An Accountant’s Way of Doing Rental Price Comparisons

How do accountants perform price comparisons? Do they use specific methods? Are there special tricks and techniques involved? For many, price comparisons is simply the act of knowing prices and mentally comparing the numbers to determine which one is cheaper. Others may do something slightly more advanced by taking into account a number of factors before making a decision, to find out which option offers the best value.

Accountants are generally more involved in doing calculations, reconciliations, record keeping, and financial statement presentation. They rarely do price comparisons or have any active involvement in making decisions on purchases, equipment acquisitions, or rentals. However, it may be worth discussing how an accountant’s perspective can be helpful for those involved in deciding on purchases or rental agreements.

For accountants, expectedly, things need to be more detailed. It’s important to have more numbers presented according to their relevance in the comparison. For instance, when renting heavy equipment or machinery, lists of features, item attributes, and the rental terms need to be prepared. For a more specific example, consider the case of renting a forklift. There are many things that need to be taken into consideration. Going over forklift rental prices on sites such as is just one part of doing the comparison.

When deciding on which forklifts to rent, an accountant would likely rely on numbers first before going into unquantifiable factors. This means sorting options according to which ones fit the budget. Accountants have enough experience to know that rental forklifts don’t usually have vast differences in quality since they have been used several times in the past. There should hardly be an issue on reliability. Besides, if the rented unit has defects, it’s not that difficult to have it replaced or to get a refund.

The price figures are the key but the following should also be taken into account:

Load Size and Lift Height - This is a basic. Obviously, the forklift to be chosen should be capable of doing what it needs to do. It has to have a tall enough lift for the intended purpose. Likewise, it should be able to carry more load for efficiency.

Terrain Suitability - Will the forklift be used in a paved setting or does it have to go through challenging terrains? This is a very important factor. A forklift that is not suitable for the environment it will be used in can never be a good choice.

Fuel Efficiency - This isn’t easy to determine so this may be used only when deciding between two good options that are very similar. Better fuel efficiency translates to lower costs in operating the rented equipment.

Driver Preference - In cases when the driver has already been designated, it can be great to let the drive decide on which forklift is the best one to get. After all, it’s the driver who knows which units are easier to use and are better in terms of efficiency. Doing this isn’t really based on an accountant’s experience or professional  insight but more on common sense and pragmatism.

Of course it’s not necessary to become an accountant to be able to do comparisons the way accountants would likely do. It’s not necessary to be familiar with accounting standards or generally accepted accounting principles to know how to meticulously do rental price comparisons. Knowing and understanding the points mentioned above should suffice.

Budget For Your Phone Contract

Hello again.

I was racking my brains trying to think of a topic to post here and then I had a client in the other week who was suffering from financial problems. I obviously can’t go too far into detail in regards to the specifics of the case however it all came down to this Apple iPhone contract.

OK, maybe that is a slight exaggeration however one of the main reasons that he was hemorrhaging money every month was due to this iPhone contract that he had taken out a few months earlier.

Far from me to begrudge someone having an iPhone – I used one myself, in fact I successfully found a service to jailbreak iPhone 4 and now my device is even better – however I tell clients this over and over again, if you can’t afford it, don’t get it! It is such a simple concept however unfortunately it is not one that is really enforced by many people.

Take my client for instance. He had a reasonable job, it might not have paid millions but for a single guy it was OK. However he had no concept of budgeting. He paid car insurance every month, he paid bills every month such as utilities and subscriptions, he paid rent every month and he had to buy food every month. So for an accountant like myself I put these into the basics category.

On top of this he has cable packages and recently he took out a contract on an iPhone 4. No big deal, right? Sure, loads of people have an iPhone contract. This is true however what is also true is that he didn’t budget for this. Before he took the contract out he had a bit of spare money left however after it he was finding himself with less and less partly due to the contract and partly due to buying apps etc…

A lot of accountants would tell him to give the phone up however I like to think that I have a different approach. People need to enjoy their life whether or not they have a million dollars in the bank or $100. I told him to use the same jailbreak service as I used because with that I also got my iPhone unlocked. This means that I can connect to any network I please and get a better deal in the long run in terms of using a pay as you go rolling contract system.

