Author: Complete Controller

Running a business comes with its fair share of hassles and perks. While a business owner might have several added benefits from banks and other organizations that non-business owners don’t have, the hassles on business owners’ plates are no less. There is a lot to do to run smoothly, from managing the business operations and client relations to keeping the finances in check.

Finance management is one of the most crucial tasks for any business. Many SME owners mistake handling the finances either by themselves or ultimately not looking into the financial planning and depending entirely on hired accountants. In either scenario, the business can face quite a brunt if the finances go wrong.

However, proper financial management will not only keep your business afloat even when the revenue goes low, or the global economy gets a hit like the covid-19 pandemic. Here are top finance management tips to keep your business finances in order.

Implement Appropriate Bookkeeping Practices

The most important rule for the finance management of any company is implementing appropriate bookkeeping practices. Whether you have hired an accountant or a simple bookkeeper or your business is small, and you tend to handle the finances yourself, you must follow standard bookkeeping practices to keep a regular record of your business. Record all transactions in time and keep the payment receipts, invoices, and bills in a document. Don’t leave the payroll management or transaction tracking for the last/closing week, as that can land you in hot waters. While doing all that, ensure you have proper accounting software to help you make projections and record data efficiently. You can also conveniently integrate efficient bookkeeping software with your CRM & ERP, syncing your orders, transactions, and payments.

Always Keep Your Business & Personal Accounts Separate

Another rule of thumb is always to keep your business and personal accounts separate. Separation of business and personal accounts is necessary because it gives a professional outlook to your company and makes record keeping easy. If your business model is B2B, you might frequently have recurring clients making payments. Asking them to make payments to your account can make them quite skeptical and harm your business revenues. Mixed business and personal finances can also lead to over-taxation or tax evasion. Both can be pretty damaging to your financial standing as well as your reputation.

Prioritize Your Repayments & Debts to Avoid Soaring Interest Rates

Most businesses operate on credits and pay a minimum or no interest if they make payments on time. Alternatively, business owners also obtain investment capital from investors, sometimes on the terms of paying back with interest. If the business revenue plunges, the rising interest rates can be a big problem for business owners and even lead to bankruptcy. It is essential to prioritize your debts to avoid this situation. You must know which debts to pay first. Start with the taxes and payroll and then make full or partial repayment of the most significant amount of money owed to one creditor. You should do this because the sooner you pay, the more substantial amount, the lesser the interest rates, and the better for your business eventually.

Formulate Your Budget Conservatively & Stick to It

When formulating your budget, do so with a conservative approach. Don’t let your incoming revenue blind you to increasing your budget. A miserly approach is better than ending up broke or bankrupt in a few months as a business owner. Allocate your budget to the various departments of your business wisely, and keep the revenue contribution factor of each department in your mind. Of course, this doesn’t mean you discriminate among the employees of your departments. However, it would be best to plan your expansions, advertisement spending, and employee benefits according to your budget. A pro tip – don’t forget to add petty cash allowance to your budget.

Strategize Business Expansion on Conservative Financial Projections

Expanding your line of products or services is an excellent approach and doing so in the early phases of business also helps you penetrate a broader market. However, it would help if you did so with conservative financial projections. Often, enthusiastic entrepreneurs study market trends and dive straight into expansion plans when they see an opportunity, putting their all into expanding towards the particular option; this can be a dangerous move. While taking calculated risks is a good approach, making sure your calculations are correct and considering both scenarios is essential.

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.

Believe it or not, your company’s accounting system is probably the heart that pumps the required financials to the rest of the departments. While accounting may seem tedious to most of us, it’s essential to maintain and run a company’s unparalleled financial structure. Before the advent of computers, accounting was a much more difficult job to pull off, keeping ledgers and sheets on paper and reconciling a year’s data by literally going through every page of hundreds of registers. Thankfully, with time, accounting systems evolved. Today, we have automated and cloud-based accounting systems that avoid spending too much time on simple calculations and focus more on the actual work.

