FOREX Magazine

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Editorial Board
Sofía Sámano
Yareli Gonzalez
Hugo Juárez
Estefania Franco
Diego Ortiz
Ana Aguilar
Journalist
Estefania Franco
Ana Aguilar
Diego Garza
Design
Sofía Sámano
Images
Google.com
Colaboration
Yareli Gonzalez
Hugo Juárez
Diego Ortiz
2

WORDSEARCH
RPM INTERNATIONAL INC
SOLAR COMPANY
RBI OPENS MORE
BIG BANKS
DAVID’S BRIDAL BANKRUPTCY
DITCH THE DOG WALKER
PAGE 5
PAGE 6
PAGE 8
PAGE 10
PAGE 11
PAGE 13
PAGE 15
CROSSWORD
BUSINESS CREDIT
DUNS & BRADSTREET
FICO CREDIT
PAGE 18
PAGE 19
PAGE 21
PAGE 22
CONCEPTUAL MAP
STARTUP
TIPS FOR PAYMENTS SYSTEMS
EARTHPORT
PAGE 25
PAGE 27
PAGE 29
PAGE 32
WORLD SCRAMBLE
INS AND OUTS
COMMON MISTAKES
BIG BANKS AND AGGREGATORS
PAGE 34
PAGE 36
PAGE 38
PAGE 43
3

EBIT
SALES
NET PROFIT
MARGIN
QUICK
RATIO
TOTAL
INCOME
RETURN
CURRENT
ASSETS
EQUITY
DEBT RATIO
OPERATING
LIABILITY
RATIO
INVENTORY
5

RPM International Inc.
(RPM) Taking Toll on Day
After Financial Ratio
Analysis
RPM International Inc. (RPM)
stock price fell -5.39% with the
closing value of $60.5 during
Wednesday trading session.
Along recent loss drift, stock
price presented -11.20%
lower comparing value from
it 52-week high point and
showed
30.50% rise in value from its
52-week low point. RPM
International Inc. traded
4071924 shares at hands
versus to its average volume
of 1125.97K shares. Mostly all
the indicators used in
technical analysis are based
on pricing data.
Volume, though, is an
independent variable and
can therefore be extremely
useful in confirming price
action. There are lots of ways
of using volume, such as the
construction of oscillators, on
balance volume lines, and
the design of indicators using
both volume and price. It is
important to understand
there is always a perfect
balance between buyers
and sellers because the
amount of a security sold is
always identical to that
which is purchased.
6

FINANCIAL
RATIO
What moves pieces is the relative enthusiasm
of buyers or sellers. If sellers are more
motivated than buyers the price will decline
and vice versa.
Several salient technical indicators of RPM
International Inc. are now starting to make
their way into the trading conversation. Every
investor and other stake holder of firm are
most concerned with its profitability. So, to
answer these concerns frequently used tools
of financial ratio analysis is profitability ratios,
which are used to determine the company’s
bottom line and its return to its investors.
Start focusing on ordinary profitability ratio
which covers margins; RPM has a profit
margin of 6.30%. It has gross profit margin
ratio of 41.00% for trailing twelve months and
operating margin is calculated as 9.40%;
these are a better detector to find
consistency or positive/negative trends in a
firm’s earnings. So upper calculated figures
are representing the firm’s ability to translate
sales dollars into profits at various stages of
measurement.
To walk around the gross margin figure of firm
that looks at how well a company controls
the cost of its inventory and the
manufacturing of its products and
subsequently pass on the costs to its
consumers.
7
10

The Latest Solar Company
Taking a Buyout
Don't look now, but the solar industry is slowly
exiting from public markets. Trina Solar and
JA Solar have gone private, and Canadian
Solar's CEO is trying to take his company off
public markets. Now, Hanwha Q Cells is trying
to exit the public market with an $825 million
buyout offer from its parent company,
Hanwha Chemical Corporation, earlier this
week.
If the deal goes through, it would mean that
JinkoSolar will be the last major Chinese solar
manufacturer to be publicly traded in the
U.S. The solar experiment hasn't gone well for
U.S. investors, and now companies are
seeing greener pastures as well.
Reorganizing without the public spotlight
Hanwha Q Cells and other solar
manufacturers may see being private as a
way to slowly improve their business and
return to profitability.
As public companies, there was pressure to
grow, which meant taking on debt to build
manufacturing capacity. That debt is
ultimately what caused the collapse of some
of the industry's biggest manufacturers
(Suntech Power and Yingli Green Energy).
The last company standing
This may be the last hurrah for public solar
companies in the U.S. JinkoSolar is the last
major Chinese manufacturer to remain
public, but it's facing high debt and low
profitability, just like the other companies that
have been taken private.
Chinese solar manufacturers may dominate
the global solar industry, but they've been a
flop as investments in the U.S. It looks like one
by one they're being taken off the market,
leaving fewer options for solar investors.
Maybe that's for the best.
8

The Reserve Bank of India has
further activated additional
funding lines for non-banking
finance companies (NBFCs),
including housing finance
companies (HFCs), by
temporarily relaxing
regulatory prescriptions so
that banks can take higher
exposure to them and also
draw more liquidity under the
so-called ‘liquidity coverage
ratio’.
The twin moves could
encourage banks to lend
more to NBFCs.
They are probably aimed at
ensuring that NBFCs don’t
face any liquidity constraints
in the wake of debt defaults
by IL&FS and some of its arms
and stem any spillover of the
high real estate exposure of a
few HFCs to other NBFCs.
The RBI on Friday upped the
single-borrower exposure
limit for NBFCs that do not
finance infrastructure, from
10 per cent to 15 per cent of
capital funds, up to
December 31. This relaxation
will enable banks to
temporarily take a higher
loan exposure to NBFCs.
G-Sec holdings
This has been permitted
under FALLCR (Facility to
Avail Liquidity for Liquidity
Coverage Ratio) within the
mandatory SLR (statutory
liquidity ratio) requirement.
The central bank also
announced that banks will
be permitted to reckon
Government Securities (G-
Secs) held by them up to an
amount equal to their
incremental outstanding
credit to NBFCs and HFCs,
over and above the amount
of credit to NBFCs and HFCs
outstanding on their books as
on Friday, as Level 1 HQLA
(high quality liquid asset).
10

