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50/20/30 Budget Rule Explained

Senator Elizabeth Warren popularized the 50/20/30 budget rule in her book “All Your Worth: The Ultimate Lifetime Money Plan.” The basic rule is to divide after-tax income, spending 50% on needs and 30% on wants while allocating 20% to savings. Needs Needs are those bills that you absolutely must pay and are the things necessary for survival. These include rent, car payments, groceries, insurance, health … Continue reading 50/20/30 Budget Rule Explained

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Signs your Small Business needs a CFO

When should a small business owner hire a CFO? While there is no right answer, there are certain indicators. What are some internal indicators that a small business owner should hire a CFO? An important internal tipping point is when information that helps the business make timely and important decisions is not being prepared. Business owners make decisions at the pace of the business and … Continue reading Signs your Small Business needs a CFO

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Benefits of Bookkeeping

Without bookkeeping, it’s impossible to measure the true success or failure of your business dealings. You won’t know that your 2,000 rs per-month magazine ad campaign isn’t worth the investment. You’ll have no idea why you barely have enough money to operate your business, and you won’t know where the money went. A smart business owner realizes bookkeeping has several undeniable benefits. Cash Management Benefits … Continue reading Benefits of Bookkeeping

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FINPERIAL organises Financial Literacy seminar in Islamabad

Finperial is a startup providing financial consultancy to other startups and SMEs based in Twin cities. ICON event management and Be The Change along with Finperial organised a free financial literacy seminar for non financial entrepreneurs in Islamabad on 14th September 2019. The event was held at WeCreate Centre F11. Hira Jalal ACCA, founder of Finperial was the keynote speaker. The seminar was attended by … Continue reading FINPERIAL organises Financial Literacy seminar in Islamabad

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SMALL BUSINESS: Financial Statements

As a small business owner, you wear a lot of hats. One of those hats might be CFO, but even if it isn’t, you need to have a basic understanding of financial statements for small business and what each one tells you. Knowing how to read and understand financial statements is useful not only for your business but also for personal finances, work on volunteer … Continue reading SMALL BUSINESS: Financial Statements

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Finance for non-financial entrepreneurs

This free workshop helps start-ups and small business owners understand material related to business accounting and entrepreneurial finance. In this workshop, you’ll gain a basic understanding of finance, accounting and tax concepts to drive the success of your business. This workshop is worth PKR 1500, however we will be running it for free. It will run for 2 hours (5pm-7pm) on Saturday 14th September 2019 … Continue reading Finance for non-financial entrepreneurs

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A little mistake can hurt you BIG TIME.

Be very careful while filling income tax return 2019, which will be open around September 2nd or 3rd. FBR will be using systematic matching technique to catch those who fill incorrect information or hide assets. Accordingly to experience Tax payer makes 5 common mistakes. Hiding Tax on Education local section 236I & Aboard 236R both, Kindly avoid this mistake. Hiding Capital loss on securities : … Continue reading A little mistake can hurt you BIG TIME.

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Virtual CFOs – You need one! Even ICAP agrees.

ICAP’s Magazine “The Pakistan Accountant” published an article on “How Virtual CFOs reshape growing business” FINPERIAL is incomparable in this area and has been promoting necessity of CFO’s for businesses and providing quality services of Virtual CFO in Islamabad and Dubai. Contact us today to discuss how we can provide you premier services without any significant investment. 0336 5116392 finperial@gmail.com Incase you need to read … Continue reading Virtual CFOs – You need one! Even ICAP agrees.

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FBR – Take Action if Sales Tax is Wrongly Charged

Federal Board of Revenue (FBR) on Saturday urged people to file complaints against businessmen who are charging sales tax without registering themselves under sales tax act. According to details, FBR has issued a circular which states that general public has reported complaints against the businessmen who are charging sales tax from consumers without being registered with FBR under the Sales Tax Act-1990. “It is, therefore, … Continue reading FBR – Take Action if Sales Tax is Wrongly Charged

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Inflation might further go up but in the long term Pakistan is looking at growth- IMF

IMF resident representative Teresa Daban Sanchez in Islamabad outlined some restraints, deterring Pakistan to utilize $6 billion 39-months bailout Package. Referring to CPEC projects, she said it’s largely a commercial venture in power and infrastructure areas of Pakistan. She acknowledged the fact that CPEC helped Pakistan deal with severe power shortfall. She rebuffed the perception about Chinese Debt Trap and expressed that the debt sustainability … Continue reading Inflation might further go up but in the long term Pakistan is looking at growth- IMF

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New deadline by FBR- August 9th 2019

The Federal Board of Revenue (FBR) extended the deadline for filing of income tax returns for the year 2018 to August 9th 2019 coming Friday. “In Continuation of Circular No. 07/2019 dated 02.07.2019 and in exercise of the powers conferred under Section of 214A of the Income Tax Ordinance, 2001, the Federal Board of Revenue is pleased to further extended the date of filing of … Continue reading New deadline by FBR- August 9th 2019

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Quetta: 4 martyred, 30 injured including 4 critical.

