Do you have a budding artist in the family? Does your son or daughter love to draw or paint? Does he constantly pester you for coloring books or art materials? If so, encourage them to continue what he or she is doing. Those meaningless scribbles might be the start of a bright future. Your kid might not become another van Gogh or Salvador Dali but he or she will surely benefit from a good art education.Unknown to many, a strong art education is important, as it helps children develop skills that they need to be successful in life. Among the many benefits of art education are self-directed learning, improved school attendance and better creative skills. Recent studies have shown that the creativity and innovation used in the artistic process are highly valued by employers.Creative arts programs play a big role in shaping students’ self-image and increasing their skills in math, science, geography and language. Early exposure to visual art, music or drama is known to promote brain activity. It encourages learning and helps people understand other subjects easily. Art also promotes creativity and inventiveness and helps develop self-esteem, self-discipline and self-motivation.But that’s not all. Art activities help kids understand the human experience. It teaches them to respect other people’s’ ways of working and thinking, helps develop creative problem-solving skills, and enables them to communicate their thoughts and ideas in many ways. Unfortunately, the hard times have affected the way people see art. Often, art programs are the first to be sacrificed in implementing cost-cutting measures. Several schools have limited classroom space and art “studios” are mostly found in a cart that is transferred from room to room. This greatly limits the art education that students receive.How do we solve this problem? Start by encouraging kids to draw. All you need is a pencil and a piece of paper, yet this simple process provides the basis for other creative activities, such as painting and sculpture. Drawing is a direct link to reading, writing and math. This is the most accessible art form available that will go a long way in making your child a better person someday.
The Effects of Globalization on Both Accounting Profession and Education
Innovations in technology has catapulted the financial district into a global market. Globalization has had a large influence on the way businesses conduct business. Firms are not only responsible for being privy to information involving consumers in their own backyard but also understanding consumer culture as well as economic, political, and legal structures that exist in other countries. Due to the influence globalization has had on businesses, it has changed the expectations that are required of incoming business students and their education. More specifically, accounting students are being impacted by the changes globalization has influenced the market with. These students are challenged more particularly throughout their undergraduate years to understand not only the rules and regulations of GAAP (General Accepted Accounting Principles) but also the standards set forth by the IFRS (International Financial Reporting Standards). Within the accounting sphere, the primary focus has been on external reporting which involve the preparation of financial statements and auditing. However, due to the ever changing world of the global market, future accountants are required to possess perspectives that influence both external and internal reporting. The market will continue to change due to the fast paced journey of information making globalization an important factor in accounting education.Businesses in the United States have largely adopted GAAP which is a guide to how business are to construct financial information to produce statements. GAAP has been useful in the last couple of years because it facilitates the way businesses in the U.S. communicate with each other. However, in the global environment, GAAP proves to be burdensome for most companies. Overseas, they have adopted IFRS which is another guide to producing financial information which aids foreign companies with communicate amongst each other. Most countries use IFRS as a basis for the way business transactions are conducted. Since most of the world is using IFRS as the standard it leaves the U.S. with the tedious task of having to incorporate two different principles to conduct business. In the article, “How Globalization is Affecting U.S. Accountants” by Bruce Pounder, Pounder states that “U.S. accountants will find themselves at a severe disadvantage to the many foreign accounting professionals who have already mastered international accounting standards and who are therefore much better-positioned to take advantage of rapidly growing career opportunities in China, India, and other emerging economies” (Pounder, 2007, p. 3). He then goes on to predict that as GAAP becomes more overshadowed by IFRS, U.S. accountants will find their skills and knowledge becoming obsolete. Therefore, IFRS has become more integrated into the accounting curriculum for education. Students are required to understand not only GAAP but IFRS and the changes that occur when working with both. By involving IFRS into the learning process, students will be prepared to later take the CPA Exam which has recently been updated to include information about IFRS in the Financial Accounting and Reporting (FAR) section. Students are becoming better equipped with skills and information that will make them more marketable and efficient in the globalized business environment.In the U.S. economy, a thriving financial sector is usually supported by a strong public accounting and auditing firms. Therefore, the focus over recent years has been to ensure that accountants excel at compiling information involving a