Define question of “How to Ensure That Business Finance Are Kept in Order?” Do you struggle to keep your business’s financial affairs in order? It’s an area that can cause many difficulties for a business owner or the decision makers in a company. However, there are many ways you can address this issue so that you can focus on the more productive aspects of your organization. Below are some of the main ways to ensure that a business’s finances are kept in order.
Taxation
Every business must adhere to a wide range of tax laws and regulations. However, this is an area that keeps changing and evolving. It’s crucial to keep up-to-date with the latest taxation developments, so it’s advisable for you or someone in your company to increase their taxation knowledge by taking an appropriate taxation course provided by a college or university like Northeastern University.
Thanks to a range of online master of science in taxation programs, this is not as difficult or disruptive as it sounds. An online MST program can complete over the internet, which means that a student can study at home, at work, or from any location that suits them. As well as this, you can study at times that suit your current lifestyle, which means you can carry on working as normal.
Hire the Right People
It’s vital to hire financial professionals who know exactly what they are doing. Some businesses may only require a single financial expert, while larger organizations need a wide range of financial professionals including accountants, bookkeepers, and financial advisors. Make sure you have a strict hiring process that ensures that only the best financial experts work for you because these are the people who could make or break your business in the future.
Keep Organized and On Budget
When you’re looking after the finances of a business, you have a lot of facts and figures to deal with. From the start, you need to become extremely organized. Plan and schedule every money related activity so that you have full control of your financial destiny. Creating realistic budgets and sticking to them is also one of the main keys to success. When you are trying to keep your financial situation under control. Role of Price Perception in Consumer Buying Process.
Cash Flow
Money is the lifeblood of every business, so it’s vital to have a healthy cash flow. You can achieve this in a number of different ways. Firstly, you should always look for some kind of up-front payment for your goods or services. Secondly, give customers some incentives that will persuade them to pay early or pay on-time, and finally. Offer your customers as many payment options and payment plans as possible. Because, different people prefer to pay in different ways.
Invest in the Appropriate System or Systems
A wide range of advance and efficient accounting systems are available that are design to make your life easier. The latest cloud-based systems give you a much more flexible accounting solution. Especially if different people need to access and update your business’s financial records.
How you deal with the financial aspect of your organization will determine how successful your business venture becomes. This is why it’s extremely important to address each of the points above. Best Characteristics and Qualities of a Good Leader.
Understanding and Learn Innovation at Indian Banking Sector. Innovation derives organization to grow, prosper & transform in sync with the changes in the environment, both internal & external. Banking is no exception to this. In fact, this sector has witnessed the radical transformation of late, based on many innovations in products, processes, services, systems, business models, technology, governance & regulation. A liberalized & globalized financial infrastructure has provided had provided an additional impetus to this gigantic effort. So, what we going to discuss; Understanding and Learn Innovation in Indian Banking Sector! Also learn, What is an Entrepreneur?
Now, Understanding and Learn Innovation in Indian Banking Sector!
The pervasive influence of information technology has revolutionaries banking. Transaction costs have crumbled & handling of astronomical brick & mortar structure has been rapidly yielding ground to click & order electronic banking with a plethora of new products. Banking has become boundary-less & virtual with a 24*7 model. Banks who strongly rely on the merits of ‘relationship was banking’ as a time-tested way of targeting & servicing clients have readily embraced Customer Relationship Management (CRM), with the sharp focus on customer centricity, facilitated by the availability of superior technology. CRM has, therefore, has become a new mantra in service management, which in both relationships based & information intensive.
Thanks to the regulatory changes & financial innovation, large banks have now become complex organizations engaged in a wide range of activities in the US & some parts of Europe. Banking is now a one-stop provider with a high degree of competition & competence. Banking has become a part of financial services. Risk Management is no longer a mere regulatory issue. Basel-2 has accorded a primacy of place to this fascinating exercise by repositioning it as the core banking. We now see the evolution of many novel deferral products like credit risk management tool that enhances liquidity & market efficiency. Securitization is yet another example in this regard, whose strategic use has been rapidly rising globally, So is outsourcing.
The retail revolution with the accent on retail loans in the form of housing loans & Consumer loans literally dominating the banking globally is yet another example of product & service innovation. Various types of credit & debit cards & indeed e-cash itself, which has the potential to redefine the role of monetary authorities, are some more illustrious examples.
Need to Push Full Throttle Ahead:
Increasing knowledge among societies is forcing the banks to adopt international best practices to remain in business. Important dimensions of change are market, customers, competition, technology & society. Banks should focus beyond technologies and geographies to accelerate growth. Indian banking sector has adopted many dynamic innovations but still, some more are needed like risk management, e-commerce etc. The new game requires new strategies with an accent on innovational transformation.
Two roads diverged in a wood, and I
Took the one less traveled by,
And that has made all the difference.
