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What Your Doctor Knows About Varicose Vein Surgery Cost – And You Should, Too

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If you know someone who deals with frequent doctor's, you're probably taken back by the number of medical procedures you've never heard of before. Particular medical procedures you might not be familiar with are those that pertain to varicose veins, and while that's not necessarily news, what you might want a little light shown on is varicose vein surgery cost.

The one thing that is no secret is the cost of healthcare in this country. The cost of trying to be a healthy person nowadays is astoundingly high, which can often make people shy away from seeing a doctor. When it comes to varicose veins, the last thing most people will do is see their doctor about getting rid of them because it seems like an expense that's not worth making. After all, getting rid of them is often a cosmetic procedure, and dropping serious money on what essentially feels like a vanity project seems frivolous.

Herein, however, lies the problem. Too many people are making a medical decision based on its cost-effectiveness. While this is a much bigger problem in terms of healthcare (way too big for the purposes of this article), it comes down to patients not taking the time to consult their physicians, which can be dangerous. It's time to be proactive patients and act as savvy consumers. Cost is often looked at as a taboo subject, but you deserve to know everything you can to make an informed decision. When it comes to your varicose veins, you need your doctor to be upfront about the cost of surgery to treat them.

Here are some things you may learn from your physician about varicose vein surgery cost:

Surgery Costs More Money Than Other Treatments – Because of the invasive nature of surgery, it costs more. It can also lead to longer periods of recovery and may not have the outpatient recovery other treatments do.

There Is More Than One Treatment Possibility – Surgery is one of the last treatments noted in dealing with varicose veins. Be sure to ask your doctor about these possibilities first.

Insurance May Not Pay – Varicose vein treatments tend to be seen as cosmetic, therefore they're labeled as elective procedures, which most insurance plans don't cover. You need to know this before any treatments.

Less Invasive Can Be Best – Many of the treatments can be done in the office and have relatively low recovery periods. This is becoming quite the norm for most medical procedures and might be the best course of action for your varicose veins.

Alternative Medicine – Though a little on the edge, ask you doctor about any alternative medicine options. While most medical professionals may scoff at alternative medicine (herbal and dietary supplements), others may be enlightened enough to note some possibilities, though they'll be quick to note that there isn't much information out there to consider them viable options.

Varicose vein surgery cost can keep individuals from going through with the procedure just because they don't know how to pay for it. If there are issues with their insurance or simply with income, paying for surgery is almost impossible. Discuss these issues with your doctor and have honest conversations about all facets of your varicose vein treatment. The last thing you want to do is leave your health mired in misinformation & matters of billing.

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Source by Morris Raymond

Views: 0

November 10, 2022
Successful Entrepreneurship – Cracking the Code

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We've heard stories of penniless immigrants who came to Canada with nothing but a dream, but within a single generation accumulate a lot of wealth. How do they do it?

This is a mystery to the typical person who graduates with a post-secondary education and goes on to work in the labor force as an employee (ie, most people!). This is because our educational system specifically trains its students to become employees rather than entrepreneurs.

So when we hear about these rags to riches stories, we ask ourselves – "how did they do it?" As someone who grew up in an entrepreneurial household, here is my take on Cracking the Code to Successful Entrepreneurship:

1. In most cases, one will never become truly financially independent working as an employee. Whether you are an entry-level bookkeeper or the CEO of a large organization, you can be unexpectedly fired at a whim by whoever you report to. You are therefore susceptible to financial catastrophe.

2. Therefore, the only way to achieve financial independence is to build and maintain a successful business.

3. There is a "magic formula" that will allow to evaluate a businesses' odds of success:

[( Sale price of product – Variable cost of product) x Units sold] – Fixed Overhead Costs = Profit

This formula will be very familiar to accountants – it's called the Contribution Margin Ratio.

