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What is Purchasing Department

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เมื่อ: พฤษภาคม 16, 2021, 01:57:20 pm
What is Purchasing Department
Purchasing Department: Characteristics, Functions

The purchasing department is the section of a company responsible for all activities for the business acquisition financing of raw materials, spare parts, services, etc., as required by the organization. It provides a service that is the backbone of many industrial, retail, and military organizations.

Ensures that supplies necessary to operate the business are ordered and kept in inventory. This department is at the center of successful supply chain management, and is responsible for minimizing the cost of ordered products, controlling inventory levels, and establishing strong relationships with suppliers.

A good purchasing department will demand quality from suppliers and will follow up on orders from the beginning to the reception. Help other departments identify needs, manage the requisition process, and obtain competitive prices. They usually act as controllers to ensure compliance with budgets.

Act as trusted advisers to senior management
The purchasing department is involved in corporate planning and budgeting at a high level. This makes it possible to design reverse engineering costs and explore potentially less expensive and / or higher quality alternatives.

Drive supplier innovation
More than just demanding the lowest price, the purchasing department works with suppliers to reduce the underlying cost of their products and services. They are intimately involved with "the life cycle of innovation", from initial idea to manufacturing and continuous improvement.
Provide insight into key vendor data
Companies can draw on this information to create predictive analytics, providing a deeper insight into markets.

Manage and mitigate supply chain risk
Economic crises have taught the value of being aware of the stability of suppliers. The purchasing department has a much clearer view of that area than any other part of the organization.

Promote agile staffing and talent development
It is necessary to cross functional and geographic boundaries to find the right candidates for the purchasing department.
In some cases, the answer is in outsourcing or using shared service organizations.

Obtaining materials
For a manufacturing company this could include raw materials, but it could also include tools, machinery, or even the necessary office supplies for the sales team and secretaries.
In a retail business, the purchasing department must ensure that there are always enough products on the shelves or in warehouses to keep the store well stocked.

It is especially important to keep your inventory warehouse at a reasonable level. Overinvesting large amounts of money in inventory could lead to stock problems and a lack of capital for other types of expenses, such as research and development, or advertising.

Evaluate prices

A purchasing department is in charge of continuously evaluating whether you are receiving the materials at the best possible price, in order to maximize profitability.

You need to compare prices so that you can find the best suppliers with the most sensible prices for company-specific size orders.

The purchasing department can contact alternate vendors, negotiate better prices for higher volume orders, or inquire about the possibility of obtaining lower priced products from a variety of other sources.

Vendor pre-approval
The purchasing department evaluates suppliers in terms of price, quality, customer opinions and time to complete orders, producing a list of approved suppliers.

Track orders
Orders are documented with purchase order forms. These specify important information about the materials ordered, as well as the quantity ordered.

These forms are used to ensure that ordered products are received and to track the time it takes for orders to complete.

Office work
The purchasing department handles all the documentation related to the purchase and delivery of the materials.

This means working closely with your accounting department to ensure that there is enough money to purchase items, that cash flows smoothly, and that all payments are made on time.

Policy compliance
Before making a purchase, the purchasing department has to ensure that it complies with the formalities for the acquisition and approval of the budget, and it must ensure that the materials are purchased following the general policy of the organization.

Get lower costs
The purchasing department plays an important role in maximizing business profits. Compare prices and negotiate with suppliers so that the company obtains the best possible price on the necessary products.

You can also provide savings by taking advantage of guarantees and discounts that non-specialists generally forget.

It helps to save, providing better transparency in company spending. This will allow you to negotiate better contracts and free up cash flow.

Prevent insufficient materials

The purchasing department has to identify which products are critical to the business and take appropriate measures to protect its supply chain.

To ensure that insufficient materials do not affect productivity, the purchasing department uses techniques such as multiple sourcing.

Having multiple sources means using multiple vendors that offer the same products. If there is a problem with one supplier, orders can be increased to another to compensate for the failure.

Improve quality
The purchasing department helps improve quality by setting performance goals. Then it tracks actual performance against those goals.

It is critical to measure quality characteristics using indicators for attributes, such as durability, product appearance, or timeliness of delivery.

They work closely with suppliers to develop their processes and help them improve quality.

Manage relationships

The challenge for the purchasing department is to get the supplier interested in working with the company. Make the supplier invest in a long-term relationship.

The department also has to manage relationships within the company. You have to work with internal stakeholders, such as marketing, finance, logistics, and distribution, to ensure that they are all aligned.

Seek innovation
Because the purchasing department is always in contact with a variety of external businesses, it is in an ideal position to acquire innovative products that can provide a competitive advantage to the business in terms of price, quality or convenience.

see also finance and business knowledge

What Is Bookkeeping
What Are Taxes Payable
Armand Feigenbaum Biography
What Is Zero Base Budgeting
What Is Chart of Accounts


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ตอบกลับ #1 เมื่อ: พฤษภาคม 16, 2021, 01:57:55 pm
Rules for emergency funds
Start building up your emergency fund, said Christine DiGangi in “It may not be the most fun budget category,” but emergency funds are an essential part of personal finance. First off, define “emergency.” The answer “may not be the same for everyone,” but one rule of thumb is to maintain separate accounts for “income emergencies,” such as job loss, and “expense emergencies,” like paying for unexpected repairs. Financial planners suggest stashing the cash in a dedicated savings account to avoid the temptation of simply writing a check, but “if you don’t like the idea of letting money sit in a savings account,” you might consider a CD or a Roth IRA. Be wary of early withdrawal fees, but the higher yields will be a nice bonus if you don’t have an emergency after all.

