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Janny wrote a new post, The Unexpected Truth About Microsoft, on the site Janny the economics student 24 minutes ago
A Chinese anti-trust regulator said on Monday it’s allowed Microsoft Corp 20 days to answer to queries on the compatibility of its Windows operating system and Office software suite into the world’s largest […]
Tom Brown wrote a new post, Can You Really Afford to Buy a Home?, on the site Global Finance News 3 hours, 16 minutes ago
Budgeting to buy a home is a complex web of decisions, numbers and risk; of interest rate predictions; of going without holidays and home comforts as you save up for a deposit, and weighing up what surveys and […]
Terrence Stoker wrote a new post, Avoiding disasters in your personal finances, on the site Money Think 7 hours, 35 minutes ago
When it comes to managing personal finances, not everyone can be the poster child of self-discipline. While some spend the last week of every month counting their small change and eating instant noodles, others are committed to maintaining a constant pennywise approach to their funds. Even so, sticking to a personal budget doesn’t mean you’ll never find yourself in a financial pickle.
Even with diligent saving, some financial pitfalls are completely beyond our control and almost impossible to recover from without aid.
Don’t let poor health or medical disasters ruin you finacially
Health problems or emergencies that require surgery, for example, can leave their victims with major debt. This is not only due to the expense of treatment, but also a potential lack of income during an extensive recovery. You might shy away from medical aid due to the monthly expense, but a regular payment you can budget for is a minor inconvenience compared to the cost of unforeseen hospitalisation.
While medical aid schemes allow access to otherwise unattainable care, we are all mortal beings. As if the tragedy of death is not enough of a burden, the victim of a fatal accident or ill health may leave their family in financial turmoil. Regardless of the whether or not medical care is paid for, the loss of funds a household suffers when an income is lost can even mean losing their home. This is where life cover comes into play.
As with medical aid, the monthly expense of life cover might seem unnecessary right now. Compared to the devastation of losing a loved one and your financial stability at the same time, however, the cost is minimal.
Preparing for the worst in an uncertain job market
Even the superbly healthy are not safe from a financial disaster. In the current economic climate, employment is never a complete certainty. If you are retrenched and managed to negotiate a decent severance package, be careful of continuing your normal spending habits. Rather minimise outlay until you are certain of alternative employment.
Besides the loss of your health or you employment there are so many avoidable risks to your financial security. Losing your house in a fire or even your car in a burglary can mean irrevocable expenses or a complete drain of your available funds.
Insuring necessities like you home, car and any equipment you need to make a living is absolutely crucial. Regardless of how good or bad you are with money, ignoring the importance of protecting yourself from financial disaster means you’ll inevitably experience an unforeseen fall-back.
Preparing for the worst might be a grim thought, but it could also be the biggest favour you ever do for your future self.
constantitempurchasingpoweraccounting wrote a new post, Two of the three parts of the post-HC economy would be stable in real value, on the site Capital Maintenance in Units of Constant Purchasing Power™ 11 hours, 34 minutes ago
Two of the three parts of the post-HC economy would be stable in real value
The economy consists of economic entities and economic items. There are three fundamentally different economic items in the […]
constantitempurchasingpoweraccounting wrote a new post, The post-Historical Cost economy, on the site Capital Maintenance in Units of Constant Purchasing Power™ 1 day, 19 hours ago
The post-Historical Cost economy
The post-HC economy would be an economy in which the stable measuring unit assumption would be replaced with the Units of Constant Purchasing Power (UCPP) paradigm. The HC paradigm would be abandoned and no-one would ever assume money is perfectly stable during low and high inflation and deflation for the purpose of valuing some (not all) items in the economy as all economists, accountants and business people do during non-hyperinflationary periods in the current HC era.
HCA would be replaced with the Capital Maintenance in Units of Constant Purchasing Power (CMUCPP) in terms of the Daily CPI model in the post-HC economy.
CMUCPP was authorized in IFRS as an alternative to HCA during all levels of inflation and deflation in the original Framework (1989), Par. 104 (a) which stated:
“Financial capital maintenance can be measured in either nominal monetary units or units of constant purchasing power.”
The above wording is maintained intact in International Financial Reporting Standards in the current Conceptual Framework (2010), Par. 4.59 (a).
The accounting model for the post-HC economy was thus authorized in 1989 in IFRS. It was also authorized in US GAAP and other national accounting standards during that time.
The following is unbelievable, but true:
The South African Institute of Chartered Accountants (SAICA) suggested in January 2014 to the International Accounting Standards Board that it should remove the capital maintenance paragraphs from the Conceptual Framework (2010). SAICA mistakenly believes that capital maintenance is only of importance during high and hyperinflation and thus made that silly and unbelievable suggestion to the IASB. I fell off my chair when I read SAICA´s suggestion to the IASB. I emailed SAICA about it to express my horror at their suggestion, but they had no real answer for me. They repeated to me what they had suggested to the IASB, but they omitted in their repetition to me the actual suggestion to remove the capital maintenance paragraphs from the Framework thus silently admitting their terrible mistake.
