If you plan to go big with your business, you can never neglect the importance of Financial Management. It is an essential tool that is required to move ahead with your expansion plans. Generally, this critical aspect is disregarded because the entrepreneurs are unaware of its advantages and uses. Financial reports can help aid in making important future decisions. If you have a solo or micro business, then it is not imperative to make use of Financial Management. But as I mentioned earlier, if you plan to make it big in the world of business and commerce, you should make Financial Management your forte!

Accounting and Financial Reports It is very important to keep track of your companys origin and its past history, particularly an account of the money that has been spent. When you analyze the financial reports, you will be aware of all the spending and expenses accurately. The earnings from specific services, product lines and sales staff all will come into clear focus once you have gone through the financial reports. This will help you to manage your expenses and marketing accordingly.

Financial Ratios These ratios gives you all the information that you need to know about your business. Moreover, it is very easy to calculate. This way you can compare your companys standard with others. Financial ratios are not essential but it can point out your faults.

Research A little bit of research on the expenses managed by other companies will help you manage yours better and your bottom line could increase. You might need to tweak the procedures, alter operations, streamline competencies or shake up the staff for a better performance. Analyzing the financial ratios will guide you towards the area you are most weak in so that you can develop a strategy to enhance the efficiency of your business.

Financial Statements All the patterns in your expenses are exposed with the help of Financial Statements. Sales Trends comes into attention whether impacted by the season, changing consumer taste or other factors. This helps you to manage your inventories better, staff levels and sales promotions. Variable expenses and unusual or unauthorized expenses can be monitored with the help of Financial Statements. This will aid you in occasions of theft, embezzlement or other questionable activity before the stakes become too high.

Economic highs and lows affect all companies and these periods of change is a test for all. Some stumble, some even fail and there are some who stand unscathed. But the economic growth of all companies is affected collectively. Sometimes the growth is totally unplanned and the expansion occurs due to some external factor which can range from landing a large account to just finding a great deal on a second location space. Always remember that without proper and concrete planning, no business can survive.

Financial planning and management is not only for reviewing the financial statements but also to be aware of your expenses and then manage them in such a way that they dont go waste. You can use it to fund your future realistic projects and help your business go big.

At present, nearly all government or private organizations have at least one financial manager to guide investment activities, manage the groundwork of financial reports and develop and carry out cash-management schemes</a>. These days, every organization, whether big or small has financial managers, and they hold a key and responsible position.

Financial managers also called as financial consultants or personal financial advisors use their knowledge of investments, tax laws, insurance and real estate to recommend financial options to individuals based on their short-term and long-term goals. Considering the work responsibilities and expectations of employers every firm looks for a skillful employee who can direct their business to the right path. Hence, to compete with ever changing requirements of employers getting a degree in financial management is must.

Typically, a career in the financial management needs at least a master’s degree. Courses available in the financial management in the United States include fundamentals of business law, accounting, management principles, e-commerce, ethics, finances, tax laws and other related topics. These programs help students learn the skills of focusing on different aspects of business like systems integration, business strategies, e-commerce, technology consulting, and human resources. With Master’s degree you can have a greater opportunity for promotion and advancement in your career field.

Since, financial managers can be found in every organization, their demand goes higher than any available positions in the market. Moreover, employment growth for financial managers is anticipated to be as fast as the average for all occupations. Apart from this greater demand for highly skilled financial professionals, make the career outlook even more excellent.

In fact, if we study the recent data then by the year 2016 the demand is expected to grow by 13%. Regulatory reforms along with the expansion and globalization of the economy will raise the need for financial expertise and drive job growth. Both the creation of new businesses and growth of established companies will spur demand for financial managers, controller, treasurer/finance officer, credit manager, cash manager, and risk/insurance manager.

Hence, to get into the rush of grabbing a honourable and responsible accounting position the first and foremost thing is to equip yourself with all the skills, which are in high demand in the financial market. For this you need to enroll in a recognized school where you can learn all the techniques of managing finance.