Negotiating a debt settlement
Sort out your debts like a pro, said AJ Smith in While “there are countless services out there” for settling debts, “it is possible to resolve this on your own.” Begin by making a list of your creditors, and then prioritize the bills with the highest interest or smallest balances. Collectors typically won’t settle unless the account is delinquent, but “there is no guarantee they will accept a settlement even if you stop paying.” Being up front about your inability to pay may encourage them to negotiate. Calculate the “percentage of the debts you are able to pay and the maximum you can afford,” factor in other expenses, and start negotiating with a lowball offer: 25 or 30 percent of the balance. This “sets the tone” and will help you score a more realistic settlement, ideally between 40 and 60 percent of the original debt.

Countering cash buyers
Don’t get beat by all-cash bidders, said Daniel J. Goldstein in These days, all-cash deals are making the high-end housing market more competitive than ever. But for buyers who want to finance, there’s still hope. For example, some borrowers might combine “second mortgages home-equity lines of credit, and quick closings” to get a leg up. And since many all-cash bids come from overseas, the offers “can appear and disappear.” With a big down payment and some patience, “your financing-contingent offer still might have a shot.” And recruiting an expert—such as a real estate agent or a loan officer—can help you find sellers who are more “open to accepting bids with financing.”

The end of free checking
The age of free checking is fading, said Chris Morran in While U.S. consumers and businesses have $1.4 trillion stashed away—more than ever—in checking accounts, banks are limiting “the availability of unconditional free checking” and tightening their requirements, making it harder for many customers to avoid fees. Luckily, “there are still plenty of free checking accounts out there, but many of them are through smaller regional banks and credit unions.” Those institutions should be rewarded for continuing to offer a service that used to be—and still ought to be—a given. Consumers can do that “by moving their money, or putting it into interest-earning accounts so that they at least get something in return for allowing the bank to use their deposits.”

Curb your shopping enthusiasm
Stop overspending, said Donna Fuscaldo in If you’re hemorrhaging cash, one way to stanch the flow is to learn to keep your spending “triggers” in check. These days, “it’s easier than ever to hop online when we’re bored.” For compulsive shoppers, that can be dangerous, since “boredom or feeling stagnant is a common trigger.” Anxiety can also cause people to stress-shop, so “try other activities like taking a walk, chatting with a friend, or organizing a closet to regain some control.” And while “the idea of having to ‘keep up with the Joneses’ resonates” with many people, such insecurity can “drain our budgets.” One way to “prevent that trigger from turning into a bingeshopping spree is to set spending limits.” Try carrying only cash so you can better “fight the urge to use” your credit cards.

Retiring when self-employed
Can self-employed workers ever really retire? asked Michele Lerner in DailyFinance .com. Irregular income can make it difficult for self-employed people to save, but experts recommend they open a retirement account anyway. “You don’t have to fund it right away, but having it open will make it easier to contribute money when you do come into a windfall,” said Lule Demmissie of TD Ameritrade. Self-employed people also have a few special retirement options available to them, including SEP-IRAs, which have higher contribution limits than traditional and Roth IRAs, and Solo 401(k)s, which are ideal for self-employed workers with no additional employees.

How to switch bank accounts
Moving your money to a different bank “can be a huge hassle,” said Kristin Wong in Lifehacker .com. To make the process “as painless as possible,” start by finding the right bank, weighing your priorities and habits against balance requirements, fees, interest rates, and proximity to ATMs and branches. Before you close your old account, check for any unposted checks or scheduled payments to avoid incurring an overdraft fee. And don’t empty it right away. “Keep a small cushion in your old account until the transition is complete,” just in case. If you have set up automatic payments, remember to reroute them to your new account and “contact your employer and update your direct deposit info.” Once you think you’ve finished with your old bank, beware of “zombie accounts”: Some banks reopen recently closed accounts if a deposit is made, which can restart maintenance and minimum balance fees.

Index vs. actively managed funds
Torn between actively managed and index funds? asked Michael A. Pollock in The Wall Street Journal. The good news is you don’t have to choose. While “some investors swear” by one or the other, you can “  combine the two types of funds to achieve specific purposes.” Index funds are great for broad markets over long periods, but a skilled fund manager may be better for “less efficient market areas that don’t trade as actively and are slower to react to new information.” Indexes help you cash in on market rallies, while adding “a defensively minded active fund to your index holdings” can help “dial back overall volatility.” Some of both may be best.

Nailing your performance review
Don’t let your annual performance review “get you down,” said Daniel Bortz in CNN .com. These meetings offer “one of the few times of the year you get to chat with your boss about your career,” and you can use them to “set the stage for a big raise or promotion.” Submit a one-page self-evaluation before the review to set a baseline, summing up a handful of your contributions. Then “request a real critique” to get some useful feedback. Unfortunately, “budgets are typically set by the time of the review,” so don’t count on a raise. But ask for “details on the salary review process to help you prep for next year.” By finding out “how and when your raise was decided and who was consulted,” you’ll have a head start for the next review.

A very early 529 gift
Why wait until a child is born to start a 529 college savings plan? asked Peter S. Green in The Wall Street Journal. Anyone hoping to become a grandparent one day can open a 529 to “get the savings ball rolling early.” A future grandparent who designates the beneficiary as the future parent can contribute as much as $70,000 in a single year tax free (equal to five years’ worth of contributions at $14,000). When the infant arrives, the account can be transferred into his or her name. Starting early has major benefits: A 529 plan opened with an initial gift of $14,000, five years before a child is born, funded with $500 every month, and earning interest at 3 percent compounded monthly, would yield $226,784 by the child’s 18th birthday. The same plan started at birth would yield $167,336.

