4 Bookkeeping

Bookkeeping

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

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

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

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

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Out Of Control Government, Out Of Touch Policiticans, and Other Madness - News - Opinion

I recently received my monthly edition of Reason magazine. Reason is a great source of articles from writers and journalists dedicated to preserving and expanding freedom in America. Their articles are detailed but easy to understand and serve no political party, just the pursuit of freedom. Each issue has its share of instances where our government, at all levels, is out of control and the politicians that run it are out of touch with reality, often making for some humorous but tragic wastes of taxpayer money and resources.

Below I have picked out some of these examples for you to laugh at and cry about:

- Katherine Mangu-Ward wrote about the bagel situation in the state of New York. Apparently, in New York state if you go to a bagel shop and buy a bagel, it will cost you $.08 more if the bagel shop slices the bagel in half for you. The $.08, of course, goes to the state government in a form of a tax for your convenience of having a sliced bagel. More confusing, if you eat an unsliced bagel at home it is untaxed but if you eat that same unsliced bagel while still in the bagel shop you are subject to tax. Thus, to avoid bagel taxation in New York state you should never ask the bagel shop to slice it for you or dare to eat a whole bagel while still in the shop.

- The same article goes on to point out that in several states, if you purchase a Hershey chocolate bar you have to pay tax on the purchase. However, if you purchase a Kit Kat bar, another type of candy which is covered in chocolate you do not have to pay tax because the Kit Kat bar has flour in it.

Both of these situations are examples of out of control government. These stupid rules take up valuable time and energy from business owners who have to understand and implement these requirements, time and energy that could be better spent serving their customers, expanding their businesses and maybe actually hiring more workers, reducing the high unemployment rate in this country. And who is responsible for these out of control government regulations? It is the out of touch politicians who concoct these stupid rules and laws with no sensitivity or experience on how the waste ripples through the economic system, hurting everyone in the process. Madness.

- The Milwaukee school system had to lay off hundreds of its teachers due to a budget shortfall. At about the same time, the teachers union had taken the school board to court. The reason for the suit? To force the school system's health insurance plan to cover ED drugs for teachers. The school board estimates that the benefit would cost about $786,000 a year. How many more teachers would have to be laid off, and how many kids would suffer as a result, if the school board actually loses this case? More madness.

- We have done this type of economic stimulus math before but a short article by Peter Suderman updates the numbers and confirms our previous math exercise. According to the Department of Energy's reports, it spent $1.9 billion of the stimulus money it received to create 10,018 jobs, resulting in a cost per job created of $194,213 per job. Since the wages of most of these jobs were probably far less than $194,213, we see yet another example of what a dismal and insane failure Obama's economic stimulus plan was. However, this is probably a best case scenario. Mr. Suderman goes on to explain that "jobs created" is probably a misnomer. As the economic stimulus money was spent and jobs were not "created," the administration solved the problem by just changing the definition of jobs created. That category was expanded to include new full time jobs created, new temporary jobs created, jobs saved, and the most ludicrous of all, "lives touched."

Thus, many of the 10,018 jobs created in the Energy Department could have included people who worked on an Energy project for two hours. That situation was given the same weight as if an unemployed American was given a 40 hour a week job. Seems the politicians were spending more time on concocting job definitions than actually creating jobs. Even our usually out of control government recognized the insanity with the Federal General Accounting Office calling the Energy Department's job estimates unclear, problematic, confusing, and potentially misleading. No kidding. When government calls the bluff on itself you know it is madness you are dealing with.

- The United States government has maintained a ridiculous trade embargo with the island nation of Cuba for about 50 years in an attempt to force Fidel Castro from power. However, 50 years later, Castro is still in power, many of the Presidents who continued the embargo are themselves dead, the United States deprives itself of a good sized economic market right off its shores, and the Cuban people have lived in poverty for 50 years, especially since the fall of the Iron Curtain when the support from Russia dropped dramatically. Typical U.S. government program: never ending, never accomplishing its goals, and the people of both countries worse off for the experience.