He still has to pay his contract for the next few months however in the long run his finances are going to work out better off.

So my advice here is to only get what you can budget for. Put it this way, if you can’t afford two of them at once then you can’t afford one. I tell many of the clients to work with this system and it is very beneficial for them.

Anyway, hopefully this little piece of advice will help you all.

I’ll get some more blog posts up soon when I have some other ideas in my head

Bye for now.

Criminal Liability of Auditor Accountants

Accountants are generally associated with financial computations and the preparation of financial reports. However, it is also important for accounting professionals to be prepared for legal liabilities. Mistakes, lapses in judgment, and intentional misrepresentations can lead to legal cases and dire consequences. Accountants who perform auditing functions, in particular, have clear criminal liabilities under the United States Securities Acts.

A precedent has been set by the Continental Vending criminal case in 1970 officially known as the U.S. v. Simon 397 U.S. 594. In this case, three certified public accountants were convicted for gross negligence even though they have presented proof that they were able to comply with the United States Generally Accepted Accounting Principles and the United States Generally Accepted Accounting Standards. The most important detail of this case is the precedence that being compliant with professional accounting standards alone does not make an accountant free from any criminal liability in case they find fraud or unethical behavior in the records and records management of their clients.

It is not enough for accountants to use adherence to guidelines or standards as defense in case they get entangled in major cases of fraud. As the Private securities Litigation Reform Act mandates, accountants who function as auditors or auditors in general should report fraudulent and illegal acts of their clients to the board of directors. If the fraud or illegal act committed is deemed to be something that the board of directors would likely want to conceal, an auditor must to take the initiative of reporting the client to the Securities and Exchange Commission.

Essentially, what all of these mean is that the auditing profession is beyond mere compliance and the satisfaction of the needs of a client. Auditors are also responsible in ensuring the legality of accounting records and transactions. Auditors cannot be instrumental to the commission of crimes and should not ignore instances of illegal acts they uncover.

However, in case accountants are slapped with criminal cases that they believe are unjustified, they certainly have the option to defend themselves. It is easy to find a criminal defense attorney in Tulsa, for instance, such as and other legal experts across Oklahoma. It’s just important to properly choose a lawyer who has the expertise and experience in defending professionals like accountants, especially in view of the evolving nature of accounting regulations and standards. It is important to choose a lawyer who is also updated with the latest regulations, standards, and pertinent precedents in the accounting profession.

Is A Mobile Hair Removal And Waxing Business Financially Feasible?

The multi-billion dollar Beauty Industry is going from strength to strength, fueled by mankind’s desire to become good looking. This statement holds good for both genders, as males can be as looks-conscious as females. While the types of beauty treatments may be legion, the starting point is invariably hair removal. People are willing to spend huge sums of money to get rid of any unsightly hair. If this is indeed so, this particular facet is dropping anchor. The hair removal business will expand exponentially, leading to a boom time for hair removal therapists. This article is both a personal musing and also a rough-cut analysis for those who may be interested in becoming a freelance hair removal therapist.

How an individual would want her/his unwanted hair removed hair is primarily a question of choice. The options are manifold:

  • Razor blades
  • Electric shavers
  • Depilatories
  • Epilators
  • Waxing
  • Laser
  • Electrolysis

When seen dispassionately, none of the hair removal methods require an expensive static salon or gadgets that need more than a cubic foot of space by themselves. At first thought, there is a possibility that the power generating systems essential for the more advanced technical methods may require some storage space. Deeper scrutiny shows, however, that technically advanced hair removal systems have pre-charged hand-held devices, with replaceable lamps. Ergo, a hair removal therapist can operate outside a beauty salon-I can go mobile.