Latest update 4 dead and 30 injured in an explosion at Mezan Choke Quetta . It is a really sad moment for us😭. May the soul of martyrs rest in Jannah. (Ameen) Pak army #PlaneCrashed in residential area in Rawalpindi, 17 died, many injured Continuous firing of indian army in Leepa Valley and Neelum Valley, 3 died, 35+ injured Blast in #Quetta, 4 died, 32 … Continue reading Quetta: 4 martyred, 30 injured including 4 critical.

Underrated Hero Dies at 74, he invented cut,copy and paste.

Larry Tesler, the computing pioneer behind cut, copy and paste, has died at the age of 74. The IT whizz was born in the Bronx, New York, in 1945, and later studied computer science at Stanford University in California. Tesler’s prime focus was always human-computer interaction (aka user interface design), putting his skill-set to work at the likes of Amazon, Apple, Yahoo, and the Xerox … Continue reading Underrated Hero Dies at 74, he invented cut,copy and paste.

Difference between Net Sales and Gross Profit?

“Net sales” and “gross profit” are similar–but not identical–concepts in business economics. Like the similar phrases “gross profit margin” and “net profit,” both of which can easily become confused with either of the other two, they’re different ways of measuring the influx of money into a company. Identifying the separate values allows business accountants to pinpoint what’s working and what isn’t with the structure and … Continue reading Difference between Net Sales and Gross Profit?

How to Calculate a Blended Gross Profit Margin

How to Calculate a Blended Gross Profit Margin Gross profit margin is a ratio that indicates how much of a company’s revenue represents earnings before selling and administrative expenses. A business can calculate a gross profit margin for an individual product or it can calculate gross profit margin for all sales across all product and […]

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Understanding Variable Costs

Variable costs are business expenses that directly relate to the volume of production or product acquisition in a company. In contrast, fixed costs are those that remain constant regardless of a company’s output. Manufacturing materials, labor expenses and transaction fees are some of the most common examples of variable costs. Manufacturing Materials Direct manufacturing materials may be the purest example of a variable cost in … Continue reading Understanding Variable Costs

FFC welcomes Govt decision to reduce GIDC prices by 400 Rs

A press briefing was conducted by Chief Executive and Managing Director (CE&MD) Fauji Fertilizer Company (FFC) Lt Gen Tariq Khan HI(M), (Retd) aimed to apprise media and general public about misperceptions on reduction of Gas Infrastructure Development Cess (GIDC) issue and also explain facts and figures to quell negative image being associated with FFC.However, ratification of ECC’s recommendation by Federal Cabinet and the Government’s notification … Continue reading FFC welcomes Govt decision to reduce GIDC prices by 400 Rs

How to: Calculate COGS

COGS, or cost of goods sold, is a calculation frequently used in businesses to determine the direct expense of production of a product. The COGS includes the cost of the materials used in creating your product and also includes any labor used to get the product to market. Distribution costs and sales team costs are never included in the COGS formula. Your business’ income statement … Continue reading How to: Calculate COGS

How to Calculate Costs Per Square Foot for Manufacturing

If you are in a manufacturing business, your company will have manufacturing costs. These costs appear on your company’s general ledger and are eventually transferred to the company’s income statement. If part of your manufacturing process requires a factory, the total square footage of your factory will help you determine your manufacturing costs per square foot. Shrinking your manufacturing costs per square foot will save … Continue reading How to Calculate Costs Per Square Foot for Manufacturing

Happy birthday M A Jinnah and Merry Christmas 🎄

You are free; you are free to go to your temples. You are free to go to your mosques or to any other places of worship in this State of Pakistan. You may belong to any religion, caste or creed—that has nothing to do with the business of the state. M.A Jinnah Warm greetings and best wishes to all on this joyous occasion of #Christmas Continue reading Happy birthday M A Jinnah and Merry Christmas 🎄