Accounting And Finance Quotes

We've searched our database for all the quotes and captions related to Accounting And Finance. Here they are! All 193 of them:

If you don't take good care of your credit, then your credit won't take good care of you.
Tyler Gregory
There is much more to wealth than simply a bank account with many zeros. A well-balanced, whole life is made up of wealth and success that comes from many facets; family, friends, work, faith, it is the complete person who works on each of these areas and creates the whole,
Celso Cukierkorn (Secrets of Jewish Wealth Revealed!)
If repairing one's credit is as easy as sending some dispute letters to the credit bureaus then why doesn't everyone have good credit?
Tyler Gregory
Are you willing to accept anything less than the credit you want, the credit you need and the credit you deserve?
Tyler Gregory
Net Income is more important than gross revenues.
Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth
It is easier to tell our therapist about our sex life than it is to tell our accountant about our finances.
Vicki Robin (Your Money or Your Life)
the polluters had triumphed by overturning the campaign-finance laws. “There was a huge change after Citizens United,” he contends. “When anyone could spend any amount of money without revealing who they were, by hiding behind amorphous-named organizations, the floodgates opened. The Supreme Court made a huge mistake. There is no accountability. Zero.
Jane Mayer (Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right)
health, social life, job, house, partners, finances; leisure use, leisure amount; working time, education, income, children; food, water, shelter, clothing, sex, health care; mobility; physical safety, social safety, job security, savings account, insurance, disability protection, family leave, vacation; place tenure, a commons; access to wilderness, mountains, ocean; peace, political stability, political input, political satisfaction; air, water, esteem; status, recognition; home, community, neighbors, civil society, sports, the arts; longevity treatments, gender choice; the opportunity to become more what you are that's all you need
Kim Stanley Robinson (2312)
A man is not allowed to practise medicine unless he knows something of the human body, but a financier is allowed to operate freely without any knowledge at all of the multifarious effects of his activities, with the sole exception of the effect upon his bank account.
Bertrand Russell (In Praise of Idleness and Other Essays)
And we all nodded at him: the man of finance, the man of accounts, the man of law, we all nodded at him over the polished table that like a still sheet of brown water reflected our faces, lined, wrinkled; our faces marked by toil, by deceptions, by success, by love; our weary eyes looking still, looking always, looking anxiously for something out of life, that while it is expected is already gone – has passed unseen, in a sigh, in a flash – together with the youth, with the strength, with the romance of illusions.
Joseph Conrad
A policy of ‘naming and shaming’ is ineffective if everyone has been named and shamed.
John Kay (Other People's Money: The Real Business of Finance)
Danny has demonstrated exceptional finance and accounting abilities and his accomplishments are impressive- especially considering his young age. His training has been invaluable. I am pleased to commend his excellence.
Rick Perry
The [carried-interest] loophole was in essence an accounting trick that enabled hedge fund and private equity managers to categorize huge portions of their income as ‘interest,’ which was taxed at the 15 percent rate then applied to long-term capital gains. This was less than half the income tax rate paid by other top-bracket wage earners. Critics called the loophole a gigantic subsidy to millionaires and billionaires at the expense of ordinary taxpayers. The Economic Policy Institute, a progressive think tank, estimated that the hedge fund loophole cost the government over $6 billion a year—the cost of providing health care to three million children. Of that total, it said, almost $2 billion a year from the tax break went to just twenty-five individuals.
Jane Mayer (Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right)
If a woman makes a unilateral decision to bring pregnancy to term, and the biological father does not, and cannot, share in this decision, he should not be liable for 21 years of support... autonomous women making independent decisions about their lives should not expect men to finance their choice.
Karen Decrow
In fact, they are not taught in any university departments: the dynamics of debt, and how the pattern of bank lending inflates land prices, or national income accounting and the rising share absorbed by rent extraction in the Finance, Insurance and Real Estate (FIRE) sector. There was only one way to learn how to analyze these topics: to work for banks. Back in the 1960s there was barely a hint that these trends would become a great financial bubble.
Michael Hudson (Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy)
I’ve learned that while the finance goals are important, they’re not the most important. Finance can hit all our objectives, and the company still can fail. After all, the best accounts receivables team on the planet can’t save us if we’re in the wrong market with the wrong product strategy with an R&D team that can’t deliver.
Gene Kim (The Phoenix Project: A Novel About IT, DevOps, and Helping Your Business Win)
Would you believe me if I told you that there’s an investment strategy that a seven-year-old could understand, will take you fifteen minutes of work per year, outperform 90 percent of finance professionals in the long run, and make you a millionaire over time?   Well, it is true, and here it is: Start by saving 15 percent of your salary at age 25 into a 401(k) plan, an IRA, or a taxable account (or all three). Put equal amounts of that 15 percent into just three different mutual funds:   A U.S. total stock market index fund An international total stock market index fund A U.S. total bond market index fund.   Over time, the three funds will grow at different rates, so once per year you’ll adjust their amounts so that they’re again equal. (That’s the fifteen minutes per year, assuming you’ve enrolled in an automatic savings plan.)   That’s it; if you can follow this simple recipe throughout your working career, you will almost certainly beat out most professional investors. More importantly, you’ll likely accumulate enough savings to retire comfortably.
William J. Bernstein (If You Can: How Millennials Can Get Rich Slowly)
Isn't it sad that we have to gain control of the artificial numbers placed upon us by others to regain some control of our lives?
Rick Gregory
Schools of business responded to popular demand for finance and creative accounting. The results are decline.
W. Edwards Deming (Out of the Crises)
Enough is not in the volume of money owned or size of one’s account. It is in the needs that can be consistently met without having to work for money anymore
Ola Barnabas
Every unit of time that passes daily should be accounted for
Sunday Adelaja
Always account for each unit of passing time
Sunday Adelaja
By all that’s wonderful, it is the sea, I believe, the sea itself — or is it youth alone? Who can tell? But you here — you all had something out of life: money, love — whatever one gets on shore — and, tell me, wasn’t that the best time, that time when we were young at sea; young and had nothing, on the sea that gives nothing, except hard knocks — and sometimes a chance to feel your strength — that only — what you all regret?” And we all nodded at him: the man of finance, the man of accounts, the man of law, we all nodded at him over the polished table that like a still sheet of brown water reflected our faces, lined, wrinkled; our faces marked by toil, by deceptions, by success, by love; our weary eyes looking still, looking always, looking anxiously for something out of life, that while it is expected is already gone — has passed unseen, in a sigh, in a flash — together with the youth, with the strength, with the romance of illusions.
Joseph Conrad (Heart of Darkness)
Then, in the late summer of 1790, Humboldt began to study finance and economics at the academy of trade in Hamburg. He hated it for it was all numbers and account books. In his spare time, Humboldt delved into scientific treatises and travel book, he learned Danish and Swedish - anything was better than his business studies. Whenever he could, he walked down to the River Elbe in Hamburg where he watched the large merchant vessels that brought tobacco, rice and indigo from the United States. The 'sight of the ships in the harbour', he told a friend, was what held him together - a symbol of his hopes and dreams. He couldn't wait to be finally the 'master of his own luck'.
Andrea Wulf (The Invention of Nature: Alexander von Humboldt's New World)
In contrast to Ricardo’s expectation that banking would retain its early focus on international commerce — and hence,on industrial capital formation to provide foreign markets with British exports in exchange for raw materials — banking has found real estate to be the key, along with its traditional market in creating monopolies and trusts. Some 80% of bank loans in the United States and Britain are mortgages, and consequently they account for 70% of the economy’s interest payments.
Michael Hudson (The Bubble and Beyond)
I still remember when the Paradise Papers and the Panama Papers came out and revealed that all the rich people in the world are part of huge criminal conspiracy to dodge taxes and hoard stolen wealth in offshore accounts and literally nothing is happened.
Fuad Alakbarov
1. Project What is the project? Why is it unique? Why is the business needed? Why will customers love your product? 2. Partners Who are you? Who are the partners? What are your educational backgrounds? How much experience do you all have? How are you and your partners qualified to make the project a success? 3. Financing What is the total cost of the project? How much debt and how much equity is there? Are partners investing their own money? What is the investor’s return and reward for their risk? What are the tax consequences? Who is your CFO or accounting firm? Who is responsible for investor communications? What is the investor’s exit? 4. Management Who is running your company? What is their experience? What is their track record? Have they ever failed? How does their experience relate to your industry? Do you believe this is the strongest management team you can assemble? Can you pitch them with confidence?
Donald J. Trump (Midas Touch)
Forget about earnings. That's a priesthood of the accounting profession," he would preach, unrelentingly. "What you're really after is appreciating assets. You want to own as much of that asset as you can; then you want to finance it as efficiently as possible." 6 And above all else, make sure that the deals you do avoid as much in taxes as is legally possible.
Mark Robichaux (Cable Cowboy: John Malone and the Rise of the Modern Cable Business)
To honour his bills of exchange, Badoer had at least four accounts with local bankers in Constantinople, where banking was organised along the same lines as on the Rialto: a bank’s primary function was not to lend money, but to transfer the funds of its depositors, who personally presented themselves to authorise the transfer of money to creditor accounts in different cities.
Jane Gleeson-White (Double Entry: How the Merchants of Venice Created Modern Finance)
Lefever describes his financing plan with modesty: "'Our detailed budget is realistic, but does not take into account the inflation that may occur before September 1983. The one place it could cut or reduce is item 7, the simultaneous interpreter services, if these services could be provided gratis by the U.S. government.'" "In other words, the only way to make a saving on a U.S.-subsidized project is to take money out of another U.S.-subsidized column.
Christopher Hitchens
Phaethon asked: “Do you think there is something wrong with the Sophotechs? We are Manorials, father! We let Rhadamanthus control our finances and property, umpire our disputes, teach our children, design our thoughtscapes, and even play matchmaker to find us wives and husbands!” “Son, the Sophotechs may be sufficient to advise the Parliament on laws and rules. Laws are a matter of logic and common sense. Specially designed human-thinking versions, like Rhadamanthus, can tell us how to fulfill our desires and balance our account books. Those are questions of strategy, of efficient allocation of resources and time. But the Sophotechs, they cannot choose our desires for us. They cannot guide our culture, our values, our tastes. That is a question of the spirit.” “Then what would you have us do? Would you change our laws?” “Our mores, not our laws. There are many things which are repugnant, deadly to the spirit, and self-destructive, but which law should not forbid. Addiction, self-delusion, self-destruction, slander, perversion, love of ugliness. How can we discourage such things without the use of force? It was in response to this need that the College of Hortators evolved. Peacefully, by means of boycotts, public protests, denouncements, and shunnings, our society can maintain her sanity against the dangers to our spirit, to our humanity, to which such unboundried liberty, and such potent technology, exposes us.” (...) But Phaethon certainly did not want to hear a lecture, not today. “Why are you telling me all this? What is the point?” “Phaethon, I will let you pass through those doors, and, once through, you will have at your command all the powers and perquisites I myself possess. The point of my story is simple. The paradox of liberty of which you spoke before applies to our entire society. We cannot be free without being free to harm ourselves. Advances in technology can remove physical dangers from our lives, but, when they do, the spiritual dangers increase. By spiritual danger I mean a danger to your integrity, your decency, your sense of life. Against those dangers I warn you; you can be invulnerable, if you choose, because no spiritual danger can conquer you without your own consent. But, once they have your consent, those dangers are all-powerful, because no outside force can come to your aid. Spiritual dangers are always faced alone. It is for this reason that the Silver-Gray School was formed; it is for this reason that we practice the exercise of self-discipline. Once you pass those doors, my son, you will be one of us, and there will be nothing to restrain you from corruption and self-destruction except yourself. “You have a bright and fiery soul, Phaethon, a power to do great things; but I fear you may one day unleash such a tempest of fire that you may consume yourself, and all the world around you.
John C. Wright (The Golden Age (Golden Age #1))
Fortunately, due to a terrible misunderstanding, I soon found myself working as a consultant to the World Bank. I am not exactly sure what it was that led the World Bank to believe I had any expertise in infrastructure finance. I had never even balanced a checkbook. I hadn’t even tried. There is not much reason to balance a checkbook when your checking account rarely tops the three-figure mark. And so, to the Third World countries who had the misfortune of working with me on their infrastructure projects, I wish to apologize.
J. Maarten Troost (The Sex Lives of Cannibals: Adrift in the Equatorial Pacific)
For centuries, it wasn’t government that kept the best records; merchants did. They were the ones who refined methods of accounting, bookkeeping, costs, and incomes, and they were at the core of the development of banking and notes of credit that are the precursors to all contemporary finance. Rulers, however, needed and coveted the revenue that merchants generated. Hence the evolution of the mercantile system, which saw various empires attempt to monopolize trade with their far-flung colonies and keep out foreign powers and foreign merchants.
Zachary Karabell (The Leading Indicators: A Short History of the Numbers That Rule Our World)
It takes an army to make a movie. Camera crews, lighting crews, wardrobe crews, makeup crews, hair crews, painters, builders (called grips), a crew to provide the props, a crew to provide the furnishings (the art department), electricians, special-effects people, stunt performers, stand-ins, the accountant, scheduling and finance (called the unit production manager), catering and someone to provide snacks and drinks (called craft service), and the team of walkie-talkie-armed Gestapo that police the second-by-second momentum of shooting: the assistant director staff.
Rob Lowe (Stories I Only Tell My Friends)
To mark its global centrality, the French sculptor Frédéric-Auguste Bartholdi asked the Egyptian government to let him build a ninety-foot statue of an Arab peasant woman wearing robes and holding a torch above her head to welcome Eastern travelers to the Mediterranean. When Egypt declined on account of the project’s high cost, he took the idea to France, which financed the sculpture. Once the Muslim woman was refashioned into a Roman goddess, France gifted the statue to the United States, where the woman became a symbol of liberty for immigrants entering New York Harbor.
Daniel Stone (The Food Explorer: The True Adventures of the Globe-Trotting Botanist Who Transformed What America Eats)
The Marine Corps assumes maximum ignorance from its enlisted folks. It assumes that no one taught you anything about physical fitness, personal hygiene, or personal finances. I took mandatory classes about balancing a checkbook, saving, and investing. When I came home from boot camp with my fifteen-hundred-dollar earnings deposited in a mediocre regional bank, a senior enlisted marine drove me to Navy Federal—a respected credit union—and had me open an account. When I caught strep throat and tried to tough it out, my commanding officer noticed and ordered me to the doctor. We
J.D. Vance (Hillbilly Elegy: A Memoir of a Family and Culture in Crisis)
If you run a bakery, you need a baker, a shop assistant to sell the cakes, and someone to oversee the finances. Would you employ the same person to do all three jobs? Of course not. Your financial wizard may know nothing about baking, but he will keep your accounts in perfect order. Your shop assistant may know nothing about finances, but he understands how to treat his customers. Each brings a unique skill to his job. In the same way, you may know enough about each set of skills to be able to manage a team of people, but you aren’t necessarily the best person to actually do the baking, even if you have a rough knowledge of it.
Andrea Plos (Sources of Wealth)
Thaler recounts an amusing real-life example of mental accounting.15 A professor of finance he knows has a clever strategy to help him deal with minor misfortunes. At the beginning of the year, the professor plans for a generous donation to his favorite charity. Anything untoward that happens in the course of the year—a speeding ticket, replacing a lost possession, an unwanted touch by an impecunious relative—is then charged to the charity account. The system makes the losses painless, because the charity does the paying. The charity receives whatever is left over in the account. Thaler has nominated his friend as the world’s first Certified Mental Accountant.
Peter L. Bernstein (Against the Gods: The Remarkable Story of Risk)
Hillary trotted out her favorite image of a three-legged stool that upholds stable societies: “a responsive, accountable government; an energetic, effective private sector economy; and then civil society, which represents everything else that happens in the space between the government and the economy, that holds the values, that represents the aspirations.” This “stool” is actually the image of the bland governance of a corporate society: a government responsive to the demands of finance capital, a capitalist economy, and private, unelected and well-funded organizations that will determine “our values”. Note what is missing: a vigorous political life, scrupulously independent media, and an education system that prepares intellectually alert and critical citizens.
Diana Johnstone (Queen of Chaos: The Misadventures of Hillary Clinton)
But for me all the East is contained in that vision of my youth. It is all in that moment when I opened my young eyes on it. I came upon it from a tussle with the sea—and I was young—and I saw it looking at me. And this is all that is left of it! Only a moment; a moment of strength, of romance, of glamour—of youth!... A flick of sunshine upon a strange shore, the time to remember, the time for a sigh, and—good-bye!—Night—Good-bye...!” He drank. “Ah! The good old time—the good old time. Youth and the sea. Glamour and the sea! The good, strong sea, the salt, bitter sea, that could whisper to you and roar at you and knock your breath out of you.” He drank again. “By all that’s wonderful, it is the sea, I believe, the sea itself—or is it youth alone? Who can tell? But you here—you all had something out of life: money, love—whatever one gets on shore—and, tell me, wasn’t that the best time, that time when we were young at sea; young and had nothing, on the sea that gives nothing, except hard knocks—and sometimes a chance to feel your strength—that only—what you all regret?” And we all nodded at him: the man of finance, the man of accounts, the man of law, we all nodded at him over the polished table that like a still sheet of brown water reflected our faces, lined, wrinkled; our faces marked by toil, by deceptions, by success, by love; our weary eyes looking still, looking always, looking anxiously for something out of life, that while it is expected is already gone—has passed unseen, in a sigh, in a flash—together with the youth, with the strength, with the romance of illusions.
