Credit scores are basically a track record on how well you manage your financial responsibilities. If I was a financial institution, and I saw that a customer wants to borrow money but was always late on payments, I would be a little hesitant at lending that customer money. It is very important to take your credit score seriously. Your credit score is one way to come up with an unbiased decision. Financial institutions and companies can provide credit for majority of the population by using the unbiased formula called the Credit Score.
This is where the business sells its accounts receivables to a business that specialises in debt collection. The debts will be put at a reduced amount by the factoring business, but the advantage is that it provides an injection of cash into the business with funds to continue operating and stops the problem turning into a solvency issue. Woolworths began using a factoring company to collect its accounts receivable at the start of 2015. This is a low-risk funding option for Woolworths and allows the business to meet its financial objective of liquidity. It saves the business time and effort involved in chasing debtors and allows management to focus on the prime function of grocery retailing, although it costs Woolworths a percentage of repayments to do this.
The consumers will benefit by obtaining the quality goods Kudler provides as well as customized promotions based on personal shopping patterns. Tracking the shopping patterns of the customers will help develop a marketing strategy for Kudler. This strategy will allow Kudler to offer certain products at times when an increase in demand has been determined by shopping trends. Kudler will also benefit from this program with an increase in revenue and a more stream lined business process. This program will keep track of individual customers purchasing behaviors, which will allow Kudler to know how much of a certain product to stock.
If Kudler’s were to handle payroll in-house it would save them money from having an outsource company take care of payroll for them. Kudler’s could also use a program like QuickBooks for invoices, receipts, customer’s information, etc. This would save a lot of time if they had to do it
The frequent shopper program can become an effective tool in the attraction and retention of loyal customers. Rewards that can be traded for luxury items will have a great influence in customer loyalty and attracting new customers. A positive response from the public is important and in order to ensure that response, Kudler Fine Foods must find and develop a proactive way to approach the public’s privacy concerns. Preventing conflict with consumers regarding personal data and how it will be used is simply fixed by keeping the consumers aware of just how it is being used. The number one concern for Kudler Fine Foods must be security and privacy of their consumers’ personal
Business Accounting SIGNature overall cash flow forecast was positive, which was really good. This is because SIGNature, cash inflows during a period of time are higher than the cash outflows during the same period. This doesn’t necessarily mean profit for the business, but it is mainly due to a careful management of cash inflows and expenditure. Overall SIGNature looks like a viable business with a positive cash flow, however they may face a few cash flow problems. A cash flow problem is when there is an insufficient amount of money to meet the end of month/year bills.
There have also been times that I have left a substantial tip for excellent service so it was easy to see both sides. In my experience of not leaving a tip, I have not had an experience as horrifying as being run over by a person who did not receive a tip. All I can say to that is in today's society, tipping is becoming a part of the electronic transaction. The debit or credit recite now shows a line where a tip can be charge to a card. Charging a tip makes the tip less obvious and the government is able to effectively record earnings for
It provides them with honest information about the credit card processing industry. It also aids them in communicating concerns with payment brands like Visa and Mastercard. In this essay we covered the social pressures may influence the company and how these issues may affect the company’s decisions. Lastly we then discussed the possible legal and ethical issues faced by the organization. References Chase Paymentech Solutions, LLC; www.chasepaymentech.com Manias, N., Monroe, D., & Till, J. E. (2013, 2011, 2009, 2004, 2000).
Planning your future business transactions can assist you in mitigating tax implications relating to your business as well as your personal lives. John has received the money from the settlement and there’s not much to do to mitigate the tax impact strictly on those earnings; but by using the funds to save for retirement, invest in the new building, purchase a new home, and even to help Jane start up her business will help decrease the overall impact as well as help you guys be better off business wise. The building and the equipment will become capital assets for each business and these can be depreciated over their useful life decreasing the burden on the businesses. Additionally any ordinary and necessary business expense can be used to offset their earnings and lower their tax liability even further. Hope all this information has helped you in some way, please let me know if you have additional questions or concerns.
Outsourcing brings proven benefits in the form of economic leveraging, increase in the quality of products and it provides a number of opportunities to less developed countries. For example in recent times, Americans are overwhelmingly supporting the major retail stores like Wal-Mart, Target and K-Mart. The reason behind this consumer loyalty is that it has become much easier to shop at these locations rather than the local mom and pop stores located on the corner of most neighborhoods. The benefit is that you can purchase everything on your shopping list from one location, saving you time, money and gasoline. In a highly competitive business world, on a firm’s priority list is the subject of increasing profit and reducing cost.