Let's demonstrate this formula using a Bubble Tea business. Wonder why there are so many Bubble Tea shops in Toronto? Because they make a heck of a lot of money with little risk:

Price per bubble tea drink – $ 4.00

Cost to make per drink (water, powder, sugar) – $ 0.50

Drink sales per month assuming 100 sold per day – 3,000

Monthly rent for shop – $ 3,000

· Assume no labor costs – in the early years, the owners will work the shop themselves

· [($ 4.00 – $ 0.50) x 3,000] = $ 10,500 in sales

· Profit after paying rent: $ 10,500 – $ 3,000 = $ 7,500

Once you apply this formula to the multinational soft drink companies to analyze their beverage businesses, you can begin to understand why soft-drinks companies have grown from humble beginnings to global companies they are today.

You can also use this formula to evaluate almost any small business you might be thinking of getting into: restaurant, nail salon, hair salon. You should quickly realize that it's best to choose businesses with a high profit margin (ie, high selling price for produce / service and low cost of supplying the product / service) and high customer traffic (ie, units sold, people serviced).

Seeing the Future – Cash Flow Projection

You want to know if you'll be making a profit before going any further. If you skip this step, your chances of failing increase significantly.

Investigate your costs to start up and run your business. The most common are:

· Rent – how much will it cost to rent at the location where you want to set up?

· Wages and payroll tax – will you need employees or can your run the business yourself? How much do you need to pay yourself to meet your personal living costs?

· Advertising costs – what types of advertising will you use – TV, radio, internet – and what is their cost versus their potential return on investment?

· Cost of inventory or raw materials – will these be imported? If yes, you'll need to factor in the impact of exchange rates on your profitability.

· Purchase of equipment – general office equipment like a phone system, computers and IT network, and furniture, as well as specialized equipment for your specific line of business like restaurant equipment (if you're opening up a restaurant).

· Business liability insurance – to protect yourself from liability if someone is inadvertently harmed by your product or service, or if someone is injured on your premises.

· Pricing – how much will you be able to sell your product or service so that's it's competitive with others in your line of business

Once you've figured out your monthly costs (ie, your overhead) and pricing, you're now in the position to determine how many unit sales you need to make to breakeven – remember the Contribution Margin Ratio that we looked at. Use a spreadsheet to build a cash-flow projection model.

Protecting Yourself – Creditor Proofing

If things don't work out for your business you could be financially ruined. Therefore, consider the following techniques to protect your personal assets from your business creditors.

1. Incorporate the business. This will provide you with a level of creditor protection – most of a corporation's obligations are limited to its assets so this structure can provide protection for personal assets. This structure also has income tax benefits, which will not be discussed here.

2. Always pay statutory debt on time, specifically:

· Payroll source deductions;

· Federal and provincial sales tax collected; and

· Employee wages and vacation payable.

Corporate directors can be personally responsible for these debts, notwithstanding that the business is incorporated. In many incorporated small businesses, the shareholder (ie, the business owner) and director are the same person.

3. If you can, avoid giving personal guarantees of your corporation's business obligations (eg, landlord, suppliers) unless it is absolutely necessary.

You will need a financial expert on your team to deal with the issues raised in this article. Therefore, I would strongly advise that you contact a CPA who can help you further.

For all you aspiring entrepreneurs out there, I hope that I've helped take out some of the "mystery" behind successful entrepreneurship. Use this tool wisely and never stop dreaming!

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Source by Victor Fong

Views: 0

July 29, 2022
Can Drug Users Get Life Insurance?

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Drug use in Canada is prevalent to non-existent depending on what you define as a “drug.” Eleven per cent of the Canadian population “has a problem with drugs or alcohol” according to a CBC survey, but this does not include people who use drugs recreationally without “a problem.” That number, especially when you include alcohol and cannabis, is much, much higher, and if you include only people with classically-defined addictions to the illicit drugs, such as crack cocaine and heroin, the number is much, much lower.