Big Banks Should Not Try
To Weaken The Leverage
Ratio
The leverage ratio, one of the most
important additions to postfinancial
crisis bank reforms might
be changed next year. The Basel
Committee on Banking Supervision,
the international standards setter
13
for banks, released a consultative
document today ‘Leverage ratio
treatment of client cleared
derivatives’ soliciting comments
from members of the public who in
any way are
affected by
the leverage
ratio.
The purpose
of the
leverage
ratio is to
complement
the existing
risk-based capital requirements for
banks under Basel III. According to
the Basel Committee, the leverage
ratio “provides a safeguard against
unsustainable levels of leverage
and by mitigating gaming and
model risk across both internal
models and standardized risk
measurement approaches.”
Fortunately, the Basel Committee is
requesting that parties who
provide comments “provide
supporting concrete and robust
empirical evidence as to whether
the existing treatment should be
revised.” After all comments are
received, the Basel Committee will
review them next year. Based on its
analysis, three options are possible.
The first option
would that if
there is not
enough
evidence that
the leverage
ratio needs to
change, the
Basel
Committee will
retain the
existing treatment of client cleared
derivatives as currently set out in
Basel III. This approach would
adhere to the leverage ratio
principle that “banks must not take
account of physical or financial
collateral, guarantees or other
credit risk mitigation techniques to
reduce the leverage ratio exposure
measure.”
11

FINANCIAL
RATIO
David's Bridal flirts with possible
bankruptcy after skipping debt
payment
13
The nation's leading wedding retailer is flirting
with the possibility of bankruptcy protection,
which often involves some store closures,
after skipping a key debt payment.
David's Bridal, whose tight grip on the
wedding business has loosened in recent
years amid digital competition and declining
marriage rates, failed to make a key loan
payment Monday.
That move served as a warning to creditors
that the company is barreling toward a
restructuring effort of some kind. Failing to
make a debt payment is often a precursor to
filing for Chapter 11 bankruptcy protection.
There's a "very high likelihood" of bankruptcy
or a consensual debt restructuring for David's
Bridal, said Mathew Christy, an S&P Global
Ratings analyst who tracks the retailer.

FINANCIAL
RATIO
To be sure, David's Bridal said it voluntarily
skipped the payment as it continues to
negotiate a potential restructuring deal with
its creditors. That means it has the financial
wherewithal to make the payment.
The company has a 30-day grace period to
pay up, though S&P said it's "highly likely" that
won't happen.
"Our financial outlook is strong and we have
ample liquidity to meet our key business
objectives today and, in the future," David's
Bridal said Thursday in a statement.
"With the assistance of our financial and legal
advisors, we are engaged in discussions with
our lenders in order to reach a mutually
agreed upon resolution designed to
strengthen our balance sheet so we can
increase our financial flexibility and further
invest in our business."
David’s Bridal still sells about one in three U.S.
wedding dresses through its more than 300
stores and website, with estimated annual
retail revenue of $791 million, according to
market research firm IBISWorld.
14

FINANCIAL
RATIO
Ditch the dog walker and sell the house:
Couple with too much debt must learn to
live within means
Situation:
Spending exceeds income,
debt service takes 44 per
cent of budget, savings
inadequate
Solution:
Sell house and rent, direct
discretionary income to
paying down debt, cut
spending
A couple we’ll call Sam and
Susie, both 50, live in Ontario
with their two children, who
are in university. The parents
work in high tech and bring
home $7,068 per month, but
they are in trouble. They owe
$550,630 including their
$496,591 home mortgage.
They are also spending all
their income and then some,
with their monthly allocations
topping $7,500, including
meager $100 contributions to
their RRSPs.
Debt management
The couple spends $33 per
month on a 12 per cent
credit card debt of $2,751,
$150 per month on an
$18,989 unsecured line of
credit at 8.2 per cent, and
$500 per month on a $32,319
secured line of credit at 5.2
per cent. That’s a total of
$683 per month. They need
more cash for payments and
a plan to slash interest
expense.
They can raise $150 per
month by finding a new
supplier of phone and
internet services for which
they now pay $356 per
month. That money can go
to debt reduction.
“The irony is that our couple
has invested in more life
insurance than they are likely
to need and invested less in
retirement savings that they
must have,” Anderson
explains. “If they sell a house
they cannot afford, rent what
they can afford, and pay all
debts, they will get to age 65
and have modest but
adequate retirement income
and security.”
15

HORIZONTAL
2. When a customer is consistently
late in making payments, has
exceeded their credit limit or is
identified as bad risk, you can
prevent additional purchases by
picking their accounts on..
VERTICAL
1. Is the process of granting
credit and recovering this
credit when it`s due...
5. Is a term used by Dun and
Bradstreet for a numerical
score granted to businesses as
a credit store for the
promptness of their payments
to creditors
3. Corporation that offers
information on commercial credit
and report on businesses
4. Is a judgmental risk score
develop for use in emerging
markets
6. Are the payments requirements
stated on an invoice
ANSWERS:
1.Credit Management 2.CreditHolds 3.DunsAndBradstreet 4.EmmaScore 5.PayDex 6.CreditTerms
18

Building a solid business credit history is
essential if you plan on staying in business for
a long time. Not only is it helpful when
applying for a business loan, but it can also
make it easier to find and work with suppliers
and vendors.
Building business credit can take time,
though, so it’s important to start the process
as quickly as possible. Here’s what you need
to know.
How long does it take to build
business credit?
There’s no hard-and-fast rule for how long it
will take you to improve your business credit
history. A lot of it can depend on whether
you’re starting from scratch or you’re trying
to get back on track after some missteps.
And if you do have an established business
credit history with some negative items on
reports, it can also depend on how much
positive history is there too.
Even if you’re starting with a clean slate, it
can take a while just to get a score. Dun &
Bradstreet, for instance, won’t issue a
PAYDEX score for your business until you have
at least two tradelines with at least three
credit experiences.
Depending on your business’ needs, it can
take months if not years to get to that point.
As such, it’s important to focus more on what
you can do now to improve your business
credit history and address potential
roadblocks in the way.
Pro Tip: Take charge of your financial
health today with a FREE Nav account. We'll
protect and monitor your personal and
business credit, so when it comes time to find
financing you're prepared on all fronts.
19

