Do You Know How to Create a Balance Sheet?

Creating a balance sheet is recommended for both experienced and beginner investors. It is the foundation for any investment account, providing a clear picture of how well any investment portfolio has done over a specific period of time. Your balance will indicate a net worth, and provide insight into how profit has been achieved.

The Benefits of Balance

A balance sheet has one primary purpose: to give you a comprehensive overview of your current financial status. This information can help you to identify strong and weak points in your investment plan, and to make any necessary changes to ensure that your investments – and finances – remain in the black.

Basic Accounting

The primary equation you will need for your balance sheet is this: assets = liabilities + owner’s equity. If you’re good with excel you may wish to create a template that includes this equation, which you will be able to use and re-use at any point in the future. Using excel is recommended, and there are many online tutorials which will help you create an easily understandable, yet comprehensive, balance sheet.

Allocating Value to Assets

Sometimes, allocating value isn’t as straightforward as we would like. Particular assets may have value which is calculated in the long-term, rather than the short. These are referred to as ‘fixed assets’. All fixed assets depreciate, so this is a really important reason for why you should aim to update your balance sheet at least once a month. You may also find that your assets comprise many smaller items or investments which transform on a regular basis. Stock is a good example of this kind of fluid asset. As well as a balance sheet, you should also make sure your fluid assets are catalogued and tracked.

Creating Your Balance Sheet

The basics of creating a balance sheet are fairly simple. To begin, you will need to examine three areas – any assets you own, any liabilities you have, and any funds you draw from. A balance sheet can be used for both individuals and businesses so, for example, when examining funds you might end up looking at either a pay check or the sum of your company’s shareholder funds. Each balance sheet will end up telling a different story, depending on the status of each individual or business. The final figure you arrive at will be your equity. This is the magic number which represents your worth, your success, and what financial possibilities there may be for you in the future.

How to Stand Out at Trade Shows and Exhibitions

Exhibiting at a trade show can be a challenge if you’re new to the game. How do you stop your stall paling into the background whilst your competitors shine?

Understandably, exhibiting requires time and money. It’s a decision that needs a lot of thought and preparation, because if you rock up to a trade show unprepared, you could do your company more damage than good.

Budget

You need to have enough funds to cover travel costs, attendance and an attractive setup. Nobody will pay any attention to the person in a corner with no information readily available to glance at when passing. It is vital that you have a couple of tables with clean, dark colored table cloths. Having a set of detailed roller banner stands with high quality graphics is key to catching the eye of potential customers, as well as for staking your territory…It’s quite amazing how politely neighboring stalls can expand into your space! A few desk lamps are a neat trick, as the twinkly lights can be extremely attention grabbing.

Time

Figure out if you or your staff have the time required to do a trade show, taking into account travel, the day itself, research and follow up. It’s a lot of work, which can almost certainly help your business if it’s done properly and with dedication. After the event it is vital to keep those connections that you made at the show warm by making phone calls and inviting people out for drinks.

Preparation

To really do well at trade shows, you need to make friends. Before the show get in contact with the organisers and find out as much as you can. Promote the whole trade show for brownie points, rather than just your presence there, and get in touch with other companies exhibiting or just attending. Find out who your neighbors will be, and who are the main people you want to attract. It’s even worth scheduling a few meetings throughout the day with those you specifically want to attract, as this will show professionalism. By making connections prior to the show, affirming them at the event, then following them up afterwards, you make warm relationships rather than business card driven contacts.

Presentation

Dressing the part is as important as having a well put together display set. Leave your dinghy shirts at home and make sure you are looking crisp, fresh and professional. Girls go easy on the makeup, and guys go easy on the aftershave, as a smile and a strong handshake will do a lot of the groundwork. it doesn’t have to be a whole three piece suit or a pair of heels as high as the heavens, but smart casual has a habit of slacking, so make sure anything you decide to wear is clean, ironed and simple.

The reality of the trade show is that it can very easily go both ways, but as a rule, if you try to have a bit of fun and make a few friends, you will do just fine.

Understanding the Quick House Sale Market

As the UK property market continues to experience a decline in terms of both value and demand, proactive home-owners may be forced to consider their immediate future. Rather than becoming trapped in a cycle of decline property prices and negative equity, for example, you may be better served by selling your property quickly through a reputable home purchasing company. This will enable you to recoup as much of your initial investment as possible, without forcing you to encounter long-term debts.

Understanding the Quick House Sale Market

This market is relatively new and unknown, however, as it only emerged as a viable entity in the wake of the Great Recession. Since then, the market has undergone significant changes and benefitted from the implementation of more stringent regulations, with the formation of the National Association of Home Buyers (NAPB) establishing a clear set of guidelines for both companies and vendors to follow at all times. So if you are keen to enter this market in the current climate, it is important to understand its nature and prepare yourself for the negotiation process.

As a general rule, quick house sale companies pledge to purchase properties quickly for a price that is slightly below market value. This sometimes causes vendors to believe that they are being unfairly treated, but the fact remains that firms are required to incorporate future home-improvement and marketing costs when making an offer. In addition to this, the discounted offer is compensated for by the promise of a quick and cost-effective transaction, with companies such as the House Buyer Bureau, pledging to complete individual deals and the transfer of funds within a seven day period.

Gathering Information and Completing the Transaction

Another common misconception that surrounds the quick house sale market and its representatives is the concept of ‘buying for cash’, which suggests that a company employee will complete the transaction by attending your property with a briefcase full of cash. In fact, this type of transaction is usually completed by direct bank transfer, which offers transparency and a swift resolution for both parties.

Over time, it should be hoped that the newly establish regulations and guidelines will destroy these misconceptions and create transparency within the market. This will not only ensure that all firms operate according to a strict code of conduct, but it will also offer peace of mind to vendors and enable them to access in-depth information before they make a commitment. Given the scope and nature of real estate investment, this is crucial step in the home-ownership and selling process.