company’s assets, liabilities, equity, investments, etc. However, due to globalization, external accounting practices aren’t as valued if internal practices are not also implicated. Internal practices are important because it shapes the way businesses reach their customers in the foreign market. Authors Paul Danos and Richard L. Measelle stated in their article, “Globalization of the Business Environment: Implications for Accounting Profession and Business Education”, that “In a competitive global market place, the internal accountant must be sensitive to what drives the costs of products and he/she must work with production and marketing people to rationalize all cost accounting procedures” (Danos, 1990, p. 79). The responsibilities of the internal accountant is becoming more critical to the success of businesses. For a business wanting to expand into foreign territory, cost accounting is used to accurately develop product price information, location of manufacturing facilities, picking suppliers, etc. Due to these factors, internal accountants have to be familiar with regulations across borders, tax treatments, and currency conversion costs. When it comes to public accounting, auditors must be heavily versed in global accounting standards because “the world’s economies are becoming increasingly interdependent… ” (Needles, 2010, p. 602) according to Belverd E. Needles Jr. author of the article “Accounting Education: The Impact of Globalization”. The author goes on to encourage global standards for auditors because it strengthens their practices by only having to be familiar with those regulations. In order to be well versed in the global market, accounting students are advised to take courses specifically designed to analyze different cultures, languages, and political factors that influence societies.Globalization has influenced many changes that have taken place in both the accounting profession and education. Students are now exposed to problems that occur in the global market and how to go about solving them. Not only are these students expected to understand all the mathematics and jargon involved with the business world, but they are also expected to have a good sense of foreign consumer culture as well as the regulations bound to each country. Implemented with these skills, students will be able to excel in the new business world.ReferencesDanos, P., & Measelle, R. L. (1990). Globalization of the Business Environment: Implications for the Accounting Profession and Business Education. Human Resource Management, 29(1), 77-84
Needles, B. E. (2010). Accounting Education: The Impact of Globalization. Accounting Education, 19(6), 601-605. doi: 10.1080/09639284.2010.501578
Pounder, B. (2007). How Globalization is Affecting U.S. Accountants. Montvale: Institute of Management Accountants.
How To Apply For A Loan With Fewer Headaches
Not sure how to get a loan? Before applying for a loan, decide if you really need one. Is it for a home repair you can’t go another day without? Is it for a loaner car because your daily driver just retired? Is it for college which you couldn’t otherwise pay for out of pocket?On the other hand, is it for a hot tub you just really want, or a new fancy car you just saw on television? Is the purpose for the loan a nice island vacation or a brand new bedroom furniture set?Think First! It’s recommended to get a loan for something which will either return you greater value, or something you truly need. If it is a luxury item, you’ll be better off just saving your cash and buying it outright in the long run. Not only do most purchases of luxury items tend to be more expensive than necessity items, but you’ll also throw on top a huge chunk of interest to pay off over time if you purchase with a loan, compounding the cost of your lush new buy.A loan is an agreement to borrow money, in exchange for repaying it with additional interest over a period of time. We are in a low interest environment now, but even a small percentage of interest can add up significantly over a long period of time. Interest rates can also be fixed for variable. Be sure to know the details before you sign a dotted line, as both fixed and variable have advantages and disadvantages.The loan term is the duration of time you plan to pay back the loan to the issuer. This can be a very short time if it’s a small personal loan, or it could be a very long time, such as a 30 year mortgage. Although the time period is stated, most loans can be paid back faster; this could save you a lot in interest as well!The loan principal is the actual amount the issuer is going to hand you when you sign for the loan. The principal is usually one of the key factors in applying for a loan, because the issuer will want to verify you have a need for the full principal.The first thing you’ll need to apply for a loan is some sort of document showing you income. Typically, a W-2 or a few months worth of paycheck stubs should do the trick. Employment history may also be important in this phase, depending on the size of the loan. If the borrower is a business, K-1′s, tax returns, 1099′s or other paperwork may be required.Next, an inventory of your assets will likely be accounted for. Items such as bank accounts, CD’s, 401(k) statements, stocks and mutual funds, cash value in life insurance, and other equities you might hold. These are usually additional proof you have what it takes to pay back the loan. Your assets are also sometimes eligible to be seized in the event you default on your loan.Your personal information is also required, such as driver’s license or passport, social security number, current and past residences, contact numbers, or any other information the issuer might need in order to keep on file if they needed to find you should you be in a default situation.Once you have applied