Kenneth Boyd's Blog, page 22

What To Consider When Choosing a Design and Construction Company

The process of choosing and settling on an ideal design and construction company is crucial, and it may take some time because no one wants a building or something substandard. Therefore, it would be best to consider several factors before settling on a suitable design and construction company.

Experience

First, you need to look into how many years a design and construction company has been in existence. The number of years a company has been functional since the establishment may not be enough, so you need to check whether the professionals who head and work in the company have relevant experience. It takes qualified and experienced professionals to design and have a building task complete with little to no mistakes.

 

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Previous Projects

You can always tell more about a design and construction company through their previous interactions, works and projects. Check the website to see the past companies or individuals the company has worked with and the online reviews. You can always find reviews concerning a company’s work online.

You have to look through most of those reviews and decide whether you are ready to work with a company. Also, remember to look through award-winning design and construction companies like Medifit because only the best get recognized and awarded.

Engage With a Company’s Past Clients

It is advisable to interact with past clients if you know some of them or have a way to contact previous design and construction company clients. They will give you insights into the work ethic, management, level of experience, pros and cons of a company. In addition, it would help if you had an idea of all the stated factors before settling on a company.

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Reliability

The ideal design and construction company should be reliable in getting all the designs right based on what you want. In addition, a suitable company needs to be reliable in completing the project within the set timelines and communicating earlier in case of any delays. Finally, the company should also be keen enough to stick to the set budget because you want to manage your finances by sticking within the set budget.

Communication is vital when there is an ongoing design and construction project. Be sure to check the communication pattern of the company you decide to choose in the initial days.

Proper Management

Proper management is critical when looking for a design and construction company. Excellent management or leadership is the only thing that propels a project and ensures that everything is done as per your requirements. In addition, proper management will ensure that the project is done within the set timelines and with no mistakes.

The Project Team

These individuals are directly involved in the whole design and construction activities—people with whom you will probably be interacting and communicating daily. You will rely on these people to give you regular updates on a project and inform you whether the project is going on as planned.

It would help if you interacted with the team beforehand to see their work relationship. There has to be teamwork and a great team relationship for a project to work out as planned. All of the experiences on matters of design and construction are essential.

Choose the best design and construction company for your project to turn out as planned.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

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Three Most Convenient Mode of Transport for Long-Haul Travelers

From ferries, trains, and airplanes, there are plenty of ways to get from point A to point B. Each one comes with unique features and experiences and also some drawbacks.

In Singapore, leading transport operator SMRT takes pride in its world-class railway system. It is also hailed as the most affordable, sustainable, efficient, and convenient metro rail system around the world. SMRT CEO, Neo Kian Hong, has made a lot of notable contributions to its operations and employee management practices since he assumed a position in the company.

In this article, we’re going to explore the best modes of transport for long-haul travelers, looking for a quick, convenient, and comfortable traveling experience.

Traveling by train

Trains are one of the most limited modes of transportation since they require a railway structure to operate and can only run on tracks. Still, rail travel isn’t only easier and more efficient, but it’s also an incredible alternative for fearful fliers and those who aren’t comfortable driving far distances.

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Trains used to be one of the slowest types of transportation, just like traveling by boat. But thanks to technology, train manufacturers have introduced remarkable innovations in rail travel. Today, high-speed trains operate along conventional tracks and are the top choice for travelers looking for affordability, comfort, speed, and tranquility.

Trains come in different shapes and sizes, depending on your country of destination. Some of the countries with the best rail systems in the world include Hong Kong, London, Tokyo, Moscow, South Korea, Singapore, and France.

For long-distance travelers, trains are the most reliable mode of transport if you want to enjoy the rural scene while traveling in comfort. Trains also have stations or terminals, which means you’ll know exactly where and when to get off.

Since they run on tracks, railway travel allows you to bypass traffic, which makes it the fastest form of ground transport. Also, they run on a timely schedule with fewer stops along the way. Trains made for long-haul rides have bathrooms and a dining area included.

