On Entrepeneur.com, the website about entrepreneurship, we recently picked up an exciting column that looks at the secrets of successful entrepreneurship.

The Secret to a Successful Business

Nope, it’s not about innovative software, a particular way of managing, or the willingness to innovate is the secret to success. However, successful entrepreneurship has everything to do with the right mindset.

When faced with a task, a problem, or an unexpected situation, some people ask themselves: can I do this? And some people wonder: how am I going to tackle this? And therein lies the difference. The mindset of successful entrepreneurs leaves no room for doubts. They take the bull by the horns and do not shy away from any challenge.

Create the Mentality of a Successful Entrepreneur Yourself

So, successful entrepreneurs have a certain mindset that leaves no room for self-doubt. The question is: can you also create such a mindset in yourself? The answer: yes, you can train yourself in this!

The next time you are faced with a challenge and feel insecure about your abilities, ask yourself: how can I handle this? Be done with these kinds of thoughts! You don’t limit yourself that way when you question whether you’re the right person for this challenge.

Fall in Love with the Problem

So be aware that there are different ways of looking at a problem. Only by thinking in concrete solutions (and not in terms of one’s limitations and uncertainties) can a company become a success.

Bottom-line here is that if you dream of being a successful entrepreneur, you shouldn’t put too many limits on yourself. Change your mindset from a ‘ can I do this ‘ to a ‘ how am I going to do this ‘ mindset, and you will see results much faster. Good luck!

The Mentality of Successful Entrepreneurs

Entrepreneurs turn out to be doers. Of course, a plan and a goal are essential, but whoever continues to perfect a plan to the last points and commas is not an entrepreneur in the end. That’s a planner.

Don’t delay. Why should you do tomorrow what you can do today? To perform tasks as immediately as possible or outsource them? Anything that disappears from your to-do list gives you air and the time and freedom to focus on other things.

Learn from mistakes. It will not all go smoothly. Don’t blame yourself, and don’t blame anyone else. Just guess what you can learn from it and how you can do it better the second time around. Maybe it even leads to new ideas and insights?

Dare to ask. You may think you can do everything on your own, but no one is an all-knower. The Internet and Google often offer a solution and dare to ask experts, relations, friends, and family for help and advice. It also quickly leads to new ideas and insights.

Always stay businesslike. Not every customer is equally friendly, but every customer is a customer. So, they ‘nag,’ and they are never ‘difficult.’ But maybe you can make them pay more as the demands become unreasonable or pile up?

Be good and tell it. Modesty is suitable for a person but not for the entrepreneur. Tell the world what you have achieved and accomplished as an entrepreneur because this proves that you are good at doing business. Make what you have achieved as concrete as possible.

Grab opportunities. Have you been asked to give a presentation? Contribute to the ideas of another entrepreneur? When attempting to invest in a startup, one thing leads to another and saying ‘no’ leads to nothing. So, think carefully before refusing something and seize opportunities presented to you.

Step out of your comfort zone. Research shows that daring to take risks is the most critical success factor for entrepreneurship. So don’t stay in your safe comfort zone, but try, experiment, test, and test. Dare to do new things.

Stay flexible. Are things going differently than you thought? Then, you must move along and be flexible. Be challenged by sparring with entrepreneurs or other professionals in your area. They often ask critical questions that allow you to adjust your working method or strategy.

Do Business Efficiently

In addition to the right mentality, knowledge, and characteristics, something else is essential: working efficiently. Just think, the lower your costs, the less turnover you need to turn to make a profit. Staff costs (and your salary) are often the highest cost items. The more productive you and any employees are, the more you get out of the hours and the less they cost. Entrepreneurs who do not budget their time tightly and do not understand the importance of (handling) time efficiently will not make it. So, value working hours – and get the most out of them.

Know Your Customer

We would almost forget, but you work for your customers in the end. Successful entrepreneurs know their customers through and through. They know how to differentiate themselves from their competitors and serve their customers appropriately. Not only with the right products but also with the right customer conditions, distribution channels, and customer service. Do their customers prefer to buy in an online store, and do they find a delivery time of one week acceptable? Then they get that. Do they want to be delivered immediately? Also, fine. So, keep the focus on what you do and do those things well (or excellently). Of course, you can always contact Graydon. You can find information about customers and potential prospects and how you can use big data for your marketing activities, for example, to get to know your customers 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.

It ensures consistent behavior and actions of employees and recognition among customers. Again, a culture introduction and embedding program can significantly contribute to this.

Many organizations invest in recruitment and selection to bring in the best people but pay little or no attention to the integration and socialization of employees. Frequently shaking hands, going around the shop, and handing over an information package are often good introductions. A survey of 1481 companies showed that a third of these companies did not have any form of induction policy, formal or informal.

What exactly is organizational culture?

An organizational culture consists of the shared values and norms within an organization. Conscious and unconscious assumptions, rituals, and beliefs thus determine how people should behave. Mutual interaction creates a social process in which desirable behavior is maintained, and undesirable behavior is punished. In this way, the character of an organization is gradually formed. Meaning arises for the so-called ‘that’s just how it goes here.

Capturing culture in core values

An excellent way to capture an organization’s culture is through the core values: the unique values that characterize a specific organization. Organizations that more often invest time in understanding, articulating, and propagating these core values have a well-lived and robust corporate culture. Their values radiate outwardly and ensure recognizability among customers. So, no marketing slogans like ‘customer-oriented’ or ‘reliable,’ but ask yourself as an organization what you stand for and, what you believe in, what the organization is essential.