Joseph Conrad (Youth)
The panic was blamed on many factors—tight money, Roosevelt’s Gridiron Club speech attacking the “malefactors of great wealth,” and excessive speculation in copper, mining, and railroad stocks. The immediate weakness arose from the recklessness of the trust companies. In the early 1900s, national and most state-chartered banks couldn’t take trust accounts (wills, estates, and so on) but directed customers to trusts. Traditionally, these had been synonymous with safe investment. By 1907, however, they had exploited enough legal loopholes to become highly speculative. To draw money for risky ventures, they paid exorbitant interest rates, and trust executives operated like stock market plungers. They loaned out so much against stocks and bonds that by October 1907 as much as half the bank loans in New York were backed by securities as collateral—an extremely shaky base for the system. The trusts also didn’t keep the high cash reserves of commercial banks and were vulnerable to sudden runs.
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
The Proofs Human society has devised a system of proofs or tests that people must pass before they can participate in many aspects of commercial exchange and social interaction. Until they can prove that they are who they say they are, and until that identity is tied to a record of on-time payments, property ownership, and other forms of trustworthy behavior, they are often excluded—from getting bank accounts, from accessing credit, from being able to vote, from anything other than prepaid telephone or electricity. It’s why one of the biggest opportunities for this technology to address the problem of global financial inclusion is that it might help people come up with these proofs. In a nutshell, the goal can be defined as proving who I am, what I do, and what I own. Companies and institutions habitually ask questions—about identity, about reputation, and about assets—before engaging with someone as an employee or business partner. A business that’s unable to develop a reliable picture of a person’s identity, reputation, and assets faces uncertainty. Would you hire or loan money to a person about whom you knew nothing? It is riskier to deal with such people, which in turn means they must pay marked-up prices to access all sorts of financial services. They pay higher rates on a loan or are forced by a pawnshop to accept a steep discount on their pawned belongings in return for credit. Unable to get bank accounts or credit cards, they cash checks at a steep discount from the face value, pay high fees on money orders, and pay cash for everything while the rest of us enjoy twenty-five days interest free on our credit cards. It’s expensive to be poor, which means it’s a self-perpetuating state of being. Sometimes the service providers’ caution is dictated by regulation or compliance rules more than the unwillingness of the banker or trader to enter a deal—in the United States and other developed countries, banks are required to hold more capital against loans deemed to be of poor quality, for example. But many other times the driving factor is just fear of the unknown. Either way, anything that adds transparency to the multi-faceted picture of people’s lives should help institutions lower the cost of financing and insuring them.
Michael J. Casey (The Truth Machine: The Blockchain and the Future of Everything)
Banks were once an extremely valuable part of the economy and did a lot of good in advancing civilization. Banks played a pivotal role in financing big projects like roads, bridges, factories, stadiums, etc. Banks were to the economy what the heart is to the human body. But that has ended. Traditional banks have become extra toxic entities in the economy. It’s partially the fault of excessive government regulations that have made everything dysfunctional and it’s partially the fault of greedy bankers putting profits above customers and shareholders above society... But nonetheless, banks today offer very little benefit to their clients. They pay barely anything in interest. They offer barely anything in growth. They move money too slowly. They’re too restrictive. They’re selling the same boring products and services they did a hundred years ago. And they have too much power over peoples accounts. Soon, the many new companies and applications that emerge on the Ethereum infrastructure will eliminate the need for traditional banks and eliminate their value proposition by providing people with superior value. Everything from growth to asset management to lending can be done even better on the Ethereum infrastructure by anyone.
Hendrith Vanlon Smith Jr
President and Chief Operating Officer (COO), accountable for the overall achievement of the Strategic Objective and reporting to the SHAREHOLDERS who include, on an equal basis, Jack and Murray. • Vice-President/Marketing, accountable for finding customers and finding new ways to provide customers with the satisfactions they derive from widgets, at lower cost, and with greater ease, and reporting to the COO. • Vice-President/Operations, accountable for keeping customers by delivering to them what is promised by Marketing, and for discovering new ways of assembling widgets, at lower cost, and with greater efficiency so as to provide the customer with better service, reporting to the COO. • Vice-President/Finance, accountable for supporting both Marketing and Operations in the fulfillment of their accountabilities by achieving the company’s profitability standards, and by securing capital whenever it’s needed, and at the best rates, also reporting to the COO. • Reporting to the Vice-President/Marketing are two positions: Sales Manager and Advertising/Research Manager. • Reporting to the Vice-President/Operations are three positions: Production Manager, Service Manager, and Facilities Manager. • Reporting to the Vice-President/Finance are two positions: Accounts Receivable Manager and Accounts Payable Manager.
Michael E. Gerber (The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It)
Here are my simple rules for identifying market tops and bottoms: 1. Market tops are relatively easy to recognize. Buyers generally become overconfident and almost always believe “this time is different.” It’s usually not. 2. There’s always a surplus of relatively cheap debt capital to finance acquisitions and investments in a hot market. In some cases, lenders won’t even charge cash interest, and they often relax or suspend typical loan restrictions as well. Leverage levels escalate compared to historical averages, with borrowing sometimes reaching as high as ten times or more compared to equity. Buyers will start accepting overoptimistic accounting adjustments and financial forecasts to justify taking on high levels of debt. Unfortunately most of these forecasts tend not to materialize once the economy starts decelerating or declining. 3. Another indicator that a market is peaking is the number of people you know who start getting rich. The number of investors claiming outperformance grows with the market. Loose credit conditions and a rising tide can make it easy for individuals without any particular strategy or process to make money “accidentally.” But making money in strong markets can be short-lived. Smart investors perform well through a combination of self-discipline and sound risk assessment, even when market conditions reverse.
Stephen A. Schwarzman (What It Takes: Lessons in the Pursuit of Excellence)
Data sliced sufficiently finely begin once again to tell stories. The top 1 percent of the income distribution—representing household incomes in excess of roughly $475,000—comprises only about 1.5 million households. If one adds up the numbers of vice presidents or above at S&P 1500 companies (perhaps 250,000), professionals in the finance sector, including in hedge funds, venture capital, private equity, investment banking, and mutual funds (perhaps 250,000), professionals working at the top five management consultancies (roughly 60,000), partners at law firms whose profits per partner exceed $400,000 (roughly 25,000), and specialist doctors (roughly 500,000), this yields perhaps 1 million people. These are surely not all one-percenters, but they are all plausibly parts of the top 1 percent, and this group might comprise half—a sizable share—of 1 percent households overall. At the very least, the people in these known and named jobs constitute a material, rather than just marginal or eccentric, part of the top 1 percent of the income distribution. They are also, of course, the people depicted in journalistic accounts of extreme jobs—the people who regularly cancel vacation plans, spend most of their time on the road, live in unfurnished luxury apartments, and generally subsume themselves in work, encountering their personal lives only occasionally, and as strangers.
Daniel Markovits (The Meritocracy Trap: How America's Foundational Myth Feeds Inequality, Dismantles the Middle Class, and Devours the Elite)
Many college courses in the humanities focus on discussion over lecture. Students read course material ahead of time and have a discussion in class. Harvard Business School took this to the extreme by pioneering case-based learning more than a hundred years ago, and many business schools have since followed suit. There are no lectures there, not even in subjects like accounting or finance. Students read a ten-to twenty-page description of a particular company’s or person’s circumstance—called a “case”—on their own time and then participate in a discussion/debate in class (where attendance is mandatory). Professors are there to facilitate the discussion, not to dominate it. I can tell you from personal experience that despite there being eighty students in the room, you cannot zone out. Your brain is actively processing what your peers are saying while you try to come to your own conclusions so that you can contribute during the entire eighty-minute session. The time goes by faster than you want it to; students are more engaged than in any traditional classroom I’ve ever been a part of. Most importantly, the ideas that you and your peers collectively generate stick. To this day, comments and ways of thinking about a problem that my peers shared with me (or that I shared during class) nearly ten years ago come back to me as I try to help manage the growth and opportunities surrounding the Khan Academy.
Salman Khan (The One World Schoolhouse: Education Reimagined)
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The Seventh Central Pay Commission was appointed in February 2014 by the Government of India (Ministry of Finance) under the Chairmanship of Justice Ashok Kumar Mathur. The Commission has been given 18 months to make its recommendations. The terms of reference of the Commission are as follows:  1. To examine, review, evolve and recommend changes that are desirable and feasible regarding the principles that should govern the emoluments structure including pay, allowances and other facilities/benefits, in cash or kind, having regard to rationalisation and simplification therein as well as the specialised needs of various departments, agencies and services, in respect of the following categories of employees:-  (i) Central Government employees—industrial and non-industrial; (ii) Personnel belonging to the All India Services; (iii) Personnel of the Union Territories; (iv) Officers and employees of the Indian Audit and Accounts Department; (v) Members of the regulatory bodies (excluding the RBI) set up under the Acts of Parliament; and (vi) Officers and employees of the Supreme Court.   2. To examine, review, evolve and recommend changes that are desirable and feasible regarding the principles that should govern the emoluments structure, concessions and facilities/benefits, in cash or kind, as well as the retirement benefits of the personnel belonging to the Defence Forces, having regard to the historical and traditional parties, with due emphasis on the aspects unique to these personnel.   3. To work out the framework for an emoluments structure linked with the need to attract the most suitable talent to government service, promote efficiency, accountability and responsibility in the work culture, and foster excellence in the public governance system to respond to the complex challenges of modern administration and the rapid political, social, economic and technological changes, with due regard to expectations of stakeholders, and to recommend appropriate training and capacity building through a competency based framework.   4. To examine the existing schemes of payment of bonus, keeping in view, inter-alia, its bearing upon performance and productivity and make recommendations on the general principles, financial parameters and conditions for an appropriate incentive scheme to reward excellence in productivity, performance and integrity.   5. To review the variety of existing allowances presently available to employees in addition to pay and suggest their rationalisation and simplification with a view to ensuring that the pay structure is so designed as to take these into account.   6. To examine the principles which should govern the structure of pension and other retirement benefits, including revision of pension in the case of employees who have retired prior to the date of effect of these recommendations, keeping in view that retirement benefits of all Central Government employees appointed on and after 01.01.2004 are covered by the New Pension Scheme (NPS).   7. To make recommendations on the above, keeping in view:  (i) the economic conditions in the country and the need for fiscal prudence; (ii) the need to ensure that adequate resources are available for developmental expenditures and welfare measures; (iii) the likely impact of the recommendations on the finances of the state governments, which usually adopt the recommendations with some modifications; (iv) the prevailing emolument structure and retirement benefits available to employees of Central Public Sector Undertakings; and (v) the best global practices and their adaptability and relevance in Indian conditions.   8. To recommend the date of effect of its recommendations on all the above.
M. Laxmikanth (Governance in India)
With approval functionality, contracts (or trusted accounts) can be whitelisted to act as custodians for a user's tokens without directly holding the token balance. This widens the scope of possible applications because users retain full custody before an approved spender executes a transaction.
Campbell R. Harvey (DeFi and the Future of Finance)
In Ethereum, there are two types of addresses: the externally owned account (EOA) and an address of a contract account. Transactions sent to an EOA can only transfer ETH.1 In Bitcoin, all addresses are EOA. In Ethereum, when data is sent to a contract account, the data are used to execute code in that contract. The transaction may or may not have an accompanying ETH payment for use by the contract.
Campbell R. Harvey (DeFi and the Future of Finance)
Ethereum charges a gas fee for every transaction – similar to how driving a car takes a certain amount of gas, which costs money. Imagine Ethereum as one giant computer with many applications (i.e., smart contracts). If people want to use the computer, they must pay for each unit of computation. A simple computation such as sending ether (ETH) requires minimal work to update a few account balances and thus has a relatively small gas fee. A complex computation involving minting tokens and checking various conditions across many contracts requires more gas and thus will have a higher fee. The gas fee may lead to a poor user experience, however. It forces agents to maintain an ETH balance to pay it and leads to worry about overpaying, underpaying, or the transaction not taking place at all. So initiatives are ongoing to eliminate gas fees from end users.
Campbell R. Harvey (DeFi and the Future of Finance)
No one can post a false transaction without ownership of the corresponding account due to the asymmetric key cryptography protecting the accounts. You have one “public” key representing an address to receive tokens and a “private” key used to unlock and spend tokens over which you have custody. This same type of cryptography is used to protect your credit card information and data when using the Internet. A single account cannot “double spend” its tokens because the ledger keeps an audit of the balance at any given time and the faulty transaction would not clear. The ability to prevent a double spend without a central authority illustrates the primary advantage of using a blockchain to maintain the underlying ledger.
Campbell R. Harvey (DeFi and the Future of Finance)
Fundamentally, blockchains are software protocols that allow multiple parties to operate under shared assumptions and data without trusting each other. These data can be anything, such as location and destination information of items in a supply chain or account balances of a token. Updates are packaged into “blocks” and are “chained” together cryptographically to allow an audit of the prior history – hence the name.
Campbell R. Harvey (DeFi and the Future of Finance)
Modern coinage came much later, first emerging in Lydia around 600 BCE and providing what we think of as today's functions of money: unit of account, medium of exchange, and store of value.
Campbell R. Harvey (DeFi and the Future of Finance)
Profitability can be fixed over time if the business has firm roots, but cash problems are usually a sign that the end is coming. Cash is harder to manipulate. While the income statement uses many estimates and can be subject to deliberate manipulation, cash is easily measured because it is backed by what's in bank accounts.
Georgi Tsvetanov (Visual Finance: The One Page Visual Model to Understand Financial Statements and Make Better Business Decisions)
Dan Corrieri trained in engineering graphics, statistical process control, accounting manufacturing methods, finance, management, engineering economy, marketing, design processes in technology and engineering mechanics. Daniel Corrieri was a veteran of the United States Marine Corps Reserves with an honorable discharge. In addition, Daniel Corrieri has gained plenty of volunteer experience with Toys for Tots through the Marine Corps, community service for the American Cancer Society, church service and other excellent opportunities.
Dan Corrieri
With over 30 years in finance, MGB Accountants can assist in personal & business finance. With so many options and lending institutions currently available on the market, it is very easy to have a facility that is not suitable for your particular needs. MGB has over 25 lenders on their panel. We strive to search for the right facility for you and your needs and be your finance consultant for the long term.
For example, Kuznets believed the national accounts should include the value of unpaid housework,
Jane Gleeson-White (Double Entry: How the Merchants of Venice Created Modern Finance)
One day, not long after I relocated to California, I was driving to a meeting in Palo Alto when I spotted an amusing bumper sticker on the beat-up Porsche in front of me: PLEASE, GOD, ONE MORE BUBBLE BEFORE I DIE. The fallout from the dotcom crash was still fairly fresh. Was this someone who had missed out on the boom times, I wondered, or someone who had profited and then lost it all? Either way, the sticker highlighted a fascinating mindset that still pervades Silicon Valley: Are we out there just wishing that another bubble would come along, to boost our spirits and our bank accounts for as long as the party lasts? It’s a dangerous wish. Where would that leave us when the next bubble breaks? Many generations have seen true progress and growth, but not without moments when reality falls out of alignment with inflated bubble metrics. Hope, by its very definition, gets too far out in front of reality, and many of those hope-fueled companies don’t survive. The general formula in Silicon Valley is that there will be nine failures for every success—that high rate of failure is a necessary consequence of the freedom to take the risk to innovate. Even so, those failures leave damage and casualties in their wake. Part of the brilliance of startup culture is its dexterity and speed and conviction. Those same characteristics, however, can also manifest as vulnerability, as they frequently lead to shortsightedness, impatience, and volatility.
Christopher Varelas (How Money Became Dangerous: The Inside Story of Our Turbulent Relationship with Modern Finance)
money out of your savings or checking accounts. Debit cards look like credit cards, but they are not credit cards. You can use a debit card to purchase goods in a store just like when you are using a credit card. But the debit
Walter Andal (Finance 101 for Kids: Money Lessons Children Cannot Afford to Miss)
Debit cards and ATM cards are two good ways to get money out of your savings or checking accounts. Debit cards look like credit cards, but they are not credit cards. You can use a debit card to purchase goods in a store just like when you are using a credit card. But the debit
Walter Andal (Finance 101 for Kids: Money Lessons Children Cannot Afford to Miss)
This book could have easily been three words long: automate, automate, automate. It likely wouldn't have sold well, and you might have ignored the advice on account of it seeming too simple, but the fact is that many of the thornier elements of emotion can be done away with entirely by slavishly following a system of investment rules in all types of market weather.
Daniel Crosby (The Behavioral Investor)
When criminals evade justice should we not expect their criminal activities to burgeon, over time, and become ever more audacious? Yes, of course. The logic is obvious and straightforward. When society fails to hold wicked men accountable, what is to stop them from proliferating their criminal behavior, even to the point of undermining an entire nation? All the more so when the criminals in question are captains of industry, finance, and government.