Using an Airplane

Moving across countries is faster and convenient when traveling by plane. It can literally transport travelers to various parts of the world by flying by air. Planes can get you places, whether across states, countries, or even waters. The only drawback is it is one of the most expensive modes of transport. But with practice, you’ll eventually discover ways to save for a plane ticket. You’ll get better at finding cheap, off-season flights, discounts, and promos.

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Traveling by plane is the fastest and most comfortable method to get across countries. In fact, it can turn a 12-hour bus ride into a one-hour trip! Everything is all set for travelers since it comes with distinct, reliable, and easily trackable flight schedules. The best part is air travel offers hospitality services for its passengers offered by flight attendants, who are responsible for attending to the comfort and safety needs of passengers during the rest of the flight.

Air travel is suitable for busy travelers who don’t have time to spend on long road trips. It is ideal for a range of lifestyles, especially those who only have a week or a weekend to travel. You can pick from four flight classes: economy, premium economy, business, and first-class — with economy being the cheapest option. First-class fliers have access to the best seats and receive several benefits even before the flight.

Considering travel by boat

While we’ve heard of nightmare ferry rides that were filthy and overpopulated, there are also luxury boats and cruise ships that offer a comfortable and fancy travel experience. Boats have a limited scope since they only travel by water. But they still make a feasible option for cheap travel if your destination is just a river, lake, or an ocean away.

Transport costs vary depending on the type, size, and how luxurious you prefer your travel to be. These include ferries, cruise ships, ocean liners, small boat tours, and cruising on small craft. If you have the luxury to enjoy a long vacation, boating is a great option if you want to get a unique and breathtaking view of the city.

Boat traveling is more common in European countries that offer ferry rides to get around nearby countries, giving you a unique and interesting alternative to plane travel. So if the country you’re visiting is surrounded mainly by water, you may want to try a boat tour to savor your journey.

Exploring different transport modes is a fun and exciting way to explore new things about your destination. It’s also a great opportunity to change your travel habits from time to time. In the end, the right travel option for you depends on your personal preferences, the country you’re in, and the type of experience you’re looking for.

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

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Turning Health Into a Profession: How to Start Your Career Journey

Nearly everything you are passionate about can turn into a career. Sometimes, a job won’t be worth doing without if you do not love it. In the past, people believed that a high-paying income and compensation package was enough to keep them motivated and engaged at work. However, there are plenty of signs pointing towards employees seeking satisfaction and passion in their respective careers, which takes up nearly half their lives. If you are going to do something, why not something you love?

 

As a result, people follow their dreams, leave behind their current jobs, and step into an uncertain journey led by their passion. Most decide to pursue their hobbies like photography, education, or sports. However, there is a significant portion that wants to pursue career paths involving health. The health and wellness industry is one of the most in-demand and vital sectors, which means the people that follow their hearts to it might be going into a promising and profitable profession. Here are a few areas where your passion for health can take you.

 

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Fitness Industry

 

Fitness is an essential part of the health industry. Its role is at the initial stage, preventing people from needing to visit medical establishments. Every person needs to keep an active and healthy shape. Unfortunately, not everyone’s schedule can make way for exercises and fitness routines.

Those who have the time might not be experts, making them commit mistakes that might lead to short-term and long-term injuries. If they don’t know what they are doing, they might abandon their quest to maintain a healthy physical shape. This situation is where an expert can help, influencing and supporting them to push forward.

 

The fitness industry requires teachers in the form of physical trainers. People, especially beginners, need to know how to perform the proper techniques, postures, and discipline to attain maximum results. If they see their bodies improving immediately, they have a better chance of prioritizing fitness more in their lives.

However, your journey will require you to get certifications to become a fitness instructor. Fortunately, you can accomplish a cert 3 in fitness online to start your career path.