Unfortunately, many companies are still skeptical about using automated or computerized accounting systems. If you are among them, then here are a few benefits that would compel you to switch to improve your company’s overall accounting process:

Cost-Effective & Less Time Consuming

As established earlier, the traditional ways of accounting consume a lot of time while producing minimal results. Employee morale goes down, and companies suffer due to the lack of productivity and timeliness. Resolve this issue with an automated accounting system. With a computerized accounting system, you won’t have to manually record numerous transactions or calculate the balance now and then. For instance, if you send an invoice through the system and the customer pays, it will automatically add cash to the ledger, minus it from accounts receivable, and add it to the profit and loss sheet. The entire process is automated. 

Builds Perspective with Increased Financial Visibility

The second crucial thing an automated accounting software can do is give you graphs, charts, and a lot of other regularly updated data. With this data, you and your stakeholders can quickly view financial information and make decisions. In a traditional accounting setup, this is nigh impossible. Stakeholders and management would wait for months to get the final outlook of their accounts. Accounting teams would make monthly balance sheets by taking the balances from ledgers and t-accounts. With an automated system, everything is regularly and automatically updated.

Lesser Chances of Errors, Precision Guaranteed

Another major problem with traditional accounting methods is that a minor error in numbers can cause ripples in the entire financial structure. One additional zero in a transaction would make the balance as the whole go off. And, to find and rectify this error would be impossible, considering employees would have to go through hundreds of transactions. With an automated accounting system, since the calculation is done automatically and not manually by a person, the chances for errors reduce to almost zero. If there is an error, you can search for the data and rectify it. You won’t have to manually check thousands of transactions to find the error.

Third-Party Software Integration

Lastly, with an automated accounting system, you can integrate other software such as inventory management, invoicing, and the like to create an ecosystem of your company’s financial data. When you add an item to the stock, the cost paid and inventory accounts automatically update the ledgers. Similarly, when you send an invoice to a client, it is automatically updated in accounts receivables.

Should You Switch to an Automated Accounting System?

With the advancement in technology, it is becoming easier to regulate mundane tasks and prone to errors in software and applications. Accounting is one such process that requires precision, dedication, and a lot of time to give you the overall financial outlook of your company. Why do it all manually when an automated accounting software can do the job of ten employees alone? Not only this, a computerized accounting software would cost less and be more effective. Any business in today’s world that wants to grasp their accounting process should have automated accounting software to ensure no errors and high accuracy in the numbers.

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.

Contrary to popular belief, earnings management is not the same as managing the hidden business segments of a company. Instead, earnings management refers to practices the companies follow to influence their earnings reported in financial statements. In simple terms, companies use earnings management to better portray a company’s financials, payments, and positions. Also, note that earnings management is part of the accounting process, not financial management.

Why Do Companies Use Earnings Management?

Again, earnings management is a broad term for various strategies used by companies to reduce inconsistencies in their financial statements. In most cases, earnings discrepancies and inconsistencies are common in businesses. However, these factors may influence future investments and a company’s growth, which is where earnings management comes into the picture. Investors are usually on the lookout for stable options for their investments. Companies try to show seamless business operations and financials to gain the trust of their investors. Hence, the need for earnings management occurs.

What are the Different Perspectives on Earnings Management?

There are different approaches used by companies globally for earnings management. Here are some of the commonly followed practices:

Earnings Management Through Accrual Accounting

Accrual accounting records business transactions when profit or loss occurs, unlike traditional accounting, where you record transactions when cash is received or paid. With accrual accounting, a clearer picture of a company’s financial standing is visible, allowing management to decide how to mold it. While most prominent organizations worldwide have practices to ensure their financial data is not corrupted by bias, the administration can still quickly develop the data as per their liking. Since transactions are not recorded as sales and purchases but rather as profit and loss, there is always a gap between distorting information.

Expense Management

Another strategy organizations use to manage their profits is limiting their expenses. By its sound, expense management, in contrast to the revenues, is easy, but it can create long-term problems for an organization. Since such companies are usually focused on reducing their expenses to boost their earnings, the company’s growth is affected. The management is focused purely on cutting costs instead of growing profit, impeding a company’s growth. For example, limiting a company’s growth to its employees might lose loyalty. Since the growth prospect was limited, it will invest in human resources that will move to competitors’ organizations.