– Robert Frost
It is Customary to describe the unfolding world as of unprecedented change, of a whirlwind of ideas, of the explosive growth of since-based technology. Prospects for continued escalation of change are awesome: the world’s knowledge-based now doubles every eight years, but by 2020, the doubling time is estimated to be slashed to 76 days. A strong momentum and apparent inevitability of globalization strongly suggest an accentuation of the pace of development. Such contextual changes records. An impetus through increasing integration of the productive process, rapid technological advances, splashing of legal & institutional barriers to global trade & a smoother flow of global capital.
Michale E Porter demonstrated that in an industry, the nature of the competition is embodied in the treatment of new extent, the threat of substitute product or services, the bargaining power of suppliers/ buyers and the rivalry among existing competitors. The significance of introducing a steady stream of innovative products for banks emanates from its potential to salubriously impact all these factors.
Management theories & practice are characterized by a bewildering diversity of opinions. But the view, that the challenge to innovate is urgent & continuous, enjoys a fair measure of consensus across the development spectrum. In the present world, where all elements are critically in ferment, launching of innovative products by strong business analytic tools, optimized processes & a modern centralized IT system is central to ensuring short-term survival, achieving long-term prosperity & eventually gaining competitive advantages.
An appropriate approach to the growth matrix in an era of change, where the convergence or real & virtual worlds has become a part of our daily lives, requires a clear understanding of microeconomic framework, education & training policies, trade & competition policy & socio-economic milieu. To what extent can difference in innovation explained the observed difference in growth, profitability & financial performance of industries & even firms within the same industry? How has innovation been instrumental in influencing the Indian experience of development of banks? What lesson can be gleaned from the recent Indian experience & that of other countries? What should be the roadmap for innovation? This article attempts a brief look at some such issues of growing concerns & provides insight into the impact of the driving forces and factors, behind innovation, on Indian with particular reference to banks.
Discontinuity: The New Disequilibria:
Everything in business is always in flux & flow. Engel’s stressed, “equilibrium is inseparable from motion & all equilibrium is relative & temporary”. The quickening of change (Table 1), however, caused discontinuity & ripples of concern on the boardrooms. But it is necessary to realize, as powerfully argued by Gary Hamel, “We stand on the threshold of a new age – the age of revolution. For the first time in history, we can work backward from our imagination rather than forward from our past”.
TABLE 1: DIMENSIONS OF CHANGES
Sectors
Change
Impact on Business
Markets
Local to Global
– Investments in Identifying
& Servicing New markets
Customers
Acceptance to delight
– Listening to Consumers.
– Knowing &Understanding
their needs.
– Fulfilling Customer’s
Requirements.
Competition
– Increased Competition
– Shortage to surplus Economy
– Squeeze in margins leading
to cost cuttings.
– Consolidating &
Convergence.
Technology
Gradual change to quantum Change
– Innovational Shareholders
Transparency.
Society
Demanding Rights
– Corporate Governance
– Concern for social
Obligations.
Historically, Changes in society have always been preceded by the flow of ideas, which provide the Cutting Edge of development. In contemplating the challenges, the approaches of those enterprises. Which successfully weathered the challenges of this volatile era. Shows that innovation is not only power but also the key to sustained economic success. While the debate over innovation in the world of business has raged for long. Innovation has now rapidly emerged as a critical lament of the growth strategy.
Despite the multi-layered, any multi-dimensional aspect of ubiquitous change, most an organization still disconcertingly confine themselves to incremental improvement & innovation without trying to alter the rules of the game, bring about breakthrough innovation. What is prognostically alarming is that most companies in the given industry or market tend to follow. The same unwritten rules for conducting business with limited deviations from de facto strategies. This is reflected by the fact that though agglomeration & the location of innovative activities are closely related, important sectoral clusters like textiles (Tirupur), diamond-cutting (Surat), hosiery (Ludhiana), call centers (Gurgaon), auto-companies & automobiles (Chennai), with the notable exception of Bangalore (IT) are largely confined to incremental innovations.
Apart from this, the speed of the mistake of change quickly needs to be done to make existing strategies obsolete and continuously improving. Therefore, an important policy assessment, therefore, the impetus in the banks by radical and unbalanced innovative measures for better performance in this turbulent era.
‘The Innovation Imperative: Accelerating Growth beyond Technologies and Geographies’
Traditionally, innovation has been defined with the focus on traditional concepts of industry research & development & the commercialization of new products and/or process technologies. But the definition of innovation as “acceptance of & readiness to change across the organization, dedication to continuous improvement processes, willingness to experiment and explore novel ways, building new relationship & alliance, establishing new approaches to markets, channels, customers, pricing strategies & new & varied approaches to organization, measurement and performance measurement” is generally a acceptable.
