Is There Any Form of Formal Education for Forex Traders?

As far as I know, there is no formal degree which is Forex specific. However there is a certification program, which measures your proficiency in many aspects of finance which correlates to a lot of things involved in Forex trading. I am referring to the Chartered Financial Analyst, or CFA for short. The curriculum of most CFA programs covers subjects such as ethics, quantitative methods, economics, corporate finance, financial reporting and analysis, security analysis and portfolio management.

You need bachelors degree in order to be eligible for CFA certification. There are many schools on and off the Internet which offer study materials for the CFA exam.

While this would go a long way in helping you understand the mechanics of Forex trading, it is by no means exhaustive, and neither does it cover everything that a good trader needs to know. However many Forex related companies would look favorably at candidates who possess a CFA certification. That perhaps is where it makes the most sense, if you are planning to work for a Forex broker or some other Forex related business.

Many experienced traders however would recommend Forex specific courses which don’t come with a certification but they do call for much more ground with respect to Forex trading and analysis. One excellent program that has received many positive reviews is Peter Bains Forex Mentor program, which you might want to check out. In fact even if you do decide to go for CFA certification, it might be a good idea to go on the Forex Mentor program concurrently with your CFA studies. Since the CFA program covers more ground, it ends up being a more general view of the different elements involved in financial analysis. On the other hand the Forex Mentor program, and other similar Forex training programs, are specific to Forex trading and studying them concurrently, while trading demo accounts would provide a much higher caliber of education and training compared to studying either one of them by themselves.

Never underestimate the value of using demo accounts in your Forex education. In Forex, what is important is the real world trading. There are so many different ways of analyzing the market and while it’s good to know most if not all of them, eventually you will need to focus on just a couple of analysis tools because the use of too many tools will slow down your trading and will result in missed opportunities due to overanalysis. So the Forex specific programs will show you the fundamentals of the different tools for analysis. The CFA on the other hand will provide you with the knowledge necessary to analyze fundamentals effectively. Taken together, you will be equipped with a fundamental and technical tools needed to chart your Forex trading direction. Then by using the demo account you are able to select and fine-tune your analysis tools of choice until you’re able to come up with your own personalized, and effective trading system.

Forex trading does involve quite a bit of studying, but the great thing about it is that you are able to get instant gratification in the sense that you are able to see the connection between what you are studying in what you’re doing, or intend to do trading wise.

You can also look into a coach, mentor or advisor. here is a cool article I found online that looks into the advantages of having someone help you (hope it is OK to copy and paste here…)

Why Have a Mentor When Using Forex

Forex has enabled beginners to catapult themselves into the exciting world of foreign exchange trading, but currency exchange is not a guessing game, and novices aren’t generally successful right off the bat. Like anything else Forex trading requires training and know-how. Consider the following reasons why you should consider using a Forex mentor, tutor or platinum training solution to improve your trading abilities:

Understand the Unknown

When trading currencies, or any commodity, you will undoubtedly encounter alien looking charts and figures. Platinum Trading Solutions says that without formal training you will not be able to properly interpret daily information feeds, which will harm your ability to do informed trading.

Know your Resources

When trading Forex you will need to regularly consult a list of critical resources. If you do not feel comfortable using: the law of the charts, probabilities, Investopedia, Forex news, Daily FX, Forex blogs, the Forex Symbol Table, historical currency exchange rates, and more.

Learn Patience and Timing

The most important, and difficult, aspect of trading is knowing when to buy and sell. Novice buyers often sell out of excitement and anticipation, regardless of correct timing. A Forex mentor from Platinum Trading Solutions can teach you the patience you need, and show you how to recognize the right time to buy and sell. Remember that this is an art form and being precise is critical.


As a novice trader, you are going to get frustrated. Nobody is successful on Forex overnight and there are many hurdles you must get past in order to be successful. A mentor, tutor from platinum training solution can help you get through the tough times and ensure you make it to the light at the end of the tunnel.

Save Time

For those eager to make it rich on Forex quickly, save yourself the time and effort of learning the hard way. When you go it alone on Forex you will undoubtedly make a lot of mistakes on your way to success, and this is ok, but it will cost you precious time. A mentor or platinum training solution will carry you over those hurdles by glossing over the mistakes (and the costs associated with them).

Source by Winno Fee

Here Is How To Raise Your Credit Credit Score From 480 To 700

You can raise your credit score from 480 to 700 by following a few steps listed below.