IRA and 401(k) changes in 2015
Some taxpayers will be able to save more in their retirement accounts next year, said Emily Brandon in The annual limit for 401(k)s and 403(b)s has been raised by $500, to $18,000. The IRA contribution limit has been left unchanged at $5,500, or $6,500 if you are 50 or older. Savers will also soon have a new account option: the myRA, the no-fee Roth IRA accounts offered by the Treasury Department and available later this year. The accounts are open to individuals who make less than $129,000 a year ($191,000 for couples) and are guaranteed to never lose value. And for those savers with several IRA accounts, a new rule takes effect Jan. 1 prohibiting more than one rollover from one IRA to another in any 12-month period.

Beware of power-sucking appliances
Don’t let “vampire appliances” bleed your bank account dry, said Catey Hill in “Even when you’re not using electronics and appliances, they may still be sucking up energy” and costing you hundreds of dollars a year. Utility experts estimate that roughly 10 percent of the average household’s energy bill is thanks to power-sucking appliances. Flat-screen TVs are often the priciest power drain, and though it’s impractical to unplug your TV each day, one option is to buy an advanced power strip, which prevents electronics from using power when they’re not in use. At a cost of $15 to $30, the strips will “save you money in the long run.” Experts also recommend using the power strips to plug in video game consoles, cable boxes, laser printers, and small kitchen appliances.

The right way to rent textbooks
If the high cost of textbooks has you in a panic, consider renting, said Ann Carrns in The New York Times. The average cost of college textbooks and supplies is about $1,200 per year, but more-affordable alternatives are becoming more popular. Last semester, more than a third of students rented at least one textbook, up from a quarter a year earlier. When deciding whether to rent or buy, start by comparing prices, both at your campus bookstore and online booksellers like and Amazon. If you rent and are worried about late fees, text and email reminders can help you stay in the clear. And don’t forget that there are a few downsides to renting, including fees for any damage and the fact that you won’t “recoup any of your money by reselling the volume.”

Consolidating IRAs with a spouse
If you and your spouse are trying to merge a retirement account, forget it, said Liz Weston in Though spouses can inherit retirement accounts after a partner’s death, retirement accounts are ultimately “like credit scores. Each person has his or her own, and they can’t be merged after marriage.” But if you’re trying to make managing your retirement funds more, well, manageable, consider consolidating your family’s accounts to a single investment firm. “Not only will it be easier to manage and coordinate your investments, but some firms lower or waive fees based on how much a household has invested with them.” Vanguard, for example, waives one of its annual fees when a household has combined assets of $50,000 or more.

The cost of retail-branded cards
Stay away from store credit cards, said Mitch Lipka in Though big signup discounts can make store-branded credit cards a tempting offer, a new survey released last week shows those initial savings will cost you—big time. The survey found that the average retail card’s annual percentage rate was 23.2 percent—more than eight points above the average credit card’s interest rate, “and more than double what consumers with good credit can get.” That means that a cardholder with a $1,000 balance on a typical store-branded card who makes minimum monthly payments would spend more than six years paying off the debt, including $840 in interest. That’s a year longer—and more than twice as much in interest—than the same balance on the typical nonstore card.

The benefits of aging
There are more perks to turning 50 than just cheap movie tickets, said Lindsay Gellman in The Wall Street Journal, but surveys indicate that fewer than half of eligible seniors are taking advantage of them. Unlike their youthful counterparts, investors who have hit the half-century mark can bolster their retirement savings by making pretax “catch-up  contributions” of up to $23,000 annually to their 401(k) accounts, $5,500 more than investors under 50 are allowed. Seniors can also put up to $6,500 toward an IRA, $1,000 more per year than permitted for younger investors. And while 59 ½ is typically the age at which retirement distributions can be taken without incurring a 10 percent early withdrawal penalty, workers who retire, quit, or are laid off can tap an employer-based savings plan penalty-free beginning the year they turn 55.

Keeping wealth in the family
While you can’t take it with you, the wealth you leave behind may not last as long as you’d like, said Beth Pinsker in Studies have shown that roughly 90 percent of families with at least $5 million in investable assets exhaust their estates within three generations. The main reason, according to new research from Merrill Lynch, is that many rich families have an “unreasonable expectation of how much they can withdraw and still have the money last.” It’s partly a math problem, as estate planners often don’t account for just how big families can get by the third or fourth generation, and thus fail to adjust distributions or lower expectations. Another major problem: Later generations rest on their laurels. “To make wealth last forever,” said study co-author Michael Liersch, “you’re probably going to need future generations to replenish that wealth.”

Cash floods the housing market
When it comes to home buying, cash is still king, said Doug Carroll in USA Today. Allcash home purchases accounted for one third of total sales in the first quarter this year, up from 29 percent in 2012. While speculators have been paying cash to snap up homes to rent or flip in recent years, the current trend is being driven by retirees and Baby Boomers who have been put off by the challenges of today’s mortgage market. Thanks to “decades of accumulated equity,” older Americans have the funds to buy a home outright or to buy rental property as an additional income stream during retirement.



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ตอบกลับ #2 เมื่อ: พฤษภาคม 16, 2021, 01:58:28 pm
Finding Travel Insurance After A Cancer Diagnosis
For people suffering from cancer and other serious conditions, finding adequate travel insurance can be tricky. But help is at hand from specialist companies providing great cover at reasonable cost

Finding suitable travel insurance after a cancer diagnosis can be fraught with problems. The premiums quoted online often cost more than the holiday or else any claim relating to the cancer is excluded.

Action is underway that should lead to better levels of insurance and more reasonable prices for those with medical conditions. But in the meantime consumers must know where to look to avoid buying inadequate cover.

All insurers and comparison websites will soon be required to signpost consumers with preexisting conditions to specialist travel insurers, whether they have offered them a quote for cover or not. It follows an investigation into this market by the regulator - the Financial Conduct Authority.

