Saturday, June 23, 2018
Interesting Piscardi Hotels (world news)(travel advertisement)
(CREDIT):
--written by thewriter197.
--employed by Amazon.
--Paid $0.50 for the job.
Picardy, has plenty of places where you can stay and live comfortable. They offer 3 star hotels and excellent restaurants. The 3 star hotel was a 19th century mansion that was renovated in 2012. The residency offers breakfast only to visitors. A five star hotel called "Tiara Château Hotel Mont Royal" is also located in the Picardy area. The hotel is located in the middle of Chantilly Forest. The hotel includes opera events, jazz music, and cuisine from chef Benoist Rambaud.
Sunday, June 3, 2018
A Good Accountant Must Be Honest (Business Info)
(CREDITS):
--written by thewriter197
--employed by Ashford University
A good accountant must be honest. He must not be someone who thinks about doing something wrong for the company. Each action the accountant takes must be something that benefits the company. An accountant must not act on his own interest. He must know what to do for the company. He must not lie to the company. He must always do business that is in the best interest of the company. The accountant must not forget about who he really works for. He does not work for himself. He works for the company.
Reference:
http://smallbusiness.chron.com/ethics-managerial-accounting-3737.html
--written by thewriter197
--employed by Ashford University
A good accountant must be honest. He must not be someone who thinks about doing something wrong for the company. Each action the accountant takes must be something that benefits the company. An accountant must not act on his own interest. He must know what to do for the company. He must not lie to the company. He must always do business that is in the best interest of the company. The accountant must not forget about who he really works for. He does not work for himself. He works for the company.
Reference:
http://smallbusiness.chron.com/ethics-managerial-accounting-3737.html
Accountants Have Respoinsibilities (Business Info)
(CREDITS):
--written by thewriter197
--employed by Ashford University
Accountants have responsibilities when working with a company. One of their responsibilities is reporting financial data. An accountant is suppose to be honest about the transactions a company is making. If the company has some loop holes in their business, the accountant is suppose to report it. If the company is coming up short for a couple of months, the accountant is suppose to report it. If the business is not going well, the accountant is suppose to make some adjustments and try to fix the financial situation. The accountant is also responsible for making sure the company or individual does not spend more then they need to. The accountant is suppose to make sure that the spending is not going past the month to month bills. Making money does not stop you from spending too much. Sometimes, you need to slow down and it becomes difficult at times. You want to impress people but you need to make sure that your business is strong and bills are paid. Every business must have a spending limit for month to month. An accountant must always keep certain information confidential. If they agreed to keep their mouth shut about certain information then they must keep their mouth shut at all times about certain information.
Reference:
http://smallbusiness.chron.com/ethics-managerial-accounting-3737.html
--written by thewriter197
--employed by Ashford University
Accountants have responsibilities when working with a company. One of their responsibilities is reporting financial data. An accountant is suppose to be honest about the transactions a company is making. If the company has some loop holes in their business, the accountant is suppose to report it. If the company is coming up short for a couple of months, the accountant is suppose to report it. If the business is not going well, the accountant is suppose to make some adjustments and try to fix the financial situation. The accountant is also responsible for making sure the company or individual does not spend more then they need to. The accountant is suppose to make sure that the spending is not going past the month to month bills. Making money does not stop you from spending too much. Sometimes, you need to slow down and it becomes difficult at times. You want to impress people but you need to make sure that your business is strong and bills are paid. Every business must have a spending limit for month to month. An accountant must always keep certain information confidential. If they agreed to keep their mouth shut about certain information then they must keep their mouth shut at all times about certain information.
Reference:
http://smallbusiness.chron.com/ethics-managerial-accounting-3737.html
Always Follow a Stable Budget (Business Info)
(CREDITS):
--written by thewriter197
--employed by Ashford University
The difference between static budget and a flexible budget is stability. The static budget provides more stability because you know how much money your spending month to month. Static budget is also recommended by a business writer on chron.com. The writer reports, having a budget for a business that is stable and determined will let you know how much money you need to make month to month. Flexible budgets are good for people who have a good business. But, that business needs to be really good. The business needs to be producing enough profit to the point where the business can afford to derail from the budget at any time. If your business is not good, then I suggest you stick to the static budget. Don't pretend to do good business. If your business is not good, then you need to own up to it. Be honest with yourself and make some adjustments. The flexible budget might be good for a selling business that is doing good. Before the economy hit, I was making money on Amazon and spending money like candy. I do not do that anymore because my business has not been to good. I have to do research and make sure things go according to plan now. It's a rough adjustment but I have to make my business good again. My business is getting better but it is still not where it should be. Now, I will personally use the static budget. It will help keep my expenses low and make sure I can cover bills. But, once I start making more money I will still keep a static budget because making money is hard. Spending money is not that hard. I will keep a tight budget on my expenses and try to get my business in order. A company should always use a static budget you never know what is going to happen next. There has been a lot of changes in the economy in USA lately. I am pretty sure that UK is doing good. But, United States is not doing so good we focus too much on entertainment and that is a problem for everybody. Not everybody in the United States wants to be an actor. So, everybody needs to follow a static budget to make sure employees and bills are paid. I don't recommend a flexible budget at all. If you feel you should wait until June or whatever to buy something, then I suggest you do it. This world is unforgiving when you fail. Failure is not something you don't have time for in any business.
