Thursday, December 15, 2011

Financial information systems can serve many functions in a business. How might you use them in your business?

I need help with this one i am taking this in BUS105-0701B-08 PLEASE HELP|||Basically, you use a financial information system to run the entire business ...





Prepare customer quotes


Take orders


Create work or service orders


Capture and track labor


Manage field service


Keep training records


Manage accounts payable


Manage accounts receivable


Manage budgets


Order materials





and, much more

Can someone go to the bank and get my financial information?

if they stole my car registration and insurance card?|||I think you can give an authorization letter to someone using which they can get your info from the bank. http://financetrain.com|||No. In order to get your financial information, they'd need your account numbers and some form of photo ID saying that they're you.|||NO

Should NBA teams give more financial information to fans?

It would help understand their demands on the CBA.|||Yes.


That way we could more easily know who are the bad guys in this Lockout











http://answers.yahoo.com/question/index;鈥?/a>|||No, why should they? The fans will cry that they are billionaires anyways.|||Yes, but I doubt they will.|||People keep saying you're a troll is that true?.

When visiting with a Mortgage Consultant, should they take all pieces of financial information?

Visited a consultant and he asked us what price we were looking at vs. telling us our approval price. Is this right? This individual did not let us finish disclosing all accounts but just recommended that our "guess-timation" was good enough...|||In the days before the meltdown, we used to invent an income high enough to cover the amount the borrower needed. The real income did not matter because we'd have to boost it quite a bit anyway. What would happen is someone who wanted to buy a $450,000 house could really only afford a $150,000 house, so we'd have to jack up the income enough to qualify for the bigger loan. Kinda like working backwards.





It sounds like the same thing is happening here. once he knows the price he can back out of that and create an income figure. So you know in a few years you will be in foreclosure too, and you will lose the house and all the money you put into it.





Go someplace else for the mortgage..|||The mortgage consultant should gather ALL of your financial documentation when deciding what your maximum approved qualification price should be.





This consists of what is the max amount of down-payment you are willing to put down on a home, coupled with your fico, Gross yearly earnings, and cash reserves (liquid cash assets).





Obviously he/she might bluntly ask you what price range you are looking for to get a general idea before proceeding. However, they should provide your final approved price based on the information above. I would definitely take your business else where to ensure you don't waste your time and/or the seller's time if for some reason you won't qualify for a home you make an offer on.





-David Wacker|||Given the meltdown, you are the best judge of your own financial situation. Don't exceed 30% of your NET income in your mortgage payment.





In essence, what the mortgage consultant was telling you, it is up to you.|||Buyers perception of an affordable/desired home vs what they can afford...that is why that question came out but obviously your consultant did not explain nor answer all your questions. In our Market, a guesstimation is NOT good enough. they affordablity and pre-qualification process is Black and white, Either you can afford the house or you cant. If you have questions or your consultant is making you ask too many questions.... get a new one who knows what they are doing.








Hope this helps,








Jason

Where can I find non-profit financial information?

i have found info before on salaries, grant info, etc, for specific no profits. i know they are required to disclose that sort of information, but I can't seem to access it|||Non-profits are required to file tax returns that are made public. If you have a specific non-profit in mind, call them. Or contact the Attorney General's office in the state where you live for more info.

Why not use the Trial Balance to report financial information internally and externally?

The internal reports should be designed to provide management with information they use to help in operations. External is driven by GAAP and regulations.





Often, the trial is too detailed and doesn't provide information grouped the way management needs. For example, most trials don't show the current month's income.





As a general ledger accountant, the trial was my main focus.

When filling out the FAFSA can you give the same financial information you provided for say, UC applications?

EX: using the estimated family income from the UC app for the Adjusted Gross income on the FAFSA...deadlines coming and its difficult to get all this info from my parents...thanks for any help|||You can put down estimated numbers and then file a correction after your parents file their taxes. But you MUST remember to file the corrections. Inaccurate FAFSA information will screw up your financial aid when the mistakes catch up with you.|||You can, but it will be wrong. The fafsa doesn't want to know you made "about 4,000 last year" or your folks earned " 60,000 last year" the fafsa wants to know you earned 4,371 dollars last year, had a 216 dollar tax liability and your parents earned 58,472 and had a tax liability of 3,289 dollars on their tax form.





If you use estimated info, you make more work for yourself. Yes, if your school has a deadline and the folks won't possibly have their taxes filled out yet, then YES you can estimate.





But be aware NO school is going to give you any kind of financial aid offer based on estimated (aka WRONG) information. I repeat, no school is going to process the info you put on your fafsa with this data. So filling it out with estimated info (aka WRONG) doesn't really help you. You still will have to go back in and correct all the wrong info you entered. Most people have more problems with the corrections going through and they'd have saved themselves a lot of time by going in ONCE and submitting a complete and accurate fafsa once. The more corrections you make, the higher your chances are of getting selected for verification also, which is just more delays, if you let it








Schools have deadlines to encourage everyone to file taxes and complete their paperwork in a timely manner. I'd take this as a hint and make sure your parents take it too.