The Decision to Re-Finance

The decision to re-finance a home mortgage is a serious decision which should not be taken lightly. Homeowners should give this decision a great deal of consideration to ensure they are making the best possible decision for their financial situation and personal needs. Some factors to consider when deciding whether or not to re-finance is the type of loan to choose, the lender to choose, the costs associated with re-financing and the hassle of the process.

Consider All of the Options
Homeowners who are seriously considering re-financing owe it to themselves to consider all of the options available to them. They may have a friend who recently refinanced with a specific type of loan but this might not be the solution for all homeowners. Each homeowner should consider their situation to be individual and not likely to closely mirror the situations of others.

Some of the options to consider include the type of re-financing loan. The basic options are fixed interest rates and adjustable interest rates. There are also mortgages which combine these two options. The homeowner may have a specific type of mortgage in mind but the lender may or may not be willing to offer the homeowner this type of loan. Lenders are more likely to offer fixed interest mortgages to homeowners with good credit and adjustable rate mortgages to homeowners with poor credit.

Consider the Lender
Homeowners will also have to carefully consider the lender they select. This is important because not all lenders are going to be willing to offer the same interest rates and terms to the homeowner. Homeowners may have to receive quotes from several different lenders in a short period of time to make an accurate comparison. This is important because interest rates can change without notice and homeowners who wait too long to make a decision may find the rate they were originally quoted is no longer available to them.

When selecting a lender the homeowner should also consider how responsive the lender is to their questions. This is important because a lender who does not pay attention to the homeowner or respond to their inquiries in a timely fashion can make the process of re-financing considerably more stressful than necessary. Selecting a lender who offers slightly higher rates but is more responsive may be warranted.

Consider the Cost of Re-Financing
Re-financing is not cheap. There are certain costs associated with re-financing. These costs are typically very similar to the closing costs associated with securing an original mortgage on a property. These costs may include application fees, loan origination fees, property taxes, appraisal fees and other miscellaneous items. These costs can be quite extensive and homeowners may find they are often left paying more than the benefits they are going to gain from re-financing. In this type of situation the homeowner should make the decision not to re-finance because it is not a financially sound decision.

Consider the Hassle of Re-Financing
Let’s face it; re-financing can be an absolute hassle. The time and energy spent researching different re-financing options and contacting lenders to see who will offer the most favorable rates can be quite taxing. A homeowner should consider the time and effort required for this endeavor in deciding whether or not to re-finance. Simply stated, refinancing is a hassle and homeowners may better spend their time with family and friends rather than running around trying to find the best rates in town.

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Profit and Loss

It might seem like a no-brainer to define just exactly what profit and loss are. But of course these have definitions like everything else. Profit can be called different things, for a start. It's sometimes called net income or net earnings. Businesses that sell products and services generate profit from the sales of those products or services and from controlling the attendant costs of running the business. Profit can also be referred to as Return on Investment, or ROI. While some definitions limit ROI to profit on investments in such securities as stocks or bonds, many companies use this term to refer to short-term and long-term business results. Profit is also sometimes called taxable income.

It's the job of the accounting and finance professionals to assess the profits and losses of a company. They have to know what created both and what the results of both sides of the business equation are. They determine what the net worth of a company is. Net worth is the resulting dollar amount from deducting a company's liabilities from its assets. In a privately held company, this is also called owner's equity, since anything that's left over after all the bills are paid, to put it simply, belongs to the owners. In a publicly held company, this profit is returned to the shareholders in the form of dividends. In other words, all liabilities have the first claim on any money the company makes. Anything that's left over is profit. It's not derived from one element or another. Net worth is determined after all the liabilities are deducted from all the assets, including cash and property.

Showing a profit, or a positive figure on the balance sheet, is of course the aim of every business. It's what our economy and society are built on. It doesn't always work out that way. Economic trends and consumer behaviors change and it's not always possible to predict these and what income they'll have on a company's performance.