Andrew Williams, business development manager for specialist travel insurer Free Spirit, says: "The FCA is in discussions with insurers, and changes should be coming soon, which is great news for anyone with cancer or any other serious condition who has struggled to find insurance. Cover is out there for people in this situation but it can be difficult to know how to get it."

A recent survey by consumer group Which? found that when consumers with pre-existing medical conditions apply for travel insurance, around one in five are only offered cover that excludes claims arising from their condition and one in four faced inflated premiums.

"Research by Which? highlights the importance of speaking to a specialist broker or insurer when you have cancer or other medical condition," says Sarah Page, brand manager for specialist insurer Insurancewith. “Not everyone's situation is going to fit neatly into the tick boxes on a screen when applying for cover."

Ms Page adds: “At Insurancewith we can offer one-to-one medical underwriting and policies tailored to your specific needs so the price more accurately reflects the risk. This usually makes it much more affordable, particularly for someone with cancer.”

The type of cancer you have, its stage, your treatment and your medication will all affect the premium, as will your age - with older consumers typically having to pay more, as statistically they are more likely to claim.

Your choice of destination and the duration of the trip will also have a bearing on the cost. This is because the cost of healthcare in different countries varies widely. In Spain, for example, tourists will often be directed to private clinics when they need medical attention - this can vastly inflate the cost of a claim, compared to state-funded healthcare. Healthcare in the US and Australia, for example, can also be expensive.

The delay to Brexit means holidaymakers to European Union countries can continue to use the European Health Insurance Card (known as EHIC) for now - although future arrangements are unclear. EHIC entitles you to emergency state healthcare in EU countries. But consumers should not rely on this as an alternative to travel insurance. The standards of care may be much lower than with the NHS. It also won't cover the costs of repatriation.

The majority of insurers in the market use medical screening software called Healix, although a number use a different package called Protectif. The screening will ask questions about your condition and treatment to arrive at a 'medical score' before offering a premium cost for the travel insurance. As the two screening methods are slightly different it can be worthwhile getting quotes from a range of insurers that use different screening software.

Chris Rolland, chief executive at specialist insurer AllClear, says: "Declare everything. You will be asked to provide answers to set questions relating to each medical condition to ensure the insurer gets the information it needs to offer appropriate cover."

Using a broker can be helpful as it will look across a broad spectrum of providers to find you the best cover and price for your needs. The British Insurance Brokers' Association (BIBA) website at biba. can help you find one.

For most people with cancer and serious pre-existing conditions, and even those with a terminal diagnosis, it should be possible to find cover at a reasonable cost, although in some circumstances specific and tailored underwriting may be necessary.

Fi Munro, 33, from Errol, Perthshire, was diagnosed with stage-4b ovarian cancer in January 2016. She has since written a book How Long Have I Got?, set up an award-winning blog - Live Like You are Dying - and started her own businesses teaching yoga and meditation.

Fi says: "After the diagnosis I just wanted to live my life in the way I wanted and without barriers. I love to travel, but looking around for insurance that would cover me and my cancer was so difficult.

"A medical professional recommended that I speak to Insurancewith,” she adds. “I just couldn't believe the difference in its approach - and also the cost. It was so much cheaper than the mainstream brands that I'd previously been looking at."

Fi takes out single-trip cover for each holiday. Cover for her and her husband, Ewan, for a two-week trip to France in April cost ?85, for example. It is a stark contrast to the hundreds of pounds she could be charged with less specialist insurers. According to experts, it is a good idea to take out joint cover with the same insurer, even where one person in a couple does not have any preexisting medical conditions. The cost should not be any higher.

Mr Williams at Free Spirit says: "There could be complications if you need to cancel your trip due to illness, but your partner's separate insurance won't cover the cancellation."

Insurer AllClear offers Travelling companion' cover for travellers who are insured with a different provider for cancellation or curtailment as a result of the pre-existing condition of their travelling companion under AllClear. Think about purchasing travel insurance even for trips booked in the UK - because cancellation is among the main reasons for claiming on a policy for those with medical conditions.

How to Keep Premiums Down Shop Around:
Do your research and speak to different specialist insurers. A broker should be able to scour the market to find different policies to suit your needs at a reasonable price. Opt for a larger excess: By agreeing to pay a higher excess - the first part of any insurance claim that you must pay - it may be possible to lower the premium. Book holidays closer to the time of travel: If you can reduce the risk of cancellation due to ill health and can exclude cancellation cover from your insurance this should bring the premium down.

Consider changing destination and reduce length of trip: Insurance for travel to some countries will be much more expensive, so if you have not yet booked your trip talk to insurers and find out where might be cheapest. Shorter trips mean a lower risk of a claim and will bring insurance costs down.

Most insurers will ask about any treatment or prescribed medication you have taken within the last two years, or if you have been an in-or outpatient at a hospital, clinic or GP in the same time frame. It means if you had cancer three years ago, for example, but you can answer 'no' to these questions you will not need to declare the cancer and your premium should be much lower.

Cost Was Greater but Reasonable
Many holidaymakers with pre-existing conditions decide to take a gamble and travel without insurance because they feel the premium cost is unaffordable. But this is a high-risk strategy.

John Carpenter was extremely glad he had taken out annual travel insurance when he was forced to cancel a cruise he had booked for his wife Linda's birthday last year, after a lump appeared in his neck and he needed urgent chemotherapy.

John, in his early-60s, had been diagnosed with lymphoma in 2016. At that time doctors advised him to wait and see because his symptoms did not warrant immediate treatment. John and Linda, who love to travel, continued to take many holidays each year - although, due to his cancer, John now took out cover with specialist insurer AllClear, rather than buying cover through his travel agent as he always had done in the past.