Reference:
http://smallbusiness.chron.com/static-vs-flexible-budgets-new-businesses-20879.html
--written by thewriter197
--employed by Ashford University
The difference between static budget and a flexible budget is stability. The static budget provides more stability because you know how much money your spending month to month. Static budget is also recommended by a business writer on chron.com. The writer reports, having a budget for a business that is stable and determined will let you know how much money you need to make month to month. Flexible budgets are good for people who have a good business. But, that business needs to be really good. The business needs to be producing enough profit to the point where the business can afford to derail from the budget at any time. If your business is not good, then I suggest you stick to the static budget. Don't pretend to do good business. If your business is not good, then you need to own up to it. Be honest with yourself and make some adjustments. The flexible budget might be good for a selling business that is doing good. Before the economy hit, I was making money on Amazon and spending money like candy. I do not do that anymore because my business has not been to good. I have to do research and make sure things go according to plan now. It's a rough adjustment but I have to make my business good again. My business is getting better but it is still not where it should be. Now, I will personally use the static budget. It will help keep my expenses low and make sure I can cover bills. But, once I start making more money I will still keep a static budget because making money is hard. Spending money is not that hard. I will keep a tight budget on my expenses and try to get my business in order. A company should always use a static budget you never know what is going to happen next. There has been a lot of changes in the economy in USA lately. I am pretty sure that UK is doing good. But, United States is not doing so good we focus too much on entertainment and that is a problem for everybody. Not everybody in the United States wants to be an actor. So, everybody needs to follow a static budget to make sure employees and bills are paid. I don't recommend a flexible budget at all. If you feel you should wait until June or whatever to buy something, then I suggest you do it. This world is unforgiving when you fail. Failure is not something you don't have time for in any business.
Reference:
http://smallbusiness.chron.com/static-vs-flexible-budgets-new-businesses-20879.html
Accounting Temporary and Permanent Transactions (Business Info)
(Credit):
--written by thewriter197
--employed by Ashford University
(Temporary Differences):
Income that is not included on the income tax return. Not all assets, liabilities, and revenues is included in the income tax return. Side money and temporary jobs, are not included on income tax returns year to year. So, they are considered to be temporary differences or short transactions. Contracts from small people and small under the table payments for little jobs are not included in the income tax return. In short, money and assets that is made outside a big corporation.
(Permanent Differences):
The opposite of temporary differences. They are the amounts of wage and the job payment made to an individual by work. It is also lease and rent receipts. Its, permanent transactions or long term payments made to a piece of land or corporation. Long term payments and long term amounts of payment. Organization start-up costs are also included as permanent differences.
(Temporary difference category):
[Revenue for financial purposes]: Earning from an investment. Some companies can invest in something and use it for financial gain only. Construction sites often purchase material and sometimes usell material for temporary financial gain.
[Expenses not included on tax returns]: Some expenses are not included in income tax returns. These expenses are temporary difference. Litigation expenses and warranty cost are not included. Losses of business products are also temporary. Not included in tax return.
(Permanent difference category):
[Club Dues]: These transactions are recurring so they are permanent and put in the income tax return. Clubs like the gym, bar, party, airline, and hotel.
[Meals and entertainment]: These are considered permanent because humans have to eat. So, this is a recurring transaction from month to month. Entertainment is also recurring like a Netflix subscription. So, transactions will be considered permanent difference.
Reference:
Putra, L. D. (2009, August). Temporary and permanent differences [accounting for income tax]. Retrieved from http://accounting-financial-tax.com/2009/08/temporary-and-permanent-differences-accounting-for-income-tax
--written by thewriter197
--employed by Ashford University
(Temporary Differences):
Income that is not included on the income tax return. Not all assets, liabilities, and revenues is included in the income tax return. Side money and temporary jobs, are not included on income tax returns year to year. So, they are considered to be temporary differences or short transactions. Contracts from small people and small under the table payments for little jobs are not included in the income tax return. In short, money and assets that is made outside a big corporation.
(Permanent Differences):
The opposite of temporary differences. They are the amounts of wage and the job payment made to an individual by work. It is also lease and rent receipts. Its, permanent transactions or long term payments made to a piece of land or corporation. Long term payments and long term amounts of payment. Organization start-up costs are also included as permanent differences.
(Temporary difference category):
[Revenue for financial purposes]: Earning from an investment. Some companies can invest in something and use it for financial gain only. Construction sites often purchase material and sometimes usell material for temporary financial gain.
[Expenses not included on tax returns]: Some expenses are not included in income tax returns. These expenses are temporary difference. Litigation expenses and warranty cost are not included. Losses of business products are also temporary. Not included in tax return.
(Permanent difference category):
[Club Dues]: These transactions are recurring so they are permanent and put in the income tax return. Clubs like the gym, bar, party, airline, and hotel.
[Meals and entertainment]: These are considered permanent because humans have to eat. So, this is a recurring transaction from month to month. Entertainment is also recurring like a Netflix subscription. So, transactions will be considered permanent difference.
Reference:
Putra, L. D. (2009, August). Temporary and permanent differences [accounting for income tax]. Retrieved from http://accounting-financial-tax.com/2009/08/temporary-and-permanent-differences-accounting-for-income-tax
Dell Inspiron Gaming Laptop Email Advertisement (job test document)(business advertisement)
(Credit):
--written by thewriter197
--job test document for email marketing
--the test is for (salesfolk)
--the test failed
Purchase a Gaming Dell Laptop Inspiron for Only $700
(About Info): Are you interested in a gaming laptop that can run 60FPS and give you the best overall quality. Then, purchase a Dell Laptop Inspiron today and game on. Equipped with GTX 1040 and core I7 processing power. Capable of making the overall game experience fluid and smooth. You will be able to move so fast while playing Call of Duty that you will be the king. Do you want to be a PC elite gamer? Are you sick of being a poor potato gamer? Then purchase a gaming PC today. Experience 4K graphics like you never seen. Want to see something that looks beyond realistic? The movements looks so real that you forget your playing a video game. Purchase a Dell Inspiron Laptop today.