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Accountant Careers

There are many different careers in the field of accounting ranging from entry-level bookkeeping to the Chief Financial Officer of a company. To achieve positions with more responsibility and higher salaries, it's necessary to have a degree in accounting as well as achieve various professional designations.

One of the primary milestones in any accountant's career is to become a Certified Public Accountant or CPA. To become a CPA you have to go to college with a major in accounting. You also have to pass a national CPA exam. There's also some employment experience required in a CPA firm. This is generally one to two years, although this varies from state to state. Once you satisfy all those requirements, you get a certificate that designates you as a CPA and you're allowed to offer your services to the public.

Many CPAs consider this just one stepping stone to their careers. The chief accountant in many offices is called the controller. The controller is in charge of managing the entire accounting system in a business stays on top of accounting and tax laws to keep the company legal and is responsible for preparing the financial statements.

The controller is also in charge of financial planning and budgeting.  Some companies have only one accounting professional who's essentially the chief cook and bottle washer and does everything. As a business grows in size and complexity, then additional layers of personnel are required to handle the volume of work that comes from growth. Other areas in the company are also impacted by growth, and it's part of the controller's job to determine just how many more salaries the company can pay for additional people without negatively impacting growth and profits.

The controller also is responsible for preparing tax returns for the business; a much more involved and complex task than completing personal income tax forms! In larger organizations, the controller can report to a vice president of finance who reports to the chief financial officer, who is responsible for the broad objectives for growth and profit and implementing the appropriate strategies to achieve the objectives.

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Bookkeeping

So what goes on the accounting and bookkeeping departments? What do these people do on a daily basis?

Well, one thing they do that's terribly important to everyone working there is Payroll. All the salaries and taxes earned and paid by every employee every pay period have to be recorded. The payroll department has to ensure that the appropriate federal, state and local taxes are being deducted. The pay stub attached to your paycheck records these taxes. They usually include income tax, social security taxes pous employment taxes that have to be paid to federal and state government. Other deductions include personal ones, such as for retirement, vacation, sick pay or medical benefits.  It's a critical function. Some companies have their own payroll departments; others outsource it to specialists.

The accounting department receives and records any payments or cash received from customers or clients of the business or service. The accounting department has to make sure that the money is sourced accurately and deposited in the appropriate accounts. They also manage where the money goes; how much of it is kept on-hand for areas such as payroll, or how much of it goes out to pay what the company owes its banks, vendors and other obligations. Some should also be invested.

The other side of the receivables business is the payables area, or cash disbursements. A company writes a lot of checks during the course of year to pay for purchases, supplies, salaries, taxes, loans and services. The accounting department prepares all these checks and records to whom they were disbursed, how much and for what. Accounting departments also keep track of purchase orders placed for inventory, such as products that will be sold to customers or clients. They also keep track of assets such as a business's property and equipment. This can include the office building, furniture, computers, even the smallest items such as pencils and pens.

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Knowing Accounting Principles

If everyone involved in the process of accounting followed their own system, or no system at all, there's be no way to truly tell whether a company was profitable or not. Most companies follow what are called generally accepted accounting principles, or GAAP, and there are huge tomes in libraries and bookstores devoted to just this one topic. Unless a company states otherwise, anyone reading a financial statement can make the assumption that company has used GAAP.

If GAAP are not the principles used for preparing financial statements, then a business needs to make clear which other form of accounting they're used and are bound to avoid using titles in its financial statements that could mislead the person examining it. 

GAAP are the gold standard for preparing financial statement. Not disclosing that it has used principles other than GAAP makes a company legally liable for any misleading or misunderstood data. These principles have been fine-tuned over decades and have effectively governed accounting methods and the financial reporting systems of businesses. Different principles have been established for different types of business entities, such for-profit and not-for-profit companies, governments and other enterprises.

GAAP are not cut and dried, however. They're guidelines and as such are often open to interpretation. Estimates have to be made at times, and they require good faith efforts towards accuracy. You've surely heard the phrase "creative accounting" and this is when a company pushes the envelope a little (or a lot) to make their business look more profitable than it might actually be. This is also called massaging the numbers. This can get out of control and quickly turn into accounting fraud, which is also called cooking the books. The results of these practices can be devastating and ruin hundreds and thousands of lives, as in the cases of Enron, Rite Aid and others.