The history of the growth of financial development, as indeed of all other development, is intertwined with the growth of innovation. Compelling & incontrovertible cross-country evidence prove that successful innovation is crucial to the competitive edge of all businesses. But innovation is particularly important for banking & finance companies. Innovation, which transcends invention, represents the point of convergence of invention & insight. Organizational ethos needs to stress innovation as a key driver of growth that surprises & delights the customer with new, differentiated & relevant benefits, this is not a cliché but defining characteristics of the modern cooperate saga.
Understanding and Learn Innovation in Indian Banking Sector!
A business plan is a written statement that describes and analyzes your business and gives detailed projections about its future. A business plan also covers the financial aspects of starting or expanding your business—how much money you need and how you’ll pay it back.
Writing a business plan is a lot of work. So why take the time to write one? The best answer is the wisdom gained by literally millions of business owners just like you. Almost without exception, each business owner with a plan is pleased she has one, and each owner without a plan wishes he had written one.
Why Write a Business Plan?
Why Write a Business Plan?
Here are some of the specific and immediate benefits you will derive from writing your business plan.
Helps You Get Money
most lenders or investors require a written business plan before they will consider your proposal seriously. Even some landlords require a sound business plan before they will lease you space. Before making a commitment to you, they want to see that you have thought through critical issues facing you as a business owner and that you really understand your business. They also want to make sure your business has a good chance of succeeding.
In my experience, about 35% to 40% of the people currently in business do not know how money flows through their business. Writing a business plan with this book teaches you where money comes from and where it goes. Is it any wonder that your backers want to see your plan before they consider your financial request?
There are as many potential lenders and investors as there are prospective business owners. If you have a thoroughly thought-out business and financial plan that demonstrates a good likelihood of success and you are persistent, you will find the money you need. of course, it may take longer than you expect and require more work than you expect, but you will ultimately be successful if you believe in your business.
Helps You Decide to Proceed or Stop
one major theme of the book may surprise you. It’s as simple as it is important. You, as the prospective business owner, are the most important person you must convince of the soundness of your proposal. Therefore, much of the work you are asked to do here serves a dual purpose. It is designed to provide answers to all the questions that prospective lenders and investors will ask.
But it will also teach you how money flows through your business, what the strengths and weaknesses in your business concept are, and what your realistic chances of success are.
The detailed planning process described in this book is not infallible—nothing is in a small business—but it should help you uncover and correct flaws in your business concept. If this analysis demonstrates that your idea won’t work, you’ll be able to avoid starting or expanding your business. This is extremely important. It should go without saying that a great many businesspeople owe their ultimate success to an earlier decision not to start a business with built-in problems.
Let’s You Improve Your Business Concept
Writing a plan allows you to see how changing parts of the plan increases profits or accomplishes other goals. You can tinker with individual parts of your business with no cash outlay. If you’re using a computer spreadsheet to make financial projections, you can try out different alternatives even more quickly. This ability to fine-tune your plans and business design increases your chances of success.
For example, let’s say that your idea is to start a business importing Korean leather jackets. Everything looks great on the first pass through your plan. Then you read an article about the declining exchange ratio of U.S. dollars to Korean currency. After doing some homework about exchange rate fluctuations, you decide to increase your profit margin on the jackets to cover anticipated declines in dollar purchasing power. This change shows you that your prices are still competitive with other jackets and that your average profits will increase. And you are now covered for any likely decline in exchange rates.
Improves Your Odds of Success
one way of looking at business is that it’s a gamble. You open or expand a business and gamble you’re and the bank’s or investor’s money. If you’re right, you make a profit and pay back the loans and everyone’s happy. But if your estimate is wrong, you and the bank or investors can lose money and experience the discomfort that comes from failure. (of course, a bank probably is protected because it has title to the collateral you put up to get the loan.)
Writing a business plan helps beat the odds. most new, small businesses don’t last very long. And, most small businesses don’t have a business plan. Is that only a coincidence, or is there a connection between these two seemingly unconnected facts? my suggestion is this: let someone else prove the connection wrong. Why not be prudent and improve your odds by writing a plan?
Helps You Keep on Track
many business owners spend countless hours handling emergencies, simply because they haven’t learned how to plan ahead. This book helps you anticipate problems and solve them before they become disasters.
A written business plan gives you a clear course toward the future and makes your decision making easier. Some problems and opportunities may represent a change of direction worth following, while others may be distractions that referring to your business plan will enable you to avoid. The black and white of your written business plan will help you face facts if things don’t work out as expected. For example, if you planned to be making a living three months after start-up, and six months later you’re going into the hole at the rate of $100 per day, your business plan should help you see that changes are necessary. It’s all too easy to delude yourself into keeping a business going that will never meet its goals if you approach things with a “just another month or two and I’ll be there” attitude, rather than comparing your results to your goals.