SAICA is clueless about the benefits of CMUCPP in terms of the Daily CPI. CMUCPP would stabilise the SA constant real value non-monetary economy over a short period of time. SAICA has no clue what this means.
SAICA is clueless about capital maintenance in units of constant purchasing power as stated in IFRS in the Framework. They don´t have the foggiest idea what it means or what it´s effect on the SA economy would be if it were to be implemented in terms of the Daily CPI: not the foggiest!!
But, they were quick to state in public on their website for everyone to read that I would insult users of financial reports prepared during low inflation (you) if I were to suggest that they inflation-index, in terms of the Daily CPI, constant real value non-monetary items like issued share capital, all other items in shareholders´ equity, provisions, all items in the profit and loss account, salaries, wages, rents, pensions, taxes, trade debtors, trade creditors, all other non-monetary debtors, all other non-monetary creditors, etc. although it was authorized in IFRS and US GAAP in 1989.
Everything on this blog is thus an insult to users of financial reports prepared during low inflation (you) as far as SAICA is concerned. You have to believe SAICA: they are the highest authority and the most respected on accounting matters in SA.
Nicolaas Smith Copyright (c) 2005-2014 Nicolaas J Smith. All rights reserved. No reproduction without permission.
Tom Brown wrote a new post, 8 Innovative Ways to Promote Your New Business, on the site Global Finance News 4 days, 1 hour ago
If you’ve recently set up a new business but are not sure how to promote it, fear not. There are many innovative ways to get your company off the ground, whether that’s through more traditional forms of marketing […]
Joys wrote a new post, The health benefits derived from masticating juicer, on the site Site For Technological Invassion 4 days, 11 hours ago
Masticating is considered to be ‘chewing’ in scientific terms and the juicer tends to work very much in similar fashion as the individual can think of the cow trying to chew the grass, grind and then crush the […]
Ryan wrote a new post, Life After Foreclosure, on the site Bloggers Central 4 days, 13 hours ago
Foreclosure is often a traumatic experience, but it doesn’t have to be the end of the world. While it is true that a foreclosure will remain on your credit report for seven years–and it can even have a negative […]
Stuart Clock wrote a new post, Pizza Delivery Master: Dominos Pizza, on the site Daily News Updates 5 days ago
There is nothing enjoyable in life than eating your favorite pizza with the discounted prize. Did you know that people saved a lot of money by using discount tickets? Restaurants tend to release many discount […]
Chris Pentago wrote a new post, Central Banks Firmly Purchasing Gold in 2014, on the site Views of an average Joe. 5 days, 9 hours ago
According to the notes of several analysts, gold purchasing by central banks continues ahead of recent 2014 averages.
According to Mathew Turner, a Macquarie Bank analyst, central banks the world over have […]
Ryan wrote a new post, What to Consider Before Buying a Franchise, on the site Bloggers Central 5 days, 18 hours ago
Operating a franchise can be a ‘safer’ way to open your own business. There is a bit more security surrounding the venture, and you are not tasked with building everything from scratch; a system has already been […]
joys joy wrote a new post, Telefonkatalogen Explains Methodologies for Targeting Specific Cultural Groups in Marketing and SEO Campaigns, on the site News 5 days, 22 hours ago
Telefonkatalogen, a successful and highly sought after marketing firm out of Norway, has a great deal of experience in targeting a very specific group of people in the course of a marketing and SEO campaign. Since […]
Harry Golden wrote a new post, Down Payment – Know How to Save Money for it, on the site Finance News & Updates 6 days, 2 hours ago
In Toronto, Canada, Vlad Mortgage prides in saying that we have facilitated a number of home owners who want answers to their down payment problems. As we all know that not every source is trusted or proves to be effective, you do not need to search for any other company as Vlad Mortgage is available at your service. With extensive experience, our experts have enough knowledge to answer any of your questions. If you have any doubt, then read this article and find answers to some of your down payment related questions.
How much down payment you will have to pay to the mortgage broker Toronto?
Usually, mortgage broker Toronto Vlad Mortgage mentions that borrowers have to pay 5 percent of the home’s total amount as down payment however, if an institution demands higher, then do not consider it wrong because it will ultimately help you and derive benefits in the required manner. Our experts will guide you how to avoid spending money on additional expenses. When a prospect contacts us and mentions that they want to purchase a property, we first ask them to evaluate their budget because it will help us to determine how much they can afford to pay as down payment. Once we have such basic information, we will start finding the most suitable property and inform you about avail deals.
Is amount of down affect the type of mortgage?
Around 25% or above down payment on the total amount will let us know that quality as well as type of conventional mortgage you can avail. Though agreeing on a down payment lower than 25% will require insurance because lenders will then know that they can get their money back from the borrower.
How to save money for down?
Vlad Mortgage knows that saving money for purchasing a home will be difficult and it becomes more daunting when you have debts to clear. But with our Toronto mortgage brokers, you will find a number of ways to save money. Some of the plans are discussed below:
Personal bank accounts
Vlad Mortgage considers it the best way to save money. You just have to fix an amount of your earning and deposit into the account regularly- in the same way as you do for paying utility bills. Also remember that you will need to present cash or cheque while paying down payment.