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Basic Accounting Principles

Accounting has been defined as, by Professor of Accounting at the University of Michigan William A Paton as having one basic function: "facilitating the administration of economic activity. This function has two closely related phases: 1) measuring and arraying economic data; and 2) communicating the results of this process to interested parties."

As an example, a company's accountants periodically measure the profit and loss for a month, a quarter or a fiscal year and publish these results in a statement of profit and loss that's called an income statement.  These statements include elements such as accounts receivable (what's owed to the company) and accounts payable (what the company owes). It can also get pretty complicated with subjects like retained earnings and accelerated depreciation. This at the higher levels of accounting and in the organization.

Much of accounting though, is also concerned with basic bookkeeping. This is the process that records every transaction; every bill paid, every dime owed, every dollar and cent spent and accumulated.

But the owners of the company, which can be individual owners or millions of shareholders are most concerned with the summaries of these transactions, contained in the financial statement. The financial statement summarizes a company's assets. A value of an asset is what it cost when it was first acquired. The financial statement also records what the sources of the assets were. Some assets are in the form of loans that have to be paid back. Profits are also an asset of the business.

In what's called double-entry bookkeeping, the liabilities are also summarized. Obviously, a company wants to show a higher amount of assets to offset the liabilities and show a profit. The management of these two elements is the essence of accounting.

There is a system for doing this; not every company or individual can devise their own systems for accounting; the result would be chaos!

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What Is Accounting Anyway?

Anyone who's worked in an office at some point or another has had to go to accounting. They're the people who pay and send out the bills that keep the business running. They do a lot more than that, though. Sometimes referred to as "bean counters" they also keep their eye on profits, costs and losses. Unless you're running your own business and acting as your own accountant, you'd have no way of knowing just how profitable - or not - your business is without some form of accounting.

No matter what business you're in, even if all you do is balance a checkbook, that's still accounting. It's part of even a kid's life. Saving an allowance, spending it all at once - these are accounting principles.

What are some other businesses where accounting is critical? Well, farmers need to follow careful accounting procedures. Many of them run their farms year to year by taking loans to plant the crops. If it's a good year, a profitable one, then they can pay off their loan; if not, they might have to carry the loan over, and accrue more interest charges.

Every business and every individual needs to have some kind of accounting system in their lives. Otherwise, the finances can get away from them, they don't know what they've spent, or whether they can expect a profit or a loss from their business. Staying on top of accounting, whether it's for a multi-billion dollar business or for a personal checking account is a necessary activity on a daily basis if you're smart. Not doing so can mean anything from a bounced check or posting a loss to a company's shareholders. Both scenarios can be equally devastating.

Accounting is basically information, and this information is published periodically in business as a profit and loss statement, or an income statement.

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Are You Considering Re-Financing?

Homeowners who are considering re-financing their home may have a wealth of options available to them. However, these same homeowners may find themselves feeling overwhelmed by this wealth of options. This process doesn’t have to be so difficult though. Homeowners can greatly assist themselves in the process by taking a few simple steps. First the homeowner should determine his refinancing goals. Next the homeowner should consult with a re-financing expert and finally the homeowner should be aware that re-financing is not always the best solution.

Determine Your Goals for Re-Financing
The first step in any re-financing process should be for the homeowner to determine his goals and why he is considering re-financing. There are many different answers to this question and none of the answers are necessarily right or wrong. The most important thing is that the homeowner is making a decision which helps him achieve his financial goals. While there are no right or wrong answer to why re-financing should be considered there are, however, certain reasons for re-financing which are very common. These reasons include:
* Reducing monthly mortgage payments
* Consolidating existing debts
* Reducing the amount of interest paid over the course of the loan
* Repaying the loan quicker
* Gaining equity quicker
Although the reasons listed above are not the only reason homeowners might consider re-financing, they are some of the most popular reasons. They are included in this article for the purpose of getting the reader thinking. The reader may find their mortgage re-financing strategy fits into one of the above goals or they may have a completely different reason for wanting to re-finance. The reason for wanting to re-finance is not as important as determining this reason. This is because a homeowner, or even a financial advisor, will have a difficult time determining the best re-financing option for a homeowner if he does not know the goals of the homeowner.

