Why Is Accounting So Important?

Starting a business often requires entrepreneurs to understand and complete a variety of business functions. An important business function when starting a small business is accounting. Although many entrepreneurs may be fearful of dredging through endless stacks of financial documents, accounting often provides entrepreneurs with the clearest picture of their business' success. Entrepreneurs must also keep copious amounts of records regarding the small business startup for tax and legal purposes.

Asking that question of an accountant is like asking a farmer why we need rain.  We need accounting because it’s the only way for business to grow and flourish.  Accounting is the backbone of the business financial world.   After all, accounting was created in response to the development of trade and commerce during the medieval times.
 

Italy is our first recorded source for accounting entries, and the first published accounting work in 1494 was by a Venetian monk.  So you see accounting as an organized method for record-keeping has been around almost as long as the trade and business industries.  Another interesting fact is the knowledge and principles upon which the first accounting practices were established, have changed very little in the many hundreds of years that accounting has been in use.  The concepts of assets, liabilities, and income and the need to reconcile these areas is still the basis for all accounting functions today.

Benefits & Problems With Franchising

The decision to sell franchises of a business is one that should not be taken lightly. Although there are many benefits to franchising, there are also many problems that can develop. Before deciding to take on franchisees, it is vital to understand the benefits and potential problems associated with franchising a business.

Benefit: Expansion and Growth

• Perhaps the main benefit of franchising a business is the growth potential. The business can grow quickly with lower capital requirements. The franchisees are typically responsible for rent, construction costs and other expenses necessary to open a business. The company benefits from new stores without the associated costs.

Licensing Vs. Franchising

There are two type of business you can choose either franchising or licensing but both of it mostly are similar in term of royalty and fees.  Choosing between franchising and licensing depends on the type of business, available start-up capital and the amount of creative control desired by a business owner. Also, how close a relationship an owner wants with a parent company should be considered.

Franchise Systems Definition

Franchise, some people know but not well-know and some have heard about it but not much know about it. So, we will talk about this business system. Franchise systems are the protocols and processes that a franchiser makes available to franchisees as part of their franchising agreement. According to Scott Shane of the Sloan School of Management in Massachussetts, franchise systems are most successful when they make economical use of an organization's resources. In other words, franchising systems should enable a franchisee to operate his company cost effectively.

Company Secretary in Malaysia

Secretary, what you know about secretary??? It is a women with skirt and sexy???What i want to tell you now is a company secretary. Every company is required by statute to have at least one company secretary or more in Malaysia. Who can be company secretary??? The person which are a members of professional bodies such as:
1. The Malaysian Association of the Institute of Chartered Secretaries and Administrators (MAICSA)
2. The Malaysian Institute of Accountants (MIA)
3. The Malaysian Institute of Certified Public Accountants (MICPA)
4. The Malaysian Bar
5. The Sabah Law Association
6. The Advocates' Association of Sarawak
7. The Malaysian Association of Company Secretaries (MACS)
and also the person licensed by Commissioner of Company Malaysia (CCM) under Section 139 Companies Act 1965.

The secretary is to be appointed by the board of directors and either himself or his agent or clerk is required to be present at the registered office of the company on the days and at the hours which the registered office is to be accessible to the public.In most cases it is not practical for most small medium enterprises to engage full time secretaries. Instead, the service of an external secretary of a professional secretarial firm is engaged.

What are the general duties and responsibilities of company secretaries?
The duties and responsibilities of company secretaries depend mainly on the expectations of the board of directors. In most cases, the company secretary is responsible to ensure compliance with the disclosure and information requirements of the Companies Act.

These are some of the main duties of a company secretary:

1. Organise meetings

2. Send out notices for meetings

3. Take down minutes of board and general meetings

4. File statutory returns (in the prescribed forms) required by the Companies Act 1965 with the Companies Commision of Malaysia

5. Keep and maintain the various registers at the registered office of the company.

Duties of Directors

A company is a separate legal entity, separate and distinct from its individual members/shareholders.  For small company normally members of the company become the Director. Members of the company will appoint directors (members or outsider) who will be entrusted with the power and authority to make decisions for the running of the company and manage the company's affairs.

For many small businesses, members of the company who have come up with their own capital to fund their businesses are often involved in the day-to-day management of the company. These members usually appoint themselves to be the directors of the company.

For larger businesses such as public listed companies, it is practically impossible for the shareholders to manage the company's affairs and therefore directors are empowered to operate the company.

What are the requirements of directors of a company?

There must be at least 2 directors who each have his/her principal or only place of residence within Malaysia, whether he/she are Malaysian or not.

To qualify to become a director of a company, he must be:

1. A natural person
2. Of full age (18 years old and above)
3. Of sound mind
4. Not disqualified under the Companies Act 1965

Directors are not required by law to have special knowledge, or experience to act in that capacity.

Start Up Business in Malaysia

Do you need to set up a company to start up business in Malaysia?

Businesses in Malaysia are required to be carried out by either these two types of business organisations:

1. Business firms (governed under Registrar of Business Act 1956)

2. Registered companies (governed under Companies Act 1965)

Start up Business in Malaysia - What is a business firm?