Issues Beyond the Plan
I have written this book to provide you with an overview of the issues that determine success or failure in a small business. Experienced lenders, investors, and entrepreneurs want a plan that takes these issues into account. of course, this book can’t cover everything. Here are some of the key business components that are left out of this initial planning process.
Bookkeeping and Accounting
This book discusses the numbers and concepts you as the business owner need to open and manage your small business. You have the responsibility to create bookkeeping and accounting systems and make sure they function adequately. One of the items generated by your
accounting system will be a balance sheet. A balance sheet is a snapshot at a particular moment in time that lists the money value of everything you own and everything you owe to someone else.
Taxes
While there are a few mentions of tax issues throughout the book, most of the planning information doesn’t discuss how taxes will be calculated or paid. The book focuses its efforts on making a profit and a positive cash flow. If you make a profit, you’ll pay taxes and if you don’t make a profit, you’ll pay fewer taxes. A cPA or tax advisor can help you with tax strategies.
Securities Laws
If you plan to raise money by selling shares in a corporation or limited partnership, you’ll fall under state or federal securities regulations. You can, however, borrow money or take in a general partner without being affected by securities laws. A complete discussion of these issues is beyond the scope of this book. For now, take note that you must comply with securities regulations after you complete your plan and before you take any money into your business from selling shares or partnership interests.
Your Management Skill
This book shows you how to write a very good business plan and loan application. However, your ultimate success rests on your ability to implement your plans—on your management skills. If you have any doubts about your management ability, check out the resources other article. Also see another posts for a thought-stimulating discussion of management.
Issues Specific to Your Business
How successfully your business relates to the market, the business environment, and the competition may be affected by patents, franchises, foreign competition, location, and the like. of necessity, this book focuses on principles common to all businesses and does not discuss the specific items that distinguish your business from other businesses. For example, this post doesn’t discuss how to price your products to meet your competition; I assume that you have enough knowledge about your chosen business to answer that question.
The Indian rupee (sign: ₹; code: INR), is the official currency of the Republic of India. The Indian one rupee is equal to 100paise (like singular paisa). In India, only the 50paisa remains legal in 2016. The issuance of the currency is controlled by the Reserve Bank of India. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. The Indian Rupee is named after the silver coin, Rupiya, first rupee issued by Sultan Sher Shah Suri in the 16th century & later continued by the Mughal Empire.
Indian rupees symbol was officially Changed In 2010, a new symbol ‘₹‘. It was derived from the combination of the Devanagari consonant “र” (RA) and the Latin capital letter “R” without its vertical bar (similar to the R rotunda). The parallel lines at the top (with white space between them) are said to make an allusion to the tricolor Indian flag. An equality sign that symbolizes the nation’s desire to reduce economic disparity. The first series of coins with the new rupee symbol started in circulation on 8 July 2011.
Indian Rupee Exchange to other Country Currency
1 Indian Rupee equals
0.015 US Dollar
0.020 Australian Dollar
0.012 British Pound
0.014 Euro
Indian Rupee Exchange to other Country Rupee
1 Indian Rupee equals
1. 0.53 Mauritian Rupee
1.60 Nepalese Rupee
1.54 Pakistani Rupee
0.20 Seychellois Rupee
History of Indian Rupee
The history of the Indian rupee traces back to Ancient India in circa 6th century BCE, ancient India was one of the earliest issuers of coins in the world, along with the Chinese wen and Lydian staters.
During his five-year rule from 1540 to 1545, Sultan Sher Shah Suri issued a coin of silver, weighing 178 grains (or 11.53 grams), which was termed the Rupiya. The silver coin remained in use during the Mughal period & Maratha era as well as in British India. Among the earliest issues of paper rupees include; the Bank of Hindustan (1770–1832), the General Bank of Bengal and Bihar (1773–75, established by Warren Hastings), and the Bengal Bank (1784–91).