(Shipping Information): Shipping time is 3-7 days. Shipped with USPS only. Shipped inside a protective case with added cushion protection. Guaranteed to work or we will give you a full refund.
(Dell Inspiron Laptop Review Link):
https://www.youtube.com/watch?v=efkQrXv4ckc
(Buy Now for $700):
https://www.amazon.com/Dell-Inspiron-Gaming-Laptop-i5577-7359BLK-PUS/dp/B06XFGF7SN/ref=sr_1_cc_1?s=aps&ie=UTF8&qid=1522219275&sr=1-1-catcorr&keywords=dell+laptop+inspiron+15+7000
(Contact):
Contact me by email at (tgtruman@salesfolk.com) if you have any questions or need additional details.
--written by thewriter197
--job test document for email marketing
--the test is for (salesfolk)
--the test failed
Purchase a Gaming Dell Laptop Inspiron for Only $700
(About Info): Are you interested in a gaming laptop that can run 60FPS and give you the best overall quality. Then, purchase a Dell Laptop Inspiron today and game on. Equipped with GTX 1040 and core I7 processing power. Capable of making the overall game experience fluid and smooth. You will be able to move so fast while playing Call of Duty that you will be the king. Do you want to be a PC elite gamer? Are you sick of being a poor potato gamer? Then purchase a gaming PC today. Experience 4K graphics like you never seen. Want to see something that looks beyond realistic? The movements looks so real that you forget your playing a video game. Purchase a Dell Inspiron Laptop today.
(Shipping Information): Shipping time is 3-7 days. Shipped with USPS only. Shipped inside a protective case with added cushion protection. Guaranteed to work or we will give you a full refund.
(Dell Inspiron Laptop Review Link):
https://www.youtube.com/watch?v=efkQrXv4ckc
(Buy Now for $700):
https://www.amazon.com/Dell-Inspiron-Gaming-Laptop-i5577-7359BLK-PUS/dp/B06XFGF7SN/ref=sr_1_cc_1?s=aps&ie=UTF8&qid=1522219275&sr=1-1-catcorr&keywords=dell+laptop+inspiron+15+7000
(Contact):
Contact me by email at (tgtruman@salesfolk.com) if you have any questions or need additional details.
This Good Local SEO Guide Will Lead Your Company to Success (business info)(job test document)
(CREDITS):
--written by thewirter197
--employed by a (writing client)
--job test document.
--Test was failed.
Following This Good Local SEO Guide Will Lead Your Company to Success
Need a good blue guide for finding a good local SEO? Of course you do and the process to find one is simple. Researchers from all over the world are looking for a local business to do business with. Wouldn’t it be great if your business was chosen? Finding a good marketer has a lot to do with finding someone who knows how to finish the job. You need someone who knows the fastest way to market. Someone who possess the right skills and mindset to get your website more attention. Someone who is creative enough to think of new ways to get traffic to your website if current methods are not working. Here are a few tips to help you find the right person for the local SEO job.
l Optimize Your Website
Make sure to find someone who knows how to fix up a web page. This person needs to be skilled in making website pages. Ask to see examples of web content work. You need to make sure the candidate knows how to make a web page look good for business. Make sure the candidate can optimize your website to the max.
l Add Maps
Make sure this SEO knows how to add your business location to Google maps. Most people looking for business or luxury, use Google maps to find something that is close by. Make sure that SEO can get your business address put on the map. Local customers want to find you on Google maps at any time. You don’t want people to get lost right? Finding a SEO that can add business addresses properly is imperative.
l Market Content Online
An SEO should be great at marketing online. Don’t hire a SEO who can’t offer marketing skills for the team. You need customers and that SEO needs to know who to pay to get engaging views. You need to check that SEO’s work history and make sure they know what to do. Make sure they know about Twitter marketing, Youtube marketing, and email marketing. These three pathways are the main sources of marketing.
Reference:
Long Term Investments Need to be Researched (Business Info)
(CREDITS):
--written by thewriter197
--employed by Ashford University
Long term investments, should be planned years in advance. Don't just jump into long term investments. Some of the issues that come with long term investments is that things are not always going to go according to plan. You might have to quit your investments after years of failure. Now, you shouldn't be afraid to fail at something. Failure teaches good lessons. Knowing this in mind, invest with confidence and invest in something that you have did research into. You might fail in the end but you must be willing to go through with the plan. You must not chicken out with the plan. There are events or evidence that might persuade a company or individual to quit the plan. No, you only quit the plan when the plan has failed. Not before testing the plan out. Fear is a problem that companies may have in the beginning of long term investments. The other problem is value of products change over time. Everybody wants different things over time. The demand of something is going to change rather you want it to or not. You must invest in something that can be adapted to do other stuff. Make sure you invest in a product that can do multiple things. Do not invest in a product that can only do one thing. One thing, will be the end of your company in the event that things change really fast. It does happen in society. Make sure that one thing you invest in is something that can be used for different things.
--written by thewriter197
--employed by Ashford University
Long term investments, should be planned years in advance. Don't just jump into long term investments. Some of the issues that come with long term investments is that things are not always going to go according to plan. You might have to quit your investments after years of failure. Now, you shouldn't be afraid to fail at something. Failure teaches good lessons. Knowing this in mind, invest with confidence and invest in something that you have did research into. You might fail in the end but you must be willing to go through with the plan. You must not chicken out with the plan. There are events or evidence that might persuade a company or individual to quit the plan. No, you only quit the plan when the plan has failed. Not before testing the plan out. Fear is a problem that companies may have in the beginning of long term investments. The other problem is value of products change over time. Everybody wants different things over time. The demand of something is going to change rather you want it to or not. You must invest in something that can be adapted to do other stuff. Make sure you invest in a product that can do multiple things. Do not invest in a product that can only do one thing. One thing, will be the end of your company in the event that things change really fast. It does happen in society. Make sure that one thing you invest in is something that can be used for different things.
