How To Monetise Your Blog

Standard

Blogger strategies for monetization precisely explained by the author…

Suzie Speaks

How to use a blog to make money

A little while ago I gave a presentation at the Annual Bloggers Bash in London with the focus being on monetising a blog and using a blog to make money in other creative and writing fields. Since then, I’ve received numerous requests to post the content of my presentation for those who were unable to attend, so here it is (hopefully with a little less waffle)…

Having a blog has been a life-changing experience. It has allowed me a lifestyle that I could have only previously dreamed of and enabled me to take more control of when and where I work and who I work for. Four-and-a-half years ago I was working as a teacher, I had an outstanding reputation and good results and was in a financially stable and secure role… And I was miserable – stressed, tired, depressed and had started to develop panic attacks. Writing has always…

View original post 1,279 more words

How to Research and Find Your Niche Online

Standard

Deciding on what product or service you will promote in a niche market should be based on a simple principle. There should be a demand for your product or service.

You want to offer something that people actually need, something that will make their lives better, make them feel better physically, make them look better, or help them solve a problem.

 

Once you have chosen a product or service to market, researching to find the right niche for your product or service is the next most important part of beginning a niche marketing program.

The things that you need to know are where they spend their time online, and what makes them tick from a personal and business point of view. There is niche marketing software out there that can help you learn these things about your potential niche market.

How to Research and Find Your Niche Online

 

The next thing you need to learn as you research your online niche market is what you can reasonable charge for your product or service.

The best and most effective was to do this is to visit sites that advertise products or services similar to what you have chosen to sell. It should be easy to see if they are giving away a service or selling the product at a price far lower than you would have to charge.

Amazon Kindle Publishing Masterclass – Self-publish an eBook

If you can determine that there are people out there who are willing to spend money to buy what you are selling and you can identify those people then you have a niche marketing product or service that can make money on the Internet.

Sometimes it takes reframing your product or service to make it more attractive, better or just different than what others are selling it for. Research is the key to successful niche marketing.

Types of Accounting Information

Standard

Types of accounting information may be classified into four categories:

  1. Operating information
  2. Financial accounting information
  3. Management accounting information and
  4. Cost accounting information

1. Operating Information:

This is the kind of  information which is required to conduct the day-to-day activities.

Examples of operating information are:

  • Amount of wages paid and payable to employees
  • Information about the stock of finished goods available for sale and
  • Each one’s cost and selling price
  • Information about amounts owed to and owing by the business enterprise
  • Information about stock of raw materials, spare parts and accessories and so on.

By far, the largest quantity of accounting information provides the raw data (input) for financial accounting, management accounting and cost accounting. 

 

Spend Wisely

financial lessons from Warren Buffet

 

The Ultimate Startup Guide for Entrepreneurs

 

2. Financial Accounting:

Financial accounting information is meant both for owners and managers and also for the use of individuals and agencies external to the business.

This accounting is concerned with the recording of transactions for a business enterprise and the periodic preparation of various reports from such records.

The records may be for general purpose or for a special purpose.

 

Focus on the Long Term

Financial Lessons from Warren Buffet

 

 3. Management Accounting:

Management accounting makes use of  both historical and estimated data in assisting management in daily operations and in planning for future operations.

It deals with specific problems that is faced by enterprise managers at various organizational levels.

The management accountant is often concerned with finding alternative courses of action and then helping to select the best one.

For e.g. The accountant may help the finance manager in preparing plans for future financing or may help the sales manager in deciding the selling price to be fixed on a new product by providing suitable data.

 

acounting for dummies

 

Generally management accounting information is used in three important management functions:

  1. Control
  2. Co-ordination and
  3. Planning

4. Marginal costing is an important technique of management accounting which provides multi dimensional information that helps in  decision making.

 

Specialised Accounting Fields

A number of specialized fields in accounting also have evolved besides financial accounting. Management accounting and cost accounting are the result of rapid technological advances and enhanced economic growth. The most important among them are explained below:

 

1. Tax Accounting:

Tax accounting is all about the filing of tax returns and the consideration of the tax implications of proposed business transactions or alternative courses of action.

Accountants specializing in this branch of accounting are familiar with the tax laws affecting their employer or clients and are up to date on administrative regulations and court decisions on tax cases.

 

types of accounting information

 

2. International Accounting:

This accounting is concerned with the special issues associated with the international trade of multinational business organizations or MNC’s.

Accountants specializing in this area must be familiar with the influences that custom, law and taxation of various countries bring to bear on international operations and accounting principles.

 

3.Social Responsibility Accounting:

This branch is the newest field of accounting and is the most difficult to describe. Social responsibility accounting is so called because it not only measures the economic effects of business decisions but also their social effects, which have previously been considered to be immeasurable.