In general, the way insurance companies approach drug issues is based on two major questions: is the potential client using prescription drugs provided through the proper channels, or are they using drugs outside those channels, and therefore statistically vulnerable to certain liabilities.

For the former, these questions are often discovered in the background checks and medical questionnaires provided by insurance companies prior to developing or offering a policy. Naturally, some drugs have effects on a person’s life expectancy and prospective quality of life, and others come with certain health risks, even when provided by a healthcare practitioner. In these, instances, an insurance company will take into account the medical issues being treated by the drugs and the effects of the drugs themselves in developing a policy, but a policy can usually be provided by most major health insurance providers.

For those who use illicit drugs, the options are generally more difficult. Usually, insurance companies are hesitant to provide policies, many are even wary of providing low-cost options for people who smoke cigarettes.

Luckily, there are some options still available for drug users, especially those who use illicit drugs. Remember, many policies will not cover complications that occur because of illicit drug use, and not disclosing such information when asked can constitute insurance fraud, which can be a severe crime that includes heavy fines and possible jail time.

In general, illicit drug users have only one option when it comes to life insurance opportunities: simplified life insurance policies that do not require medical questionnaires. This is changing as more and more insurance providers offer products specifically designed for the “hard-to-insure” market. Simplified insurance plans often require only simple medical questions that do not include questions about drug use.

No medical life insurance policies vary widely from carrier to carrier, so it is beneficial to research these plans before contacting them to compare potential rates and coverage. You can also ask your insurance broker to make an informal preliminary inquiry before you submit a formal application. Informal preliminary inquiries are non-binding and can give you an idea of whether your application would be approved as standard, declined or rated. Bear in mind that insurance providers may offer plans with coverage on day one or with a two year waiting period depending on your situation.

If you have used or are using illicit drugs and require life insurance, it is important to discuss your options with an insurance broker who has your best interests in mind. With the right team behind you, the right policy can be found.

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Source by Jack Tereshkov

Views: 0

July 29, 2022
Medical Coding Statistics and How It Helps in Public Health Improvement

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Medical coding is like translation. People behind medical coding take medical reports and convert them into a set of codes. In a medical claim, these codes play a great role. In this article, we are going to take a look at medical coding and the relevant statistics. Read on to know more.

The Reason to Code Medical Reports

You may be wondering why we need to code medical reports. Isn't it enough to just describe the diagnoses, symptoms, and procedures? After all, these reports can be sent to an insurance company.

According to the reports released by the Centers for Disease Control (CDC), over the past 12 months, there were more than 1.4 billion patients who visited hospitals. This includes patients who visit emergency rooms, outpatient facilities, and physician offices.

Suppose there are only 5 pieces of coded info against each visit. It would be a whopping 6 billion pieces of info that the professional would need to transfer each year. This estimate is unrealistically low, though. So, medical coding helps make it easier to transfer a lot of data.

Aside from this, coding helps you distribute the same documents between different medical facilities. For instance, the code of strep throat is the same whether you are in Hawaii or Arkansas. With the help of uniform data, you can perform research and analysis in an efficient manner. Health and government agencies make use of the info in order to keep an eye on health trends. For instance, if the CDC needs to analyze the spread of viral pneumonia, the ICD-10-CM code can help them.

Lastly, coding helps you find out if a treatment is effective. As a matter of fact, this is a lot more important for large facilities, such as hospitals.

Now, we should go ahead and find out more about 3 types of code. If you are a medical coder, you will find this information pretty useful.

Three Types of Code

ICD

ICD is short for the International Classification of Diseases. These diagnostic codes provide a uniform vocabulary to describe the possible causes of death, illness or injury. In the 1940s, the World Health Organization (WHO) established this code. Over the past 60 years, it's has been revised many times.

These codes help represent the diagnosis and the condition of the patient. As far as the billing process goes, these codes help professionals determine the necessity of medical treatment.

