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Why have I attended over 2,000 networking events in the last seven years? Because I know it works. It brings me the leads, referrals, contacts, visibility and branding that I want for me and my business. The people I network with also know that it works; they are willing to “suit up and show up” as one of them puts it. What about you? Are you still unsure about the benefits? Do you wonder if it is beneficial or if networking is a waste of time? If you don’t want to take my word on the power of networking, here are the opinions of a couple people you might have heard of.

Muhammad Ali believes in the power of networking and relationships almost as much as he believed in the power of his own two hands. He told Harvey Mackay in “Dig Your Well Before Your Thirsty” that he learned how to build a network of promoters and endorsers early in his career. He also learned that

“Building a network is about paying attention to what people want.”

People want athletes who are the greatest and who entertain them. Ali certainly gave us that and it all came from his ability and belief in networking.

Erma Bombeck may have wondered if life was a bowl of cherries, why was she always in the pits, but she didn’t wonder how networking made her career. Early in her humorous writing career, she knew that the big newspaper in her city was run by the proverbial “good ol’ boys network.” How to break in? They probably weren’t fans of her housewife humor. But their wives were. So she went to the small weekly paper in the neighborhood where the editors lived and got the column in front of their wives, who of course loved her. They convinced their husbands to run the column.

“The only people who are lucky building their networks are the ones who work day and night making their networks succeed.”

Erma knew that she couldn’t reach her target market, but she knew that she could reach the influencers within that network.

If you are looking for proof that networking is an important tool for success, think of these very different people and how it worked for them. An athlete in an industry where you don’t think of connections except for glove to face. And a housewife whom millions of women identified with. If you ever enjoyed the thrills of watching Ali or laughed out loud at Erma, remember that they believed in the power of networking.

By: Beth Bridges

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In all, there are nine accounting principles that are used to prepare all business accounts. Any business accounts that are created using any of these principles, are deemed by the professionals in the accounting world, as accounts that were prepared with principles that are generally accepted by all accountants throughout the world.

If these principles were not used, and financial data was just thrown together haphazardly, then the accounting for your companies accounts, would be complicated to say the least. All of these nine accounting principles will help to keep your corporate accounting needs straight, and in a methodical method that every accountant will be able to understand.

The mother of all accounting principles is the accrual principle, and will ensure that all of the business revenues and expenses are methodically recorded when the money is earned, and not when it is paid for. There is a set way that money is recognized in the accounting world of high financed businesses, and the principles of revenue recognition are followed to make sure the recognition is interpreted right.

Accountants will use a historical cost principle when they are filling in the financial data for your business accounts. These accounts can glace at a balance sheet, and see what the price of the item that was sold, cost the company that they are recording business accounts records for. There are other account transactions that might be confused with this principle, and that is the current cost accounting feature.

For financial records to be consistent, accountants often require their clients to methodically record their financial transactions using the consistency principles. This way their financial information is recorded the same, time after time, and there will be no confusion over the entries after a long period of time.

If other principles are mixed with the constancy principles, the end result may provide the wrong financial figures. Tax auditors find that this will be the case in businesses that are performing illegal activities, and do not want to leave a lot of financial information that can be easily traced, and legitimate business do not want to leave this bad impression on such a major faction such as the Internal Revenue Service.

To keep financial accounting of business records from becoming confused with other expenditures made by the business owner, accountants like to use the separate legal entity concept when they are performing financial services for a company, and the personal banking transactions of a person that is small business owner. Some business owners get confused and make withdrawals from their business accounts for personal use, and make the wrong entries in both sets of checkbooks.

By: Alex Radyushin

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With tax time nearly upon us, many small businesses and first time entrepreneurs are scrambling to get their accounting information straightened out in order to file on time. When many small business owners think of accounting, they tend to associate it with income tax preparation and filing. The accounting for your small business should not be relegated to tax time. Accounting information can help business owners make better decisions, and improve the management of their business. It can also help them secure financing, and facilitate reporting to stakeholders (such as creditors, banks, and government agencies), and it can tip them off to any serious problems that might be brewing, such as dwindling cash resources, or debt burdens which may become overwhelming.

The accounting aspect of many small businesses is often the most neglected. Most small business owners don’t feel they have the time or expertise to devote to keeping their books. Let’s face it, most small business owners didn’t start a business because they were eager to deal with the finance and accounting aspects of it. The accounting is a function done at the end of the year for tax purposes. This attitude is unfortunate, because the accounting results of a business can represent a wealth of information, and can help business owners make better decisions. The fact is that accounting information really serves as an indicator of how healthy your business is. Think of your accounting information as a reading on a thermometer.

