Business Solutions

Accounting is a vast topic area and covers many sub-topics. Choosing an appropriate dissertation topic can be overwhelming and complicated. Research topic in accounting and finance typically relate to fundamental topics in accounting as well as statements that can be challenged and present research scope in accounting. It is also a rewarding activity if we have a broad idea of the scope of research in accounting that we are willing to pursue.

1.      Choose Research Topic Carefully

Write a list of topics that you studied throughout your program and from that list pick out at least five main topics that interest you the most. For example, if you specialized in nonprofit finance, you can create a unique dissertation topic based on this subject. In your final year paper, you are to come up with new ideas. It is also good to read additional accounting books as well as the required textbooks because your thesis is like the first few chapters of a book and you want to be well research in your topic. You can get help from your paper advisor you should still do a majority of planning yourself. You can also use online sources to choose your accounting and finance dissertation topics.

2.      Project Proposal

Finally, you would prepare the essay proposal to present to the committee. It covers the main idea of your research, but it’s equally as important as your dissertation because proposal is the point when you’ll think of significant questions and you’ll set up a plan for assembling information and writing a paper. It contains a clear and precise description of the problem. Within this explanation, you will need to define what your proposal is about and which specific issues you will address. Another way to ensuring these criteria are met to make sure you answer these questions:

• What is your research about?
• What question does it seek to answer
• What do you hope to communicate?

Once you’ve selected your topic, you’re then ready to write a project proposal. By demonstrating how your research area is relevant, your introduction, methodology, and literature review will become easy to tackle.

3.      Imperative Research

Research is one of the essential parts of your final paper. Do as much research as possible. Write down the names of sources where you find authentic and informative content related to your topic.

4.      Write as you go

When you are ready to begin writing, set a suitable target. For example, 2,000 words each week as this can be both productive and motivating. Your writing helps you to make better sense of the topic, as you try to develop the narrative, you’ll understand it more, your interpretation, and analysis will change.

5.      Proofread and Edit Dissertation

Now you’ve completed the first draft of the project. You can relax. Don’t even start proofreading as you finish writing the last sentence. Make sure to leave at least two to three days between writing and editing. When you come back to it, you’ll able to notice more flaws.

Start Editing

There is a considerable difference between proofreading and editing. Editing is focused on the essence and proofreading is focused on the form of paper. You need to deal with the editing first. Pay attention to the connection between arguments. Check gaps between the information. Fill these gaps with more detailed information you collected through research.

Proofreading

Finally, it’s time to give the final check and catch all the grammar, spelling and style errors. Read every single word, sentence, and consult a dictionary if you find any doubt.

6.      Get Feedback

Before submitting your dissertation to the committee, you need to get some feedback. Start with a colleague and friend who has knowledge in this discipline. Then discuss it with your advisor. He will point out any possible weak points to make your work error free.

 

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In this era, wherein technology is one of the means to shape the success of businesses ranging from small scale to large scale businesses. It is a fact that a simple but yet effective way to conduct an efficient business is to minimize its workforce labor but simultaneously track and foresight every transaction happening within. Can you even imagine how your business can strive to greatness without doing every detail manually? Assets, liabilities, and revenues – the foundation of business all processed into one software, easily track and manage. One technology that relieves you from a lot of stress from computing and analyzing a bunch of paper works and workload.

This article will show you insights on how companies made use of accounting software to run their business and pave its way to riches.

1. ACCOUNTING SOFTWARE CAN SAVE YOU A LOT OF TIME. Accounting software makes every business transaction easy and concise. But first, you have to find what accounting software is the best fit for your business. Finding the right accounting software is within your grasp. All you have to do is to choose it wisely.

Using this software will help you automize the work that you usually do manually and save you a lot of time, effort and stress. It will help you meet deadlines, easily summarize your invoices and also brings more efficiency to a workflow.

INVOICES.

Invoice is the detailed list of goods and services the company renders. All costs, shipments, amount and number of purchases are put into invoices. These are bill and receipt of payment.

Companies exploit the functions of accounting software to their gain.  Since all inputs of the company will go directly to a data warehouse where it is easily accessible and precisely accurate. There will no longer need for a 200-page ledger.

You can put all the information on transactions in an invoice and organize every detail automatically. From the name of the customer, invoice number, the number of products bought, unit price, account number and storage information all in systemization. With one click the software will show you how much one buyer owes you. This system can also let you print out invoices as your copy and proof of payments.

2. EFFECTIVE TRACK SYSTEM. Do you want to know how much you earn every day with just a snap of a finger? Tired of frowning after seeing unexpected loss assets. It might be time for you to have accounting software in your business.