CPT

CPT is short for Current Procedure Terminology. These codes are used in order to document most of the medical procedures at a doctor's office. The American Medical Association (AMA) published and maintained this code. So, AMA reserves the copyrights and updates the codes on a yearly basis.

HCPCS

HCPCS refers to the Healthcare Common Procedure Coding System. It's also known as "hick picks". Primarily, HCPCS codes correspond to equipment, procedures, and services that CPT codes don't cover, which includes medicines, drugs, ambulance rides, prosthetics, and medical equipment.

So, this was an introduction to medical coding. Hope you will find this guide helpful.

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Source by Shalini M

Views: 0

July 29, 2022
The Unpaid Internship: Is Your Business Ready for It?

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Spring is just about upon us and that means that college kids will be let for a well-deserved. It also means that many of these young people will be looking for internships to train them and give them necessary skills as well as experience in the business world.
The Federal government has responded positively to the notion of unpaid internships by allowing more flexibility for companies who wish to benefit from unpaid interns which in turn allows those 'hired' for the position the opportunity to expand their potential for a well-salaried job in the future.

The Fair Labor Standards Act discussion the conditions that a business can allow interns to work without pay. It involves the terms and stipulations listed below.

Conditions in Accepting an Unpaid Intern

1. The unpaid intern must benefit from a training program that is similar to that of a schooling circumstance.

2. The intern partnership is more advantageous to the intern than to the business he or she will be working for.

3. The hiring business owner will not get immediate value form the partnership situation.

4. Both the business owner or manager and the intern understand that payment is not a mandatory issue.

5. The job that the intern is given will not result in another staff member's dismissal.

6. There is a clear message from the business owner to the intern that a salaried job is not guaranteed after the internship has been completed.

If the business owner fails to adhere fully to any of these terms, the intern cannot work without pay: he or she must earn minimum wage with standard tax with-holdings taken off the paycheck.

Notwithstanding the above prerequisite conditions, business owners should take into account the exposure faced when employing an unpaid intern.

This may include potential lawsuits or workers comp issues.

As such, business owners should answer the following important pertinent questions:

• Will the business's Workers Compensation or Commercial General Liability insurance pay for related expenses of an unpaid intern's injury incurred at the workplace?

• Does the intern's college have sufficient liability coverage to cover potential damages or losses made by the intern?

• Does the business Employment Practices Liability coverage protect the company in the event the intern will sue for any reason?

• Does the intern clearly understand his or her work requirements?

• Is there a document signed by the intern about job duty, no pay, hours required at the job and calendar work dates?

Be sure to contact an experienced independent insurance agency about any other issues in the business / unpaid internship relationship.

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Source by M Wyzanski

Views: 0

July 29, 2022
Smart Trading Options for Conservative Investors in 2018
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When it comes to the stock trade for the conservative investor, there is no doubt we're talking about stock options. But, what exactly is a conservative approach to trading? And what techniques can the savvy investor utilize in 2018 to manage risk and ensure growth? We've outlined a few options that might be right up your alley:
1. Covered Call Options
The covered call is really the most conservative of options and some say it's even more conservative than purchasing the original stock. Frequently used within IRA accounts, the covered call can be approached by a conservative investor from two perspectives:
- Generate Consistent Income: You can employ this strategy without selling shares of a business while still generating monthly or weekly income. This strategy is usually used to capitalize in the event that your stock price is projected to decrease or not show improvement within in the short-term.
- Sell Stocks at Premiums Selling stocks above the current price may be useful when you can stipulate the price on a stock with which you'd not be uncomfortable selling. This tactic is useful in getting a stock that you are not in a hurry to offer and the sale of the Call may eventually take the stock but at the cost that you establish when the option was sold by you.
1. Use Puts as Insurance
This is a strategy that can be used by you if you anticipate a reversal in a short-term stock price hike. Because you're interested in reaping the long-term benefits, you are interested in taking the short-term profits, therefore purchasing a Put will ensure that if the stock goes down in value, the value of the Put will go up. Furthermore, you can sell the Put at a greater cost than you paid for it and reap a gain while the price of the stock is declining.
1. Secure Puts with Cash
Another method of securing your interest in a long-term investment is to hold adequate capital in cash on a stock that may see a fall in price. Of course, you must understand the business you're investing in and set a pre-determined price for your stock Put, but this is a simple method to ensure your long-term investment is protected because when the stock does fall, you can close in on the stock Put price.