Make Choices That Please Investors (Business Info)
(credit):
--written by thewirter197
--Employed by Ashford University
I agree, the changes in a company must suit the investors. If the investors do not like the changes. They will not do business with you in the future. They will not also want to give you money anymore. The customer is always right with business. Except for instances that involve not getting paid or not paying enough for the job. The investors must be satisfied in any event. If those investors do not agree with the terms, then you must make the terms more agreeable. Look, you can not force people to give you money. You have to make them think they are getting a good deal. Most of the time, you are going to have to work hard and you got to meet those deadlines. You won't always get a good deal. More often then you think. In the end, make sure the investor is satisfied.
--written by thewirter197
--Employed by Ashford University
I agree, the changes in a company must suit the investors. If the investors do not like the changes. They will not do business with you in the future. They will not also want to give you money anymore. The customer is always right with business. Except for instances that involve not getting paid or not paying enough for the job. The investors must be satisfied in any event. If those investors do not agree with the terms, then you must make the terms more agreeable. Look, you can not force people to give you money. You have to make them think they are getting a good deal. Most of the time, you are going to have to work hard and you got to meet those deadlines. You won't always get a good deal. More often then you think. In the end, make sure the investor is satisfied.
Business Discussion About Lease Activities (Business Info)
(Credit):
---written by thewriter197
---employed by Ashford University
Business Discussion About Lease Activities
FASB, Financial Accounting Standard Board, will introduce new leasing rules that will affect companies worldwide (Burkholder, 2016). The companies will be required to accept new methods for accounting balance sheets and new methods for managing account activities (Burkholder, 2016). The main company types who will see change in accounting regulation are retailers, banks, airlines, and restaurants (Burkholder, 2016). Most of the balances on balance sheets are not accurately regulated. Most companies use broad estimates to record their finances from year to year. This normal regulation for accounting is expected to change in the year 2019. This is a huge problem for 85% of companies who use estimates instead of exact measurements. In 2019, the new accounting procedure will be initiated and all companies around the world will be required to follow it (Burkholder, 2016).
The FASB is requiring companies to show their debt amount in exact increments to investors (Burkholder, 2016). This might scare away some investors. Some investors may not want to invest with a company that is drowning in large amounts of debt (Burkholder, 2016). The new rules is going to force some companies to go out of business due to precise business information being shown to investors.
“Under current rules, companies are generally able to classify virtually all leases as operating leases and keep them off their balance sheets…..(Norris, 2013).” In other words, companies were allowed to leave certain transactions off the lease balance sheet. They could include what was necessary and leave certain payments off the books. They could write the balance statement for lease documents in the best way they could. They could use broad estimates to cover the expenses involved instead of exact measurements. The old lease policy gave multi-million corporations and small business owners more advantage.
There are airplane companies who love to not record all their asset value on lease balance sheets. They want to get a cheaper price for using someone’s airplane. So, they will often bend the rules and leave out the real value of the asset they are using (Norris, 2013). They would leave out the asset cost of the planes to prevent the airline companies from having to pay the exact amount for credit (Norris, 2013). Credit they agreed to pay back on planes they borrowed from certain companies and countries. They wanted to prevent paying large amounts for credit on the initial agreement. The old policy will allow companies to lie about how much money they need to pay back to creditors for operating activities.
The old policies created a loop hole that the FASB wanted to stop occurring. The FASB, wants to make sure all companies pay the amount they are owed. They do not want people to get a break. They also do not want people to lie about their loans or credit owed. If they owe an amount to certain individuals, they want that amount to be paid back in full. They need to change the accounting rules on the balance sheet to prevent people from paying less for something not planned (Norris, 2013).
The lease rules will require companies around the world to pay the amount in payments based on what the value of the asset is (Norris, 2013). They are required to pay that amount year to year. Payments will also be based on what was promised for the asset in the beginning of the lease purchase (Norris, 2013). Airline companies will no longer have the opportunity to lie about balances on lease statements. Equal liability payments must be made for each asset (Norris, 2013).
There are many companies who are not going to like the new rules being put in place for 2019. Most companies around today, would like to follow the old rules for balance sheets. Following the previous methods allowed companies to make estimates which gave companies an easier time to process payments. The new rules require companies to be accurate which is time consuming. Companies prefer estimates because estimates are fast and require less time to calculate for balance statements (Norris, 2013). However, FASB wanted to put a stop to companies lying about asset value to get cheaper payments (Norris, 2013).
The new leasing rules will affect the cash flow statement, balance sheet, and income statement. Income statements were general estimated for rent payments in the past (2016). Some rent payments are excluded unless they come with a specific rate or specific index (2016). The rent payments will now have to be exact and calculated for each lease. The calculations and discounts will have to be included for each lease payment. This is connected to income because it requires leases to give the exact amount of what should be paid for a lease. So, this would mean that leases would need to be more constant and accurate. This would also mean that rent owners will not be allowed to change amounts out of the blue. Apartment complexes and condo owners have been know to change their rent fees in the middle of a lease. They have also been known to change the rules a lease before the lease has ended in the first place. Income statements would be more constant. The cash flow would also have to be more constant to keep up with new lease policies. If the cash flow for a business falls, then the leases will get terminated. This would indicate that payments have to be made on time or things will go downhill. There can no longer be estimates of what should be paid for rent. Things have to be paid exactly and precisely. The balance sheet, would have to show the exact amount. There can no longer be estimates for what is paid. Nobody, can escape the loop hole. Business must be accurate and record properly. It would prevent companies from changing fees on short notice. They would have to wait until the lease term is up.