Moderating Accounting Principles

In most countries worldwide, there are different accounting rules for similar transactions. For instance, you can record land acquisition as a fixed asset or an expense. This flexibility allows management to adjust accounting principles as per their liking to reduce their costs on paper and show an inflated profit. In most large-scale organizations, these principles are pre-decided, and internal and external audit teams ensure no such alteration occurs. However, it is up to the management of a company to record certain transactions, giving them complete freedom over their choices.

Is Earnings Management Legal?

Generally, there is nothing illegal with earnings management. A company has the right to decide how to portray its earnings. Whether it is a small business or a large one, they can use different accounting methods and strategies to highlight the positive side of their company’s earnings. That is perfectly legal and ethical if they are not omitting information but just rephrasing it. However, with large-scale organizations that are obliged to third-party auditing, earnings management becomes a problem. Since a third-party audit might raise eyebrows on how a company boosts its profit, it tends to get the businesses in trouble. As long as the management uses earnings management within the legal parameters, there shouldn’t be a problem.

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.

A credit score is a three-digit number that can help an institution evaluate your credit history and estimate the risks of lending money or extending your credit. Credit bureaus collect all this information. Credit bureaus are credit reporting agencies that gather and research a person’s credit information and sell it to creditors for a fee so that they can decide who’s eligible to be granted a loan and who’s not.

In the US, there are three major credit bureaus. They assign you a specific credit score based on your credit history. These credit scores are critical to predict if you’ll be getting the loan or not. Credit bureaus don’t decide to grant you a loan; they only collect and analyze your information. The decision is in the hands of the lending organization.

Your credit score is calculated based on your payment history, length of credit history, recently opened bank accounts, types of credit used, and the amount of credit you owe. Once you form your credit score, it becomes the deciding factor in getting a loan and the interest rate. Your credit score can affect your insurance rates, a landlord’s renting, and prospective employer’s hiring decisions. A problem with any of the issues mentioned above will lower your score.

You can also increase your credit score; it’s not a fast process, but it can gradually lead to progress! There are no quick fixes, but you have to manage them with responsibility over time, like paying bills on time can reduce your debt load. Here are the three ways to increase your credit score:

Prepare a credit file

You must have some active credit accounts or open some credit accounts that will directly report to the major credit bureaus because most credit lenders, banks, and financial institutions report to these significant bureaus. If your credit score is low, this will have a good impression as a borrower; you can start with secured cards or credit builder loans. Also, if you plan on enhancing your already good score, you can go for rewards credit card that doesn’t have an annual fee. Being added as an authorized user on someone else’s credit card can also be helpful, only if they use their card responsibly.

Never miss a payment

Your payment history is one of the most crucial aspects of evaluating your credit scores. Your payment history includes information on selected accounts, such as retail accounts, loan installments, mortgages, etc., which may go for certain public records as well, such as bankruptcies and foreclosures, how many past-due items are on file, and how long.

A long history of on-time payments will help you accomplish the perfect credit score. To achieve this, ensure you don’t miss any loan or credit card payments by more than 29 days. Bills more than 30 days late go to the credit bureaus, which can lower your credit score.

As long as you are careful enough not to overdraft your bank account, you can also set up an automatic payment method for the minimum amount due or subscribe to reminders via e-mail or text. I  will help you avoid missing a payment. If you have trouble paying for a bill, discuss it immediately with your credit card issuer for the available options.

Don’t resort to just one type of credit

A credit score pulls from the number of new credits, including the number of new accounts also the percentage of new accounts versus the total number of accounts. The number of recent credit inquiries except for promotional questions is also considered—new credit accounts and their credit inquiries. The remaining part of your credit score comprises the type of credit you use, such as credit cards, mortgages, auto loans, etc. For example, having only one kind of credit, just credit cards, can negatively influence your credit score. Us ng a variety of credit types can improve your score because it makes you an experienced borrower.

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.