Mark Gaffney
The variables which were apt for management by central authorities were interest rates and taxation, which he proposed that governments should adjust in order to stimulate investment and to seek full employment. However, he said little of emergency public works, and nothing about fiscal methods of demand management. He did not recommend increasing the government’s current expenditure by running a budget deficit to meet a deficiency of demand. He gave no encouragement to profligate finance ministers. He urged that additional government expenditure should be on capital account and financed from a separate capital budget while so far as possible the regular budget should be kept in balance. He suggested that full employment might be maintained by redistribution of income. If wealth was more equitably dispersed in the population, effective demand would be stimulated and would thus help capital growth. As the scarcity of capital diminished, investors would be rewarded less. He never believed that state planning would eliminate economic instability. He saw national economies as inherently wobbling: they were susceptible to rational management, but with irrational elements.73
Richard Davenport-Hines (Universal Man: The Lives of John Maynard Keynes)
list of documents that may be required. It can look intimidating, especially if you’ve not been actively involved in your family finances, but don’t panic. If you can’t find all of them or don’t have access, there is a later step in the divorce process called “discovery,” when you can legally compel the other side to provide copies of anything else you need: •Individual income tax returns (federal, state, local) for past three years •Business income tax returns (federal, state, local) for past three years •Proof of your current income (paystubs, statements, or paid invoices) •Proof of spouse’s income (paystubs, statements, or paid invoices) •Checking, savings, and certificate statements (personal and business) for past three years •Credit card and loan statements (personal and business) for past three years •Investment, pension plan, and retirement account statements for past three years •Mortgage statement and loan documents for all properties you have an interest in •Real estate appraisals •Property tax documents •Employment contracts •Benefit statements •Social Security statements •Life, homeowner’s, and auto insurance policies •Wills and trust agreements •Health insurance cards •Vehicle titles and/or registration •Monthly budget worksheet •List of personal property (furnishings, jewelry, electronics, artwork) •List of property acquired by gift or inheritance or owned prior to marriage •Prenuptial agreements •Marriage license •Prior court orders directing payment of child support or spousal support Your attorney or financial advisor may ask for additional documents specific to your case. Some of these may not be applicable to you.
Debra Doak (High-Conflict Divorce for Women: Your Guide to Coping Skills and Legal Strategies for All Stages of Divorce)
Brougham’s comment reflects the rapid increase from around 1800 in the number of people in England who called themselves accountants without having any particular expertise in the field and who gave the nascent profession a bad name.
Jane Gleeson-White (Double Entry: How the Merchants of Venice Created Modern Finance)
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CHAPTER 4 SUMMARY: BEST WAYS 71–80 71. When it comes to ensuring your family’s financial well-being, and securing a meaningful and rewarding job, you need to create a written action plan or a MAP (Meticulous Action Plan). 72. When you create a MAP, you are actually programming your own “employment GPS” so you can go from where you are to where you want to be. 73. When you’re done developing your action plan, you’ll have a highly structured schedule of activities for each day of the week. This includes your job transition campaign as well as your personal, social, and fitness activities. 74. If you are unemployed, you should invest 50, 60, or 70 hours a week on your job campaign. If you have a full-time job, you need to set aside a defined number of hours every week as your investment in your future. 75. Whether you are employed and looking for a better job or out of work seeking a new one, you must hold yourself fully accountable for putting in as many hours as possible and getting the most out of every hour you put in. 76. The first question you will need to address is, how many hours a week will you commit to your job transition campaign? Then, based on the number of weekly hours you’ll invest in getting a new job, your next step is to break weekly hours down into daily hours. 77. There are 13 primary job transition strategies for landing a job in troubled economic times. Your job is to determine which 4 to 6 strategies will be most effective for you. a. Networking and contact development b. Target marketing (identifying companies you want to work for) c. Internet searches and postings d. Federal jobs e. Search firms and employment agencies f. Blogs with job listings g. Classified advertisements in newspapers and trade journals h. Job fairs i. College placement departments and alumni associations j. Workforce System and One-Stops k. Volunteer work l. Job transition strategists m. Creative self-marketing 78. Once you have identified which job transition strategies will work best for your campaign, determine when, during the week, you will work on each. You want to create a structured weekly schedule. When you create a structured weekly schedule, you will have a detailed plan with specific daily tasks both for your job campaign and for personal and social activities. 79. Once you have a structured weekly schedule, you must set goals that you want to achieve from your weekly activities. A MAP without specific goals is not an effective plan. You will want to set specific goals for each strategy so you can track your success or modify the MAP if you are not achieving your weekly goals. 80. Prepare for the worst-case scenario. It is vitally important to remain in a positive, optimistic, and enthusiastic state of mind. But sometimes your plan won’t come to fruition as quickly as you’d like. So expect the best, but plan for the worst. This would include looking at your long- and short-term finances and health and other issues that need to be addressed to free you up to concentrate on getting your next job.
Jay A. Block (101 Best Ways to Land a Job in Troubled Times)
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The people, the product, and the offices of a company can, will, and must change as it blitzscales. Culture is one of the few mechanisms that allow the ship to retain its essential identity. Culture is what helps Apple retain its “Apple-ness” with Steve Jobs gone, and Intuit retain its, well, “Intuit(ive)-ness” even as it shifted from selling packaged personal finance software to providing a cloud accounting suite.
Reid Hoffman (Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies)
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Matiyas Solutions
During an interview with Diversity Inc.’s director of research and product development, she walked me through a typical presentation used to pitch the value of the company’s software to prospective clients. I learned that their products are especially valuable to those industries not allowed to collect ethno-racial data directly from individuals because of civil rights legislation that attempts to curb how these data are used to discriminate. But now those who work in finance, housing, and healthcare can use predictive software programs to ascertain information that they cannot request directly. The US Health Insurance Portability and Accountability Act (HIPAA) privacy rule, for example, strictly monitors the collection, storage, and communication of individuals’ “protected health information,” among other features of the law. This means that pharmaceutical companies, which market to different groups, need indirect methods to create customer profiles, because they cannot collect racial-ethnic data directly. This is where Diversity Inc. comes in. Its software programs target customers not only on the basis of race and ethnicity, but also on the basis of socioeconomic status, gender, and a growing list of other attributes. However, the company does not refer to “race” anywhere in their product descriptions. Everything is based on individuals’ names, we are told. “A person’s name is data,” according to the director of research and product development. She explains that her clients typically supply Diversity Inc. with a database of client names and her team builds knowledge around it. The process, she says, has a 96 percent accuracy rate, because so many last names are not shared across racial–ethnic groups – a phenomenon sociologists call “cultural segregation.”18
Ruha Benjamin (Race After Technology: Abolitionist Tools for the New Jim Code)
My investment philosophy changed when I read Charles Ellis’ book Winning the Loser’s Game. The book was given to me by my employer at the time, Michael Goodman, founder of Wealthstream Advisors, Inc. Ellis convinced me that trying to beat the market is a losing proposition. In golf, par is a good score, and avoiding bogeys is more important than making birdies. Very few professional investors beat the market consistently, after accounting for the costs. The most important takeaway from Ellis’ books is that the market return is a good return. The proliferation of low-cost index funds means that the market return is ours for the taking, if only we accept it. I have not purchased an individual stock since reading that book.
Joshua Brown (How I Invest My Money: Finance experts reveal how they save, spend, and invest)
How common is resource infidelity? One survey of a thousand individuals in New York City revealed that 40 percent of married women and 37 percent of married men had a secret bank account.12 A Harris survey found somewhat lower numbers, but nonetheless 31 percent admitted lying to their spouse about some aspect of finances—58 percent of those who did hid cash, 30 percent hid a bill, 15 percent hid a bank account, 11 percent lied about earnings, and another 11 percent lied about debt.13 Another study found that 80 percent of respondents admitted to hiding money from their spouse.14 Regardless of the exact numbers, which vary from study to study, sample to sample, and method to method, financial infidelity is clearly not uncommon.
David M. Buss (When Men Behave Badly: The Hidden Roots of Sexual Deception, Harassment, and Assault)
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Ensure that the cash flow into the organisation is regular and long-term. Outstandings have to be reduced. Collections from customers should be in time. A good banking and accounting system should be in place. Monitor finance reports regularly to keep an eye on these.
Radhakrishnan Pillai (Corporate Chanakya)
Our dysfunctional culture sends mixed signals about manhood. The world of sports tells me that authentic masculinity is linked to athleticism, physical strength, and winning the game. In short, muscles make the man. The world of finance suggests that my worth is directly tied to the size of my bank account, the square-footage of my house, the brand of watch I wear, and the make and model of car I drive. In other words, money makes the man. Then Hollywood tells me that real manhood is measured by how long I can last in bed and how many women I’ve had sex with. The clear message is: a penis makes a man. To add to that chorus, popular music today tells young urban men that their masculine value is boosted if they act tough, beat up women, use profanity, abuse drugs, outsmart the police, and drink as much alcohol as possible. If they do all these things, someone on the street will reward them by saying, “You da man!” So these guys grow up thinking that bad behavior makes a man, especially if it involves impregnating as many women as possible—and leaving those women with black eyes, bruises, and broken hearts in the process.
Lee Grady (10 Lies Men Believe: The Truth About Women, Power, Sex and God-and Why it Matters)
So Charlie decided to take back what rightfully belonged to her. She was no longer as naive as she had once been. She learned everything she could about banking and finance and figured out how to establish a secure Swiss bank account. After that, through Barracuda, she hacked into Lightning’s corporate bank accounts, siphoned out a considerable amount of money, and deposited it in her own account. And then, because she couldn’t help herself, she enacted a little more vengeance on Lightning. On the company’s homepage, she altered the slogan to “Committing Evil for 120 years” and animated their lightning logo so that it struck a kennel and set several cartoon dogs on fire. She also removed all the software products for sale on their website, replacing them with particularly horrible items like elephant tusks, rhino horns, and giant panda skins. Finally, she wiped out all of Lightning’s access codes.
Stuart Gibbs (Charlie Thorne and the Last Equation (Charlie Thorne, #1))
Horizon 2: Areas of focus and accountability—The segments of our life and work that we need to maintain, to ensure stability and health of ourselves and our enterprises (e.g., health, finances, customer service, strategic planning, family, career) Horizon 3: Goals and objectives—The mid- to longer-term outcomes to accomplish (usually within three to twenty-four months); e.g., “Finalize acquisition of Acme Consulting,” “Establish profitable online version of our leadership training course,” “Get Maria’s college plans finalized” Horizon 4: Vision—Long-term desired outcomes; ideal scenarios of wild success (e.g., “Publish my memoir,” “Take the company public,” “Have a vacation home in Provence”) Horizon 5: Purpose, principles—Ultimate intention, raison d’être, and core values of a person or enterprise (e.g., “To serve the growth of our community in ways that sustainably provide the greatest good for the greatest number of our citizens”)
David Allen (Getting Things Done: The Art of Stress-Free Productivity)
Everything tends to become a satellite - even our brains may be said to be outside us now, floating around us in the countless Hertzian ramifications of waves and circuits. This is not science fiction, merely a generalization of McLuhan's theory of the 'extensions of man' . Every aspect of human beings - their bodies in their biological, mental, muscular or cerebral manifestations - now floats free in the shape of mechanical or computer-aided replacement parts. McLuhan, however, conceives of all this as a positive expansion - as the universalization of man - through media. This is a very sanguine view. The fact is that all the functions of man's body, so far from gravitating around him in concentric order, have become satellites ordered excentrically with respect to him. They have gone into orbit on their own account; consequently it is man himself, in view of this orbital extraversion of his own functions, his own technologies, who is now in a position of ex-orbitation and ex-centricity. Vis-a-vis the satellites that he has created and put into orbit, it is man with his planet Earth, with his territory, with his body, who is now the satellite. Once transcendent, he has become exorbitate. It is not just the functions of man's body which, by becoming satellites, make man himself into a satellite. All those functions of our societies - notably the higher ones - which break off and go into orbit, contribute to the process. Loan, finance, the technosphere, communications - all have become satellites in an inaccessible space and left everything else to go to rack and ruin. Whatever fails to achieve orbital power is left in a state of abandonment which is permanent, since there is now no way out of it via some kind of transcendence.
Jean Baudrillard (The Transparency of Evil: Essays in Extreme Phenomena)
Unfortunately, the Bull that gilded Renaissance New York did little for most Americans. Eighties Wall Street was about institutional money released by deregulation, mergers and acquisitions, and, most of all, the debt that made it all possible. As John Kenneth Galbraith points out, financial euphoria always starts with new ways to borrow money; this time it was triggered by the Savings & Loan crisis. Volcker’s rocketing interest rates had forced S&Ls to offer double digits to new depositors while only getting back single digits on the old thirty-year mortgages on their books. S&Ls were going under, and getting a mortgage was nearly impossible, so in March 1980, with the banking system and the housing market on the brink, Carter had signed a law to allow them to issue credit cards, invest in commercial real estate, and offer checking accounts in order to stay in business. Reagan then took it a step further with a change that encouraged S&Ls to sell their mortgages in search of higher returns, freeing up a $1 trillion that needed to be invested in something. Which takes us back to Salomon Brothers, where in 1978 one Lew Ranieri had repackaged an old investment product the government had clamped down on during the Depression: A group of home mortgages all backed by government insurance would be bundled together, then sliced into bonds, thus converting the debt some people owed on their homes into an asset for others. Ranieri had been a bit ahead of the curve then—the same high interest rates that killed the S&Ls also made his bonds unattractive—but now deregulation let Salomon buy up the S&Ls’ mortgages at a deep discount, bundle them into bonds, and sell them back to the S&Ls who believed they’d diversified into the bond market when in fact they’d just bought ground meat made out of their own steaks. In June 1983, Salomon Brothers and Freddie Mac together issued the first collateralized mortgage obligation bonds (CMOs), which bundled up debt and cut it into tranches based on the amount of risk: you could choose between ground chuck and ground sirloin. It would be years before technology would allow doing this on a huge scale, but the immediate impact was that all kinds of debt, not just mortgages, were bundled, cut into bonds, and sold: credit card debt, car loans, you name it. Between 1983 and 1988, some $60 billion of CMOs were sold; GM’s financing arm became more profitable than its cars. America began to make debt instead of things. The
Thomas Dyja (New York, New York, New York: Four Decades of Success, Excess, and Transformation)
Glacier Wealth Management’s vision has been to build full-service wealth management, estate planning, and insurance advising firm. We recognize clients’ goals and needs are specifically unique to their individual situations. We manage finances through a comprehensive approach integrating investment advice, tax, and cost analysis strategies. We bridge the gap between financial advisors, accountants, attorneys, and insurance agents when structuring personal and business finances.
Glacier Wealth Management
Whether you realize it or not, you’re already an investor. Your money is having an impact somewhere, somehow. This is true even if all you have is a savings account. Every entity in which you save or invest your money is using your assets for some purpose. The question is whether this supports the things you value—or undermines them.
Janine Firpo (Activate Your Money: Invest to Grow Your Wealth and Build a Better World)
In 1947 the total value added by the financial sector to US gross domestic product was 2.3 per cent; by 2007 its contribution had risen to 8.1 per cent of GDP. In other words, approximately $1 of every $13 paid to employees in the United States now went to people working in finance.5 Finance had become even more important in Britain, where it accounted for 9.4 per cent of GDP in 2006.
Niall Ferguson (The Ascent of Money: A Financial History of the World)
Why the us government Should Maintain students Healthcare Claims education and learning is probably the finest ventures in ensuring the people stay a greater existence from the contemporary setting. Over time, education and learning methods have transformed to guarantee individuals gain access to it in the very best ways. Besides, the adjustment can be a purposeful relocate making sure that learning meets pupils distinct needs nowadays. Consequently, any country that is focused on establishing in the current technical period must be ready to devote in schooling no matter what. We appreciate that lots of claims have was able to meet the most affordable threshold in offering secondary and basic education. It is actually commendable for schooling is focused and attends on the needs in the present environment. In addition to, we certainly have observed reduced rates of dropouts due to correct education and learning systems into position. Nevertheless, it is not enough because there are many other factors that, in turn, lower the superiority of education. We appreciate the reality that educational costs is mainly purchased and virtually totally given through the express or low-successful businesses. Sadly, small is defined in range to be sure the unique treatment of learners. It has led to the indiscriminate govt accountability. Apart from putting everything in place, the government must also provide the proper healthcare of a learner because it' s the foundation of excellent learning. The arranged provision of health care to students is defined around the periphery, plus it is amongst the essential things that degrade the grade of training. Standard attendance is actually a necessity for pupils to acquire much more and carry out greater. For that reason, government entities need to ensure an original set up of arranged healthcare to pupils to ensure they are certainly not stored away from university because of health care problems. Re-Analyzing the goal of Government in mastering It can be only by re-dealing with government entitiesAnd#039; s role in supplying primary and secondary education and learning that people can completely set up the skewed the outdoors of learner’s health care and the desire to influence the state to reconsider it. The cause of why the government must pay for the student’s healthcare is that its responsibility is unbalanced. It provides maintained to purchase basic training effectively but has did not shield the health-related requirements of any learner. Aside from, it is suitably interested in increasing the size of young menAnd#039; s and ladiesAnd#039; s chances in obtaining technical and professional education. But it has not searched for has and aims unacceptable method of achieving the medical care requirements of any learner. As a result, education require is not met because its services are skewed. The possible lack of equilibrium in government activities replicates the malfunction to discrete primarily sharply amid the steps right for authorities financing and activities to become implemented. Financing healthcare for students, which is equally essential, is neglected, though Financing education is largely accepted. For that reason, this is a deliberate demand government entities to perform the circle by paying for student' s health care. When there is stability in federal government commitments in education and learning, its requirements will probably be fulfilled. So, the state should pay for pupil' s medical care. If they are healthful, they find out better. In addition to, a large stress will probably be lifted, and will also unquestionably raise enrolment in professional coachingcenters and colleges, along with other studying companies.
Sandy Miles
After earning a BS in Accounting and Finance from the University of Illinois, Brad Dean of Myrtle Beach commenced his career as one of the most sought-after turnaround architects in modern industry. In public and private sectors, he works to transform organizations, leading dynamic teams and teaching them how to develop and sustain profitable relationships with valuable partners.