The significance of going mobile is enchanting. This is one business that requires little overhead and fixed costs, with a rapid return on investment (ROI), something that has always fascinated me. I only need a small but well-appointed van to become a mobile hair removal specialist. I can even dispense with that specially designed van and work in the client’s home, i.e., become a hair-removal therapist on call, where I can more than make do with my current car. My client will be most comfortable at home, a factor that lends stability to my business. I can start tomorrow with a basic and relatively inexpensive DIY kit! All this thanks to the advent of at-home-hair-removal machines (for more details about home laser hair removal, head over to which reviews best home laser hair removal systems) The only other thing you need is experience and the requisite qualifications.

I won’t offer any shaving solutions-those who do use shavers, whether manual or electric, do so of their own accord and know the pros and cons involved. I will carry depilatories, but only when asked for. They aren’t overly popular, though better than razors. I expect a little work with Epilators, which are electric devices that use hundreds of mini-tweezers to pluck hair. I’ll advise my client that I’ll use them only on her legs and her forearms, on a monthly basis. I would like to focus mainly on waxing and laser devices. I’ll use only the best equipment and material in the business and try to exude an impression of a classy, well mannered and well-educated therapist.

There are two types of waxing, strip waxing and hot waxing. Overheads would be of the order of $150-200, a one-time outgo, since I’d need a small microwave to heat wax in the latter case, followed by the cost of wax every month. That said, hot waxing is preferable for clients who have sensitive skin and is less painful than strip waxing. I have both Brazilian and Hollywood waxing in my repertoire, and will charge that much extra for my dexterity that would be put to test.

Portable home laser hair removal systems are more expensive. There are two varieties of such hair removers-a tabletop version and a handheld version. A good table or desktop version would set me back about $550-600, whereas snazzy handheld versions cost between $190-300. Replacement laser lamp cartridges with a 750 pulse shelf life cost around $40 per lamp and less if bought as a pack of three, or close to $80 for a 1500 pulse shelf life. Again, for the best home hair removal machines, check out Linda Walker’s site that also discusses latest anti-aging treatments (if you are also into beauty therapy). I would like to have my business see a demand for four 1500-shot lamps in my first year, increasing by one to two every year. My aim is to make $2,500 a month, increasing gradually to $ 4,000 a month, all expenses included. I plan to work every day bar Sundays.

If you want to become a hair removal therapist, you need to be National Vocational Qualification (NVQ) level 3 qualified. But you have start from scratch, beginning with NVQ level 2 where you study waxing therapy and perform well enough to gain entry into a salon. This is the period where you gain the experience required to progress. Do please put in hard work and keep your eyes and ears open to pick up tips that will stand you in good stead in the days ahead. After all, you want to prove that a mobile hair removal and waxing business is financially feasible, don’t you?

Earning a Fair Bit of Extra Money with Binary Options Trading

In today’s world, everyone is making it a point to make as much money as they can. This is because the current economy is very unstable. A lot of people who used to be well off have gotten bankrupt, and this is because they were unable to prepare for sudden financial problems. While earning as much money as one can–ultimately can’t protect one from the worst financial problems, it can still help one recover should they end up facing them.

The good news for everyone is that there are now a lot of ways people can make a fair bit of money on the side. One of these is actually binary options trading. So long as you trade with Banc de Binary or any other legitimate brokerage, you can be sure that your binary options trading experience will be safe and profitable.

Before anything else, let us first discuss what binary options trading is exactly. Binary options trading, if you didn’t know, is a form of online trading that first became available to the public around 2008. In the six years since it became widely available, thousands of people from all over the world have started doing it. It is actually one of the most popular forms of online trading now. Now, you may be asking, what exactly led to binary options trading becoming so popular? The primary reason would have to be the ease with which people can engage in it. After all, to profit from a binary options trade, people just have to correctly choose between putting or calling on an option. The correct choice always leads to monetary rewards.

