The Best Accounting Firms to Work For in 2012

Accounting firms play a vital role in providing the services which businesses require. There are many accounting firms spread all over the world. Besides putting a systematic record of financial transactions, these accounting firms take care of all the risks involved in setting up and running a limited company. As staff of an accounting firms are trained for all types of financial situations they can easily bring success to your business. It is always a better idea to hire an accounting firm to deal with your business requirements. You can get your limited company set up help with ClearSky which is an IFA accredited accounting firm. Below are some of the best accountancy firms to work for in 2012.

Ernst & Young

Ernst and Young accounting firm offer a wide range of services regarding business intelligence. They have been offering their services for about a century. The services offered by this firm include advisory business services, tax, transaction advisory services, law and assurance. This firm has offices in various cities all over the world.

Deloitte

Deloitte has dozens of member firms which have been offering their services to about 150 countries. These member firms provide services like audit, tax, financial advisory, consulting and risk management services. Each member firm operates based on the rules and regulations of the country in which it operates.

Grant Thornton

Grant Thornton is a leading business consultancy firm which stimulates potential growth of the organisations. It has set up its branches in more than 100 countries. The member firm of Grant Thornton helps you to compete with your business competitors and grow. These firms take care of the whole process involved in setting up and running a business.

Moss Adams

Moss Adams is the 11th largest accounting firm in the country. The services provided by this firm include tax, accounting and consulting services to all the businesses and industries. Along with business intelligence, this firm also offers services like investment banking and asset management. This firm is also a founding member of Praxity, a global alliance of accounting firms.

KPMG

KPMG is a New York based accounting firm which offers tax, auditing and financial advisory services to the businesses. KMPG has branches all over the world which has over 140,000 employees. The firm focuses on what the private company owners and entrepreneurs face every day and provides responsive and effective advice which stimulates the business potential growth.

Simon is a Tech writer from London with an interest in topics relating to Insurance, Finance, and green living. You can follow him @financeport on Twitter

Top 10 Cases of Corporate Identity Theft

(Photo credit: thewamphyri)Corporate identity theft cases have been in the news for quite some time now. Ever since the high pace advancement of technology has taken its toll, identity thefts have started to become more of a norm with every passing year. People looking for debt relief advice have moved on to stealing identities to get over with their credit card debt relief as soon as they can without the guilt of taking someone’s hard earnings that they’ve probably wasted years in gathering.

There are many cases available in recent history that depicts corporate identity thefts. Some of which are given below:

Identical Names

Executive Outcome Inc. and Executive Outcomes Inc. both possessed the same names. Although countries apart, the identical names led to a loss of twenty three million dollars to the South African Executive Outcomes Inc. which was collected by Executive Outcome Inc. situated in Michigan. The South African company was supposed to collect the mount from the government of Sierra Leone for military equipment and training etc.

The Michigan-based company took its chance and hired a debt collection agency with fabricating documents and registered a new business in England in the name of the same South African company that was originally designated to collect the debt. When a British debt collector came into the scene and submitted paperwork to the Sierra Leone government, he was amazed to find out that the payments had already been issued with present paperwork, leaving the company and collector distressed.

Experienced Hackers

There was a corporate identity theft case reported in 2009 that grabbed much of the media attention over the U.S. Department of Justice’s moves. The case involved a man from Miami named Albert Gonzalez along with his two conspirators were charged with stealing over one hundred and thirty numerous debit and credit card numbers due to corporate info breach from five companies i.e.

• Heartland Payment Systems
• Hannaford Brothers computer systems
• JC Penny
• Target
• Seven Citibank ATMs

Lifelock

Todd Davis, a confident CEO of his company called Lifelock was so confident about the identity theft protection provided by his company that he openly shared his real social security number with the world via advertising. This included billboards, Internet marketing and even side paintings on buses and trucks.

Leaving aside identity protection, his own personal account was scraped up of five hundred dollars for a cash advance loan with eighty seven following the lead using pseudonyms like Joe Blow and J.T Hutt etc.

Stealing from the Stars

A busboy named Abraham Abdallah was quite in the social scene for a while when he got hold of financial statements belonging to Oprah Winfrey and Steven Spielberg’s credit card. He was caught on the scene with making a ten million dollar transfer hiding behind a software giant.

Frank Abagnale

Posing as a doctor, an airline pilot and history professor etc., Abagnale fooled the authorities for many years racking up to four million dollars of wrong checks. After being caught and convicted, he now owns a business that helps fight against mischief like his.

ID Fraud from China

In the mid 2004s, A Japanese electronics giant, the NEC, received reports of its pirated products being sold in major parts of China. The piracy started from keyboards and CD/DVDs and elevated up to home entertainment centers and MP3 players with over fifty factories operating within the whole country dedicated to producing NEC logoed goods on their own.