Brad Dean Myrtle Beach
New global financial system Precisely for that same reason in August of 2011, Neil Keenan set up a meeting attended by a group of finance representatives from 57 different nations that came together off the coast of Monaco to discuss the foundation of a new global financial system, as a way of bringing down these Khazarians with their Central Banking and NWO-plans. Countries attending included Russia, China, Switzerland, The Netherlands, Brazil, Venezuela and many others, including various large power players; such as the ‘white hat’ faction (non-NWO) from The Pentagon and CIA. The East has most of the world’s gold and the documentation to legally bring down the corrupt institutions that have been illegally using the global collateral accounts. This ‘alliance’ decided to begin creating the new gold and asset-backed financial system. With this meeting heralded as the “shot heard around the world” for those “in the know”, several other nations joined later and have signed the Memorandum of Acknowledgment of this Agreement, which brought the alliance to a total of 182 participating countries. The Alliance Now, it should be clear that indeed there is a growing ‘alliance’ that is taking down the fraudulent banking cabal. Neil Keenan is about to open the global collateral accounts, which indeed is what all of the financial and political happenings on this planet have been about along– that is, ensuring complete control and the attempt to maintain secrecy over the global collateral accounts. Neil Keenan is about to do what JFK and Sukarno were close to accomplishing in 1963: the release of the global collateral accounts to completely transform the world for the better. The collateral gold assets lent to Kennedy, would have allowed him to use these assets /accounts to issue America’s own gold-backed currency ‘Treasury Notes,” that would have allowed America to break away from the false US Corporation and Federal Reserve - crime cartel - and further dismantle the rogue FBI, CIA agencies. If Kennedy and Sukarno had been successful, America would have been freed from the debt-based bondage system and the secret, Deep State government in 1963. This would also have freed the G20 nations that were being controlled by their respective central banking systems. And it also would have cancelled the unfair Bretton Woods Agreement.
You don’t have control over the money in your bank account. That's why the government hate Bitcoin and other blockchain-powered cryptocurrencies. Don’t forget that.
Olawale Daniel
Your CPA can help you: • Create a property budget • Deal with estimated tax payments • Set up and manage retirement accounts • Analyze complicated financing options • Handle all the tax returns
Michele Cagan (Real Estate Investing 101: From Finding Properties and Securing Mortgage Terms to REITs and Flipping Houses, an Essential Primer on How to Make Money with Real Estate (Adams 101))
some accounts initially refused to stock into a word-of-mouth bestseller. And for the next three years they bought For Dummies books, millions of them. And wrote us letters (maybe not millions of them, but lots). They thanked us for teaching them how to use their computer, their operating system, their applications. And they asked For Dummies books to apply those technologies to their lives. Our first response in 1994 was Personal Finance For Dummies, another bestseller. This coincided with another debut in 1994, the first World Wide Web conference, held in Geneva, Switzerland. The Web was introducing the Internet to computer users, and the role of the PC/Mac in peoples’ lives was changing again. Computing devices became microwave ovens of information, allowing people everywhere to explore every area of human interest and endeavor. So Internet For Dummies was published that year, winning a first-place award from the Computer Press Association. And so we looked beyond computing itself, to the areas of work and life the Internet could touch, to expand our list and reach. Our reach also expanded beyond the U.S., and even the English-speaking world. Before the
John Wiley & Sons (A Little Bit of Everything For Dummies)
8-bn hype balloon bursts: Govt finds nothing against Hasan Ali The case dates back to May 5, 2007, when searches were conducted at various properties owned by Khan. Hasan Ali was arrested in March 2011. ( Picture source: Express archive ) Maneesh Chhibber | 718 words Arrested in March 2011, Pune-based stud farm owner and alleged hawala operator Hasan Ali Khan faces charges of money laundering and tax evasion. The Income Tax department has asked him to pay a whopping Rs 1.16 lakh crore. But, less than a week before it demits office, the UPA government at the Centre has finally acknowledged that its tax evasion cases against Khan “may not be sustainable”. Confidential finance ministry documents accessed by The Indian Express say that the government has little hope of winning any of the Income Tax cases or appeals pending before various authorities against Khan. After protracted exchanges with various foreign governments and banks, including UBS Zurich, where Khan was supposed to have illegally parked $ 8 billion, the finance ministry has come to the conclusion that most of the tax cases against him may not stand judicial scrutiny. The case dates back to May 5, 2007, when searches were conducted at various properties owned by Khan. A laptop recovered during the searches contained scanned copies of documents stating that Ali had accounts in UBS Zurich, with deposits in excess of US$ 8 billion. The Enforcement Directorate (ED) also provided a copy of Khan’s notarised statement which indicated that he had opened an account in UBS Singapore, in 1982 with an opening deposit of US$ 1.5 million. The account was allegedly opened on the recommendation of arms dealer Adnan Khashoggi, who was also involved in the Bofors case. However, in its response to the letters sent by the Indian government, UBS said that while Khan held three accounts in the bank for some time in 2001, there was a transaction of only about US$ 60,700 in one of the accounts. The bank also claimed that all the other documents seized in the raids, including the one that indicated a deposit of US$ 8 billion, were false and fabricated. In order to rule out foul play, the government took the unusual step of sending the letters and documents received from the UBS management to the Swiss authorities for “independent confirmation” and verification. In December last year, the Swiss government informed the Indian government that the letters sent by UBS were “true and authenticated”. This information, sources said, has changed the entire case. Similarly, Malaysian authorities have also informed the government that a company which was reported to be owned by Khan, as per the documents seized during the searches, “doesn’t exist”. It is learnt that information has also been sought from many other countries under the double taxation avoidance agreements. In most cases, the proceedings against Khan, his wife Rheema Hasan Ali Khan and his associate Kashinath Tapuriah are pending adjudication before the Income Tax Appellate Tribunal (ITAT). As per the assessment orders passed by the Income Tax department for 2001-02 to 2010-11, Khan owes about Rs 37,000 crore as tax on concealed income. Add to this the interest (Rs 16,000 crore), penalty under Section 271 (1)(c) of the Income Tax Act (Rs 53,000 crore) and interest levied under Section 220 (2) of the Income Tax Act (Rs 10,000 crore) and the total sum that he is expected to pay is Rs 1.16 lakh crore. Khan’s wife has also been asked to pay Rs 97.33 crore, while a company which he owns — R M Investment & Trading Company Private Limited — has been directed to pay Rs 651.32 crore as unpaid tax, penalty and interest. Searches were also conducted at Tapuriah’s premises in Kolkata since the seized documents showed transfer of funds from UBS Zurich to Tapuriah’s wife Chandrika. The Income Tax department has asked Chandrika to pay Rs 47,000 crore, while Tapuriah has been told to pay over Rs 1,000 crore. In an opinion
The solutions to this systemic risk overhang are surprisingly straightforward. The immediate tasks would be to break up large banks and ban most derivatives. Large banks are not necessary to global finance. When large financing is required, a lead bank can organize a syndicate, as was routinely done in the past for massive infrastructure projects such as the Alaska pipeline, the original fleets of supertankers, and the first Boeing 747s. The benefit of breaking up banks would not be that bank failures would be eliminated, but that bank failure would no longer be a threat. The costs of failure would become containable and would not be permitted to metastasize so as to threaten the system. The case for banning most derivatives is even more straightforward. Derivatives serve practically no purpose except to enrich bankers through opaque pricing and to deceive investors through off-the-balance-sheet accounting.
James Rickards (The Death of Money: The Coming Collapse of the International Monetary System)
IT—especially with its role so greatly enlarged by the arrival of the Internet—has changed not only how we work and conduct business, but also how we (and our customers) play, how we consume, and how we educate our next generations. And yet the IT phenomenon, so evident in the expenditures of every organization, has not yet achieved management attention equal to other areas, such as finance, marketing, operations, and human resources. In far too many companies, IT remains a black box that business managers rarely try to see inside. When business managers do engage in IT discussions, often they bring little expertise to bear. Few feel apologetic about their IT inadequacies. But the time is coming when “I’m not an IT person” will be no more adequate as a manager’s defense in the aftermath of a major corporate problem than Jeff Skilling’s now notorious “I’m not an accountant”—that CEOs effort to explain his failure to foresee or prevent Enron’s spectacular implosion.
Robert D. Austin (Adventures of an IT Leader)
We have had campaign-finance reform, and reform of the seniority system in Congress, and endless rounds of anticorruption measures in the federal government. Calls for “transparency” and “accountability” have meant more administrative and judicial supervision. In turn, power flows to impersonal institutions (agency review boards, courts, and so on) and away from elected leaders who can get things done—and who can be punished at the ballot box for delay and disappointment.
Forget about earnings. That's a priesthood of the accounting profession," he would preach, unrelentingly. "What you're really after is appreciating assets. You want to own as much of that asset as you can; then you want to finance it as efficiently as possible." 6 And above all else, make sure that the deals you do avoid as much in taxes as is legally possible. And then some.
Mark Robichaux (Cable Cowboy: John Malone and the Rise of the Modern Cable Business)
Mom,” I said, “do you know where the family money is?” I thought it would be an easy question. After all, my father was a successful financial consultant and stockbroker who taught investment classes three nights a week. My mother had to be up to speed on the family finances. At first, however, she didn't reply. Then she squirmed slightly in her chair. “Of course I know where our money is,” she finally said. “Your father manages it.” “ But where is it? Do you know where he's got it invested?” “ Well, no, I don't. Your father handles all that.” “ But don't you have your own accounts, your own line of credit?” My mother laughed. “David,” she said, “what do I need a line of credit for? I have the best bank in the world—your father.
organizations. The book introduces the unrelated business rules (including a history of and rationale for these rules), analyzes the meaning of the term trade or business and the factors taken into account in determining whether a business is related or unrelated, explores the many modifications and exceptions that enrich this part of exempt organizations law, and summarizes the unrelated debt-financed income rules and the doctrine of commerciality. This book delves much deeper than I could in the The Law of Tax-Exempt Organizations (Eight Edition) , digging into topics such as the special rules for social clubs, the advertising rules, the corporate sponsorship rules, and the application of this aspect of
The new GST: A halfway house In spite of all the favourable features of the GST, it introduces the anomaly of having an origin-based tax on interstate trade he proposed GST would be a single levy. 1141 words From a roadblock during the UPA regime, the incessant efforts of the BJP government have finally paved way for the introduction of the goods and services tax (GST). This would, no doubt, be a major reform in the existing indirect tax system of the country. With a view to introducing the GST, Union finance minister Arun Jaitley has introduced the Constitution (122nd Amendment) Bill 2014 in Parliament. The new tax would be implemented from April 1, 2016. Both the government and the taxpayers will have enough time to understand the implications of the new tax and its administrative nuances. Unlike the 119th Amendment Bill, which lapsed with the dissolution of the previous Lok Sabha, the new Bill will hopefully see the light of the day as it takes into account the objections of the state governments regarding buoyancy of the tax and the autonomy of the states. It proposes setting up of the GST Council, which will be a joint forum of the Centre and the states. This council would function under the chairmanship of the Union finance minister with all the state finance ministers as its members. It will make recommendations to the Union and the states on the taxes, cesses and surcharges levied by the Union, the states and the local bodies, which may be subsumed in the GST; the rates including floor rates with bands of goods and services tax; any special rate or rates for a specified period to raise additional resources during any natural calamity or disaster etc. However, all the recommendations will have to be supported by not less than three-fourth of the weighted votes—the Centre having one-third votes and the states having two-third votes. Thus, no change can be implemented without the consent of both the Centre and the states. The proposed GST would be a single levy. It would aim at creating an integrated national market for goods and services by replacing the plethora of indirect taxes levied by the Centre and the states. While central taxes to be subsumed include central excise duty (CenVAT), additional excise duties, service tax, additional customs duty (CVD) and special additional duty of customs (SAD), the state taxes that fall in this category include VAT/sales tax, entertainment tax, octroi, entry tax, purchase tax and luxury tax. Therefore, all taxes on goods and services, except alcoholic liquor for human consumption, will be brought under the purview of the GST. Irrespective of whether we currently levy GST on these items or not, it is important to bring these items under the Constitution Amendment Bill because the exclusion of these items from the GST does not provide any flexibility to levy GST on these items in the future. Any change in the future would then require another Constitutional Amendment. From a futuristic approach, it is prudent not to confine the scope of the tax under the bindings of the Constitution. The Constitution should demarcate the broad areas of taxing powers as has been the case with sales tax and Union excise duty in the past. Currently, the rationale of exclusion of these commodities from the purview of the GST is solely based on revenue considerations. No other considerations of tax policy or tax administration have gone into excluding petroleum products from the purview of the GST. However, the long-term perspective of a rational tax policy for the GST shows that, at present, these taxes constitute more than half of the retail prices of motor fuel. In a scenario where motor fuel prices are deregulated, the taxation policy would have to be flexible and linked to the global crude oil prices to ensure that prices are held stable and less pressure exerted on the economy during the increasing price trends. The trend of taxation of motor fuel all over the world suggests that these items
Modern money is not necessarily a physical item or something with intrinsic value but is merely a medium of exchange and a record of account.
Cullen Roche (Pragmatic Capitalism: What Every Investor Needs to Know About Money and Finance)
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In the sample of accountants, 64 percent were ST, and among the finance and
Isabel Briggs Myers (Gifts Differing: Understanding Personality Type)
Perhaps it was because she had an accounting and finance background. These were usually neat, organized people, and Jones fit that description to a T.
Roger Stelljes (The St. Paul Conspiracy (McRyan Mystery, #1))
One American political figure saw Russia for the growing menace that it was and was willing to call Putin out for his transgressions. During President Obama’s reelection campaign, Mitt Romney warned of a growing Russian strategic threat, highlighting their role as “our number one geopolitical foe.”[208] The response from President Obama, Secretary Clinton, and other Democrats was not to echo his sentiment, but actually to ridicule Romney and support the Russian government. President Obama hurled insults, saying Romney was “stuck in a Cold War mind warp” [209] and in a nationally televised debate mocked the former governor, saying “the 1980s are now calling to ask for their foreign policy back…” [210] When asked to respond to Romney’s comment, Secretary Clinton refused to rebuke the over-the-top and false Obama campaign attacks. Instead, she delivered a message that echoed campaign talking points arguing that skepticism of Russia was outdated: “I think it’s somewhat dated to be looking backwards,” she said, adding, “In many of the areas where we are working to solve problems, Russia has been an ally.”[211] A month after Secretary Clinton’s statement on Romney, Putin rejected Obama’s calls for a landmark summit.[212] He didn’t seem to share the secretary’s view that the two countries were working together. It was ironic that while Obama and Clinton were saying Romney was in a “Cold War mind warp,”[213] the Russian leader was waging a virulent, anti-America “election campaign” (that’s if you can call what they did in Russia an “election”). In fact, if anyone was in a Cold War mind warp, it was Putin, and his behavior demonstrated just how right Romney was about Russia’s intentions. “Putin has helped stoke anti-Americanism as part of his campaign emphasizing a strong Russia,” Reuters reported. “He has warned the West not to interfere in Syria or Iran, and accused the United States of ‘political engineering’ around the world.”[214] And his invective was aimed not just at the United States. He singled out Secretary Clinton for verbal assault. Putin unleashed the assault Nov. 27 [2011] in a nationally televised address as he accepted the presidential nomination, suggesting that the independent election monitor Golos, which gets financing from the United States and Europe, was a U.S. vehicle for influencing the elections here. Since then, Golos has been turned out of its Moscow office and its Samara branch has come under tax investigation. Duma deputies are considering banning all foreign grants to Russian organizations. Then Putin accused U.S. Secretary of State Hillary Rodham Clinton of sending a signal to demonstrators to begin protesting the fairness of the Dec. 4 parliamentary elections.[215] [Emphasis added.] Despite all the evidence that the Russians had no interest in working with the U.S., President Obama and Secretary Clinton seemed to believe that we were just a Putin and Obama election victory away from making progress. In March 2012, President Obama was caught on a live microphone making a private pledge of flexibility on missile defense “after my election” to Dmitry Medvedev.[216] The episode lent credence to the notion that while the administration’s public unilateral concessions were bad enough, it might have been giving away even more in private. So it shouldn’t have been a surprise that Putin didn’t abandon his anti-American attitudes after he won the presidential “election.” In the last few weeks of Clinton’s tenure as Secretary of State, Putin signed a law banning American adoption of Russian children,[217] in a move that could be seen as nothing less than a slap in the face to the United States. Russia had been one of the leading sources of children for U.S. adoptions.[218] This disservice to Russian orphans in need of a home was the final offensive act in a long trail of human rights abuses for which Secretary Clinton failed to hold Russia accountable.
Stephen Thompson (Failed Choices: A Critique Of The Hillary Clinton State Department)
As I gather my thoughts here in order to get to the point, I am reminded of a joke Zafar made when he was still in banking. I say joke, but Zafar was always rather serious about banking and often talked about accountability, as he called it. This stuff is so esoteric, he once said, that the only people who understand it are in the business. What about regulators? I asked. Regulators, he replied, have one eye on the revolving door. Academics make money teaching traders their latest research, and politicians don’t know their arses from their elbows. Can you imagine the people on a march against finance? The guy on a megaphone shouting: What do we want? And everyone answering: Specific curbs on short selling in certain circumstances. When do we want it? In phases and at appropriate times. That’s the joke. It was funny at the time.
Zia Haider Rahman (In the Light of What We Know)
Cash flows from operating activities are the cash effects of revenue and expense transactions that are included in the income statement. 4 Cash flows from investing activities are the cash effects of purchasing and selling assets, such as land and buildings. Cash flows from financing activities are the cash effects of the owners investing in the company and creditors loaning money to the company and the repayment of either or both.