Registered Retirement Savings Plans (RRSPs)
It is another guaranteed way to secure your future and make yourself eligible for mortgage. RRSPs are always your ideal resources to purchase a dream property. Nowadays in Canada, government allows owners to get up to $25,000 from RRSP. This money will be entitled as loan which you need to return with fifteen years from the date of withdrawal.
Vlad Mortgage has suggestions for wealthy applicants to invest their money and get return on their investment. You will have a number of ways to make money from your excess bucks.
We believe that you will have enough knowledge to apply for mortgage. If yes, then we would like to welcome you for applying for a mortgage type according to your requirements.
DeanPapan wrote a new post, Debt vs savings, on the site All about Finance 6 days, 4 hours ago
Household debt is up 314% from last year and with household finances under pressure, I knew that it was time to look at my financial situation, including comparing my debts to my savings. I had been conditioned […]
Terrence Stoker wrote a new post, Taking those first steps into the stock market, on the site Money Think 6 days, 6 hours ago
The world’s a scary place – especially when it comes to finances.
Many of us hear about stocks and know about this entity known as the stock market: people seem to magically make money from it, without […]
Terrence Stoker wrote a new post, Cyber risks for 2014, on the site Money Think 6 days, 9 hours ago
With revelations that the American’s National Security Agency (NSA) has been spying on many people, cyber security and protection have become major concerns for the future and this year. There is a reason to be […]
constantitempurchasingpoweraccounting wrote a new post, Hayek: Stability in value would prove to be the decisive factor, on the site Capital Maintenance in Units of Constant Purchasing Power™ 1 week ago
Hayek: Stability in value would prove to be the decisive factor
On 11 August I blogged: Is Bitcoin fatally flawed? in which I stated:
“The fact that bitcoin has a fixed supply limit – 21 million – may mean […]
richardo fuse wrote a new post, Stay Wealthy by Spending Smartly – It Isn’t Just About Saving Money, on the site Richardo's financial view 1 week ago
In this consumer society, everything has been revolving around getting that paycheck and spending it on something for quite some time. Naturally, we have evolved when it comes to making money and constantly […]
Christopher Meloni wrote a new post, An Analysis on Latest Economy Updates in South Africa, on the site gcaccountants 1 week ago
South Africa is among those countries that are able to manage their financial status while staggering in amidst of the global financial breakdown. The country has managed to stay on its feet widely due to their prudent and responsible fiscal as well as monetary policies. The economic freedom score of South Africa is around 61.8 while giving its economy a gradual rise and as the country is politically stable, it has a well capitalised banking system. Along with that, the high amount of natural resources, well developed regulatory systems and the research & development capabilities as well as an established manufacturing base strongly supports the economic development of the nation.
South Africa’s transition towards a more open economic system has been facilitated by the relatively competitive trade management system. Along with the overall regulatory efficiency that has constrained due to the lack transparency, the policies for sustaining the dynamic flows of the investment are not firmly institutionalized. Thus, as a result government faces huge challenges in order to improve the effectiveness of the budget management. The country has been ranked as an “Upper Middle-Income Country”, by the World Bank and had been declared as the largest economy in Africa. This has been admitted by the BRIC (Brazil, Russia, India and China) in the year 2011.
The legal system has gained more independence even though the rule of law has been weakened and uneven as it provides a relatively effective protection of the property rights. Accompanying with the world-class as well as a progressive legal framework, the South African legislation that governs labour, commerce as well as maritime issues is particularly more strong and the laws on the competition policy, patents, copyright, trademarks as well as disputes conforms to the international norms as well as standards. The modern infrastructure usually supports the efficient distribution of goods within the whole South African region. Also the South Africa economy has a marked duality and it has been observed that the country is having a sophisticated financial as well as industrial economy that has grown alongside as an underdeveloped informal economy. This “second economy” has presented both- the potential as well as development challenge along with a slower but steady growth economically. South Africa being the National Treasury is not able to create an equitable future as it is true that development is not just about the pursuit of growth. As a result, the South African government is planning for addressing the key challenges through various economic integrations for its previously disadvantaged majority. Alongside, it has been observed rise in 2.6% GDP, which has affected the economy of the country positively. This is how there has been observed a quality growth in the economy of South Africa.
Christopher is the author of this post is a legal financial advisor and works with GC Accountants. She keeps herself always updated with the recent developments and changes in the world economy. Here she is sharing recent economy updates going in South Africa. For more information, one can visit- Gcaccountants.com.au
constantitempurchasingpoweraccounting wrote a new post, Ecuador´s (possibly [hyper]inflationary?) virtual IOU´s, on the site Capital Maintenance in Units of Constant Purchasing Power™ 1 week, 1 day ago
Ecuador´s (possibly [hyper]inflationary?) virtual IOU´s
Ecuador was reported to be studying the creation of its own virtual currency.
See: Ecuador Cryptocurrency
Now the Wall Street Journal states:
“Implying that this is a “virtual” currency is an attempt to lend Bitcoin-like cachet to what will essentially be IOUs issued by a country with a rather dodgy credit history.”Ecuador´s phony bitcoin ploy – Wall Street Journal
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