Best Finance Advisor

Know Your Benefits- Best Personal Financial Advice

Finance - When it comes to handling financial matters, you should think twice about fully relying on personal knowledge. Do not disregard the benefits of seeking personal financial advice. Financial issues are not just contained in present issues, but also finances of the future. With financial advice, people are able to strengthen whatever they have at present in preparation for possible outcomes.

In whichever country you belong to, be it from the third of first world, it does not change the fact that economy is money. It plays a vital role in our day to day lives such as with bills, savings, and most especially with debts. Aside from managing these accountable, the target of personal finance should also be being able to keep maximum money in hands. In this case, tapping on some financial advice is a great move.

The Unspoken Practical Rule- Income Should Exceed Expenses

Financial management is not limited to managing your income and expenditures, but it also should be able to map out budgets and future expense as well as income. All of these factors should be balanced. You will not only know what to do, but you will also understand the how's and why's of these with the help of financial advice. These pieces of advice come from consultants who not only have had experience with the ins and outs of money, but have also studied how it can be managed best.

Baby Steps in Interests

Another financial advice that will benefit you in the purpose of saving money is to identify where you will get the best interest rate for your savings. It is a sound advice that will allow your money to grow in the long run for possible future capitals. In this method, there is no sudden increase in savings, but in the long run, is a good way of seeing your money grow without extra efforts.

To maximize the use of personal financial advice, you should be ready to set-up a retirement goal. This allows you to set aside money for a comfortable retirement life without breaking the bank, nor cost your present living.

By Jon McQueen

International Financial Reporting Standards

Finance - International Financial Reporting Standards are standards and interpretations adopted by the International Accounting Standards Board.

Many of the standards forming part of International Financial Reporting Standards are known by the older name of International Accounting Standards. International Accounting Standards was issued between 1973 and 2001 by the board of the International Accounting Standards Committee. In April 2001 the International Accounting Standards Board adopted all International Accounting Standards and continued their development, calling the new standards International Financial Reporting Standards.

Objective of financial statements

the framework states that the objective of financial statements is to provide information about the financial position, performance and changes in the financial position of an entity that is useful to a wide range of users in making economic decisions.

Underlying assumptions

The underlying assumptions used in International Financial Reporting Standards are:

• Accrual basis - the effect of transactions and other events are recognized when they occur, not as cash is received or paid.
• Going concern - the financial statements are prepared on the basis that an entity will continue in operation for the foreseeable future.

Qualitative characteristics of financial statements

The Framework describes the qualitative characteristics of financial statements as being:

• Understandability
• Relevance
• Reliability
• Comparability

Elements of financial statements

The Framework sets out the statement of financial position (balance sheet) as comprising:

• Assets - resources controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity
• Liabilities - a present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits
• Equity - the residual interest in the assets of the entity after deducting all its liabilities
and the statement of comprehensive income (income statement) as comprising:
• Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or reductions in liabilities.
• Expenses are decreases in such economic benefits.

By Randika Lalith Abeysinghe

Independent Financial Advisers

Finance - There is no doubting that the Credit Crunch and resulting recession has elevated the importance of the role of an independent financial adviser. With the 'unexpected' never too far away, in terms of job security and current financial well-being it has never been a more critical time to consult with an IFA to really maximise your present and future business or personal financial matters.

There has been a raft of anecdotal evidence regarding the worrying number of UK consumers cutting back on financial service offerings especially within the insurance sector. It is important to reiterate that home, whether it be building or contents insurance cover is an absolute must and underlines the importance of homeowners needing to look elsewhere to reduce their outgoings. A trusted independent financial adviser can certainly help to negate such risks and indeed add real value through their extensive knowledge and product expertise. This expertise will help provide a vital financial safety net to steer individuals and families through the recession, as well as helping to provide long-term security at a cost that is right for you.

By Mark Cijo

The Basics of Finance Spread Betting

Finance - Ever fancied trying your hand at financial spread betting but haven't really known what it's about, or where to get started? In this article we take a very basic look at financial spread betting and ask what it's all about.

Financial spread betting is a commonly used retail derivative employ to speculate which direction the share price of a stock/commodity/index will take without actually owning or purchasing any of the shares. It is now one of the United Kingdom's most popular methods of trading, and this is not surprising given that any profits are 100% free from stamp duty and Capital Gains and Income Tax. A spread bet is a contract between the client and spread betting company where the bet is based on an underlying financial instrument. Actual ownership of that financial instrument never takes place. < Finance >

One of the principle reasons for using this tool is to profit from markets such as stocks and shares, bonds, foreign exchange, and commodities such as crude oil and gold, be they on the UK or international markets. Financial spread betting is a great way for smaller investors to trade without committing to a large financial investment.

