Accountants’ Report

Formal document that communicates an independent accountant’s: (1) expression of limited assurance on financial statements as a result of performing inquiry and analytic procedures; (2) results of procedures performed (AGREED-UPON PROCEDURES REPORT); (3) non-expression of opinion or any form of assurance on a presentation in the form of financial statements information that is the representation of management.

Accumulated Depreciation

Total depreciation pertaining to an asset or group of assets from the time the assets were placed in services until the date of the Financial Statement or tax return. This total is the contra account to the related asset account.

Bankruptcy

Legal process, governed by federal statute, whereby the DEBTS of an insolvent person are liquidated after being satisfied to the greatest extent possible by the debtor’s ASSETS. During bankruptcy, the debtor’s assets are held and managed by a court appointed trustee.

First, you should compare low cost carriers with major carriers that fly to your destination. Sometimes the best fares may not be out of the airport closest to you.

Second, you may save some money by purchasing tickets at least 14 days in advance. Also, staying over a weekend or over a Saturday evening can save you money. Ask which days of the week and times of the day have the lowest fares.

Lastly, even if you use a travel agent, you should check airline and internet travel sites looking for special deals. If you are doing your search over the phone, be sure to ask for the lowest fare that arrives at your destination.

1. Have a garage sale.

2. Sell items on eBay.

3. Take clothes to consignment shops.

4. Have a Bake Sale.

5. Open a Lemonade Stand.

6. Sell homegrown Fruits and Vegetables.

7. Hold a neighborhood or community car wash.

8. Babysit.

9. Pet sit.

10. Rent out space in your home.

11. Offer musical or other talent lessons.

These of course will not work for everyone, but hopefully one of these

suggestions can help you earn a little extra dough. I think we all know that when it comes to money, a little can go a long way. So, why not make money with resources you already have? It helps if you can involve something you love. Try taking your hobbies and turning them into revenue.

First, a home energy audit can point out ways to save up to hundreds of dollars a year on home heating and air conditioning. You should ask your electric or gas utility if they audit homes for free or for a reasonable charge. If they do not, ask them to refer you to a qualified professional.

Also, you could save up to $100 a year in electricity costs by enrolling in load management programs and off hour rate programs that your electric utility may offer. Call your electric utility for information about these cost-saving ideas.

1. You should compare the seller’s asking price with the average retail price in a “bluebook” or other guide to car prices which can be found at many libraries, banks and credit unions.

2. You should have a mechanic you trust check the car from head to toe, especially if there are no warranties and if the car is being sold “as is.”

It might also be good to consider purchasing a used car from someone you know and trust. They are more likely to charge a lower price and point out any problems in the car’s history.

1. Travel to see the significant people in your life.

2. Hire a personal trainer.

3. Fix the things that are broken.

4. Educate yourself.

5. Add value to your home.

6. Take time off for a healthy and relaxing vacation.

7. Update something you use constantly.

8. Buy gifts for meaningful people in your life.

9. Update your wardrobe.

10. Buy healthy food.

11. Pay down debt.

Most importantly, spend money on the things you love and the things that make you happy, not just for a short period of time. If you are only restricting yourself and not living your life, you may end up with a large bank account later, but wasted time along the way.

Determining your optimum stock levels can help you or your business maximize your economic expenditures and incomes. There are four terms you should be familiar with:

• Maximum stock level refers to the maximum stock level that may be maintained to ensure cost effectiveness.
• Minimum stock level refers to the point below which the stock level may not go.
• Standard order refers to the amount of stock generally ordered.
• Order level refers to the stock level which calls for an order to be made.

2. Use your cards sparingly. Small charges can add up. Keep track of your usages and simplify your life by sometimes paying debit or with cash or checks.

3. Check your limits. Make sure to check your amount limits frequently in case of changes.

4. Dust off an old card. Use your older cards every month or so on small charges in order to maintain the weight of good credit from those older cards.

5. Be on good terms with your credit card companies. (If you are a good customer, sometimes they will be willing to erase one time late payments, etc.)

6. Dispute old negatives. Often times, consumers have luck disputing old items with a merged lender or another company if their lender records are unorganized or have new employees.

7. Crack down on significant errors. Look over your records to ensure that there are no unnecessary errors due to the credit card company.