In fact, some of the most creative yet technical, entrepreneurial and lateral thinking individuals you’ll ever meet work in this field. At the same time, there are cases where showmanship and hype can overwhelm real substance and certain behaviors get annoying.

Understand, this very much a rant post and most rants do little for the reader and a lot for the writer. It’s all about me you know. However, if this one sheds light or more likely, entertains, then it’s a win win. (more…)

Annual inflation rate in Croatia earlier this month has increased on to 8.4 percent, the Central Bureau of Statistics has announced a few days before. Most have increased prices of food products, 14.7 percent, which make up 29.13 percent of the index. In relation to the preceding month, prices have risen 0.1 percent. Most are on average increased fuel and petroleum derivatives – 6.8 percent and prices of housing, energy, water, gas and other fuels that have grown 4.1 percent. If February is excluded, in which at the monthly level was on record a mild drop in consumer prices, in July was 0.1 percent, the lowest monthly growth rate this year (the other months, prices have grown by rates of 0.6 to 1.1 per cent). However, at the annual level is the continued growth of inflation, considering that in April amounted to 5.7 percent, in May 6.4 percent, in June, 7.6 percent, and in July 8.4 percent.

Inflation is also visible on the price of union basket. According to the Alliance of independent trade unions, most were growing costs nourishment – 322 kuna in a year are now amount of 2350 kuna. In order to pay for basic life expenses, four-member Croatian family last month needed 528.49 kuna more than in July last year. The growth of living costs, however, was not followed with the growth of average wages that are in the year increased to 237 kuna. (more…)

Firstly we must appreciate the fact that the Nigerian economy is not only facing decline but have brought untold hardship to the citizens of the country, even then the economic situation of the country is fast proving insurmountable to a whole lot of the finest economic brains of the country and even International Organizations such as IMF, World Bank and others alike.

Many ordinary Nigerians wake up today and find nothing to eat, not as a result of laziness but lack of employment is another contributory factor among numerous others. A situation where undergraduates are ready to attend lectures but the financial means are lacking yet school fees keep increasing on yearly basis leaves nothing but terrible situations. Only the average Nigerians can understandably explain their bad situations because we feel it biting us. Worse still, institutions in Nigeria do not work in accordance with the affordability of the people. Prices of goods rise while jobs are lacking. (more…)

Businesses that offer check cashing offer a quick and convenient way for people to access their personal finances. They serve millions of people all over the world with all levels of income, every day.

Recently, check cashing businesses have grown in both name and function. Many businesses now offer not only check cashing services but also other types of financial services to expand their customer base. (more…)

There are three main classes of bankruptcy: Chapter 7, Chapter 11, and Chapter 13.

Chapter 7 bankruptcy will discharge most types of debts for the average citizen. It will stay on record for ten years, but the major benefit is the stay it provides which prevents creditors from hassling you. (more…)

So you have decided to become an accounting major at the university of your choice. Making this decision will allow you to have an abundance of job opportunities at the end of your (hopefully) four- year tenure. In addition to the decision to be an accounting major alone, the opportunity to participate in co-op and internship positions are available at most universities and colleges and will further assist you in being hired once you enter the real world.

Being an accounting major allows you to have a great deal of freedom in your future occupation, but be assured that working long hours in an accounting firm is not your ultimate fate. Consider a government job, in particular becoming a Special Agent for the Internal Revenue Service. Most people are surprised that this job titles requires an accounting degree because Special Agents are actually criminal investigators for the IRS.

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I approached one of my friends with an inspirational idea to enlighten other. The idea was to make college students more aware of the decision they make as far as partying and consequences they may receive from a night of so called fun. His name has been changed to protect his identity.

Me: Joe could you told me a little about your past and what made you come to college?

Joe: ‘I’m never going to amount to anything!’ Or at least that is what my fifth grade teacher made me believe. At ten, I felt that my life was pointless; a purposeless journey. Television was the only place I heard other children being told that they would achieve prestigious positions such as lawyers, doctors, or presidents. But in my life and neighborhood we were told we were nothing. So when I was giving the opportunity to attend college I made the best of my situation. For the first four semester of my college career I received nothing less than a 3.11 gpa for a semester, I strived to maintain a high level of academic excellence.

In an incident on August 26, 2008 there was party to celebrate the new inductees to a fraternity that was revived on West Chester University’s campus. There was a constant flow of people in this party. It seemed t be an endless supply of liquor at this after hour event. With that much liquor being distributed it was just a matter of time before the situation would end in devastation. Tempers flared over words that were exchanged. Innocent bystanders tried to calm both sides. Incoherent and uncooperative, a scuffle broke out.

Me: Joe from what you can remember may I have your perspective of what happened that night at your apartment.

Joe: I was jumped by two guys and three girls. I just remember being kicked while I was on the ground. While I was down on the grow I kept repeating ‘yall going to jump me.’ The offenders left immediately after the altercation. I was helped up by one of the neighboring residents. The police soon arrived and I was questioned about the recent events that just occurred. Alcohol lingering on my breath and refusing to participate in their investigation, they (Police) cuffed me. I was taken back into my apartment as it searched. Alcohol was found. I was then taking to the peoples building where I took a breathalyzer test. Blowing a .224 I was charged with disorderly conduct for supposedly physically engaging in an act that served no legitimate purpose and public drunkenness which is self explanatory. Two citations were giving to me with fines reaching over $820 and 10 hours were spent in a holding cell.

The Friday morning of November 7, 2008 approximately 12:30 am at another social gathering that is taken place in the same apartment that was previously mentioned. There was a hard bang at the front door:

Me: After that knock on the door Joe what was going through your mind? What was your reaction?