Stay ahead of the competition

A healthy and productive culture is increasingly seen as an essential precondition for staying ahead of the competition. You can copy products, services, and processes from the competition; an organizational culture that reflects core values is not. To promote recognition among customers and the involvement and performance of employees, employees must live the culture and associated core values. But how do you handle this? Simple: with a culture introduction and anchoring program.

Social glue and involvement

One of the effects of such a program is that it ensures connection and involvement. Shared norms, values, and behavior among employees form a social glue that binds them together. They are part of a team that works together for the same goal. When they have a positive image of the organization and feel part of it (social glue), employees are often more involved in the work. A global survey of 142 organizations shows that companies with high employee engagement are more profitable and productive, have higher customer satisfaction, and have lower absenteeism and turnover.

The culture program ensures consistency

When workers know what the organization stands for, they can also better fulfill their expectations. For example, at Zappos, where happy customers are the most important thing, the duration of phone calls is not measured, although this is very common in in-service departments. Customer satisfaction after a conversation, on the other hand, is measured. Therefore, a culture program mainly contributes to the consistent translation of culture into the structure of the organization. The result is that the entire organization becomes more consistent in what they think is important and what they do.

How do you change company culture?

Introducing a new corporate culture is very valuable but not prominent. The visible aspects, such as the mission or processes, are easier to adjust than the invisible aspects. After all, patterns and behavior are difficult to break. Yet it is certainly possible.

Involve management and staff

To begin with, consider what needs to change. First and foremost, provide management support. When the highest levels don’t believe in it, nothing changes. Ensure the values are carried out because that’s how the implementation works best. Indeed, today it is the employees who shape the company culture. As an employer, try to ensure that the critical people in your organization recognize themselves and feel at home in your organizational culture.

Set a good example

‘Lead by example is the message: you start yourself and show how you expect all employees to apply the new values. The communication of the values is also essential: internally to the team and externally on your website, in a vacancy, etc. Living your core values is necessary. Otherwise, you will lose your credibility. Just think of a bank where ethics is of paramount importance but which subsequently comes up with scandals in the press.

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.

At the dawn of retail lending in the US, in the mid-2000s, almost anyone could get a loan. Today, credit history is the most critical factor in deciding whether to approve or reject a loan application. The banking sector has faced several problems, due to which it suffered losses and managed to accumulate credit history data that allow identifying bonafide and unscrupulous borrowers.

What is a credit score?

A Personal Credit Rating (PCR) – either a score or an indicator of financial health – is based on all the records of your credit history. In other words, it explains the applicant’s chances of obtaining a loan or mortgage from a bank. According to him, financial institutions judge the good faith of the borrower. Today, a standardized system for evaluating borrowers’ “credit quality” has been developed. A credit rating is a tool for self-assessment of one’s ability to obtain credit products. Receiving such an analysis, a person not only immediately understands how “quality” his credit history is but also what specific conditions on bank loans he can count on.

How is a credit score calculated?

The credit rating is formed based on:

• Conscientiousness in fulfilling obligations to creditors: Timely repayment of loans
• Loan diversification: The use of different types of loans, even multiple ones, has a positive effect on the rating, while an excessive number of loans of the same type is negative.
• Length of credit history: This indicator reflects the borrower’s experience in lending.

Since the credit history, you updated the period: Fresh entries have a more significant impact on RCC than old ones.

Do not forget that not only applicants with a low scoring rating fall under the suspicion of banks, but also those who have no rating at all. These are people who have never taken out a loan. That is why it is difficult for young people aged 22 to 25 to get a loan. The optimal age for opening a credit history is about 27 to 35. It is recommended to start by opening a credit card for a small amount and return the funds on time to form a portrait of a conscientious client.

Why do you need a credit score?

Different experts in determining credit rating use their rating scale. But in general, the logic is simple: the higher the value of a personal credit rating, the higher the probability of getting approval from the bank. A credit score does more than make it easier to get loans. It has other benefits as well like:

Tracking personal Financial Health

The rating helps to exercise self-control over the number and frequency of loans. A low rate indicates a high level of debt, leading to personal default. For example, if it takes more than half of the salary to pay off a loan, financial health is at risk.

Detection of fraudsters

The credit rating reflects all activities related to obtaining loans. Thus, it is likely to identify fraudsters who have issued a loan for another person.

Increasing Financial Literacy

The score helps you evaluate financial behavior and develop healthy financial habits. For example, if a borrower notices that his rating has gone down because he took out ten loans in the last year, this will be an occasion to reconsider consumption and personal spending.

How to find out your credit score?

The rating itself is formed based on the borrower’s credit history. It considers many elements – for example, the number of open and closed loans and the total debt burden. It is important how a person has serviced or is servicing loans, what kind of loans they were, and what amounts and terms. But the most important thing is the existence or lack of delays. A specific score is formed—the more elevated this score, the lower the borrower’s credit chance level. Based on the level of a particular credit rating, banks choose whether to give a loan or not. For the borrower himself, this is a chance to look at himself through the eyes of the bank and evaluate his possibilities of obtaining a mortgage. The borrower understands how good his credit history is and what specific conditions on bank loans he can count on.

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.

Embrace Change: Cultivating a Positive Attitude at Work

A positive attitude towards change means viewing workplace transitions as opportunities for growth and improvement rather than disruptions to avoid. This mindset transforms how you experience organizational shifts, technological updates, and evolving job responsibilities, turning potential stressors into catalysts for professional development.