Why is stopping the trade embargo an important step? First, the United States should never condemn a group of people to a live of poverty because of who is ruling them. Second, as pointed out in this edition of Reason magazine by Ms. Mangu-Ward, opening the Cuban market to American goods and services could lead to American farmers annually exporting over $360 million a year of American food crops to the island, in the process feeding a hungry nation. It is madness that this has not happened.

- Talk about true madness, consider another article by Peter Suderman. This one concerns the health care reform package that Obama forced through the back door of reconciliation in the spring and the fact that a new Congressional Research Services (CRS) report stated that it is impossible to count or estimate the number of new government entities, boards, commissions, and organizations that will be created as a result of the legislation. Talk about out of control. Even the government cannot now estimate how big it will become as a result of politicians being out of touch with the root causes of rising health care costs. Specifically, the CRS reported that "the precise number of new entities that will ultimately be created pursuant to PPACA (i.e. Obama care) is currently unknowable."

The report went on to say that it is unclear how the General Accounting Office will be able to audit the new creations, it is impossible to determine how much power many of the new entities will have, and it is currently impossible to know how much influence the new organizations will have. Again, this is Congress talking about itself. We have created an out of control government monster with this legislation that is self reproducing, eating up taxpayer resources without solving any problems. The worst part of this monster is that many in the government bureaucracy and the political class will be part of the problem but no one will be accountable for the tragic results.

- If the latest CSR report shows an out of control government, then Health and Human Services Secretary Kathleen Sebelius is the perfect example of an out of touch politician. If experts in the Congressional Research Service cannot explain what is going on in the health care reform legislation after an extensive study, what chance does a single bureaucrat like Sebelius have of explaining everything going on as a result of the legislation? If Nancy Pelosi, who helped ram the bill's approval through, has publicly stated that we will not know everything in the bill until it was passed, a truly ignorant statement for a politician to say for a piece of legislation he or she is advocating for, how will anyone else know?

Apparently, however, Ms. Sebelius has got it all figured out since she was recently quoted as stating: "We have a lot of re-education to do" as it pertains to the legislation. If she has an education plan ready to go, maybe she should start over at the CSR since they have not figured it out yet, despite their best efforts. Madness.

- One last example of out of touch politicians, people who never understand the ramifications of their actions. The health care reform legislation is one example, an attempt to fix a problem spawns out of control government control and bureaucracy, among other catastrophes. A Reason magazine report by Brian Doherty discussed the cost of the wars in Iraq and Afghanistan. According to Mr. Doherty, the out of pocket costs for these two conflicts has so far reached about $800 billion. Thus, each American family, on average, has paid about $7,000 each to support both war efforts, $7,000 that could have been spent within the economy, contributing to economic growth and employment growth.

However, the $800 billion is just the current operating cost. According to the article, two economic and financial experts from Harvard and Columbia universities have estimated the true cost over time to the American public of both wars closer to three TRILLION dollars. Their analysis shows that the country was still paying for the effects of the first world up until about 1965 and for the second world war up until about 1980 as veterans and disabled soldiers needed to be cared for and interest payments on borrowed money spent to execute the wars was paid off. Just another example of out of touch politicians rushing off to do something without understanding the root cause and the true cost to the Treasury and the country's taxpayers.

Silly and sad at the same time. Just these few examples illustrate how, in a wide set of fields, we have allowed our political class, which has no grounding in reality, to create madness and an out of control government that results in lost freedom, wasted money, and non-solved problems. Besides stopping the Cuban embargo, other steps such as term limits that remove out of touch politicians before they can do real damage and a step that would implement procedures to punish existing politicians for the out of control and non-effective government programs they create are needed to stop the madness.

