Financial Statements: A Step-by-Step Guide to Understanding and Creating Financial Reports


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Now the best-selling book of its kind has gotten even better. This revised and expanded second edition of Ittelson’s master work will give you that firm grasp of “the numbers” necessary for business success. With more than 100,000 copies in print, Financial Statements is a perfect introduction to financial accounting for non-financial managers, stock-market investors, undergraduate business and MBA students, lawyers, lenders, entrepreneurs, and more. Most introductory finance and accounting books fail either because they are written “by accountants for accountants” or the authors dumb down the concepts until they are virtually useless. Financial Statements deftly shows that all this accounting and financial-reporting stuff is not rocket science and that you can understand it! Ittelson empowers non-financial managers by clearly and simply demonstrating how the balance sheet, income statement and cash flow statement work together to offer a snapshot of any company’s financial health.

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5 Advantages of Installment Loans

If you find yourself in need of extra cash, an installment loan might be just what you’re looking for. Installment loans consist of borrowing money from a lender and paying it back over a specified amount of time. Although there are different types of loans available in the open market, there are a number of advantages that make an installment loan attractive to most consumers.

One Monthly Payment

One of the main reasons consumers choose an installment loan over other types of borrowing is that they know what their monthly payment is going to be. With some types of revolving debt, such as credit cards, you’ll always have a minimum payment you can make, but the outstanding balance can change depending on a wide range of factors. This can lead to greatly varying payment amounts. With an installment loan, however, the monthly rate is agreed to in advance and typically doesn’t change.

Interest Rates

When it comes to borrowing, it’s hard to beat the interest rates that come with an installment loan. Title loans, payday loans and other types of alternatives come with excessive interest rates that are so high, many state governments have stepped in to regulate their businesses. By choosing an installment loan, your interest rate will be lower, saving you a ton of money.

Can Save Even More

In addition to the interest rate benefits listed above, you can save additional money if you are able to pay a little extra towards your principal balance each month. The more of the principle that you’re able to subtract from the debt, the less money you’ll pay in interest fees.

Getting Approved is Easy

In the day and age of the computer, more and more lenders are making it easier than ever to get approved. All you need to do is go online, search for an installment loan and apply. Most online lenders approve applications on the same day it is received and some even offer to put the loan directly into your bank account within 24 hours.

No Loan Fees

When applying for a traditional loan, there are all kinds of fees that are usually built in. One of the biggest culprits is the loan origination fee, which can add several hundred dollars onto the life of your loan. Even though installment loans have slightly higher rates than long-term traditional loans, the fact that there is no fees to start the loan can often even things up quickly.

If you’re on the fence about whether or not an installment loan is for you, feel free to contact a lender who will be more than happy to answer any questions you may have.

Various types of facilities that are provided by bank

Banking is the perfect financial industry where the public can deposit the money in banks and bank pays the interest in return. Anyone can deposit the money in the bank without any problem. It is a better place to secure the money than the home. Along with the time bank provides various benefits and facilities to the customers who deposit the money in the bank for long time periods. Whether it is e-banking or offline banking you can have the advantages from both modes of banking. Saving the money in the banks not only provides good security but it also helps to maintain the financial structure and system of the country.

The banks are the only place where you can get lots of benefits after depositing the money and during the time of withdraw you will receive money with interest in return. FNB Norcal is providing lots of benefits to the public. With the help of advance technology, banks are also getting advanced day by day. Now you do not have to visit to the bank to check your account information. You can get the information through your smart phone or the laptop. E-banking is the best service for the people who are unable to visit to the bank.

The facilities provided by the banks:

  • Loans for public: Bank provides loans to the people who need it. Whether it is study, home or business loan bank provides every type of loan and helps you to boost your work. Every bank has different terms and conditions for the loans and provides the loans at different interest rates.
  • Everywhere banking facilities: the banking institutes are providing the facilities to use the banking everywhere. ATMs allow to get the money anywhere in the country. You can also use the debit cards and credit cards for the shopping payments. You do not have to carry the cash with you now.
  • Online banking: the online banking changed everything. You can use the online banking for the various works. You can manage the accounts using the online banking. The money transfer and the payments are easier now using these facilities.

So the banks are very necessary part of our life. We can say that the banks are the base of economy of any country. No business can survive for the long time without the help of banks. The banks provide financial help for the public, businesses and for government too.



Business Loan vs. Personal Loan, What’s Best for Your Small Business

When asking for advice on starting a business, the first thing you’ll hear from experienced businessmen is don’t commingle your personal and business finances. However, when things get tight, this is easier said than done. The early years of a startup are hard. It can be very tempting to use a single bank account or make charges to a single card without considering the risks. In order for your business to experience success and keep your personal finances safe, it really is crucial to get this right.

That being said, there are grey areas. For example, is it alright to use a personal loan to finance your business? Are there situations where it actually does make sense to combine business with personal? The answer is, yes.