Over my 20 years leading Complete Controller, I’ve guided hundreds of businesses through major transitions—from digital transformations to complete restructuring. The pattern is clear: teams with positive attitudes toward change consistently outperform those stuck in resistance. Research backs this up—companies with highly engaged employees who embrace change see 23% higher profitability and 17% greater productivity. In this guide, I’ll share the specific strategies that help professionals not just survive change but also leverage it for career advancement and personal growth.

What does having a positive attitude towards change mean?

• A positive attitude towards change is choosing to view transitions as growth opportunities, not threats
• It requires developing resilience to handle uncertainty and setbacks constructively
• This mindset involves staying curious about new processes instead of being defensive about old ones
• It means communicating openly about concerns while focusing on solutions
• The outcome is reduced stress, stronger relationships, and accelerated career growth

Understanding Why We Resist Change

The human brain treats change as a potential threat, triggering stress responses that cloud judgment and spark resistance. Research shows 37% of employees actively resist organizational change, with fear of the unknown ranking as the third biggest barrier. This biological response served our ancestors facing physical dangers, but in modern workplaces, it creates unnecessary obstacles to progress.

Your personal change triggers might include disrupted routines, concerns about competence, or uncertainty about job security. Some people struggle when reporting structures shift, while others panic about learning new technologies. Identifying your specific triggers allows you to address them directly rather than letting vague anxiety derail your performance.

Cognitive restructuring transforms negative thoughts about change into productive perspectives. Instead of thinking “this new system will slow me down,” try “mastering this system will make me more valuable.” This mental shift takes practice but becomes automatic over time, replacing anxiety with curiosity and engagement.

Building Resilience for Workplace Transitions

Resilience—bouncing back from setbacks while maintaining performance—forms the foundation of a positive change mindset. Unlike personality traits you’re born with, resilience develops through specific practices anyone can master.

Emotional intelligence plays a crucial role during transitions. Recognizing when stress affects your decision-making helps you pause and recalibrate. When colleagues express frustration about changes, responding with empathy while maintaining your positive perspective creates psychological safety for the entire team.

Practical stress management strategies

Immediate stress relief comes from simple techniques you can use anywhere:

• Take three deep breaths before responding to change announcements
• Step away for a five-minute walk when feeling overwhelmed
• Practice the 5-4-3-2-1 grounding technique to stay present
• Schedule regular breaks to process new information

Long-term wellness habits that support change resilience include:

• Maintaining consistent sleep schedules despite workplace upheaval
• Exercising regularly to release tension and boost mood
• Building strong social connections for emotional support
• Eating nutritious meals to fuel your brain and body

Teams with positive outlooks are 30% more likely to produce innovative solutions during transitions. This creativity emerges when stress levels drop and curiosity increases, allowing fresh perspectives on old problems.

Daily Strategies for Embracing Change

Developing a positive change attitude requires concrete daily actions that reinforce new thinking patterns. Start each morning by identifying one benefit of current workplace changes. This simple practice trains your brain to seek opportunities rather than problems.

Create a personal change action plan by breaking large transitions into manageable steps. If your company is implementing new software, set weekly goals for features to master. Document your progress and celebrate small wins—like successfully running your first report in the new system.

Time management becomes critical during transitions when you’re balancing existing responsibilities with learning curves. Use the Eisenhower Matrix to sort tasks by urgency and importance. Block time specifically for change-related learning, treating it as non-negotiable professional development.

Building your change support network

Strong professional relationships provide essential support during transitions. Identify colleagues who maintain positive attitudes and learn from their approaches. Join or create informal groups where team members share change experiences and strategies.

Practice active listening when others express change concerns. Acknowledge their feelings while gently redirecting conversations toward solutions. Your consistent positivity influences others, creating upward spirals of engagement across your team.

Leading Change from Any Position

You don’t need a management title to influence how your team experiences change. Microsoft’s transformation under Satya Nadella demonstrates this principle perfectly. The shift from a “know-it-all” to “learn-it-all” culture started with individual employees embracing growth mindsets, eventually transforming the entire organization.

Model positive behaviors by volunteering for change-related projects and asking constructive questions during team meetings. When you approach new initiatives with genuine curiosity rather than skepticism, colleagues notice and often follow suit.

Collaborative problem-solving during transitions builds team cohesion. Share knowledge freely, build on others’ ideas, and focus discussions on solutions rather than complaints. Celebrate learning moments, not just final outcomes, and create environments where appropriate risk-taking feels safe.

Overcoming Common Change Obstacles

Even with strong intentions, predictable challenges can derail your positive attitude. Fear about job security affects even high performers during organizational shifts. Address these concerns by focusing on skill development aligned with your company’s future direction. Document contributions to change initiatives—employees who embrace transformation often see their organizational value increase.

Information overload frequently accompanies major changes. Create systems for organizing change-related communications, such as dedicated email folders and regular review sessions. Focus first on information directly affecting your immediate responsibilities, gradually expanding your understanding as you gain comfort.

Perfectionism becomes particularly problematic during transitions when mistakes are inevitable. Reframe errors as learning investments rather than competence failures. Set realistic expectations for your performance, recognizing that temporary efficiency drops are normal and expected during adaptation periods.