At Employee’s Hands

A company selling one of its departments handed over the list of its employees and their personal information to the purchaser. After a few months, about sixty of those employees were overcharged with one thing or another. It turned out that the purchasing company’s employees had conducted id thefts on the new ones.

Out of the Country

A person was out of the country for almost four years and upon his return to the U.S., he found out that a business has been created with his savings and he’s also been granted loans, and the power of attorney has also been transferred to a new person. It was the same person who rented his house prior to leaving the States.

Stealing Musician

The director of a business involving music production has committed fraudulent transactions conjuring more than 5 million dollars. This has affected high scale financial institutions like the Sun Trust Bank and the American Express.

Singer at Large

An ex-singer looking for credit card debt relief and serving prison time stole the identities and numbers of 200 companies and 150 individuals, making transactions worth more than 1 million dollars.

Becoming a criminal and stealing other people’s hard-earned money wouldn't come in question if only a person tries to seek some debt relief advice.

The above article is written and edited by Angelina J who is an expert adviser for debt related issues.

Saving for Beer or Retirement the Results Can be Delicious - Infographic

Here is a new way to look at saving for your retirement. It's funny how you can make a point by comparing something fun to something not to fun. Saving for retirement is boring and the payoff is so far away that you can get easily discouraged. 

If this info graphic doesn't drive home the power of saving even the smallest amount of money I don't know what will. Start today so when it's retirement time you'll have all the beer, I mean money you'll need for a secure retirement. 

Thanks to Erik at RothIRA.com for giving us a laugh and something to think about.  

From: RothIRA.com

Do Baby Boomers Still Need Life Insurance?

Universal Life Insurance Company (Photo credit: Thomas Hawk)

All through our lives we have had many different types of insurance. Whether it was car insurance, home insurance, or life insurance we know to protect ourselves and our families, it was a necessary expense. But in retirement is it still necessary to have life insurance? The kids are on their own and are self sufficient. We have less to protect and don't view the need for life insurance anymore.

Maybe you think life insurance for people over 50 isn't important. Think again. While people under fifty often get life insurance for financial protection for their spouse and children, people over 50 have even more ways to use life insurance.

If you have a spouse who will survive you, there is a need for some financial security for the rest of their life. Other needs for life insurance can be:

1. Taking care of your adult special needs child.
2. Paying off your mortgage and your debt.
3. Pension Maximization Strategy- letting you take the maximum dollars in retirement benefits.
4. Providing for your estate taxes.
5. Providing financially for your family business. 
6. Final expenses.
7. Charitable giving.
8. Providing for children or grandchildren for college and/or professional school.

I'm sure we've missed one or more reasons for life insurance in your senior years.  Whatever your reasons for needing life insurance are, the process is still the same. 

What keeps most Boomers from getting life insurance?

The answer for most people is cost. Seeing that large monthly payment makes people not purchase the insurance. But by doing that, everyday your making it worse. The price you will pay for your monthly premium on a 20 year term policy dramatically increases as you go from 50 to 60 and from 60 to 65.

Men have it worse when paying for life insurance. Women live longer than men so their insurance costs are less. Also as we age we have more health issues which will increase the premium we need to pay. Here are two examples of life insurance rates, compared for men and women. 

Female, Preferred risk,  $250,000 of insurance for 20 years, level face amount and premium

• Age 50 is $39 per month
• Age 60 is $94 per month
• Age 65 is $167 per month

Male, Preferred risk,  $250,000 of insurance for 20 years, level face amount and premium

• Age 50 is $50 per month
• Age 60 is $129 per month
• Age 65 is $258 per month

It pays to apply for your life insurance as early as possible so you can lock in low rates.

How much life insurance do you really need?

When shopping for life insurance deciding the amount of coverage depends on many factors. The insurance should only be as much as needed to fulfill a specific need. Support for the surviving spouse must be measured with the state of savings, pension, and other income. You may only need to just provide enough money to pay off a mortgage and provide burial expenses. 

Life happens and the best time to buy life insurance is today when your healthy and at your youngest. It will be at the most affordable price and only be more expensive if you wait.