Physicians always seek a smart way to tackle with the tedious paperwork and concentrate on the health care of their patients. They want to keep a track on the health history of their patients without juggling the documents. Document management software offers this service to capture, store and assimilates scanned financial papers and other documents making it instantly and easily accessible just by clicking.

Document management software carries certain specialty. It is developed in a user friendly mode and makes it feasible for a person to organize chart differently according to their practices. The user can easily create folder and store documents under names which he can find easily later. The software is also considered for efficiency and smooth work. The burden of storing faxes and piles of bills mitigates significantly because of the automation process done from and to other applications including the EMR.

The document management software has become highly preferred among the professionals. It reduces the effort and also keeps a well track on the important data which can be viewed later on without any hassle. Physicians consider the software as one of the fastest document management solutions in the health care profession. The software also enables the user to view the charts online and offline by storing the charts to a local server making it sure that it can be view both offline and online. The storing of charts alleviates the risk of loss of data. The software also gives you the proviso to find it in a simple and fast way.

The high end software management also enables the user to share and accumulate information easily and at the drop of a hat. The user can also fax, print and email the scanned documents as per necessity (hospitals, physicians, colleagues, pharmacies) just by clicking.

Storing documents is like as easy as pie. Collect one or more charts and scan them with the help of a scanner. After done this, just tell the document management system which patient it belong to and it will automatically store it. The document management software also made it possible to import Adobe PDF and an impressive number of other document types just by clicking.

A financial management plan helps you organize your finances to help your money grow. It also gives you the flexibility to make choices on how and where to invest your money. When you have a plan you will be able to spend your money wisely. Your plan should be able to generally be able to help you with your cash flow. The overall management of your cash flow involves evaluating your net worth after deducting what you owe. This will help you realize if you are making positive or negative financial progress.

Create a budget and stick to it. You will be in a position to promptly pay off your debts and be able to assess your spending habits. It is also advisable to include a control system in your financial management plan. This is put in place to be able to identify and avert errors as you go about your daily duties. This means that it is necessary that you should have specific guidelines when you are operating your business.

Your main priority when you are managing your finances should be to save. Do some research and get advice from a qualified financial expert on where to invest the money you want to save. It is advisable to invest with the intention of getting higher returns. Go for a solid investment and practice discipline. These are the savings that will bail you out should you face any extreme problems. Your financial management plan should also be able to accommodate taxes. This is an unavoidable area that is forgotten by many people. You should have a strategy of how you can get the most out of it.

A retirement plan is an essential part of financial management. This is the very reason you are organizing your finances, so that you are able to enjoy the years ahead. You will have no financial worries in your sunset years. That is what they will be like when you plan your finances strategically, full of sun and fun.