Williams (Financial & Managerial Accounting)
The truth, which should be apparent to anyone with a vaguely cynical soul, is that 3-D will always be the past, and is only being rammed down our throats as something excitingly ‘new’ right now because it is much harder to pirate 3-D films than good old flat ones. Big Hollywood studios want you to believe in 3-D because they want to carry on believing in their own bank accounts. It has nothing to do with ‘the future’ of cinema, merely the future of film finance.
Mark Kermode (It's Only a Movie: Reel Life Adventures of a Film Obsessive)
all cash inflows or outflows are separated into one of three categories: Cash flow from operating activities,  Cash flow from investing activities, and  Cash flow from financing activities. 
Mike Piper (Accounting Made Simple: Accounting Explained in 100 Pages or Less)
7 Traits you Need in an Employee to Really Help You Build Your Business As a counsel to new businesses, and a tutor many desiring business visionaries, despite everything i’m shocked at the number who are resolved to go at only it. Surprisingly more dreadful, when they make sense of that they truly require enable, the primary spot they to look is for an understudy or untrained helpers. They don’t understand that these lone increment their workload, because of preparing and administration, as opposed to offloading genuine work. Partners do what you say, while individuals more astute than you in their space do what you require, with no consideration from you. Truth be told, if you are focusing, you can really gain from what they do. For instance, creators need to stay with their imaginative abilities, and discover an accomplice who knows how to construct a business around it. That is a win-win for the two accomplices. In this manner top business people invest as much energy getting the correct group set up to maintain the business as building the item or administration. Tragically, some are so enamored with themselves (narcissistic), that they can’t be persuaded that any other person could run their accounts, or go up against marketing.True pioneers know how to appoint and tune in, and let others do what they know best. So, in case you’re executing yourself with work, and following up on everything about, might need to take a gander at your group to guarantee you’ve encircle yourself with the privilege people.Of course, the correct ones may cost you value, yet a little level of a major business is worth much more to you than a substantial piece of nothing. Here are a few ascribes to search for in the general population you require: 1. Related knowledge and abilities to supplement your qualities Would you endeavor to fabricate the place you had always wanted, with arbitrary assistants demonstrating no involvement? Discover an accomplice who has managed the substances of innovation, devices, and financing. A startup has enough questions, without numbness of the nuts and bolts. Try not to rehash the oversights of others. 2. Demonstrated reputation of completing things Diligent work is important, however not adequate to begin another business. Building a decent arrangement, and measuring against that arrangement is pivotal to developing any business. Regularly individuals with cutting edge degrees have scholarly smarts, however are not closers. You can’t stand to settle on each choice, or follow-up on each activity. 3. Create and propose their own concern arrangements How regularly do the general population around you prescribe arrangements, as opposed to feature issues? In case you’re cooperating with individuals who are more astute than you, you ought to be as often as possible amazed with their new thoughts and arrangements. You may not generally concur, but rather you will be always gaining from them. 4. Reliably enthusiastic and positive in a part The savvy individuals you need are as positive and enthusiastic about your business as you seem to be. They assume possession and liability for their activities. They persuade you with their activities that they comprehend the master plan. They contend unhesitatingly and intentionally, as opposed to protectively. 5. Invest more energy tuning in than talking It’s hard for colleagues to learn while they are talking. Search for colleagues who are attentive people, where you end up searching them out, as opposed to dependably the a different way. It’s awesome to group with individuals that you can imagine working for sometime in the not so distant future, or taking control of your business. 6. Push you to concentrate on vital components and being a superior pioneer You require individuals around you asking the correct inquiries, and testing you on key issues, as opposed to the emergency of the day.
Accountability for agency operations is fragmented. Each office in a network is a separate profit center. Each department in an office self-defines its missions. Creative heads focus on creativity; finance directors focus on headcounts, overhead and budgeted/ actual costs and profits; client heads manage the service that they provide to their ‘disorganized’ clients and keep them coming back for more. (Despite this there seem to be very few happy clients.) Managing
Michael Farmer (Madison Avenue Manslaughter: An Inside View of Fee-Cutting Clients, Profithungry Owners and Declining Ad Agencies)
Part 1 Milestones 1. Determine what really matters to you and the steps you need to take to lead a happier life. 2. Get serious about your finances. Figure out how much income you can generate in retirement. 3. Map out exactly what you can expect from Social Security, retirement accounts, pension, and taxable investments. 4. Estimate future expenses and needs. 5. Calculate a realistic budget that helps you find your happiness. It’s a lot, I know! But these five steps will help you lay the groundwork for your retirement.
Melissa Phipps (The Retirement Rescue Plan: Retirement Planning Solutions for the Millions of Americans Who Haven't Saved "Enough")
The UPA government, instead of implementing the Supreme Court order—which would have been the defining indicator of its bona fides in retrieving the black money looted from the people of India— instead demanded a recall of the order. This establishes its complete mala fide, connivance and conspiracy, and confirms that it has no intention of taking any substantive steps to recover the black money stashed away abroad, or take any serious action to combat this grievous economic crime impoverishing our nation—the 21st century version of UPA imperialism. The nation should be informed that no investigation has taken place regarding the issues before it since the Supreme Court judgement, but the finance minister chose to conceal these extremely pertinent facts in his Paper. The White Paper coyly discussed the dimensions of black money stashed away abroad by quoting statistics that are more than a decade old, saying that these are being researched upon by three agencies whose report is expected in September 2012. From this it would appear that the government had no knowledge of the quantum of black money lying abroad. One wonders why the government presented the paper at this stage. Interestingly, the Paper officially disclosed a figure regarding Indian accounts held with Swiss banks, at around only US $213 billion (as against $88 billion projected by the International Monetary Fund, and $213.2 billion by GFI), down 60% between 2006 and 2010. A reasonable conclusion that can be drawn is that black money holders, in anticipation of international and national public pressure (not governmental) transferred their money to other safe havens, the safest, it is said, being India. The last two years have seen several enabling statutes and mechanisms to stealthily repatriate the ill-gotten wealth back to India. I am also given to understand that there is evidence of a huge disparity between export figures, particularly of metals quoted by the government, and actual exports through data available from independent sources. The same applies to figures regarding FIIs. The game is clear. Use every government tool and instrument available to repatriate the money to India, without disclosure, culpability or punishment. There must be ways, and ways that we can never fathom or document, but the black money holders control legislation, either through being important politicians, or big businesses, who can buy safe passage, necessary loopholes and escape routes through statute or legislation. The finance minister through his negligence and active cooperation with the criminals allowed the stolen money to be removed from the accounts in which it was held and only a small fraction now remains, which too he is determined to place beyond the reach of the people of India who are its legitimate owners.
I have known its fascination since: I have seen the mysterious shores, the still water, the lands of brown nations, where a stealthy Nemesis lies in wait, pursues, overtakes so many of the conquering race, who are proud of their wisdom, of their knowledge, of their strength. But for me all the East is contained in that vision of my youth. It is all in that moment when I opened my young eyes on it. I came upon it from a tussle with the sea—and I was young—and I saw it looking at me. And this is all that is left of it! Only a moment; a moment of strength, of romance, of glamour—of youth!... A flick of sunshine upon a strange shore, the time to remember, the time for a sigh, and—good-bye!—Night—Good-bye...!” He drank. “Ah! The good old time—the good old time. Youth and the sea. Glamour and the sea! The good, strong sea, the salt, bitter sea, that could whisper to you and roar at you and knock your breath out of you.” He drank again. “By all that’s wonderful, it is the sea, I believe, the sea itself—or is it youth alone? Who can tell? But you here—you all had something out of life: money, love—whatever one gets on shore—and, tell me, wasn’t that the best time, that time when we were young at sea; young and had nothing, on the sea that gives nothing, except hard knocks—and sometimes a chance to feel your strength—that only—what you all regret?” And we all nodded at him: the man of finance, the man of accounts, the man of law, we all nodded at him over the polished table that like a still sheet of brown water reflected our faces, lined, wrinkled; our faces marked by toil, by deceptions, by success, by love; our weary eyes looking still, looking always, looking anxiously for something out of life, that while it is expected is already gone—has passed unseen, in a sigh, in a flash—together with the youth, with the strength, with the romance of illusions.
Joseph Conrad (Youth)
The answer to information asymmetry is not always the provision of more information, especially when most of this ‘information’ is simply noise, or boilerplate (standardised documentation bolted on to every report). Companies justifiably complain about the ever-increasing volume of data they are required to produce, while users of accounting find less and less of relevance in them. The notion that all investors have, or could have, identical access to corporate data is a fantasy, but the attempt to make it a reality generates a raft of regulation which inhibits engagement between companies and their investors and impedes the collection of substantive information that is helpful in assessing the fundamental value of securities. In the terms popularised by the American computer scientist Clifford Stoll, ‘data is not information, information is not knowledge, knowledge is not understanding, understanding is not wisdom’.9 In
John Kay (Other People's Money: The Real Business of Finance)
NRE, FCNR, NRO or inward remittances, the amount can only be credited to the NRO account. The company may accept deposits under a private arrangement or public deposit scheme. A non-banking finance company (NBFC) is required to get registered with RBI and follow the RBI guidelines. Any firm or company accepting deposits are not allowed to use the funds for agricultural/plantation activities, real estate business or investing in other concerns engaged in these activities. Also, the funds cannot be used for re-lending (except NBFC) or repatriated outside India.
Jigar Patel (NRI Investments and Taxation: A Small Guide for Big Gains)
Of course, the topography of global finance has changed dramatically since the heyday of the House of Rothschild. Today there are no family-owned global institutions of any significance. Huge publicly listed banks, asset managers, private equity firms, hedge funds, and insurance companies dominate and operate around the globe. Regulators are powerful and ubiquitous. But some things remain constant. Global finance is not for the fainthearted; it is too complex, too volatile, too dependent on uncontrollable political events within and among countries. Global finance also relies heavily on trust between the suppliers and consumers of money. Mayer Amschel Rothschild and his sons were the essence of trustworthiness. Garnering trust has many dimensions, one of which is accountability. If a banker is held responsible for his mistakes, then his customer has more confidence in him. The Rothschilds could not hide behind public corporations that today essentially shield top individuals from the legal liability of big mistakes, as we have seen in the failure of prosecutors to charge and convict senior financial officials in the global crisis of 2008–9. Unfortunately, few institutions today can command the confidence that the Rothschilds engendered and that is essential to a healthy global economy. Other
Jeffrey E. Garten (From Silk to Silicon: The Story of Globalization Through Ten Extraordinary Lives)
income, expenses, and finances: How much debt do I want to carry, and for what purpose? Would I like to pay off one or more of my credit accounts? By when? How much money do I want to make next month? Next year? Five years from now? What expenses do I want to cut down or cut out? — My home and community: What changes do I want to make in my current living environment? Do I want to fix up my home or yard? Do I want to move? What is my ideal home like? Where is it? What is my personal corner or room like? Does it have a garden, pool, or pond? Is it near the ocean, a lake, the desert, or mountains? Is it in the city or the country? What part of the world do I live in? What is my neighborhood like? What community projects am I involved in, if any? — My spiritual life: How much time do I want to devote to spiritual practices, such as meditation, classes, church, volunteer work, and so on? What books do I want to read? What classes do I want to take? What spiritual teachers, authors, or leaders do I want to meet, listen to, and/or work with? What spiritual power places do I want to visit, with whom, and when? What spiritual projects do I want to work on? What spiritual gift do I want to give to others? — My health and fitness: What changes do I want to make in my health and fitness? How much time per day or week do I want to spend exercising? What type of exercise program would I most enjoy and benefit from? Where would I exercise? With whom? What physical healings do I want? If I were to manifest my true natural state of perfect health right now, what would my body be like? About what weight or fat percentage would my body feel comfortable and healthy being? What types of foods would be in my regular diet? What would my ideal sleeping pattern be? How would I deal with stress or tension? What unnecessary stressors do I want to get rid of? What toxins (emotional or physical) can I eliminate from my diet or life? — My family life: What type of family life do I want? What about children? How much time do I want to spend with my kids? What do I want to teach or share with them? How can I be closer to my family and/or spend more quality time with them? What type of
Doreen Virtue ("I'd Change My Life If I Had More Time")
ROCE: are you getting the best return on your investment?   As mentioned above, the ROE’s weakness is that it only takes into consideration the equity of a company, not accounting for the proportion of debt.   The return of capital employed (ROCE) fixes this problem because it takes into consideration the fixed assets (i.e., the investment that is employed to produce value).
Georgi Tsvetanov (Visual Finance: The One Page Visual Model to Understand Financial Statements and Make Better Business Decisions)
Few industries have enough cash to cover their debt without having to count on selling inventory or converting receivables to cash.   A healthy cash ratio is considered to be between 0.5 and 1.   Liquidity ratios are helpful way to measure if a company is at risk of not being able to pay its debt. However, some critics point out that those ratios are past-oriented and cannot predict future cash problems.   Also, such ratios can be misleading because of creative accounting practices (a topic we will cover later on), especially because accounts receivable might be inflated or inventory could be wrongly estimated.
Georgi Tsvetanov (Visual Finance: The One Page Visual Model to Understand Financial Statements and Make Better Business Decisions)
The problem is that this feeling is totally illusory. Focusing on these details is the easiest way to get nothing done. Imagine the last time you and your friend talked about finances or fitness. Did you go for a run afterward? Did you send money to your savings account? Of course not. People
Ramit Sethi (I Will Teach You To Be Rich)
Doing a No-Spend Challenge for longer than a month is hard, but it’s an extremely efficient way to change your life and bank account. And I love efficiency. Doing a challenge over multiple months means you’ll likely experience every temptation your life has to offer —often multiple times —and you’ll see your financial growth a lot faster.
Jen Smith (The No-Spend Challenge Guide: How to Stop Spending Money Impulsively, Pay off Debt Fast, & Make Your Finances Fit Your Dreams)
both Tesla and GM think battery prices will come down fast enough for electric cars to be more affordable than equivalent gasoline cars by the early 2020s. The Chevy Bolt sells for less than $35,000, after subsidies. Tesla plans to be producing Model 3s at a rate of hundreds of thousands a year by 2019. Other electric car companies, new and old, are developing competitive strategies. It is still difficult to predict how quickly the sales of electric cars will overtake those of gasoline vehicles. Even assuming all goes well for Tesla and their electric competitors, it could take years, or decades. Bloomberg New Energy Finance’s study estimated that electric cars will account for 35 percent of new car sales by 2040. That’s based on battery prices decreasing at a slower rate than Tesla and GM anticipate. But, as noted earlier, gasoline cars will face the difficult task of competing with electric cars that are both cheaper and better.
Hamish McKenzie (Insane Mode: How Elon Musk's Tesla Sparked an Electric Revolution to End the Age of Oil)
quite clear on questions of finance, and saw to a “t” how progress should be made towards communism, so that no violence should disturb that progress, and that in the due course of centuries all desire for personal property should be conquered and annihilated by a philanthropy so general as hardly to be accounted a virtue. In the meantime he could never contrive to pay his tailor’s bill regularly out of the allowance of £400 a year which his father made him, and was always dreaming of the comforts of a handsome income.
Anthony Trollope (Complete Works of Anthony Trollope)
Infomate Sri Lanka is an established BPO service provider with a global presence. Specializing in Accounting Outsourcing, Payroll & Data Digitization services. As a veteran accounting outsource services provider, Infomate utilizes qualified and experienced teams & individuals from one of the largest pools of accountants globally, Sri Lanka. Coupled with our diversity of use in accounting tools and our own custom platforms, we are the dependable choice for your accounting and finance operations.
Infomate BPO Sri Lanka
Many investors believe that a law of finance dictates that policy allocation decisions dominate portfolio returns, relegating market timing and security selection actions to secondary status. In a 2000 study, Roger Ibbotson and Paul Kaplan survey a number of articles on the contribution of asset allocation to investment returns. The authors note that “[o]n average, policy accounted for a little more than all of total return,” implying that security selection and market timing make no material contribution to returns.1 In another nod to the centrality of the asset-allocation decision, Ibbotson and Kaplan conclude that “. . . approximately 90 percent of the variability of a fund’s return across time is explained by the variability of policy returns.”2
David F. Swensen (Pioneering Portfolio Management: An Unconventional Approach to Institutional Investment, Fully Revised and Updated)
The key to achieving our goals and enhancing human values is to maintain and continually improve a democratic financial system that takes account of the diversity of human motives and drives. We need a system that allows people to make complex and incentivizing deals to further their goals, and one that allows an outlet for our aggressions and lust for power. It must be a system that redirects the inevitable human conflicts into a manageable arena, an arena that is both peaceful and constructive.
Robert J. Shiller (Finance and the Good Society)
The important point about international business is that these firms have account payables or receivables in foreign currencies. A change in the exchange rate makes their payables or receivables in domestic currency smaller or larger in terms of their home currency.
Ayse Evrensel (International Finance For Dummies)
IRA funds became a form of play money for the middle class... Because the pool of capital that made up an IRA could not be withdrawn for twenty or thirty years, many people viewed their IRAs as containing money they could experiment with. They could use an IRA to buy their first stock or their first mutual fund. They could put in in a money market fund first, and then, as they got bolder - and the bull market became more irresistible - shift some of it into something a little riskier. IRAs gave people a way to try on the stock and bond markets for size, to see how they felt, and to become slowly comfortable with the idea of investing. The knowledge that the money couldn't easily be withdrawn acted as a psychological safety net, allowing investors to feel as though they could take a chance or two. If they made a mistake, they reasoned, there was still time to recoup - several decades, perhaps.Over time, many people came to believe that it as imperative to maximize the returns they were getting on their IRA account, even at the risk of taking a loss. How else would they ever have enough to retire on? This, surely, is the classic definition of investment capital.