 

Recreational Sports

 

Sometimes, people want their exercise routines to matter. It isn’t just about making the physical body or health improve. Some people exercise because they want to be good at something, and workouts are part of the progress to attain the results they want. Most people engage in fitness regimens to be better at the sport they love.

Unfortunately, they might not accomplish their goals by themselves. Specific sports require specific fitness routines, which could be your career path in the fitness industry.

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If you have a passion for a particular sport and are good at it, you can use your expertise to help others who want to improve. Coaching at a middle school, a summer program, or a neighborhood team might be your best shot. There are also a few popular tourism sports like surfing and skiing schools that pay well as teaching tourists for the experience. Recreational sports is all about having fun, making it an ideal profession for passion.

 

Medical Career

 

Health is a massive industry, and there are plenty of ways you can contribute to helping others. If you are passionate about other people staying as healthy as you, you know that the mortal enemy will always be sickness. As a result, your passion might lead you to the most vital sector of the health industry. People pursuing medical careers know the difficulty level they plan to accomplish for their respective journeys.

 

It will be years of med school, tests, mistakes, sacrifices, sleepless nights, and tears before they can become a qualified doctor or medical specialist. However, it is the cost of pursuing a passion, which might not be so bad if the result is you keeping people healthy and saving lives. The first step is identifying where you want to specialize. Turning health into a profession will make you consider a medical career before thinking of other areas. Fortunately, it is the most profitable path you can take.

 

Nutrition-Based Profession

Some people might not give a lot of meaning to the food they eat when it comes to health. As long as every meal is moderate, there might not be a problem. However, selection remains an essential factor when it comes to health. There are plenty of unhealthy snacks around the world, outnumbering the healthy ones by the hundreds.

 

People require guidance when it comes to nutrition, which is where you can help. Becoming a nutritionist requires you to seek certifications before providing service to customers. The first step will always be preventing obesity, the number one enemy of nutrition. However, there are plenty more diseases nutritionists can prevent for people.

 

Final Thoughts

Being healthy might come easy to you, but your job is not yet done. People need to help others pursue the same journey, even if your efforts only apply to your loved ones. However, you can find that turning it into a career can also be ideal and profitable.

 

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

The post Turning Health Into a Profession: How to Start Your Career Journey appeared first on Accounting Accidentally.

Sensible Approaches To Money Everyone Should Try

If you are keen to try and improve your relationship towards money, there are a lot of things that you can try in order to make that happen. The truth is that it is often very easy to do this as long as you are taking the right approach. The difficulty often lies in not knowing what that approach should be. With the right understanding, however, all can become clear, and before you know it you are in a much better financial position on the whole.

 

In this post, we are going to take a look at some of the sensible approaches towards money that everyone should try out. As long as you are giving these a go, you should find that you are much more likely to end up in a successful place, so it’s really important that you are trying them out for yourself as best as you can.

 

 

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Consider Yourself Wealthy

 

It might sound strange at first, but it is truly amazing what a difference you can make to your life by simply considering yourself wealthy and changing your mindset based on that. This is not about pretending to be something you’re not. It’s about seeing your own wealth potential for what it is, and then considering that you might be able to achieve more than you have perhaps started to believe in yourself.

 

As we go through life, we pick up all sorts of ideas about ourselves. You might have been subtly taught that you are not someone who could ever make a lot of money. You might even have a lot of shame around it, whether unconscious or conscious. All of these kinds of issues can get in the way of simply being able to make money, which – once you strip all that baggage away – is actually a very simple thing to do.

 

So, from now on, try this: consider yourself as someone who is perfectly capable, and deserving, of earning more money. Just making this important psychological change might be enough for you to start seeing things a lot differently, and before you know it, this might make an enormous difference to how you approach money in general. Everyone should consider giving this a go, as so many people are struggling in this kind of way with their approach to money. It’s a simple fix, but you might need to persist before you believe yourself.