Consult with a Re-Financing Expert
Once a homeowner has figured out why they want to re-finance, the homeowner should consider meeting with a re-financing expert to determine the best refinancing strategy. This will likely be a strategy which is financially sound but is also still geared to meeting the needs of the homeowner.
Homeowners who feel as though they are particularly well versed in the subject of re-financing might consider skipping the option of consulting with a re-financing expert. However, this is not recommended because even the most educated homeowner may not be aware of the newest re-financing options being offered by lenders. While not understanding all the options may not seem like a big deal, it can have a significant impact. Homeowners may not even be aware of mistakes they are making but they may here of friends who re-financed under similar conditions and receive more favorable terms. Hearing these scenarios can be quite disheartening for some homeowners especially if they could have saved considerably more while re-financing.

Consider Not Re-Financing as a Viable Option
Homeowners who are considering re-financing may realize the importance of evaluating a number of different re-financing options to determine which option is best but these same homeowners may not realize they should also carefully consider not re-financing as an option. This is often referred to as the “do nothing” option because it refers to the conditions which will exist if the homeowner does not make a change in their mortgage situation.
For each re-financing option considered, the homeowner should determine the estimated monthly payment, amount of interest paid during the course of the loan, year in which the loan will be fully repaid and the amount of time the homeowner will have to remain in the home to recoup closing costs associated with re-financing. Homeowners should also determine these values for the current mortgage. This can be very helpful for comparison purposes. Homeowners can compare these results and often the best option is quite clear from these numeric calculations. However, if the analysis does not yield a clear cut answer, the homeowner may have to evaluate secondary characteristics to make the best possible decision.

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Dell Inspiron Mini 9 the Great

Introducing your new best friend. Complete with connectivity features, you have the freedom to live without ever losing touch.

* Connect with advanced wireless options
* Light and compact for an on-the-go lifestyle
* Dynamic & Customizable user interface
* 4 hours battery life & just 2.28 lbs

Specifications

Processors: Intel® AtomTM Processor (1.6GHz, 512KB L2 Cache, 533MHz FSB)

Operating System:

* Genuine Windows® XP Home Edition SP3
* Ubuntu Linux version 8.04.1

Memory: Up to 1GB2 533MHz DDR2 SDRAM.

Chipset: Intel® 945PM / GS Express Chipset

Graphics: Intel® Integrated Graphics Media Accelerator 950

LCD Display: Glossy 8.9 inch backlit LED display (1024X600)

Audio and Speakers: One external speaker

Hard Drives:

* Up to 16GB configured with a Solid State drive and Genuine Windows® XP Home Edition.
* Up to 32GB configured with a Solid State drive and Ubuntu Linux.

Ports:

* USB 2.0 (3)
* Integrated 10/100 LAN (RJ45)
* 15-pin VGA video connector
* Audio jacks (1-line out, 1 mic-in)
* 3-in-1 Media Card Reader
* AC adapter connector
* Power: 4-cell 32WHr Li-Ion Battery
* Camera: Optional 0.3MP or 1.3MP webcams
* Wireless: Wi-Fi Options: 802.11g mini-card
* Mobile Broadband Options: AT&T built-in cellular mobile broadband (HSPA 7.2)
* Bluetooth Options: Bluetooth® Internal (2.0) mini-card
* Ports, Slots, Chassis: Externally Accessible
* USB 2.0 (3): Integrated 10/100 LAN (RJ45)
* 15-pin VGA video connector
* Audio jacks (1-line out, 1 Mic-in)
* 3-in-1 Media Card Reader
* AC adapter connector

Dimensions & Weight:

* Width: 9.13? (232mm)
* Height: 1.07? (27.2mm) front / 1.25? (31.7mm) back
* Depth: 6.77? (172mm)

Weight:

Starting weight of 2.28 lbs. (1.035 kg) (8.9? display, 4 cell battery). Weights will vary depending on configurations and manufacturing variability.