“At ?500 for annual worldwide cover my condition did mean a significant increase to the cost of cover," says John. "But I felt it was reasonable considering the cruise I had planned and that it included the US, renowned for its high medical costs."

The couple received a 25% refund on the cost of their ?3,000 holiday from the cruise company and luckily, the terms of AllClear's cover meant that they could reclaim the remainder on their insurance, minus the ?250 excess.

"We were sent an email confirming our claim had been successful within two days," says John, "and the payment was in my bank account within seven days of making the claim.”

John responded well to treatment and has stem cell therapy planned. He has been advised he is well enough to go on holiday before this treatment starts and AllClear has provided a new policy, taking into account his current medical situation. He has taken out a single trip policy for ?200 for a seven-night break to Turkey.
Souce Moneywise


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ตอบกลับ #3 เมื่อ: กรกฎาคม 08, 2021, 12:15:07 am
Payable liabilities

A callable liability is defined as a company's legal financial debts or obligations that arise during the course of business operations. Liabilities are canceled over time through the transfer of economic benefits, such as money, products or services.

Therefore, an enforceable liability is a debt of a company that requires the entity to give up an economic benefit (cash, assets, etc.) to pay for past transactions or events.

It is recorded on the right side of the balance sheet. Includes loans, accounts payable, mortgages, deferred income, and accrued expenses. In general, enforceable liability refers to the state of being responsible for something, and this term can refer to any money or service owed to another party.

Callable liabilities are a vital aspect of a business because they are used to finance operations and pay for large expansions. They can also make transactions between companies more efficient.

What does it consist of?
Callable liabilities are debts and obligations of the business that represent a creditor's claim on the assets of the business.

An enforceable liability is increased in the accounting records with a credit and reduced with a debit. It can be considered a source of funds, as an amount owed to a third party is essentially borrowed money that can then be used to support the asset base of a business.

It is possible that an enforceable liability is negative, arising when a company pays more than the amount of a liability. This theoretically creates an asset for the amount of the overpayment. Negative liabilities tend to be quite small.

- Any type of loan from people or banks to improve a business or personal income, to be paid in the short or long term.

- A duty or responsibility towards others, whose cancellation implies the transfer or future use of assets, a provision of services, or another transaction that produces an economic benefit, on a specified or determinable date, with the occurrence of a specific event or by being required.

- A duty or responsibility that obliges the entity to others, leaving little or no discretion to avoid its cancellation.

Classification of payable liabilities
Companies classify their callable liabilities into two categories: short-term and long-term. Short-term receivables are debts payable within one year. Long-term receivables are debts that are payable over a longer period of time.

Ideally, analysts reasonably expect a company to be able to pay its short-term liabilities with cash. On the other hand, analysts expect that long-term liabilities can be paid with assets derived from future earnings or with financing transactions.

For example, if a company obtains a mortgage to be paid in a period of 15 years, that is a long-term liability.

However, mortgage payments due during the current year are considered the short-term portion of long-term debt and are recorded in the short-term receivables section of the balance sheet.

The general time frame separating these two distinctions is one year, but it can change by business.

Relationship between liabilities and assets
Assets are the things a business owns, including tangible items such as buildings, machinery, and equipment, as well as intangible items such as accounts receivable, patents, or intellectual property.

If a company subtracts its liabilities from its assets, the difference is the equity of its owners or shareholders. This relationship can be expressed as:

Assets - Callable liabilities = Owner's capital.

However, in most cases, this equation is commonly presented as: Liabilities + Equity = Assets.

Difference between an expense and a callable liability
An expense is the cost of operations that a business incurs to generate revenue. Unlike assets and liabilities, expenses are related to income, and both are listed on a company's income financial knowledge statement.

Expenses are used to calculate net income. The equation for calculating net income is income minus expenses. If a company has more expenses than income in the last three years, it may indicate weak financial stability, because it has been losing money in those years.

Expenses and liabilities due should not be confused with each other. The second is reflected in a company's balance sheet, while the first appears in the company's income statement.

Expenses are the costs of operating a company, while liabilities due are the obligations and debts that a company has.

If a wine supplier sells a case of wine to a restaurant, in most cases they do not require payment when they deliver the merchandise. Instead, you invoice the restaurant for the purchase in order to simplify delivery and facilitate the restaurant's payment.

The outstanding money that the restaurant owes its wine supplier is considered a callable liability. On the other hand, the wine supplier considers the money owed to him to be an asset.

When a business deposits cash with a bank, the bank records a callable liability on its balance sheet. This represents the obligation to pay the depositor, generally when the latter requires it. Simultaneously, following the double entry principle, the bank records the cash itself, as an asset.

Short-term and long-term liabilities
Examples of short-term liabilities are payroll expenses and accounts payable, such as money owed to vendors, monthly utilities, and similar expenses.

Debt is not the only long-term liability incurred by the company. Rent, deferred taxes, payroll, long-term bonds, interest payable, and pension obligations can also be listed under long-term liability.

Balance sheet of a company
The balance sheet of a company reports assets of $ 100,000, accounts payable (liabilities due) of $ 40,000 and equity of $ 60,000.

The source of the company's assets are creditors / suppliers for $ 40,000, and owners for $ 60,000.

Creditors / suppliers thus have a claim against the assets of the company. The owner can claim what remains after the due liabilities have been paid.

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ตอบกลับ #4 เมื่อ: กรกฎาคม 08, 2021, 12:15:51 am

According to NerdWallet's Millennials & Homebuying Study, the top 5 reasons young renters choose to own are:

1. To Have Control over Their Living Space - 93%
Many Millennials who rent a home or apartment prior to buying their own homes, dream of the day that they will be able to paint the walls whatever color they'd like, or renovate an outdated part of their living space. Many others who have waited to add a pet to their families daydream about the day that they'll be able to go pick out their 'furever'friend. Owning your own home gives you the freedom to make those choices.