 

 

 

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Have Fun With It

 

It can also be all too easy to forget that money can be fun. Because it causes you stress so often, you might struggle to remember that money should also be a joy, and one that you can use to make your life and the lives of others more joyous too. By allowing yourself to have a little more fun with it, you are going to open yourself up to greater and greater possibilities along the way, so this is something that you should definitely bear in mind.

 

How do you have fun with it? One way is to put aside a fund each month that you allow yourself to spend on whatever you want, even if it is something frivolous or risky. As long as you are working within that budget, it doesn’t matter. You could spend it on NFL consensus bets, for instance, or on an amazing meal at a fancy restaurant. Just do whatever it is that you personally can have fun with. You might be amazed at what a difference this makes to your experience of money on the whole.

 

The more fun you allow yourself to have, the easier money gets in so many ways, so this really is something you’ll want to try and allow yourself to do.

 

Try Many Income Streams

 

You never really know what kind of income stream is likely to work for you until you have tried out at least a few, so this is something that you are certainly going to want to think about. Trying out many income streams can be enjoyable too, and it can be the kind of thing that is really going to help you to understand better what you personally want to get out of your money, and what you can do to enjoy making more of it.

 

There are so many things you can try, whether they are job changes, business ideas or side hustles. The point is to follow your nose and see where it takes you. You might be amazed at the results if you do so.

 

As with income streams, you should also give yourself the chance to try out different forms of budgeting too. There is not simply one good way to budget – there are several, and you should make sure that you are doing all you can to try out as many as possible. You’ll be much more likely to luck onto one that makes sense for you and works for you this way, and you might be amazed at how much it can really help you in bringing your money together in a more interesting and useful way. All in all, budgeting in different ways will help you to teach yourself how to be sensible with your money in just the right way. That is a really useful and important thing to bear in mind as you try to work out money for yourself a lot more effectively in general.

 

Consider Giving

 

Finally, remember to give away something that you can afford every now and then. There are many good reasons to give money to those who are needy. For one thing, it means that you are much more likely to appreciate its value more, and you will also find that it helps in keeping you sane and happy too. There is a joy in giving that is unlike anything else. It’s something that you are going to want to think about as you try to improve your relationship to money on the whole. It might turn out to be one of the most important things of all.

Consult with a financial advisor on all personal finance matters.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

 

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4 Accounting Mistakes Entrepreneurs Should Avoid

Accounting is a vital part of every business endeavor, and it is not as easy as you might think. While most businesses believe that they will be saving money by doing their own accounting, it is not a good idea. Note that accounting mistakes can cost your company a fortune.

 

So, you don’t want to mess with the digits since it can obstruct your business’s growth. And due to a lack of proper accounting procedures, small businesses are bound to make many accounting mistakes.

 

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The following are some common mistakes that you must avoid:

Handling everything on your own

Most passionate business owners have a habit of handling everything independently, thinking that it will save them money. However, handling numerous tasks simultaneously is not the best idea as it can do more harm than good to your business. It is, therefore, better to delegate the tasks to professionals.

Having an expert handle your accounting will save you energy and time so that you can shift your focus to something that matters more. Besides, if you are an excellent accountant, why don’t you delegate other tasks in the organization and focus on bookkeeping alone?

On the other hand, you must hire a criminal lawyer to help your business stay on top of all legal charges. Consult with an experienced attorney regarding all legal matters.

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Mixing business finances with personal finances

Combining your finances is an easy way to mess up your business finances. So, the best thing to do when opening a business is to open a separate business account. Also, it will be best to run all the expenses and income through the business bank account.

In addition, you might have to pay for some business expenses from your pocket, and in that case, it is good to have a record. Remember that those are tax deductions, and you cannot deduct if there is no record.

Consult with an experienced CPA regarding your personal and business tax returns.

Not backing up company data

Backing up your file must be your priority because every transaction your business makes is crucial. There have been many instances where equipment is stolen, computers crash, and you could lose your company data.