Your credit score is your financial gateway to getting the things you want in life. Your credit score is used for the following; when you buy a car, lease a car, rent an apartment, buy a home, college loans, buy the newest computers, electronics and it’s also used by insurance companies when you need insurance.

Credit scores range from 300 to 850 and any score below 500 is considered a higher risk to lenders. Trying to maintain a score above 700 will improve your chances of getting a loan for larger purchases such as a car or a house. With a higher score you can get better interest rates and terms on your loans.

Obtain a 3 to 1 Credit Report

Go to to get a free copy of your credit report. You want the 3 to 1 so that you can see the complete report from all 3 credit report agencies. Check your report for any inaccuracies such as someone else using your credit or anything that shouldn’t be there. This could be identity theft and should be reported immediately.

Make sure that each of your creditors have accurately reported your information. If you find there are mistakes, draft a letter and mail it to the credit report agency along with any proof to back up your dispute. You want to get this inaccurate information off your credit report as soon as possible.

Consolidate Credit Cards

Transfer balances on higher interest rate cards to ones that have a lower interest rate. This will lower your credit score by getting rid of too much debt.

Inspect Your Finances

Pull all your finances together. Look for somewhere you can squeeze say $100.00 additional each month. Take this money and apply it to the credit card with the highest interest rate each month until you get it paid off. Then, take that money and pay off the next highest interest rate credit card, and so on.

Avoid the Top End Limit of Credit Cards

Being maxed out on a credit card can lower your credit rating. A good benchmark is only holding 30% of the max amount available on the card. If you have a credit card with a balance of $1000.00, keep the amount on that card around $350.00 to improve your credit score.

Pay Your Bills on Time

Be sure that you consistently pay all your bills on time. Paying your bills on time is the one of the main elements that the credit bureaus use in calculating your credit score. (35% of your score is based on payment history)

Pay more than the minimum due on each credit card, only paying the minimum due is a sign you could fall behind on your payments and you may be a high risk.

Close Un-Used Credit Cards

Simply destroying your cards doesn’t work. You need to call the credit card company and request that they close your account so that it no longer shows on your credit report. This will help increase your credit score.

Refrain from Requesting More Credit

Each inquiry is reported to the credit agencies and multiple inquiries can negatively impact your rating. If there are no inquiries for a 2 year period, lenders are more willing to extend credit, confident that you will not overextend yourself and default on your payments.

Using these helpful tips can help you to increase your credit over time.

Source by Mike Reitz

Silk Draperies – Elegant Silk, Queen of Textiles

Interesting Facts

It’s a miracle at all that a tiny little caterpillar and its cocoon could be the source of one of the most beautiful textiles we know. Cultivated for thousands of years, silk continues to be the paragon of elegance and refinement. It is also amazingly versatile, taking many forms. Silk threads can be woven into gossamer sheers or can be made into velvets; it is one of the only fabrics which has the capacity to keep you warm in winter but cool in summer. It is, because of its protein structure, it is the most hypoallergenic of fabrics.

The soft sheen which we recognize as unique to silk is a result of its prism like structure which refracts light entering and leaving it at differing angles…there is nothing like silk.

Today’s faux silks are remarkable for their ability to mimic both the appearance and the “hand” of fine silk. Seen by themselves, they are quite convincing and an economical and practical alternative for those with budgets or performance related issues.

The real deal however is not inexpensive. The relative high cost of silks are due to the labor intensive methods that must be used to cultivate them. It takes about 2500 cocoons to make one pound of silk; each cocoon containing one continuous thread measuring about 2/3 of a mile.

Working With Silk – Silk is the strongest natural fiber known to man, equivalent in tensile strength to steel. Ironically, exposure to sunlight is quite detrimental to silk fabric causing it to become brittle and experience “dry rot”. Therefore when working with silks as window treatments, they should not only be lined but also interlined. This is essential as it wouldn’t be very long before your un-interlined treatments would be ruined. Readily available from many catalog companies are silk panels for what seems like a very good price. These are never interlined, nor are they custom grade goods. It’s important to remember that they are ready-made quality.

The investment in silk would be money poorly spent if it weren’t honored by making it into something custom, complete with all the special techniques and handling that silk fabrics require. Workrooms demand a higher price for working with silk, hems and sides need to be hand finished as the fabric is too slippery to run through the machines, and yes, they need to be lined and interlined. Only the best stitchers in the workroom are allowed to work on silk. This is because the stitchers who are highly skilled do not make mistakes. Stitching a seam and having to rip it out is not a healthy thing for silk; it leaves a line of demarcation and you can see the prior needle marks.