In recent years, with the economic structural adjustment and social progress, housekeeping service has been rapid development, expand employment has played an important role in promoting. In the socio-economic level and family have a greatly improved standard of living after they have a large number of housekeeping service companies have emerged to create the conditions for all aspects of housekeeping service has also been attention.
First, China needs to develop housekeeping service
1. China is facing a severe employment situation
China’s total population, labor force continued to show an upward trend in the total labor resources accounted for more than 60% of the total population, from the labor supply side, will face a labor force in urban areas, diverting laid-off workers re-employment and the transfer of rural surplus labor multiple pressures, labor, “glut” has become the basic state. The growing labor force relative to the supply pressure, the speed of economic development, remain flat, the demand for labor weakened, pulling power for expanding employment difficult to continue to increase. The end of 2004, China’s registered urban unemployed persons was 8.27 million persons, registered unemployment rate was 4.2%. Currently unemployed laid-off workers have 13 million people, every year the number of cities and towns more than 700 million new jobs, college and technical school graduates more than 300 million, in addition, the rural working-age population annual growth rate of more than 1000 million people, is currently a surplus rural labor force. 500 million people. At the same time, the employment situation was very grim, according to the economic growth rate remained at 7% per annum new jobs that only about 10 million annual gap of supply exceeding demand in the 14 million people. At the same time, the transfer of rural labor employment and the employment of landless peasants have become increasingly prominent, two types of conflicts are intertwined, to solve more difficult. China’s employment problem and the complexity, there is the registered unemployment rate and the actual rate of unemployment, informal employment and informal employment, the employment structure of urban and rural areas the coexistence of two kinds of problems. We are now registered unemployment rate, the actual unemployment rate and so the problem of unemployment, are talking about the cities and towns, not including rural areas, a large number of rural laborers out of employment and unemployment problems in addition. In fact, the rapid development of the socialist market economy today, and then in accordance with past approaches to solve China’s employment problem is not work, and must be registered as unemployed with the actual unemployment, rural employment and urban employment, considered together, the formation of new ideas, in order to fundamentally solve China’s employment problem.
2. New employment growth in the tertiary industry
New employment situation, especially the state-owned enterprises are no longer as a main source of employment after the need to find new employment growth points for the laid-off workers develop more new jobs, this is a very arduous task. China’s employment growth was mainly in the tertiary industry, particularly commercial and service industries.
China’s tertiary industry there is much room for development, with a wide range of absorption of the working population’s potential. In 2003 China’s tertiary industry employment share was just 29.3%, is relatively low. The developed countries are currently over 70%, developing countries are around 40%. Such as the United States, employment in the tertiary industry accounted for 73.1%, of which only the social services and personal services sector accounted for 35.5%. India’s employment in the tertiary industry accounted for 58.1%, of which only the social services and personal services sector accounted for 39.7%. Malaysia’s tertiary industry employment accounted for 46.5%, of which only the social services and personal services sector accounted for 19.9%. Brazil’s employment in the tertiary industry accounted for 54.4%, of which only the social services and personal services sector accounted for 35%. Suppose China and India, Brazil, the same, the tertiary industry employment can be doubled, not only can absorb a large number of the employed population, but also from agriculture transfer out of a large number of surplus labor. The tertiary industry in these countries, social services and personal services sector account for a large proportion of more than commercial and industrial services. India and Brazil have accounted for more than 35%, while China is still only around 4%. Can be seen that the development of tertiary industry in addition to commercial and industrial services, the social and personal services sector is the main trends in the development of future employment. In China, domestic service belongs to the tertiary industry, belongs to the tertiary industry in the community services, which is relatively weak link in the employment, there is greater room for development.
3. Population aging and the improvement of living standards need to develop housekeeping service
At present, China has entered the population, aging society, over 60 years old age population accounts for more than 10% of the total population, the number reached more than 1.26 million people. In the future aging of the population will be at a faster pace. Aging of the population of China’s social development posed a serious challenge to our country is facing an increasingly prominent issue of the pension. As people’s living standards improved, the urban residents have a corresponding spending power, the quality of life have a higher demand in 2005 China’s per capita gross domestic product more than 800 U.S. dollars, the Engel coefficient of urban decline to 0.4 below, that is People used to eating less and less growth in spending, while used in the housing, and transportation and services consumption is increasing. So one of the fastest growing consumer is a consumer service, which is improving the quality of people’s lives is an important symbol.