However, it is up to us to stop this madness by electing leaders, not politicians, regardless of what party they are from, that can understand all of the implications of complex problems and their proposed solutions, that can look at stupidity (e.g. Kit Kat is not taxable, a Hershey bar is taxable, a sliced bagel is treated one way, and unsliced another way) and say enough with the madness, and who have the fortitude an courage to focus on real issues affecting real American families. Until then, Reason magazine will continue to have endless material to talk about, material that unfortunately reduces our freedom every day

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Data show that in 2009 trade surplus of 1.038 billion U.S. dollars of Chinese music - News - Business News

National Customs Department announced that in 2009 China's import and export data instruments, Chinese instruments in 2009 exports 1.217 billion U.S. dollars, down 19.93 percent; the amount of 179 million U.S. dollars of imports of musical instruments, down 8.66%; total imports and exports 1.396 billion U.S. dollars, down 18.69 %; trade surplus of 1.038 billion U.S. dollars.Musical instrument into the Customs and Excise Department in 2009 numbered 21 major categories of export amount of all the musical instruments a downward trend. Among them, other stringed instruments, and stringed instruments the smallest decrease, respectively, 5.01% and 5.02%, down by a big margin of the grand piano, electric sound of musical instruments, decreased by 35.30% and 34.20%. Electronic keyboard musical instruments, and other stringed instruments, electro-acoustic musical instruments, percussion instruments, brass instruments total exports of 842 million U.S. dollars, the total amount of 69 .18% of export musical instruments.2009 Total exports of vertical and grand piano 48186, down 22.23 percent, of which export upright piano 42840, down 19.30 percent, with exports to 93 countries and regions, fewer than in the previous seven. The top five exporting countries and regions is the United States, Germany, Hong Kong, China, Korea, France, for a total export value of 28.02 million U.S. dollars, accounting for the amount of vertical pianos 55.30% of total exports. China's exports to the U.S. in 2009 upright piano 8065, a decrease of 20.20 percent, exports to Germany 5025, reduce 20.63%, Hong Kong's exports to China 4305, an increase of 15.57%, exports to South Korea 2609, reducing 35.39%, exports to France 2442 to reduce the 7.74%. There are 25 countries, the number of frame upright piano imports from China increased over the previous year, of which Uzbekistan from 3 to 168, Reunion from 1 to 15, in Nigeria from 4 to 19, North Korea from 116 to 429. 56 countries and regions, reducing the need for imports of Chinese piano, Russia, from 418 down to 112, Macau from 933 down to 284, the Netherlands from 2900 down to 1558, Japan, from 2096 down to 1291.China's exports in 2009 grand piano 5346, down 39.80 percent, with exports to 71 countries, a decrease of 17 countries and regions. Piano major exported to the U.S., Germany, Britain, Canada, Brazil, for a total export of 3495 Qin, the total number of 65.37% of export aircraft. Exported to the U.S. 2286, down 41.67%, exported to Germany 554, down 47.44 percent, exports England 261, down 25%, exports of Canada 207, down 23.90 percent, exports of Brazil 187, down 1.58%. 2009 Chinese Grand Piano exports from 30 countries and regions, increasing or flat, of which Uzbekistan from three sets to 23, the North Korea from 3 to 20, Qatar from 1 to 6, Syria from a frame to 5, Vietnam, from 3 to 11, Taiwan 8 to 25. There are 38 countries and regions to reduce the number of grand piano imports from China, the Russian Federation from 176 down to 19, South Korea from 353 down to 90, Denmark from 59 down to 15, Italy, from 272 down to 94, Germany from 1054 down to 554, Japan, from 236 down to 137.2009 China's total of 173 countries and territories around the world export of musical instruments, more than in 2008 an increase of 6 countries in Asia, an increase of 1, an increase of 2 in Africa, South America, increased 4 in Europe increased 3, Oceania reduction of 4, 2009 China to Europe, North America, Asia, exports 1.061 billion U.S. dollars the total amount of musical instruments, accounting for 87.18% of total exports musical instruments. Export to Europe for the first time in Chinese musical instruments, more than in North America, ranking No. 1 on every continent, in 2009 exports of Chinese musical instruments, all continents were to decline, the sharpest decline in North America, down 32.41 percent, the smallest decline was in South America, of 11.84%, down 12.48 percent in Asia, Africa fell 13.83%.2009 Chinese musical instruments, pre-export 10 countries and regions are the United States, Germany, Hong Kong, China, Japan, the United Kingdom, Korea, Belgium, Brazil, the Netherlands and Canada. Chinese exports to 10 countries and regions, the export amount of 839 million U.S. dollars musical instruments, accounting for 68.94% of total exports musical instruments. Among them, the U.S. exported 322 million U.S. dollars the amount of musical instruments, down 33.64%, accounting for 26.45% of total exports of musical instruments, a decrease of 5.45 percentage points. The instruments are mainly exported to the U.S. electro-acoustic instruments, and other stringed instruments, electronic keyboard musical instruments, percussion, brass instruments, stringed instruments, with a total amount of 245 million U.S. dollars, accounting for exports of the United States 76.08% of the total amount of musical instruments. Piano exported to the U.S. The total amo unt of 18.55 million U.S. dollars, accounting for only Chinese musical instruments, the total amount exported to the U.S. of 5.59%.2009 China from 54 countries and imported musical instruments, importing countries to increase 7, the amount of 179 million U.S. dollars of imports, down 8.66%. The major importing countries and regions are Japan, China (exports buy-back), Germany, South Korea, China Taiwan. In 2009 the total amount of imported 1.48 billion U.S. dollars, accounting for 82.68% musical instruments imported from China, which imported from Japan and 77.71 million U.S. dollars musical instruments, musical instruments imported from Germany 17.56 million U.S. dollars, from South Korea 13.62 million U.S. dollars importing musical instruments, musical instruments from China Taiwan imported 12.47 million U.S. dollars.Vertical pianos imported from Japan and 32242, the amount of 26.67 million U.S. dollars, grand piano 2178, the amount of 12.52 million U.S. dollars. Imported from Germany grand piano 194, the amount of 7.24 million U.S. dollars, the piano part the amount of 3.51 million U.S. dollars, upright piano 140, the amount of 1.02 million U.S. dollars. Vertical piano imports from South Korea, 9983, the amount of 1.77 million U.S. dollars, grand piano 30, the amount of 94.8 thousand U.S. dollars. Percussion instruments imported from China Taiwan the amount of 939.3 thousand U.S. dollars, the amount of 603.6 thousand U.S. dollars brass instruments.

