theman400 asked:


I’ve always thought that the meaning of a busniess administration degree is so that an individual can start his/her own business. Is that true? What types of jobs are out there for people who just want to work in a business field?

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Sherry Ridge asked:




In my 15 years of helping families with their personal finances, it seems that as our economy and workforce continue to change the struggles of many families go beyond basic budgeting and debt elimination consulting.

Those of us debt free and/or on the path may never experience the challenges that a newly widowed mother, or divorced father goes through just trying to keep food on the table.

I participate in several non-profit groups that strive to help under served community members, and each time I leave one of these families, I hear the words, “There by the grace of God go I.” I acknowledge the gifts I have and the benefits that have come my way from being debt free and living within my means. Many families want this opportunity as well, but they feel that they are so far gone that they don’t believe it is available to them or they struggle just to get gas in their car to go to work and long term thinking is not a luxury that they have right now.

For those of you who have friends or family that are barely making it each month, the following are services/ideas that they can look into when times seem too tough to bare.

Utilize tech schools for minor car repairs, personal care (such as hair cuts and manicures), dental check up’s and much more. Call your local community college to see what programs/service they have available to the public.

Contact your local Rotary, Kiwanis’s or Exchange Clubs to see if they have a Children’s Winter Coat program. Many of these service organizations donate new coats and gloves to children.

Get your children’s lunch and some school fees reduced to pennies on the dollar, if any at all. Many families qualify for free lunch and when doing this they also qualify to have school registrations fees as well as sporting and club fees waived or reduced.

Ask your PTA’s/PTO’s and/or Athletic Booster Clubs if they have programs that help children with sporting equipment/school supplies.

Check with the YMCA or YWCA about programs they have to help families with child care costs.

Investigate the health insurance opportunities in your state. For example all children living in Illinois have health insurance benefits available to them, even those in families making $60,000 a year.

Reach out to your church services department, many churches not only run pantries, but they also have programs to help families struggling to pay a utility bill.

Visit your local food pantry, you can call your town hall, church or even police station to see where one is close to you.

See a case manager at any social service organization to see what programs you and your children may qualify for. I know of an organization that offers homework help to children for free. Remember that these programs are mostly non-profit, which means that most of them are operating by using our (yours and mine) tax dollars. To see a case manager should cost you nothing.

Look into health departments, health fairs from hospitals, Senior Centers, etc. for free immunizations and check-ups for families.

It’s important for me that I personally give back more than I take. We all need a helping hand at some point in our lives, it may be help to pay a medical bill, get school supplies for our kids, a ticket back home to attend a parent’s funeral or simply a compassionate ear and heart to lean on.

We all need to give a helping hand as well, when we are in a better position ourselves; we can offer more than we took at the time we needed it.

Don’t sit and suffer alone, reach out to your community members, your friends, your family and your neighbors. There are places to turn; doing a little research and using the resources around you can make a difference.



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Mercy Maranga asked:




When many people think of finances they automatically think about money. While this is true there are various aspects of finance that many people are unaware of or even have little understanding. It is generally about the way that you manage your money, assets and make investment decisions. The manner in which you handle your money can make the difference between you being financially stable or unstable. If you learn how to discipline yourself and come up with a realistic budget you can manage to survive through financial difficulties.

However, it is easier said than done to execute what few are able to accomplish. It is important that you master your finances no matter how little your income is. You have to gather and research as much as possible so that you are in a position to increase your income while reducing your expenses. There are many sources of information to guide you on what can help you improve your financial situation.

When you are in a position to manage your debt, income and expenses, then you are in a comfortable place. When you want to come up with a proper budget, you have to add up your total income and then your total expenses. This should be a start to track each monthly expense. Look into your credit cards, your loans and find ways to improve your finances. This will help you have a clear picture of what you can cut back on and where you can source some extra income.  

Many hardworking people make mistakes because they do not have a clear understanding of how they are spending their money on a monthly basis. When you are dealing with your finances, you have to have a long term target so that you can have security when you are retired.