Systematic risk means that the gains or losses arising from potential risks will occur more likely simultaneously for the entire portfolio and not for a particular type of asset. Losses due to general economic conditions are a systematic risk because they simultaneously affect all market companies. For example, when monetary conditions become tighter, interest rates for all companies rise. Therefore, if an insurance company insures firms against the risk of rising interest rates, it will not be able to diversify its portfolio by underwriting a large number of insureds since all firms will incur losses at the same time. Therefore, it is not possible to reduce systematic risk through portfolio diversification.

Unsystematic risk is sometimes also called single company risk. This means that profits or losses in the portfolio of risk objects occur randomly. For example, building fires occur randomly, so the risk portfolio contains non-systematic risks. An insurance company can diversify the risk associated with building fires by insuring many buildings located in various locations. With a sufficient number of potential fire risk objects, an insurance company can predict its losses for any period with a high degree of accuracy and, therefore, determine an adequate size of the premiums.

In general, the risk is understood as the possibility of some adverse event, which entails various kinds of losses (for example, physical injury, loss of property, income below the expected level, etc.). The existence of risk is associated with the inability to predict the future with 100% accuracy. Based on this, it is necessary to single out the main property of Risk: Risk occurs only in the future and is inextricably linked with forecasting, planning, and decision-making in general. Following the preceding, it is also worth noting that the categories of risk and uncertainty are closely related and are often used as synonyms. However, there are specific differences between these concepts.

First, the risk takes place only in those cases when a decision is necessary (if this is not the case, there is no point in taking risks). In other words, the need to make decisions under uncertain conditions gives rise to risk; in the absence of such a need, there is no risk. Second, the risk is subjective, while uncertainty is objective. For example, the objective lack of reliable information about the potential volume of demand for manufactured products leads to a spectrum of risks for project participants. For example, the risk generated by uncertainty due to the lack of marketing research for an investment project turns into credit risk for the investor (the bank financing this investment project), and in case of non-repayment of the loan into the risk of loss of liquidity and further into the risk of bankruptcy. For the recipient, this risk is transformed into the risk of unforeseen fluctuations in market conditions. For each participant in the investment project, the manifestation of risk is individual, both in qualitative and quantitative terms.

Pure And Speculative Risks

Pure risks are something that we cannot influence by a management decision. They are relatively permanent. Mathematical statistics and probability theory methods are widely used for their analysis and evaluation since their manifestation, as a rule, is stable over time or differs in a specific pattern. They imply the possibility of damage or, at best, “break-even” situations. The outcome can either be unfavorable or leave us in the same position before the event happens. There is no element of gain in any situation. Accidents, fire, theft, or injury may or may not occur. 

Speculative Risks, unlike pure ones, are entirely determined by the management’s decision. They have a chance to win. For example, they are buying shares. Investing can lead to losses, a “break-even” situation. However, this is done because of the prospect of making a profit. These are the risks that we take to achieve some desired result. Pure risks can be insured while speculative ones cannot.

Risk Classification

The CAPM (Capital Asset Pricing Model) divides the risk into systematic and non-systematic. Systematic risk is associated with changes in the situation of the securities market under the influence of macroeconomic and political factors (increase or decrease in the refinancing rate, inflation, changes in government policy, etc.). All companies in each country are affected by these factors.

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.

One of the answers to the above problems is the so-called anti-budget. This method consists of the fact that you do not plan expenses for a month but, on the contrary, analyze how the previous month went, evaluate how much you managed to achieve your goals, and think about whether you need to correct something in your budget or not. Naturally, you will have to raise your bills for the past month, but it will still be easier to calculate how much you have spent than to predict how much you will spend.

Too Much Work

To make a budget, you need to plan it, and many people do not like to look into the future and predict all the expenses for the next month. These items are food, water, electricity, gas, rent, car expenses, loan repayments, membership dues, periodical subscriptions, etc. However, while most people remember these significant expenses, they forget about auto insurance payments, Christmas gifts, car repairs, dates, birthdays, school trips, and other expenses that are not monthly. Moreover, they immediately give up if they go beyond the standard budget.

The Budget Is Too Restrictive

Sticking to a budget is often like going on a diet to lose weight. You feel that by limiting spending, you are depriving yourself of something. Furthermore, cutting spending in one place allows you to increase it elsewhere eludes you. The budget will enable you to achieve your goals, but at the same time, you may feel disadvantaged – for example, if you want to sit in a restaurant, but the amount you have allocated for dining outside the home has already been used up.