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Outsourcing Accounting Services - Better Business Management Approach - Finance - Accounting

Nowadays, every business needs accounting services. Accounting is all about recording, reporting and analysis of every financial transactions of any business. Accounting is considered to be an important function and a significant tool for every business. Therefore, every business needs accounting services to run the business systematically.When we talk about accounting services, we look for means cost-effective, reliable and professional solutions. Irrespective of the industry sector, cost effective accounting services are required for evaluating their business whether it is small or multinational business. Business industries need to maintain a record of financial transactions. There are several accounting services such as Financial accounting, Accounts receivable, Financial reporting, Prepare cash flow statement, Tax filing services, Accounts payable, Cash management, Budget process, Payroll services, Inventory reconciliation and many more.Accounting is a very important function of a business, and at the same time, it requires calculation and accuracy. It is a time consuming and complex job because it involves various accounting related work such as managing profit and loss accounts, balance sheets, generating invoices to name a few. There are companies that prefer to outsource their accounting needs to a third party. The outsourcing accounting firms provide affordable, steadfast, faultless and accurate accounting services before given deadline. As a businessman, you have to focus on the core functions. If you are able to outsource a complex process like accounting to a third party, then you would not only be able to focus on core aspects but you will also gain competitive advantage. Here outsourcing accounting services can do wonders.

If a business requires total relief from the complex procedures of financial processes, then outsourcing accounting services can be a good option. Hiring an in-house accountant or bookkeeper is now an old concept.By outsourcing accounting of your business you would be able to able to deal with a combination of experienced and skilled accounting people using updated accounting software channeled through the web-based financial document transfer system. It is like an extended accounting department headed by a team of experts having experience and expertise in their domains.

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24 Who uses forensic accountants

Who uses forensic accountants?

Forensic accounting financial investigative specialists work with financial information for the purpose of conveying complicated issues in a manner that others can easily understand. While some forensic accountants and forensic accounting specialists are engaged in the public practice of forensic examination, others work in private industry for such entities as banks and insurance companies or governmental entities such as sheriff and police departments, the Federal Bureau of Investigation (FBI), and the Internal Revenue Service (IRS).