So, by backing up your files, you will ensure that your data is safe and accessible for many years. While many online services can help you backup your files, it is advisable to use cloud accounting software to create a backup via its cloud services automatically.

Not differentiating cash flow and proceeds

These two terms are completely different. A business’s proceeds are what remains from the revenue after you deduct all the company’s expenses. While on the other hand, its cash flow is that money that flows in and out of the company from investments, fiscal activities, and other business operations.

It is very easy to go bankrupt. Let’s say you purchase an item for a hundred dollars and sell it for two hundred. You will have made a profit of a hundred dollars, but the customer cannot complete the payment on time. What about the bill you have to pay at that time?

You don’t have the cash despite the profit you just made. Therefore, it is vital to keep track of what you are selling and spending. Review your financial statements every month to clearly understand the precise business situation.

Final Thoughts

As an entrepreneur, there are many things you have to do other than accounting. You launched your business to make a living. So accounting is typically a part of it and should be perceived as an investment. It is crucial to understand the importance of accounting and avoid these mistakes.

 

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

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4 Areas Where Digital Meets Lifestyle

People build their respective lifestyles. Their interests, hobbies, and choices will always allow them to pave the path they want for themselves. They will endure any challenge, roadblock, or sacrifice to perform the things they love. However, it doesn’t mean they can’t make the processes easier for themselves. This situation is where technology becomes part of a lifestyle. Many advancements allow us to perform the things we want without the inconveniences or hurdles in the past.

 

For example, drawing requires many art materials and supplies, requiring multiple trips to the crafts store. However, technology created programs for artists to save up on resources while still maintaining creativity. Innovation influences everything we do in life to the point that it is inevitable in most of our routines. These lifestyle aspects, in particular, benefited significantly from the arrival of digital technology.

 

Gaming

Technology is a benefit for plenty of things in life. Everything significantly changed, especially in how we perform them. However, the result usually stays the same. Technology improves the process, not the destination. You can say that for all technological advancements, except for one area.

 

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Technology changes perception, which could affect how people approach a certain product or life aspect. In the past, kids think of gaming as a physical activity before the internet. Popular games, particularly in Asia, used to be on the street and with a couple of friends. The park or playground is full of children looking to entertain themselves.

 

In modern times, computers and gaming consoles allow us to avoid leaving the room to play. Mobile gaming apps also give us entertainment, changing the way we perceive gaming as a whole. Children and adults alike enjoy games with digital technology, even creating a massive community out of it. However, it doesn’t mean that childhood games performed in a physical environment are truly out of a person’s lifestyle. A healthy dose of both is possible, but no one can deny how gaming changed after digital influence.

 

Communication

Communication remains the most important aspect of life that received a significant boost from digital technology. People need the internet or the mobile phone to talk with their loved ones. The revolutionary advancements made for communications, however, did not stop with access. As you will find it life, there are many categories to communicating with other people. There is socialization, dating, work, gaming, and many more.

 

As technology continues to progress, more digital and mobile communication apps specialize in those different categories. Employees can now talk in secure and private channels with the help of business communication programs. Finding your life partner is now more accessible through dating apps.

 

Social media remains one of the strongest platforms to help connect loved ones, with over half the world creating accounts in those areas. Communication will always be essential to a lifestyle, ensuring that innovation will always be present in those areas.

 

Dining

Dining feels like a traditional process that would never be possible to turn digital. Food should consist of materials and ingredients we can touch in real life, which is the destination. However, it doesn’t mean we can’t add digital features in the process. Delivery services are available through mobile apps, with restaurants and fast-food chains diving into the online world. However, grocery remains something people accomplish in real life.

 

While it might be better to see ingredients in person, the pandemic made it risky for people to visit grocery stores. Fortunately, delivery services evolved to make shopping for ingredients work. It is an advancement born out of necessity, which means there is still room for innovation in those areas.