Airplane industries would be affected most by the new leasing policies (Norris, 2013). Airplane industries are struggling financial in terms of getting people to pay for vacation. They need the old policies to manage their plane costs. Now, They run a business that is based on people traveling to other places. Once people stop traveling, the airline companies will lose sales. The new policy is making airline companies make less money because profits are going down. Profits go down due to higher amounts of lease payments. They have to pay those payments to make sure that they have planes and other equipment. If they are unable to lie about asset value, then they have to pay more then what they pay now. The new leasing rules will affect airplane companies the most.
There is two new lease types classified under lease policies as A and B (Katz, 2016). For operating leases, they would be classified as Type B (Katz, 2016). Examples of Type B would include tractors, trucks, generators, printers, and other devices used for work operate purposes (Katz, 2016). For leases not related to operating, they would be classified as Type A (Katz, 2016). Examples of Type A, would include buildings, land, crops, machines that last 100 years, intangible assets, and other items that have a very long life (Katz, 2016). Calculations for these two types should not be a problem for most companies to follow. But, accurate calculations must be made and monitored correctly to ensure numbers add up for lease payments.
The presence of the new balance sheets must reflect accurate financial statements. Companies have been using the old accounting policies for about 30 years(Katz, 2016). They will have to do some major calculations that was not originally required. Some companies are going to refer some items as personal computers to reduce the amount of lease payments needed to be paid for certain items used (Katz, 2016). Companies who refer to some items as personal to get rid of certain payment might be able to lower their lease amounts (Katz, 2016). However, only time will tell if the method of referring some equipment as personal will actually lower the cost of lease payments. All new balance statements will have to be accurate and reflect the right amount of data. No more estimates will be used for certain equipment.
The new lease rules set be the FASB, will require the asset of something to be equal to the liability of the same thing (2016). “The liability will be equal to the present value of lease payments. The asset will be based on the liability, subject to adjustment, such as for initial direct costs (2016).” The leases will also have to use the new FASB dual model which requires the leases to be operating or finances. Assets and liabilities will be computed equally and be classed in a specific category. Based on new policy, estimates on what should be paid will not change what was agreed to be paid in the beginning. Lease payments will be equal to the asset of the product.
Normally, the lease payments would go down after years due to “front-loading (2016).” Front-loading is when you lease something and the payments go down as time stretches. However, front-loading is no longer allowed with new accounting polices. The new accounting polices require companies the pay the equal amount of the asset. They can not pay a lower amount then the value of the asset. It doesn’t matter if it is operating or capital (Katz, 2016). They have to pay the equal amount of the asset. The lease will only go down if the asset leased goes down in asset value (2016).
Interest rates will be changed due to the new lease policy. The lease payments will be the expected value of the lease or asset (Norris, 2013). The rent will be based on an index (Norris, 2013). Lease would be paid with a fixed rate plus percentage of sales (Norris, 2013). Value of the assets and liabilities will be updated every year (Norris, 2013). Initial value will be current level of index (Norris, 2013). In general, the interest rates will be included with sales for leases, but exact amounts of asset value must be included (Norris, 2013).
At the end of each year, asset and liabilities will have to be updated. If the value of the asset changes, the value will have to be updated to by next year (Norris, 2013). The same applies for liabilities (Norris, 2013). Estimates can not be used. Exact payment amounts and equal amounts based on asset value must be used (Norris, 2013).
The policies require some disclosures for the financial statements and balance sheets. Judgments made by management must provide extensive information on revenue and expenses (2016). Management can not make estimates for revenue and expenses (2016). Exact measurements and amounts must be recorded and reported (2016). Management is also expected to give precise information on contract finaces (2016). In short, people working for a company must give accurate information for lease expenses and revenue.
Income tax statements will be the same as usual. The companies will have about three years to report their financial information to the accounting officials. This would indicate a high or lower tax return amount. It depends on the revenue and expenses with leases.
FASB, is going to change the old leasing policies in the year 2019 (Burkholder, 2016). Companies have not been required to give exact estimates of their asset value in the past. New policies requires companies to give the asset value and pay the appropriate lease amount. Companies will no longer be able to lie about their assets to get cheaper lease payments. Value of assets and liabilities will have to be reported each year (2016). Airline companies will be hit the hardest with the change of lease rules. Airplane companies are based on traveling. When they have to pay more to travel people, they will take a big cut out of their payment. Payments for rent leases will have to be followed (2016). Rent owners will no longer be allowed to raise cost of a lease at any given time. Some companies are not happy with reporting exact leasing information. The old way of reporting lease information required estimates. This new policy requires calculations and must be reported year to year. Balance sheets can no longer be estimated or guessed. They have to recorded with accurate information. Will these new policies make the world a better place? Well, it will require people to pay the same fee constantly. That is the only thing that will change. But, it could start a path for people to work with better cash flow.
Reference:
(2018). Front Loaded Lease. WebFinance Inc.
Retrieved from URL: http://www.businessdictionary.com/definition/front-loaded-lease.html.
(2016, Feb. 25). The FASB Lease Accounting Standard Has Arrived. Retrieved from URL: https://www.pwc.com/us/en/cfodirect/publications/in-brief/fasb-lease-accounting-standard-asc842.html.
