Zglygj Finance Service

Select and divide the best finance service

Corporate Finance Reporting Practices

indexCorporate financial reporting is the process of preparing corporate financial reports. The corporate financial reports include the income statement, the balance sheet, the cash flow statement, and the statement of retained earnings.

It could be either presented at the month end, at the end of every quarter or at the end of the financial year.

Corporate finance reporting does not only display financial statements of businesses, but it provides an interpretation of financial information and highlights implementation of the financial policy.

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Choosing The Correct Life Insurance

indexLife insurance policies are legal contracts so one needs to be very careful with the terms of the contract before actually buying a life insurance policy. Here are some useful tips that can help you narrow down the right life insurance policy.

You should go for term life insurance if:

  • You require the insurance for a specified period of time. It enables you to align your policy duration with your requirements. For example, if you are planning to buy a policy that will help you arrange funds for your children’s education needs, you might opt for a policy that has a long duration, say 15 years.  Or if you are buying a policy to repay a debt in a specified period of time, you may select the exact term that matches with your debt repayment period.
  • You require a large amount of cover from your policy, but have a limited budget with respect to your requirement. In principle, this kind of policy pays only in case of death of the insured during the term of the policy, so the probability of death benefit is lower than other forms of life insurance. In case such an unfortunate incident does not happen, coverage ceases unless the policy is renewed or a new policy comes into place. Unlike permanent insurance, you will not typically build equity in the form of cash savings.

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Trade Finance Products Facilitate Smooth Transaction of Trade

tradefinance_copyWhen trading takes place, there is a great need for mutual trust as both parties may experience some doubt as to whether the other party will fulfill the commitment or not. This way of thinking becomes possibly more prevalent while the trading involves overseas consignments ordered by a trader or buyer. It takes two to complete a trade transaction, namely a buyer or importer and a seller or exporter, and both have to be adequately assured that their end of the bargain will be fully delivered in order for the trade to be successful. A bank or an accredited financial institution will then step in and guarantee the payment to the seller on behalf of the buyer to ensure a smooth transaction. This kind of finance is called trade finance, and it is provided by banks and private financial institutions to traders involved in local and international trading.

There are several kinds of trade finance tools that a financial institution can provide to traders, and each are absolutely credible and accepted in both local and international trading circles and by banks around the world. It is important for a trader, who is also a buyer, to have the backing of a bank in the form of guarantees such as letters of credit, bank guarantee, discounting of bills, etc. A seller assured of full payment against the consignment ordered by the buyer would gladly dispatch the goods to the buyer’s destination through a courier but will not do so if the payment is not guaranteed by an institution like a recognised bank. Assurance of payment by the buyer after delivery of the consignment will not jell with most sellers and would require the guarantee of an authorised party such as a locally and internationally recognized bank or financial institution.

A trader could buy any of the above services from his bank in order to facilitate the movement of the goods from an overseas buyer and then pay the service charges to the bank after receiving the consignment.  The seller by turn would produce a bill of loading to the designated buyer’s bank directly or through his bank, and then be able to collect the payment in full. This is a great arrangement and highly effective when the trading parties do not trust one another over the payment and delivery of goods. A trader who has a fruitful association with a bank that sells trade finance products can then successfully carry out trade transaction with sellers around the world. The terms used for providing the various trade financing tools vary from bank to bank and institution to institution depending upon the kind of services they provide to their clients.

Benefits Of Online Merchant Service

downloadAn online merchant service is one that empowers you to make payments on the internet. Basically, online merchant services go through online merchant accounts that are offered through an obtaining bank. This acquirer efficiently grants you to accept or make compensations through credit cards online. As it is the face with almost any sort of business decision, there are a number of both benefits as well as disadvantages to online structures of payment and also to other forms of processors of a credit card.

On a general form, the benefits tend to be tied to having a direct control of the structure for processing the payment. On the other side, the disadvantages tend to whirl around factors like logistics, mechanics, and security. The authority for the entire procedure of payment is a very tricky affair and requires to be considered to avoid any issues.

A prime concern that a lot of people face is the amount incurred to access online merchant services. There is a myriad of potential costs and fees that are correlated with even preparing an e-commerce website that would provide these services. If you are seeking to set up such a web service to improve your business procedure then you require considering potential compensation for the same. Different credit card merchant account fees will rise up from each lender who is included in helping you to develop your e-commerce website.