Of course, and I can’t stress this enough, it is important for people to only work with a brokerage that is legitimate. Unfortunately, there are so many illegal brokerages out there that still fool a lot of binary options traders. These illegal brokerages claim that they offer many amazing benefits to their clients, but the truth is that they don’t. What’s worse is that they ultimately rob their clients of their hard earned money after some time.

The good news is that there are many binary options brokerages out there that are legitimate. For the sake of this post, however, I am only going to recommend Banc de Binary. Why Banc de Binary? I do binary options trading with Banc de Binary because it is the only binary options trading brokerage that is regulated by the CySec. Although other legitimate brokerages are regulated, Banc de Binary is regulated to such a degree that it can’t exploit any loopholes. For this reason, the brokerage’s clients are always completely safe with them.

Hopefully, this post of mine gives people a great idea how to make a fair bit of extra money on the side. In my case, I make around $50,000 worth of extra money a month through Banc de Binary. So long as you learn everything you can with regard to binary options trading and work with a legitimate brokerage, you’ll be able to earn as much as I do. Who knows? You might even end up earning more than I.

Cost-Effective Beauty Investments

While it is true that beauty is only skin deep and it is the inside self that truly counts, it is still worthwhile caring for your outward appearance. Why? At the risk of sounding superficial, looks do matter. How you appear gives a person you just met the first impression and he will judge you by how you look. Looks are even more vital if the kind of work you do involves dealing with a lot of people. You will find it easier establishing relationships if you appear attractive. However, the most important reason for looking good is that it gives your self-esteem and self-confidence a big boost.

To gauge how important looking good is to people these days, one only needs to see the booming cosmetic and beauty industry. Statistics show that in the United States alone, more than fifteen million cosmetic surgery procedures were performed in the previous year. There are an increasing number of clinics, spas and salons that cater to everyone’s beauty needs. Also, trying to look good is no longer the exclusive domain of the female gender because more and more men are becoming regular clients of these beauty centers.

Being and staying beautiful is not cheap. If you want to look your best, you should expect to shell out funds from your pocket, although there are several means by which you can reduce your beauty maintenance costs. The best way to think of it is as an investment and as such, you should look for ways to invest your money cost-effectively. Contrary to the belief of many, a beauty treatment need not cost you a fortune. Of course, you would want to find the cheapest treatments; but as a word of caution, the least expensive ones are not the most cost-effective. Remember that being cost-effective means getting the most value for your money, not spending the least amount.

One concrete example would be opting for facial acupuncture instead of a plastic surgery. Acupuncture has been used in Chinese traditional medicine for thousands of years to treat a host of illnesses; now, it is being used to improve one’s looks. Cosmetic acupuncture is non-invasive, inexpensive, has no side effects, has minimal pain and provides health benefits. The process involves putting tiny needles on the face as well as specific areas in the body. The piercing of the needles is known to stimulate collagen production, resulting in the reduced wrinkles, glowing complexion and firmer and smoother skin. It is even used to treat a sagging chin and droopy lids.

Also, you should look out for beauty promotions that offer discounts. This means you will be provided with the quality treatments and services at a much lesser cost. You should take care though to go to reputable beauty centers only, especially if the treatment you are availing of requires surgery. You can read about these promos in print media and advertisements. Better yet, you can search for them online. There are several trustworthy cosmetic surgery centers that have business websites. For instance, if you would like to have some enhancements done on your body, you can check out this site for NYC breast augmentation. Another clinic that performs similar procedures but is located further west can be found at this site, for breast augmentation Denver in Colorado.

Striving to look your best and investing on your appearance is a worthwhile endeavor. It is an investment that will have returns, even if they are mostly intangible. However, you also have to remember not to neglect developing what is inside, which is your personality. While it will be your beauty that will catch people’s attention, it will be your personality that will keep them interested. As far as real beauty is concerned, it is still the inside that really matters.