Developed one of China’s housekeeping service, housekeeping service in the share of GDP, less in 2003 per capita GDP in China has exceeded 1,000, marking an important stage in the economic growth, consumption structure to development and enjoyment-based upgrade to the domestic the demand for services will increase, it is estimated currently vacant posts of the total demand of about 40%, and the total demand growing. GDP at current prices in China in 2004 totaled 15.9878 trillion yuan, accounting for more than last year, an increase in the number of 2.3 trillion yuan, increasing 16.8%. Among them, the tertiary industry to 6.5018 trillion yuan, 2.1297 trillion yuan year over year increase in the number accounting, accounting for the proportion of GDP rose from 31.9% to 40.7%, 8.8 percentage points. In the total GDP of 2.3 trillion yuan more in the tertiary industry increased 2.13 trillion yuan, accounting for 93%. However, generally speaking, the development of China’s service industry, and there is no fundamental change in the situation. Outstanding problem is that the overall size of a small, service level is not high, unreasonable structure, system and mechanism innovation lagged behind, with the sustained, coordinated and healthy development of economy and society have yet to meet the requirements. Especially in recent years, services accounted for the proportion of GDP continued to decline in 2006, the proportion of GDP, value added services in 2005 compared with a decrease of 0.5 percentage points in 2007 compared with 2006 has decreased by 0.3 percentage points. 2, old-fashioned thinking deeply housekeeping service, as from the traditional “nanny” develop a new industry, has not yet been generally recognized by the whole society engaged in housekeeping service industry, by “wait upon” and “inferior” and the old concepts of , some people looked down on by society, the family did not receive employment due respect, but also make some workers, especially laid-off workers feel inferior, being unwilling to engage. Many domestic workers lower their quality, some of which had accepted less education, and some for various reasons, did not participate in the training, service quality is not high, or even accidents; through our housekeeping services sector, compared with the Philippines look at China’s domestic prospects for the development of trade in services, China is now in building a moderately prosperous society, with the improvement of people’s living standard, people have increased demand for housekeeping service, housekeeping service in our country has proliferated. Accelerate the development of services, improving the status of the service industry in the national economy; promote the opening up of service and improve the overall level of trade in services is to achieve sustained, rapid and healthy development of the necessary requirement.
Since the reform and opening up housekeeping service, the prosperity of urban economy, urban construction, rapid development, the rise of urban communities, as well as the contents of the growing needs of residents arising from a nascent industry. According to the Ministry of Labor and Social Security Training and Employment Department of Tianjin, Shanghai, Chongqing, Shenyang, Nanjing, Xiamen, Nanchang, Qingdao, Wuhan, and the nine cities, the development of housekeeping service employment expansion problems of the systematic investigation shows that a total of nine major cities 23.96 million were full-time work, part-time workers, hourly workers engaged in domestic service and other forms, which accounted for 56.1% of urban employees, rural surplus labor force accounted for 43.9% to 85.1% of the proportion of women in the number of accounts for the absolute advantage, 30% of the received in pre-service training for housekeeping services. ② domestic service organizations in various forms, there are community organizations in running the enterprise on their own, collective and individual start-up and other forms, which are divided into domestic service agency, and two types of household service companies. Housekeeping services for different service areas, and different target groups differ or have too much weight, but basically covers household cleaning, housekeeping, home care, family education, family recreation and leisure a few areas.
At different levels of development of the city, the development of domestic service is also different. In essence, housekeeping services and urban development are closely linked. An earlier start will be in Shanghai from 1995 domestic service as a re-employment project is an important aspect, planning and regulating the domestic services. Shanghai is also relying on the establishment of domestic labor administration agencies, the establishment of public welfare are still street Service. In addition, Shanghai has emerged in many developing good housekeeping service companies, such as Shanghai Jiali to housekeeping service limited liability company, not only to low-end domestic services, but also actively developing high-end domestic service; not only the consolidation of Chinese domestic services market, but also to open up foreign domestic service market. Generally speaking, housekeeping services in a fast-growing metropolitan market and the higher degree of standardization, the development of faster, higher-grade, public acceptance is relatively high, medium and small cities are less market-oriented and standardized the development of slower service rather narrow, public acceptability is not very high but the market has great potential.
Second, what is housekeeping service?
Housekeeping service is the owner of the family will be part of the family affairs of the trivial, complex, or with a certain technical professionals assigned to work on behalf of the completion of service.