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William Acosta asked:




A no doc business loan is a great way to secure a loan for your start up business. Like the name suggests this particular type of loan does require the expansive forms or complicated paperwork of other business loans. It is therefore much simpler to attain.

Unlike other loans that require proof of income, current employment, or a statement of current assets, all that the bank or lending institution requires for no documentation lending is a credit report and ownership of a fairly valuable property for collateral. This is typically the right course of action for those individuals who have an income that is hard to prove, have good to excellent credit, and do not want to waste valuable time with complicated forms and procedures. This arrangement can be used to purchase single family homes, townhouses, manufactured homes, and some condominiums. However, some lending institutions offer this method to business investors. This is a hassle free method for those who can afford it.

Typical applicants for a no doc business loan are individuals who have a hard time proving their income. While this sounds like a unique problem, it is actually a real problem for many people. Those of us who work and generate an income from home or have an unpredictable profit base may not be able to predict future earnings or show documents proving past earnings. Large or small scale investors are particularly prone to this problem. With so much capitol moving in and out of accounts and properties changing hands, it can be difficult to assess or even list the value of current assets. For this reason many investors choose to pay a little more for a loan in order to limit the time consuming process of securing the financial endowment.

Typical real estate purchases include low rise condominiums, single family homes, pre-manufactured homes and trailers, and apartments. Most financial institutions are fairly strict about the types of properties they issue no doc business loans to. However, some programs allow the purchase of high rise condominiums, 4-6 unit buildings, second homes, and other investment properties. These opportunities are what business investors look for because they take advantage of the easy loan process usually reserved for first time home buyers. Again this process only requires a strong credit approval and a semi valuable asset for collateral – two stipulations that most investors have no problem procuring.

While this financial process is quick and efficient and does not require the typical hassle that other processes require, it does cost more to procure. If your situation allows you to do so, then verifying your employment or declaring a comprehensive list of assets will lower your lending costs. However, most investors who attempt to procure this type of loan are not going to retain ownership of the said property for a long time. Therefore, the specific lending costs, interest rates, and mortgage penalties are of little importance.

A no doc business loan is easy to procure. However, the cost associated with such a financial situation is more than a more thorough loan application. Despite this fact, a loan of this type can be an easy way for investors to quickly guarantee capital for investment projects.



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Mike Ashley asked:




Operating expenses are those costs every business has that are not considered directly related to a company’s first line of business. Operating costs include sales and marketing, research and development (R&D), administrative costs and other costs which does not involve directly in the business

Investors want to make sure management is doing the best job it can to keep these costs in control as well as maintaining their bottom line. Operating expenses are available on the financial statements that every publicly traded company files with the SEC.

Management also must do a good job turning a profit with its own operations. That means the costs associated with cost of goods sold (COGS), etc. must generate more than those costs. If not, well, the company must be in the wrong line of business. Companies should never be operating at a loss. If a company is operating at a loss exactly why needs to be interpreted by the prospective investor

Operating margins represent the direct relationship between sales revenue and operating income. The operating margin of a firm is the operating income divided by net sales. It shows how much gross profit a company generates before taxes.

Well-managed companies should increase these margins from year to year. The higher these margins are the more profits are available to return to shareholders investing in the company. Operating margins can be a useful tool when comparing two prospective stocks that compete within the same market.

Higher operating margins represent a company in a better position to generate income. For example, a company with a lower operating margin than a competitor in its market will have less flexibility in determining prices. It’s competitor with higher profit margins will know this about it’s competitor and can “go for the jugular” by slashing prices and stealing market share.



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Richard Taylor Edwards asked:




One of the most important functions in any company is that of the finance manager. For those who are uninformed, they tend to think the sole function of this position is that of the head of Accounts Payable and Accounts Receivable, but it goes far beyond that capacity. In fact, the finance manager is in charge of any financing and accounting function throughout the company.

The role of this position involves that of not only financing functions such as Accounts Payable, Accounts Receivable, and Billing, but it also involves that of budget projections and working with the Chief Financial Officer to make sure that the company’s funds are stable and assisting with any budget cuts that become necessary.