I Do not Want to Swear

Married couples, drawing up a joint budget, sometimes quarrel over it. Furthermore, if spouses want to avoid confrontations, they are unlikely to want to participate in discussions about the budget. Quarrels over money are the leading cause of divorce; therefore, to avoid trouble, spouses do not get involved in budgeting. However, burying one’s head in the sand is hardly a good policy when the financial issue is pressing hard.

Data Overload

If you have many bank accounts and accounts, you have paperwork. This can take you long hours, especially if you do this for the first time. As a rule, budgets are calculated at the micro-level; every cent is considered, but not all of us have time for this.

Steps To Building an Anti-Budget:

1. Select four to five spending items, including essential goals like savings.
2. At the end of the month, calculate the percentage of how much you spent on each of these articles and estimate whether you managed to achieve your goals. Think about which of the articles you took too much or too little time and whether any adjustments are needed.
3. Repeat all of this at the end of next month. When you reach your goals, set yourself more complex goals.

For example, your family decided that 15% of the budget would go to savings on New Year’s Eve. At the end of January, the family reviews all expenses and discovers that 75% of the money went to essential expenses, 25% to restaurants, 15% to entertainment, and 2% to savings. Since the target was achieved only by 3%, a decision was made to cut other budget items. Thus, there are no clear limits on expenses, as in the traditional budget, but everyone understands that they need to spend less on restaurants and entertainment. Next month, you can review the results again, see how the money was spent this time, and make the necessary adjustments.

Conclusion

An anti-budget should not be a substitute for a regular budget. If you are constantly struggling to make ends meet, you should draw up a regular financial plan to the nearest cent because the anti-budget gives you too much freedom. You need micro-level knowledge to make better decisions. However, as soon as the financial problems are in the past, you can go from the macro-level to the anti-budget. In the author’s family of this article, both methods are used. A thorough study of finance at the micro-level allows the author to reduce costs for those items he defines at the macro level, and the general situation at this level is visible.

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.

It would be best to be prepared for a downgrade when moving abroad: management positions are rarely offered immediately. In my case, to apply for a position of a similar level to Moscow, you will need at least a local MBA. However, this was one of the motivating factors, like I have been thinking about getting a diploma of this level in the EU for a long time. The salary of two middle managers allowed our family to live comfortably within the Moscow Ring Road. In the Netherlands, our total income remained about the same. However, taxes and other obligatory payments began to amount to 51%. At first glance, salaries seem slightly higher, but the progressive taxation scale minimizes the difference.

Save Three Times Less Than in Moscow

The most significant increases were utility bills and taxes. If we talk about stores above the economy class, food prices are identical to Moscow’s. The average check in a cafe is 1.8 times more expensive, and a movie ticket is 2.8 times more expensive. Gasoline is 3.1 times more expensive, plus taxes on on-road use and carbon emissions. The fines are many times higher. For example, they are running red-light costs around one hundred dollars. In general, monthly spending on a car motivates you to follow the example of the Dutch and switch to a bicycle. In general, the system of punishments here is built very clearly: they threw garbage into the wrong container, delayed the tax payment by one day, did not take out the Christmas tree on time – wait for a letter with a bill, the amount of which will strengthen memory and increase attentiveness.

Living In the Netherlands

Service in other areas in the Netherlands is well developed. However, the quality is unstable and very dependent on the employee’s competence, even in international networks with a single work format. We have never seen several incorrectly collected orders at McDonald’s anywhere else. If you notice a mistake in time, they will fix everything with a smile and apologies. The double point is medicine. Without a doctor’s prescription, it is impossible to take tests, buy an antibiotic, or even a syringe. All adult residents of the Netherlands, without exception, must pay a monthly health insurance premium – about two hundred dollars with basic coverage. At the same time, if a severe illness is detected, the insurance company will pay for the treatment, regardless of the cost. For children, medicine is free, provided that the child is included in the insurance policy of one of the parents.