Century housekeeping service is a “win-win” project. On the one hand, it provided for the majority of the family nanny, nursing, cleaning, maintenance, tutoring, logistics and distribution, household management and other services system, and thus master of the family from the trivial and complicated domestic freed to engage in their willingness to do , want to do up. On the other hand, it is to solve the re-employment problem is largely one of the channels. According to the Ministry of Labor and Social Security survey, housekeeping service employment, has great potential, at least for my country, more than 500 million jobs.
In previous years, housekeeping service for the general population is still an unfamiliar term, can only be vaguely nanny agency found budding markets. As China’s market economy continues to develop, mature, industrial structure adjustment problems facing our. Reduce the first and second industry, the proportion of the tertiary industry increased – the proportion of services not only the inevitable result of a market economy (market economy is the service economy to some extent), but also conforms to the rising consumer demand Family Services realities.
Home Economics is the management of family affairs. “Political” refers to the administration and management, which includes three elements: First, planning and decision-making, and second, leadership, command, coordination and control, third, reference, monitoring and evaluation.
(2) Home Economics refers to the family as a small group, with all or part of the members of the family life of the thing, it comes with an “official” and means that, in addition to containing the words “Events” means. In practice, it requires us to focus on the major events and events above, that is, first grasping the whole situation of the important things. Of course, the big and small things are interrelated, and pairs of small things should not be ignored.
(3) Home Economics also refers to the rules of family life, things, or code of conduct. Family life need to have some regulations on the behavior and relationships, some of the provisions written in some form a verbal agreement through consultation, and some to live together in the long run become the unwritten customary rules. These rules are comprehensive, there are individual, such as learning and entertainment, often need to make special provisions.
(4) Home Economics refers to family life, practical knowledge and skills, skills. Family Affairs is very specific, very practical, people’s self-cultivation, knowledge, management must be combined with the daily behavior in order to indicate their intention to achieve their aspirations.
(5) In short, home is a family related to the affairs of individual family members to conduct scientific knowledge, scientific management and the actual operation, the benefit of family life, peace, comfort, to ensure that a harmonious family relationships, intimacy, and family members the full development
Third, The content of housekeeping service
(1) General home: making the family meals, household cleaning, clothes washing, gardening, etc., to artifacts of the service-oriented;
(2) nursing infants: The infant care, custody;
(3) care of the elderly: care, accompany the elderly;
(4) to take care of the patient: in the home or hospital care, caring for patients;
(5) maternal and newborn care: maternal and neonatal care, also known as Yuesao;
(6) Family education: mainly for young children or students of the cultivation of moral character and good habits, intellectual development and academic counseling;
(7) Family financial management: the customer daily expenditure management, including procurement, billing, etc.;
(8) Home Secretary: in family or family business archives processing, computer operations, public relations services, vehicle driving, etc.;
(9) Family security officers: one is responsible for the maintenance and security of the family objects, such as those for water and electricity, electrical appliances, computers, home maintenance services and security, also known as the family technicians; the other is responsible for the safety of his family, also known as Family security guards;
(10) accompanied by: accompanied shopping or chatting, mainly to meet customer ease the emotional and escape loneliness, or accompanied by other ways to meet customer’s psychological needs;
(11) Housekeeping: The client’s family affairs to conduct a comprehensive arrangement, the specific arrangements for other family social worker daily work. Can address the different characteristics of client families, deployment meals, landscaping family environment, science and physical training, arrange for family leisure, tourism, formal etiquette, guests, guide and reasonable work and rest, etc.;
(12) home services, domestic employees (nannies) its full array of services generally, while part-time and piece-rate workers there are single or more of the specific services should be based on customers and employees of domestic companies or domestic contracts as the norm.
(13) units, community service projects, because of logistics services more professional, their projects or more generally individual-based.
Fourth, the development of housekeeping service
The present era is the rapid development of the information age. In all walks of life is inseparable from information processing, which is widely used in computer information management system environment. The greatest benefit is that the computer can use it for information management. The use of computer control of information, not only improve the work efficiency, but also greatly improve their safety. Especially for complex information management, the computer can give full play to its advantages. Computer information management and information management system is closely related to the development of the system’s development is a prerequisite for system administration, the computer is no longer a luxury, it is already essential to human life electronic products, its use is not just for entertainment can also be used to develop based on their information management systems to serve human needs.