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Focusing on Camera Stability: Tripod? Beanbag?

Using a tripod helps to achieve sharp, clean focus in photographs, but when that is impractical, a handy, beanbag camera support may be a better answer. Buy one or make your own, filling it with any of various types of filler.

Producing excellent photographic images, whether for personal or professional use, involves good composition, correct lighting exposure and sharp, perfect focus. Unfortunately, even if you have the greatest photo elements, perfectly composed with superb lighting, if the image is blurry or out of focus, everything else really does not matter.

Shaky, hand-held shots can ruin your images. If you read articles on how to take great photos, you will inevitably see the suggestion to use a tripod (or bipod or monopod) to hold and stabilize your camera and avoid camera shake, the nemesis of photography.

But what do you do in a situation where a tripod is impractical? If you are shooting exteriors on a windy day, even if you sand-bag or stake the tripod legs, you still risk having the whole thing blow over with possible disastrous damage to your camera and tripod. If the terrain is uneven, leveling the tripod legs can be a nightmare. And again, the tripod can overbalance and topple over.

Perhaps you have the perfect shot in your viewfinder, but you are on the edge of a precipice or cramped alongside or behind a wall or other solid object where there just is not enough room to set up a tripod. Or maybe you are shooting pets, toddlers, plants or insects and your best angle is low or ground level. (A side note: a remote control device for your camera is very handy when photographing a pet. It allows you to stand off to the side and distract the pet instead of having it stare at the camera lens. You will have less red eye problems!)

The solution to the precarious, cramped or low-to-ground level shooting angle problem? Pull a beanbag camera support out of your camera bag and you will have a steady shooting surface that will fit in, on, under or around just about anyplace.

Perch it on a rock, a wall, a fence, a chair, stool or table; rest it on your car hood, roof or window, a tree limb, outside on the ground or inside on the floor. It is practically limitless where you can utilize this handy gadget.

Taking this concept a step further, what are your options when choosing the type of beanbag support to use? If you spend some time researching on the Internet, try Googling topics such as camera beanbag support, camera support systems or camera support bags. You may be surprised at how many different choices of products as well as shapes and sizes are available to suit your particular needs. For example, you can find round, square, rectangular, saddle and sling types.

If you decide to buy one, you will probably have a choice of buying it filled or not. Filling the bag yourself is easy to do and can save you a bundle of money on shipping. As some of the products offered can get pretty pricey, you might even consider making your own beanbag support.

What can be used to fill the beanbag support bag? Well. The obvious-beans- would be okay as well as rice or dried peas. Keep in mind that if the beanbag gets wet out on location, a choice of organic filler can rot or get moldy, ruining thebag and/or liner as well as your day! Other suggestions are: sand, shot (as used in shot bags for hunters), plastic pellets (although they may be too light-weight to give maximum stability), small glass beads, stones or gravel from your local Home Depot.

I have even seen candy suggested for filler! Fill the bag with M&Ms and you have post-shoot munchies or something to stave off wilderness hunger pangs if you get lost.

What I use and recommend is aquarium gravel, which, although inedible, is clean and small enough to make the bag malleable so you can adjust and cushion the camera properly. It is also heavy enough to make the beanbag stay put in wind and sturdy enough to be impervious to wet conditions. If the bag, liners and contents do get wet, they are easy to dry out without consequences.

I personally use a support bag that has double, folding, aquarium gravel-filled cushions. It features a quarter inch threaded bolt that attaches to the bottom of the camera so that there is no chance of the camera sliding off the support bag. There are handles to carry the bag with the camera attached so that it is ready to shoot. The support bag is also extra cushioning protection around the camera when the whole thing is stored inside a larger, regular camera bag.

If you are interested in making your own beanbag support bag, there are instructions, as well as sources for the materials needed, on my website that is listed below.

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