What Migrants Need to Know

For more than 15 years, this non-governmental organization has been helping newly arrived Ukrainians in Poland protect their interests, integrate into local society, and at the same time preserve their national identity. From the guide, everyone interested will be able to get information on how to apply for a work visa properly and a permit for temporary or long-term stay in the territory of these countries, find out the list and samples of documents, the estimated cost of services for their execution (if such services are not free) and much more. Also, it contains answers to migrants’ questions when finding a job. A broad base of contacts has also been collected, where you can contact if necessary – from local official institutions to embassies and consular offices of Ukraine, from Ukrainian communities abroad to organizations that protect the rights of foreign workers.

About Finland

The number of jobs in Finland is constantly increasing – the country is rapidly recovering from the 2010 crisis. The unemployment rate here is about 7% to 10%, and the lack of qualified personnel and the aging population force local employers to actively look for specialists in neighboring countries. Finland does not create the feeling of a foreign country. Many Russians live here (second only to Estonians), and the popularity of the Russian language is so high that the government is already thinking about introducing it for study at school as a second foreign language. On the positive side, the locals are becoming increasingly sympathetic to immigrants yearly. The country’s population is growing mainly due to visitors: citizens staying in Finland from other states are twice as many as those who live here.

However, is it easy to move here and find a decent job? Many agents will tell you about the nuances and features of employment in the country of Suomi. If you are a doctor, programmer, engineer, chemist, teacher, or economist, you can safely count on being in demand in Finland. You should not discount this country if you are not afraid of physical labor and are ready to work in a factory, farm, auto repair shop, or construction site. If you try hard, everyone can find a job here.

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.

While airlines face fierce competition, the industry’s players are not fighting a worldwide economic war. Not all airlines compete in the same markets, after all. Traditional and low-cost airlines, for example, compete only in the short- and medium-haul markets. Traditional corporations and those from the Persian Gulf, on the other hand, exclusively compete in long-haul markets. Finally, we occasionally find ourselves on routes with only one or two firms on many regional lines. Finally, rather than a global economic battle, I believe we are fighting a war on multiple fronts.

This fierce competition takes the form of a price war in the bulk of these markets. Competitive aggressiveness globally has ramifications on affluent areas, such as traffic on the northern transatlantic line. Companies compete on their ability to innovate to set themselves apart from the competition. In this scenario, the competition isn’t about the price because the focus is on the quality of the things on board, with the goal of enticing people looking for something new.

In what theaters of confrontation does this competition manifest itself?

Players in the aviation industry compete for limited and mostly intangible resources. As a result, an airline’s challenge is obtaining pilots or planes and acquiring the ability to fly wherever it desires.

On the one hand, airlines encounter issues with traffic rights for foreign flights. These niches have gradually evolved into a bargaining chip and a regulator of competition distortions. Consider the Gulf countries, which discovered that their respective growth and expansion in terms of flights were constrained by agreements inked with the European Union or other parts of the world. One of the critical obstacles continues to be the availability of airport slots: The problem is securing several spaces in airports when many of them are already overcrowded. This is frequently the case at Orly Airport, which has limited room and runs on a fixed schedule. When a player in the sector or a regulator wishes to censure or limit a company’s dominance, the first reaction is to ask it to give up a slot in one of Europe’s leading airports. The European Union decided that Air France would grant airport slots to competitors like Vueling in exchange for its subsidies following the Covid-19 issue.

Why is long-haul business class the lifeblood of airlines? What are the issues and the strategies adopted to attract passengers?

First and foremost, we must distinguish between the two types of people classified as “passengers.” There are two types of passengers: “leisure” passengers who travel for personal purposes or tourism, and “business” passengers who go for professional reasons. There isn’t a perfect balance between economy class and “leisure” travelers or between business class and “business” travelers. Passengers in business class can travel for personal reasons, whereas passengers in economy class can travel for business purposes. In both circumstances, business and business class travelers are considered high-contribution passengers. In other words, they only account for 20 to 25 percent of the seats in the theater, but they account for 60% to 75% of the earnings.