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Financial Problems in a Marriage and Their Sure-fire Solutions

13-Things-Marriage-Counselor-hfIt is said that marriage is the best thing that can happen to two people in love. It is true, provided the spouses understand each other and are aware of the responsibilities that come with marriage. However, married life can suffer a setback, if there are financial issues in a relationship and the partners do not work it out properly to solve these problems. In studies conducted by experts, financial issues have been included as one of the top reasons for a divorce. So, it is always better to be aware of financial problems, if any, and find effective ways to deal with them.
Monetary Issues and Their Solutions
Handling Finance
Stressed make differences in couple
This is one of the basic issues that married couples face. They are not clear about whose salary should be used for household expenses and whose should go in for savings. Lack of planning leads to confusion, ultimately resulting in differences between a couple.
Future planning kit
Solution: Couples should try different ways to handle their finances and check which one works the best for them. According to surveys, around 64% of couples have joint accounts, 14% of them have separate accounts, and 18% of couples have both joint as well as separate accounts. There is no particular method to handle finances; it depends on a couple as to how much they want to spend and how much they want to save. So, sit down to decide among yourselves, and make the best call for your future.
Excessive Spending
Excessive spending
Among the various money-related problems affecting a marriage, spending habit is a contentious issue. Many a time, one of the partners is inclined to shop and spend more than the total earnings with the help of loans and credit cards. Mounting bills and high interest rates can really make things difficult for the family.
Don’t spend more
In certain cases, among the two partners, the wife mostly has the habit of presenting her family with goodies every now and then. The expenditure made, might irritate the other partner and ultimately give rise to arguments.
Solution: Couples should fix a budget for the month and keep a check so that the expenditure does not exceed the limit. As far as possible, use of multiple cards should be avoided. When going through tough financial times, couples need to cut down on entertainment and leisure expenses. Wives and even husbands, if either is into the habit of buying unwanted gifts, should keep away from doing so. This is because, occasional exchange of gifts does not affect, as much as the usual ones do.
Mounting Debts
Sometimes while making hasty decisions, it might happen that married couples tend to apply for house loans or car loans without figuring out their repayment capacity. Apart from that, some are even in a habit of using credit cards in excess. This negligence in handling money leads to rising debts which becomes difficult to repay in future.
Retirement plan
Solution: Taking loans only as per one’s need and repayment capacity, is the first solution to avoid the problem of mounting debts. One should have realistic aspirations and dreams, and think twice before applying for loans and pledging assets with the lenders. And, if both the spouses are working, they should contribute equally to pay off the EMIs.
Improper Investments
Couple with financial stress
In order to lead a settled life, couples have to think about their future and secure it. Investment done inappropriately is one of the prime factors to be looked into, especially when you have a family to take care of. For this, couples have to make precise investments and while doing so, they have to be careful as it might be a risky affair.
Solution: Couples should figure out the investment goal and time frame, and make sure to review their investments at least once a year.
Unnecessary Expenses
Excessive spending
Love is blind and people in love know no boundaries when it comes to spending for each other. They tend to buy expensive stuff in order to please their respective partners. This act of unwanted splurging causes problems later on, and couples start blaming each other for mismanagement of money.
Solution: In order to avoid financial hassles, couples should refrain themselves from buying expensive gifts and going for lavish holidays. As is rightly said “cut your coat according to your cloth” couples should spend according to their capacity.
Crisis
An unstable monetary situation arises due to the lack of savings for your future use. An accident, a major illness or an unexpected pink slip, or any other emergency – all situations which require you to dole out a large sum of money – can land you in peril.
Piggy bank
Solution: Problems are unavoidable and can never be predicted. So, instead of waiting for the problem to arise, couples should keep themselves prepared for the bad times. They should make sure that they have an emergency savings account. They should plan their monthly savings together along with a target amount to be saved every month, so that they have enough in hand when a sudden need arises.
Ego Clashes
Couple having quarrel
This is the age where women have caught up with men in every field and are the breadwinners. These days, in many households, we can find women earning more than men which hurts the male ego to a great extent, and if a man is jobless then the situation gets even worse. In such cases, it becomes really difficult to save the relation, as both the partners have their self-pride and none of them is ready to bow down.
Solution: Marriage is a union of two souls and bodies, so couples should treat each other as one. To avoid ego clashes, men should see situations in a broader perspective, and instead of getting offended by their respective wives’ earnings, they should encourage them to work. After all, whoever earns, eventually the income will be utilized for the family.
Keeping Financial Secrets
This is undoubtedly one of the biggest financial problems in a marriage. Many spouses are seen hiding their financial documents, bank account statements and information about their assets, which can be frustrating for the other spouse.
Responsibilities in marriage
Solution: It is always better to speak the truth, and show all your financial details to your partner. By doing so, your better half would be able to suggest ways of dealing with finances, if need be.
Some Tips for Managing Family Finances

A family begins with ‘We’ and not ‘I’. So, while dealing with money matters, always remember that you should think for the well-being of your family.

If your problems are too big, take suggestions from a financial planner.

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