Tuesday, 27 April 2010
Monday, 26 April 2010
How to Get Rich
I believe every individual is responsible to get rich if he is not already for this to achieve it requires proper goal, direction and hard work.
How to earn beyond normal salary:
- Start a new Company: you need a business idea + hard work + good advice + passion
- Win big in a lottery: success probable? the chance is slightly above 0 and less than 0.01
- Inheritance: if you're lucky enough
- Marry a person who is already rich
- Steal it: people with moral values wouldn't take this option obviously even if they are able to do so but of course it would depend on the temptation and the individual personality
- Deal it: sometime you can deal what you have with something else
- Investment: investing in real estate or stock market. Stock market is too risky, property gives you in average 10% house price increase.
Is there any other way that you can imagine?
Along the way you need:
- Increase your financial wisdom by learning about finance and business from books, experts, already successful people, reliable websites
- Persistent Hard Work: if you work hard for 1 week then give up, nothing will change
- Creativity: this can be developed by using the Dreaming technique
- Know the opportunities happy to you and grab them; say YES to Opportunities and Ideas. YES let's do it. YES It's possible. YES let's try it. YES, do it screw it.
- Learn from self-made rich people; how did they become rich - get all information you can about what they are doing now
- Recognize that time is money
- When focusing on high-priority tasks, get the job done well, and get the job done fast.
- Ask for a pay raise or get a promotion; learn to stop being a people pleaser; pushover life
- Be proactive and react to opportunities appropriately
- Invest in assets (property, bond, savings, stocks, mutual funds, patents) rather than liabilities (car)
- Save: a penny saved is a penny earned
- Learn about investment options: bond, stocks, mutual funds
- Think Big
Sunday, 28 March 2010
Wednesday, 13 January 2010
Monday, 7 December 2009
Accountants
Responsibilities of an Accountant:
- Prepare profit and loss statements and monthly closing and cost accounting reports.
- Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions.
- Establish, maintain, and coordinate the implementation of accounting and accounting control procedures.
- Analyze and review budgets and expenditures for local, state, federal, and private funding, contracts, and grants.
- Monitor and review accounting and related system reports for accuracy and completeness.
- Prepare and review budget, revenue, expense, payroll entries, invoices, and other accounting documents.
- Analyze revenue and expenditure trends and recommend appropriate budget levels, and ensure expenditure control.
- Explain billing invoices and accounting policies to staff, vendors and clients.
- Resolve accounting discrepancies.
- Recommend, develop and maintain financial data bases, computer software systems and manual filing systems.
- Supervise the input and handling of financial data and reports for the company's automated financial systems.
- Interact with internal and external auditors in completing audits.
- Other duties as assigned
Who needs an Accountant:
Simply put, If you own a Company, you would need an accountant to take care of your Company accountancy activities; invoices, payrolls, expenses, etc.
Well-known Accountancies for IT Contractors in London:
| Accountancy | Notes |
| http://www.freestyleaccounting.com | ACCA and PCG Accredited Accountant |
| http://firstchoiceaccountancy.com/ | PCG Affiliate |
| http://www.nixonwilliams.com/ | PCG Affiliate |
| http://www.truedynamic.com/ | PCG Affiliate |
| http://bkl.co.uk/ | ACCA |
Saturday, 5 December 2009
First Time Contractors
http://www.contractoruk.com/first_timers/index.html
http://www.contractoruk.com/guides/wary_consultancy_contract.html
Terms you need to learn about:
Limited Company
Umbrella Company
Your Invoicing Company
Personal Service Company
HMRC
Accountant
Your Timesheets:
- http://www.contractoruk.com/first_timers/timesheets_invoices.html
- Often done online
Your Expenses
Finance Director
- As a Contractor you are your own Finance Director and you have responsibilitie
Contract
- The contract is what you sign between yourself and the client or agency
- With regard to IR35, your contract must reflect the specific terms of engagement
- http://www.contractoruk.com/guides/wary_consultancy_contract.html
IR35
- Is a law to caught Contractors whose work conditions make them to be considered as an Employee (Pays more tax) as far as law is concerned
Review Your Contract Before HMRC Do
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