Furthermore, the longer the route, the more significant their contribution: passengers in business class (or at the front of the plane) contribute more to the income of a long-haul flight than passengers in medium or short-haul flights. When the price of a ticket in business class rises dramatically in proportion to the number of kilometers traveled, the cost of a key in economy class increases more slowly. In other words, economy class passengers pay less than the actual price: business class subsidizes economy class.

Airlines are exploring tactics to capture this clientele and balance costs based on this finding. Thanks to loyalty programs, they can keep customers on board. The Covid-19 problem, on the other hand, may have transformed the situation: lines are progressively reopening, and “leisure” travel is restarting. However, professional aviation traffic is still battling to restore to pre-crisis levels. This is a severe source of worry because traditional airlines’ economic models are in jeopardy unless this industry recovers.

Strategic efforts aren’t centered on price reduction because “business” clients aren’t as price-sensitive as “consumer” consumers. On the other hand, the quality of onboard services (seats, food, and entertainment) is essential. Companies increasingly rely on loyalty programs to provide much-appreciated statutory benefits such as lounge access and priority boarding. Customers who have been lured by a program and have accumulated loyalty points no longer look at competitors for fear of losing the benefits they have gained.

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 popularity of binary options in the foreign exchange market predetermined the emergence of many new binary brokers specializing specifically in fixed profit options. As of 2022, the global market has several hundred binary brokers. Each of them offers its conditions and trading instruments. Each trading platform has different functionality, commissions, and other individual features. A wide variety of parameters leads to the fact that increasingly often, the question arises: how to choose the best binary broker for a beginner? Our article is the answer to this question. By creating it, we set ourselves the goal of helping beginners choose the best binary options broker, save you time and protect you from scammers.

A Brief History of Binary Options

Binary options are not just new. It has been for many years, and in the beginning, only the extremely wealthy and large financial institutions had access to it and its potentially lucrative earnings. In 2010, the US SEC or the Securities and Exchange Commission allowed binary options to be traded through an exchange. Since technology and the Internet have developed rapidly since then, binary options have become available worldwide. People from all strolls of life can trade and make big profits. Not surprisingly, the demand for these binary or digital options is steadily increasing, and these digital assets have become must-have trading options for experienced traders in cyberspace.

What Is a Binary Option?

This is another financial alternative that a trader can choose from, with two compensation options: a certain amount of money or nothing at all. It is called so because there is no other calculation other than the two options provided. The introductory statement of a binary option is the yes or no proposition: can the underlying asset be beyond or below a specific price at a particular time? If so, you can make significant profits by trading its simple financial instruments. Binary options are derivatives that you can trade on any market or instrument. Its appeal lies in its straightforwardness. You will know exactly how much you can win or lose even before you start trading. You do not need complex math equations or a calculator to trade them. You can choose from many derivatives. You can trade commodities such as aluminum and crude oil. You can choose stock prices like Facebook and Amazon.

We evaluate the fees of binary brokers, the set of trading tools they offer, the responsiveness and quality of the technical support service, and several other factors. To date, a comprehensive analysis of the leading binary brokers allows us to identify the following leaders:

1. IQ Option

The company was founded in 2014 and is recognized by many experts as the best binary broker. The activity is regulated by the Securities and Exchange Commission of the Republic of Cyprus (CySEC), a member of the CROFR. The broker has its trading terminal. Fifty-one options are presented in Binary, Digital, and FX variants. A wide range of additional investment solutions and analytical tools are built into the trading terminal.

2. Quotex.io

Quotes describe itself as a next-level binary options trading platform. This is one of the newest online brokerage platforms launched in 2018. The development team consists of experts in their respective fields with many years of experience, and some of them spend more than ten years honing their skills. The team has many years of experience, which has enabled them to create this superb binary options trading platform. Excellent Ltd, a company based in Seychelles, owns the ownership of Quotes. It is regulated by the IFMRRC or the Financial Markets Regulatory Center and became a certified, licensed broker in 2019. However, the company is not registered with the Seychelles Monetary Authority, which regulates all foreign exchange brokerage activities. Since the IFMRRC is a stand-alone issuer and not a tax authority, it does not have regulatory authority over the company. In other words, Quotes are not regulated by an official financial authority, which means that your capital may be at risk. Quotes is a modern binary options trading platform for the forward-thinking and tech-savvy. Its main advantage is its excellent quality in all aspects of digital trading, including innovative technology and attractive features for beginners and experienced traders. The main goal of this brokerage platform is to combine powerful and sophisticated trading tools with simplified digital options products. Experts have developed the best economic management functionality, including a high-speed computer interface and fast quote updates. This allows users to streamline the online trading process.