Silk is not for everyone. Often my clients will ask for silk. As it is such a specialized textile, it is my obligation as a designer to advise them of the pros and cons of using silk in all sorts of home furnishings.

Firstly it is a lifestyle fabric…while silk is tremendously strong, it is also compromised by sunlight therefore, I don’t recommend it for south facing windows and/or rooms with abundant all-day lighting even if the treatments are interlined. The only exception is if there are some sort of light-filtering shades in the windows as well as the draperies. Silk is also is subject to spotting if it gets water on it so I will not use silk on any window where it may be subject to splashing or humidity.

Secondly, it is a natural fabric and inherent in it are all the irregularities which give it its character and texture. It is not perfectly smooth or uniform. It also wrinkles, not in the way that linen does but in the way that it sits or as we say in the trade, its “hand”. Silk has a stiffer hand and tends to fall in sculpted folds. This is unique to silk and treasured for that very effect. If you are someone who doesn’t like irregularities or “wrinkles” then silk is not for you! Puddled draperies in silk are the epitome of elegance; in fact I like to see silk draperies made with a generous allowance for such. While you certainly can make drapery panels without the puddled effect, I think that doing so is not taking advantage of one of the most beautiful characteristics of silk. Silk draperies, Roman shades or valances in a dining space…lights dimmed, candles lit…there is nothing like the unique quality of silk and the way that it handles light to create the most delicious atmosphere. It will enhance your dining and entertaining experience.

Silk can be for everyone If… The good news is that silk blends beautifully with just about most any other fiber so while 100% silk may not suit your lifestyle or sensibilities, perhaps one of the silk blends might. Silk/linen and silk/rayon blends perform beautifully and still manage to impart the special quality of light for which silk is known. Often fabrics will contain as little as 7-10% silk which is just enough to impart that special sheen. So if you think you can’t afford silk or don’t want to be bothered with its fussiness, ask your designer to show you some silk blend fabrics for your next project.

Source by Beverly Ferguson

Owner Builder Financing Without A Contractor’s License

So you’ve done some research on owner builder financing… Maybe you’ve called you’re local bank and said, “I want to build my own home, I need owner builder financing.”, and they basically said, “Good luck finding that!” Well, loans for owner builders do still exist and you don’t need a background in home building to get financing.

You’ll find that some lenders call a program that they have, an owner builder financing program, only to find out that what it really means is that they will let you build your own home if you’re a General Contractor. That’s still great for those with Contractor’s licenses, but what about your average working family with no experience and no license? Most banks require you to have a license or require an approved/preferred site supervisor. Some require an approved builder. What do you do if you want to build your own home, but don’t want to use a builder or site supervisor. Read on.

The internet is a great tool to start searching to see what your options are when you’ve been turned down for owner builder financing locally, so for that I applaud you for finding this article.

Owner builder financing is slowly becoming harder and harder to find mainly because of the current state of the mortgage industry. With all of the foreclosures being filed all across the country, lender guidelines are becoming tougher to meet. Stated income and no doc programs are nearly gone, although there are a hand full of lenders who will still fund them with limited to no documentation to good borrowers. With guidelines stiffening, large lenders are shifting towards A paper loans with very little risk, especially when it comes to owner builder loans. But, this doesn’t mean that every lender has stopped lending money to owner builders, it’s just harder to locate one that will.

Every month, hundreds, if not thousands, of people are looking to the internet to locate and owner builder financing company, but there are a few to be found by searching alone. And, if you do find one, there’s a chance that they do not lend in your state. So, what do you do?

Well, credit unions enjoy funding owner builder loans, it’s just a matter of finding one that can help you in your local area. They usually have great terms for their owner builder financing programs and understand that type of construction loan. Otherwise, your other option is to locate an owner builder consulting company who has probably done all the research for you who can help you with the financing through one of their lenders. A plus to using an owner builder company is that, for a small fee, you can obtain better terms on your loan, like 100% financing for land, all materials, and labor. The reason, because of their involvement, either as a site supervisor or remote consultant, your success as an owner builder increases, therefore it’s less risk for the bank.

One thing to watch out for, are owner builder companies who charge outrageous fees. Some owner builder consulting companies charge such a ridiculously high fee that hiring a General Contractor would have cost you the same.

One excellent program for owner builder financing is construction to permanent loan, this is one loan for the land, construction, and permanent mortgage once your home is complete. This is the best type of loan available for your average size home. You have one set of closing costs for what is traditionally three loans. It works like a normal construction loan, but once you reach completion of your home, it is modified to a permanent mortgage, such as a 30 year fixed, a 15 year fixed, or some type of ARM loan.