The occupational fraud committed by employees usually involves the theft of assets. Embezzlement has been the most often committed fraud for the last 30 years. Employees may be involved in kickback schemes, identity theft, or conversion of corporate assets for personal use. The forensic accountant couples observation of the suspected employees with physical examination of assets, invigilation, inspection of documents, and interviews of those involved. Experience on these types of engagements enables the forensic accountant to offer suggestions as to internal controls that owners could implement to reduce the likelihood of fraud.

At times, the forensic accountant may be hired by attorneys to investigate the financial trail of persons suspected of engaging in criminal activity. Information provided by the forensic accountant may be the most effective way of obtaining convictions. The forensic accountant may also be engaged by bankruptcy court when submitted financial information is suspect or if employees (including managers) are suspected of taking assets.

Opportunities for qualified forensic accounting professionals abound in private companies. CEOs must now certify that their financial statements are faithful representations of the financial position and results of operations of their companies and rely more heavily on internal controls to detect any misstatement that would otherwise be contained in these financials.

In addition to these activities, forensic accountants may be asked to determine the amount of the loss sustained by victims, testify in court as an expert witness and assist in the preparation of visual aids and written summaries for use in court.

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23 What is forensic accounting

What is forensic accounting?

Forensic accounting is the practice of utilizing accounting, auditing, and investigative skills to assist in legal matters. It encompasses 2 main areas - litigation support, investigation, and dispute resolution. Litigation support represents the factual presentation of economic issues related to existing or pending litigation. In this capacity, the forensic accounting professional quantifies damages sustained by parties involved in legal disputes and can assist in resolving disputes, even before they reach the courtroom. If a dispute reaches the courtroom, the forensic accountant may testify as an expert witness.

Investigation is the act of determining whether criminal matters such as employee theft, securities fraud (including falsification of financial statements), identity theft, and insurance fraud have occurred. As part of the forensic accountant's work, he or she may recommend actions that can be taken to minimize future risk of loss. Investigation may also occur in civil matters. For example, the forensic accountant may search for hidden assets in divorce cases.

Forensic accounting involves looking beyond the numbers and grasping the substance of situations. It's more than accounting...more than detective work...it's a combination that will be in demand for as long as human nature exists. Who wouldn't want a career that offers such stability, excitement, and financial rewards?

In short, forensic accounting requires the most important quality a person can possess: the ability to think. Far from being an ability that is specific to success in any particular field, developing the ability to think enhances a person's chances of success in life, thus increasing a person's worth in today's society. Why not consider becoming a forensic accountant on the Forensic Accounting Masters Degree link on the left-hand navigation bar.

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22 What are auditors

What are auditors?

Accountants and auditors help to ensure that the Nation's firms are run efficiently, its public records kept accurately, and its taxes paid properly and on time. They perform these vital functions by offering an increasingly wide array of business and accounting services, including public, management, and government accounting, as well as internal auditing, to their clients. Beyond carrying out the fundamental tasks of the occupation-preparing, analyzing, and verifying financial documents in order to provide information to clients-many accountants now are required to possess a wide range of knowledge and skills. Accountants and auditors are broadening the services they offer to include budget analysis, financial and investment planning, information technology consulting, and limited legal services.

Specific job duties vary widely among the four major fields of accounting: public, management, and government accounting and internal auditing.

Internal auditors verify the accuracy of their organization's internal records and check for mismanagement, waste, or fraud. Internal auditing is an increasingly important area of accounting and auditing. Internal auditors examine and evaluate their firms' financial and information systems, management procedures, and internal controls to ensure that records are accurate and controls are adequate to protect against fraud and waste. They also review company operations, evaluating their efficiency, effectiveness, and compliance with corporate policies and procedures, laws, and government regulations. There are many types of highly specialized auditors, such as electronic data-processing, environmental, engineering, legal, insurance premium, bank, and health care auditors. As computer systems make information timelier, internal auditors help managers to base their decisions on actual data, rather than personal observation. Internal auditors also may recommend controls for the ir organization's computer system, to ensure the reliability of the system and the integrity of the data.