Indian Rupees Per Currency unit averaged over the Year
Currency
ISO code
1947
1966
1995
1996
2000
2004
2006
2007
2008
2009
2010
2013
2014
2015
2016
Australian dollar
AUD
27.69
26.07
33.28
34.02
34.60
36.81
38.22
42.00
56.36
54.91
48.21
49.96
Bahraini Dinar
BHD
–
164.55
170.6
178.3
Bangladeshi taka
BDT
–
–
0.84
0.84
0.77
0.66
0.63
0.57
0.71
0.66
0.68
0.80
0.88
0.84
0.85
Canadian dollar
CAD
26.00
30.28
34.91
41.09
42.92
44.59
52.17
49.53
47.94
52.32
Chinese Yuan
CNY
–
5.80
9.93
10.19
10.15
Emirate dirham
AED
–
–
17.47
18.26
Euro
EUR
–
–
44.40
41.52
56.38
64.12
68.03
60.59
65.69
70.21
72.60
75.84
Israeli shekel
ILS
13.33
21.97
11.45
10.76
10.83
17.08
16.57
17.47
Japanese Yen
JPY
1015.5
1.76
32.66
32.96
41.79
41.87
38.93
35.00
42.27
51.73
52.23
60.07
57.79
53.01
62.36
Kuwaiti Dinar
KWD
–
17.80
115.5
114.5
144.9
153.3
155.5
144.6
161.7
167.7
159.2
206.5
214.3
213.1
222.4
Malaysian Ringgit
MYR
–
18.59
18.65
16.47
16.37
Maldivian rufiyaa
MVR
1.00
1.33
2.93
2.91
4.58
4.76
5.01
5.23
Pakistani rupee
PKR
1.00
1.33
1.08
0.95
0.80
0.77
0.75
0.67
0.61
0.59
0.53
0.57
0.60
0.62
0.64
Pound sterling
GBP
13.33
17.76
51.14
55.38
68.11
83.06
80.63
76.38
71.33
83.63
70.63
91.08
100.51
98.11
92.00
Russian rubled
RUB
6.60
15.00
7.56
6.69
1.57
1.05
0.99
Saudi riyal
SAR
1.41
17.11
17.88
Singapore dollar
SGD
–
–
23.13
25.16
26.07
26.83
30.93
33.60
34.51
41.27
33.58
46.84
45.86
46.67
48.86
Sri Lankan rupee
LKR
1.33
0.63
0.64
0.58
0.47
0.46
0.45
0.46
Swiss franc
CHF
1.46
27.48
43.95
66.95
66.71
66.70
68.40
U.S. dollar
USD
3.30
7.50
32.45
35.44
44.20
45.34
43.95
39.50
48.76
45.33
45.00
68.80
66.07
66.73
67.19
Note: All Countries Currency exchange rate into Indian rupees, 28 December 2016.
Highest currency 2016;What is Currency? A currency (from Middle English: currant, “in circulation”, from Latin: Currens, -Entis) in the most specific use of the word refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins. A more general definition is that a currency is a system of money (monetary units) in common use, especially in a nation. Under this definition, US dollars, British pounds, Australian dollars, and European euros are examples of currency. These various currencies recognize stores of value and trade between nations in foreign exchange markets; which determine the relative values of the different currencies. Also, Currencies in this sense defines by governments, and each type has limited boundaries of acceptance.
Here is the article to explain, Most Highest Currency or Currencies Value in 2016!
Other definitions of the term “currency” discuss in their respective synonymous articles banknote, coin, and money. Also, The latter definition, about the currency systems of nations, is the topic of this article. Currencies can be classified into two monetary systems: fiat money and commodity money, depending on what guarantees the value (the economy at large vs. the government’s physical metal reserves). Some currencies are legal tender in certain political jurisdictions; which means they cannot refuse as payment for the debt. Others simply traded for their economic value. Also, Digital currency has arisen with the popularity of computers and the Internet.
Most Highest Currencies Value in 2016:
Rank
Country Name
Currency Name
1
Kuwait
Kuwaiti Dinar (KWD)
2
Bahrain
Bahraini Dinar (BHD)
3
Oman
Omani Rial (OMR)
4
United Kingdom
British Pound (GBP)
5
European Union
Euro (EUR)
6
Switzerland
Swiss Franc (CHF)
7
Libya
Libyan Dinar (LYD)
8
Brunei
Bruneian Dollar (BND)
9
Singapore
Singapore Dollar (SGD)
10
Australia
Australian Dollar (AUD)
Kuwaiti Dinar (KWD):
The Kuwaiti dinar (Arabic: دينار, code: KWD) is the currency of Kuwait. It sub-divides into 1,000 files. Also, The Kuwaiti dinar is the world’s highest-valued currency unit.
20th Dec. 2016 Value of Currency as dollar One Kuwaiti dinar buys US$3.26.
Bahraini Dinar (BHD):
The dinar (Arabic: دينار Dīnār Baḥrēnī) (sign: .د.ب or BD; code: BHD) is the currency of Bahrain. It divides into 1000 fils (فلس). The name dinar derives from the Roman denarius. The dinar was introduced in 1965, replacing the Gulf rupee at a rate of 10 rupees = 1 dinar. Also, The Bahraini dinar abbreviates .د.ب (Arabic) or BD (Latin). It usually represents three decimal places denoting the files.
20th Dec. 2016 Value of Currency as dollar One Bahraini dinar buys US$2.65.
Omani Rial (OMR):
The rial (Arabic: ريال, ISO 4217 code OMR) is the currency of Oman. It divided into 1000 baisa (also written baiza, بيسة).
20th Dec. 2016 Value of Currency as dollar One Omani rial buys US$2.60.