Owner Builder Financing Rates

Construction loan rates for owner builders is not terribly insane. People are concerned about paying a high interest rate during construction and should be, but the truth is, construction loan rates are not that bad. The bank is taking a huge risk on you upfront, so to be able to build your home for less than 8.5% during construction would still be a great deal, but the truth is, rates can be even lower than this. Of course after the construction period and you modify to a permanent mortgage, rates should be in the ballpark of what market rates are at that time. There are some loan programs that allow you to lock in your permanent rate before you even start construction.

For owner builder financing approval, you are basically qualifying for the end loan, this is what makes the construction loan possible. Although, if your construction loan term goes over the set 6, 9, 12 month period, whatever is designated by the lender, you may need to be approved again for the end loan.

Construction interest can be paid during construction or some programs allow your construction interest to come out of your construction loan during your build. However, if you do have to pay interest during your construction loan period, you will only be paying interest on the amount that you have currently drawn on. For instance, if you have just closed, you are only paying interest on the amount that was paid by the bank for the land. As you build and draw additional funds for the project, your interest payments will increase. This is a great incentive to make sure that the construction of your home is going as planned and that the project is always moving right along.

Owner builder financing is still available and is not going away any time soon. As long as lenders scrutinize each project so they limit their risks, owner builder financing programs should be around for some time to come.

Why? When you apply for a construction loan, you are budgeting that you can build your house for 85% of what it will be worth, depending on the lenders guidelines. This means that if your home will be worth $100,000 at the end of construction, you should be able to build it for $85,000. Some lenders are tighter on these rules and require that number to be higher or lower, but for the most part, you are required to qualify under ‘future appraised value’ or ‘cost to build’.

Soft Market Areas

In this day and age, there are areas that are designated as soft market areas due to the rate in decline of house values within a certain county, geographical location to a declining area, or zip code. What does this mean for you? Well, if you plan to build in a soft market area, you will be required to bring some money to the closing table either in the form of cash or equity in the land you already own. Most lenders require a down payment of 10% upon closing if you plan on building in a soft market. Some lenders require 20% down. Owner builder financing is still available in these areas, but a down payment is needed.

Owner builder financing is available and can be located either locally or through a nationwide lender to build your own home without having to carry a contractors license.

Source by Shane Lee

Ply Lining Your Commercial Van

Your van needs to be maintained to a good standard; which means that you will regularly need to carry out a check list of items to ensure it doesn’t end up needing unnecessary repairs due to premature wear and tear. One way that you can help towards this can be by fitting a ply lining inside your vehicle.

Ply lining means having sections of plywood attached to the inside of your cargo area or, in some cases, the passenger cab also. There are a number of benefits and advantages to this; with most commercial vehicles it is extremely likely that heavy and large items will be transported and moved within the cargo area, all of which can cause damage. Fitting a ply lining to commercial van such as a Ford Transit or Ford Transit Connect can significantly protect and deter scrapes and bumps that happen over its working life.

For ease of installation most suppliers sell kits that are already measured and prepared for easy installation straight from the container depending upon your model. This also means that should you need to replace a certain panel it will be just as easy to remove. Should you be good with your hands you may well be able to make your own ply lining panels for your van. This will, of course, take more time than buying the parts but will certainly work just as well; it just depends on your handicraft skills!

When it comes to selling your van, you will find that ply lining is a great advantage; removing the panels will give a potential buyer a good impression that the vehicle has been looked after and is a good investment. Should you be looking to invest in a new commercial van you will find that many do not have ply lining as standard, some newer models though may have similar and just as effective systems in place.

For many companies, a van is one of the largest investments that they will have to make, so this small investment could mean an overall saving and will stop wear and tear, meaning you won’t have to purchase a new vehicle due to unnecessary damage.

Once you have ply lining in place it means you are ready to have any other accessories added to help with space saving and safety. Items such as shelving, racking and window mesh can help with a wide number of features such as safety, space saving and security.

Source by Thom Sanders

Limitations of Financial Ratio Analysis

I am a big fan of ratio analysis for small business owners. I don’t have to inspire large company CFOs and Controllers to perform ratio analysis, because it is their daily bread, but I find that many small business owners have not yet gained an appreciation of what financial ratios can do for them.

But as much as ratio analysis can help you, it can also mislead, so I thought it would be good to delve into the limitations of financial ratio analysis today.