Social accounting is also known as social accounting and auditing, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting.

 

Benefits of Social Accounting

Benefits of Social Accounting

 

4. Inflation Accounting:

Inflation accounting is a term describing a range of accounting models designed to correct problems arising from historical cost accounting in the presence of highinflation and hyperinflation. Inflation accounting is used in countries experiencing high inflation or hyperinflation.

 

5. Human Resources Accounting:

Human resource accounting is the process of identifying and reporting investments made in the human resources of an organization that are presently unaccounted for in the conventional accounting practices. It is an extension of standard accounting principles.

This system of accounting is concerned with, “the process of identifying and measuring data about human resources and communicating this information to interested parties”.

 

6. Cost Accounting:

The industrial revolution in England posed a challenge to the development of accounting as a tool of industrial management. This necessitated the development of costing techniques as guides to management action.

Cost accounting emphasizes the determination and the control of costs. It is concerned primarily with the cost of manufacturing processes.

In addition, one of the principal functions of cost accounting is to assemble and interpret cost data, both actual and prospective, for the use of management in controlling current operations and in planning for the future.

https://gumroad.com/js/gumroad-embed.js

What is Accounting Cycle

Standard

accounting cycle

What is Accounting Cycle

Financial statements have to be produced accurately at the end of the accounting period for tax purposes. An accounting period may be a month, a quarter of a year, or a whole year.

The accounting cycle is the series of steps that take place in order to produce  financial statements.

A term that describes the steps when processing transactions (analyzing, journalizing, posting, preparing trial balances, adjusting, preparing financial statements) in a manual accounting system. Today many of the steps occur simultaneously when using accounting software.

[box]https://gumroad.com/js/gumroad-embed.js

[/box]

Following are the steps that complete an accounting cycle:

  1. Identify the transaction. This transaction could be the revenue from the sale of a product or a payment to another business for services.
  2. Analyze the transaction and how it is related to the accounting balance sheet. For example, determine which accounts are affected by the transaction and how they are affected.
  3. Record the transaction to a journal such as a sales journal.  Journals are kept in chronological order and may be updated continuously, daily, or however often it is necessary.
  4. Record the transaction to the general ledger. Take all of your entries and categorize them by the account.
  5. Perform a trial balance. Debits and credits need to be equal at the end of an accounting cycle, so calculate the entries to ensure they match.
  6. Prepare adjustments. Just because entries are recognized, does not mean the work has been performed. Revenue can only be recognized when the work has been completed, so adjust the entries accordingly.
  7. Perform trial balance with adjustments. Take the adjustments from Step 6 and prepare a trial balance. If the debits and credits do not match, then you need to adjust them to make sure they do match.
  8. Prepare financial statements. From the adjusted trial balance, these corrected balances are used to prepare the financial statements.
  9. Close the accounts in preparation of the next accounting cycle. Revenues and expenses need to be closed out, which means they need to have zero balances. Balances are moved to the next cycle.

Watch This Video for a Clear Understanding of Accounting Cycle: Use CC (closed captions) Button for Subtitles.

Some Important Accounting Terms:

Account

A record in the general ledger that is used to collect and store similar information. For example, a company will have a Cash account in which every transaction involving cash is recorded. A company selling merchandise on credit will record these sales in a Sales account and in an Accounts Receivable account.

 

Accounting Department

Part of a company’s administration that is responsible for preparing the financial statements, maintaining the general ledger, paying bills, billing customers, payroll, cost accounting, financial analysis, and more. The head of the accounting department often has the title of controller.

 

Accounting Equation

Assets = Liabilities + Owner’s Equity. For a corporation the equation is Assets = Liabilities + Stockholders’ Equity. For a nonprofit organization the accounting equation is Assets = Liabilities + Net Assets. Because of double-entry accounting this equation should be in balance at all times. The accounting equation is expressed in the financial statement known as the balance sheet.

Accounts Payable

This current liability account will show the amount a company owes for items or services purchased on credit and for which there was not a promissory note. This account is often referred to as trade payables (as opposed to notes payable, interest payable, etc.)

 

Accounts Receivable

A current asset resulting from selling goods or services on credit (on account). Invoice terms such as (a) net 30 days or (b) 2/10, n/30 signify that a sale was made on account and was not a cash sale.

 

Adjusting Entries

Journal entries usually dated the last day of the accounting period to bring the balance sheet and income statement up to date on an accrual basis (as required by the matching principle and the revenue recognition principle).