THE N420 BILLION NIGERIA BANK STIMULUS: Some Economic and Financial Implications

Written By: Shafii Ndanusa MBA, ACCA, FAAFM

Nigeria and in fact the entire world economy has in the last five weeks witnessed the spectacle of the unfolding drama in the nations’ banking and financial landscape. A major stabilizing decision that was taken in the wake of the Central Bank of Nigeria’s intervention is the injection of some four hundred and twenty (420) billion Naira into the five hitherto unhealthy commercial banks.  This rather humane and socially-responsible action itself has elicited a wide range of reactions from a cross section of the populace. Although, there appears to be some balance of reporting in terms of those who favor and those who oppose the CBN intervention. My personal view is that Nigeria is a developing country. More than ever before, this is the time Nigerians should pay great attention to facts, truth and objectivity. Based on the above criteria, people should then decide where to pitch their tents in matters of critical national importance. The era of primitive sentimentality, blind accusations and ill-informed contemplation clearly belongs to the dustbin of history.

My favored approach to a lot of issues is to ask questions myself. Perhaps this is because of my willingness and openness to new perspectives of thought and action. To this end, the following is considered pertinent.

1. How is the 420 billion Naira stimulus package being made available to banks? Is it solely in cash or a combination of cash and financial instruments?  Note that attention has to be paid to the impact of cash injection to the overall money supply of the Nigerian economy and its attendant effects on interest rates.

2. Is there any possibility of excess liquidity being created as a result of the intervention? How much liquidity injection can the system comfortably cope with without adversely affecting the local and international value of the Nigerian currencies?

3. What effect could the more money in circulation lead to in terms of Retail Prices Inflation? What additional monetary policy measures are required both in the short and long term to stabilize the undesirable economic effects of this injection?

4. Noting that the 420 billion Naira stimulus was not created as a result of any real economic activity, what measures are required to ensure that the money created is given true economic value through its judicious application?

5. How is the N420 billion being administered by the regulator? The administration system must be transparent, accountable and fair to all the parties concerned. The system itself must also be capable of meeting the stiff and thorough tests of public accountability. Every aspect of the administration must be fully, properly, accurately and completely documented for posterity.

6. What are the rules for access to the bailout funds by the famous five banks? Are the rules fair and competitive? Do the rules encourage performance or over-reliance on the regulator?

7. What close monitoring mechanisms have been put in place to ensure that the bailout funds are not abused by the recipient organizations?

8. What is the short, medium and long term plans for the administrative and operational turnaround of these institution?

9. Regulators are expected to maintain arms-length relationships with operators within their industry. Having radically altered the competition dynamics in the industry, what measures are being taken by the Central Bank of Nigeria, the Nigerian Deposit Insurance Corporation and the Nigerian Stock Exchange to ensure that undue favor and privilege is not given to the five banks taken over? Note that this action is necessary to create an environment of fair play and healthy competition.

10. For regulation to be effective, the regulator must be ahead of the operators in all the key areas of regulatory interest. How much regulatory reform is required in terms of internal systems, structures, skills, staffing and strategy to ensure that future problems are not allowed to escalate before remedial action is implemented?

Mr. Shafii Ndanusa is a Certified Chartered Accountant (ACCA) and Fellow of the American Academy of Financial Management (FAAFM). He wrote from Abuja. Nigeria.

With the ever increasing cost of living and the period of easy financing by our banks a lot of people have over extended themselves financially. Basically if your monthly income is lower than your expenditure on a regular base you have a problem. (If it only happens occasionally then you should be OK if you of course saved in the better months).

So you find your self in this difficult situation? Is it the end of the world ? Not really but you must take action to reverse the situation. If you ignore it and hope the situation will improve by it selves then we have news for you. It won’t. Rather take action immediately and speak to your bank manager before he want to see you.

So what actions can one take to reverse the situation.

• Work out a budget
• Cut up your credit cards and store cards (except for one you might need it in an emergency)
• Cut unnecessary expenses (which ties in with your budget)
• Consolidate your debt
• Increase your income

How to work out your budget

1. Add all your monthly income together to see what is available
2. Start adding up all fixed expenses and classify them with 2 classifications. The first classification is the type of expenditure, the second classification is importance or need factor
3. Start adding up all the variable expenses and again classify them in 2 different classifications

Now you will have a clear idea of how much you spend and on what and how much more you spend monthly above your income

Cut up your credit cards and store cards

This should be fairly easy. Take a scissor and start cutting and feel good about your selves.

Why keep one card. Sometimes one has an emergency or a cash flow problem so to have some backup is all ways good.