How to get your business
ready to build a credit
history?
Building business credit from
scratch isn’t quite the same
as it is with personal credit. It
requires more than just
applying for a loan or credit
card and making on-time
payments. Here are three
steps to take to set up your
business for a credit history.
Separate your business from
your personal life
Your business typically needs
to be viewed as a separate
entity to start building a
credit history. This may
require you to incorporate
the business or form a limited
liability company.
It’s also critical that you open
a business checking account
and consider getting a
business credit card to make
sure that your business
expenses are completely
separate from your personal
finances. Make sure the
business checking account is
in your business name.
Finally, get a dedicated
business phone line and list it
under your legal business
name.
Get an employer
identification number
If you’re a sole proprietor, you
are, for all intents and
purposes, your business. But
you can’t build a business
credit history with a Social
Security number. Instead,
you’ll need to get a federal
employer identification
number (EIN).
Don’t get caught up in the
name, though. You don’t
have to employ other people
to qualify for an EIN. It’s just a
way of identifying your
business as a separate entity.
You can apply for an EIN
online for free through the IRS
website.
Register with Dun &
Bradstreet
Dun & Bradstreet created the
Data Universal Numbering
System–D-U-N-S number for
short–in 1962 to identify
business worldwide.
That number is tied to the
credit profile Dun &
Bradstreet builds on your
business. But the company
doesn’t necessarily create
one for you automatically.
If you’re a Nav customer, use
the Business Launcher tool to
see if your business already
has a DUNS number. If it
doesn’t, you can apply for
one through the same tool.
Otherwise, you can visit Dun
& Bradstreet’s website to look
up or apply for a DUNS
number.
You’ll need to provide some
basic information about
yourself and your business.
Once you submit the
application, you should
receive your number within
30 days.
5 steps to improving your
business credit
Once your business is set up
to build a credit history, what
you do next is critical to
ensuring that only positive
information gets to the three
business credit bureaus, Dun
& Bradstreet, Experian, and
Equifax.
1. Stay updated with the
credit bureaus
2. Borrow only from
lenders who report to
the credit bureaus
3. Establish tradelines
with your suppliers
4. Always pay on time or
even early
5. Avoid the big issues
The bottom lines
Building business credit
history doesn’t happen
overnight. It takes a lot of
time and effort to get where
you want to be. As you build
your business and want to
borrow affordably establish
good relationships with
suppliers, having a solid
business credit history is
essential.
20

Dun & Bradstreet Named A Leader
Among B2B Marketing Data Providers
by Independent Research Firm
The company received the highest scores
possible in the data coverage, analytics, goto-market,
and product roadmap and vision
criteria and was among the second highest
scores in the data acquisition and processing
and data management criteria.
"The first investment a marketing leader
should make is in their data," according to
Josh Mueller, Global Head of Marketing for
Dun & Bradstreet. "Having a solid data
foundation that is also connected across
departments is critical for the modern
marketing organization to optimize
performance."
The report examines a variety of data
parameters and states that "Dun & Bradstreet
is a dominant provider of firmographic
company data, which its ubiquitous D-U-N-S
Number (for establishing a business credit
profile) — a de facto requirement for global
commerce — epitomizes.
Dun & Bradstreet leverages the D-U-N-S
Number as a unique identifier throughout its
offerings for marketing, sales, and data
management use cases; many B2B
companies share this practice.
The company's offerings for sales use cases
demonstrated a slick UI and strong alerting
capabilities. Its marketing solutions offer
strong look-alike account modeling
capabilities, including a compelling
visualization of the geographic distribution of
target accounts for territory planning.
Customer references praised the quality of
reporting for account planning and a recent
platform upgrade for improving user
experience."
"The uses for data in the B2B marketing arena
are expanding rapidly and at Dun &
Bradstreet we have a deep and broadening
portfolio to help B2B marketers meet those
needs," said Michael Bird, EVP & GM, Sales &
Marketing Solutions at Dun & Bradstreet. "The
findings of this report reflect, in our opinion,
the emphasis we have put on designing
solutions to help our customers use data
intelligently to maximize their business
performance."
Dun & Bradstreet offers a wide portfolio of
solutions to improve performance across the
entire business.
21

FICO credit scores may
jump, yet consumers should
be wary. Here’s why
FICO credit scores are getting an overhaul,
which may make it easier for shakier
borrowers to access credit.
On Monday, FICO, a leading credit-scoring
company, along with Experian and Finicity,
announced plans for a new system that
considers how prospective borrowers
manage their cash. That change could result
in scores for some going even higher.
The pilot program, called UltraFICO score, is
designed to give people with dings on their
credit histories a chance to have their
banking activity considered as well,
including how long accounts have been
open and evidence of saving.
At the same time, credit card interest rates
have never been higher, setting the stage for
potential problems for some consumers.
The average credit card interest rate is
currently 17.01 percent, according to
CreditCards.com’s latest report. That’s up
from 16.15 percent one year earlier and 15.22
percent two years ago.
A separate report by CompareCards
recently reviewed credit cards from 50 of the
nation’s largest retailers and found the
average score card APR is now nearly 25
percent and can be as high as 30 percent.
And despite the dangers of high-interest
loans, the number of credit-card accounts in
the U.S. is rising quickly.
About 75 percent of Americans now have at
least one credit card. Even with APRs well
over 20 percent, 3 out of 4 Americans have
also had a store credit card and 1 in 3
Americans has at least two. However, nearly
half of Americans who have had a store card
said they regret getting one, Compare Cards
found. Often store cards seem attractive
because of benefits like a discount on your
first purchase and “special financing,” which
give cardholders an interest-free introductory
period — often 0 percent for anywhere from
six to 24 months.
Yet nearly all of those offers come with a
catch called deferred interest. If the balance
is not paid full by the end of the period, then
you’re charged with all of the interest that
would have accrued on the purchase dating
back to the original purchase date – at the
exorbitant APR.
22