2. To Have a sense of Privacy & Security - 90%
It is no surprise that having a place to call home, with all that means, in comfort and security, is the #2 reason. As a homeowner, you have control over who has access to your home, and you are able to secure it how you see fit.

3. To Live in a Nicer Home - 81%
Similar to the #1 reason, when you purchase a home, you can choose to live in a nicer home or choose to renovate a home & restore its glory. Owning also allows you to accommodate your growing family or a family member who may need to move in.

4. To Feel Engaged in Their Community - 75%
Owning a home in a community is one of the major reasons why residents become more civically involved. The stakes are raised once your home value is directly tied to the neighborhood and community in which you live.

5. To Have Flexibility in Future Decisions - 53%
Owning a home allows you to use your monthly housing cost as a savings account that can be borrowed against in the future. Having this option available during uncertain times is just one of many reasons why homeowners feel more secure in their homes.

"The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons - including control of living space, flexibility in future decisions, privacy and security, and living in a nice home."

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ตอบกลับ #5 เมื่อ: กรกฎาคม 23, 2022, 02:38:02 am
One of the most common questions that personal Injury lawyers get asked is how much someone's car accident settlement is worth. This infographic breaks down the various factors involved In car accident injury case valuations.

No two injuries are the same. Similarly, no two car accidents are the same. There are tiny variables and differences in how these events can affect one's life. All of these things factor into the value of your case. That is why both your lawyer and the insurance company will treat each case on its own.

Generally, if you have injuries that seem serious, your case will be more valuable. That's because juries are affected by serious looking injuries. Both your car accident lawyer and the insurance company will be taking the potential jury reaction into account because they would actually determine the outcome of your case if negotiations break down.

- Is the injury visible?
- Does it look serious?
- Did it require any invasive surgical procedures?
- Did you not respond well to initial treatment and did it take months or longer to improve?
- Were you left you with permanent pain, disability or limitation?

Calculating the cost of an injury is based in part on how much your life was affected, including:
- Does the injury Interfere with your normal day to day life?
- Will you continue to have pain in the future?
- Is your ability to work affected?
- Do you have emotional anguish from your injury?

Getting checked out by a medical professional serves more than one purpose.
- Get yourself on the road to better health. This is by far the most important thing after an
- Start building evidence for your case. This will help drive up the value of your claim and give the insurance companies a doctor's examination that they must at least recognize.

Your car accident lawyer and the insurance company calculate the value of your case in differing ways. Insurance companies tend to arrive at a lower number than your lawyer. This is a key reason why having an experienced lawyer will aid your case.

In most cases, insurance companies use an algorithm to calculate the value of a car accident settlement. An insurance adjuster inputs the type of injury you have and some other factors and then a computer provides a settlement amount based on other similar cases.

- Minor whiplash: Minor cost of medical bills & maybe $3,000 extra - Moderate whiplash: Minor cost of medical bills & maybe $4,000 - Serious whiplash: $10,000 in medical bills & $5,000-$10,000 extra, - Joint/tissue damage (easy treatment & physical therapy): Cost of medical bills & $10,000 extra - Joint/tissue damage (ongoing treatment): Probably at least $25,000 or more. - Injuries that require surgery: Potentially $50,000 or more - Severe/life-threatening Injuries: Easily more than $100,000

The more serious your injury, the more beneficial having a lawyer can be. For minor injuries, a lawyer could make a difference of $3,000 to your case value. For serious injuries or a long term disability, hiring a lawyer could be worth tens of thousands more for your case.

1. Seeing a doctor immediately.
2. Not signing anything or saying much to the insurance company without a lawyer.
3. Going to specialists who understand your specific type of injury.
4. Having a lawyer represent your case. Take care of those four things and your legal team will handle the rest!



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ตอบกลับ #6 เมื่อ: กรกฎาคม 23, 2022, 02:38:27 am
Insure Assets and Liabilities How is It Different
There are many forms of saving money. But many people tend to overlook the savings in the form of their own property insurance. Which insures assets and liabilities It is like protecting your financial and property security for yourself. When achieving a certain period of life and having accumulated savings in an increasing amount Without anticipating future events.

Therefore, what will help prevent your savings from depleting unexpected situations, that is, assets and liabilities insurance can be divided to insure assets and liabilities. How is the difference as follows:

Is a form of home insurance, car insurance in order to prevent and help alleviate the burden If assets are damaged unexpectedly Of course, when having a house and own car Would like to keep and keep with us for a long time until old age Therefore, to prevent Must therefore be protected first by insuring assets such as house fire insurance Or car insurance In order to reduce the risk that may occur And if an event that does not want to occur Getting property insurance will help with compensation for losses. And so you can start again

Liability insurance It is a form of support that provides peace of mind and a stable feeling for those you need to take care of, such as a wife or children, including creditors. If unexpected events occur Who is the main bow for raising money into the family If there is a time ahead of time Whether the house debt is being paid by installments Or cars that have not yet passed the ring value Including the outstanding credit card debt Will not cause problems resulting from home confiscated by financial institutions or cars being confiscated or even having to raise money to close credit card debt Due to the guarantee of debt burden No burden And does not cause concern for those who are behind to have to carry that burden

Therefore, the way to build confidence and stability for you and those around you can feel at ease. If unexpected events occur That is to insure assets and liabilities.