Cut unnecessary expenses

Now that you know how much you spend monthly and have cut up your credit cards etc. (which should stop you from impulse spending) you can analyse the budget you made.

Now start taking away those expenses which the lowest need factor/importance. (And you still can treat your selves to an evening out, but maybe go to a less expensive place and less often)

Consolidate your debt

Now that your credit cards are gone it is time to start paying them of. But it might be wise to consolidate all debt you have into one account for example your home loan and start paying lower interest rates. credit cards,personal loans etc are notorious for high interest rates. So speak to your bank about how to consolidate. They should be all to happy that you take your financial future in your own hands

Increase your income

This might be the most difficult of them all, because maybe you all ready have 2 incomes or you work double shifts. So this option is depending on one’s personal situation

If one follows up on even some of the suggestions in this article you might be well on your way to turning around your finances without winning the lotto

A tea garden manager is a person wholly and solely responsible for running the tea estate.
His area of activity encompasses production management, tea husbandry involving plant physiology, entomology, industrial relations, labour management, liaison with various government departments. He even has to oversee purchase of materials, do financial management, cost management, collective bargaining with unions, factory manage- ment, etc.

Tea Estate Manager should have a love for the outdoors, love for human beings, love for nature, (be) comfortable staying alone, hard work- ing with good team spirit and a penchant for lead- ing the good life frequenting clubs, playing sports, etc.

Most of the tea gardens are in a secluded place and for people who are not outdoor types it can be a problem. One is mostly busy clubbing (most of the tea gardens have clubs), horse riding, trekking, etc. We always look for sports oriented youngsters, people who are fond of sports. One can get into a tea estate after graduation and pick up skills while working in a tea garden and tea estates in india. However, these days, a degree in agricultural science or a BSc in botany, food sciences, horticulture or allied fields is preferred.

What are the growth prospects of Tea Estate Management?

You can start as trainee assistant manager in tea estate management, and after 1-12 years you can become an assistant manager, after 12-16 years a deputy manager, and then manager. After having put in around 10 years as manager you will become a senior manager. Then with experience you can become a visiting agent/ executive director. Weather, natural calamities, and the day when people stop drinking tea.

Financial management structure refers to financial measures, policies, methods, and procedures that guide the strategy and operations of a firm. It includes setting up of financial goals, developing long term strategic plans and short term profit plans, making capital investment and disinvestment decisions, measuring operating performance, determining incentive compensation, and communicating with investors. Companies often do not do these things in a unified, systematic, and unified manner. Corporate financial goals are defined in terms of earnings per share and return on net worth; individuals lines of business are evaluated in terms of return on assets; capital investment is analyzed in terms of discounted cash flow; acquisitions are judged on the basis of contribution to earnings growth; department are evaluated with reference to budgeted cost or profit figures; incentive reward schemes are based on capriciously determined targets; and investor communication is for the most part in terms of earnings per share and divided policy.

The EVA is based on the argument that provides a single, unified, and accurate measure of performance. It thinks well forward looking valuation and capital budgeting analysis with actual performance measurement. For these reasons and more EVA may be used for goal setting and business planning, performance evaluation, bonus determination, investor communication, capital budgeting ands valuation.

EVA is an admirable bed rock on which an integrated financial management system can be constructed as it has the following features or distinctiveness:

1. It is a recital measure that ties directly, theoretically as well as empirically, to shareholders wealth creation.
2. It converts accounting in sequence into economic reality that is readily grasped by non-financial managers. It is a simple yet effective way of teaching business literacy to everyone.
3. It serves as a guide to every decision from strategic planning to capital budgeting acquisitions to operating decisions.
4. As the basis for creative compensation, it truly aligns the attention of managers with that of shareholders and makes management think and act like owners.
5. It is an effective tool for investor communication.
6. It serves as an anchor for an internal system of corporate governance that motivates everyone to work co-operatively and enthusiastically to achieve the best attainable performance.