As with any investment opportunity, the strategies for stock options are endless. Although the stock market is normally associated with short-term investments, conservative investors are starting to identify options for long-term investments within the stock exchange system that not only generate income, but add value to your portfolio with minimally involved risk.

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Source by Chris Bouchard

Views: 0
July 28, 2022
Alternative Medicine – Shiatsu Massage

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The object of most massage is to relax and let stress melt away. In alternative medicine, shiatsu massage is actually used to align and balance the different meridians in the body, through specific pressure points. This practice of balancing the meridians makes it like acupuncture, but without needles. shiatsu is actually older than acupuncture.

A shiatsu massage differs from other types of massage in several ways. This type of massage originates in Japan. shiatsu actually means "finger pressure" in Japanese. The meridians that the shiatsu massage therapist focuses on are the pathways that bring energy, or "chi" into the body.

The massage is done on the floor, with the client lying on a mat or futon cushion. It is done fully clothed. The therapist does not use oil or lotions, so there is no need to take off your clothes to receive a shiatsu massage.

Unlike a traditional massage, the shiatsu massage therapist will ask the client to begin the massage lying on their back. They will then check the organs by pressing on them individually within the abdomen. While pressing, they are checking on the health and suppleness of the organs. The information they get from this analysis will instruct them on how to proceed with the massage.

After this evaluation is complete, the client will lie face down, while the shiatsu body work is done on the back of the body. The massage will usually end face up with a recheck of the organs. This will tell the therapist whether progress has been made, and indicate what to work on in the next session.

Although shiatsu means "finger pressure", there are actually a variety of techniques used during a massage session. You may experience rocking of the body, rotation of the limbs, and stretching of the limbs and muscles.

So, the shiatsu massage therapist is working to help you be relaxed, yes. But, the main objective of the massage is to work within your body's meridians to achieve balance and healing. Before beginning a career in shiatsu massage, the therapist will consult and memorize a meridian chart, which shows which body systems and organs are affected by certain meridians.

The main reason that this massage is done on the floor is that the shiatsu massage therapist will be using their whole body during the massage. This is in contrast to the average massage therapist, who uses a table and pressure from their hands to deliver the massage. It's common for the therapist to use their elbows, feet, and pressure from the whole body to treat the client.

This traditional form of massage has been considered to be "medicine" for many years by different cultures. It is not covered under health insurance, and is not proven to have curative qualities under today's definitions of modern medicine. So, it doesn't have scientific proof, but has stood the test of time. Many people rely on it today, and will continue using it to balance their chi.

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Source by Cat Harvey

Views: 0

July 28, 2022
The Gay Solution (1): Finding a Loving Male Partner to Marry

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Sex without love wouldn't satisfy you for more than 15 minutes and love without sex wouldn't satisfy you at all. So how do you find both in the same man? That was the question I left you with in a previous article.

A friend of mine is a life-insurance broker. He always says that there is only one rule for survival in sales and that is see people, see people, and see people. It's a numbers game. Of all the people you are going to see only between 2 and 10% will buy from you, so the more you see, the better your sales. Meeting people is exactly the same; the more people you meet, the better your chance of meeting the right person. Luckily there are a few possibilities in meeting new people.

The older guys (read: even older than I am) tell us that they didn't have gay clubs, bars, or dating services so they had to refine their gaydar and flirting skills. The fact is that those skills are still just as valuable today as they were years ago. Another important skill is taking it one step at a time. Two types of guys never end up with a perfect match; those who fly off in a second, and those who never come out of the starting block. The guys that fly off are proposing marriage before they even know the other guy, and those in the starting blocks only stare evening in and evening out.