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ตอบกลับ #7 เมื่อ: ธันวาคม 16, 2022, 02:27:18 am
PepsiCo to lay off hundreds of U.S. corporate workers
Foreign  [Music]  catch up with you once we know the  results of that for sure all right and  thing number three this morning PepsiCo  is reportedly cutting hundreds of  corporate jobs in its U.S offices that's  according to the Wall Street Journal  this move indicating that cost cutting  measures are extending Beyond big Tech  we've already heard some examples of  that but this is one of the bigger uh  ones of that right and it's also  interesting because the journal is  saying these cuts are happening more on  the beverage side because there's also  been already been some regret  organizations on the snack and food side  but still for a company of this size for  there to be reports of Finance and Business this nature which  it has not confirmed by the way but  nonetheless it's just again another  temperature read on where we are right  now yeah PepsiCo declined to come into  uh to Yahoo Finance on those potential  Cuts but look I've been covering PepsiCo  for a very long time and one thing that  has always stood out this is a company  maniacal on managing costs especially  towards the end of the year also let's  keep in mind this is also a company this  year that said that it will no longer  sponsor the Super Bowl halftime show in  another likely cost cutting measure  under Co Ramon laguarto who has really  proven that he wants to cut expenses at  this company now we asked longtime CFO  Hugh Johnston about their efforts to cut  expenses when they reported earnings in  October take a listen  we we did beginning in the fourth  quarter we we took some more pricing uh  again all of that is based on commodity  input costs which continue to to be  higher uh for the year we'll be in the  high teens in terms of our commodity  input costs so where our pricing has  been a little bit less than than what  we've experienced in inflation but  frankly we focused on all the other  aspects of our cost structure as well so  while gross margins were down a bit  operating margins were up as we've  managed the balance of the cost  structure very tightly and Pepsi PepsiCo  is very cognizant of their stock price  it is outperformed this year and and one  of the reasons why because they get a  lot of credit for cutting expenses and  if they want to keep that stock price  going they're going to probably have to  get a little bit leaner going into next  year yeah within that pricing uh they  had even said at the outset of the  earnings that came forward uh last  quarter that some of their brands are  being stretched to higher price points  to the point that he was making a moment  ago as well as yours and the consumers  are following us now that kind of  dovetails into what we're hearing this  morning out of even CEO Brian Moynihan  of Bank of America saying that consumers  are resilient and for consumers who are  actually looking across some of the  brands that are making it into their  homes still and across the Necessities  prices that are elevated for them it is  a question of for a company of Pepsi of  those brands that you continue to  manufacture how are you continuing to  find favorability even at higher price  points and how are those price points  also offsetting What Is a Structured Settlement Annuity some of the expenses  that you're seeing on the wage front  that are also elevated for them and many  other companies that have cited that as  part of their head count reduction I  mean effectively the period we're in  right now is the tide is is going out  right and you see who is vulnerable in  this I don't know what the metaphor is  but you know what I'm saying yeah yeah  you know you see you see that there are  vulnerable even if consumer spending is  strong right if there are inefficiencies  in your business now is the time that  you're going to be trying to eliminate  those inefficiencies.