One of the best functions of accounting software is tracking out expenditures, loss assets, accounts receivable, accounts payable and invoices. There are two ways on how you can track this in accounting software. Accrual method and Cash basis method.  These methods are the best way for accounting software to track your accounts payable and receivable. Example, after putting all orders of your business in the dashboard (accounts payable). In due time comes the delivery, if the store clerk manages to receive it without pay, this is recorded as an accrual.  The accounting software views this as accrual accounting since it is considered an expense or revenue earned at the time of delivery. With cash-basis accounting, the software records income right after you received it (accounts receivable).

Accounting software also enables end users to automatically assess all accounts whether debit decreases or credit increases. This allows end-users to have an idea of how much the business is profiting and losing.  The track system also visualizes to you what goods or services are in peak in the current season and what products are often bought last season.

3. EASE OF ORGANIZING FINANCIAL STATEMENTS AND TAX. It can always seem complicated organizing financial statements and taxes. Since all accounting software can give you rapid reports of financial statements this is one of the best functions to consider in accounting software. There is no need to hire a couple of Accountants since having a software can be done with minimal supervision and thus minimizing your expenses for manpower. All recorded accounts of your day to day transactions and end-of-the-month or end-of-the-year reporting are already gathered and summarized into financial statements. These statements are usually presented in a business document form.

Businesses adapting to a tool/technology like this gained them massive riches. The success of big companies relies on how well they can use accounting software to their ultimate advantage.

4. PAYROLL SYSTEM. This is one of the major time-consuming aspects of having a business. You need to keep track of daily time records of your employees and how much they are earning on a weekly, monthly and yearly basis. It is more than just a payment for services rendered by employees. You also need to know the tax information and legal requirements of your people to comply and create a productive workforce. Automated payroll system under accounting software entitles managers to give employees what they need.

Here are some of the benefits of a payroll system

• Fast computations of your employee’s total salary
• Precise tax computation for their right contributions
• Automated compensations such as overtime and holiday pay can be easily commutated
• Determining the number of tardiness and their total hours’ work for the month will be much easier to track

Having accounting software in your business will do you more than just good. It is one of the steps for you to make if you want your business to skyrocket. Having this power in your business makes you more competitive in the business world. But don’t worry, you don’t have to rush. Here are some of the things to consider before buying one.

• Time-saving automation
• Fast determination of income vs. expenses
• Reliable tracking of inventory count for your ROI
• Summarizing transactions per day and creating daily reports
• Easy tracking for your re-order point

Change can be hard and scared sometimes but if it is for the better you should consider trying and going the extra mile for your business. Accounting software can be overwhelming especially to small entities but every business needs to evolve to stay in the game. And the evolution of business requires advanced technology. This is where the pillars of business must continually improve-leadership, service, quality, and accountability.

This software might be a little complicated but it is built for the understanding of the mass. It might be a little bit tricky but through the time you’ll eventually learn it and it will benefit your business to the fullest.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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A recent study found that as Singapore’s millennials plan for their financial futures, they have grave concerns about how to proceed. Researchers asked working adults between the ages of 16 and 29 about what they do now to prepare for a secure financial future and what they would like to do but have not and why not. This is what they found.

Money Is Not  a Top Motivator

Although many in the study expressed a desire to plan for their financial futures, money was not their first priority.

The study found that less than half of the respondents placed a great emphasis on owning physical property. A much higher portion, 77 percent, said it was important to find ways to give back to their communities.

Another top concern was not their own retirement, but that of their parents. They also placed a heavy emphasis on determining the environmental impact of the products they purchase.

However, although prioritizing people and the environment over money, the study found that millennials also worried about their own financial futures.

As they get more settled in their careers and lives, they may be more likely to consider contacting a professional agency, such as asset planning firm Asiaciti Trust, to help with wealth management.

Millennials Would Invest if They Only Knew How

A vast majority of Singapore’s millennials said they wanted to start investing, but did not consider themselves knowledgeable enough to take the plunge. They also expressed a desire to purchase insurance but again felt they didn’t know enough to purchase the right policies.

Clearly, a lack of confidence in their own abilities to effectively invest and choose the right insurance keeps many millennials from doing either one.

Spending and Saving

Millennials expressed a lot more confidence in their abilities to save money and manage expenses. A 67 percent majority said they have a budget and 66 percent say they managed to stick to it.

Savings plans were also popular with millennials, but 41 percent admitted they struggled sticking to those plans.

A Job Is More Than a Place to Go Everyday

When asked about employment, 83 percent of respondents stated their goal was to find a secure job with a regular income. But, a high-paying job did not make it into the top three priorities as they pursued their ideal job.

Singapore’s millennials listed these top three job qualities in order of importance:

1. Millennials said an ideal job comes with a fair work-life balance.
2. Millennials placed great emphasis on positive workplace culture.
3. Young adults in the study said they want to work at something they are passionate about.

Millennials also said it was important that employers adapt to the needs of employees.

Money was not far from their minds, however. After finding the right job with a regular income, 69 percent said their next goal was to invest for the future and purchase insurance for added security.