Ratio analysis can be only as good as the underlying data

Ratios are absolutely wonderful. They boil down a complex set of numbers and relationships to a simple, 1 or 2 digit number which tells you volumes! But beware… What if those complex, underlying data are not accurate? Many important decisions are made because a ratio has changed by 1 or 2 percentage points. Given that, your accountant better make really sure that the calculations can be relied upon.

In the small business environment things like reconciled trial balance (yes, not only the bank accounts!) and monthly, reviewed financial statements cannot be taken for granted. Many small businesses do not have adequate accounting systems in place nor do they all have competent accounting personnel making sure the monthly financial results are not only available, but actually accurate.

Calculating any ratios based on questionable data and an unreconciled set of books can be very dangerous. So, before any analysis is even attempted, the accounting records must be brought up to par.

Ratio comparisons can be meaningful only, if data is truly comparable

It’s a challenge to achieve comparability among different firms, even in the same industry. Different depreciation methods, different inventory valuation methods used, different policy regarding capitalization of certain expenditures make it very hard to arrive at financial statements which can be compared meaningfully.

But even comparisons of different periods within the same company can get tricky. I have seen many small businesses with a high turnover of the bookkeeping/accounting position and my review of the general ledger revealed often that there was no consistency in the way many transactions were posted by those different people. This would make comparisons less valuable than they could otherwise be. This brings us back to our first point – accounting records need to be not only accurate but also consistent.

Ratio analysis reflects only what is in the financial statements

Obviously, financial ratios will reflect only what is contained in the financial reports of the company. And as valuable as that can be, it does not capture many factors which can have a profound impact on the business and yet cannot be quantified or expressed in accounting terms.

I remember acting as a part-time controller for an insurance firm which has just been purchased by an international player. The President was given a certain ratio as a target for his accounting department salary costs. Based on this ratio, he couldn’t add a single person to his accounting staff. On the contrary, to meet the target, he would have to let some people go first.

But that didn’t take into consideration the particular situation this company was in. Due to historical reasons, the staff had very low qualifications, systems were old and the only way out was to bring a strong full-time controller or CFO to reorganize the department. The target ratio wouldn’t allow for that. But it was the best thing to do in those circumstances. Intelligent leadership will recognize such limitations of ratios and make the right business decisions anyway.

Other factors not contained in the financial statements can be technological developments, competitor’s actions, government actions, etc. All elements with potential impact on the business need to be evaluated when making important decisions, not only financial ratios.

Still, financial ratio analysis is a key component of those decisions and I would venture to say that a company which doesn’t avail itself of this information is at a disadvantage.

Source by Lucy Rudnicka

I Have a Van – What Kind of Business Can I Start?

A few week ago, I was sitting on the outdoor patio in one of our shopping district having one of their signature sandwiches, and I brought my own frappachino from down the street. Since I was sitting at the end table I noticed a gentleman delivering magazines and newspapers to various businesses on the street. They were those local regional advertising type publications, and he was making his rounds. Interestingly enough, I met up with him just the other day, and he’d come into Starbucks on a completely different side of town and we got to talking.

He told me that he had lost his job working for a local utility company, but he had his van, and it was paid off, and that’s why he was delivering those newspapers. He admitted to me that he only had a couple of dollars left on his Starbucks card, and was trying to get it from the heat into the air-conditioning, so he had himself a small cup of coffee house blend, and we got to talking about the various types of businesses that he might be able to start using his van, because the newspaper delivery gig was simply not paying enough money by the time he paid his insurance and the fuel.

Indeed, I explained to him that once upon a time I was in the mobile auto services sector, and I had franchised mobile oil change vans, mobile detailer units, and mobile car wash trucks. I explained to him that he could start such a business working out of the back of his van, and that he could do it on a shoestring. For instance if he wanted to get into the mobile detailing business all he needed was a water tank, a pressure washer, a portable generator, and a shop vac. He said he did have a portable generator and a shop vac, but he’d need to buy a plastic water tank and a pressure washer.

I told him he should go down to Home Depot and check out the sales, and he might be able to pick up a pressure washer there or at Walmart for around $100, even if he just bought a cheap Chinese version. The water tanks I told him he could probably order online from agricultural supply company, but it might take a while to come by way of UPS.

He thanked me very much, and told me that when he was younger he used to like to detail his own car, and he felt comfortable with that type of work. Perhaps if you own a van and would like to start your own small business because you’ve been laid off, this might be an idea for you. Please consider all this and think on it.