The finance manager is the head of both the Accounts Payable and Accounts Receivable areas of the company. As such, he will be the one to set policy and direct procedures for both areas of business. That includes hiring staff based upon need, following budget guidelines for expenses including staffing, assuring that procedures are followed by all staff members, setting reasonable quota system to assure work is completed in a timely fashion, and interacting with department supervisors on a regular basis in order to stay abreast of happenings within the department.

The finance manager will also compile reports that show all of the conditions within his department including expenditures, open invoices, production standards, quality control standards, and timeliness of both payment of invoices and processing of payments. The finance manager is also responsible for the billing operation of the Accounts Receivable Department and making sure that guidelines for timely billing are followed as well.

The finance manager also is the one who will work with other executives in order to develop the budget for each year. He will work with the Chief Finance Officer and Chief Executive Officer in order to develop an equitable solution for each year’s expenditures in both staff, office supplies, and any other needs that they company has including training, business trips, out of town meetings, and staff entertainment expenses. The finance manager has a very important position within a company, and his decisions will determine the financial stability of the company, at least within the areas that fall under his control. It is also his job to make certain that other departments and areas of the company follow their budgets and make the most use of the company’s money by avoiding frivolous expenses.



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deb_18rahul asked:


I want to start a internet business or home business to earn more money. Please suggest a honest company. If you have any other suggestion for business.

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Michael Zielinski asked:




Debt factoring takes place when a business sells its accounts receivable to a specialized finance company known as a factor. The receivables are sold at a discount and the factor has the responsibility of collecting the outstanding amounts. This is also referred to as accounts receivable financing or factoring.

This type of arrangement is used by many businesses to improve cash flow and shorten the cash cycle. The business receives immediate cash from the factor and does not have to handle the collections process. Before entering into a debt factoring agreement, there are several key advantages and disadvantages to consider.

The primary benefit of debt factoring is that it provides a quick method of financing. Instead of waiting to receive cash from customer accounts receivables, the factor pays the business immediately. This can be important if the business needs cash to pursue future growth or expansion. It can also be a viable alternative for business wary of taking on debt or issuing equity to raise capital.

Another key benefit is that cash flow is improved and the cash cycle is shortened. The amount of time it takes a business to turn cash to goods to cash is accelerated. This fast turnaround may allow the business to take on additional customers or purchase additional inventory.

Protection from bad debts is a potential benefit. This would only apply if the business has entered into a non-recourse factoring agreement. Under this type of agreement, the factor assumes the risk of bad debts. In other words, if a customer account cannot be collected, the factor must absorb the loss.

Cost effective collections is another potential benefit. The business does sell the accounts receivable at a discount, but it also hands off the entire process of accounts receivable collections. The business has effectively outsourced the process which can save valuable time or reduce the number of employees needed for back office work.

On the other side of the equation, debt factoring does carry a number of distinct disadvantages. The primary disadvantage is the cost. Under a factoring agreement, the factor purchases accounts receivable at a discount. Depending on the discount percentage, a factoring agreement may imply a higher cost of capital. This cost must be compared to the cost of other methods of financing which are available to the business.

A second disadvantage is that when a business works with a factor, they are introducing an outside influence into their business. Since the factor will be responsible for collecting accounts receivable and may be responsible for amounts which cannot be collected, they may try to influence sales practices. This can include attempts to influence sales policies and timing, as well as the customers that a business with deal with.

Bad debt liabilities are a potential disadvantage. This would be applicable if the business has entered into a resource factoring agreement. Under this type of arrangement, the business is responsible for any amounts that cannot be collected from customers. The discount rate at which the factor purchases the accounts is usually lower, but this must be considered in light of potential charges for uncollectible accounts.

Customer relations are a final potential disadvantage. Since a third party will now deal directly with customers to collect amounts owed, this can negatively impact their perception of the business. This is especially true if the factor engages in aggressive or unprofessional practices when collecting accounts.

Debt factoring represents a complex business agreement. It usually requires a long term contract and the modification of some current sales practices. When evaluating whether debt factoring is a good choice for a business, both advantages and disadvantages must be weighed to make an informed descision.



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