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ตอบกลับ #8 เมื่อ: ธันวาคม 16, 2022, 02:27:44 am
Warren Buffett Predicts A Horrible Economic Crisis Where EVERYTHING WILL COLLAPSE
I would like to uh just go over two  items that I would like particularly new  entrance to the stock market to ponder  just a bit before they try and do 30 or  40 trades a day in order to profit what  from what looks like in a very uh easy  game so I would like to uh go to  slide L1 so put that up and these I on  March 31st I ran off a list of the 20  largest companies in the world by stock  market value those names that many of  which will be familiar to but they were  led by Apple slightly over 2 trillion  and it went down to the number 20th was  worth 330 odd billion but those are the  20 largest companies in the world why  market value on March 31st  now if I had a little  I was hoping I could get a little uh  quiz machine so I could have a really  weigh in on this answer and we can Flash  up a little later but oh technically  impossible for but what I would like you  to do is look at that list um  starts off with apple and Saudi aramco  is a pretty kind of a specialized  country as a company it's I don't know  whether it's 95 owned by the government  or by the but it's it's essentially a  country that's for sale in terms of that  business I've had but the the top um six  companies five of them are American so  when you hear people say that America  hasn't yeah it's got all of them it's  not working subprime mortgage very well or something the  sort you know in the whole world of the  sex topic companies in value of five of  them are in the United States and if you  think about it you know we talked a  little about this last year but in 1790  we had one half of one percent of the  world's population and a little less we  had four million people 3.9 million  people 600 000 of them were slaves  Ireland had more people than the United  States had Russia had five times as many  people as the U.S that Ukraine had twice  as many people as the United States so  here we were oh what did we have we had  a map for the future an aspirational map  that uh somehow  now only 200 and well after the  Constitution  232 years uh later leaves us with five  of the top six companies in the world  you know it's not an accident  and it's not because we're way smarter  the way stronger you know anything like  a short we had good soil decent climate  but so some of those other countries I  named uh and uh the system has worked  unbelievably well just imagine  thinking of five of the top six  companies in the world ending up with a  country that started with a half a one  percent of a population just a few  hundred years ago but what I would like  you to do  is look at that list  for a minute or two if you want to and  and then make an estimate  make your own guess  how many of those companies are going to  be on the list 30 years from now here  they are these powerhouses and I'm gonna  wish you guys to come back on the list  well you know it's not gonna be all 20.  it may not even be the old 20 today or  tomorrow  this was March 31st what would you guess  and think about that yourself would you  put on five eight well whatever it would  be  I would now invite you to look at slide  two or L2  which goes back a little more than 30  years and look at the top 20 from 1989  and if you look at the top 20 from 1989  there's two things that we should grab  your interest at least two none of the  20 or 30 years ago or on the present  list none zero  there were then six U.S companies on the  list and their names are familiar to you  that they have uh General Electric we  have Exxon we have IBM Corp and these loans for those with bad credit are  they're still around Merk is down there  that number none made it to the list 30  years later or zero and I would guess  that very few of you when I asked you to  play the quiz a little of him minutes  ago would have put down zero and I don't  think it will be zero but it is a  reminder  of what extraordinary things  can happen things that seem obvious to  you Japan had this wonderful bull market  for a very long time so he had a number  of Japanese companies on the list today  there there are none and uh the United  States has a six now we have 13 but they  are the same six I would invite you to  think about one other thing as you look  at this list  1989 was not the Dark Ages I mean we  weren't just discovering capitalism or  anything else  people thought they knew a lot about the  stock market and the efficient market  theory was in and they were uh it was  not a backward time and if you look the  top company at that time had a market  value of 100 billion 104 billion so the  largest company in the world title in  just shade over 30 years has gone from  100 billion to 2 trillion at the bottom  the number 20 has gone from 34 billion  to something a little over 10 times that  well that tells you something about  what's happened with equality which is a  Hudson subject in in this country it  tells you know a little bit about  inflation but this was not a highly  inflationary period as a whole but it  tells you that capitalism has worked  incredibly well especially for the  capitalists and uh it's a pretty  astounding number do you think you think  it could be repeated now that 30 years  from now that you could take two  trillion for apple and multiply any  company and come up with 30 times that  for the leader yeah it seems impossible  and maybe it is impossible commercial real estate loans but that just  we were just as sure of ourselves  as investors and Wall Street was in 1989  as we are today but the world can change  in very very dramatic ways and  we'll just give you one other example  you might Ponder this is let me start  feeling too sure of yourself one thing  it shows incidentally is that it's a  great argument for index funds is that  uh you know it the main thing to do is  to be aboard the ship now a ship you  know they were all going to a better  promised land used to know which one was  the one they necessarily get on but but  you couldn't help but do well if you  just had a diversified group of equities  EOS equal these would be my preference  but to hold over a 30-year period but if  you thought you knew a lot about which  ones to pick or the person that you had  hiring you were paying a lot of money to  had all these ideas and uh they could  tell you their best ideas in 1989 did  not necessarily do that well although  overall equities were absolutely the  place to be secondly people get  enormously attracted to various  Industries I mean they think of even  they think if you know oh the company  says it's in the XYZ industry and that's  a popular one you can you can sell IPOs  you can you can sell specs you can  people that disregard sales numbers  earnings numbers that just you know it's  the place to be so Berkshire Hathaway  what was the place to be in  1903 when my uh my dad was born in 1903  but that wasn't really that big of news  but it wasn't big news that actually  Henry Ford was starting the Ford Motor  Company failed a couple of times before  but he was about to change the world I  mean the the auto when you think about  everything we've got a great auto  insurance company if there weren't any  orders we wouldn't have Geico uh but it  transformed the country and then report  brought in the five dollar daily wage  and that was a huge thing assembly lines  everything Autos came along so let's  just assume that you had seen a quick  glance back in 1903 of all the  interstate highways 290 million vehicles  on the road in the United States you  know everything about it and say well  this is pretty easy it's going to be  cars it's gonna be autos  well we own a company called Marmon we  bought it from the pritzker family some  years ago pritzkers had built this debt consolidation loan rates business from many many many companies  that they'd acquired  and the name of their company was Marmon  and uh  I don't know exactly why Jay and Bob  decided to name it Marmon but they did  own a company called Marmon  and the Mormon company is getting  slightly out of me on the slides again  but that's okay we called it it was they  owned this company Marmon which in 1911  had been a uh the company whose car won  the first Indianapolis 500. maybe that's  why they called it Martin they were  proud of the fact that the company in  1911 named the one of the first  Indianapolis 500. it also was the  company that invented the rear view  mirror I'm not sure whether that was a  big contribution to society and  certainly around your household  maybe you don't want to emphasize too  much but but they uh the car that was  entered in the Annapolis 500 the the guy  who normally sat next to the driver and  looked backwards to tell what the  competitors were doing he was sick so  they they invented the rear view of  mirror so let's just assume that you  decided that Autos were this incredible  thing and someday there'd be in  Indianapolis 500 and something they have  a review mirrors on cars and someday 290  million cars would be buzzing around the  United States or autos and the county  trucks there and so I decided to look at  the history and I thought I'd put up the  list of  auto companies from  over the years  and I was originally going to put up  just the ones that were the m so I could  get them on one slide but when I went to  the M's it went on and on and on so I  just decided to put up the ones that  started with M A and as you can see  there were almost 40 companies that went  into the auto business just starting  with ma including our little our Mormon  there in the middle column and uh which  lasted for a while quite a while but uh  it was selling cars in the 1930s were  really quite special but in any event  there were at least 2 000 companies  then entered the auto business  because it clearly had this incredible  future and of course you remember that  in 2009 there were three left two of  which went bankrupt so there is a lot  more to picking stocks than figuring out  you know what's going to be a wonderful  industry in the future uh the Maytag  company put on a car also they put on a  car Dupont put on the car I mean there  was a Nebraska motor company that  everybody started car companies just  like everybody's starting something now  that can be where you can get money from  people but there were very very very few  people that picked the winner get they  got the opportunity for at Ford motor  Henry Ford had a few partners and he  really didn't like them so he figured a  way to buy them out that was sort of the  uh was sort of the beginning of the on  the auto finance so that's a long story  but we won't get into that but you  couldn't Buy in the Ford motor and of  course General Motors became the the  dominant company uh finding one Henry  Ford did not really make the shift from  the Model T to the model Library did not  work very well so I just want to tell  you it's not as easy as it sounds.