Commodities, Ira Epstein, Linn Group, Futures Trading, Online Trading, Technical Analysis, Financial Report, Sales: 866-973-2077
Oct 27
Oct 26
Last year, before I joined the world of public relations, I worked as a financial reporter. It is a job I held for almost 18 years.
Over that time, like many reporters, I orchestrated a list of the top pet peeves performed by PR types. Headlines that did not reflect the content of the press release, for example, or a PR person with a reeeaaallly high voice. (Sorry if you can’t help it. I’m just telling you my pet peeves.)
Now that I have crossed over to the “dark side,” I am policing myself not to make the same egregious missteps, while at the same time learning the ropes. It is sometimes a humbling effort, especially when I hear the same derisive tone on the other end of the phone that I occasionally made as a disrupted reporter.
So as a reminder to myself, and hopefully others, I offer my list of “dos” and “do nots”:
1. Do not list yourself as the contact person if you are going to be out of reach the day the release is sent.
2. Be ready to answer basic questions. I used to get releases from a New York PR firm representing an international corporation that I knew well. Twice, I had to call for basic information. Twice, the PR agency could not immediately answer my question. Every time after that, I called the corporation directly. And I complained.
3. Honor deadlines. Always. And remember that with the web, reporters are feeding the beast in real time.
4. Do not get the reporter’s name wrong. (Leesa Sesack? Really?)
5. Do not chew gum or eat lunch into the phone.
6. Do not leave long story pitches on voicemail. Reporters are busy, and they probably do not like the sound of your voice as much as you (especially if it is reeeaaally high).
7. Regarding voice messages: Leave your name and number first.
8. Do not harangue a reporter. I had one PR person hound me for months about the economic significance of buttermilk-battered chicken. No.
9. Do not be surprised if you bury the lead and the reporter finds it. Reporters are not stupid. They ferret out information for a living. I used to habitually read the first paragraph of a press release, and then the last, before attending to the middle.
10. Treat the reporter as you would like to be treated. This means being honest. And be sure the reporter knows you expect the same in return.
Phew! I could actually go on and on, but why belabor the point? (Rule 11: Do not belabor the point, buttermilk-battered chicken lady.) But please, do feel free to chime in.
Perhaps we can make a book.
Lisa develops and applies public relations and marketing strategies for new and existing clients at JZMcBride and Associates.
With 18 years of reporting experience, most in business and specifically consumer behavior, she is highly skilled at researching data and teasing out the trends. A background in graphic design enables her to see ideas in three dimensions and tell the client story visually.
Oct 25
Commodities, Ira Epstein, Linn Group, Futures Trading, Online Trading, Technical Analysis, Financial Report, Sales: 866-973-2077
Oct 24
Get a credit company’s annual report, the trust plays an important role when it comes to protecting your credit rating. Although each uses a credit report is taken seriously it is important that you know, many benefits it can bring people, especially when it comes to financing and credit history.
Some of the many benefits that they receive each year a person can save the report:
First, the credit report helps you track your monthly expenses. This provides a fast and a list of things that you can have things that you have invested money and even buy their purchases with a credit card.
Secondly, is that we can show the lender – when he made his decision, and provided the use of credit or unfounded. This is simply the best way to determine your credit rating and whether you are someone who is responsible for paying monthly bills, and if your finances properly.
There are several web sites and companies that offer free credit report – this is no reason why you should not receive A. Your report will provide protection at the same time. By law, the creditor giving details and reasons for rejection of his application. If you have a credit report in hand, it is quite possible that your application is approved, may – be, if you have the necessary documents.
In most cases, the Americans are victims of identity theft. This situation results in people without heart and steal information for their own behavior. Your information will be used only for personal use, such as credit cards and shopping with her own name. Identity theft is something that can be avoided, as the free report, you’d be able to provide their personal data more securely and take.
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Oct 23
Getting a yearly credit report from a trusted company plays an important role when it comes to protecting your credit scores. Although not all people have been taking a credit report seriously, it is important for you to know the different advantages that it can bring to an individual most especially when it comes to financing and credit history.