Source by Lance Winslow

Law Book Review: Land Laws Under Single Shadow

Book’s Title: Lectures on Land Law

Author: Dr. Mohammad Towhidul Islam

Publisher: Northern University Bangladesh (NUB)

First Published: June 2013

Price shown: 500 Taka

Pages: 546

There exists a common perception in our country that laws relating to land are complex and it is expert job to understand and apply the law. Indeed, it is true that the method of land measurement system requires expert knowledge. Moreover, units to measure land are quite peculiar and not universal across the country. On the contrary, because of high growth of population and scarcity of land, land related disputes are increased day by day, which possessed about 80% of our total civil litigation.

However, apart from these scenarios, there is also real scarcity of a single academic book, which contains all aspects of current land laws. Because the area of our land law is gigantic and these subject matters are discuss individually in numerous books. When I started my carrier at an university, I was assigned to conduct classes on land laws. I can remember those days when I felt unaided because of my failure to discover an useful sole book on land laws. Consequently, I suggested a lot of books to my students, which ultimately fall them in a worthless deep ocean, where they just found mostly repealed, scattered, intricate and to some extent valueless laws. I want to give thanks to Dr. M Towhidul Islam, who takes initiative to rescue the students from that bottomless marine by his new book titled “Lectures on Land Law”.

Our customary scholastic land law books typically contain history; the State Acquisition & Tenancy Act, 1950; the Non-Agricultural & Tenancy Act, 1949; provisions of pre-emption; alluvion-diluvion, acquisition-requisition and some other portion of land law individually while this book covers creation, transfer and extermination of land rights in single cover. This discussed book introduces immutable facets of land law under a single shadow, which includes provisions relating to registration, easement, public demand recovery, trust, lease, mortgage, transfer of immoveable property and other inalienable materials concerning real property; though precisely. Normally we studied these topics separately whereas global students follow this pattern to study real estate law all over the earth.

This distinct book also discusses on almost all indissoluble parts of land law i.e. land administration, settlement of Khas land, Khatiyan, mutation, land taxes etc. Author mainly formulates this book by his class lectures, which also reflects in the name of his book. Consequently, the book will be more accessible for the teachers and students to realize multifaceted issues of land law in easy and class friendly way. More importantly, Dr. Islam release them form buying topic wise books. Another reason behind intricacy of land law is use of obscure words and foggy languages even in Bangla books whereas Towhidul Islam constructs every sentence intelligibly. Now students will obtain dual benefit from this single book; one is purely academic knowledge and rest on is practical aspects like dispute, which is more important for a to-be lawyer.

Lectures on Land Law is inimitable because it creates scopes for further discussion and I believe that the author will be able to arise question in readers’ mind and it will help them to increase their curiosity to unveil the untouched corner of land management instead of reluctance and complexity to land matters. In addition, this Asso. Prof. of law also writes his book in such a lucid manner where his prospective readers can find a scope to think from practitioners’ perspective.

First chapter of the mentioned book deals with importance of studying land laws and introductory issues. In next chapters (2-4) the writer enumerates historical development, ownership and land administration in Bangladesh. Chapter five of this book handles with acquisition of Zamindary system and its impact. The next following chapters (6-9) elucidate tenancy rights, record of rights, transfer, consolidation, amalgamation & sub-division of land. Then in chapter ten & eleven, Dr. Islam narrates about registration and procedure of mutation. Subsequently, he inscribes about pre-emption, sub-letting, alluvion-diluvion, easement and prescription in chapter 12-15 respectively. After that, in chapter 16-18 the book illustrates provisions regarding acquisition & requisition of land, abandoned and vested properties. Later, Towhidul explains land taxes, certificate cases and management & settlement of Khas lands in chapter 19-21. At last, in chapter 22 this faculty member of DU articulates process of land reforms that can aid the community to ensure economic and social justice by providing painless and equal access to land and land administration in Bangladesh.

The book is not comprehensive one rather a beginning for further thinking. However, the piece could be a good instrument for the students to cope with current land laws. I trust, it will also be able enough to inspire them to explore untouched corners of land matters and land related injustice of the country. I hope author will insert more illustrations, maps, images, charts, forms & case laws in its upcoming version to make the book more easy for the lay man also. The book is mainly aimed for law students; nevertheless, I expect it will also be a supportive material for academicians, lawyers, judges, researchers, NOGs and interested readers to diminish their inquisitiveness.