Joe Nocera (A Piece of the Action: How the Middle Class Joined the Money Class)
Conservative elites first turned to populism as a political strategy thanks to Richard Nixon. His festering resentment of the Establishment’s clubby exclusivity prepared him emotionally to reach out to the “silent majority,” with whom he shared that hostility. Nixon excoriated “our leadership class, the ministers, the college professors, and other teachers… the business leadership class… they have all really let down and become soft.” He looked forward to a new party of independent conservatism resting on a defense of traditional cultural and social norms governing race and religion and the family. It would include elements of blue-collar America estranged from their customary home in the Democratic Party. Proceeding in fits and starts, this strategic experiment proved its viability during the Reagan era, just when the businessman as populist hero was first flexing his spiritual muscles. Claiming common ground with the folkways of the “good ole boy” working class fell within the comfort zone of a rising milieu of movers and shakers and their political enablers. It was a “politics of recognition”—a rediscovery of the “forgotten man”—or what might be termed identity politics from above. Soon enough, Bill Clinton perfected the art of the faux Bubba. By that time we were living in the age of the Bubba wannabe—Ross Perot as the “simple country billionaire.” The most improbable members of the “new tycoonery” by then had mastered the art of pandering to populist sentiment. Citibank’s chairman Walter Wriston, who did yeoman work to eviscerate public oversight of the financial sector, proclaimed, “Markets are voting machines; they function by taking referenda” and gave “power to the people.” His bank plastered New York City with clever broadsides linking finance to every material craving, while simultaneously implying that such seductions were unworthy of the people and that the bank knew it. Its $1 billion “Live Richly” ad campaign included folksy homilies: what was then the world’s largest bank invited us to “open a craving account” and pointed out that “money can’t buy you happiness. But it can buy you marshmallows, which are kinda the same thing.” Cuter still and brimming with down-home family values, Citibank’s ads also reminded everybody, “He who dies with the most toys is still dead,” and that “the best table in the city is still the one with your family around it.” Yale preppie George W. Bush, in real life a man with distinctly subpar instincts for the life of the daredevil businessman, was “eating pork rinds and playing horseshoes.” His friends, maverick capitalists all, drove Range Rovers and pickup trucks, donning bib overalls as a kind of political camouflage.
Steve Fraser (The Age of Acquiescence: The Life and Death of American Resistance to Organized Wealth and Power)
Instead of a central finance function tracking if funds are utilized as per plan, we have outcome owners accountable for realizing value out of pre-approved funds tied to outcomes rather than plans.
Sriram Narayan (Agile IT Organization Design: For Digital Transformation and Continuous Delivery)
Finance was the leading industry to which government opened the growth gates, as it had done previously for manufacturing, railways, suburban housing, and advanced technology. Beginning seriously in the 1980s, government deliberately, piece by piece, dismantled the regulatory structure that had tamed finance into something of a utility. And as in the past, entrepreneurs rushed in and innovated. The lucrative innovations ranged from collateralized debt obligations (CDOs—called by Warren Buffett “financial weapons of mass destruction”) and the like, on through high-speed trading (to us, a robotized cousin of front-running).4 The increase of the weight of finance in America’s GDP came about not so much by increasing the numbers of those employed in the sector, but by increasing the take of those high up in the industry. During the 1970s, average pay in finance was roughly the same as in most other industries; by 2002, it was double.5 The legions of clerks and tellers remained poorly paid; the gain went to the top, most of it to the top of the top. By 2005, finance accounted for a full 40 percent of all corporate profits. And many of the very most lucrative parts of finance—hedge funds, private equity partnerships, venture partnerships—were not structured and therefore not counted as corporations. Along with the accountants and consultants, add to this profit-making machine the Wall Street law firms that are part and parcel of finance, although they do not count as finance, but rather as business services. Finance got considerably more than 40 percent.
Stephen S. Cohen (Concrete Economics: The Hamilton Approach to Economic Growth and Policy)
But the current investment banking model—whether applied in a standalone institution such as Goldman or in a broad financial conglomerate such as Deutsche Bank—is at the heart of the problems the finance sector poses for the real economy. Investment banks today engage in securities issuance, corporate advice and asset management; they make markets in equities and FICC, and trade in these markets on their own account. It is only necessary to list these functions to see that each of these activities conflicts with all the others. Each should be undertaken in distinct institutions. And with lower volumes of inter-bank trading, a diminished role for public equity markets and much more direct investment by asset managers the scale of most of these activities should be much reduced. Among all the actors in the finance sector today, only the asset manager, who typically earns a fee calculated as a percentage of funds under management, is rewarded for idleness. The profits of a segregated deposit-taking bank would similarly depend primarily on the scale of the deposit base, and secondarily on its success in making good loans. Dedicated channels of capital allocation have a more appropriate incentive structure than activities focused on trading and transactions. Whenever
John Kay (Other People's Money: The Real Business of Finance)
IRA’s & 401k’s are awesome since they let the magic of compound interest do its thing over time. Think of compound interest as fine wine—it gets better as it ages. There are two types of IRA’s, Roth and Traditional. You can also have a Rollover IRA of each one, where you “rollover” your old 401k from an old employer. Both types, have a contribution limit of $5500 (2016 limit, $6500 if you’re 50+ years old). Here’s an example: If you start at the age of 25 with $5,500 and continue to contribute $5,500 every year until retirement age, your account could be worth a million or more assuming you have a hefty return every year (Google IRA calculator if you don’t believe me).
Jay Breezy (Thug Finance: Money Management Tips for the Thug in Us All)
The New Yorker (The New Yorker) - Clip This Article on Location 1510 | Added on Wednesday, June 10, 2015 5:42:23 PM FICTION THE DUNIAZáT BY SALMAN RUSHDIE   In the year 1195, the great philosopher Ibn Rushd, once the qadi , or judge, of Seville and most recently the personal physician to the Caliph Abu Yusuf Yaqub in his home town of Córdoba, was formally discredited and disgraced on account of his liberal ideas, which were unacceptable to the increasingly powerful Berber fanatics who were spreading like a pestilence across Arab Spain, and was sent to live in internal exile in the small village of Lucena, a village full of Jews who could no longer say they were Jews because they had been forced to convert to Islam. Ibn Rushd, a philosopher who was no longer permitted to expound his philosophy, all of whose writing had been banned and burned, felt instantly at home among the Jews who could not say they were Jews. He had been a favorite of the Caliph of the present ruling dynasty, the Almohads, but favorites go out of fashion, and Abu Yusuf Yaqub had allowed the fanatics to push the great commentator on Aristotle out of town. The philosopher who could not speak his philosophy lived on a narrow unpaved street in a humble house with small windows and was terribly oppressed by the absence of light. He set up a medical practice in Lucena, and his status as the ex-physician of the Caliph himself brought him patients; in addition, he used what assets he had to enter modestly into the horse trade, and also financed the making of tinajas , the large earthenware vessels, in which the Jews who were no longer Jews stored and sold olive oil and wine. One day soon after the beginning of his exile, a girl of perhaps sixteen summers appeared outside his door, smiling gently, not knocking or intruding on his thoughts in any way, and simply stood there waiting patiently until he became aware of her presence and invited her in. She told him that she was newly orphaned, that she had no source of income, but preferred not to work in the whorehouse, and that her name was Dunia, which did not sound like a Jewish name because she was not allowed to speak her Jewish name, and, because she was illiterate, she could not write it down. She told him that a traveller had suggested the name and said it was Greek and meant “the world,” and she had liked that idea. Ibn Rushd, the translator of Aristotle, did not quibble with her, knowing that it meant “the world” in enough tongues to make pedantry unnecessary. “Why have you named yourself after the world?” he asked her, and she replied, looking him in the eye as she spoke, “Because a world will flow from me and those who flow from me will spread across the world.” Being a man of reason, Ibn Rushd did not guess that the girl was a supernatural creature, a jinnia, of the tribe of female jinn: a grand princess of that tribe, on an earthly adventure, pursuing her fascination with human men in general and brilliant ones in particular.
CFO GOALS Health of company Revenue Market share Average order size Profitability Return on assets Health of Finance Order to cash cycle Accounts receivable Accurate and timely financial reporting Borrowing costs
Gene Kim (The Phoenix Project: A Novel About IT, DevOps, and Helping Your Business Win)
even organizational leaders who did go to business school aren’t necessarily fully equipped to make the best decisions and manage as effectively as they are capable of doing. The reason is that most business schools teach subjects separately— finance, accounting, marketing, and so on—rather than integrating them to mimic the realities of day-to-day leadership and management.
David Goldsmith (Paid to Think: A Leader's Toolkit for Redefining Your Future)
Countries competing against one another in the same array of products and services is not covered by Ricardian trade theory.   Offshoring doesn’t fit the Ricardian or the competitive idea of free trade. In fact, offshoring is not trade.   Offshoring is the practice of a firm relocating its production of goods or services for its home market to a foreign country. When an American firm moves production offshore, US GDP declines by the amount of the offshored production, and foreign GDP increases by that amount. Employment and consumer income decline in the US and rise abroad. The US tax base shrinks, resulting in reductions in public services or in higher taxes or a switch from tax finance to bond finance and higher debt service cost.   When the offshored production comes back to the US to be marketed, the US trade deficit increases dollar for dollar. The trade deficit is financed by turning over to foreigners US assets and their future income streams. Profits, dividends, interest, capital gains, rents, and tolls from leased toll roads now flow from American pockets to foreign pockets, thus worsening the current account deficit as well.   Who benefits from these income losses suffered by Americans? Clearly, the beneficiary is the foreign country to which the production is moved. The other prominent beneficiaries are the shareholders and the executives of the companies that offshore production. The lower labor costs raise profits, the share price, and the “performance bonuses” of corporate management.   Offshoring’s proponents claim that the lost incomes from job losses are offset by benefits to consumers from lower prices. Allegedly, the harm done to those who lose their jobs is more than offset by the benefit consumers in general get from the alleged lower prices. Yet, proponents are unable to cite studies that support this claim. The claim is based on the unexamined assumption that offshoring is free trade and, thereby, mutually beneficial.   Proponents of jobs offshoring also claim that the Americans who are left unemployed soon find equal or better jobs. This claim is based on the assumption that the demand for labor ensures full employment, and that people whose jobs have been moved abroad can be retrained for new jobs that are equal to or better than the jobs that were lost.   This claim is false.
Paul Craig Roberts (The Failure of Laissez Faire Capitalism and Economic Dissolution of the West)
Along with the other items presented in the budget document, the finance minister submits the Annual Financial Statement which consists of estimated receipts and spending, which are operated through three separate accounts: (i) the Consolidated Fund, (ii) the Contingency Fund, and (iii) the Public Account.
Satish Y. Deodhar (Day To Day Economics: Day to Day Economics)
It is untrue that I or anybody else in Germany wanted war in 1939. It was desired and instigated exclusively by those international statesmen who were either of Jewish origin or working for Jewish interests. I have made so many offers for the reduction and elimination of armaments, which posterity cannot explain away for all eternity, that the responsibility for the outbreak of this war cannot rest on me. Furthermore, I never desired that after the first terrible World War a second war should arise against England or even against America. Centuries may pass, but out of the ruins of our cities and monuments of art there will arise anew the hatred for the people who alone are ultimately responsible: International Jewry and its helpers! As late as three days before the outbreak of the German-Polish War, I proposed to the British Ambassador in Berlin a solution for the German-Polish problem -- similar to the problem of the Saar area, under international control. This offer cannot be explained away, either. It was only rejected because the responsible circles in English politics wanted the war, partly in the expectation of business advantages, partly driven by propaganda promoted by international Jewry. But I left no doubt about the fact that if the peoples of Europe were again only regarded as so many packages of stock shares by these international money and finance conspirators, then that race, too, which is the truly guilty party in this murderous struggle would also have to be held to account: the Jews! I further left no doubt that this time we would not permit millions of European children of Aryan descent to die of hunger, nor millions of grown-up men to suffer death, nor hundreds of thousands of women and children to be burned and bombed to death in their cities, without the truly guilty party having to atone for its guilt, even if through more humane means.
Adolf Hitler
Zero Line Spender, Saver, Wealth Creator Your financial personality type determines your financial position in life. Let’s say there is a zero financial line that represents a position where you owe nothing and have nothing. Perhaps you can remember those days getting started on your own. So, let us assume you just graduated from college and you’re one of the lucky few who graduated at the zero line, you owe nothing. Pretty amazing considering that in 2013, the debt on student loans exceeded all credit card debt owed in America. But fortunately, you made it out free and clear to the zero line. You’re a “Spender” so you go to the showroom and pick one out. With your job and the car as collateral, you get a car loan and you drop below the zero line. You lifestyle gets more and more expensive and since you are a ‘Spender” you probably take on credit card debt to help finance your lifestyle desires. You are constantly working your way back to becoming a zero, financially speaking. Then, you get married and now there are two in debt working their way back to zero. Eventually, children come along, and the odds of being able to put away enough money to pay your debt and interest and live on the top side of the zero line are becoming virtually impossible. Unfortunately, many Americans live in this position with little or no chance of ever living debt free. When something comes along that requires their savings, they must deplete their funds in order to avoid paying interest and then they must start saving again for their next expense. They are constantly returning to the zero line. The money they have accumulated is compounding interest, giving them uninterrupted growth. Having access to capital allows them to negotiate more favorable loans by collateralizing against their accounts rather than depleting them. They make payments to the lending institution with dollars from their current cash flow, protecting the growth of the money they have saved and invested for their future. Saving and investing with uninterrupted compounding is an important wealth concept for moving further and further away from the zero line.
Annette Wise
Chasing tax cheats using normal procedures was not an option. It would take decades just to identify anything like the majority of them and centuries to prosecute them successfully; the more we caught, the more clogged up the judicial system would become. We needed a different approach. Once Danis was on board a couple of days later, together we thought of one: we would extract historical and real-time data from the banks on all transfers taking place within Greece as well as in and out of the country and commission software to compare the money flows associated with each tax file number with the tax returns of that same file number. The algorithm would be designed to flag up any instance where declared income seemed to be substantially lower than actual income. Having identified the most likely offenders in this way, we would make them an offer they could not refuse. The plan was to convene a press conference at which I would make it clear that anyone caught by the new system would be subject to 45 per cent tax, large penalties on 100 per cent of their undeclared income and criminal prosecution. But as our government sought to establish a new relationship of trust between state and citizenry, there would be an opportunity to make amends anonymously and at minimum cost. I would announce that for the next fortnight a new portal would be open on the ministry’s website on which anyone could register any previously undeclared income for the period 2000–14. Only 15 per cent of this sum would be required in tax arrears, payable via web banking or debit card. In return for payment, the taxpayer would receive an electronic receipt guaranteeing immunity from prosecution for previous non-disclosure.17 Alongside this I resolved to propose a simple deal to the finance minister of Switzerland, where so many of Greece’s tax cheats kept their untaxed money.18 In a rare example of the raw power of the European Union being used as a force for good, Switzerland had recently been forced to disclose all banking information pertaining to EU citizens by 2017. Naturally, the Swiss feared that large EU-domiciled depositors who did not want their bank balances to be reported to their country’s tax authorities might shift their money before the revelation deadline to some other jurisdiction, such as the Cayman Islands, Singapore or Panama. My proposals were thus very much in the Swiss finance minister’s interests: a 15 per cent tax rate was a relatively small price to pay for legalizing a stash and allowing it to remain in safe, conveniently located Switzerland. I would pass a law through Greece’s parliament that would allow for the taxation of money in Swiss bank accounts at this exceptionally low rate, and in return the Swiss finance minister would require all his country’s banks to send their Greek customers a friendly letter informing them that, unless they produced the electronic receipt and immunity certificate provided by my ministry’s web page, their bank account would be closed within weeks. To my great surprise and delight, my Swiss counterpart agreed to the proposal.19
Yanis Varoufakis (Adults in the Room: My Battle with Europe's Deep Establishment)
The BCCI has repeatedly shied away from disclosure, citing itself as a private entity. However, it isn't completely private either, especially since it has monopoly rights over something consumed by a large number of people. It earns from franchise owners and television networks. They, in turn, recover their money from advertisers, who ultimately pass on advertising costs to consumers, built into the price products. Thus, the consumers, we Indians, pay for the BCCI. And since it is a monopoly, we have every right to question their finances. How does the BCCI price its rights? Where is the BCCI money going? The media and lawmakers have a chance to go after this completely feudal and archaic way of managing something as pure and simple as sport. Individuals are less important than changing the way things work. What needs to be at the forefront is sport; are we using the money to help develop it in the country? We don't have to turn Indian cricket into a non-commercial NGO, for that is doomed to fail. It is fine to commercially harness he game. However, if you exploit a national passion, funded by the common man, it only makes sense that the money is accounted for and utilized for the best benefit of sport in the country. For, if there is less opaqueness, there won't be any need to make influential calls or petty factors like personality clashes affecting the outcome of any bidding process. If we know where the money is going, there is less chance of murkiness entering the picture. Accountability does not mean excessive regulation or a lack of autonomy. It simply means proper audited accounts, disclosures, corporate governance practices, norms to regulate the monopoly and even specific data on the improvement in sporting standards achieved in the country. If a young child grows up seeing cricket as yet another example of India's rich and powerful treating the country as their fiefdom, it won't be a good thing. Let's clean up the mess and treat cricket as it is supposed to be: a good sport. Game of a Clean-up, page 50 and 51
Chetan Bhagat (What Young India Wants)
A study conducted at Harvard found that Reagan-era tax cuts sparked a mass career switch among the country’s brightest minds, from teachers and engineers to bankers and accountants. Whereas in 1970 twice as many male Harvard grads were still opting for a life devoted to research over banking, twenty years later the balance had flipped, with one and a half times as many alumni employed in finance. The upshot is that we’ve all gotten poorer. For every dollar a bank earns, an estimated equivalent of 60 cents is destroyed elsewhere in the economic chain. Conversely, for every dollar a researcher earns, a value of at least $5–and often much more–is pumped back into the economy.22 Higher taxes for top earners would serve, in Harvard science-speak, “to reallocate talented individuals from professions that cause negative externalities to those that cause positive externalities.” In plain English: Higher taxes would get more people to do work that’s useful.