(2016, April 01). Evaluate the Tax Considerations of the New Lease Accounting Standard. Grant Thornton LLP. Retrieved from URL: https://www.grantthornton.com/library/articles/tax/2016/tax-considerations-of-new-lease-standard.aspx.
Bell, Michael. (2018, March 27). FASB Accounting Overview for Corporate Real Estate. Retrieved from URL: https://visuallease.com/fasb-accounting-overview-for-corporate-real-estate/.
Burkholder, Steve. (2016, March 01). FASB Issues Lease Rules; Will Have Big Balance Sheet Impacts. The Bureau of National Affairs, Inc. Retrieved from URL: https://www.bna.com/fasb-issues-lease-n57982067931/.
Katz, M. David. (2016, Jan. 13).New Lease Standards May Demand Two Sets of Books. Retrieved from URL: http://ww2.cfo.com/gaap-ifrs/2016/01/new-lease-standards-may-demand-two-sets-books/.
Norris, Floyd. (2013, May 16). New Accounting Proposal on Leasing Portends Big Changes. Retrieved from URL: https://dealbook.nytimes.com/2013/05/16/significant-changes-proposed-in-lease-accounting/.
Ryan, Deatrick. (2014, Nov. 24). Retrieved from URL: https://www.schneiderdowns.com/our-thoughts-on/construction/proposed-lease-standard-facing-congressional-opposition.
Tysiac, Ken. (2016, Jan. 13). IASB issues leases standard; FASB to follow. Association of International Certified Professional Accountants. Retrieved from URL: https://www.fm-magazine.com/news/2016/jan/iasb-issues-leases-standard-201613694.html?TestCookiesEnabled=redirect.
---written by thewriter197
---employed by Ashford University
Business Discussion About Lease Activities
FASB, Financial Accounting Standard Board, will introduce new leasing rules that will affect companies worldwide (Burkholder, 2016). The companies will be required to accept new methods for accounting balance sheets and new methods for managing account activities (Burkholder, 2016). The main company types who will see change in accounting regulation are retailers, banks, airlines, and restaurants (Burkholder, 2016). Most of the balances on balance sheets are not accurately regulated. Most companies use broad estimates to record their finances from year to year. This normal regulation for accounting is expected to change in the year 2019. This is a huge problem for 85% of companies who use estimates instead of exact measurements. In 2019, the new accounting procedure will be initiated and all companies around the world will be required to follow it (Burkholder, 2016).
The FASB is requiring companies to show their debt amount in exact increments to investors (Burkholder, 2016). This might scare away some investors. Some investors may not want to invest with a company that is drowning in large amounts of debt (Burkholder, 2016). The new rules is going to force some companies to go out of business due to precise business information being shown to investors.
“Under current rules, companies are generally able to classify virtually all leases as operating leases and keep them off their balance sheets…..(Norris, 2013).” In other words, companies were allowed to leave certain transactions off the lease balance sheet. They could include what was necessary and leave certain payments off the books. They could write the balance statement for lease documents in the best way they could. They could use broad estimates to cover the expenses involved instead of exact measurements. The old lease policy gave multi-million corporations and small business owners more advantage.
There are airplane companies who love to not record all their asset value on lease balance sheets. They want to get a cheaper price for using someone’s airplane. So, they will often bend the rules and leave out the real value of the asset they are using (Norris, 2013). They would leave out the asset cost of the planes to prevent the airline companies from having to pay the exact amount for credit (Norris, 2013). Credit they agreed to pay back on planes they borrowed from certain companies and countries. They wanted to prevent paying large amounts for credit on the initial agreement. The old policy will allow companies to lie about how much money they need to pay back to creditors for operating activities.
The old policies created a loop hole that the FASB wanted to stop occurring. The FASB, wants to make sure all companies pay the amount they are owed. They do not want people to get a break. They also do not want people to lie about their loans or credit owed. If they owe an amount to certain individuals, they want that amount to be paid back in full. They need to change the accounting rules on the balance sheet to prevent people from paying less for something not planned (Norris, 2013).
The lease rules will require companies around the world to pay the amount in payments based on what the value of the asset is (Norris, 2013). They are required to pay that amount year to year. Payments will also be based on what was promised for the asset in the beginning of the lease purchase (Norris, 2013). Airline companies will no longer have the opportunity to lie about balances on lease statements. Equal liability payments must be made for each asset (Norris, 2013).
There are many companies who are not going to like the new rules being put in place for 2019. Most companies around today, would like to follow the old rules for balance sheets. Following the previous methods allowed companies to make estimates which gave companies an easier time to process payments. The new rules require companies to be accurate which is time consuming. Companies prefer estimates because estimates are fast and require less time to calculate for balance statements (Norris, 2013). However, FASB wanted to put a stop to companies lying about asset value to get cheaper payments (Norris, 2013).
The new leasing rules will affect the cash flow statement, balance sheet, and income statement. Income statements were general estimated for rent payments in the past (2016). Some rent payments are excluded unless they come with a specific rate or specific index (2016). The rent payments will now have to be exact and calculated for each lease. The calculations and discounts will have to be included for each lease payment. This is connected to income because it requires leases to give the exact amount of what should be paid for a lease. So, this would mean that leases would need to be more constant and accurate. This would also mean that rent owners will not be allowed to change amounts out of the blue. Apartment complexes and condo owners have been know to change their rent fees in the middle of a lease. They have also been known to change the rules a lease before the lease has ended in the first place. Income statements would be more constant. The cash flow would also have to be more constant to keep up with new lease policies. If the cash flow for a business falls, then the leases will get terminated. This would indicate that payments have to be made on time or things will go downhill. There can no longer be estimates of what should be paid for rent. Things have to be paid exactly and precisely. The balance sheet, would have to show the exact amount. There can no longer be estimates for what is paid. Nobody, can escape the loop hole. Business must be accurate and record properly. It would prevent companies from changing fees on short notice. They would have to wait until the lease term is up.