Joe: Looking through the peep hole I see two police officers. I told everyone at the party that it was the cops. Within an instant the music is cut off and everyone scurries off to the rooms in the back. The cop’s were let in by a non-resident that was attending the party. The cops could hear the raffling of feet and the whisper of voice coming from the back rooms. The cops ask for a resident of the apartment. Two of the residents left as soon as they heard the cops were coming. I was the only tenant there. Not wanting the full responsibility to fall on my shoulders I stayed locked in my room hoping that the cops would grow impatient with the waiting for our surrender and leave. However, the police had intentions on calling the Resident Director and keying in to every room in the apartment. There were 17 people cited for underage drinking and I was once again cited for disorderly conduct for being disruptive. Each underage citation was giving a $420 fine. I received a $310 fine for disorderly conduct and a summons to appear in court for Infliction of Harm, reckless behavior: Alcohol, on campus, underage, furnishing to minors; Alcohol, Public Intoxication; Disorderly Conduct; Sanction Violation while on Probation, and Criminal/Civil Statute. Hundreds of dollars will be spent on lawyer fees and several hours will be spent in court.

Exactly 1 week later on Friday November 14, 2008 Black Student Union was hosting a party in the Purple Gym at 9:30. Before hand there was a social gathering to drink alcohol and to listen to music. Many attendant this ‘pregaming’ for the party but only one individual got out of control

Me: Obviously Joe School was your main focus this semester; can you tell me about your most recent occurrence?

Joe: I remember going to the party from walking over from the diner. At the diner I was told one of my friends almost gotten into a fight. From the moment on my guard was up worried for my friend. So anyway, I went to the party and browsed it before I made any moves. I stayed in the background with my frat until we party walked. While party walking I was bumped. Insanely drunken this sparked something that I dearly regret. I went after the kid with intentions of hurting him. As I was being held back by friend this cause a scene. The police soon would come over to assist me out the party upset that I had to leave I push the officer lead head off of me. Two more officers came over and I was picked up off my feet and slammed firmly on my chest. The police escorted me over to the people building once again where I passed out than was taken to the hospital by an ambulance. At the hospital there was blood work taken and procedure followed. After sobering up I was allowed to leave with a friend. I was once again cited for $310 for public drunkenness and $422 for disorderly conduct.

I concluded that we all pay for our mistakes one way or another. Some pay by having a mental burden of regret linger on the conscious. However, Joe will have to pay through fines and court appears. Joe and his associate semester of partying came to a total of $8,182 plus the additional amount for the lawyer fees. The fines and fines combine could pay for an entire 15 credit semester complete with north campus double dormitory, 19 meals per week, and you would also receive a refund check of $1,376. I leave it up to you to decide for yourself if party is really worth it.

Depreciation is a term used in accounting or finance that means to spread the cost of an asset over the span of its depreciable life. In much more simpler terms, depreciation accounts for the reduction of an assets value over time through usage. The use of depreciation in the United States affects financial statements and the taxes of companies and individuals. When depreciation is recorded, an expense is recognized which therefore lowers stated income. The assets book value is also changed when depreciation is recorded because its book value is lowered by the depreciation expense recorded each year.

Depreciation for accounting and tax purposes can differ substantially. Depreciation also can be called amortization, which means the depreciation of intangible assets. Depreciation or amortization for accounting purposes will not affect the cash flow of a company, because it is not figured in the cash flow statement, and it may not be added back to net income to calculate the operating cash flow. Depreciation in accounting is used for two main purposes: to match its expenses with income, and to make sure the values assigned to each asset are not over or understated. (more…)

Entering a Big 4 Firm is a lot like entering a secret society or fraternity. There are traditions and secrets that are shared by the members and passed down to new recruits. This feeling of comradery and heritage is one of the most special parts of working for a Big 4 firm and what separates the experience from working for a regional or local firm.

As you begin your journey it will do you good to learn a bit of the history of these firms. Knowing where these firms have been will help you understand the role that you will be taking on as a new recruit and the legacy you will continue. (more…)

To make sure that financial statements are easy to understand, there is a set of rules and practices that is established, which is known as the generally accepted accounting principles (GAAP). This has been developed to provide a basic guideline for the rules of accounting because I think it’s fair to say that it can get confusing at times. There are a lot of variations to the meaning so here is the best answer. It’s the generally accepted accounting rules and procedures that are necessary to define accounting practice. Basically it’s a set of theories that accountants come to accept, and there are always controversies with some methods between accountants like any other field of study.

Accounting is a discipline that is always growing and changing so it’s a good idea to keep up to date with all of the trends that are going on. Since the management prepares the financial statements of a company it is possible that a financial statement can be altered to give a company a particular boost. So, that’s why the companies that sell their ownership to the public needs to get their financial statements audited by a public certified accountant. A certified public accountant (CPA) are licensed through the sate for the same exact reason lawyers and doctors are, so they and protect the public by providing the highest quality of professional service possible. The reason why CPAs are used is because they have no connection with the company and are independent. They have zero financing ties with the company.

Some firms that employ a lot of certified public accountants include Deloitte & Touch, KPMG, and PricewaterhouseCoopers. An accountant with no strings attached or is independent commonly performs an audit, which is evaluating a companies financial statements, product, accounting systems, and records. The main purpose of an audit is to make sure that the financial statements have been properly prepared according to the excepted accounting rules. Keep in mind; since accounting is not a precise science it has room for interpretation according to the GAPP. (more…)