Rutger Bregman (Utopia for Realists: How We Can Build the Ideal World)
Because Rockefeller had such respect for ledgers, Clark, nearly ten years older, looked down on him as a mere clerk, a rigid, blinkered man without vision. “He did not think I could do anything but keep accounts and look after the finances,” said Rockefeller.29 “You see, it took him a long time to feel that I was no longer a boy.”30 He thought Clark envious of his success in soliciting business on the road, perhaps because this undercut Clark’s image of him as an expendable clerk. At first, Rockefeller swallowed his anger and stoically endured this injustice. “He tried almost from the beginning of our partnership to dominate and override me,” he said of Clark.
Ron Chernow (Titan: The Life of John D. Rockefeller, Sr.)
Employee engagement isn't just an "HR thing" - it's a finance, accounting and valuation thing.
Dave Bookbinder (The NEW ROI: Return on Individuals: Do you believe that people are your company's most valuable asset?)
These are not marginal or idiosyncratic categories of income (although the need to translate from tax categories to moral ones inevitably introduces judgment and imprecision into any accounting). Founder’s shares, carried interest, and executive stock compensation give nominally capital gains a substantial component of labor income, especially among the very rich. To begin with, roughly half of the twenty-five largest American fortunes, according to Forbes, arise from founder’s stock still held by the founders who built the firms. Moreover, the share of total capital gains income reported to the Treasury that is attributable to carried interest alone—to the labor of hedge fund managers—has grown by a factor of perhaps ten in the past two decades and now comprises a material share of all the capital gains reported by one-percenters. And over the past twenty years, roughly half of all CEO compensation across the S&P 1500 has taken the form of stock or stock options. Pensions and housing also contribute substantially to top incomes today, roughly doubling the shares that they contributed in the 1960s. Once again, the data cannot sustain precise measurements, but these forms of labor income, taken together, plausibly comprise roughly another third of top incomes, sitting atop the roughly half of top incomes attributable to labor on even the most conservative accounting. The data therefore confirm—top-down—the narrative of labor income that bubbles up from a survey of elite jobs. Both the top 1 percent and even the top 0.1 percent today receive between two-thirds and three-quarters of their income in exchange not for land, machines, or financing but rather for deploying their own effort and skill. The richest person out of every hundred in the United States today, and indeed the richest person out of every thousand, now literally works for a living.
Daniel Markovits (The Meritocracy Trap: How America's Foundational Myth Feeds Inequality, Dismantles the Middle Class, and Devours the Elite)
A somewhat provocative example of the interconnections between the gaming industry and finance. A technologist working for a large London hedge fund hinted this to me in interview. Trained in computer science and engineering, this interviewee first worked as a network programmer for large online multiplayer games. His greatest challenge was the fact that the Internet is not instantaneous: when a player sends a command to execute in action, it takes time for the signal to reach the computer server and interact with the commands of other players. For the game to be realistic, such delays have to be taken into account when rendering reality on the screen. The challenge for the network programmer is to make these asymmetries as invisible as possible so that the game seem 'equitable to everyone.' The problem is similar in finance, where the physical distance from the stock exchange's matching engines matters tremendously, requiring a similar solution to the problem of latency: simulating the most likely state of the order book on the firm's computers in order to estimate the most advantageous strategies or the firm's trading algorithms. Gaming and finance are linked not through an institutional imperative of culture or capital - or even a strategy, as such - but rather through the more mundane and lowly problems of how to fairly manage latency and connectivity.
Juan Pablo Pardo-Guerra (Automating Finance: Infrastructures, Engineers, and the Making of Electronic Markets)
At 50, people are still looking for a stockbroker to work a miracle for them, but at 60 they start looking for an advisor to help them negotiate a truce with reality. Regardless of when people are actually planning to retire, 60 is psychologically the beginning of the end of the accumulation period in their lives, and the beginning of the beginning of the distribution phase.... Variable annuitization offers genuine hope to people who (a) need to live on more than six percent of their capital, (b) need their income to grow in some relation to equity returns, which have historically been more than three times the inflation rate, and (c) at the very, very least, need to be assured that some income will continue for their entire lives. Variable annuitization is the only chance these people have. ...If Americans understood how the capital markets actually work, most folks would choose variable universal life insurance over variable life and whole life as the cheapest form of permanent insurance they could buy for the long run. That's simply because the insurance cost of an insurance policy is a pure function of how much of its own money the insurance company has exposed. Since the policyholder's own cash value builds up most significantly over time - and therefore the insurance company's exposure falls further, faster - in variable universal policies than in other debt-based (or general account-based) contracts, the net premium dollars allocated to the purchase of the death benefit must be lower, at the end of the day. And the policyholder's equity must be commensurately greater.
Nick Murray (The Value Added Wholesaler In The Twenty First Century)
The affluent, especially the self-made affluent, are frugal and price-sensitive concerning many consumer products and services. But they are not nearly as price-sensitive when it comes to purchasing investment advice and services, accounting services, tax advice, legal services, medical and dental care for themselves and family members, educational products, and homes.
Thomas J. Stanley (The Millionaire Next Door: The Surprising Secrets of America's Wealthy)
Their children will have it better. They will not have to take significant risks. They will become physicians, attorneys, and accountants. Their capital is their intellect.
Thomas J. Stanley (The Millionaire Next Door: The Surprising Secrets of America's Wealthy)
Five months later, Goldman launched Project Maximus, buying another $1.75 billion in bonds to finance 1MDB’s acquisition of power plants from the Malaysian casino-and-plantations conglomerate Genting Group. Again, the fund paid a high price, and, like Tanjong, Genting made payments to a Najib-linked charity. This time, $790.3 million disappeared into the look-alike Aabar. David Ryan, president of Goldman’s Asia operations, argued to lower the fee on the second bond, given how easy it had been to sell the first round. But he was overruled by senior executives, including Gary Cohn. While Goldman was working on the deal, Ryan was effectively sidelined; the bank brought in a veteran banker, Mark Schwartz, a proponent of the 1MDB business, as chairman in Asia, a post senior to Ryan’s. Goldman earned a little less than the first deal, making $114 million—still an enormous windfall. For bringing in the business, Leissner was paid a salary and bonuses in 2012 of more than $10 million, making him one of the bank’s top-remunerated employees. But that was just the tip of the iceberg. Unknown to his bosses at Goldman, and three months after the first bond, millions of dollars began to flow into a British Virgin Islands shell company controlled by Leissner, some of which he shared with Roger Ng, according to Department of Justice filings. Millions of dollars more moved through Leissner’s shell company to pay bribes to 1MDB officials. Over the next two years, more than $200 million in 1MDB money, raised by Goldman, would flow through accounts controlled by Leissner and his relatives. He could have taken his hefty Goldman salary and disavowed knowledge of the bribery carried out by Low and others. Perhaps he would have gotten away with it, as many Wall Street bankers do in countries far from headquarters. But he decided to take a risk by becoming a direct accomplice in the fraud, rather than just greasing its wheels. He had seen the kind of life Low was leading, and he must have thought that a mere $10 million wasn’t going to cut it, not if he wanted to buy super yachts and host parties himself. Soon he would be doing just that.
Bradley Hope (Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World)
When I thought about our thicket of challenges both known and unknown, the word that came to mind was familiar and apt: “Onward.” More than just a rallying cry or an attitude, “onward” seemed to connote the dual nature of how Starbucks had to do battle and do business in these increasingly complex, uncertain times. “Onward” implied optimism with eyes wide open, a never-ending journey that honored the past while reinventing the future. “Onward” meant fighting with not just heart and hope, but also intelligence and operational rigor, constantly striving to balance benevolence with accountability. “Onward” was about forging ahead with steadfast belief in ourselves while putting customers’ needs first and respecting the power of competition. Yes, everyone at Starbucks could indulge his or her passion—be it for coffee, the environment, marketing, or design—but only if we did not lose sight of the need for profits. “Onward” was about getting dirty but coming out clean; balancing our responsibility to shareholders with social conscience; juggling research and finances with instinct and humanity. And “onward” described the fragile act of balancing by which Starbucks would survive our crucible and thrive beyond it. With heads held high but feet firmly planted in reality. This was how we would win. I knew this to be true.
Howard Schultz (Onward: How Starbucks Fought for Its Life without Losing Its Soul)
As an account manager, Yehoshua Leibowitz uses his personal and communication skills to handle collections for clients in the cash advance business. His charming and loyal personality has led to numerous promotions. In one of his first jobs, Yehoshua Leibowitz was selected to oversee a team of workers at four different dry cleaning locations.
Yehoshua s Leibowitz
The imaginations of our nation's entrepreneurs, coupled with the constant discoveries of our scientists, can lead us to this future. But our twentieth-century policies, regulations, and market approaches cannot solve our twenty-first-century challenges. We are also hindered by our big, bureaucratic government and special interests that protect the past at the expense of progress. We must urgently rethink these failing systems and outdated regulations if we are to clear the way for a revolution in health science and technology. President Trump and congressional Republicans, therefore, must think much bigger and broader than changes in insurance financing to enact real reform that will save lives and save money. Instead, their number one priority should be to replace our current health bureaucracy with a flatter, more transparent, and more accountable health system that embraces innovation.
Newt Gingrich (Understanding Trump)
circumstances, like finances or relationship status, generally account for a smaller slice of the happiness equation than our deliberate behaviors.
Jenny Taitz (How to Be Single and Happy: Science-Based Strategies for Keeping Your Sanity While Looking for a Soul Mate)
But what if instead, we paired a majority-vote Senate with steps to strengthen our democracy, rebuild accountability, and reestablish the consent of the governed? Imagine the filibuster’s demise followed immediately by statehood for D.C. and Puerto Rico, automatic voter registration throughout America, tougher disclosure laws for political donors, a public campaign finance system, and more.
David Litt (Democracy in One Book or Less: How It Works, Why It Doesn't, and Why Fixing It Is Easier Than You Think)
The New York Times published an account of Trump’s finances from the years 1985 to 1994, based on copies of his 1040 tax forms it had obtained.32 Over that decade, Trump lost $1.17 billion dollars, probably more than any other person in the country.
John W. Dean (Authoritarian Nightmare: Trump and His Followers)
Be careful of your words. Man shall be held accountable for his lightest word. If you talk about substance in a negative way, your finances will be decreased, but if you talk about it in an appreciative, large way, you will be prospered.
Napoleon Hill (The Prosperity Bible: The Greatest Writings of All Time on the Secrets to Wealth and Prosperity)
The art of accounting and finance is the art of using limited data to come as close as possible to an accurate description of how well a company is performing.
Karen Berman (Financial Intelligence for Entrepreneurs: What You Really Need to Know About the Numbers)
The truth is that others judge us. More than that, they evaluate the truth of the Gospel by what they see of our lives and our integrity. [We] must make every effort to be above all suspicion in the matter of finances and statistics. We are not only accountable to God’s people, but also to our Master (see Acts 24:16).
Billy Graham (Billy Graham in Quotes)
Bizarre and Surprising Insights—Consumer Behavior Insight Organization Suggested Explanation7 Guys literally drool over sports cars. Male college student subjects produce measurably more saliva when presented with images of sports cars or money. Northwestern University Kellogg School of Management Consumer impulses are physiological cousins of hunger. If you buy diapers, you are more likely to also buy beer. A pharmacy chain found this across 90 days of evening shopping across dozens of outlets (urban myth to some, but based on reported results). Osco Drug Daddy needs a beer. Dolls and candy bars. Sixty percent of customers who buy a Barbie doll buy one of three types of candy bars. Walmart Kids come along for errands. Pop-Tarts before a hurricane. Prehurricane, Strawberry Pop-Tart sales increased about sevenfold. Walmart In preparation before an act of nature, people stock up on comfort or nonperishable foods. Staplers reveal hires. The purchase of a stapler often accompanies the purchase of paper, waste baskets, scissors, paper clips, folders, and so on. A large retailer Stapler purchases are often a part of a complete office kit for a new employee. Higher crime, more Uber rides. In San Francisco, the areas with the most prostitution, alcohol, theft, and burglary are most positively correlated with Uber trips. Uber “We hypothesized that crime should be a proxy for nonresidential population.…Uber riders are not causing more crime. Right, guys?” Mac users book more expensive hotels. Orbitz users on an Apple Mac spend up to 30 percent more than Windows users when booking a hotel reservation. Orbitz applies this insight, altering displayed options according to your operating system. Orbitz Macs are often more expensive than Windows computers, so Mac users may on average have greater financial resources. Your inclination to buy varies by time of day. For retail websites, the peak is 8:00 PM; for dating, late at night; for finance, around 1:00 PM; for travel, just after 10:00 AM. This is not the amount of website traffic, but the propensity to buy of those who are already on the website. Survey of websites The impetus to complete certain kinds of transactions is higher during certain times of day. Your e-mail address reveals your level of commitment. Customers who register for a free account with an e-mail address are almost five times more likely to convert to a paid, premium-level membership than those with a e-mail address. An online dating website Disclosing permanent or primary e-mail accounts reveals a longer-term intention. Banner ads affect you more than you think. Although you may feel you've learned to ignore them, people who see a merchant's banner ad are 61 percent more likely to subsequently perform a related search, and this drives a 249 percent increase in clicks on the merchant's paid textual ads in the search results. Yahoo! Advertising exerts a subconscious effect. Companies win by not prompting customers to think. Contacting actively engaged customers can backfire—direct mailing financial service customers who have already opened several accounts decreases the chances they will open more accounts (more details in Chapter 7).
Eric Siegel (Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die)
What made this spending possible was that having adopted the euro, Greece and the other European periphery states (Portugal, Italy, Spain, and Ireland) were effectively endowed with Germany’s credit rating on the assumption that the ECB would back all outstanding debt issued by member states since it was all in the “same” new euro currency. As such, the historically high borrowing costs of these countries fell. Greece’s borrowing costs, for example, fell from 20 percent on a ten-year bond before the introduction of the euro to around 4 percent in 2005, and in the case of Greece in particular, more borrowing was the result.24 Since Greece was able to borrow more easily, money became more plentiful locally, financing both consumption and investment. However, this also raised Greece’s labor costs relative to its Euro Area neighbors; its competitiveness fell, widening its current account deficit—Greece was importing more than it was exporting with the extra cash.
Mark Blyth (Austerity: The History of a Dangerous Idea)
When W. Clement Stone, an insurance magnate and philanthropist, gave $2 million to Richard M. Nixon’s 1972 campaign, it caused public outrage and contributed to a movement that produced the post-Watergate reforms in campaign financing.” Accounting for inflation, Balz estimated that Stone’s $2 million might be worth about $11 million in today’s dollars. In contrast, for the 2016 election, the political war chest accumulated by the Kochs and their small circle of friends was projected to be $889 million, completely dwarfing the scale of money that was considered deeply corrupt during the Watergate days.
Jane Mayer (Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right)
Their strategy was to make clients feel accepted into a private club, as if a Morgan account were a membership card to the aristocracy.
Ron Chernow (The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance)
Destiny has ordained that from the day of my birth I should never know a whole happy day.’ Datini’s meticulously kept account books span almost fifty years and clearly show the transition from single- to double-entry bookkeeping. His
Jane Gleeson-White (Double Entry: How the Merchants of Venice Created Modern Finance)
Maximizing time is making sure that every second is accounted for
Sunday Adelaja
The Economist has produced a more sophisticated set of ‘back-of-the-envelope’ estimates in an interactive basic income calculator for all OECD countries.4 This purports to show how much could be paid as a basic income by switching spending on non-health transfers, leaving tax revenues and other public spending unchanged. Interestingly, even on this very restrictive basis, a cluster of seven west European countries could already pay over $10,000 per person per year. The United States could pay $6,300 and Britain $5,800. Obviously, for most countries, the level of basic income that could be financed from this tax-neutral welfare-switching exercise would be modest – though, especially for bottom-ranked countries such as South Korea ($2,200) or Mexico (only $900), this largely reflects their current low tax take and welfare spending. The Economist’s interactive calculator also aims to calculate what tax rises would be needed to pay a basic income of a given amount. For the UK, the calculator estimates that the cost of a basic income of one-third average GDP per head would require a 15 percentage point rise in tax take. Its calculations can again be questioned in their own terms. However, all these back-of-the-envelope exercises are flawed in more fundamental ways. First, they do not allow for clawing the basic income back in tax from higher-income earners, which could be done with no net cost to the affluent or to the Exchequer, simply by tweaking tax rates and allowances so that the extra tax take equals the basic income paid. Second, they do not take account of administrative savings from removal of means testing and behaviour conditions. Administration accounted for £8 billion of the £172 billion 2013–14 budget of the UK’s Department of Work and Pensions, much of which will have gone to pay staff in local job centres to monitor and sanction benefit recipients. This does not include hundreds of millions of pounds paid to private contractors to carry out so-called ‘work assessment’ tests on people with disabilities, which have led to denial of benefits to some of society’s most vulnerable people. Third, they compare the cost of a basic income with the existing welfare budget and assume that all other areas of public spending remain intact. Yet governments can always choose to realign spending priorities. The UK government could save billions by scrapping the plan to replace the Trident nuclear missile system, now estimated to cost more than £200 billion over its lifetime. It could save further billions by ending subsidies that go predominantly to corporations and the affluent.