When you’re first getting started

Unfortunately, if this is your first business venture, you’ll soon find out how difficult – near impossible – it is to secure a small business loan. You might discover that your only option is a personal loan. Your credit score will be crucial here. In order to qualify, a score of 640+ will be required. Keep in mind that, if you do qualify, the amounts for personal loans are typically smaller. You may still find yourself in a position where you lack capital to get things rolling. The question is: if you can secure a personal loan, should you take it?

According to Forbes, “If it’s all you can qualify for, and you absolutely need the sum to get things moving, then yes, this is the best scenario for taking on personal debt to help your business.”

When the personal loan is cheaper than the business loan

The rule to follow is to always go with the lowest-cost capital available. If a personal loan is cheaper than a business loan, then going with the personal loan makes sense. However, if we’re talking about just a point or two, the risk of putting your personal finances isn’t worth it. Also, the lender you take your initial loan out with will likely be the same one you use for future loans. If you don’t receive the rate you want now, that doesn’t mean they won’t give you a better rate later. Ultimately, it will be up to you to weigh the cost-benefit.

If your trying to qualify for an expensive loan, you need to sit back for a moment and ask yourself how you’re going to pay it back. Are you applying for a loan because cash flow is low? If this is the case, you really need to think twice. What will happen to your business’ future if those funds simply aren’t there.

When you’ve run out of options

If you’ve been denied every other business option, but you can secure a personal loan, you are stilled faced with the same question: how do you plan to pay it back? If you already know the answer – and it really is your only other option – then it might be the solution you need.

Before you sign, just make sure it really is your only option. Alternative lenders like First American Merchant specialize in working with businesses that can’t secure solutions elsewhere. These small business loans offer fast funding and easy collections. They are also known for their high approval rates and hassle-free application process. So, make sure you’ve exhausted every option before placing your business’ future and your personal finances at risk.

Digital Finance


Electronic fund is just a strong method to expand the entry away from economic services to different industries, including agronomy, structure, providers, power amongst others. People with no banking account are opening the economic solutions via the electronic method. Many stakeholders are choosing the mobile phones plus a range of brokers to supply economic solutions that are easy at lower cost and greater viability against traditional bank. It’s also called “Branchless Bank”.

Typically, the large spending involved with managing and creating traditional banks has been for linking using the low-income communities a crucial obstacle. A bank structure is difficult to handle in distant places, although it could be costly for clients within the areas towards the metropolitan centers.

In killing the hurdles electronic fund helps. Brokers having mobile phones would be for managing less price purchases for low-income communities, cost-effectively the most optimum method. Income into revolutionary electronic fund companies keeps growing for combining cellular options, designated electronic bank and shipping systems amongst others.

Electronic fund about the international economy’s effect is growing at an accelerated speed. It’s changing the way in which monetary transactions are completed. The electronic finance’s benefits are several, including price decrease, improvement of providers and basically electronic lending options, including types that are sophisticated. Electronic fund items that were particular are shipped on altered worldwide electronic systems.

The technical developments supply fresh leads for FinTech start ups. Additionally, it helps numerous stakeholders including companies and authorities to drive growth. A need is for a powerful worldwide regulatory structure to handle fund that is electronic.

Importance of bank services for the economy

Bank is a financial institution in which people deposits the money and create credit. Banking is safe place to carry money and they get lots of benefit in return. Public wants money more than they have needs, for this they chose the bank. Bank returns their money in interest or by some others beneficial formalities. Bank not only helps the high class people but they take step forward for the needy ones too. Bank provides every kind of facilities to the public. They work as servants and help the public. Many fundamental constitution and law’s formalities have to while dealing with the bank service. Bank provides lots of benefits to the public.

Bank industry has become an important tool in facilitate the development of Indian economy. They handled the whole country’s responsibilities in their hands. FNB Norcal provides every little facilities and information that a man ever needs.

Lots of facilities a bank provides-          

  • ATM- An automated teller machine is a computerized telecommunication device that provides the clients at public space without the need of cashier, human clerk or bank teller. It can be found near restaurant, shopping malls, and airports or at the large places where people may gather.
  • Online banking- An online facility helps the client without coming to bank. Online banking solution has many features and capabilities in common. They can do their banking work at home easily. They can get the information of their account through online banking.
  • Credit/ debit card- The credit and debit cards are the best option to spend money. You can now spend the money when you are out of town or in city. The credit card holder is empowered to spend wherever and whenever by his credit card within limit fixed by his bank.
  • Smart cards- Smart cards are highly secure, more reliable and perform multifunction at the same time. It holds the personal information from medical history to personal banking information of the client.

Lots of services a client can get by the upper given facilities. FNB Norcal has its banking branch all over the world. Their services are very usable and give every little detail to the public about the personal information. They not only provide benefits to the clients but also keep our account completely safe and update us by their banking services. They keep our money safe and secure and give interest with the money. It is known for their best services and facilities for the clients.