3 Ways to Maximize your 401k

Finance (Photo credit: Tax Credits)It's easy to get the most out of your 401k, especially if you start planning early. A comfortable retirement is within the reach of anyone who takes their financial responsibilities seriously, and maximizes their 401k account. Here are some simple ways to do it:

Start Early

It is never too early to start thinking about the future, or to start learning about the fascinating world of finance. Pay attention to your investments, to your retirement, and to the economic world. Put as much as you can into your 401k, because if it is one the primary things you spend money on then you will take it seriously and tend it carefully. Although you cannot put more than $17,000 into a 401k in a year, if you can come anywhere close to that you will not regret it. Even one year of large contributions will pay well later. If you want to take the fullest possible advantage of the tax breaks, then you should contribute about $1,417 a month. That's about $327 a week. That seems like a lot, but it will be worth it. Be sure to take the fullest possible advantage of employer 401k matching to your account. That is a service that costs you nothing, but benefits you tremendously.

Diversify

Most 401ks have generous options for investing in stocks, bonds, mutual funds, and more. A diverse portfolio distributes risk and ensures that no single disaster can completely undo the fund. The beauty of the modern market is that, no matter what happens, some sector of the economy benefits. The harder it rains, the more umbrellas somebody can sell. If your 401k is used for intelligent selections from the entire financial spectrum then it will truly be an ill wind that blows no part of your portfolio any good. Please be sure to not put too much money into investing in your own company. That is counter to the principles of risk management, which are at the heart of any great investment plan. Your fortunes are already tied to your employers. Maximize your freedom, and diversify.

Take It Seriously

Assiduous attention to the financial market is the surest guarantee of a long and productive economic life. The market changes, constantly, and the only constant is change. There is no way to know what the top stocks will be in many years, when you are ready to retire. The only way to know is to pay attention from now on until then. Make your economic life part of your everyday life. Read the financial news. Not only will this give you ideas for investments, but regular contact with the financial world will keep you aware of the usual conditions and the way that major events tend to play out. This can really help you keep your sanity when strange moments find the financial market and the less-informed investors panic, lose their heads, and make emotional decisions with terrible consequences. The truly iron-willed can even find ways to make a profit in this situation.

Dan is a financial blogger and a writer for a company that provides useful information and guide here on life insurance.

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Insurance Tips for Soon-To-Be Retirees

(Photo credit: Wikipedia)

Over the many years, you have probably paid your homeowners insurance just by routine. Today, experts with the AARP have begun to warn people that this routine continued without a lot of thought can be a huge financial mistake. All homeowners policies aren’t the same and not all companies charge the same costs and premiums. Retirees need to think about the fact that the coverage they bought many years ago may not be what they need today.

What Is Covered
Of course we all know that homeowners insurance is a type of coverage for homes in case some damage happens. The policy you bought many years ago on your home may have been complex or simple. The variations are going to be in what types of damage are covered. There is fire damage, theft, flood, and earthquake damage. Then you have the policy chose that offers a cash value, discounting the depreciation, or the one that offers complete replacement coverage with no depreciation taken out. Then, you have to take into consideration the value of what’s inside your home. For retirees, that may have changed a lot today from what you had years ago.

Retirement Needs Change
When we reach the age of retirement, our needs may change quite a bit. You may scale back on the items you have in your home. This is when you have to think about your homeowner’s policy and the need to ensure that what you have worked so hard over the years to accumulate. You want to be sure those assets are protected and covered. While so many retirees are focusing on their health insurance, they let their homeowner’s insurance slip through their minds.

Value of Home
Most retirees don’t even remember what was covered or not covered years ago when they took out their policies. Start to ask yourself some questions. Do you know what is covered and what’s excluded? Do you have coverage for being burglarized or for an act of God that could occur? Dig out your policy and start crunching some numbers. You have to think about what your home is worth now. Check out the values of homes in your neighborhood that sold recently and compare. Come up with a pretty good figure and ask your insurance agent to have an analysis done on what the cost would be if you had to rebuild your house.

Retirees Accumulate Stuff
Make a list of all the items in your home. It’s going to take a while but go one room at a time and account for everything. Some people like to use a camcorder to go through the house and record by voice what is in each room. Regular cameras can work as well. When you come across things that are very valuable, take a close up photo and write a description of the item with the date on the back. Be as specific as you can be and note the condition of your items as well. Model numbers or serial numbers should be written down as well as all your art, antiques and jewelry. Give your kids a copy of your information or put a copy in a safe deposit box. By now you should have a pretty good estimate of the value of items in your home. Remember as well that most homeowner’s insurance policies cover up to a specified amount of the home’s contents. You may need to look into a separate insurance policy for items of great value.

Always be sure to notify your insurance agent when you retire. They can assist retirees in determining any types of discounts they may be eligible for. Living on a fixed income may cause you to think about how to cut down on items and insurance can be one of them. Keeping your home safe with burglar alarms and smoke detectors can reduce rates as well. Think about everything when you are retiring and don’t forget about your homeowner’s. You can probably save a lot of money and protect your assets as well.


Kelly Clarion writes about finance, economics & homeowners insurance quotes.