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Strategic management plays a significant role in improving business performance and marketing strategy in the competitive marketplace. On the other hand, effective strategic management will assist the organizations in achieving their sustainable financial position in the market; however, it also leads them towards achieving higher market share in the competitive marketplace. ABB management team wants to offer those services to the customers through that they make Dubai a center of leader power service provider which never compromises with the quality and comfort of their customers in any situation. The strategic management practices assist the organization in evaluating their internal and external environment, which further aids them in adopting those business strategies which lead them towards the successive level as well as motivates them to achieve a higher level of sustainability and productivity in the highly competitive marketplace. 

Effective strategic management practices have a positive role in improving the marketing strategies of the company as they help the management team in understanding the external environmental challenges in the organization through that they analyze the threat and opportunities which are motivational and effective for them in growing their business practices all over the world. Therefore, effective strategic management practices enable the firm to upgrade those strategies in the firm that help them provide high-quality services in the market that, in the future, will allow them to achieve those goals that are leading the company towards the achievement of higher success over its competitors.

Company background of Asea Brown Boveri (ABB)

ABB operates in the digital or electronic business. Nevertheless, it likewise has several additional subordinate companies. Asea Brown Boveri is considered one of the largest power engineering firms that assist consumers in actively utilizing electrical power and enhancing firm sustainability and productivity effectively. The company serves water, gas, and electronic utilities and commercial and industrial customers, along with a broad range of goods, services, and schemes for electricity plant automation, distribution, and transmission.

On the other hand, ABB offers an automation scheme for control, measurement, plant optimization, and motion, through a wide variety of businesses. It is revealed from the previous research that the company utilizes the growth strategy to expand and improves the sales and productivity level of the organization. It is evident from the previous studies that the company has made several steps to remain competitive in the market. On the other hand, they also adopted several market strategies to promote their organizational services all over the world.

Role of the management team

The management team plays a significant role in improving business practices all over the world. The number of strategic factors they adopted to bring positive change in the organizational practices of the company. These factors are explained below:

Innovation in technology

The management team mostly put more emphasis on bringing innovation in their technological practices that enable them to reduce the cost of manufacturing and wastage of products.

More global destinations to leverage 

The management team put significant emphasis on opportunities that provide them with continual expansion opportunities for both business destinations and leisure.

Use technology to enhance the facilities

The management team emphasized improving the services by using the technological factors that further enable them to increase revenue and fulfill customers’ needs.

Focus on diversified strategies

The company puts more emphasis on establishing a differentiated position in the market. Therefore, the management team of ABB usually focuses on diversification strategies that enable them to place their diverse position in the market; however, they also target many customers by providing valuable and cost-effective services in the market. About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When you look back, the history of marketing began a few decades ago. In contact with new digital technologies, the process crosses a milestone over time to reach a new dimension. We are talking today about digital marketing in all meeting rooms.

Digital marketing is all around us. It exploded two decades ago due to the growing need for companies to meet customer demand. It means an increasingly demanding clientele whose satisfaction necessarily requires a tailor-made approach.

Indeed, the terms digital point of sale or even order terminal are now common expressions. However, the very definition of digital marketing and its challenges remain little known to many people. The rest of this article will lift the veil on this activity firmly established in business strategy.

Marketing was already an important point in the public relations strategy of ambitious companies in the 1980s. It enabled modern structures to position themselves in the face of competition on the one hand and to stand out on the other.

Thanks to the discovery of new technologies and digital transformation that increased marketing impact two decades ago. A real performance catalyst, the promotion term, and the sales process are given an excellent atmosphere.

However, setting up a good digital marketing or web project policy is far from a formality. In this competitive environment, you must choose your weapons carefully. Here are the main tools for digital marketing.

Objectives of digital marketing

Over time, marketing has developed many techniques and especially many tools around the world. However, to understand the impact of these digital tools, it is necessary to define the objectives of digital marketing.

Companies, disciplines, and marketing players seek to strengthen the relationship with the client. To do this, the strategy must imperatively:

• Increase growth: the impact of growth hacking

A marketing strategy aims to increase a company’s growth in all these aspects. Digital marketing through growth hacking propels the activity of the company to develop services and products.

Develop traffic to websites

For a successful classic or digital marketing strategy, visibility is essential. This search for notoriety involves highlighting the websites of companies. Indeed, brands gain leads on the web through natural referencing on search engines.

Encourage website visitors to buy products

All companies want to expand their customer portfolio. To do this, they must convince the target of the products’ relevance. E-marketing campaigns achieve this goal by influencing visitors to their website.

Influencing internet users

The digital transformation of marketing also aims to shape the behavior of future customers. In addition to websites, social networks are great tools for awareness and persuasion. Companies create groups or communities whose goal is to guide customers’ future needs.

To win the loyalty of customers

The seller-customer relationship is based on trust. The company reassures its target by boosting its brand image on websites, social networks, and emails. Consequently, the customer will carry out his purchases confidently and be pushed to repeat his act.

Organic traffic capacities

Organic traffic is the natural traffic of visitors and existing clients of digital platforms. It is free and different from paid traffic. Businesses are working with the aim of more and more organic traffic to get 1st rank on SERPs (search engine page results). They try to achieve this goal by continuously implementing search engine optimization (SEO). Remember, your thought is wrong if you think SEO practice for web ranking will give you an ideal result within a month. White Hat SEO (a legitimate way of doing SEO) takes at least one year to deliver results.

You can achieve all the objectives mentioned above by making remarkable changes to your website. The variations must be effective at improving rankings. And do not forget to add the fittest keyword in your web content as it is a most necessary practice for 1st rank on SERPs. Building quality links to your website are one of the vital tactics that point to your business website in the digital world.

You can receive around 20,000 web visitors in a month from Google and Bing as an objective of organic traffic for digital platforms.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.