If you are a flyer you need to relax. Look for friends in stead of possible partners. Nothing is a bigger turn-off than a guy who hits on you after he has tried everybody else on his way to your table. Friendly people have a few good friends, many acquaintances, and two or three possible people they might be interested in. Guys who try to fly into serious relationships have no friends, one or two acquaintances, and the whole city as possible people they are interested in. The important thing you should learn from this is that you start by meeting lots of people, you will find a few very good friends among them, and in time you will meet somebody you are really interested in. Flyers always run the risk of getting their heart broken on a weekly basis. You can never keep up with who they are in love with – it changes every time you see them, and every month or two they try you yet again. That is when you decide to ignore them completely.

The guys who never take off are almost in the same position. They see a possibility every night, but they are too scared to do anything about it. They look a bit weird if they stand in a corner ogling everybody so you ignore them as well. They have a few acquaintances that turns into friends because they normally end up in a group of seekers – waiting for something that never happens. If you are in such a group get out and start building your self-esteem. If you do not think that you are good enough as a partner, nobody else will believe in you either.

With that in your mind go back to the gay clubs, gay bars, dating sites, and the gay section of your local bookstore – start by making friends, being a good friend, and enjoying friendship for its own rewards. Stay away from the friend-zone – that is the ogling bunch in the corner. You will do fine.

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Source by Brand Doubell

Views: 0

July 28, 2022
Trading and Profit and Loss Account

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Trading Account

As already discussed, first section of trading and profit and loss account is called trading account. The aim of preparing trading account is to find out gross profit or gross loss while that of second section is to find out net profit or net loss.

Preparation of Trading Account

Trading account is prepared mainly to know the profitability of the goods bought (or manufactured) sold by the businessman. The difference between selling price and cost of goods sold is the,5 earning of the businessman. Thus in order to calculate the gross earning, it is necessary to know:

(a) cost of goods sold.

(b) sales.

Total sales can be ascertained from the sales ledger. The cost of goods sold is, however, calculated. n order to calculate the cost of sales it is necessary to know its meaning. The ‘cost of goods’ includes the purchase price of the goods plus expenses relating to purchase of goods and brining the goods to the place of business. In order to calculate the cost of goods ” we should deduct from the total cost of goods purchased the cost of goods in hand. We can study this phenomenon with the help of following formula:

Opening stock + cost of purchases – closing stock = cost of sales

As already discussed that the purpose of preparing trading account is to calculate the gross profit of the business. It can be described as excess of amount of ‘Sales’ over ‘Cost of Sales’. This definition can be explained in terms of following equation:

Gross Profit = Sales-Cost of goods sold or (Sales + Closing Stock) -(Stock in the beginning + Purchases + Direct Expenses)

The opening stock and purchases along with buying and bringing expenses (direct exp.) are recorded the debit side whereas sales and closing stock is recorded on the credit side. If credit side is Jeater than the debit side the difference is written on the debit side as gross profit which is ultimately recorded on the credit side of profit and loss account. When the debit side exceeds the credit side, the difference is gross loss which is recorded at credit side and ultimately shown on the debit side of profit & loss account.

Usual Items in a Trading Account:

A) Debit Side

1. Opening Stock. It is the stock which remained unsold at the end of previous year. It must have been brought into books with the help of opening entry; so it always appears inside the trial balance. Generally, it is shown as first item at the debit side of trading account. Of course, in the first year of a business there will be no opening stock.

2. Purchases. It is normally second item on the debit side of trading account. ‘Purchases’ mean total purchases i.e. cash plus credit purchases. Any return outwards (purchases return) should be deducted out of purchases to find out the net purchases. Sometimes goods are received before the relevant invoice from the supplier. In such a situation, on the date of preparing final accounts an entry should be passed to debit the purchases account and to credit the suppliers’ account with the cost of goods.