Source by MD Raisul Islam Sourav

Sales Tax Items And Sales Tax Codes In QuickBooks – How They Work

Are you confused about Sales Tax Items and Sales Tax Codes in QuickBooks? I was too! It took me forever to finally figure out what they actually did, how to get the sales tax liability report to look right, and where they showed up on that report. After reading the QuickBooks help, and reading tons of articles online, I still had no clear answer. But I finally figured out how to set things up in a way that makes sense to me – I hope it makes sense to you too.

We’re going to discuss the proper setup of sales tax items and codes; proper setup of customers for sales tax reporting; the difference between sales tax items and sales tax codes; using sales tax codes; and running sales tax reports in QuickBooks.

Proper Setup of Sales Tax Items and Sales Tax Codes

These guidelines assume that you have no Sales Tax Items or Sales Tax Codes set up yet in QuickBooks. However, many of you reading this already do. If this is the case, just go through your lists and see if your items and codes are set up like these. IMPORTANT: I strongly suggest that you do not change anything in your QuickBooks file until you read this entire article and understand it!

First, determine how many sales tax agencies and rates you need to report. You will need to set up your Sales Tax Items depending on this information. If you are unsure, contact a local accountant.

Here’s how to set up the Items and Codes:

From the Items List, press Control-N. Select Sales Tax Item. Enter a name for the sales tax – something simple is fine, something that makes sense to you. Enter a more detailed description on the next line. Enter the tax rate, and choose the state reporting agency where the tax will be remitted.

Then, set up a non-taxable Sales Tax Item. From the Items List, press Control-N. Select Sales Tax Item. Item name should be Non-Taxable Sales. Enter a brief description, and 0.00% for the rate. Even though this is non-taxable, select the main tax agency you use.

Next, setup your sales tax codes. It will be helpful to have your sales tax return in front of you to do this. For example, for California, on BOE-401-A page two, there is a list of all of the reasons sales may be non-taxable. Here are some of them:




Sales to the U.S. government

Out of state sales

From the Lists menu, select Sales Tax Code list. Then press Control-N. Enter a three-character code and description for each. For example, for non-taxable labor, you can use a three-character code of LBR, and a description of, “Labor Sales – non-taxable.” Do this for all of the reasons that sales are non-taxable. Make sure the Non-taxable circle is selected.

For taxable sales, set up a Sales Tax Code called TAX. Write a brief description. Make sure the Taxable circle is selected.

Proper Setup of Customers for Sales Tax Reporting

It’s important that the customers are set up correctly, because when invoices are generated, they will default to the setup you use here.

Go to the customer list, pick a customer you want to examine, right click, and select Edit Customer:Job. Click the Additional Info tab. In the bottom left area you will see Sales Tax Information.

First, select the Tax Item box. If this customer lives out of state or is otherwise non-taxable, select the Non Taxable sales tax item you established above. If the customer lives in-state or is otherwise taxable, select the Taxable sales tax item you established above.

Next, select the Tax Code box. If the customer is out of state and non-taxable, select the code, “OOS.” If the customer is the U.S. government, select the tax code you established for these types of sales. If the customer is in state, select the code, “TAX.” Generally, you will only need to use these codes in these screens for all customers.

Any time you generate an invoice for your customers, QuickBooks will default to the sales tax items and codes you established in the Edit Customer:Job screen.

Understand the Difference Between Sales Tax Items and Sales Tax Codes

The Sales Tax Item tells QuickBooks how much sales tax to computer for a given sale. On invoices, they are located just above and to the left of the Total. Sales Tax Items are pretty straightforward to understand and use.

The Sales Tax code tells QuickBooks why the customer or sale was taxable or non taxable. They are located along the right side of the invoice screen. Also in the invoice screen, in the grey area above the Memo line, you will also see a box that says Customer Tax Code. This defaults to the Tax Code you established above for each customer.

Sales Tax Codes are important, because the California sales tax return BOE-401-A requires that non-taxable sales be itemized. If the codes are setup and used correctly in QuickBooks, the reports will show this itemization.

Using Sales Tax Codes

As a general rule, anytime you have an out-of-state customer, you will use the Non Taxable Sales Tax Item, and the OOS Sales Tax Code. My recommendation is that even if there is non taxable labor or non taxable shipping on the invoice, do not change the codes, still use OOS.

For taxable customers, use the Taxable Sales Tax Item on their invoices. However, you may need to use different Sales Tax Codes on different lines. For example, you may sell some products to a customer, but on the same invoice you may have non-taxable shipping or labor. You will need to make sure the SHP or LBR codes show up correctly, and that the TAX code shows correctly along the right side of the invoice. This will compute sales tax only for your products, and not for your shipping and/or labor.