Airplane industries would be affected most by the new leasing policies (Norris, 2013). Airplane industries are struggling financial in terms of getting people to pay for vacation. They need the old policies to manage their plane costs. Now, They run a business that is based on people traveling to other places. Once people stop traveling, the airline companies will lose sales. The new policy is making airline companies make less money because profits are going down. Profits go down due to higher amounts of lease payments. They have to pay those payments to make sure that they have planes and other equipment. If they are unable to lie about asset value, then they have to pay more then what they pay now. The new leasing rules will affect airplane companies the most.
There is two new lease types classified under lease policies as A and B (Katz, 2016). For operating leases, they would be classified as Type B (Katz, 2016). Examples of Type B would include tractors, trucks, generators, printers, and other devices used for work operate purposes (Katz, 2016). For leases not related to operating, they would be classified as Type A (Katz, 2016). Examples of Type A, would include buildings, land, crops, machines that last 100 years, intangible assets, and other items that have a very long life (Katz, 2016). Calculations for these two types should not be a problem for most companies to follow. But, accurate calculations must be made and monitored correctly to ensure numbers add up for lease payments.
The presence of the new balance sheets must reflect accurate financial statements. Companies have been using the old accounting policies for about 30 years(Katz, 2016). They will have to do some major calculations that was not originally required. Some companies are going to refer some items as personal computers to reduce the amount of lease payments needed to be paid for certain items used (Katz, 2016). Companies who refer to some items as personal to get rid of certain payment might be able to lower their lease amounts (Katz, 2016). However, only time will tell if the method of referring some equipment as personal will actually lower the cost of lease payments. All new balance statements will have to be accurate and reflect the right amount of data. No more estimates will be used for certain equipment.
The new lease rules set be the FASB, will require the asset of something to be equal to the liability of the same thing (2016). “The liability will be equal to the present value of lease payments. The asset will be based on the liability, subject to adjustment, such as for initial direct costs (2016).” The leases will also have to use the new FASB dual model which requires the leases to be operating or finances. Assets and liabilities will be computed equally and be classed in a specific category. Based on new policy, estimates on what should be paid will not change what was agreed to be paid in the beginning. Lease payments will be equal to the asset of the product.
Normally, the lease payments would go down after years due to “front-loading (2016).” Front-loading is when you lease something and the payments go down as time stretches. However, front-loading is no longer allowed with new accounting polices. The new accounting polices require companies the pay the equal amount of the asset. They can not pay a lower amount then the value of the asset. It doesn’t matter if it is operating or capital (Katz, 2016). They have to pay the equal amount of the asset. The lease will only go down if the asset leased goes down in asset value (2016).
Interest rates will be changed due to the new lease policy. The lease payments will be the expected value of the lease or asset (Norris, 2013). The rent will be based on an index (Norris, 2013). Lease would be paid with a fixed rate plus percentage of sales (Norris, 2013). Value of the assets and liabilities will be updated every year (Norris, 2013). Initial value will be current level of index (Norris, 2013). In general, the interest rates will be included with sales for leases, but exact amounts of asset value must be included (Norris, 2013).
At the end of each year, asset and liabilities will have to be updated. If the value of the asset changes, the value will have to be updated to by next year (Norris, 2013). The same applies for liabilities (Norris, 2013). Estimates can not be used. Exact payment amounts and equal amounts based on asset value must be used (Norris, 2013).
The policies require some disclosures for the financial statements and balance sheets. Judgments made by management must provide extensive information on revenue and expenses (2016). Management can not make estimates for revenue and expenses (2016). Exact measurements and amounts must be recorded and reported (2016). Management is also expected to give precise information on contract finaces (2016). In short, people working for a company must give accurate information for lease expenses and revenue.
Income tax statements will be the same as usual. The companies will have about three years to report their financial information to the accounting officials. This would indicate a high or lower tax return amount. It depends on the revenue and expenses with leases.
FASB, is going to change the old leasing policies in the year 2019 (Burkholder, 2016). Companies have not been required to give exact estimates of their asset value in the past. New policies requires companies to give the asset value and pay the appropriate lease amount. Companies will no longer be able to lie about their assets to get cheaper lease payments. Value of assets and liabilities will have to be reported each year (2016). Airline companies will be hit the hardest with the change of lease rules. Airplane companies are based on traveling. When they have to pay more to travel people, they will take a big cut out of their payment. Payments for rent leases will have to be followed (2016). Rent owners will no longer be allowed to raise cost of a lease at any given time. Some companies are not happy with reporting exact leasing information. The old way of reporting lease information required estimates. This new policy requires calculations and must be reported year to year. Balance sheets can no longer be estimated or guessed. They have to recorded with accurate information. Will these new policies make the world a better place? Well, it will require people to pay the same fee constantly. That is the only thing that will change. But, it could start a path for people to work with better cash flow.
Reference:
(2018). Front Loaded Lease. WebFinance Inc.
Retrieved from URL: http://www.businessdictionary.com/definition/front-loaded-lease.html.
(2016, Feb. 25). The FASB Lease Accounting Standard Has Arrived. Retrieved from URL: https://www.pwc.com/us/en/cfodirect/publications/in-brief/fasb-lease-accounting-standard-asc842.html.
(2016, April 01). Evaluate the Tax Considerations of the New Lease Accounting Standard. Grant Thornton LLP. Retrieved from URL: https://www.grantthornton.com/library/articles/tax/2016/tax-considerations-of-new-lease-standard.aspx.