3. Buying Expenses. All expenses relating to purchase of goods are also debited in the trading account. These include-wages, carriage inwards freight, duty, clearing charges, dock charges, excise duty, octroi and import duty etc.

4. Manufacturing Expenses. Such expenses are incurred by businessmen to manufacture or to render the goods in saleable condition viz., motive power, gas fuel, stores, royalties, factory expenses, foreman and supervisor’s salary etc.

Though manufacturing expenses are strictly to be taken in the manufacturing account since we are preparing only trading account, expenses of this type may also be included in the trading account.

(B) Credit Side

1. Sales. Sales mean total sales i.e. cash plus credit sales. If there are any sales returns, these should be deducted from sales. So net sales are credited to trading account. If an asset of the firm has been sold, it should not be included in the sales.

2. Closing Stock. It is the value of stock lying unsold in the godown or shop on the last date of accounting period. Normally closing stock is given outside the trial balance in that case it is shown on the credit side of trading account. But if it is given inside the trial balance, it is not to be shown on the credit side of trading account but appears only in the balance sheet as asset. Closing stock should be valued at cost or market price whichever is less.

Valuation of Closing Stock

The ascertain the value of closing stock it is necessary to make a complete inventory or list of all the items in the god own together with quantities. On the basis of physical observation the stock lists are prepared and the value of total stock is calculated on the basis of unit value. Thus, it is clear that stock-taking entails (i) inventorying, (ii) pricing. Each item is priced at cost, unless the market price is lower. Pricing an inventory at cost is easy if cost remains fixed. But prices remain fluctuating; so the valuation of stock is done on the basis of one of many valuation methods.

The preparation of trading account helps the trade to know the relationship between the costs be incurred and the revenues earned and the level of efficiency with which operations have been conducted. The ratio of gross profit to sales is very significant: it is arrived at :

Gross Profit X 100 / Sales

With the help of G.P. ratio he can ascertain as to how efficiently he is running the business higher the ratio, better will be the efficiency.

Closing Entries pertaining to trading Account

For transferring various accounts relating to goods and buying expenses, following closing entries recorded:

(i) For opening Stock: Debit trading account and credit stock account

(ii) For purchases: Debit trading account and credit purchases account, the amount being the et amount after deducting purchases returns.

(iii) For purchases returns: Debit purchases return account and credit purchases account.

(iv) For returns inwards: Debit sales account and credit sales return account

(v) For direct expenses: Debit trading account and credit direct expenses accounts individually.

(vi) For sales: Debit sales account and credit trading account. We will find that all the accounts as mentioned above will be closed with the exception of trading account

(vii) For closing stock: Debit closing stock account and credit trading account After recording above entries the trading account will be balanced and difference of two sides ascertained. If credit side is more the result is gross profit for which following entry is recorded.

(viii) For gross profit: Debit trading account and credit profit and loss account If the result is gross loss the above entry is reversed.

Profit and Loss Account

The profit and loss account is opened by recording the gross profit (on credit side) or gross loss (debit side).

For earning net profit a businessman has to incur many more expenses in addition to the direct expenses. Those expenses are deducted from profit (or added to gross loss), the resultant figure will be net profit or net loss.

The expenses which are recorded in profit and loss account are ailed ‘indirect expenses’. These be classified as follows:

Selling and distribution expenses.

These comprise of following expenses:

(a) Salesmen’s salary and commission

(b) Commission to agents

(c) Freight & carriage on sales

(d) Sales tax

(e) Bad debts

(f) Advertising

(g) Packing expenses

(h) Export duty

Administrative Expenses.