Government accountants and auditors work in the public sector, maintaining and examining the records of government agencies and auditing private businesses and individuals whose activities are subject to government regulations or taxation. Accountants employed by Federal, State, and local governments guarantee that revenues are received and expenditures are made in accordance with laws and regulations. Those employed by the Federal Government may work as Internal Revenue Service agents or in financial management, financial institution examination, or budget analysis and administration.

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Accounting Software for Small Businesses - Computers - Software

Using accounting software has been beneficial especially for small businesses. It saves both your time and money. Working with accounting software is much easier than handling all those books manually. Accounting software is even better than the spreadsheet. With such software you can do away with redundant data entry.

Those who manage their business alone with a handful of customers, no employees and no or low inventory, accounting software will be an ideal choice. You can even opt for free accounting software. Online accounting software can be the right solution for you if you are a sole proprietor.

Small businesses can be benefited by using accounting software as they can get accurate calculation and records. This is especially true if it is a small company with a few employees. Accounting software can be used with ease. If you think it is an added hassle you are absolutely wrong because the operating system has become much easier than before. A person who has no accounting background can also handle this software.

There are many companies offering small business accounting software. If it seems difficult to select one you can narrow down your choice by short listing the features you need the software to have. Some of the essential features that small business need, include: * Sales tracking * Business tax reporting * Estimates * Budgeting * Inventory management * Payroll * Manage customer contacts with your current CMS (content management software) * Merchant account support You will find accounting software especially designed for a particular industry. This is especially true when industries like manufacturing, construction and wholesale distributors are involved. If your business falls into any of these industries then you need business specific accounting software. So look for software that can meet your unique requirements. Buying accounting software should not be an uninformed decision. Talk to business owners belonging to the same industry and verify what software they use. D iscuss about the features they like in the software and check which areas need improvement. You may not find accounting software having all the features you need. But don't get upset. Your task is to find one closest to your requirement. Once you have decided which one to go for ask the shop keeper a few questions to ensure that you are buying the right option. 1. Check whether new modules can be added to the existing software? You may need to add payroll accounting to your software when your business grows. 2. Ask your bank what software they use so that you can buy software that supports downloading transactions from your bank. 3. Are you opting for online accounting software? If yes, you to make sure that your private data will be safe and secured. 4. You may need to restrict access to the software. It is natural that you don't want just anybody to have access to the reports. 5. Does the accounting software you are going for come with a free trial? It is always to try it out before you buy it. Check all these points before you buy the software so that your investment doesn't go in vain.

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January-February 2009, the import and export of machine tools in Taiwan - Taiwan& 39;s machine tool, - Business

2009 1 to 2 months in taiwan exports dropped 47.8% year on year, exports have declined sharply. imports fell by 83.4%, indicating demand for high-tech equipment greatly reduced. 1, taiwan's exports of s according to customs export statistics, 1 february 2009, taiwan's total exports 281 million u.s. dollars, down 47.8%. cutting machine which was 213 million u.s. dollars, down 50.5%. forming s exports 68,330,000 u.s. dollars, down 37.2%. (1) export of all kinds of s by type of cutting s, the machining down 59.0%, lathe class decreased 41.1%, grinder class decreased 58.2%, milling boring and so on down 48.4%. part in the forming s, forging, punching and shearing machinery fell 38.5%, other forming s dropped 31.5%. (2) export country ranking of countries by exports , the chinese mainland and hong kong ranked first, exports of 71.48 million u.s. dollars, 25.4% of total exports, down 51.2%. the united states ranked second in the amount of 31.58 million u.s. dollars, accounting f or 11.2% of exports, down 36.2%. germany ranks third, the amount of 19.39 million u.s. dollars, accounting for 6.9%, down 39.5%. followed by the 42.4% decline in the netherlands, brazil, down 30.6%, italy 51.7% decline, down 23.1% in thailand, france fell 13.9%, india down 62.6%, turkey 75.1% decline, down 26.6% in japan, vietnam decline 56.1% malaysia fell 46.5%, 41.4% decline in the united kingdom, belgium and so on down 44.7%. 2, taiwan's imports of s 2009 1 ~ 2 months of taiwan imports amounted to 53.16 million u.s. dollars, down 83.4%. cutting imports the value of which 40.99 million u.s. dollars, down 86.6%. forming imports amounted to 12.17 million u.s. dollars, down 16.5%. (1) imports of various types of s 2009 1 ~ 2 months of imports of non-conventional s s dropped 94.2% year on year, machining up 8.0%, down 66.9% lathe, boring milling down 54.2%, down 28.6% grinding, high-tech industry working with the processing machinery in 2006 and the sharp rebound in 2007, fel l sharply in 2008, 2009, 1 to 2 months is a substantial recession. molding machine parts, forging punching machinery fell 30.4%, other molding machine category grew 185%. import data above show that the demand for imports in recent years, traditional industries can maintain moderate growth, such as precision components, metal products processing industry. the new high-tech industries such as semiconductors, information, electronics, telecommunications, optoelectronics and other industries in the phenomenon of a great fall of 2008, after 1 february 2009, continued to drop. (2) imports from the country case the first japanese imports amounted to 20.35 million u.s. dollars, accounting for 38.3%, down 90.4%. germany's second largest amount of 10.08 million u.s. dollars of imports, accounting for 19.0%, down 20.7%. the united states ranks third in imports amounted to 5.97 million u.s. dollars, accounting for 11.2%, down 92.0% and so on. 3, touching on experts said the first half of taiwan's machine tool demand in 2009 will be significantly reduced, which in particular, northeast asia, southeast asia, north america, eu, south america and other opportunities to reduce orders. 2009 year industry main problems facing the sharp shock of nt dollar, korean won against the u.s. dollar depreciated 40%, and the high price of steel and castings, export orders are dwindling and so on. source: taiwan association of machinery