Adjusting entries are made to report (1) revenues that have been earned but not yet entered into the accounting records, (2) expenses that have been incurred but have not yet been entered into the accounting records, (3) revenues already recorded that involve more than the current accounting period, or (4) expenses already recorded that involve more than the current accounting period.

Activity-Based Costing 

A technique for allocating costs to a product, service, customer, etc. The premise is that activities cause an organization to incur costs. Once the costs of the activities have been identified and each activity’s cost has been determined, the cost of the activities is then allocated to the product, service, customer, etc. that required the activity. This technique is more logical for allocating overhead than simply allocating costs based on machine hours or direct labor hours.

Quick Ratio

Also known as the acid test ratio. This ratio compares the amount of cash + marketable securities + accounts receivable to the amount of current liabilities.

 

Adjusted Trial Balance

A listing of the general ledger accounts and their account balances at a point in time after the adjusting entries have been posted. The grand total of the accounts with debit balances should equal the grand total of the accounts with credit balances.

The Beginner’s Guide to Online Marketing

Standard

“Your product should be like honey to bees – inevitable”

Marketers are generally far too concerned with the changes in our channels and tactics, and have failed to see the paradigm shift in consumer behavior. We have taken the consumer funnel for granted for a long time, but things have changed. The way consumers discover, compare, decide, and evaluate has fundamentally shifted…significantly.

Today’s consumers are driven by research. By the time they’re ready to reach out to your company, they’re already far along in their shopping journeys. To succeed, businesses need to empower their audiences with information. Stop trying to sell, and focus on helping your customers learn.

online marketing channels

Shoppers look for information online, in stores or from other sources. They will make purchases online or in brick-and-mortar stores. They will often start in one venue and finish in another. They might start the process using a PC at home and finish it on a tablet or smartphone in the store. Throughout their journey they expect a seamless experience between online and offline sites.

300X250_04

“Data may err but not people and their opinions”

Online marketers are obsessed with traffic acquisition numbers and conversion rates. It’s easy to forget that your consumers are real people on the other side of the computer screen. In addition to chasing numbers, marketers need to understand and speak to people.

Continue reading

Need a Business Idea? BI #1

Standard

Best New – Accountant

Create a flier outlining your services. Before you do that, you need to know what those services will be. Do you want to simply do bookkeeping for a small business? A more involved level of would be do actually work up balance sheets, income statements, and other financial reports on a monthly, quarterly, and/or annual basis, depending on the needs of the business. Other specializations can include tax accounting, a huge area of potential work. Many business owners don’t mind keeping their own day-to-day bookkeeping records but would rather get professional help with their taxes.

rp_20150427155611-copy-machine-copier-business-tools-office.jpeg

Most small businesses don’t have a full-time accountant, so the task of record keeping often falls to the business owner. A highly organized, trustworthy, part-time bookkeeper can really alleviate the stress of sorting through receipts and tax returns. You’ll most likely only need to put in one or two days a month for each client, depending on how many sales and expenses they have. Knowledge of QuickBooks is a plus, but not necessarily a requirement for, this side business. And if you don’t already have a relevant degree, you can take bookkeeping classes at a local community college. You can also become a certified bookkeeper through organizations like the National Association of Certified Professional Bookkeepers.

It’s the year of the entrepreneur. Thanks, in part, to social media, crowdfunding and alternative lending options, and the constant evolution of technology, it’s a great time to start a business.

Attractive for Accountants

Some of the most important business ideas for accountants are given as under.

Bookkeeping:

Bookkeeping is a lucrative business alternative for accountants. Both and small business firms require to maintain updated bookkeeping. With the availability of various software and computers equipped with the latest technology, bookkeeping has become easier than before. Accountants can engage themselves educational bookkeeping, this kind of business venture require both experience and education which the accountants usually have.

Payroll Service:

Payroll service which is a subsidiary of bookkeeping service is a very good business idea for accountants. are necessary for most of the companies, and accountants can engage themselves into this kind of service which will help them earn good profits.

:

Tax preparation service can prove to be a very fruitful business idea for the accountants, for this kind of business grows very easily and appeals to numerous clients. Accountants taking tax preparation service as a business plan means that both individuals and firms will act as clients.

Digital Marketing Strategy – Building a killer strategy.

Standard

A simple bite sized guide to building a Digital Marketing and Social Media strategy for any business.

Social media marketing has become inevitable for businesses for promotion and sustenance. Udemy has come out with a great course on “DIGITAL MARKETING” strategies which will help you leverage the reach of social media in enhancing the reputation and establishing your brand strongly in the minds of the consumers.

Digital Marketing has almost become synonymous with social media marketing and one who overlooks this opportunity to reach-out to customers are completely lost in this net-savvy world.

Go for this course offered by  Joe Wilde for a reasonable $25.