British Pound (GBP):
A pound is a unit of currency in some nations. The term originated in Great Britain as the value of a pound (weight) of silver. The English word pound is cognate with, among others, German Pfund, Dutch pond, and Swedish pound. All ultimately derive from a borrowing into Proto-Germanic of the Latin expression lībra pondō (“a pound of weight”), in which the word pondō is the ablative case of the Latin noun pondus (“weight”). The English word “pound” first referred to a unit of mass or weight; the monetary pound originated as a pound (by weight) of silver.
The currency’s symbol is £, a stylized representation of the letter L, standing for livre or lira. Historically, £1 worth of silver coins was a troy pound in weight; in August 2016 this amount of silver was worth approximately £170 sterling. Today, the term may refer to several (primarily British and related) currencies and a variety of obsolete currencies. Some of them, those officials in former Italian states and countries formerly belonging to the Ottoman Empire, called pound in English, while in the local languages their official name is lira.
20th Dec. 2016 Value of Currency as dollar One British pound buys US$1.23.
Euro (EUR):
The euro (sign: €; code: EUR) is the official currency of the eurozone, which consists of 19 of the 28 member states of the European Union: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain. The currency is also officially used by the institutions of the European Union and four other European countries; as well as unilaterally by two others and is consequently used daily by some 337 million Europeans as of 2015. Outside of Europe, several overseas territories of EU members also use the euro as their currency.
20th Dec. 2016 Value of Currency as dollar One euro buys US$1.04.
Swiss Franc (CHF):
The franc (sign: Fr. or SFr. or FS; German: Franken, French, and Romansh: franc, Italian: franco; code: CHF) is the currency and legal tender of Switzerland and Liechtenstein; it is also legal tender in the Italian exclave Campione d’Italia. Also, The Swiss National Bank (SNB) issues banknotes, and the federal mint Swissmint issues coins.
The smaller denomination, a hundredth of a franc, is a Rappen (Rp.) in German, centime (c.) in French, centesimo (ct.) in Italian, and rap (RP.) in Romansh. The ISO code of the currency used by banks and financial institutions is CHF, although “Fr.” uses by most businesses and advertisers; some use SFr.; the Latinate “CH” stands for Confoederatio Helvetica. Given the different languages used in Switzerland, Latin uses for language-neutral inscriptions on the coins.
20th Dec. 2016 Value of Currency as dollar One Swiss Franc buys US$0.97.
Australian Dollar (AUD):
The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru, and Tuvalu. Within Australia, it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used to distinguish it from other dollar-denominated currencies. Also, It is subdivided into 100 cents.
20th Dec. 2016 Value of Currency as dollar One Australian Dollar buys US$0.72.
Libyan Dinar (LYD):
The dinar (Arabic: دينار) is the currency of Libya. Its ISO 4217 code is “LYD”. The dinar is subdivided into 1000 dirham (درهم). It was introduced in September 1971 and replaced the pound at par. It is issued by the Central Bank of Libya, which also supervises the banking system and regulates credit. In 1972, the Libyan Arab Foreign Bank was established to deal with overseas investment. Ali Mohammed Salem, deputy governor of Central Bank of Libya stated the exchange rate of Libyan dinar would be pegged to special drawing rights for one to three years, according to an interview with Reuters on 27 December 2011.
20th Dec. 2016 Value of Currency as dollar One Libyan Dinar buys US$0.70.
Singapore Dollar (SGD):
The Singapore dollar (Malay: Ringgit Singapura, sign: $; code: SGD) is the official currency of Singapore. Also, It is normally abbreviated with the dollar sign $, or S$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents.
The Monetary Authority of Singapore and the Monetary Authority of Brunei Darussalam (Autoriti Monetari Brunei Darussalam) still maintain the historic exchangeability of their two currencies, the Singapore dollar, and the Brunei dollar, respectively. The Singapore dollar is accepted as “customary tender” in Brunei according to the Currency Interchangeability Agreement. Likewise, the Brunei dollar is customarily accepted in Singapore.
20th Dec. 2016 Value of Currency as dollar One Singapore Dollar buys US$0.69.
Bruneian Dollar (BND):
The Brunei dollar (Malay: ringgit Brunei, currency code: BND), has been the currency of the Sultanate of Brunei since 1967. It is normally abbreviated with the dollar sign $, or B$ to distinguish it from other dollar-dominated currencies, It is divided into 100 sen (Malay) or cents (English).
The Brunei dollar is managed together with the Singapore dollar at a 1:1 ratio by the Monetary Authority of Singapore (MAS). Also, Singapore is one of Brunei’s major trading partners.
20th Dec. 2016 Value of Currency as dollar One Bruneian Dollar buys US$0.50.
Discover the key features of the Income Tax Act 1961. Get insights into the provisions for exemptions, deductions, rebates, and reliefs.