3. Binomo

Binomo is one of the most creative binary options brokers on the market. Known for going the extra mile to please investors, they have created a customer-focused image of the company. As a result, you can trust them with your money with complete confidence.

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 stock market is a market for securities: stocks, bonds, and investment shares. It is easiest to conclude transactions to purchase and sell such securities on a specially organized trading platform – the stock exchange. It makes it possible to buy securities and sell them at a fair, that is, market price reliably and quickly. There are professional participants on the stock exchange – intermediaries between buyers and sellers. These are banks, brokers, and investment companies. It is intermediaries that provide private investors with access to the exchange market. The Federal Law regulates all relations between participants and the mechanisms of operation of the exchange.

You can also buy and sell specific securities outside the exchange; this way of trading is called over the counter. However, it is not always feasible to do without intermediaries: outside the stock exchange, paper is usually not sold from hand to hand – those who issue it to those who want to invest. The organizers of transactions in the OTC market are the same brokers, banks, etc. Secondly, over-the-counter trading is associated with significant risks: in this case, operations are not controlled by anyone. Furthermore, you are not protected from scammers and are at considerable risk with your money. Therefore, if you want to invest money in securities, it is worth doing it through the stock exchange.

Why And How Are Securities Issued?

An issuer is someone who issues securities. The issuer can be a company, a state, a separate region, and even a city. Securities are issued to raise money. Before issuing, the issuer evaluates how much money it needs and in what form. The company can “borrow” money from future consumers of securities, swearing them to pay interest in the end – then it issues bonds, in fact, IOUs. Alternatively, you can get money by offering buyers to become co-owners of the company – to divide its capital into micro-shares and sell them. These will be shares. Then the company determines the parameters of securities: their number, face value, that is, the cost of one security, and its validity period. After that, the state registration of the issue takes place: an entry is made about this paper in a special register.

For example, a company wants to attract additional investment and issues shares. By purchasing them, you become the owner of a share in the company and get the right to a part of its profit, distributed among all shareholders (the so-called dividends), and the right to vote at the shareholders’ meeting. Alternatively, a company or state (region, city) issues bonds by borrowing some money from the market and giving it back with interest for use after a while.

How To Become an Investor?

An investor is someone who funds their money to make a profit.

An investor buys and sells securities on the stock exchange. However, you cannot buy them directly from the issuer or sell them to another investor. To conclude transactions, an investor needs to open a brokerage account. This is a particular account with which you can buy and sell securities and see the entire history of transactions. Your official representative on the exchange – a broker will work with such an account.

Who Is a Broker and How to Collaborate with Him?

A broker is an intermediary between an investor and an issuer, a professional market participant who makes transactions with securities for an investor. Most often, the functions of intermediaries are performed by private brokerage companies and banks. To work, they must have a special license issued by the Bank. You can check if your chosen broker has a license in the Directory of Financial Market Participants. You conclude a service agreement with a broker and open a brokerage account. The broker performs operations on your behalf. The money for the purchase and the broker’s commission is deducted from the brokerage account – the fee for helping you complete the operation on the exchange. In addition to the transactions that the broker will make, he calculates and withholds your income tax – usually 14.1%.

Who Is a Trustee and How to Collaborate with Him?

Trustee – an organization you trust to manage a package of securities according to a pre-agreed and approved strategy. You draw up a trust management agreement and discuss the strategy of behavior on the stock exchange in advance. For example, you want your investment portfolio to consist only of bonds of the largest and most dependable companies with stable income indicators – with an interest rate of at least 4.2%. You define these conditions, and based on them, the manager will decide when and what securities to buy and sell. The advantage of trust management is that you do not need to monitor the stock exchange situation constantly; the trust manager does this for you.

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.