Yourself Against Market Recession

Weapon#1: Know your enemy first. Market recession is simply defined as a situation where the GDP or Gross Domestic Product of a nation is suffering with a stable negative increase for the last two successive quarters. If this will last for more than two months up to years, then we will be experiencing economic correction. If longer than a year or two, then prepare yourself for economic depression. While we can mitigate market recession right now, then let us not wait for the worst situation to come.

Weapon #2: Save and earn extra money! A great amount of savings could create a strong defense against any untoward incidents like losing a job. Saving would mean creating an emergency fund for future use. You can deposit this on a bank to earn you interest or you can invest this on some business to earn income. Saving would also mean cutting of unnecessary expenses and turning away from debts. This is possible if you make a realistic budget and follow it strictly. There should be a great distinction between the things that you truly need with those items that you just want to buy. On the other hand, if you have debts, then pay them as often as possible to avoid accumulation of high interest rates and other service fees.

Additional saving tip would be learning some basic household chores like cooking, gardening, fixing items and others in order to minimize paying other people to do it for you. If you are skilled on these, then you could have it as part-time job with other houses too. You could also earn income if you engaged yourself in small business such as selling items that you or your family is no longer using. In this time of market recession, consumers are also seeking items at its lowest price.

Weapon #3: Protect your job. Your job is your life. If your boss will realize your value, you’re probability of getting fired because of market recession is very slim. Take advantage of your job to make a network of connection. With so many contacts that you will know and become friends with, the more number of hands will help you during the battle.

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Survive the Recession Now

Economic recession means that our nation’s economy is stagnant or going down for the last two quarters. To survive the recession, it will all start from you. First thing should be finding a stable job that could likely survive the recession. This would include jobs related to education, health and public administration. On the other hand, avoid jobs that are associated with construction and retails because these rely on cash surplus in the economy.

If you have a job or other source of income, make sure that you allot a certain percentage from it for your savings. Learn to live your life with lesser amount than your actual income. Having a well-planned budget decreases the tendency of buying unnecessary items that will surely overshoot your monthly budget. Prioritize your needs over wants. Being practical nowadays will also allow you to avoid having much debt. As much as possible use cash and don’t engage yourself with debt. If you are already engaged with debt, now is the proper time to pay them slowly by slowly as the interest rates will bury you down

You could also save some money if you will learn how to do household chores yourself that you usually pay others to do for you. Instead of buying instant food from a fast-food restaurant, learn how to cook your favorite meal and other simple menu. You could also study gardening, fixing of household items, and painting, among other household errands.

Setting these goals with firm decision to follow and enact them will likely help you to survive the recession. The nationwide effect of economic recession could be counteracted if each of us will do our own little and simple way at home. After all, great things begin at the basic foundation of the society, which is our home! Take your part now and don’t wait for 2011.

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Banks Claim That They Are Not Stressed

OK, we know this is something of a dog and pony show – attempting to restore confidence in European markets, and with the above mentioned Greek tragedy still being played out, it might just have the comforting effect that was intended. But is it real, or smoke and mirrors – waving, when indeed you’re drowning? Apparently sovereign bonds held by the banks were discounted in this stress test, but only current trading bonds – with those that are held for maturity being counted by the European Central Bank. Of the 91 banks tested, all of the major institutions passed, showing that they are strong enough to weather significant future downturns. Only a handful (seven) didn’t make it, and those were not major players.

These tests are not without their critics. Many of those holler that they don’t really prove anything, and aren’t strict enough. But, when the US conducted similar tests last year, and despite the general loan freeze-outs and unemployment still killing the nation, there seems to be less concern in financial quarters and with the public in general that the banks are teetering on matchsticks. Mission accomplished? Yes, it’s partly face saving, but with the continued fallout of the recession and the hope of economic health still light years away, it may be important to have these lateral exercises. After all, if you say, “I’m doing just fine,” enough, at least those around you might eventually believe it. That’s the theory anyway.