Listed below are some of the different advantages that a person may gain from getting report yearly:
(a) First of all, a credit report helps you keep track of your monthly expenses. This will give you quick information and an overview on the things that you may have purchased things that you have invested on, and even your credit card purchases.
(b) Secondly, this is something that you can present to the loan company – as they will base their decision whether they shall provide and approve your application for loan or not. This is simply the best way to determine your credit score and check to see if you are someone responsible for paying your monthly bills and if you can handle your finances properly.
(c) There are various websites and companies that offer a free credit report – this is no reason why you should not get one. Your free report will serve as your protection at the same time. According to the law, the loaning company should provide information and reasons why they have declined your application. If you have a free credit report in hand, then it is possible that your application may be approved – as long as you have the papers needed.
(d) Most importantly, your free credit report will help you identify if there has been an identity theft that occurred. Most often, Americans are the victims of this identity theft. This is a situation where heartless people gather some of your information and steal them for their own motives. They would just use your information for personal use such as credit cards, and shopping using your own name. Identity theft is something that you can avoid, as with a free report, you would be able to have your own personal information more secured and safe.
Obtaining a free financial report will help you get away from those potential problems in the future – this is a privilege that you should take advantage of.
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Oct 22
According to statement No.128, Earnings per share, a draft of statement of principles was issued by the IASC in October 1993 for public to comment. Due to the extensive use of earnings per share in financial statistics, the IASC’s goal was to commence as to the presentation and determination of EPS in which global comparisons would be permitted. Even with limitations in EPS data, earnings were determined differently in different national methods. The FASB and the IASC believe that in international financial reporting, a consistent determined denominator will be a significant improvement to accomplish international harmonization of the accounting standards for computing earnings per share. The board pursued its EPS project in conjunction with the IASC. The project focused on EPS calculation denominator in spite of the issues concerning earning purpose. IAS 33 Earnings per Share, was issued by the IASC at the same time as the issuance of this statement. The standard provisions are the same as the statement.
The goal of the project was international harmonization, so the presentation by the FASB in its initial decisions on the income statement and earnings per share to the IASC Steering Committee and the IASC Board in September 1996 was considered a preliminary conclusion. The board finally decided to keep the required presentation dual in the exposure draft. The Boards believes it is necessary to attain international harmonization in all phases with the IASC because the difference is only one of display and not one of a conceptual nature.
International Financial Reporting Standard No.5 was recently issued by The International Accounting Standards Board on Non-current Assets Held for Sale and Discontinued Operations (IFRS 5). The most recent idea of discontinued operation exposure by the international standard setters provided the EITF with a chance to develop harmonization internationally and remove a major issue that was creating a disagreement between international standards and US.
For additional accounting information, contact Phoenix accounting firm Jacobsen & Wachterhauser, certified public accountants in Arizona
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Oct 21
Financial and Tax Accounting
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It is a common misnomer that and organization needs to use the same method of accounting depreciation for financial reporting and tax purposes. An organization must decide if it is cost effective to use more than one depreciation method and furthermore which method or combination of methods to use. Each method carries with it a distinct list of benefits and draw backs and can be customized to fit a companyâs unique situation.
There are three main types of depreciation techniques.
Straight-Line – Simplest deprecation technique. A company estimates the salvage value of the item and the usable life. It then subtracts the scrap value from the original cost and divides by the life span in years to get the annual depreciation expense. The largest benefit of this method is that it is very simple to understand and easy to use. A major drawback to this technique is that it does not acquire all the possible tax benefit early in the life cycle, effectively leaving those tax dollars on the table longer.
Double-Declining Balance – This technique factors in the fact that an item is more useful near the time of purchase as opposed to near the end of its life. The organization records a larger expense of depreciation in the first few years and it continues to decline until the scrap value is reached. A major benefit to this method being largely front loaded; where most of the depreciation is taken at the beginning of the life cycle is in reducing the taxable income quickly. This method is more complicated and requires involvement of the technical staff to accurately estimate an items life expectancy.
MACRS – The method approved by the IRS. Similar to the Double-Declining balance method it allows for most of the depreciation expense to be absorbed near the beginning of an items life to maximize the tax benefit of the additional expense. This allows a company to retain more income early in the depreciation cycle while reducing their overall tax exposure. This carries the same benefits and drawbacks as the double declining balance method.