Measurable Benefits of Change Positivity

Maintaining a positive attitude during workplace changes delivers concrete, measurable benefits. Performance improvements are substantial—positive employees demonstrate 31% higher productivity and generate better business outcomes across all metrics.

Career advancement accelerates for change-embracers. Organizations increasingly value adaptability, often selecting positive change agents for leadership roles and special projects. Your willingness to learn and grow during transitions marks you as someone worth investing in for the future.

Workplace relationships strengthen when you approach changes constructively. Your positive attitude creates psychological safety that encourages innovation and mutual support. These improved relationships benefit current projects while building the professional network that supports long-term career success.

Taking Action on Your Change Journey

Developing a positive attitude toward change isn’t about forced optimism or ignoring legitimate concerns. It’s about choosing growth over stagnation, curiosity over fear, and solutions over complaints. The strategies I’ve shared—from understanding resistance psychology to building daily positive habits—work because they’re grounded in real workplace experiences.

Start small. Pick one technique from this guide and practice it consistently for two weeks. Maybe you’ll begin each day identifying change benefits, or perhaps you’ll volunteer for a change-related project. Whatever you choose, commit fully and watch how your experience transforms.

Change is the only constant in modern business. By developing a genuinely positive attitude toward it, you position yourself not just to survive but to thrive through every transition. Ready to transform how your organization navigates change? Contact the experts at Complete Controller for guidance on building resilient, adaptable teams that embrace transformation.

Frequently Asked Questions About Positive Attitude Towards Change

How can I stay positive when a change directly threatens my job role?

Focus on developing transferable skills that increase your value regardless of organizational structure. Document your adaptability and contributions during the transition. Often, employees who embrace change find new opportunities within the organization or strengthen their resume for external positions.

What if my manager has a negative attitude about organizational changes?

Maintain your own positive perspective while showing empathy for your manager’s concerns. Focus on delivering excellent work and modeling constructive behavior. Your consistent positivity might influence your manager over time, but regardless, it protects your own performance and reputation.

How do I balance being positive with raising legitimate concerns about poorly planned changes?

Positive attitudes don’t mean blind acceptance. Frame concerns constructively by presenting potential solutions alongside problems. Use data to support your points and focus on improving outcomes rather than assigning blame.

Can forcing myself to be positive about change actually make things worse?

Authentic positivity develops gradually through practice, not force. Acknowledge difficult emotions while choosing constructive responses. Start with small mindset shifts rather than attempting complete transformation overnight.

How do I maintain positivity during multiple simultaneous changes?

Prioritize changes by immediate impact on your role. Create separate action plans for each major change. Build in extra self-care during high-change periods and celebrate small wins to maintain momentum.

Sources

• Pollack Peacebuilding. (2025). “59 Change Management Statistics.” www.pollackpeacebuilding.com
• Journal of Creative Behavior. (2024). “The Benefits of a Positive Attitude at Work.” Talent Logic, Inc.
• Oak Engage. (2023). “Employee Resistance to Organizational Change Study.” www.oakengage.com
• IOSR Journal. (2024). “Microsoft Cultural Transformation Case Study.” www.iosrjournals.org
• HR Executive. (2024). “Interview with Microsoft’s CPO on Cultural Transformation.” www.hrexecutive.com
• Acara Solutions. (2022). “Company Culture of the Past and Present.” www.acarasolutions.com
• Gallup. (2025). “Employee Engagement vs. Employee Satisfaction.” www.gallup.com
• American Psychological Association. “Positive Thinking.” www.apa.org/topics/positive-thinking
• Wikipedia. “Change Management.” en.wikipedia.org/wiki/Change_management
• Wikipedia. “Growth Mindset.” en.wikipedia.org/wiki/growth_mindset
• University of Warwick. (2022). “Happiness and Productivity Study.” www.warwick.ac.uk
• Complete Controller. “The Leadership Style Best to Run an Organization.” www.completecontroller.com/the-leadership-style-best-to-run-an-organization
• Complete Controller. “How Can You Find a New Job.” www.completecontroller.com/how-can-you-find-a-new-job
• Complete Controller Blog. www.completecontroller.com/BLOG
• Journal of Organizational Change Management. (2024). “Employee Attitudes and Organizational Commitment During Change.”
• Harvard Business Review. (2024). “Building Resilience in Times of Change.”
• MIT Sloan Management Review. (2023). “Leadership Strategies for Organizational Change.”
• McKinsey & Company. (2024). “The Psychology of Change Management.”
• Society for Human Resource Management. (2024). “Employee Engagement During Organizational Change.”
• Forbes. (2024). “Developing a Growth Mindset in the Workplace.”

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. Reviewed By: Brittany McMillen

Brittany McMillen

Brittany McMillen is a seasoned Marketing Manager with a sharp eye for strategy and storytelling. With a background in digital marketing, brand development, and customer engagement, she brings a results-driven mindset to every project. Brittany specializes in crafting compelling content and optimizing user experiences that convert. When she’s not reviewing content, she’s exploring the latest marketing trends or championing small business success.

See Full Bio

In 2019, banks received a credit history 5.12 million times, 78% more than in 2018. Most people remember credit history, and some learn for the first time now when the bank suddenly refuses to issue a loan. The borrower either had delinquencies on previously taken loans or has a poor credit rating, which banks are guided by. However, the credit history of any of us can affect the possibility of obtaining a loan.

