Faith Between Us

Archive for September, 2010

The global recession continues to hit the average family hard and a lot more people are showing more interest in how they run their personal finance.

Did you know that almost 1 in 2 American adults spend more than they earn? And did you know that recent studies show that personal bankruptcies have doubled in the past 10 years? This article helps to ensure that you don’t add to these statistics and helps you to review your personal finance.

Reduce Your Debts
In times of recession, it’s essential to reduce your debt; particularly expensive unsecured debt like hire purchase, credit cards and personal finance loans. Typically it makes sense to pay off those debts that attract higher interest rates before other cheaper forms of finance. Review your savings and the rate of interest you earn from them. If necessary, use these or any spare cash you may have to pay off debts as soon as possible as it’s unlikely that the interest on your debt will be much more than what you’re getting on your savings. You might want to maintain a small ‘emergency fund’ but your focus should be on paying off outstanding debts on your cards and loans.

Budget mercilessly
You should plan your personal finance very thoroughly and down to military precision. If you are not doing it already, you should record all the cash you spend – on food, utility bills, insurance, ‘phone, fuel. etc . You should then determine how much you spend each month and compare that figure to how much money you earn. On which expenses can you make some quick cutbacks? Keep in mind that you have to start creating a surplus to begin to pay back debts.  Read more...

It’s very common nowadays for Australian businesses, big and small, to do business with Americans. The Internet and other communication technology have facilitated easy international communication and inexpensive global marketing. Even so, when you’re dealing with an overseas company you like to establish their credibility before you place your order. When dealing with American companies, many overseas buyers are careful to check that they’re dealing with a legitimate company – preferably one with a verifiable street address. Americans are just as careful when buying from overseas firms.

If your main business location is in Australia and you’re not in a financial position to open your own Manhattan offices, there’s no reason for you to miss out on tapping into one of the biggest marketplaces in the world. Obtaining a legitimate and verifiable Manhattan office address and telephone number is as easy as obtaining a Manhattan virtual office.

Having a Manhattan virtual office isn’t as expensive as you might think. With VH International Business Solutions’ Manhattan virtual office service at just $25 a month you can have a Manhattan office address for your business cards and website. Should anyone stop in at your office address they’ll be greeted by staff at our reception and a message will be taken.

You can choose from other services too – like mail forwarding and a Manhattan telephone number with a messaging service or live answering. Mail and telephone messages can be forwarded to you promptly and should you need anything faxed in the US, our staff will be happy to help you. Your clients won’t know you’re not physically in Manhattan.  Read more...

It’s very common nowadays for British businesses, big and small, to do business with Americans. The Internet and other communication technology have facilitated easy international communication and inexpensive global marketing. Even so, when you’re dealing with an overseas company you like to establish their credibility before you place your order. When dealing with American companies, many overseas buyers are careful to check that they’re dealing with a legitimate company – preferably one with a verifiable street address. Americans are just as careful when buying from overseas firms.

If your main business location is in Britain and you’re not in a financial position to open your own New York City offices, there’s no reason for you to miss out on tapping into one of the biggest marketplaces in the world. Obtaining a legitimate and verifiable New York City office address and telephone number is as easy as obtaining a New York City virtual office from VH International Business Solutions..

Having a New York City virtual office isn’t as expensive as you might think.  For just $25 a month you can have a New York City office address for your business cards and website. Should anyone stop in at your office address they’ll be greeted by staff at our reception and a message will be taken.

You can choose from other services too – like mail forwarding and a New York City telephone number with a messaging service or live answering. Mail and telephone messages can be forwarded to you promptly and should you need anything faxed in the US, our staff will be happy to help you. Your clients won’t know you’re not physically in New York City.  Read more...

Collateral Management financial services software is a system designed to improve the credit exposure of a financial institution. Lenders can now employ fewer risks when dealing with unsecured financial transactions. Collateral is an effective method for collecting debts that have not been paid. This is also referred to as ‘bilateral insurance’. In the past couple of years, other methods have been used to collect debts such as outsourcing and tax treatment. Since every transaction made comes with its own risks, it is important to use the aide of Collateral Management financial services software. The transactions that hold the highest risk include; stock and bond purchases, business loans and term loans. Most financial institutions demand collateral before agreeing to lend funds. There are multiple resources to provide collateral such as; notes, shocks, real estate and government bonds.

Banks now are using Collateral Management financial services software along with other financial institutions and are benefiting from the system. This software has the insights and strategies for making the right decision when it comes to lending out funds. The software already has analytical data embedded in order to make the right decisions for his or her company.

One form of lending is called collateralization; this is when the borrower receives the best rates. Another term related to financial institutions and lending is called, credit risk mitigation. These private transactions occur in order to get rid of risk just in case the borrower defaults or is unable to pay back the loan. A facilitation allows a company to set limits including lifting credit holds. This is useful when the creditor and the borrower can reach an agreement to pay back loans and funds.  Read more...

All hotels need someone to act as the financial manager of the hotel, and there can be a danger and a liability if the General Manager has to be the one who handles all facets of the operation.

Controllers are usually the one responsible for short and long term planning, as well as daily operations of the accounting department. In larger organizations, s/he interacts with some regularity with the brand or management company Vice President(s) and Corporate Controller. They may deal with accounting transactions or control practices not specifically addressed in the acceptable company accounting policies and procedures manual or which requires interpretation.

In smaller hotels, the role of Hotel Controller may be handled by a 3rd party who may or may not be at the physical building each day. Many ownership groups use a cluster approach on this function, and have only very basic financial activities at the hotel level with all reconciliations and filings done by the owner’s office or an accountant. Management companies often successfully use this approach.

With that as an introduction, the following ‘Bakers Dozen’ of Strategies for Hotel Controllers can be considered in either approach.

1. Take the lead on establishing and administering all financial systems and internal controls. This includes an approved and complete plan for overall financial checks and balances for control of operations. In the case of high volume food and beverage, gaming, retail or other revenue centers, this is critical to cash flow management. Most hotels use approved industry standard accounting systems and formats.  Read more...