Guy Standing (Basic Income: And How We Can Make It Happen)
If Accounting is clerical, Finance is intellectual. Finance starts where Accounting ends. You may be unable to understand Accounting, but you could still understand Finance.
Anil Lamba (Romancing The Balance Sheet)
the accountant is probably the only non-Finance person in the organization! The accountant is the only one whose actions do not impact the bottom line. After all the so-called non-Finance people have done their job, the accountant will compile the data, evaluate the result of their actions, and declare whether the organization has made a profit or a loss – basically just performing a post-mortem.
Anil Lamba (Romancing The Balance Sheet)
Action Steps 1. Audit your current skill set. You have more areas of competence than you think. Throughout your life, you have amassed knowledge and specialized skills in a wide range of disciplines. That knowledge and those skills can prove useful to you in future endeavors. For example, I have a degree in Finance and Investments. Upon graduating from college, I accepted an accounting position with one of the top automakers. I then became a stockbroker. Then, I moved into a career in IT. For the past 20 years, I’ve been a writer in numerous capacities. Along the way, I learned about server management, Wordpress development and search engine optimization. All of these ventures imbued me with skills I use every day - in my business and personal life. Your experience has likewise instilled within you a raft of specialized skills. Many of them will help you to tackle unfamiliar tasks and projects, even if they seem unrelated to your current and previous jobs. 2. Focus on your desired outcomes rather than the things that might go wrong along the way. One of our survival instincts is to plan for things that might go wrong. In some circumstances, that’s a valuable quality that protects us from harm. It prevents us from strolling down dark alleys in unpopulated locales. It discourages us from petting strange dogs. In other circumstances, however, it can hold us back. The instinct prevents us from pursuing opportunities that can lead to improved aptitude as well as personal and professional growth. By focusing on your desire outcomes, you’ll find it easier to ignore your inborn fear of the unknown. You’ll be able to dismiss the voice in your head constantly whispering “What if XYZ happens?” 3. Look for opportunities to learn new skills. The self-confidence you’ll gain will make you less fearful of tackling unfamiliar tasks. Achieving a high level of competency in any discipline requires repeated exposure and application. There’s no other way to attain proficiency. The problem is a lack of courage. It’s normal to feel hesitant, or even intimidated, when we’re given a new responsibility.
Damon Zahariades (The 30-Day Productivity Boost (Vol. 1): 30 Bad Habits That Are Sabotaging Your Time Management (And How To Fix Them!))
To an extent that most accounts still underrate, the Bolshevik Revolution was a German-financed operation, though it was greatly facilitated by the incompetence of the Russian liberals.1 Lenin’s goose should have been cooked after the failure of the first Bolshevik coup attempt in early July and his exposure as a German agent in the newspaper Zhivoe Slovo, which led to formal charges of treason against him and ten other Bolshevik leaders.
Niall Ferguson (The Square and the Tower: Networks and Power, from the Freemasons to Facebook)
management of externalities becomes a key leadership skill. Growth comes not from horizontal integration and vertical integration but from functional integration and network orchestration. The focus on processes such as finance and accounting shifts from cash flows and assets you can own to communities and assets you can influence. And while platform businesses themselves are often extraordinarily profitable, the chief locus of wealth creation is now outside rather than inside the organization. Network effects are creating the giants of the twenty-first century. Google and Facebook each touch more than one-seventh of the world’s population. In the world of network effects, ecosystems of users are the new source of competitive advantage and market dominance.
Geoffrey G. Parker (Platform Revolution: How Networked Markets Are Transforming the Economy--and How to Make Them Work for You)
Do the finance folks dominate decisions? They shouldn't. The strength of their department should be balanced by the strength of operations, of marketing, of human resources, of customer service, of information technology, and so on. If managers in those other departments are not financially savvy, if they don't understand how financial results are measured and how to use those results to critically evaluate the company, then accounting and finance necessarily have the upper hand. The bias they inject in to the numbers affects and can even determine decision making.
Karen Berman (Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean)
Accounting and finance are not reality, the are a reflection of reality, and the accuracy of that reflection depends on the ability of accountants and finance professionals to make reasonable assumptions and to calculate reasonable estimates.
Karen Berman (Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean)
Absent in such knowledge, what happens? Simple: the people from accounting and finance control the decisions. We use the word control because when decisions are based on numbers, and when the numbers are based on accountants' assumptions and estimates, then the accountants and finance folks have effective control (even if they aren't trying to control anything). That's why you should need to know what questions to ask.
Karen Berman (Financial Intelligence: A Manager's Guide to Knowing What the Numbers Really Mean)
Auditors are to the world of finance what anti-doping lab technicians are to the Tour de France; they both test thousands of random samples each year and find nothing wrong.
A still-classified section of the investigation by congressional intelligence committees into the Sept. 11, 2001, attacks has taken on an almost mythic quality over the past 13 years — 28 pages that examine crucial support given the hijackers and that by all accounts implicate prominent Saudis in financing terrorism. Now new claims by Zacarias Moussaoui, a convicted former member of Al Qaeda, that he had high-level contact with officials of the Saudi Arabian government in the prelude to Sept. 11 have brought renewed attention to the inquiry’s withheld findings, which lawmakers and relatives of those killed in the attacks have tried unsuccessfully to declassify.
Don’t let money define you: Your self-worth has nothing to do with your finances. Whether you have a negative bank account or $10 million, your confidence should never waiver.
Peter Voogd (6 Months to 6 Figures)
September was a busy time of year for accounants, and not particularly Al's favorite. All the corporations that had filed extensions in April had to have their taxes in by the middle of September, with the procrastinating individuals following close behind. Al's clients who hadn't been able to get their finances together in the spring were even less inclined to now, any more than they wanted to tuck in the loose ends of their carefree summer spending... In September, accountants were firmly planted in the role of curmudgeon, grown-up when everyone wanted only to remember the feeling of bare feet for as long as possible.
Erica Bauermeister (The Lost Art of Mixing)
The tools of traditional finance, like modern portfolio theory, can help investors establish efficient portfolios to maximize their wealth with acceptable levels of risk. However, mental accounting makes it difficult to implement these tools. Instead, investors use mental accounting to match different investing goals to different asset allocations. This often leads to investors diversifying their portfolios by goal rather than in total. When investors pick investments in each goal-focused mini portfolio, they examine each choice’s individual risk and return characteristics and ignore their diversification characteristics. They eliminate the choices they view as inferior and then often simply divide their money equally among the acceptable choices.
John R. Nofsinger (The Psychology of Investing)
Clodius had doubtless been instructed to leave him meanwhile at peace, but Caesar as little threw off Clodius on account of Cicero as he threw off Cicero on account of Clodius; and the great saviour of his country and the no less great hero of liberty entered into an antechamber-rivalry in the headquarters of Samarobriva, for the befitting illustration of which there lacked, unfortunately, a Roman Aristophanes. But not only was the same rod kept in suspense over Cicero's head, which had once already descended on him so severely; golden fetters were also laid upon him. Amidst the serious embarrassment of his finances the loans of Caesar free of interest, and the joint overseership of those buildings which occasioned the circulation of enormous sums in the capital, were in a high degree welcome to him; and many an immortal oration for the senate was nipped in the bud by the thought of Caesar's agent, who might present a bill to him after the close of the sitting.
Theodor Mommsen (The History of Rome, Vol 5)
Sample UFS Feedback Questionnaire My manager gives me actionable feedback that helps me improve my performance. My manager does not “micromanage” (i.e., get involved in details that should be handled at other levels). My manager shows consideration for me as a person. My manager keeps the team focused on our priority results/deliverables. My manager regularly shares relevant information from his/her manager and senior leadership. My manager has had a meaningful discussion with me about my career development in the past six months. My manager communicates clear goals for our team. My manager has the technical expertise (e.g., coding in Tech, accounting in Finance) required to effectively manage me. I would recommend my manager to other Googlers.
Laszlo Bock (Work Rules!: Insights from Inside Google That Will Transform How You Live and Lead)
There is an even starker contrast between the two groups of countries when one compares their contributions to growth in global debt versus growth in global GDP. Emerging markets contribute far more to growth in global GDP than to the growth in global public debt. These economies accounted for 14 percent of the increase in global debt levels from 2007 to 2012. In contrast, their contribution to the increase in global GDP over this period was 70 percent. The numbers are equally stark when one examines forecasts for the subsequent five years. From 2012 to 2017, emerging markets are expected to account for about three-fifths of global GDP growth but less than one-fifth of global public debt accumulation. In other words, emerging markets are adding substantially to global GDP, whereas advanced economies are mainly adding to global public debt (see Figure A-3 in the Appendix for details). The U.S. and Japan are certainly heavy hitters when it comes to debt accumulation. These two economies are making a far greater contribution to the rise in global debt than to the rise in global GDP. The U.S. contributed 38 percent of the increase in global debt from 2007 to 2012 and is expected to account for nearly half of the anticipated increase from 2012 to 2017. Its contributions to the increases in global GDP over those two periods are 12 percent and 23 percent, respectively. Japan accounted for 25 percent of the increase in debt from 2007 to 2012 and is expected to add 9 percent from 2012 to 2017, whereas its contributions to the increase in global GDP are far more modest. One
Eswar Prasad (The Dollar Trap: How the U.S. Dollar Tightened Its Grip on Global Finance)
The Guardian’s Paul Vallely has given a decent account of how Cardinal George Pell, appointed by Francis, began a review of the bank’s operations. Pell had successfully overhauled the Church’s finances in Sydney and Melbourne. The Australian son of a former heavyweight boxer, Pell is a political and doctrinal conservative who speaks aggressively and does not believe in man-made climate change. He is a cult hero among conservative Catholics. You can imagine what the Lavender Mafia think of him. Vallely notes grudgingly that, “For all his conservatism, Pell had for years been a vocal critic of the Roman Catholic bureaucracy and its corruption.” Pell moved quickly, and made enemies. A straight dealer to the point of unbearable bluntness, especially in the delicately perfumed and gold-embroidered world of the Holy See, Pell probably didn’t anticipate getting tripped up by dirty tactics: in this case, stories leaked to the media about—you guessed it—clerical abuse. The press reports were coincidentally timed, arriving just as Pell’s reforms of the bank began to take hold. It was alleged that Pell was soft on child abuse, thanks to offhand comments he had made years before, in typically ribald and direct Australian fashion. It was suggested that he may himself have some questions to answer about covering up abuse. Then the allegations widened, to direct accusations of historic sex abuse, at which point Pell had to put his work at the bank on hold. Now Pell is back in Australia, trying to clear his name, and his reforms are stalling, just as the intriguers intended. This is how efforts to clean up the Roman Catholic Church usually end.
Milo Yiannopoulos (Diabolical: How Pope Francis Has Betrayed Clerical Abuse Victims Like Me—and Why He Has To Go)
they just took the US government... they just changed the governance model by accounting policy to a fascist government
Catherine Austin Fitts
The socializing function of finance capital facilitates enormously the task of overcoming capitalism. Once finance capital has brought the most importance branches of production under its control, it is enough for society, through its conscious executive organ - the state conquered by the working class - to seize finance capital in order to gain immediate control of these branches of production. Since all other branches of production depend upon these, control of large-scale industry already provides the most effective form of social control even without any further socialization. A society which has control over coal mining, the iron and steel industry, the machine tool, electricity, and chemical industries, and runs the transport system, is able, by virtue of its control of these most important spheres of production, to determine the distribution of raw materials to other industries and the transport of their products. Even today, taking possession of six large Berlin banks would mean taking possession of the most important spheres of large-scale industry, and would greatly facilitate the initial phases of socialist policy during the transition period, when capitalist accounting might still prove useful. There is no need at all to extend the process of expropriation to the great bulk of peasant farms and small businesses, because as a result of the seizure of large-scale industry, upon which they have long been dependent, they would be indirectly socialized just as industry is directly socialized. It is therefore possible to allow the process of expropriation to mature slowly, precisely in those spheres of decentralized production where it would be a long drawn out and politically dangerous process. In other words, since finance capital has already achieved expropriation to the extent required by socialism, it is possible to dispense with a sudden act of expropriation by the state, and to substitute a gradual process of socialization through the economic benefits which society will confer. [pp. 367-368]
Rudolph Hiferding (Finance Capital: A study in the latest phase of capitalist development)
The analysis of the /General Theory /shows that inflation is a real, not a monetary, phenomenon. It operates in two stages (once more giving a crudely simple account of an intricate process). An increase in effective demand meeting an inelastic supply of goods raises prices. When food is supplied by a peasant agriculture a rise of the prices of foodstuffs is a direct increase of money income to the sellers and increases their expenditure. The higher cost of living sets up a pressure to raise wage rates. So money incomes rise all round, prices are bid up all the higher and a vicious spiral sets in. The first stage — a rise of effective demand — can very easily be prevented by not having any development. But if there is to be development there must be a stage when investment increases relatively to consumption. There must be an increase in effective demand and a tendency towards inflation. The problem is how to keep it within bounds. Some schemes of investment that seem to be clearly indispensable to improvements in the long run, such as electrical installations, take a long time to yield any fruit and meanwhile the workers engaged on these have to be supplied. The secret of non-inflationary development is to allocate the right amount of quick-yielding, capital-saving investment to the consumption-good sector (especially agriculture) to generate a sufficient surplus to support the necessary large schemes. It is in this kind of analysis, rather than in the mystifications of “deficit finance,” that the clue to inflation is to be found. [pp. 110-11]
Joan Robinson (Economic Philosophy)
I’d always thought real prayer, real religious expression, had to be unique. Individualistic. New and tailored for the person expressing it because otherwise what’s the point? But for the first time, I feel the power of praying words alongside someone else, the power of praying words so familiar and ancient they come from some hitherto unknown part of my mind. The part of my mind that isn’t consumed with accounting and finance, the part that isn’t even rational or entirely civilized. It’s a part of me so deep, so elemental, I can’t even name it. But it responds to the old words like trees to wind, rustling awake, stretching roots deep, deep down. The words don’t care about my feelings, about my petty sulks and mortal frustrations. The words are there anyway, just as the humanness inside me is there anyway, and for one clear, shimmering moment, I understand. I understand how you can convict God of terrible crimes and then go to evening prayer. I understand that hate was never, ever the opposite of belief. I understand that belief isn’t a coat to be put on and worn in all kinds of weather, even the blistering sun. Belief is this. Praying when you don’t feel like it, when you don’t know who or what is listening; it’s doing the actions with the trust that something about it matters. That something about it makes you more human, a better human, a human able to love and trust and hope in a world where those things are hard. That is belief. That is the point of prayer. Not logging a wish list inside a cosmic ledger, not bartering for transactional services. You do it for the change it works on you and on those around you; the point of it is…itself. Nothing more and nothing less.
Sierra Simone (Sinner (Priest, #2))
Part of why individuals like Benioff could crow about giving back was because of how comprehensively they had taken to begin with. They had benefited from public goods financed by taxpayers—the schools that educated their employees; the internet, developed by publicly funded research; the roads, the bridges, and the rest of modern infrastructure, which enabled commerce—and then deployed their lobbyists, accountants, and lawyers to master legal forms of tax evasion that starved the system.
Peter S. Goodman (Davos Man: How the Billionaires Devoured the World)
I have never made much money, but this hasn't bothered me. I don't care what I'm paid. I have never had a shared bank account. I do not keep track of how much money is in my bank account. I am not stingy, I admire money well spent. I am not saving for my retirement. I have lived for several years without insurance.
Édouard Levé (Autoportrait)
Money doesn't care where it came from or what it is spent on, and neither should you.
Coreen T. Sol, CFA
With gambling or investing, if your gains are quick and easy, you will tend to keep the money in a separate mental account. So, if you subsequently lose it, you won't feel as upset as you'd think if you lost the money you brought to the casino. Yet, they are both pots of currency.
Coreen T. Sol, CFA
On a trip to Korea, Thiel’s corporate credit card was declined as he tried to purchase a return ticket home. The investors he had met with were only too happy to furnish a first-class plane ticket—which they did on the spot. “They were excited beyond belief,” Thiel remembered. “The next day, they called up our law firm and asked, ‘What’s the bank account we need to send the money to?’ ” The crazed nature of it all confirmed Thiel’s suspicions about the market. “I remember thinking to myself that it felt like things couldn’t get much crazier, and that we really had to close the money quickly because the window might not last forever,” he said. The final $100 million figure actually disappointed some on the team. Confinity and had secured verbal commitments for double that amount, and some on the team had wanted to hold out for the remaining funding or push for a billion-dollar valuation. Thiel disagreed, urging Selby and others on the financing team to turn handshakes into actual checks, to get term sheets signed, and have deposits confirmed. “Peter kicked everyone’s asses to get that funding round done,” David Sacks remembered. Many Confinity employees—who had seen Thiel at his toughest—rarely remember him this insistent. “If we don’t get this money raised,” Howery recalled Thiel saying, “the whole company could blow up.
Jimmy Soni (The Founders: The Story of Paypal and the Entrepreneurs Who Shaped Silicon Valley)