$

25

26

Offer
Startup Roundu
For Loyalty Pr
When driving innovation and
taking new approaches to
payments, FinTech startups
can increase choice for
banks, retailers and
consumers.
Last month, startups such as
Modo helped airline
customers find more ways to
spend their points, while
DadeSystems sought to assist
banks in giving their
corporate consumers more
treasury marketing offerings.
Here is the latest news from
startup-land in September.
Modo
In the travel payments
space, Modo helped an
airline take a new approach
to its loyalty program. The
company created a widget
that allows customers of the
Etihad Airways loyalty
program to log into their
accounts as part of the
FinTech Abu Dhabi
Innovation Challenge.
To use the widget and
redeem their points,
customers log into their
loyalty accounts, then use
a combination of points and
another form of payment.
The widget allows the airline
to capture how many loyalty
points the consumer wants to
use, and allows the consumer
to enter their credit or debit
card information. Through
the checkout page, the
widget provides a single card
for that transaction, and the
Etihad reservation site
processes the purchase as it
would for any other card.
This type of multi-tender
option can cause
headaches, however, as
merchants are processing
two different transactions
and settlements. That can
pose a particular challenge if
consumers want, say, a
refund or a change in
itinerary, as a customer may
no longer be able to go on a
planned trip or may need to
change the routing. The
process for a refund, reversal
27

p: New Options
ograms, Bank
ings
or void is very clear for a
credit or debit card,
according to Modo CEO
Bruce Parker: “It happens
every day,” he said. Loyalty
points, however, live in a
different system.
In other words, they don’t
process a reversal or
redemption the same way as
cards. However, Modo
interprets that process,
makes it interoperable and
says “What does the loyalty
system do?” In this case, the
loyalty system cancels the
redemption and returns the
points if the settlement hasn’t
occurred. If it has occurred,
though, the process re-credit
back the points. According
to Parker, that illustrates the
differences between loyalty
points and cards in a
scenario that happens every
day.
DadeSystems
When it comes to banks,
DadeSystems is rethinking
treasury market offerings.
Historically, banks have
started wholesale and retail
lockbox businesses. “For a
long time, that’s been a
successful model,” Tom
Berdan, chief marketing
officer at DadeSystems, told
PYMNTS in an interview.
However, as payment types
and payment channels have
grown to become more
electronic, the amount of
lockbox payments is
declining rapidly.
In one case, a payer may
send a payment through a
supplier network, such as
AvidXchange. In turn, a
company may receive a
deposit into their bank
account a couple of days
later and have to pull the
remittance information from
the supplier site. In another
case, which Berdan said is
more frequent, payments will
come from an accounts
payable system within the
payer. Most commonly, 28

payer. Most commonly, those payments are
sent by automated clearing house. (ACH).
The remittance details, however, are
typically sent separately through an email.
As an example, Company A might receive
an invoice for $10,000. That company might
originate an ACH transfer to pay that $10,000
transaction and send the payee an email to
say the payment is on the way. In addition,
the company might send the payment
details in an email, PDF document or an Excel
spreadsheet (if there is a large volume of
payments). The customer receiving the
payment, though, is left to do a lot of work:
Since most systems can’t read and parse an
email or an electronic file, such as a PDF or
Excel spreadsheet, they have to manually
post the payment.
As corporates face these kinds of challenges,
FinTech firms like DadeSystems seek to
provide solutions to meet their needs. Banks,
in particular, can benefit from partnering with
FinTech firms that can help them get access
to quicker development, rather than going it
alone. In addition, banks can tap into the
expertise of such firms that keep an eye on
the latest developments.
“We’re out in the marketplace every day
dealing with corporates and seeing the new
trends out there to support the changing
payment landscape,” Berdan said,
indicating that FinTech firms are on the front
line of innovation.
Tips for individuals using
person-to-person payment
systems
Sending and receiving money is easier than
ever before thanks to electronic fund
transfers, often called person-to-person (or
P2P) payment systems.
Person-to-person payment systems, like
PayPal, Venmo, and Zelle, allow consumers
to link bank accounts, debit cards, and/or
credit cards to send and receive money to
another party via mobile and desktop
applications.
While these P2P programs offer great
convenience, they can lead to potential
hassles or worse for unsuspecting consumers.
To help consumers navigate the P2P
landscape Tennessee Department of
Commerce and Insurance’s (TDCI) Division of
Consumer Affairs is offering tips to consumers
who utilize P2P services.
“Person-to-person payment systems may
offer convenience, but consumers should
take the same precautions with these
applications that they would with their bank
accounts,” said TDCI Commissioner Julie Mix
McPeak. “Each company provides varying
levels of account and purchase protection.
Tennesseans should always conduct their
research before selecting a P2P system.”
29

Unscrupulous individuals can use person-toperson
payment systems to perpetrate
scams if consumers aren’t careful. For
example, if the person you are purchasing a
good or service from asks that money be sent
through PayPal as a “Friends and Family”
transaction, proceed with caution. While this
method doesn’t charge the seller fees,
consumers have no buyer protection in case
of fraud. This scam is particularly popular for
Facebook Marketplace and Craigslist
transactions. Additionally, some fraudulent
individuals offer P2P services for online
purchases because they can charge the
individual before the item ships. Always pay
close attention if the seller charges for the
product before it is shipped out.
To help you make the most of person-toperson
payment systems, TDCI’s Division of
Consumer
ONLY SEND AND RECEIVE PAYMENTS WITH
PEOPLE YOU KNOW
Never send money using the “family and
friends” option if you don’t know the person.
Although “service or good” transactions
charge the recipient a fee, they may also
provide fraud protection. If the transaction
turns out to be a scam and it wasn’t
processed as a “service or good”
transaction, the payment won’t fall under
the fraud protection policy.
RESEARCH THE COMPANY
If you are using a P2P service to purchase
goods or services, research the company or
individual with whom you are looking to do
business. Ask former customers or conduct an
Internet search for previous customer
reviews.
Affairs offers the following tips:
UTILIZE SECURITY MEASURES
Many services offer multi-step verification.
This includes adding a PIN, fingerprint, or
facial recognition in addition to a password.
It’s best to use as many forms of
authentication possible for the best
protection.
CREATE UNIQUE PASSWORDS
Avoid using the same or similar passwords for
various financial accounts. Ensure your
person-to-person accounts utilize different
passwords than your bank accounts.
OPT-IN FOR TRANSACTION NOTIFICATIONS
Being notified of outgoing payments could
provide an early warning that someone has
accessed your account. Many P2P services
offer email, text, or push notifications that
send you an alert when money is debited or
credited to your account. Ensure these are
turned on in your user settings.
DOUBLE CHECK THE RECIPIENT
A typo in the username, email address, or
phone number could cause you to send
money to the wrong person. Check for errors
before submitting the payment.
UNDERSTAND THE FEES AND PROTECTION
POLICIES BEFORE HITTING ‘SEND’
There are several platforms with various ways
to send and receive money. Some
companies charge if you use a credit or
debit card for transactions and for
transactions out the United States. Others
charge a fee for the product or service, but
don’t offer any purchase protection.
Research each company you are
considering and their policies before signing
up and linking your bank account or credit
card.
30