Bell, Michael. (2018, March 27). FASB Accounting Overview for Corporate Real Estate. Retrieved from URL: https://visuallease.com/fasb-accounting-overview-for-corporate-real-estate/.
Burkholder, Steve. (2016, March 01). FASB Issues Lease Rules; Will Have Big Balance Sheet Impacts. The Bureau of National Affairs, Inc. Retrieved from URL: https://www.bna.com/fasb-issues-lease-n57982067931/.
Katz, M. David. (2016, Jan. 13).New Lease Standards May Demand Two Sets of Books. Retrieved from URL: http://ww2.cfo.com/gaap-ifrs/2016/01/new-lease-standards-may-demand-two-sets-books/.
Norris, Floyd. (2013, May 16). New Accounting Proposal on Leasing Portends Big Changes. Retrieved from URL: https://dealbook.nytimes.com/2013/05/16/significant-changes-proposed-in-lease-accounting/.
Ryan, Deatrick. (2014, Nov. 24). Retrieved from URL: https://www.schneiderdowns.com/our-thoughts-on/construction/proposed-lease-standard-facing-congressional-opposition.
Tysiac, Ken. (2016, Jan. 13). IASB issues leases standard; FASB to follow. Association of International Certified Professional Accountants. Retrieved from URL: https://www.fm-magazine.com/news/2016/jan/iasb-issues-leases-standard-201613694.html?TestCookiesEnabled=redirect.
Personal Finances (Business Info)(job test document)
(Credit):
--job test document for (phase two publishing)
--written by thewriter197
--test was failed
Personal Finances:
Managing your money properly is the key to financial success. However, if you are broke then achieving financial success is very difficult. You need to first make the decision to become wealthy. In order to do that, you need to make a decision to make money. You need to chase it or you won’t receive it. Week to week, you need to take account of how much money you make and how much money you save. Make sure you are chasing money week to week and don’t let time fly by you too quickly. Make sure you are saving what you can week to week as well. Tracking, chasing money, and saving money from week to week is the steps to become financially stable. Take control of what you do with your money and time.
When I say be frugal, I mean save everything you can. Its not an easy goal for the average joe. Yes, you have bills month to month. You have to pay for things you need that can cost a pretty penny. Despite all the bills, you know you need to make some effort towards saving money. Week to week, try to not spend money on things you do not need. Buying extra food you do not need or buying material things that do not keep you alive. You can save 40% of your income you make month to month. If you can’t save 40%, then save 20%. Learn how to say no to things you do not need. Over time, your income might increase, you might be eager to spend more money but no. Having a better job does encourage you to spend more money. But, You need to save that extra money you make and wait for the right time to spend it. Investing in something, can help you make more money from month to month as well. Rather than spending your extra money on junk, try spending money on investments that are going to benefit you later down the road.
If you are earning $5,000 a month, you need to figure a way to make $5,500 a month. Is it going to happen overnight? No, you must take small steps to learn what you need to. You must start by taking out a little bit of time to accomplish what you need to accomplish. Do you need to make phone calls? Do you need to ask people questions online and offline? Do you need to fill out more job applications or make a better job resume? Constantly think about what steps you need to take to increase your monthly income. Constantly think about what mistakes you can fix to make more money.
Most people think credit cards are evil. But, credit cards do help you in your time of need. Credit cards are not bad. People who use them irresponsibility are bad. Use credit cards like cash. Do not like credit cards take advantage of you. You must take advantage of credit cards. Do go over your credit budget and use them wisely.
--job test document for (phase two publishing)
--written by thewriter197
--test was failed
Personal Finances:
Managing your money properly is the key to financial success. However, if you are broke then achieving financial success is very difficult. You need to first make the decision to become wealthy. In order to do that, you need to make a decision to make money. You need to chase it or you won’t receive it. Week to week, you need to take account of how much money you make and how much money you save. Make sure you are chasing money week to week and don’t let time fly by you too quickly. Make sure you are saving what you can week to week as well. Tracking, chasing money, and saving money from week to week is the steps to become financially stable. Take control of what you do with your money and time.
- Be Frugal:
When I say be frugal, I mean save everything you can. Its not an easy goal for the average joe. Yes, you have bills month to month. You have to pay for things you need that can cost a pretty penny. Despite all the bills, you know you need to make some effort towards saving money. Week to week, try to not spend money on things you do not need. Buying extra food you do not need or buying material things that do not keep you alive. You can save 40% of your income you make month to month. If you can’t save 40%, then save 20%. Learn how to say no to things you do not need. Over time, your income might increase, you might be eager to spend more money but no. Having a better job does encourage you to spend more money. But, You need to save that extra money you make and wait for the right time to spend it. Investing in something, can help you make more money from month to month as well. Rather than spending your extra money on junk, try spending money on investments that are going to benefit you later down the road.
- The Numbers of Income:
If you are earning $5,000 a month, you need to figure a way to make $5,500 a month. Is it going to happen overnight? No, you must take small steps to learn what you need to. You must start by taking out a little bit of time to accomplish what you need to accomplish. Do you need to make phone calls? Do you need to ask people questions online and offline? Do you need to fill out more job applications or make a better job resume? Constantly think about what steps you need to take to increase your monthly income. Constantly think about what mistakes you can fix to make more money.
- Credit Cards:
Most people think credit cards are evil. But, credit cards do help you in your time of need. Credit cards are not bad. People who use them irresponsibility are bad. Use credit cards like cash. Do not like credit cards take advantage of you. You must take advantage of credit cards. Do go over your credit budget and use them wisely.
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