Credit History Knows About Your Debts for Housing and Communal Services

Sometimes even a client who repays a debt on credit obligations in good faith can get a refusal from a bank. You should pay attention to delays in payments or other debts, such as when paying bills for communications, utilities, or transferring alimony. In addition to personal information and details of loans and borrowings, their maturity, information about the outstanding balance, and the presence or absence of overdue debts, banks are trying not to get involved with malicious non-payers for housing and communal services. For example, insurers ask for credit history to determine a fairer price for a policy.

Debt In Inheritance

Sometimes, along with the property or instead of it, a person receives numerous debts as an inheritance. There are cases when the heirs were forced to sell the property acquired under the will to cover the obligations of the deceased and spend their funds. To conclude entering an inheritance, you need to determine if the dead has debts. To do this, you need to contact a notary. From his credit history, you can find out about the credit obligations of the dead person.

Data for both your credit card and your mortgage

After adopting a single scale, it will be easier for users to correlate the values obtained in different credit bureaus. You can store that information in several organizations at once, and with a different maximum score, it is not always possible to compare the values. It is essential when the values are borderline and different bureaus have additional data. For example, one has data for both your credit card and your mortgage, while the other has only your mortgage; to assess the credit history quality as accurately as possible; it is necessary to compare the results from both bureaus. A favorable credit rating does not guarantee mortgage approval: each bank has its scoring system and considers various factors when considering applications. It is not recommended to apply to microfinance organizations: they have lower requirements for borrowers. Suppose you plan to receive a large loan, for example, a mortgage in a bank. Therefore, a new loan received may indicate that you were refused by the bank but not refused here. In that case, it is better to apply for a consumer loan here: this way, you will reflect your solvency in the global credit history and the intra-bank one.

I remember here. I don’t know here.

There are cases when incapacitated people under care took loans. At the same time, his guardian must deal with banks and tax departments. It is impossible to forbid anyone from receiving loans in our country and make bans on their credit history. However, if the court declared a person incompetent or partially incapacitated and decided to include this information in the BKI reports, you can add relevant information to it. If the bank or IRA has documentary evidence of incapacity, it also has the right to send this information to the bureau. But it is not an immediate ban on the issuance of loans or loans but only serves as a warning to creditors.

Challenging Is Easier and Faster

Previously, to correct information in the credit history, the borrower could only apply for a low amount loan. From 2021, you can do this through a bank or loan app. According to the new rules, they must notify the borrower within 15 business days that the information in the credit history is correct, and no changes will be made or make the required adjustments. The time has also been reduced by almost half – up to 8 working days. At the same time, the Central Bank recommended that banks provide an opportunity to submit applications to challenge information in the credit history in electronic form. Credit score checks do not affect the quality of history. You can request this information regularly from your bank or the websites of various bureaus to track changes and adjust your track record if necessary.

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.

Many people say that they can afford to buy the most sophisticated TV or smartphone; no, you can’t if you don’t have the total amount to buy. It will allow him to go through the path of trial and error earlier and understand how to act in the future. He will learn to plan expenses, save money, independently make financial decisions, and value his time and resources. Let his first financial goal be a toy – but he will buy it himself and understand how to move towards his goal. Children are more vulnerable to scammers. Without preparation, the child will not recognize deception because he does not yet understand the risks and trusts everyone.

Check with a friend by phone or at a meeting whether he asks for money, look at the phone balance – whether there was a transfer. It is better to discuss with the child what methods of fraud he may encounter and how to act in such situations. For example, hackers have hacked into a friend’s page on a social network and will be asked to transfer money on his behalf. Or an SMS message was received stating that they allegedly made a transfer to the wrong phone number by mistake and asked to return this amount. It is necessary to explain to the child that such messages need to be checked. Better yet, ask your parents for help.

Explain In a Playful Way

The best way to introduce children to money is through games and experiments. Offer the child a game: imagine that you have found a treasure. How do you know if it’s real money or fake money? You can use actual bills and money from Monopoly. Investigate how to distinguish a genuine bill. Tell your child about the signs of the authenticity of banknotes, show pictures of watermarks, how letters and numbers shimmer, and where other security features are hidden. You can gather friends and hold a competition: who will find the most animals and plants on the banknote using a magnifying glass.

Explain to your child that money does not grow on trees and does not take from the box (ATM), as many kids believe. The child must understand that money does not appear by itself at the first request. Tell us what professions are and why they are paid differently. You can arrange a game, for example, in a profession. Children can choose their role: hairdresser, doctor, baker. Give everyone a set of toy money so they can ask each other for favors and pay for them. Please start with the elementary: we receive products and vital services in exchange for money. For example, if you don’t buy milk, you won’t have anything to eat muesli in the morning, and if you don’t pay for electricity, the house will be dark and cold. Playshop: put a price on different products. Someone will be a seller; someone will be a buyer. The main thing is to convey to the child that things do not get just like that; you need to pay for them first.

Time to Learn to Plan Properly

You can teach planning on the example of a family budget. The child must understand that the costs are divided into:

• Obligatory Predicted Payments: utilities, transport costs, and sometimes – loan payments.
• Necessary purchases: food, clothes, medicines
• Optional Payments: entertainment, travel, buying toys, etc.

First, you should subtract the mandatory projected payments from the budget and calculate the approximate number of necessary purchases. And only then decide what the remaining amount will go to. This approach will help the child to understand the difference between what I want and what I can and teach them to make the right choice. Help your child plan purchases properly – teach him to make a list of necessary products before going to the store. Tell them that products in the same category prices may differ due to composition, volume/weight, brand value, etc. Teach your child to use resources rationally: explain how to use water and electricity economically and why it is not always worth buying what is cheaper – a better thing will last longer.