Earthport, a global payments company,
announced Thursday it has been named by
BNP Paribas to provide Automated Clearing
House (ACH) cross-border payment services.
In a press release, Earthport said that BNP
Paribas Fortis, a subsidiary of BNP Paribas and
Belgium’s largest bank, with annual revenues
of €43 billion, will be the first to deploy the
services. With the partnership, BNP Paribas will
gain access to Earthport’s payments
network, offering lower costs and transparent
international payments.
“We are delighted to have reached the first
stage of live deployment with BNP Paribas.
This is just the start of our collaboration, and
we look forward to rolling out our services
across the group. Consumers and businesses
expect the same ease and speed for their
international payments as they get with
domestic ones,” said Amanda Mesler,
Earthport‘s CEO. “That’s why this
collaboration is focused on evolving our
network and setting new industry
benchmarks on predictability and
transparency for our clients and their
customers.”
The company said its bank-grade
compliance and regulation expertise also
reinforces BNP Paribas’ existing risk and
compliance framework, which enables BNP
to provide services to new regions quickly
and easily, in line with customer
requirements.
Damien Godderis, head of payment
networks for BNP Paribas, said, “We are
committed to providing the best service and
options to our customers. Earthport supports
us in doing this through the global reach of its
payment network, which means our
customers have access to established as well
as emerging markets which are increasingly
becoming more important.”
32

1. NIONOSTCIAOLD
2. ICNANILFA SNTMATETES
3. EAALNBC ESESTH
4. OEMCIN SMETETNSAT
5. SHAC WLSFO
6. RADIENTE SGEIRANN
7. AESTSS
1. Are the combined financial statements of a parent company.
2. Are written records that convey the financial activities and conditions of
a business or entity and consist of four majors.
3. States the assets, liabilities, and owners' equity at a particular point in
time.
4. Is a financial statement that reports a company's financial performance
over a specific accounting period?
5. Is the net amount of cash and cash-equivalents being transferred into
and out of a business?
6. Is also known as a statement of owner's equity, an equity statement, or
a statement of shareholders' equity.
7. The balance sheet equation can be expressed as ______= Liabilities +
Stockholders' Equity.
ANSWERS:
1.Consolidation 2.Financial Statements 3.Balance Sheet 4.Income Statement 5.Cash Flow 6.Retained Earnings 7. Assets
34

Ins and outs of debt
consolidation in Europe
Credit is a convenient way of buying goods
you need now, then paying for them over a
period of time. However, according to a
recent report by The Money Charity, the
average UK household has nearly £8,000 in
consumer credit debt – from a combination
of things such as personal loans, credit and
store cards and overdrafts.
If you’re managing multiple lines of credit, it
can be challenging to stay on top of
repayment dates and interest rates. So, one
option is to consider consolidating your debts
into a single loan.
We take a look at the ins and outs of debt
consolidation. ‘Taking out a loan to sort out
your debts might sound counterintuitive - yet
it could end up saving you money.'
What is debt consolidation?
Debt consolidation is using one loan to pay
off all your outstanding debts - such as
personal loans, overdrafts, store cards and
credit cards. This can help you regain control
of your personal finances, particularly if
you’re accruing interest on multiple loans or
finding it hard to manage several monthly
repayments.
How can taking out a new loan help you pay off
existing debts?
By consolidating all your debts into a single loan,
you’ll have a clearer view of your finances. This
makes it easier to organize your monthly budget,
borrow to pay them all off – make sure you refer
to the terms of the loan and include any interest
owing, early exit fees or other charges.
It also helps to know how much the total
repayments for all your loans would be, if you
continued as you are. This way you can make
sure you choose a loan provider that won’t just
help you consolidate your debts but also save
you money in the long run.
Choosing a financial provider
It’s important to choose a reputable financial
provider that meets your needs – so make sure
you do your research in advance.
Things to consider:
What monthly repayments can you afford?
Be honest: it’s vital to choose a loan that works for
your circumstances.
Interest rates (APR). How do they compare to
your current rates? Are these fixed or variable?
Ideally, you’ll be looking for a fixed interest rate
that’s lower than your current providers’.
Term of the loan and total amount owing. How
does the length of the loan affect the total
amount you end up paying? If you can
afford it, would you be better off paying
more every month for a shorter term? It might
help to use a debt consolidation calculator.
Fees and charges. Are there fees for setting
up the loan, or early exit fees if you’re able to
pay it off sooner than anticipated? Include
these in your calculations.
36

Missed payment charges. Although you
want to avoid this, if you do miss a
repayment, what are the late fees and how
will this affect what you owe?
Debt consolidation loan options
Some financial institutions offer debt
consolidation loans, to help you get your
finances back on track. Other options
include: personal loans, overdrafts and
balance transfers low or interest-free credit
cards – an option if you only have credit card
debt. These are all known as unsecured loans
and tend to cover amounts from £1,000-
£25,000.
If you need to borrow more money, you might
want to consider a secured loan – where the
amount you owe is ‘secured’ against things you
own, such as your house or car. It is important
to remember however that, although they
often have lower interest rates than
unsecured loans, if you don’t meet your
repayments you might end up losing your
possessions.
Managing monthly repayments
If you’re consolidating your debts, there are
two important rules to follow:
Make sure you meet your monthly
repayments. Getting charged late fees and
accruing additional interest will mean you
owe more money in the long run.
Make a repayment plan and stick to it. Don’t
be tempted to use the loan for something
else, and try not to borrow any more money
in the interim.
Consolidating your debts can be an
effective way to regain control of your
finances. With multiple loan providers on the
market, it’s important to choose the one that
best meets your needs. And with a bit of
advance planning, you could end up not just
clearing your debts but maybe even saving
some money in the process.
37