Personal Interests and Life Goals

Marriage and family were on the radar with millennials, but not right away. Most respondents said they would only consider marriage when they had a stable career. They also said that when they do marry, the wedding will be a small, low-cost affair.

In addition to personal life goals, the majority of millennials said their most important social concerns include reducing poverty, helping the elderly, advancing human rights and improving the environment.

The Different Millennial Personality Types

Study respondents fell into four financial personality groups. The largest group at 35 percent were strivers. Strivers expressed a need to control investments with  advancement in mind but were not sure how to start.

Approximately 23 percent of the respondents fell into the security seekers category. This group viewed financial security now and in the future desirable, but felt they needed more help when it came to basic financial planning.

Another 22 percent were social givers. Social givers placed more emphasis on helping others and social causes but said they lacked the knowledge to meet these goals.

The last and smallest group was the nonchalant personality. This group was lax about managing their personal finances and did not feel planning was a priority.  

Meeting the Financial Goals of Millennials

The study revealed a crucial fact — millennials would do more to secure their financial futures if they only knew how.

Clearly, financial education is key. Universities, financial institutions and communities need to come together to fill the knowledge void. Armed with the tools to make smart investments and sound decisions, millennials become well-equipped to take Singapore into the future.  

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Startup businesses have dominated the headlines for a while now. Some newer companies have big ideas and promise their investors big things that they never make good on. Other firms have overwhelmingly successful funding campaigns on sites like Kickstarter and Patreon. A few even actually ship the product or service they said they’d make.

If you’re trying to secure money for your startup business, then you more than likely have some pretty big dreams. While it’s great to have your head in the clouds, you’ll want to focus on making sure that all of your goals are achievable. Start small and don’t feel discouraged if you don’t immediately get the kind of funding you were looking for. Investors are often wary of putting their money into a new project until they see at least something in the way of results.

Take a moment to make a chart of what things your business has to buy to actually succeed versus what you can live without at first. You’ll then want to review the following list of financial Dos and Dont’s to ensure that you’re on the right track:

The Dos of Securing Money for a Startup Business

• Do apply for a loan even if you think your credit score is bad. You may still qualify for unsecured loans with bad credit, and this can infuse much needed capital into your young venture. As your company grows, you may be able to refinance any debt your incur at a more attractive rate.
• Do write down funding goals that are measurable. There’s no need to keep raising money well after you have enough funds. In fact, you may be required to return any unnecessary funds to your backers!
• Do make sure to leverage social networking to find investors or donors. While you may already have a number of social accounts, you’ll want to create separate ones that are dedicated solely to your business.
• Do come up with some creative fundraising ideas that can help you stand out from the pack when it comes to asking for donations. More organizations are begging for money today than at any other point in history, so you’ll need to do something that will catch the public’s attention. Don’t be afraid to try something unusual.
• Do offer something special to those who back you on Kickstarter, Patreon or whatever other crowdfunding platform you use. This will help to convert potential customers into early donors.
• Do as much of the work yourself as possible. If you don’t have to hire that many additional people, then you won’t run into budget problems early. While you don’t want to run yourself ragged trying to get everything done, entrepreneurs are expected to do their part to ensure the success of their operations.

Financial Don’ts for Startup Owners

• Don’t raise money on a crowdfunding platform and then have nothing to show for it. Several high-profile Kickstarter campaigns never made it to completion in spite of the fact that they were able to raise more than enough money. This kind of thing could potentially hurt confidence in your company’s ability to bring a product to market.
• Don’t try to rush things to completion with the hopes of wowing investors. Most backers would prefer to wait a little while for a completed product that works well.
• Don’t expect angel investors to come to your company’s rescue. Have a plan in place for raising money from the start. While there certainly are some wealthy individuals who try to back as many small projects as possible, qualifying for this kind of grant is a long-shot.
• Don’t forget to factor in your living expenses into how much money you need. If you’re giving up everything to finally start your own small business, then you’ll still need some way to support yourself. You’ll have to pay for clothing, food and housing just like you would if you were working at a traditional job.
• Don’t forget about the bootstrapping process. This refers to scraping to as much money as you possibly can from your own savings and credit accounts. While you don’t necessarily want to max out as many credit cards as possible, they can help you to make important early purchases when you’re just starting out.
• Don’t apply for venture capital too quickly. Most venture capitalists require you to have an airtight business plan and will want a fairly high ROI, so they’re often not an option for those who aren’t entirely sure how their company will function.
• Don’t neglect your business plan, even if you’re not applying for this kind of money. You want to be sure that you have at least something of an idea of how you’ll make money in the future.

The Most Important Thing to Remember When Starting a Business

Perhaps the single most important piece of advice is to never give up. Things are going to get pretty hairy. Sometimes it’ll look like you’ll never be able to raise enough money to get your company going. This is normal, so you shouldn’t get discouraged. Don’t give up your dreams and you’ll experience success sooner than you thought possible.

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