EVA and incentive compensation:

The purpose of an incentive compensation plan (bonus plan) is to motivate employees to work harder and smarter so that the organizational performance is maximized. Unfortunately, the incentive compensation plans used by most companies fail to accomplish these objectives. These plans induce managers to be more conservative than the shareholders; they diminish incentive and motivation by paying too little for outstanding performance or too much for inferior performance they encourage managers to negotiate easily achievable targets, by gaming the system finally they give managers an additional incentive to lower performance when there are signs that the actual recital may turn out to be significantly higher than the un-ambitious targets. The centerpiece of the EVA is a inimitable bonus plan that overcomes these limitations and aligns the interest of managers with shareholders. The Key elements of the EVA bonus plan are:

1. Bonus is linked to increase in EVA
2. There is no floor or ceiling on the bonus
3. The target bonus is generous
4. A bonus bank is established

Finally, from the aforesaid discussions, it is felt that, Financial decisions result in the commitment and recommitments of funds in business operations enabling the management to discharge efficiently numerous functions related to production, marketing and personnel areas which in turn affect the extent of risk, profitability, , size and growth of the firm and ultimately the value-added  or net worth of the firm.

Small Business Finance Basics – Financial Ideas and Tips for Your Home Business

I’m not an Economics Major! What do I need to know about Small Business Finance?Visit here http://allfinancialtips-help.blogspot.com

No, you don’t need to be an economics major, but you do need to understand the basics of small business finance and good financial management. And if you are an economics major, Great! You have a big head start.

Do you need a bunch of spreadsheets? Not today, but as you plan your business and it begins to grow, you’ll know how to use these! When you’re starting out, there are five basics areas where you need to learn as much as you can:

Bookkeeping:

In very simple terms you need to keep track of the money that comes in and the money that goes out. It may sound a simple, and it might be in the beginning, but you’re not starting this business to run for a month. Hopefully you’re starting this business to last for a long time.

It’s a very good idea to put a smart small business finance accounting system into place from the beginning, and get it set up to grow with your business. You will find a resource page below with some very good basic accounting systems that are affordable and easy to use for small business finance.

Credit and Collections:

You need to make sure you get paid for your product or service. How this happens can vary greatly based on the type of business you run. If you’re just starting out, you will probably not offer your customers credit terms, more likely it will be cash on delivery.

For this you need a payment tool that your customers trust (always look at your customer’s point of view first) and one that will allow you immediate access to your cash. There are many online payment tools and gateways, like PayPal.

One important note, it is an extremely smart idea to use a payment tool or gateway that also offers you the ability to download transaction details into your accounting package. This saves you loads of time manually entering information into your small business finance software package, and has many additional upside advantages.

Cash Flow:

This is where most people have problems with small business finance, and the largest reason for business failures. Let me explain it this way.

Can a profitable business fail? … YES, and many do! Always Remember – Cash is KING!

You must have enough cash coming in to pay your expenses. In the beginning this will be from your own pocket or from your small business finance loan or credit facilities. But eventually, and in most cases sooner rather than later, the start-up funding will run out. You need to be focusing on cash flow from Day ZERO, and eventually when the business is running on its own income you can focus more and more on profitability.

Purchasing:

You will need to buy things for your business. In the beginning it’s important to focus on how you pay for these items. If you’re using your credit card, no problem, but watch the finance charges. Try and keep the outstanding balance on your card down to a minimum.

If your making most of your purchases online, then find a good payment tool or gateway that you can use to pay for purchases while at the same time collecting money from your customers.

Financial Analysis:

Don’t worry, this is not a huge issue in the beginning, because if you’re like most new businesses there will be very little to analyze.

But keep in mind; this will become more and more important as your business begins to grow and you have less and less time to dedicate to finance. You will need to again select an accounting package that can grow and expand with your business giving you easy reports to understand.

In the beginning you really just need the ability to watch your finances and do short range forecasts of your cash flow. Most accounting packages have this as a basic part of the package, if not; keep looking for a system that offers this from the beginning.

Get the Small Business Finance Basics right, and the rest will follow with much greater ease. Ignore the basics, or do them wrong, and you’re asking for problems later on that will distract you from your main function as a business owner which is finding and keeping customers!Visit here http://allfinancialtips-help.blogspot.com