Common Mistakes Businesses
Make on Financial Statements
A financial statement
provides an overview of the
financial activities of a
business or individual. In
business, these statements
can be crucial to helping a
business owner quickly
identify areas of concern. It
can also prove helpful in
determining whether a
business has the finances in
place to grow. When seeking
financing or partnerships,
businesses will often pull
financial statements to give
concrete evidence of the
company’s value.
Whether a business uses
accounting software or
manual processes to create
financial statements,
mistakes can be difficult to
avoid. Yet even one small
error can lead to costly issues
for any company that relies
on its numbers to make
decisions. Here are a few
common errors that tend to
appear regularly on businessbased
financial statements.
Balance Sheets
The biggest mistake made on
balance sheets applies to
classifying assets and
liabilities. It can be confusing,
even for financial
professionals, since assets
and liabilities fall into different
categories.
There are current liabilities
and long-term liabilities,
current assets and long-term
assets, and owner’s equity. A
business could accidentally
put a long-term liability into
the current liability column,
effectively increasing the
amount of debt that will
need to be repaid within the
coming year. This small
mistake could cause a
business to lose clients or
even investor capital, since
its finances may look less
stable on paper.
At one time, it was common
practice to “close the books”
at the end of the year and
refuse to reopen them, since
that information isn’t
expected to change.
However, the software
solutions many businesses rely
on don’t always have a
feature that locks books at
the end of each year. This
leaves previous balance
sheets open to accidental
entries after the fact,
changing a business’
balance.
Businesses should try to put
tools in place that will
preserve previous years’
balance sheets as historical
documents. If this isn’t
possible, business owners
should regularly check the
balance
balance to make sure it
hasn’t changed.
Income Statements
It can be easy to make an
error on an income
statement, since accurate
reflection means recording
every dollar of sales that
comes in. One missed sale
can throw off a business’
profitability ratios, since its
profit margins will be lower
than statements show. Since
this information is used to
value a company, repeated
instances of missed sales can
lower a business’ numbers,
potentially keeping it from
getting the bank loan or
funding it needs to move
forward.
In addition to recording
every single sale, businesses
must also accurately
account for each operating
expense. It’s easy to miss
even the most obvious
expense, especially if a
business is putting an income
statement together quickly.
38

Expenses can include
everything from salaries and
benefits, to meals, bank fees
and cost of goods sold. Errors
in calculating operating
expenses can lead a business
to overspend, since these
figures are also used to set
future budgets.
Sometimes, a company will
use a previous quarter’s
figures when ordering new
items, based on the cost of
goods sold listed for that
quarter. An error in this area
could lead a business to
order inadequate inventory
to handle the upcoming
quarter’s demand.
Cash Flow Statements
As with balance sheets and
income statements, errors on
cash flow statements can
severely hamper a business’
picture of its financial
situation. Misclassification
can be a common area,
since it can be easy to
confuse items like cash and
cash equivalents (i.e. assets
readily convertible to cash).
Cash flows are usually
divided into three major
areas: operating activities,
investing activities and
financing
activities.
Businesses must know which
items go into which
categories.
Operating activity cash flows
are generated through the
company’s core business,
while investing activity flows
come from money spent on
the business or buying and
selling investments. Cash
flows from financing activities
include items specific to a
business and its creditors,
such as taking out or
repaying a loan.
According to the Securities
Exchange Commission (SEC),
cash flow mistakes are
common enough to cause
concern. Since investors
place emphasis on cash flow
statements when making
decisions, the agency
emphasizes the importance
of making sure this
information is 100% accurate.
The SEC says many of the
errors are basic accounting
mistakes, such as failing to
account correctly for capital
expenditures purchased on
credit.
It’s important that businesses
know the difference
between operational,
investment and financing
cash flow, and they must
classify these flows
appropriately.
Financial statements often
serve as the backbone of a
company, guiding its owners
as they make major decisions
or seek business partnerships.
When errors are made, it can
impact the business’ ability to
stay competitive or win
funding, among many other
issues. By putting measures in
place to prevent even the
smallest errors, a business can
protect its bottom line and
ensure it has the most
accurate financial picture
available.
39

BIG BANKS,
AGGREGATORS
LAUNCH GROUP
TO HASH OUT
DATA-SHARING
ISSUES
Several big banks, including JPMorgan
Chase, Bank of America and Wells Fargo,
have joined forces with data aggregators
and fintechs to form a group designed to
create a consistent standard for sharing
customer information.
The Financial Data Exchange, launched
Thursday, could mark a turning point in the
battle between the various institutions over
how to safeguard data yet at the same time
allow access for legitimate purposes.
The goal is to create a standard that provides
interoperability within the financial
ecosystem in a way that maintains consumer
control, security and choice.
“We feel like it fuels innovation,” said Lila
Fakhraie, co-chair of the new group and
manager of the Digital Banking API team,
including the data-sharing program, at Wells
Fargo. “Today we’re all focused so much on
the risks and security aspects of things both
from the financial institution and the fintech
perspective. In the future, we could work
together and partner on how we can move
this forward in terms of innovating new,
better ways for customers.”
41

Steve Smith, co-chair of FDX
and CEO of the data
aggregator Finicity,
compares the new group to
the Bluetooth Special Interest
Group, which drove the
creation of the short-range
wireless communication
standard.
“Twenty years ago, five
companies came together
to talk about how devices
might connect seamlessly
and in short range,” he said.
“Had that not taken place,
we wouldn’t be looking at
the extraordinary amount of
innovation that’s taken
place; we all just take
Bluetooth for granted
today.”
Today the Bluetooth group
has 30,000 members, he
noted.
“In the financial services
industry, we have had fits
and starts,” he said. “There
haven’t been great,
concrete standards for how
this data can be used to
benefit the customer in
removing friction from the
lending process or providing
new great insights from
products and services
rendered by financial
institutions themselves or by
vendors.”
The new group’s board
members come from BofA,
BB&T, Capital One, Charles
Schwab, Citigroup, Experian,
Fannie Mae, Fidelity
Investments, Finicity, FS-ISAC,
Intuit, JPMorgan, PNC Bank,
Quicken Loans, the Securities
Industry and Financial
Markets Association, TD Bank,
TCH, USAA, U.S. Bank, Wells
Fargo, Xero and Yodlee.
Others are on the wait list,
according to Fakhraie.
“The board decided to
launch first and then start
evangelizing and increasing
adoption,” Fakhraie said.
“We know more companies
are interested and will be
joining.”
The group is a subsidiary of
the Financial Services
Information Sharing and
Analysis Center.
The Financial Data Exchange
is funded and supported by
banks, fintechs and data
aggregators. The board
members have an annual
financial commitment,
members pay a fee based
on the size of the
organization.
Taking on data disputes
The group will address some
of the challenges that arise in
trying to share consumers’
financial data.
One issue is the practice of
screen scraping, where third
parties use consumers’ login
information to access
accounts and “scrape”
account data. Banks would
like to eradicate this
practice.
42