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Finance and Accounting Outsourcing- A Healthy Practice - Business

In the modern world, as the global economy goes on integrating, the competition of an open market is increasing day by day. In this environment, only such types of companies are able to survive, which have streamlined their operations and focus on their core competencies. In such type of business environment, where size does matter and so does flexibility, being a bulky organization with no scope for change leaves them open to extinction. With the emphasis to reduce costs and increase productivity, outsourcing has emerged as one of the best options to focus on the core competencies while reduces the burden of other departments that don't directly contribute towards the growth of the company. Hence, outsourcing such kind of activities makes sense and thus finance and accounting outsourcing is a healthy practice which should be followed by small and medium sized businesses.

Finance and accounting outsourcing is an emerging market trend nowadays. Most of the finance and accounting procedures are bulky and are most often repetitive in nature and also voluminous. In order for small and medium scale businesses to concentrate on their core competencies, it becomes imperative for them to choose finance and accounting outsourcing. It enables the top and middle management to focus on innovation and thus leads to better decision making and helps in the overall growth of the company. Finance and accounting outsourcing involves outsourcing of accounts payable, accounts receivable, client billing, general ledger coding and management, travel and expense auditing, bank and other reconciliation, financial reporting and analysis, management reporting and analysis, vendor management, procurement management and purchase order processing, etc.

All these above mentioned tasks if outsourced to a third party vendor which has specialization in these areas, could help the small and medium business to prosper. It not only helps the middle and top management of the company to focus on more pertinent issues such as innovation and future scoping of business, but it also helps the companies to downsize themselves making them more leaner and thus more flexible and prone to change. This lets them to achieve whatever goals they have set for themselves and finance and accounting outsourcing helps them to focus on their core areas of interests, rather than the mundane task of calculating the travel bill of an employee.

Finance and accounting outsourcing is a trend which is going to rise with the globalization being the norm in the present times. Since competition is increasing with the opening up of the markets, it becomes necessary for the companies to brace for such competition and where being cost effective matters a lot. Thus, being a lean natured and flexible company helps and finance and accounting outsourcing helps the companies to achieve this. Finance and accounting functions, if left to professionals, can help the company to get better results and on top of it cost savings are also incurred since whole department of finance and accounting is outsourced. Thus, finance and accounting outsourcing helps the companies to keep track of their size and flexibility, making them more cost effective in the competitive market and thus helping them survive the cut throat competition. Finance and accounting outsourcing is thus a healthy practice which would lead to better innovation and a wi n-win situation for all.

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