Income Tax Explained: Key Concepts and Regulations
The Income Tax Department functions under supervision and control of the Central Board of Direct Taxes (CBDT). It has around 60,000 personnel located in more than 500 cities and towns across the country. The field offices are divided into regions, and each region is headed by a Chief Commissioner of Income Tax. Every region is assigned annual performance targets, such as revenue collections, and is provided with necessary expenditure budget to meet its operating expenses. Right to Information
The Income Tax Act 1961 lays down the framework or the basis of charge and the computation of total income of a person. It also stipulates the manner in which it is to be brought to tax, defining in detail the exemptions, deductions, rebates and reliefs. The Act defines Income Tax Authorities, their jurisdiction and powers It also lays down the manner of enforcement of the Act by such authorities through an integrated process of assessments, collection and recovery, appeals and revisions, penalties and prosecutions. The Act is fast changing and dynamic in nature and undergoes amendments annually through the Finance Act.
It is a tax imposed by the government on the income earned by individuals and businesses within its jurisdiction. It is one of the primary sources of revenue for the government and is used to fund various public services and infrastructural development projects.
Types of Income Taxes
Individual Tax: Levied on the income of individuals. This includes wages, salaries, bonuses, and other forms of earnings.
Corporate Tax: Imposed on the profits of corporations and businesses.
Capital Gains Tax: Charged on the profit from the sale of assets or investments.
Payroll Tax: Deducted directly from an employee’s salary and used to fund social security and Medicare.
Inheritance Tax: Imposed on individuals who inherit estate or money following the death of the owner.
Economic Redistribution: Helps in redistributing wealth through progressive taxation systems.
Public Investments: Supports public infrastructure like roads, schools, and hospitals.
National Defense: Finances military and security forces.
Social Services: Ensures funding for social welfare programs such as unemployment benefits, pensions, and healthcare.
Advantages of Income Taxes
Revenue Generation: Provides a steady and substantial source of government funding.
Equitable Distribution: Progressive tax rates help in reducing income inequality.
Economic Stability: Government can influence economic growth and stability through tax policies.
Social Welfare: Enables the funding of essential public services and social programs.
Disadvantages of Income Taxes
Compliance Costs: Filing taxes can be complex and costly for taxpayers.
Evasion: High tax rates can lead to tax evasion and underreporting of income.
Economic Impact: High-income taxes can discourage entrepreneurship and investment.
Disincentives: High tax rates might reduce incentives to work harder or earn more.
In summary, while income taxes are essential for funding government operations and fostering economic stability, they come with their own set of challenges, including the potential for tax evasion and economic disincentives. Effective tax policy must balance these advantages and disadvantages to ensure fair and efficient taxation.
Why Do We Have To Pay Income Taxes?
They are fundamental to the functioning of modern governments and the provision of essential public services. Here are several reasons why we have to pay taxes:
Funding Government Operations:
They provide the primary source of revenue for the government, enabling it to finance its daily operations. This includes paying salaries for public employees, maintaining government buildings, and running various governmental departments.
Public Services:
The revenue from income taxes funds a wide range of public services that benefit society as a whole. This includes education, healthcare, public safety, transportation infrastructure, and social services like unemployment benefits and pensions.
National Defense:
Taxes are critical for funding a country’s defense and security. This includes the military, law enforcement agencies, and other national security operations.
Economic Stability:
They enables the government to manage economic stability and promote economic growth. By adjusting the tax rates and rebates, the government can influence spending and investment in the economy.
Distribution of Wealth:
Progressive income taxation helps in redistributing wealth more evenly across the society. It ensures that those who earn more contribute more to the public funds, which can be used to assist those with lower incomes.
Reduction of Fiscal Deficit:
They help in reducing the fiscal deficit, which is the difference between the government’s expenditures and its revenues. A lower fiscal deficit can lead to lower national debt and lower interest payments on that debt.
Public Investment:
They revenue is crucial for funding public investments in infrastructure, research and development, education, and other areas that are vital for long-term economic growth and development.
In summary, paying income taxes is a civic duty that supports the functioning and development of the country, ensuring everyone has access to basic amenities and contributing to the overall economic health and stability.
The process of Investment: An organized view of the investment process involves analyzing the basic nature of investment decisions and organizing the activities in the decision process. This process creates a strong yet flexible framework for our investment professionals to work together, sharing ideas and challenging each other’s views. It is constantly evolving and we continue to invest in the resources required to ensure it remains robust. Investment managers participate in our Investment process, from company visits and internal discussions to analyzing external broker research and assessing investment themes. The process informs their decisions but your requirements remain paramount. So, the question is – What is the Process of Investment? Explains.
The Concept is to Explain the Process of Investment.