for the loan, the issuer will more than likely run your credit score, verify your income, verify your assets, and begin taking your entire profile into account. If eligible, the issuer will write an agreement for you to sign, which will state the terms of the loan. This will include the agreed upon principal, eligible interest rate, fees to originate the loan, pay back policies, and other disclosures, rules and regulations applicable to the loan type applied for.Be sure to read everything as this stage of the process! If you don’t understand what something means, or you are unsure if something seems right, stop and ask questions! The last thing you want is to be bound to a loan you didn’t intend to be. There is always the human element as well, and there could be a simple mistake which could cost you down the road.Finally, after you have been accepted and have signed off the loan documents, it is now your responsibility to abide by the terms of the loan. First and foremost, be on time with you payments! Missed or late payments not only can affect your credit score for future loans, but incur fees and interest which compound against your loan amount. Late fees and penalties are a quick way to spiral your loan out of control, and cost you significantly more than you ever intended on paying.Also, if you do pay on time, the opposite is true! You credit score can improve as you make your payments, and you’re more likely to be given any amount of leeway down the stretch should you run into unexpected hardship.Be sure to monitor your loan regularly. Make sure you are taking advantage of the loan as best as possible. Some issuers allow you to get lower credit by auto-drafting your account and other lenders might be willing to lower your interest rate through a restructure or refinance. Whenever possible, make an extra payment or balloon payment to pay the loan down faster, as this will save you money in the long run. Loans can be a great help when used properly, but they can be a detriment if used irresponsibly.
Corporate Financing Career Education Options
Careers in corporate financing require professionals to hold a degree in the field of accounting and finance. Students can obtain the education they need to succeed by enrolling in an accredited school or college. With an education students can gain the knowledge and skills they need to pursue a variety of careers. Corporate financing career education options are available at an associates, bachelors, masters, and doctoral degree level.*DegreesAssociate degrees can be earned through accredited educational programs in as little as two years. An associate’s degree is required in order to enroll in a bachelor’s degree program. Students can train for an accredited bachelor’s degree by completing four years of study. A bachelor’s degree will allow students to enter the workforce or pursue a master’s degree in the field. Completion of a master’s degree will require students to complete an additional two years of study in corporate finance. The highest level of education in this field is a doctoral degree or PhD. Students who wish to do so can obtain a doctoral degree in the field by studying for an additional four years. Students will need to complete a variety of coursework in order to gain their desired degree.*CourseworkSpecific coursework and areas of study will vary based on each individual students desired level of degree and career. Accredited corporate financing schools and colleges will provide students with coursework that will give them the skills and knowledge needed to enter the field. Associate and bachelor degree areas of study may consist of subjects like finance, budget management, accounting, statistics, investment management, and much more. With enrollment in a masters or doctoral level degree training program students will have the opportunity to learn marking, international finance, cost management, applied statistics, financial statement analysis, and many other corporate finance related courses.*CareersBy earning a degree at an associate degree level in corporate financing students will be prepared for a number of exciting careers. Professions for associate degree holders include financial or business analyst, associate support analyst, and more. By earning an accredited bachelors degree students can pursue careers as cash managers, strategic planners, senior financial analysts, and many other related professions. Students who choose to earn a masters or doctoral degree can enter into the workforce as directors of finance, chief financial officers, chief executive officers, treasurers, researches, teachers, and much more. Gaining a degree in corporate finance opens a world of career opportunities.*Continuing EducationCourses for continuing education are available to allow students to enhance their skills in certain areas of the industry. Coursework will vary depending on the career and desired skills and knowledge. Students can earn certificates by completing continuing education courses in corporate finance.By enrolling in an accredited educational training program students can train for their desired career in the field. Accredited educational programs allow students to receive a quality education. Full accreditation is provided to qualifying schools and colleges by various agencies like the Accrediting Council for Independent Colleges and Schools ( http://www.acics.org/ ). Students can ensure they receive the skills and training they need to succeed in the corporate world. Start your career training by enrolling in a corporate financing degree program today.DISCLAIMER: Above is a GENERIC OUTLINE and may or may not depict precise methods, courses and/or focuses related to ANY ONE specific school(s) that may or may not be advertised at PETAP.org.Copyright 2010 – All rights reserved by PETAP.org.