Since The Financial Crisis Small Business Is Getting Tougher

Most of my accounting practice clients are small businessmen. They run a whole range of different types of small business.

I have clients who own a bakery, a spray painting and car repair business, a small clothing shop, a tire repair and retail business and much more.

However there is one common theme when I speak to all of them. They are all reporting that business is getting harder and harder.

From what I read, the cause of this is that as the economy deteriorates consumers have less and less money to spend and so are spending much less on the sorts of day-to-day purchases they would be making otherwise.

As well as this, the global financial crisis has scared many people and so many consumers are now putting money away into savings rather than spending it.

Of course as consumers cut back small business owners suffer, and this is exactly what I am hearing from my clients.

Some of them are really struggling and one is facing closing the business. Times are extremely tough for small business.

I am advising many of them to start economizing in every way they possibly can. They need to economize both in their personal lives and in the business.

I am advising many of my small business clients to start examining every single expense undertaken by the business and to try and identify expenses which can be trimmed or completely removed.

I am also suggesting that they examine every single product that they sell to determine how profitable that product is with a view to cutting every single unprofitable product from their line. Whilst I know it’s important for small businesses to offer certain products, even if they aren’t profitable, business owners need to give some serious thought to their product line.

They should also examine ways to cut their personal expenses. There’s many ways to do this, including some which may actually put some money back in their pocket. For instance I managed recently to sell my cell phone at This is a good way to recover a little money from old computers and cellphones which are no longer needed.

So there’s no doubt, from what many of my small business clients tell me, that times are tough. I know this to be true because even in my accounting practice I’m finding that my bottom line is not as good as it used to be.

So my advice is to examine everything in the business to find ways to cut expenses and improve profitability. That may not have been absolutely necessary in the prosperous times, but it is now.

How A Simple Golf Range Finder Website Increased The Bottom Line

As an accountant, I love looking at figures and the most important figure in any business is profit. It doesn’t matter at all how much turnover a business does, all that matters is profit. Turnover is irrelevant.

I have quite a few clients who run small businesses. All of them complain to me that whilst they are working longer and longer hours, the bottom line — in other words their profit — is shrinking.

I know the economy is tight and I know that consumers are spending less money at the moment. But whilst this is the cause of the problems I think there are answers available. Sadly quite a few of these clients haven’t taken my advice when I offer the answers.

One of Those Answers is the Internet

In the last decade a single marketing tool has become available to everyone that is more powerful than any marketing tool that has ever existed before. It’s the internet.

The internet is a mass marketer’s dream. For a very small cost a small business can put a website on the Internet and, after a little time gaining some popularity, the website can be doing business for that entrepreneur day after day even while he’s asleep.

There are so many advantages to doing business on the internet. It’s cheap to set up a website and once you’ve set it up it keeps working for you day after day, week after week and month after month. Everything runs on autopilot.

You can have customers ordering your product on the internet while you’re asleep. Whilst you might be required to work more hours in a regular business to earn more income, the income that you earn from a small website is independent of the number of hours that you work.

I’d like to offer an example. It’s one of my clients who sells golf rangefinders. Now of course this isn’t a product that is easy to sell to a local market. There’s just not that many people who will come to a shop to buy a golf rangefinder, and there is no repeat business because once they have one they don’t need another. So he was trying to market his product throughout the country and finding it extremely hard. Marketing wasn’t easy and advertising was very expensive.

So we commissioned a small website selling his rangefinders. On this website he offers a range of golf rangefinder reviews (right here) and he also offers advice on the website so that potential customers can find the best golf rangefinder (on this page) that will suit their requirements perfectly.

The website has been a huge success and now he is selling more rangefinders than he has ever sold before and he is working fewer hours than he has ever worked before. He can do the business from home, and so has none of the overheads associated with having a shop.

There is no doubt that times are tough for small businesses. But there is an answer — they just need to take advantage of it. They can make use of the world’s most powerful marketing tool, the internet.