These include:

(a) Office salaries & wages

(b) Insurance

(c) Legal expenses

(d) Trade expenses

(e) Rates & taxes

(f) Audit fees

(g) Insurance

(h) Rent

(i) Printing and stationery

(j) Postage and telegrams

(k) Bank charges

Financial Expenses

These comprise:

(a) Discount allowed

(b) Interest on Capital

(c) Interest on loan

(d) Discount Charges on bill discounted

Maintenance, depreciations and Provisions etc.

These include following expenses

(a) Repairs

(b) Depreciation on assets

(c) Provision or reserve for doubtful debts

(d) Reserve for discount on debtors.

Along with above indirect expenses the debit side of profit and loss account comprises of various business losses also.

On the credit side of profit and loss account the items recorded are:

(a) Discount received

(b) Commission received

(c) Rent received

(d) Interest received

(e) Income from investments

(f) Profit on sale of assets

(g) Bad debts recovered

(h) Dividend received

(i) Apprenticeship premium etc.

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Source by Anil Kumar Gupta

Views: 0

July 27, 2022
Dangerous Driving Habits

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Many of today’s drivers have dangerous driving habits. You do not have to travel far to see people driving with risky driving techniques. Dangerous driving habits can be observed on highways, on residential streets, and in parking lots. Dangerous driving habits are not only fraught with danger to the driver performing them, but to the public as well.

Everyone eventually crosses paths with a reckless driver! Many of us survive these encounters, but some do not. Dangerous drivers kill people and destroy property everyday. As a result, Insurance companies cite dangerous drivers as one of the main reasons for the skyrocketing cost of automobile insurance.

There are drivers from all age groups that have dangerous driving habits. Younger drivers can be dangerous drivers simply because they lack experience driving in various environments, such as driving at night, or driving on interstate highways. Older drivers are sometimes dangerous because their senses and reflexes are not as sharp as they once were.

Technology has also added to dangerous driving habits. Cell phones are now more popular than ever, many drivers have cell phones. While driving in town or on the highway, it is rare not to see someone driving while talking on his or her cell phone. Another dangerous driving habit is applying makeup while driving. Applying make-up while driving is thought to be a leading cause of accidents, and is completely irresponsible. One of the most common dangerous driving habits is eating while driving. Many drivers leave the drive through lane of their favorite restaurant and immediately pull onto a road while trying to eat and drink the food they just purchased. All of those bad habits can distract a driver from paying attention to other drivers on the road and being aware of road conditions.

There are many kinds of driving habits that are considered risky. Speeding is a very common driving habit that can lead to a disaster. Drivers that speed are engaging in reckless and impulsive behavior. It is especially dangerous to speed in residential neighborhoods where children and pets may be playing. Speeding drivers can also be dangerous in neighborhoods where homeowners in their vehicles are entering and exiting their driveways.

Another category of dangerous driving habits is failing to use turn signals. Proper use of turn signals can help prevent most accidents. Failing to use turn signals properly can increase the rate of accidents with other vehicles and pedestrians. Turn signals are simple devices that can give advance notice to other drivers about your driving intentions. It is unfortunate that failing to use such a simple device can cause so many tragedies in terms of lives and property damage. Road rage is a one of the consequences of failing to use turn signals. Many drivers become enraged when they barely escape an accident due to another driver failing to use a turn signal to notify them before changing lanes or making a turn.

Many dangerous driving habits are a result of over confidence. Drivers with years of experience sometimes become dangerous drivers because they are over confident with driving their particular vehicle, or a particular route between home and work. They are not prepared when something out of the ordinary occurs.

There is an old saying, “Good habits are as hard to break as bad habits.” If you have dangerous driving habits you can change them by applying good driving skills for a few weeks, after a few weeks many of these good driving techniques will become your new habits. You should practice watching for speed limit signs, and adjust your speed if necessary. If you practice using turns signals every time you make a turn or change lanes it will quickly become a habit. Developing good, safe driving habits may one day save your life or the life of someone close to you.

(c) 2006, Marcus Barber

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Source by Marcus Barber

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July 27, 2022