Unlike bets in bookmakers, there are no fixed odds in spread betting, but instead a stake is betted (pound s per point) on the direction of the market. If the trader bets that the price will rise, this is called 'going long', and if the better predicts the price will fall, this is called 'going short'. So rather than direct ownership of equities in a company, the trader is betting on which direction he thinks the price will go. Any profit or loss made is determined by the difference in buy and sell (bid and offer) prices. < Finance >

Finance - Another advantage of financial spread betting is that it is also possible to make money if the price falls, unlike the more traditional methods of trading. And making profits here is as simple as making profits in a rising market, it simply depends on how far (how many points) the price has fallen against the price the time the bet is executed.

There are principally two types of spread bets at present. The first is a bet which closes once the markets close, and the second is a bet which will close at the end of a quarterly cycle. Daily spread bets do have expire at the end of each day but for a small 'interest' charge you can roll over these bets into the next trading day or trading cycle. < Finance >

Benefits of financial spread betting include access to most markets 24 hours a day, all markets traded through just one account, and the use of smaller bets. This is attractive for traders who are looking to get in and out of a trade quickly. Another benefit is that there is no commission or fees involved and all of the costs are included in the bid-offer agreement. With financial spread betting your financial products are all in the same place and under the currency of your choice, pound sterling, US dollar, or euro. This saves you the inconvenience and costs involved in exchanging currencies.

Finance - As with all trading and investment, there is an element of risk involved and if the market moves in the opposite direction to your bet, you may lose your money. Research your market and only bet what you can realistically afford. Stop-loss facilities are offered by most financial spread betting companies to help you monitor your funds. These facilities are set up to suit your individual financial requirements but they may not be guaranteed and money can still be lost.

By Stuart S Smith

General Finance Planning For the Future in Turbulent Times

Finance - Far too many investors get freaked out during a recession, or an down turn in the business cycle and sell all their stocks right after the stock market collapses. And then they promise they will never buy another stock of any company as long as they live.

Of course, as the business cycle starts going back up again they see everyone else making money on their investments and they decide it is time for them to investigate and buy back in. But by this time the market has reached its next top and as they buy in at the top of the market, it collapses all over again, and they lose all their money, because they once again get out at the bottom. < Finance >

This is why investors should hire a financial planner who can watch the peaks and valleys of the business cycle, and prevent investors from investing in the wrong types of companies at the wrong times, as well as help them diversify their portfolios. This way they are not too invested in one type of investment-vehicle that will burn them.

Now, some investors believe that they can do all the investing themselves and they are smart enough to time the market and make money without a financial planner. Whereas, this might be true if they spent a whole lot of years studying things, and spend all day watching the stock market, but alas investors really don't do that. Many of them have other jobs and they are busy all day doing something else. < Finance >

This kind of thinking can be a mind trap for someone who is somewhat arrogant, and believes they can do everything by themselves. The reality is that even general financial planning takes into consideration the future turbulent times that are ahead. And it takes advantage of the up cycle during expansion periods. Please consider all this. Thank you very much. < Finance >

By Lance Winslow

How to Be Finance Secure

Finance - I know that there are families out there that have lost their homes, jobs and lives because of stress and worry.

On a daily basis you try to be the strong one; you can't help wondering where the next paycheck is coming from, how you're going to feed your family and how you're going to keep your home.

Now with the troubling economy much of us want to have a second income without working ourselves to death. A lot of people are trying home businesses and internet businesses. There are a lot of them out there. There are a lot of way's to get started but you have to research and look at many of them that are scams. You have to take time and research and check into the how the where the way's of getting started. Like how much you are wiling to spend set a budget aside of what you can afford to put into this project. < Finance >

Don't put yourself in a more financial bind than what you are already in. your struggling now don't make it worse for yourself.

Make sure you have the time to put into your business to market it and stay with it. You won't be rich over night, it takes time to see results. Talk it over with your family and make sure everyone is on board with the decision making process. < Finance >

An online business can give you the financial security that you need. It can function as a steady income stream once you have firmly established and marketed it. An online business or home business can be a secondary income for you if you are already employed and are looking for some extra income. < Finance >

By Lisa Hartman