Conclusion

Finally, explain that a dream is a goal, and a plan is needed to achieve it. If the child correctly prioritizes purchases and saves some pocket money, he will be able to save up for the desired thing. Please encourage your child to regularly keep a diary of expenses to be easier for him to understand what he spends his money on. Some banks issue children’s cards to which you can transfer pocket money. It is very convenient as parents can track their usage. Explain to your child how to protect yourself from scammers – do not give bank card details to anyone, cover the ATM keyboard with your palm while entering a pin code, etc.

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.

This post will look at what forensic accounting is, who forensic accountants are, the many forms of forensic accounting, and how much a forensic accountant makes.

Let’s begin with an explanation of what forensic accounting is.

What is forensic accounting?

The examination of fraud or financial manipulation by exceptionally detailed research and analysis of financial data is known as forensic accounting.

According to Investopedia, forensic accounting examines a person’s or company’s finances using accounting, auditing, investigative abilities, or skills.

As a forensic accountant, you are expected to look beyond a company’s numbers and into the company’s overall predicament. Forensic accounting is frequently used in judicial procedures to give appropriate accounting analyses.

Forensic accounting is frequently utilized in court to clarify the nature of a financial crime in fraud and embezzlement cases.

Forensic accounting is employed in cases where you must quantify losses in litigation support.

In this context, a review of financial data that you can utilize to support a court case is forensic accounting. Parties to legal disputes employ quantifications to aid in the resolution of conflicts through settlements of judicial judgments.

It could happen because of wage and benefit issues, for example. If the dispute goes to court, the forensic accountant could be called an expert witness.

Types of forensic accounting

 Supplier Fraud

Vendor fraud, often known as payment fraud, initiates or routes payments without authority.

Supplier fraud can be committed by those inside the company, such as employees, or outside the company, such as vendors. Supplier fraud follows a pattern that can be divided into three categories:

Sellers Acting Alone Fraud is a type of collection fraud involving the deceived firm’s suppliers and workers.

Bankruptcy

A sort of fraud committed by white-collar criminals is bankruptcy fraud. It is a legal procedure by which individuals or other entities unable to pay their debts seek relief from some or all their obligations. An insolvent’s legal condition is not confined to bankruptcy.

Investment fraud

Investment fraud, also called securities fraud or stock market fraud, is a fraudulent strategy used in the stock or commodity markets to fool investors into making a purchase or sell decisions based on false information, which is illegal.

Financial identity theft

Financial identity theft is another sort of forensic accounting. It occurs when someone earns a financial profit by utilizing the personally identifiable information of another individual (PII).

 Insurance Fraud

When the buyer or seller of an insurance contract commits criminal conduct, it is known as insurance fraud.

Insurance fraud by the issuer includes:

• Selling policies from a non-existent company.
• Failing to submit premiums.
• Creating policies to collect more fees.

Debt default

When a borrower fails to refund their debt due, it is called a default. The parameters agreed upon by the creditor and the borrower decide how long until a default occurs.

Some loans default after one missed payment, while others do not default until three or more installments have been omitted. Such an occurrence can have profound implications, such as a bad credit rating.

Computer forensics

Computer forensics is a branch of digital forensics that deals with evidence gathered from computers and digital storage devices.

Its goal is to conduct forensic investigations into digital media to locate, preserve, retrieve, evaluate, and provide facts and insights into digital data.

Salary of a forensic accountant

According to the BLS, jobs for accountants, particularly forensic accountants, are predicted to expand by 6% between 2018 and 2028.

Furthermore, many states expect accounting jobs to increase even faster, with some anticipating growth rates of 20% or more.

The median forensic accountant salary in 2018 was $70,500. Forensic accountants frequently need a bachelor’s degree in accounting.

Employees’ job and income prospects improve when they specialize and gain suitable certification. Forensic accountants can become certified forensic examiners (CFE) or certified public accountants (CPA).

Conclusion

I hope that this post clearly defines forensic accounting and the work opportunities available in this field.

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 trying to reconcile “business” performance with the protection of society’s overall interests, the market economy must fast devise ways to “count” firm performance “differently.”

This article aims to explain that you can consider another type of accounting. The future appears to be in a report that includes a BALANCE SHEET in each area: social/societal balance sheet, environmental balance sheet, and economic balance sheet. General accounting rules would apply to each balance sheet: double entry, available chart of accounts, and monetary value. IFRS or national accounting regulations would apply to the economic balance sheet.

These social/societal and environmental balance sheets should adhere to regulations that allow them to be used in financial transactions. In the first phase, the proposed technique would select an example (business case) and quantify its action and societal utility using relevant indicators and monetary numbers based on an estimate generated with stakeholders’ help. In the second step, we will attempt to establish the premises of an accounting model based on an “extension of the conceptual framework.”

Accounting application to these two new areas (environmental and social/societal) must be based on a project that first outlines the functions that this “alternative accounting” is expected to perform: considering man and nature.

This better accounting standard (which considers environmental and societal factors) would allow corporations (and organizations) to be distinguished from those that are both efficient and sustainable. It would also allow investors, consumers, employees, and others to express their choice for standardized and unique data, bringing “business” and “public interest” closer together (Eccles and d’Humieres, 2010).