Running Sales Tax Reports in QuickBooks

If you’ve taken the time to get everything set up correctly, you efforts will pay off when it’s time to run sales tax reports!

From the Vendors menu, select Sales Tax, then Sales Tax Liability. Make certain of the date range, that it matches the date range of your sales tax return.

You will see several columns, most notably Total Sales, Non-Taxable Sales, and Taxable Sales. Notice that the Sales Tax Items are listed down the left side, underneath the state agency. Also notice that the Sales Tax Codes do not appear on this report.

In order to see the Sales Tax Codes (remember, these are the reasons why sales are taxable or non-taxable), go to the Non-Taxable Sales column, and find the amount that intersects with the Non Taxable sales row. Double click. This report will show all of the amounts used for the Sales Tax Codes for Non Taxable sales. Use this information to help you prepare your sales tax return (for California, this information should appear on BOE-401-A, page 2).

The Sales Tax Liability Report can be used to finish the rest of the sales tax return.

Final Thoughts

Sales tax collection and reporting is very complex, and varies considerably even from city to city in some cases. These guidelines are intended to be general in nature, giving a broad overview of the sales tax process in QuickBooks. If you need more help, please refer to a professional who can help you make sure everything is set up according to your unique location and needs. If you wish, you can experiment with the ideas here in a Sample Company File, which was loaded onto your computer when you loaded QuickBooks.

Source by Jennifer A. Thieme

Effective Financial Goal: The Five Characteristics

In financial management studies, an effective financial goal should have 5 characteristics which could be easily remembered as SMART. The following paragraphs explain all the 5 characteristics:

1) Specific

We might be thinking of being financially free but do you know what it takes? This goal is seems to be too general. Our goal needs to be specific so that we can focus particularly in each area of ​​financial planning and easily to manage our own expectations. Specific goal normally has only one outcome.

For example, goal to invest RM200 per month in unit trust and accumulate at least RM2400 in a year; or spend within our budget every month. These specific goals are going to have different outcomes but when combined, they will ensure our cash flow to be healthy. When each specific goal is accomplished, we are getting nearer to financial freedom.

2) Measurable

We might be working very hard, but how do we know whether our goal is achieved? Therefore, our financial goals should be quantifiable.

For instances, we want to invest and accumulate RM50,000 in 2 years and the progress can be easily quantified by looking at our investment account statement.

In fact, we must be able to measure or review the progress of achieving the goal such as calculating our current net worth, debt-to-income ratio and reviewing, return-on-investment (ROI) and our current insurance policy. It is good if we can keep a journal and review our current planning.

3) Achievable

Many people are influenced by the 'Law of Attraction' and believe that 'nothing is impossible'. Because of this, we're tend to set difficult goals which require great effort. However, are these goals realistic and achievable? It's important to know whether the goal is within our potential and logical norm.

For example, if your target is to achieve RM1 million in a year by only investing RM1000 per month in any scheme. How likely can these be achieved? In fact, such investment scheme will require very high ROI within a short duration and often comes with very high risk. You might lost your capital easily.

The most importantly, we should not stretch ourselves to achieve unrealistic goals. This is to avoid frustration over failure which could ended up in great disappointment.

4) Rewarding

We want to achieve a goal because want to get something in return or else nobody will work hard. While working towards goal achievement, we must be certain on the outcome to be achieved and it's importance to our life. In fact, it must be meaningful and enjoyable.

For example, a man wants to invest his money to accumulate education fund for his son in 20 years. In the future, this goal will be rewarding because his son will be able to enroll into higher education.

However, the rewards could be in any form such as material, financial, relationship and spiritual.

5) Time-bounded

We need adequate time to achieve our goals. It could be short-term, medium-term or long-term, depending on the type of goals to be achieved. Timeliness has been an important aspect in life. Therefore, we should allocate a time frame to avoid procrastination. It will be good if we can set a schedule for everything to be done.

For instances, saving for retirement would require many years because it is a long-term planning and involved huge sum of money. Therefore, planning for retirement in a short-term (1 to 5 years) could be unrealistic unless someone is willing to have huge commitment on this.

In brief, time is priceless because it gives chances for development and create greater outcomes. Therefore, the wise man always said, 'start early and stop procrastinating'.


An effective financial goal would always has these SMART characteristics; Specific, Measurable, Achievable, Rewarding and Time-bounded. This is to ensure that our goals are meaningful and get us closer to financial freedom. Good luck in your goal setting.

Source by Isaac Wong Mun Yew