 

Shopping

Delivery services opened a path that made digital processes more attractive to people’s lifestyles, with none holding more influence than delivery services. However, there is a precursor to those in the form of digital marketplaces. Businesses recognize convenience as among the most differentiating factor for purchases, with people getting everything they need with a click of a button from their homes. As a result, digital marketplaces became the best areas for customer purchases.

 

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Companies copy that tactic and put up online stores where shoppers can exclusively browse items through their websites. The tactic removes clutter that might take away people’s attention from your valuable products. You can buy a Kate Spade bag from an online store with ease because of digital technology. The convenience makes it a valuable digital advancement to integrate with your shopping lifestyle.

 

Your lifestyle will continue to evolve as digital technology evolves and progresses. We haven’t even talked about the game-changing benefits technology created for career and work. However, it doesn’t have to change how you perform your hobbies, activities, and decisions. They are merely tools to make things easier or faster for you.

 

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

 

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4 Factors to Consider When Choosing Your Child’s School

Some parents might feel like they did something wrong when their children head off to wayward paths, and on a certain level, they could be right. They might feel this way because they were the ones who chose the environment where their kids grew up, so they might have influenced those behaviors indirectly.

 

Of course, there are many things beyond their reach, especially since they’re not with their children at all times. However, suppose the parents thought about where they’ll be sending their kids to receive their education. Their fates might have played out differently. To avoid all those problems later on, here are four factors that you should consider when choosing your child’s school:

 

Factor #1: Quality of Education

 

Although all schools have curricula mandated by the state or governing body, there is still a big difference in how their students receive their education.

 

But of course, this still depends on the student and whether they’re teachable. If they’re determined to succeed, then they’ll use all the resources available to them to make that possible. That said, it wouldn’t hurt to pick a school that offers high-quality education to your child to help them hone their potential.

 

If you want your child to receive a specific form of education, you can research which schools in your area are offering it. An example is if you want your child to enter an international school with a British curriculum. If this is the case, then you should devote some time to scouting the schools within the vicinity of your home.

 

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Factor #2: Accessibility

 

It’s not unusual for kids to travel on school buses, be driven with a car, or commute to get to school. But if your kid has to travel to a school that’s an hour away every single day, then you might want to reconsider your option. Of course, you should prioritize the quality of your child’s education, but it shouldn’t come at the cost of their health and safety.

 

However, you shouldn’t base the decision to send your child to school just because it’s the closest one in proximity to your home. Instead, you should use the accessibility of the school as a factor that you’ll consider when making your decision. This way, you’ll know that you have made an informed decision.

 

Factor #3: Tuition Fee

 

In the grand scheme of things, money shouldn’t be an aspect factored in when deciding where your child should receive their education. But because education is a privilege that not everyone has, it might bode well for you to consider how much money you’re willing to spend on your child’s education.

 

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Most public schools don’t charge tuition fees, and they don’t often require school uniforms. On the other hand, private schools charge tuition fees because they don’t receive government funding. There’s also the cost of school uniforms, textbooks, supplies, sports, field trips, and various miscellaneous fees.

 

Factor #4: Diversity and Inclusion

 

When choosing your child’s school, the last factor you must consider is the environment, wherein diversity and inclusion play significant roles. This is because the people in the school setting will indirectly affect the growth and development of your child, which is why it’s essential to look into it as well.

 

For instance, while most private schools are limited to a few specific races, public schools are more culturally diverse for students and teachers. This can be because public schools are more accessible to low-income households and underprivileged communities. In contrast, private schools tend to be closed off to the middle and upper class.

Being exposed to a diverse and inclusive environment is essential to your child’s growth. This environment allows them to be more sensitive, empathetic, and culturally aware of people’s differences. Plus, it gives them the chance to grow more holistically because they meet people from all walks of life.