If you only see the value in accounting at tax time, you are missing out on an opportunity to get a true picture (and not just a “gut feeling) of how your business is performing financially. It is not likely that the individual who prepared your information is going to give you any tips or guidance with respect to the management of your business (unless your accountant or bookkeeper is also a relative or associate). Remember, in this instance you’ve paid them to prepare information for tax filing purposes, not provide consulting services on how to improve the performance of your business.

If you’ve already paid someone to prepare financial information for you, then the information is all there, waiting to be used. Business owners need not be the ones who prepare financial information, but they’d better be ready to be the ones who pay attention, and interpret, that financial information (or have a trusted associate who is willing to do this for them – although most accountants don’t come cheap). A responsible small business owner makes it a point to understand how to read financial statements, and draw conclusions from the information contained therein.

Unfortunately, you can’t really purchase accounting advice tailored to your small business over the internet. The good news is that you don’t need to be a financial genius to understand your balance sheet. There are many resources available on the web which can guide you through the process of understanding your financial statements. You may be just starting out, and looking for potential solutions. Or, you may be a seasoned business owner looking for some tips. There is a wide variety of solutions available, and these range from tutorials and e-books, to accounting and bookkeeping software. Learn more about these here: Accounting Tips for Small Businesses

With tax time nearly upon us, many small businesses and first time entrepreneurs are scrambling to get their accounting information straightened out in order to file on time. When many small business owners think of accounting, they tend to associate it with income tax preparation and filing. The accounting for your small business should not be relegated to tax time. Accounting information can help business owners make better decisions, and improve the management of their business. It can also help them secure financing, and facilitate reporting to stakeholders (such as creditors, banks, and government agencies), and it can tip them off to any serious problems that might be brewing, such as dwindling cash resources, or debt burdens which may become overwhelming.

The accounting aspect of many small businesses is often the most neglected. Most small business owners don’t feel they have the time or expertise to devote to keeping their books. Let’s face it, most small business owners didn’t start a business because they were eager to deal with the finance and accounting aspects of it. The accounting is a function done at the end of the year for tax purposes. This attitude is unfortunate, because the accounting results of a business can represent a wealth of information, and can help business owners make better decisions. The fact is that accounting information really serves as an indicator of how healthy your business is. Think of your accounting information as a reading on a thermometer.

If you only see the value in accounting at tax time, you are missing out on an opportunity to get a true picture (and not just a “gut feeling) of how your business is performing financially. It is not likely that the individual who prepared your information is going to give you any tips or guidance with respect to the management of your business (unless your accountant or bookkeeper is also a relative or associate). Remember, in this instance you’ve paid them to prepare information for tax filing purposes, not provide consulting services on how to improve the performance of your business.

If you’ve already paid someone to prepare financial information for you, then the information is all there, waiting to be used. Business owners need not be the ones who prepare financial information, but they’d better be ready to be the ones who pay attention, and interpret, that financial information (or have a trusted associate who is willing to do this for them – although most accountants don’t come cheap). A responsible small business owner makes it a point to understand how to read financial statements, and draw conclusions from the information contained therein.

Unfortunately, you can’t really purchase accounting advice tailored to your small business over the internet. The good news is that you don’t need to be a financial genius to understand your balance sheet. There are many resources available on the web which can guide you through the process of understanding your financial statements. You may be just starting out, and looking for potential solutions. Or, you may be a seasoned business owner looking for some tips. There is a wide variety of solutions available, and these range from tutorials and e-books, to accounting and bookkeeping software.

By: Jodi Hayes

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Kansieo.com

When we read the Wall Street Journal, New York Times, the Economist, Bloomberg Business News, Business Week, Forbes, Investor’s Business Daily, the Financial Times, and even the Beige Report from the FED we are told with graphs, charts, and pictures that there is deflation in the United States, not inflation. However, if you factor in certain industry sectors of our economy you can see that there is quite a bit of Inflation in many places – for instance food at the grocery stores.

Even if Wal-Mart rolled back prices on certain items like Catsup for a dollar, 2 liter bottle sodas for $.88, or corn for $.25 per cob, that doesn’t mean that we don’t have Inflation in the food sector of our economy. We actually do, and we could be witnessing higher prices of wheat worldwide which is used for many products, as well as the price of feed which increases the prices for meat. And speaking of meat, this is where the “rubber meets the road” for the restaurant industry.