The investment process governs by the two important facets of investment they are the risk and return. Therefore, we first consider these two basic parameters that are of critical importance to all investors and the trade-off that exists between expected return and risk.
Given the foundation for making investment decisions the trade-off between expected return and risk- we next consider the decision process in investments as it is typically practiced today. Although numerous separate decisions must be made, for organizational purposes, this decision process has traditionally been divided into a two-step process: security analysis and portfolio management. Security analysis involves the valuation of securities, whereas portfolio management involves the management of an investor’s investment selections as a portfolio (package of assets), with its unique characteristics.
Security Analysis:
Traditional investment analysis, when applied to securities, emphasizes the projection of prices and dividends. That is, the potential price of a firm’s common stock and the future dividend stream are forecasted, then discounted back to the present. This intrinsic value is then compared with the security’s current market price. If the current market price is below the intrinsic value, a purchase recommendation, and if vice versa is the case sale recommend.
Although modern security analysis is deeply rooted in the fundamental concepts just outlined, the emphasis has shifted. The more modern approach to common stock analysis emphasizes return and risk estimates rather than mere price and dividend estimates.
Portfolio Management:
Portfolios are combinations of assets. In this text, portfolios consist of collections of securities. Traditional portfolio planning emphasizes the character and the risk-bearing capacity of the investor. For example, a young, aggressive, single adult would advise buying stocks in newer, dynamic, rapidly growing firms. A retired widow would advise purchasing stocks and bonds in old-line, established, stable firms, such as utilities.
Modern portfolio theory suggests that the traditional approach to portfolio analysis, selection, and management may yield less than optimum results. Hence a more scientific approach needs, based on estimates of risk and return of the portfolio and the attitudes of the investor toward a risk-return trade-off stemming from the analysis of the individual securities.
Characteristics of Investment:
The characteristics of investment can understand in terms of as:-
Return,
Risk,
Safety,
Liquidity etc.
Now, explain;
Return:
All investments characterize by the expectation of a return. Investments are made with the primary objective of driving return. The expectation of a return may be from income (yield) as well as through capital appreciation. Capital appreciation is the difference between the sale price and the purchase price. The expectation of return from an investment depends on the nature of the investment, maturity period, market demand and so on.
Risk:
The risk is inherent in any investment, the risk may relate to the loss of capital, delay in repayment of capital, nonpayment of return or variability of returns. The risk of an investment is determined by the investments, maturity period, repayment capacity, nature of return commitment and so on.
Risk and expected return of investment are related. Theoretically, the higher the risk, the higher the expected return. The higher return is compensation expected by investors for their willingness to bear a higher risk.
Safety:
The safety of investment identifies with the certainty of the return of capital without loss of time or money. Safety is another feature that an investor desires from investments. Also, Every investor expects to get back the initial capital on maturity without loss and delay.
Liquidity:
An investment that is easily scalable without loss of money or time says to be liquid. A well-developed secondary market for security increases the liquidity of the investment. An investor tends to prefer maximization of expected return, minimization of risk, the safety of funds and liquidity of the investment.
Investment categories:
Investment generally involves a commitment of funds in two types of assets:
Real assets
Financial assets
Realassets:
Real assets are tangible material things like building, automobiles, land, gold, etc.
Financialassets:
Financial assets are a piece of paper representing an indirect claim to real assets held by someone else. These pieces of paper represent debt or equity commitment in the form of IOUs or stock certificates. Also, investments in financial assets consist of – Securities (i.e. security forms of) investment Non-securities investment.
The term ‘securities’ used in the broadest sense, consists of those papers which quote and are transferable.
Under section 2 (h) of the Securities Contract (Regulation) Act, 1956 (SCRA) ‘securities’ include:
Shares., scrip’s, stocks, bonds, debentures, debenture stock or other marketable securities of a like nature in or of any incorporated company or another body corporate. Government securities. Such other instruments may declare by the central Government as securities, and, iv) Rights of interests in securities.
Therefore, in the above context, security forms of investments include Equity shares, preference shares, debentures, government bonds, Units of UTI and other Mutual Funds, and equity shares and bonds of Public Sector Undertakings (PSUs). Non-security forms of investments include all those investments, which are not quoted in any stock market and are not freely marketable. viz., bank deposits, corporate deposits, post office deposits, National Savings and other small savings certificates and schemes, provident funds, and insurance policies.
Another popular investment in physical assets such as Gold, Silver, Diamonds, Real estate, Antiques, etc. Indian investors have always considered the physical assets to be very attractive investments. Also, there are a large number of investment avenues for savers in India.
Some of them are marketable and liquid, while others are non-marketable, Some of them are highly risky while some others are almost risking less. The investor has to choose proper avenues from among them, depending on his specific need, risk preference, and return expectation. Learning is best things, How to Earn a Profit process of investment?
Investment avenues can be broadly categorized under the following heads:
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