 

If you truly want your child to receive the best education, considering all these factors is crucial to their future success. This is because the environment they grow up in and learn from will mold their personality, which means that you’re in charge of determining how their future will look like.

 

Of course, the kind of school they receive their education from wouldn’t be the sole determinant of the path their life will take. Still, it can impact their ability to make decisions. After all, they’ll grow up surrounded by the people from their school. So it only makes sense that they’ll have similar traits, worldviews, and perspectives in life.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

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4 Compelling Reasons To Get Business Insurance Today

From covering costs associated with damages to protecting your property from liability claims, there are many reasons you need business insurance. Although about 31.7 million small business owners have seen the advantages of insurance to their business, many are still reluctant to explore the many benefits awaiting them. So, are you unsure of why your business needs insurance? Here are four compelling reasons to get business insurance today.

 

Consult with a licensed insurance agent before purchasing insurance.

#1. Improve your business credibility

Business insurance offers more than just protecting your business. It makes your customers and contractors feel safe dealing with you, as it shows them that you take risk management seriously. This, in turn, enhances your brand credibility.

 

It shows to persons that come in contact with your business that you offer the right protection in the event of an accident. Customers and suppliers will be more open to doing business with you when they know you’ll have a way to compensate them when something goes wrong.

 

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#2. Business insurance may be required by law

It is a requirement in many states to have small business insurance. However, if it isn’t a requirement in your state, there is no excuse to treat it as an afterthought or unnecessary cost. Without business insurance, your business may suffer financial losses when a client, employee, or other persons in contact with your business, sues you for injuries on your business premises, damages to your inventory, fire outbreak, or flooding.

 

These are typical instances if you are wondering why to get renters insurance. Renters insurance covers your business from damages and claims related to your property in cases where your company is merely renting the space it uses.

#3. Provide stability for your staff

For a small business owner, your employees are one of your essential assets, and you need to prioritize them. It is a smart move to protect your staff with liability insurance. They won’t only feel more secure working with you but can be useful in protecting them against employment loss in the event of a lawsuit.

 

You should also consider how beneficial insurance can help secure the best talents. Insurance can be a job perk when you provide dental or health insurance. This won’t only expand your working team but encourage them to work harder.

#4. Protect your customers

Business insurance can cover your clients if you have a business owner’s policy. This insurance policy combines business property and liability coverage to secure your business against personal and advertising injury, property damage, bodily injury, and product liability.

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For example, your business owner’s policy can cover their medical expenses should a customer slip and break a leg while on your property. With the increase in cyber security risks, getting data breach insurance is useful to protect both customers and clients if there is a security breach. Data breach insurance will pay for your legal fees, public relations, and identity protection solutions.

Whether compulsory or otherwise, business insurance is vital for protecting your investment. A small business faces many risks, and you’re better off insured than otherwise.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

 

 

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How You Can Save Money and Improve Cash Flow As A Small Business

The number one reason most small businesses fail is due to cash flow issues. With over 50% of small businesses closing within the first five years of trading, this isn’t a minor issue, far from it.

 

Sadly, you cannot always control your cash flow; maybe you have a bad debtor, or clients are late on their invoices, or you have unexpected expenses. If your small business is heading towards a problem with its cash flow, then looking at how you can maximize your funds can help you avoid major disasters and implement ways to preserve funds.

 

Ask for upfront payment

 

In the early days, especially, it can be beneficial to request payment upfront from clients to remove the risk of non-payment, Either part or in full; this can help you have some cash coming into the company while the work is being done.

 

Legitimate clients will only be too happy to accommodate this request. At the same time, some people might be hesitant to pay in total upfront. Especially if this is your first time working together, offering discounts, putting the money into an escrow account or splitting the bill into smaller payments as work is done can help reduce the risk on both sides.

 

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Move toward a paperless system

 

Did you know that for every $1 spent on printing, $6 is spent on distribution? Going digital and removing physical paperwork and filing systems from your business can save you money, time and space, thus further cutting costs and helping to budget your money more efficiently.