As the economy decides whether it is going to slip back into a double dip recession or not, many companies are not rehiring, but they are getting ready just in case. That is to say they are reducing their labor force and lowering prices as a hedging strategy against further economic impairment. The low-cost high-volume strategy is commonplace during recessions, and that would include the restaurant industry. So on one hand the restaurant sector in 2010 will have to give deals to bring in guests to their eateries, yet on the other hand their cost of food will increase, due to inflation.

This is a Catch-22, and it doesn’t bode well for those that are unemployed who may work in the restaurant sector or for the shareholders equity and quarterly profits of the largest restaurant chains. And even still mom and pops restaurants, those great family-owned restaurants with great food in your local neighborhood and community will also suffer. Their costs will rise even more than the large chains, which can take advantage of purchasing power.

So whereas, we are told, nearly every day on CNBC, MSNBC, Fox Business News, and the other cable network business news stations that we are experiencing deflation, that doesn’t mean we can automatically apply that to any and all industries. And, as we watch oil prices come back up, this very much increases the price of food, because all food requires fuel for tractors, for shipping it to market, and to deliver it to the restaurants. The restaurant industry is not out of the woods yet, even if many of the larger chains are reporting greater profits presently, and so, I hope you will please consider all this.

By: Lance Winslow

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Kansieo.com

Dss stands for department of social security. Applicants who are physically and mentally incapable of earning to a great extent to survive in their life called as disabled and can avail financial help from dss. Dss, however, does not offer enough finance to live by. For the sake of those applicants, loans for people on dss have been come into existence. These loans are designed for the people staying on dss benefits and arise in need of cash to meet their unpaid expenses and fulfil their desires.

Do you have defaulted credit ratings? Even if your credit rating is not favorable you can apply and get instant approval for this loan. You can get an opportunity to boast your credit rating by making timely repayments of this loan.

Loans for people on dss have a number of benefits. First of all, you can find both secured as well as unsecured form of this loan so that you can select the best that would suit your needs. For the secured option you will have to pledge collateral, while for the unsecured no collateral is required.

It is convenient to avail this loan with the ease of online medium. The money you need can be available to you in your checking account. You can now apply for this loan from the convenience of your home or office. Simple application procedure, fast approval and least formalities and paper work are other benefits that you can enjoy by applying for this loan.

Applicants who are disabled, unemployed, injured by accidents, or not capable of earning anymore of old age are eligible for loans on benefits.

These loans are suitable and good enough to meet sudden and unexpected financial disasters. The borrowed money can be utilized for following purposes like:

Unexpected medical treatments
Payment of loan installments
Paying off home installments
Purchasing a car
Paying off your child’s education fee and so on

Thus, these loans surely bring you out of the ordeal of arranging money providing such quick financial assistance with loans for people on dss.

By: Kingston Peter

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Business finance software is fast gaining popularity, especially in computerized financial planning systems. At the heart of a computerized financial planning system is a model that specifies the relationships relevant to the firm. A computerized financial planning system helps in preparing proforma financial statements, estimating the requirement of external funds, and calculating a variety of ratios. Such a system naturally offers a number of advantages. Once the model has been developed, the tedium of manual computations is eliminated with the help of business finance software. The circularity problem is easily tackled as the computer can quickly perform the required iterations. Finally, business finance software can be employed very conveniently to perform sensitivity analysis.

Thanks to the above advantages, the computerized financial planning system strengthens the firm’s planning ability. However, there is a potential disadvantage associated with it that may be overlooked. The ease that computations can be performed with the help of business finance software and forecasts generated may result in misdirected efforts. A large quantity of low-quality predictions may be churned out creating confusion and on the part of management. Quality may be sacrificed to quantity. To guard against this danger, greater thought should be given to the scenarios evaluated and the quality of analysis when using business finance software.

With electronic data processing, it is possible to handle large amounts of data and to make information available to a large number of people. Thus, one can obtain, analyze and organize timely data quite inexpensively by using business finance software. But it must never be forgotten that data is not necessarily information. Information must inform someone. With the help of business finance software, you can use computer graphics. It can inform visually, displaying important company information. Managers can now quickly display a colored map showing their competitive picture instead of computer printouts for information.

By: Kristy Annely

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