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Survive the Recession Smoothly

Tip#1: Start Saving Now! There are things that you cannot predict or control to happen. You might have a god job right now but you will never know if you are going to lose your job. How are you going to survive for your daily living? How about your bills and other financial obligations? What about those people close to you who are relying for your salary? Most people often neglect to save and will just realize its importance if they are already in the midst of financial burden. If you don’t have any savings yet, now is the time to make it a habit. Just start in a small percentage of your salary, you will be surprised how it could accumulate into a huge amount.

Tip#2: Good Investments to Survive the Recession. There are several things where you could put some of your extra money. You could save them and you could also invest some of it. One good investment would be on stocks. During economic recession, the value of stocks decreases because investors deviate from riskier investments. It would then be the right time to buy good companies’ stocks especially if they reach low values. This could earn you a lot once the economy starts to kick off based on high stock dividends and share value.

Another good investment would be on low-value properties. Like for example in the US, the good properties here are houses wherein the demands for these are going down making the value drop. If you can afford, buy, develop and sell it.

Tip#3. Items on Sale. A business minded person will look for items that he could sell on discounted prices. During the time of economic crisis, most consumers will look for the cheapest item. So try looking for items that you no longer use. One’s trash may be one’s treasure. You could also look for shops or stores that sell bargain goods; it is a good way to cut off your expenses. Either way, items for sale could earn or save you money, a very useful tip to survive the recession.

To survive the recession, each of us should be prepared from the start. We don’t have to wait for it to happen first before we do some actions. We may not prevent or control it, but we could lessen the burden it could bring to our lives.

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Auditing and Accounting

Crime was the reason why forensic auditing was born, most specifically economic crime. Economic crime has affected every country and industry and has escalated in recent times. The number of cases of fraud and corruption that are being reported has continued to grow. This is complicated by the challenges faced by the criminal justice system. Plus the general absence of the necessary skills to gather the proper audit evidence that is vital to criminal investigations.

According to information gathered from law enforcement and criminal justice agencies, the success rate for convictions are not good because prosecuting authorities lack skills and knowledge to provide effective investigation and prosecution. This is where forensic auditing comes in. Thus, forensic accounting gets its name from its association with a court of law. It is carried out to accomplish an objective that entails a judicial process.

An example of this is the computation of asset values in a divorce proceeding. Another is the assessment of damages due to the negligence of an auditor. Still another is fact-finding to see whether fraud had taken place, in what amount, and whether or not criminal proceedings are to be set off. And lastly, the collection of evidence in a criminal proceeding. Forensic accounting focuses primarily on both the evidence of financial transactions and reporting as found within an accounting system. It is the legal framework that allows such evidence to be suitable to the purpose of accounting.

Forensic accountants are chartered accountants that specialize in these types of cases and when there is a need for such evidence. Their job is to distinguish and interpret the evidences of both non-fraudulent and fraudulent transactions in the books and records of an accounting system. They also look out for the ensuing effect upon the accounts, inventories, and presentations. So, it is important that forensic accountants must first understand the regular accounting procedures and processes. In other words, forensic accounting is a specialization.

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CFD Trading

As and when the buyer chooses to sell the product, he then does so at a closing price. This also marks the end of the said agreement or contract between both parties. Whatever gains or losses incurred are calculated based on the difference of the product’s value from commencement until closure of agreement. The value of the product is based on its current market value coupled with speculations as it rides through the market waves.

However, this business of CFD trading is not as simple as it sounds. Other factors to be taken into account include ancillary charges in terms of commissions, financing and account management. Since it basically revolves around market speculation, one must know what he is getting into. If the buyer commits to a contract whereby he thinks the price of the product of interest will move in a certain direction, he then must ensure the contract is one which will reap the expected benefits. In the event the price moves in the different direction, the buyer is required to pay the seller. To add salt to the wound, incidental charges continue to skyrocket if the buyer is not prepared to make informed decisions.

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