 

It’s not just paper you save on; you can eliminate the need for stationery, cabin tents, printers, ink, and so much more.

 

Become self sufficient

 

The more you can do yourself, the less you need to pay out to do. It pays to teach yourself some new skills when running a small business. Especially smaller jobs that you can easily pick up.

 

Factory Jeep service manuals can help you out with minor car repairs to keep your vehicle on the road. Learning how to effectively implement digital marketing and networking can boost your profits and visibility.

 

Of course, your time and skills aren’t never-ending, so try not to bite off more than you can chew, but learning new skills and teaching yourself how to do different things can help you to save money without cutting corners.

 

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Automate every routine business task

 

Automation in business has been around for a long time now. However, more tools are coming to the market that can help you automate parts of your business, thus freeing up your time and focusing your energy on other areas, such as bringing in new business.

 

Look for applications that can improve workflows and are beneficial to your niche for maximum impact.

 

At a minimum, you should be automating;

 

Customer ServiceEngagementLeadsSalesSocial MediaEmails

 

While money-saving tactics can vary from one business to the next, it is worth looking at your business to see how you can save money and improve your cash flow and avoid becoming one of the 82% of small businesses that fail due to cash flow issues.

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

The post How You Can Save Money and Improve Cash Flow As A Small Business appeared first on Accounting Accidentally.

How to Balance the Books After a Divorce

If you’ve tried to save your marriage, but it is no longer realistic, it might be better to consider a divorce, on the other hand, the decision might be simple and easy; either way, you don’t want a messy divorce that lands you in bad debt, make sure it’s orderly and sets you up for the future.

 

Consult with an experienced attorney regarding all legal issues.

 

Reach an agreement on bills 

 

If you’ve decided to go your separate ways after a marriage, divorce is inevitable at some point, but the energy companies and the local authorities aren’t really interested in who did what; they have their own books to balance. Try to be mindful of this and ensure that your bills are paid.

 

Things might be a little more complicated, based on how amicable you are and who is staying in the property, but if you have responsibility for the property and don’t live there is still worth talking about your financial responsibilities as it could lead to bad debt and bad credit in future.

 

 

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Decide who stays and who leaves 

 

Although it’s not an easy decision, it is a necessary one. After you have decided to part ways and move towards divorce, one of you has to leave the property and set up somewhere else; it’s the best way to start the healing process and to get your finances back to full health.

 

If the marital home is special to both of you, another option is to sell it and move out completely. In many ways, this is the best option because it creates closure for your relationship and protects you both from any financial hardships, but this might be difficult if children are involved.

 

Close joint bank accounts 

 

Needless to say, the joint bank account you have with your ex-partner needs to be closed and your funds transferred into a new account that only you have access to. Chances are, the funds in your joint account were for household expenses, so now, they can give your new life a boost.

 

Closing joint bank accounts should be one of the first actions you carry out following the decisions to separate and move towards divorce. It accomplishes two things, firstly, it prevents any fraudulent withdrawals, and secondly, it provides some additional funds to help move on.

 

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Use an experienced divorce attorney

 

If you don’t have any children, the process of getting a divorce is relatively straightforward; of course, you still have to consult a divorce attorney and wait for the legal wheels to slowly turn, but it’s significantly easier than deciding which of you has full or partial custody.

 

A Divorce Attorney such as Hampton and Pigott can help you with every aspect of your divorce, from organizing the financial agreements and mortgage to building a custody case in your favor. When it comes to handling divorce well and getting what you deserve, there’s no room for error.

 

Start again from scratch 

 

The phrase “starting from scratch” has negative connotations, but if you look at it from a different point of view, it means “possibility.” Starting from scratch is your chance to redefine your life and who you want to be in the wake of a divorce – think optimistically and get creative.

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) http://www.accountingaccidentally.com/

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