On the surface some organizations will identify the benefits of using one depreciation method for financial accounting and a different method for tax accounting. Mainly it allows the company to reduce their taxable income now while still maintaining an easy to read balance sheet. The costs associated with the extra staffing and complexity of tax law may make this type of approach cost ineffective for smaller organizations, but for larger corporations that have the purchase a large quantity of equipment on a yearly basis a dual method accounting system may be cost effective.
The smaller organizations that cannot carry the additional burden of increased staff necessary to keep up with ever changing tax law, the simpler approach of maintaining a single method of recording depreciation. In addition to saving on staffing costs, the tax benefit realized with a two method approach in a smaller organization is minimal at best. Like most other financial and tax reporting functions each company must find the method and situation that is both cost effective and maintainable.
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Oct 20
The Flaw of Accounts Receivable in Financial Accounting to Non-accountants
In my previous publication, The Unresolved Flaws in Financial Accounting I addressed some of the complex flaws in financial accounting that add to the confusion and frustration non-accountants face in trying to decipher financial reports. This time, I look at accounts receivable.
Accounts receivable is an asset account in a balance sheet. It allows a company to hold revenues and expenses within the period they occur which is a generally accepted accounting principle. This recognizes transactions irrespective of when actual payments take place. What this means is that when a firm sells on account, it considers future payments for its goods and/or services as assets thus increasing revenue.
To a non-accountant investor or stockholder, this recording appears easy to understand on a newly released balance sheet. The truth is that there are other entries that derive from the accounts receivable recording. The net realizable value of this account is the actually amount that the firm expects it will actually receive in payments. Off the back, that means that the amount recorded in accounts receivable though making assets look good will not be actualized. This amount is however an estimate based on previous experiences, trends, and ratios.
The net realizable value creates another account, the allowance for bad debt expense. This account holds the difference between what that actual accounts receivable and the net realizable value. Most firms use an aging method, usually in 30-day blocks to make adjustments to the value of their assets on the balance sheet. These uncollectible payments are described as “contra assets” because they reduce the vale of previously declared assets.
Most non-accountants do not understand the forward and backward entries and adjustments to pages and pages of detail reporting regardless of how many pages of accompanying notes there are. The question becomes, why not subtract the estimated bad debt from the account receivable entry? The problem is that though the firm knows or rightfully estimates that some payments will not be received, it cannot write-off an account unless it specifically knows which accounts will be in default.
The danger with this estimated is that if the allowance for bad debt is under estimates, then accounts receivable and net income will be overstated and returns on investments and equity (ROI and ROE) will be inaccurate. This usually is the case when an entity wants to appear conservative in its estimates of uncollectible debts.
It should be noted that sometimes, companies can sometimes turn accounts receivable into notes receivable. This is a document in which the buyer pledges to pay he outstanding balance based on a prearranged agreement.
Another account that adds to the mix for the non-accountant is the account for cash discounts. These are early payment incentives that companies offer buyers if the buyer makes payment by a certain early date, usually 2%, if paid within10 days of the purchase. Again this means that the accounts receivable will not be fully realized so an account for estimated cash discounts is added to the balance sheet.
As stated earlier, accounts receivable hold revenue and expenses together in the period in which they occurred. Expenses can by their very definition are out going. Accounts receivables are incoming, and net income is the realization of subtracting expenses from revenue. It stands to reason therefore that for a company to have a positive cash flow, be ability to recover on the accounts receivable in vital.
Oct 19
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Oct 18
Pre-Market: Sector Update: Financials Gain; AIG Seen Facing Difficulty Selling AIA Unit Financial issues are broadly higher before the bell, even as American International Group (AIG) faces considerable downside risks as the sale of its AIA Group unit may only attract $25 billion, instead of the $35.5 billion it is seeking, according to Barron’s. Boston Private Financial Holdings (BPFH) said it plans to sell $40 million shares. Top Financial Stocks JPM: +0.98% BAC: +0.91% WFC: +1.15% C: +1.32% GS: +0.44% 8:41 AM, Jun 7, 2010 — Dow Jones US Financials Index: 258.42 Friday regular session close
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