“Banks view the way credentials are shared
in the marketplace as high risk,” Fakhraie
said. “It’s not only that customers are sharing
credentials and they’re out there, but also
the friction and the unreliability of the screen
scraping practice. And customers don’t get
to choose which accounts they want to
share.”
Under the Financial Services Information
Sharing and Analysis Center’s Durable Data
API standard, which the Financial Data
Exchange espouses, consumers are in
control, Fakhraie said.
For example, when a consumer wants to start
using a new fintech app and link a bank or
brokerage account to it, they are passed to
a secure server at the financial institution,
where they are presented with the financial
institution’s consent page and they authorize
the data they want to share with the new
app.
After authenticating, the consumer is passed
back to the app. Data sharing between data
aggregators or fintechs and financial
institutions is done through a virtual token that
identifies the consumer and their accounts.
The standard gives the customer visibility and
control, Fakhraie said.
“They can come to mobile or online banking,
view what data is being shared, and turn that
off and on at any time they choose,” she
said.
But the Durable Data API standard doesn't
directly resolve all such disagreements.
In one recent dispute, a bank claimed a
data aggregator would not agree to delete
data even after a person had stopped being
a customer or using a service. In this case, the
data aggregator also wanted to be able to
obtain routing numbers and move money in
and out of bank accounts which the bank
didn't want to allow.
The Durable Data API standard doesn't
resolve these issues.
“But we think it will solidify and pave the way
for how data is shared,” Fakhraie said. The
FDX is also thinking of creating a governance
framework for the privacy and security of
data sharing, she said.
Another complaint data aggregator have at
times made is that banks make them sign
onerous bilateral agreements that put too
much liability on the aggregator, not enough
on the bank.
“Those are issues that will continue to be in
the forefront of the minds of organizations
tasked with maintaining the security of
consumers’ data,” he said.
Finicity has signed a number of bilateral
agreements with banks including Wells Fargo
and USAA, Smith noted.
“We have always as an organization
suggested the bank is a custodian of their
customers’ data, and needs to maintain the
security of that data and needs to be
concerned about that data,” he said.
Some data-sharing disputes may be settled
by simply having all parties hash them out in
FDX meetings. The group has been holding
monthly board meetings and it meets in
person quarterly.
A data aggregator working group has also
been meeting regularly.
“I think this will be a great forum for the
interchange of ideas, discussion and
progressive development of standards for
the industry,” Smith said.
“We’ve been in this space for about four
years, and this has been refreshing to be able
to have that conversation, not only with
other financial institutions but also with
aggregators and other players within the
ecosystem,” Fakhraie said. “We all share a
common goal, which is sharing data in a
more secure, reliable way where a customer
has control over it.
43

This Project in my opinion was very interesting to make, because we got to see real cases of how
companies apply all the content we see in class, all the theory is there and has its presence in
companies, and no matter how big or small, or the type of company, the way a company
operates and take care of their goods has the same roots, in terms of functionality, in our project
we researched some information related to the topics, mainly news, because we think that news
are the best way to keep track of all the new information that is coming, we found out many new
about the topics we were looking for.
In our project we founded out many news concerning the topics reviewed in class, topic that is
very interesting to me was about the one about the solar systems going out of the public market,
it was intriguing to know that the main company that produces solar systems, is going to stop
providing their products to the public, it is important to understand the background.
Behind this decision, if a company retires their product from the public it means that privatizing it
should have a more profitable ending, the company must have been through a process of internal
evaluation to determine which was the most valuable and profitable way, applying the financial
ratios, a company can ensure that the decision process clearer to understand.
In conclusion it was very rewarding to see that the information we reviewed in class is useful,
because I’m sure that if I haven’t had learn that, I would have been more difficult to understand
certain topics that the news covered, we can’t really notice but the subjects we see in class are
actually very helpful, business magazines, and websites, can be really helpful to determine you
learning abilities, and make sure you are understanding the economic environment, I’m sure
there still a lot to learn and many topics that are still a little bit confusing, but the more we start
familiarizing with them, the easier it will be in the future to understand every aspect of the business
world.
45

Angelica Yareli
Gonzalez luevanos
As we all know now, financial statements provide an overview of the financial activities of a
company, business or individual; giving us the tools needed so we can take the greatest decision
that will get us to reach our goals more effectively.
In this project, we talk about matters and concerns of finance in the real world. Coming from
financial ratios and all the way to financial statements analysis, we are always surrounded by this
kind of information, so we better be prepared for when we get confronted by a financial decision
in our daily life or for a business matter.
We will all bump onto debt at least once in our lives. In this reports that we have talked about,
there are ways of coming out of debt and “how to´s “ for managing our money and business so
we can at least try to avoid debt as much as possible. Or in other hand, we can take David´s
bridal example on how to manage such hard times like bankruptcy and downfalls.
We also have an example of a couple living with too much debt, and talks about how ditching
unnecessary expenditures can lead us to a better financial manage; finding a new phone
supplier, internet and cable services, ditching the dog walker and doing more chores yourself
can be examples of a better financial manage
On the news, we also talk about the business credit improvement and how to apply it on your
business. Once your business is set up to build a credit history, what we do next is critical to
ensuring that only positive information gets to the business credit bureaus so we can get out of
them what we want and need for our business credit. Some advices about separating your
business from your personal life are given, this will help us to start building a credit history. It´s also
critical that we open a separate business checking account so we get clear the difference
between our personal and our business accounts and also debts.
We also talk about ways of payment, the P2P for example , which is a payment system like PayPal
that allows customers to link bank accounts to send and receive money to another party via
mobile and desktop applications. Sending and receiving money is now easier than ever with this
kind of electronic fund transfers. Although this is a convenient way to transfer money, we need to
be aware and informed of the platforms that we are using, utilizing the right security measures so
we can get the best performance out of the technology that surrounds us nowadays.
By saying all this, we got very relevant and crucial information from this project about how every
financial decision we make in our lives has an impact on a personal and global way
46

This final project helped me to realize that there are many concepts usually used in the financial
area which is an important area to study because of my career and my special interests, so I
learned how many of these Financial concepts are used in real life, like news, where we noticed
the importance of knowing how to read this type of texts. Financial terms help us a lot in our future
to bring us a large financial language, concepts like liquidity, financial ratios, things that seems
to be very simply and obvious are principal terms of our area that we must know.
Also concepts like “credit” in general, are used a lot, every credit term and credit hold that
conform a type of credit management in a corporation is very specific, also I learned that in the
U.S enterprises have a score of their credit, talking about the amount of days they`re late, if they
follow the terms, and other factors contribute to give them a grade of creditworthiness. We also
investigated about the Duns & Bradstreet platform and the bog impact that has nowadays
bringing such information of every business, this gave other enterprises the opportunity to analyze
each business at his credit history, using scores, data, preventing risk and providing strategic
financial services.
It is considered that the analysis of financial statements is a method, which applied to any
company allows you to accurately assess your financial situation allowing you to know in what
condition is, make the right decisions and observe the changes in the organization through time.
We also view concepts like lockbox which is a process of payment, and also its types of
businesses, then we talked about the different types of payment method, including transfers,
ATM`s, debit cards, checks, etc. If we want to have a nice job, or an own business, we must know
these financial terms and how to interprete them.
In addition, it is important to mention that the most important process of a business is the decisionmaking
process, which requires knowing the information and all the tools that the different
organizations, enterprises or banks of data bring us to have a financial analysis that should be
used to determine the best way to act.
In order to understand and implement the best way to improve a business know we have learned
this term, applying the right control of payment, preventing a harmful risk for the company,
determining if an inversion or a credit loan are optimal options or not, and calculating liquidity,
solvency, and performance.
47