Business firms can be either of these two types:

1. Sole proprietor/ Sole trader - Sole proprietor is a business carried out in the name of an individual.

2. Partnerships (governed by Partnership Act 1961) - Partnership is a business owned by two or more individuals.

Both these types of business firms have no separate legal existence apart from the persons who owns the business and properties cannot be held under the name of the business firms. All contracts are signed in the name of the individuals who own the business and their liability is unlimited.

Ramly Burger- The Fact and The Truth

Ramly Burger does not need introduction for Malaysians, and the popularity of the Ramly brand itself eclipses its very own creator, Ramly Mokni. Ramly is the guy who has almost single-handedly changed the way how burgers are commercialized via the 'gerai' concept. The  concept most of the people may said it impossible to be rich and far away to be millionaire but the truth is he proved it to the Malaysian people and around the globe by created his own history.  Some people say that this concept of business is just only suitable to people who are not graduate. Yes, i agree with that but the point is the opportunity can be see by opportunist person than create it become income. It those not matter who you are or which education you have.  

　

7 Critical Business Success Factors

Each business has its own unique combination of critical success factors, but some are important for all businesses. Here's my list for the millennium year.

1. Identify and implement the technology needed to support your business and its growth. You can't afford to ignore technology. It can reduce manpower needs, increase efficiency, reduce overall costs and create the means to reach new markets, add new products and significantly improve your bottom line. The key is to know the technology that makes a difference for your business and not to take on technology for its own sake.
2. Use the skills and resources of others to open growth opportunities and provide support outside the core mission of your business. The virtual nature of today's business means that you can tap into resources that previously would have to be purchased through capital expenditure, employee commitments or long-term arrangements. What you can't provide through core capabilities can probably be better and more efficiently provided through strategic alliances where each alliance partner realizes a benefit from working together.

Tips to Startup Entrepreneurs

Starting a business is scary in any economic climate. You’re putting yourself on the line – your ideas, sweat, capital, time, and relationships – in the hope that your gamble of starting a business will pay off.What do you need to succeed in business? Experts say that you need to have loads of persistence, passion, and hard work – and yes, luck. But there’s really no single winning formula that can guarantee the success of your business. You have just to do it, and do it right.

I’ve collected some of the tips given on books and internet, as well as from other experts and authors, on what a startup entrepreneur needs to do to increase chances for success. Here are the initial 25 tips:

How to Trade Stock : Investing Basic

Some people said that the share market is the good investment. It is true and can be prove it but it not for the short-term which mean buy and sell it in the same day, week or month. But some people play it very well, with knowledge and analysis than you can play such way. If you don’t have those capabilities, just forget it. It so risky, but all the risk only we call it paper lost or paper profit unless you sell it at lower prize. Herewith the basic thing before you get involved in the stock market in Malaysia.  

Do you qualify to trade at Bursa Malaysia?
You have to be at least 18 years old. If not, wait until your 18th birthday.

Gold Investment

Al Rajhi Bank, the world's largest Islamic bank move a step further by introducing new schemes, Al Rajhi Gold-i, which allows customers to invest in physical gold, which is more safe and secure.Bank retail director, said Sabry Ghouse, gold investments have proven to thousands of years ago as an investment medium and have an important role to protect the real value of money, especially when the economy is uncertain.

They are offering real value of the transaction of the type of 999.9 pure gold from Switzerland to the customer will benefit from real investment to cover minimal risk for a variety of property and possession of a single investment."In addition, this scheme has advantages such as trading cash conversion, secure storage and Takaful protection for all the gold is stored," he said at a press conference in Kuala Lumpur yesterday (27th day of April 2011).

Where Come Facebook Income???

Today, Facebook become a phenomena to the people in the world. Every thing updated on FB such as your condition, your opinion, picture and so forth. To us is free but to FB is an advantage because it create the strength of it social website compare to their competitors. Do you know where come the Facebook income???what is their revenue???then this is the story, read it and imagine it.

Most of Facebook's revenue comes from advertising. Microsoft is Facebook's exclusive partner for serving banner advertising, and as such Facebook only serves advertisements that exist in Microsoft's advertisement inventory. According to comScore, an internet marketing research company, Facebook collects as much data from its visitors as Google and Microsoft, but considerably less than Yahoo!. In 2010, the security team began expanding its efforts to reduce the risks to users' privacy. On November 6, 2007, Facebook launched Facebook Beacon, which was an ultimately failed attempt to advertise to friends of users using the knowledge of what purchases friends made.

Facebook generally has a lower clickthrough rate (CTR) for advertisements than most major websites. For banner advertisements, they have generally received one-fifth the number of clicks on Facebook compared to the Web as a whole. This means that a smaller percentage of Facebook's users click on advertisements than many other large websites. For example, while Google users click on the first advertisement for search results an average of 8% of the time (80,000 clicks for every one million searches),Facebook's users click on advertisements an average of 0.04% of the time (400 clicks for every one million pages).