After describing the current scenario marked by the traditional accounting approach’s infamous inadequacies in assessing a company’s social responsibility, we will define the principles of “extended accounting” before offering an example. We will quantify a specific situation and discuss viewpoints and potential research paths to meet this problem.

The remainder of the limits of accounting for corporate social responsibility

Accounting and financial data do not reflect the measures performed by businesses in sustainability! Many recent polls (Price Waterhouse, Medef, and others) have demonstrated that companies are concerned about sustainable development (SD) and social responsibility (SR). At the same time, they highlight the challenges of gathering and combining non-financial data.

For example, the NRE (New Economic Regulations) Law is an example of a “standard” that aims to bring accounting, financial, social, environmental, and economic data closer together. On the other hand, this standard does not address the issue of “disarticulation” between general accounting (standardized and audited data) and SR management accounting, which can be helpful for a company’s strategic management. This ” disarticulation ” exacerbates this “disarticulation exacerbates the secrecy of the company’s scope and governance methods.”

According to SR principles, governance must affect decisions and the organization’s entire performance will be determined by interactions between the primary stakeholders, not just the financial strategy at the priority service of the single stakeholder who represents the shareholders.

Furthermore, traditional accounting information systems are incapable of apprehending potential development and are limited to preserving standardized facts from the past.

“Green accounting,” its interest and its shortcomings

The SR features of the organization are not included in the standard accounting principles. Nonetheless, accounting based on the “Environmental” pillar has emerged over time. Christophe explains, “Effective information system on the degree of scarcity of natural elements generated by the company’s activity, which may be utilized to minimize scarcity and to alert third parties,” according to green accounting (or “environmental accounting”) (Antheaume and Christophe, 2005)

“Green accounting” may appear to be a nascent tool for integrating corporate social responsibility efforts into financial statements…but “When a company harms the environment, it automatically harms humans. Hence the firm must be held ethically accountable for its actions. This argument is founded on the ethical concept of “do no harm to future generations” (Ayotte, 1995).

In 1996, the National Accounting Council advocated isolating “environmental investments” (e.g., de-pollution) in different account numbers or even determining what percentage of taxes and duties is attributable to the environment (taxes on waste).

With IAS 37 “Provisions, contingent liabilities, and contingent assets,” the IFRS rules consider evaluating “intangible assets,” particularly the environment, at the worldwide level. The latter enables a company to acknowledge “environmental provisions” (for example, by considering the delivery of a site report). Companies can thus be held “accountable” for their performance in decreasing environmental consequences in this new framework.

The corporation only considers the market value when calculating its costs. However, during its operations, particularly in production, the corporation uses human and natural resources that are not accounted for in standard accounting since they are unrestricted. The notion of “negative added value” demands that the cost of consuming natural heritage be considered. The environmental costs of a firm can thus be described as the charges that the company must account for to deal with the environmental repercussions of its operations.

They are aware of the “externalities” that the company generates. An environmental expenditure is one made to prevent, minimize, or correct the damage caused by the company. In practice, assessing them remains challenging, such as determining the “price” of natural heritage. (P. Baret and B. Dreveton, 2010).

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.

1. Reduce Electricity cost:

Compare your electricity provider regularly with other providers. If you switch, you can save up to $500 a year. Completely switch off all devices you do not need – because televisions, PCs, etc., still consume electricity in standby mode. Especially before a vacation, you should check that all household items are turned off. Also, use energy-saving lamps for your lights and use economical household appliances – for the latter, look out for the label with the best energy efficiency class.

2. Lower borrowing costs

There are some methods to save money when it comes to mortgage lending. If possible, do without loans and only use them if you cannot finance various purchases in any other way. Above all, avoid overdraft facilities–the interest rates for these are significantly higher than regular installation loans. You can also use debt restructuring: regularly compare different loans and replace your old one’s loan if a new one offers better conditions.

3. Check insurance

Think about it: Which insurance policies do you need, and which ones can you confidently cancel? Read here which types of insurance are particularly relevant for renters? Get a regular overview with the help of lists. Compare your contributions and the contributions of other providers here as well. Switch as soon as you find a reputable provider with better conditions. You can save a few hundred euros a year, especially with property insurance – such as household contents insurance, legal expenses insurance, and private liability insurance.

4. Structure purchasing

Always write a shopping list when you go shopping for groceries – this way, you can avoid impulse purchases. Double trips to buy forgotten items can also be avoided in this way. Go shopping in the discounter: good, branded products are often cheaper here. When shopping for clothes, always consider whether you need the item of clothing. Perhaps you will also find beautiful items of clothing second-hand? Furniture, toys, and the like can often be bought well used. You can also borrow books, DVDs, and CDs.

5. Reduce car costs

If you have the opportunity, ride your bike and train more often or use car-sharing offers. It is much cheaper to buy a year-old vehicle or a used car when buying a vehicle due to the rapid depreciation. Compare your car insurance costs every year and look out for discounts. Also, compare the prices of several gas stations before you fill-up the vehicle. Read here which tricks work best when negotiating prices.

6. Reduce DSL and mobile phone costs

Compare the various providers regularly and switch to cheaper tariffs in good time. Especially for the Internet and DSL, there are often new, cheaper tariffs that “old customers” are not automatically informed of. Sometimes it is worth asking your provider for newer taxes. In this way, you can easily save several hundred dollars per year. Also, consider whether you need flat rates or whether a volume tariff for mobile phones or the Internet is sufficient. You should also think about whether a prepaid cell phone might be enough for you if you only use it seldom.

