History of AccountingBeyond Luca PacioliIn 1543, it is believed that the first book on accounting to be published in English was by John Gough. Entitled Debtor and Creditor, it was portrayed as A Profitable Treatyce.In 1588, John Mellis of Southwark published a book which consisted of a series of instructions based on accounting principles. He refers to the fact that his book makes use of ancient copies of a manuscript printed in August 1543 by a...more
The price of properties has fallen drastically since the advent of the credit crunch.The main effect was found in the mortgage and secured loan markets.Secured home loans require the security of the bricks and mortar value of a property, and they depend to a large extent on property value.In addition to property prices decreasing the number of secured loans and remortgages available, the underwriting criteria of mortgage and secured loan lenders...more
For the married couple, it is truly essential that an estate is properly structured, legally protected, and the disposition of assets in the case of separation clearly defined. If you have not yet started a trust for your assets as a property investor, perhaps this scenario will convince you of the need to do so.The Case of the Trust-Less DivorceIn most cases, divorce is a messy matter. It is highly unlikely that the two parties will be able to reach an amicable agreement as to the disposition of assets. Even with a trust, in the absence of a Property Relationship Agreement a legal battle may ensue because there is still the issue of what to do with the assets in the trust.Of course, the first step will be hiring a lawyer for each side. As we all know, legal fees can quickly add up to thousands of dollars. Consider the property investors who have a $500,000 house listed as an asset. Is a combined $100,000 in legal fees worth the argument? It may not make much sense, but this is what many couples end up doing - paying money to fight over a property that is still mortgaged.Then again, during a divorce few people are going to act rationally. More often than not they are hurt, and...more
When financial woes hit a married couple the unfortunate outcome is often a divorce. Of course, this means the division of assets, along with the usual amount of bickering over that division. But if those assets are in a trust, what happens?The Creation of the TrustFor the property investor or any other type of investor, a trust is always...more
Here are 5 signs that you either have a major debt problem on your hands, or you are headed in that direction:1. You have no clue how much total debt you have. A sure sign that you are either in trouble, or are on the brink, is not knowing how much debt you have outstanding. Odds are you are either ignoring your debt problem for fear of how big...more
If you are going through the ordeal of a foreclosure on your home, you will need stop foreclosure help right away. Stop foreclosure help can come in many forms for the homeowner. A homeowner can seek the help from a lawyer or foreclosure investigator, file for bankruptcy or talk with their lender about working out some sort of deal where both parties benefit. In the following article, we will discuss how you can obtain aid from your lender to adjust your mortgage or another agreement that both parties are happy about.If you want help from your lender, it is wise that you prepare how you state your case to them. With a strong and practical case, most lenders will be happy to find a compromise. There has been an increase in foreclosures lately and lenders are becoming more willing to come to an agreement rather than foreclose on a home. Negotiating with your lender is not just great stop foreclosure help. You may be able to come to an agreement with your lender about adjusting your mortgage contract, which can be quite beneficial. The lender could adjust your mortgage contract by lowering your interest rates or the amount of time in which you have to pay off the loan. In...more
The UK economy has rarely been so seriously bad.The UK has only previously been in such financial crisis when at war.It was to be hoped that the Budget this week might contain some little gems that would help the recovery but unfortunately this was...more
Anyone who has a poor credit rating will find that obtaining credit is very difficult. These people are seen as a large risk by companys who offer credit. However many people with bad credit still want to have a credit card to make purchases. Whilst...more
When you decide to get a credit card your first instinct might be to go straight to whoever you bank with and enquire about their credit cards. At one point this was virtually the only way of getting a credit card for the majority of people, but it...more
There are certain things in life that no one really looks forward to doing. These are the things that seem to take forever to accomplish and are not very interesting. Searching for the right credit card is one of those things, but it really needs to...more
Debts can sometimes become messy and further settling them can become a headache especially when your financial structure is not supportive. If you are drowned with huge loans to repay and your business running in loss, the options reduce faster than...more
Debt relief companies are a blessing disguise when we consider their services. The millions of people who have already overcome the tight situation of encountering with the banks can better explain the tremendous job they have been doing. You have...more