New Business Channel "Drop Shipping"

Drop shipping is a supply chain management technique in which the retailer does not keep goods in stock, but instead transfers customer orders and shipment details to either the manufacturer or a wholesaler, who then ships the goods directly to the customer. As in all retail businesses, the retailers make their profit on the difference between the wholesale and retail price.

The converse of drop shipping is will call, where a customer picks up directly from a wholesaler, rather than via a retail shop.Affiliate marketing can also be compared to drop shipping. As with drop shipping, affiliate marketing allows a website to list an item for sale that is not on hand but rather is shipped through a third party.

Franchising Vs. Starting Your Own Business

Individuals looking to start small businesses may also consider franchising opportunities. A franchise agreement allows a business owner to use the name, likeness and products of an existing business chain. Both starting a new business and opening a franchise both carry specific advantages and disadvantages.

Advantages of Franchising

o     Buying a franchise allows a company owner to use an already successful corporate model and product, rather than coming up with her own for a new business. Additionally, franchise owners receive support and guidance from the "franchisor," or parent company, in the opening and operation of their business. Also, many franchisors provide start-up financing for business owners who purchase franchises. According to the International Franchise Association, franchises also have a higher long-term success rate than independent businesses.

Facebook Invasion up

Often hear the invasion of the accounts of the social website Facebook. How to use it safely? Recently, the use of social web sites up to one important cultural life. It is not only confined to personal use, but used as a tool of information technology for communication between customers with sales agencies, citizens and government, with students and other lecturers.

Reach through the Internet is not limited to the use of personal computers, fixed line connection. In fact, with the advent of tools powerful mobile communications at a low price, such as tablet computers, laptops, netbooks and smart phones capable of reaching up through the online web site wireless Internet. Time, tools and place is no longer a major constraint to achieving them.

Thus, the social networking site Facebook can be accessed at any and at any time. In fact, there are shops or certain parties who provide wireless Internet access is free via Wifi technology. Wireless Internet access is actually inviting some of the problems the invasion of the accounts on the website up. This is because the data or information 'flying' in the air and anyone able to pick it includes important data such as login and password.
In addition computer programs for the purpose of aggression is quite easy to get on the Internet and easy to use.

Ebook and Business

The book with thick, heavy and expensive now become smaller, lighter and cheaper. However, changes in the larger and significant for book lovers today is the existence of "electronic" or Ebook. It comes in various types and formats (Adobe Digital Editions, Microsoft Reader, eReader and DRMFree PDF) and can be found easily on the Internet for purchase, download and then read the appropriate digital devices. Ebook become an increasingly popular media lately.

An electronic book (also e-book, ebook, digital book) is a text and image-based publication in digital form produced on, published by, and readable on computers or other digital devices. Sometimes the equivalent of a conventional printed book, e-books can also be born digital. The Oxford Dictionary of English defines the e-book as "an electronic version of a printed book," but e-books can and do exist without any printed equivalent. E-books are usually read on dedicated hardware devices known as e-Readers or e-book devices. Personal computers and some cell phones can also be used to read e-books.

Among the earliest general e-books were those in Project Gutenberg, in 1971. One early e-book implementation was the desktop prototype for a proposed notebook computer, the Dynabook, in the 1970s at PARC: a general-purpose portable personal computer capable of displaying books for reading. Early e-books were generally written for specialty areas and a limited audience, meant to be read only by small and devoted interest groups. The scope of the subject matter of these e-books included technical manuals for hardware, manufacturing techniques and other subjects. In the 1990s, the general availability of the Internet made transferring electronic files much easier, including e-books.

Prediction of five (5) years Ebook by Forrester Inc. recently showed that the Ebook industry will experience rapid growth for several years to come. In 2010 the last $ 966 million Ebook was sold and by 2015 is expected to surge to $3 billion of the money will be spent on Ebook (Ani Nadila Yusof, Majalah PC, Edition 172). 

Impact of Internet Banking to Business

Today, technology has contributed so much to change the manner and method in dealing with businessmen operating in other words "business to business (B2B). It also affects the service, changing the way service delivery. This belief has lead to the use of "self-service technology" (SSTS) is a great impact on B2B relationships.

Dealers increasingly using technology in the "business-to-business" operations are therefore of interest to know and understand the impact of this technology for communication, the process of involving and productivity. Challenges of the increasing use of SSTS in B2B relationships to change the "face-to-face" who said the traditional method of forming relationships or services between the two organizations.

Minisites Vs Authority sites

Do you need to create authority sites or mini sites for your marketing efforts? Both types of sites have their own pros and cons. Keep in mind that there is no rule that states you must choose only one. You could enjoy unique benefits from each one. Sometimes the choice as to which is better suited for you will come down to a simple matter of preference. If the whole debate has you wondering which one to go with, then your best option is to learn more about each one. After you have a good base of knowledge, then you will easily be able to make a decision.What it really comes down to, however, is your own personality and your long term goals for your business. What follows is a comparison of mini sites and authority sites, which can help anybody who's trying to choose between the two.