The magazine contains all the concepts seen in all the classes during the course of the semester,
as well as news related to these concepts. This was of great benefit to me since I had the
opportunity to really see how people apply these concepts daily based in the workplace that I
will be focus on at the end of my career. It is important to know these concepts as well as to know
how to use them so that in the future my career will be enriched, and I will know how to make the
most of it.
The financial ratios were one of the main topics that were considered in this magazine, since these
are of great importance in the area of finance. The news that was found on this specific topic were
diverse, among them one was found in which the errors that are commonly committed in the
financial statements are shown, where it was said that in the balance sheets the error that is
commonly committed is when people classify assets and liabilities.
The second topic that was touched on in this magazine was Accounts Receivable Management
and Credit Management, the different concepts that make them up were mentioned, as well as
the news, where I was personally struck by one about Credit Management, which talks about
what is needed to improve your Business Credit, basically the news includes the perfect tips for
you to succeed improving your business credit, such as never mix your personal life with the
professional, sign up with Dun & Bradstreet and get an employee identification number. Talking
about Dun & Bradstreet I learned that it is a U.S enterprise dedicated to provide business, risk and
financial information for companies, which was a fact that I didn’t know.
Personally, the topic Accounts Payable Management seems to me one of the most interesting,
since it contains the concepts of lockbox, electronic funds transfer and automated clearing
house, which I think are very important since they created a great impact on the business of
Nowadays, they provide companies with forms of payment to suppliers and thus create a better
business relationship where the three parties are benefited, being the supplier, the client and the
banks in which these procedures are carried out. A global payments company was named to
provide Automated Clearing House payment services, and I think it was a very interesting new
since it will be very helpful to all the clients of this company because they will provide lower costs
and transparent international payments.
It is important to know the concepts related to the financial statements perfectly, since we are
constantly in situations where, knowing these concepts, we will have the opportunity to know how
to react to them. In the same way, as I mentioned before, in my professional career it is very
important to know about them in order to implement them correctly in my work life.
48

In this final project, the virtual magazine, the articles are basically about financial issues that were
seen in the class in a theoretical way but in this magazine is applied in our lives, whether
professional and personal. Currently, we as current students are not in an environment where the
financial terms are heard as if we were already working in our profession but it is important that
through the classes to go knowing about them because they will be needed.
In the different sections that are divided in the magazine from Financial Ratio to Financial
Statement Analysis, it is very interesting to know about the crisis that these companies or
businesses are going through and what are they doing to save them or what they are doing wrong.
An example of it, it the articles that talks about how long will take to improve our business credit
and it’s important to know because can make it easier to find and work with suppliers and
vendors, also to improve it depends on many factors such as your credit history because it takes
a while to get a score and basically takes months and of course, the most important is that you
need to separate your business from your personal life
Another articles that I really like a lot is the one that talks about common mistakes that companies
make on financial statement because we know that financial statements provides the overview
of the financial activities and with these, the board takes the decisions of the companies,
moreover, in this career and in this semester we are learning or we learned about it and we know
that if we make a single mistake whether is on the balance sheets or whether the income
statement or whether cash flow statements all is ruined and basically the company is going to
have a problem and this means that can and it will impact the business ability to stay competitive.
On the other hands, the term of consolidation, which is the process that involves combining two
loans into one, and there was a new also very interesting that was about the ins and outs of debt
consolidation in Europe article, I think it was a very complete new since it contained the definition
of debt consolidation. The article said that in the United Kingdom many people had various debts
such as personal, overdrafts of cards, among others, and that is why it is preferable to consider a
consolidation because at the end it could be of great benefit.
I really like to make this virtual magazine, it was something new as a final project and very
interesting because there’s not only articles also like learning games of words that we saw in the
class and makes it very entertaining for who is going to read it. Finally, I think that these project
helped me a lot to understand some terms that I was confused and know how to applied it
correctly and start to being more familiarize for the future.
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Being honest with this activity I thought I would learn many different things applied to what we
have learned during the semester, and I wasn’t wrong I got to know more than what I expected.
With all the articles I was able to recognize some of the applied theory that we have been learning
and with other things I had to make a deeper research because the financial is something rather
new for me and somehow difficult to understand when all the things we have learned get together.
One of the articles that got my attention was the one about Ins and outs of debt consolidation in
Europe and how you can use other loans to pay all your debt. I never thought about it , and it´s
something easy and more organized way. With this you can not only pay to one bank, instead of
paying to different ones, but also to recognize what kind of loans you are in and how much money
you are spending on it. To be able to make a good use of this decision of having one big loan to
pay the rest we have to be able to identify which financial provider you will use.
With other articles like ¨Couple with too much debt must learn to live within means¨ we can see
how finances aren’t only for companies. We also have to take in account that we ¨people¨ are
like a small company we generate our own money investing our time working. We have to make
our own financial statements to know where can we invest, our expenses and payments, and how
our money is being used.
The article mentions that the couple ¨ Sam and Susy ¨ they need more cash for payments and a
plan to slash interest expense. The solution was easy, analyzing where their money was going
(income) and how they can reduce expenses and create a long-term investment.
I enjoyed working on this project because I got to know more than just practice and theory but
also how this is applied to the real life. How finances are important for personal and business and
what can we do to avoid certain mistakes in the financial statements.
One small mistake can be a big problem in a company financial decision which that’s why it is
very important to be sure of what we are doing and that what we are doing is correct. Also with
our personal finances, we need to establish everything before start spending money on random
things that later can introduce us in to big debts that can we won’t be able to pay.
These articles helped us to firm up the analysis of financial terms in a practical way which was the
main purpose of this activity.
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