7. Compare health insurance

Check whether other health insurance companies offer better value for money at regular intervals. If this is the case, change in good time. Since January 1st, 2015, checkout customers can save money. High earners can save up to 445 euros a year in costs, and low earners can save up to a hundred dollars. You can also use bonus programs: you can join a sports club, for example, to collect bonus points. You can later redeem these for cash or non-cash prizes.

8. Reduce water and heating costs

If possible, use the shower rather than the bath. Also, don’t leave the water running unnecessarily – in the shower, you can turn off the water when soaping. Also, check that the toilet is flushed regularly and that all faucets are tight. You can also use a timer and thermostatic valves for the heating to optimally regulate the heat. It is very cost-effective if the heating temperature is lowered significantly at night or if the heating is switched on using a timer, e.g., B. from 10:30 pm to 5:30 am is switched off completely. 

9. Eliminate account fees

Check if you pay any fees for your checking to accouter using your credit card. There are now numerous banks and savings banks that offer free use. Be careful with withdrawals or payments abroad: Check the fees here in advance. Credit card payments sometimes account for between 1.5 and 2.0% of sales. Several financial institutions offer credit cards with which you can also withdraw money or pay abroad free of charge. You can also use our savings tips for vacations for an upcoming trip. Meanwhile, there are also some money-saving apps on the market with which you can quickly transfer money to your savings account.

10. Cancel Membership

Periodically make a list of all the subscriptions and memberships you have. Go through this list and cancel anything you haven’t used within a certain period. Pay attention to the notice periods – some offers, such as registering for the gym or the magazine subscription, are automatically extended. You can also read many magazines in the lending library or use cheaper e-paper subscriptions. And many sporting activities are also possible outside of a fitness studio.

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.

Networking is building and maintaining durable relationships that are beneficial for both sides and can be instrumental in achieving goals in your career and personal life.

Networking goes way beyond exchanging information or begging for favors from others. It’s about building relationships with people who often become your community of colleagues and friends as you progress through your career.

The Power of Networking

You can build a remarkable career on the foundation of networking. No one can deny the importance of networking, but why is it so important?

Opportunities

The most highlighted benefits of a robust network are the opportunities and options. The best chances are always shared within people’s works, often even before being made public! Assignments, projects, mergers, personnel, new clients, and items are just a few examples.

It holds in the job market as well. People in a company are frequently aware of a position that will become available before it is advertised. The first thing people do is notify their friends and family!

What would you do if a job opportunity arose and a friend with practical work experience was looking for work? Market research shows that 21% of Dutch people who changed jobs in 2019 found a job through their network.

The more extensive the network, the more opportunities!

Helping others

Networking is often associated with taking advantage of its benefits, and unfortunately, this is also usually the case in the business world.

Yet, there is a very crucial aspect of networking that people often neglect. That aspect is that you can serve other people in your contacts!

Helping someone with their career goals is beneficial. For example, consider helping someone get the first job or putting in a good word to help someone get a promotion.

It probably gives you an excellent feeling. In addition, this person will be ready to help you in the future.

Findability

Being visible and noticed is essential in building a career. One benefit of networking is that you become more visible to the right people.

By providing helpful information or tips to people who need it, you can build your reputation as knowledgeable, reliable, and supportive. You can gradually become that one person who “knows everyone” and is asked for everything through your contacts.

Knowledge

Staying informed of what is going on in your workplace and the market is essential for your growth, work ethic, and effectiveness.

Your connections are a great place to get new ideas and viewpoints. A broad network of informed, interconnected contacts means complete access to new and valuable information.

Sharing information about challenging experiences and goals is an essential advantage of networking. It may give you new insights that you would never have thought of otherwise! Just think about what is shared on LinkedIn that has added value in your industry.

In addition, offering unmatchable ideas to your network is an excellent way to build your persona as an innovative creator.

Advice

An essential benefit of a network is the possibility of obtaining free advice. Identifying common problems and opportunities might lead to valuable recommendations and guidelines.

Think for a while about having to pay every time you ask for advice from your friends, such as from a service provider. In the business world, advice is often necessary for survival.

Make it count that your network is prepared to give you the necessary advice. Providing real help to your contacts also provides a strong foundation for receiving support when you need it.

You may expect the same from your relationships if you put in the time and effort to advise them. Just make sure that they maintain a balance in giving and taking. There are always opportunists who try to take advantage of certain situations. On the other hand, people won’t be willing to help you if you never do anything in return.

Life experience

Having a large and diverse network ensures that you gain a broader perspective on life. Even without personally experiencing certain situations, you can still understand and empathize with others. By connecting with different people, you will learn about their experiences and problem-solving approaches, providing you with valuable insights and fresh perspectives on unfamiliar situations.

It also applies to knowing people from other countries. When you experience a different culture, you find out that some things you experience as ‘normal’ are not ‘typical,’ or vice versa.

On a business and personal level, you can gain all kinds of new insights and thus gain life experience. Having experience abroad is seen as a plus when applying for a job.

Gaining life experience contributes to being a good manager, leader, or friend. Knowing many (different) people, in other words, having a large and diverse network, plays a vital role in self-development. The more life you live, the better you can put things into perspective.

Confidence

Constantly showing yourself and meeting new people builds valuable social skills and confidence that you can take with you wherever you go. The more you create links, the more you grow and learn to make lasting connections.

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.