Financial Aid work

How Does Financial Aid work?

With cost of study going up day after day, it’s becoming hard for students with not-so-good financial conditions to pay the fees. Financial aid is what works as boon in it. Financial aid always seems scary thing to most of people, however, it’s not so. If you are wondering how does financial aid work, then you just need to read this post.

Financial Aid work

Know the Forms to Be Completed

Depending on college you opt for, there may be different forms you need to complete. The complete and accurate info about forms that you need to complete can be obtained from the intended college only. Since the form process may be bit lengthy, so you must start working on it before few weeks of admission date.

Know the Determination of Expected Family Contribution by Government and College

How do they calculate that how much your family can spend on college? To compute the Expected Family Contribution, a formula is used, which changes every year. You can know the latest formula right away by just performing Google search.

After the determination of EFC by government, the same is determined by the College. With the former, you can easily have an idea how much money do you need more to afford the college fees. Again, to determine the EFC by college, a formula is used which varies from one college to other. Just approach the college officials to know it so that you can have an idea how does your intended college determine the expected family contribution.

Try to Lower your EFC

If your EFC has been calculated to be low, then you can surely avail a handsome financial aid, but if not, then you need to spend more out of your own pocket. You must try to lower your EFC. This can be achieved by keeping very low money on child’s name. In other words, parents should money on their name rather than on child’s. This will make their child poor on papers, and thus, he/she will be able to avail maximum possible financial aid.

Declare your independence

If you are one of those many who think declaring independence will help you get more financial aid, then let me tell you, you are on wrong side. This will help you in financial aid for sure, but after passing through strict guidelines. You are independent if:

  • You are 24 years or older by December 31 of on-going year
  • You are Orphan or ward of the court
  • You are  veteran of the U.S. Armed Forces
  • You are married

Take Care of Deadlines 

The deadline is February or March. It may vary from one college to other. Turned in your application before the deadline to be on safe side. If you go late, then who knows, college may run out of money, and thus you may not receive the financial aid at all?

Certified Public Accountant ( CPA)

How to Become a Certified Public Accountant ( CPA)

How many of you are interested in becoming Certified Public Accountant? Those who are, must be full with immense dilemma at the moment. Don’t panic! This post will tell you everything about CPA, how to become so, requirements, etc. Just to provide first hand info, CPA is becoming one of the best career choices. By being so, you can have a handsome earning, and thus, a happy life.

Certified Public Accountant ( CPA)

What is CPA?

Before I tell you about the requirements and CPA exam, it’s good to make you aware about what CPA is all about. Well, as you might know, CPA stands for Certified Public Accountant. CPAs are meant to help government agencies, non-profile entities,  individuals, for-profit businesses in keeping accurate records. They also help in properly filing required documents and assisting with tax preparation. To cut the long story short, the CPAs are meant to help their clients in achieving the business goals. For this, they help in planning tax strategies and also provide the investment advice.

Areas of Specialization

The other thing you must know is the areas of specialization of CPAs. The main two areas are: public accounting, or corporate and business accounting. If we dig, there are many options we get. Here are a few of them.

Internal auditing

Internal auditors do verify efficiency and effectiveness of internal controls of a particular company. They also insure accuracy of financial data and mismanagement.


Managerial accounting

CPAs also help the company’s management team in preparing financial documents so as to help them take good business decisions.

Forensic accounting

In this field, CPAs check for the proofs regarding securities fraud, money laundering etc.

Information Technology

Just as the name goes, this field is related to IT, so the work involved is related as well. The CPAs help in testing systems to ensure security, safety and accuracy of data.

Environmental accounting

Managing disputes,  taking care of compliance audits monitoring green initiatives are some of important works/tasks involved in this field.


To make sure the clients don’t go through undesired, unnecessary costs, the CPAs help in making effective tax strategies.

CPA Exam Requirements 

Let’s now move to the requirements part.

Graduate from high school and get bachelor’s degree

First of all, you need to graduate from school. As an alternative to it, General Education Development (GED) examination is what you can take. You also need to have bachelor’s degree in accounting or finance. Some companies require you to have master degree as well.

Get certified in your state

four-part Uniform CPA Examination is what you need to take. Of course, you need to meet additional certification requirements as well.

Get a Job

You are all done with the process to be Certified Public Accountant. Now you just need to find a job. If your profile is good, yo can get handsome paying job easily.

Certified Management Accountant

How to Become a Certified Management Accountant (CMA)

If you are reading this post, you are probably at the point of life when taking any step will leave an impact on your career. In this rapidly growing era of business organizations, there is huge demand for Certified Management Accountant. You can have a happy and handsome living by being so. Those who don’t know, Certified Management Accountant is an accounting specialist who works for various types of businesses to help and inform them about their financial procedures. If you are in dilemma about how to become a Certified Management Accountant, then you are on the right page. The next sections explain it all.

Certified Management Accountant

Certified Management Accountant Requirements 

Just like any other field, to be CMA, there are certain requirements you need to pass.

Bachelor’s Degree in Finance, Accounting, or Economics

Let’s keep the first things first. You must have bachelor degree in Finance, Accounting or Economics. You need to have the bachelor degree from an accredited university. It’s common trend that those who want to work in business finance world opt for double major in business and finance. Many people also like to go for minor in business administration.

2 or More Consecutive Years of Professional Experience in Management Accounting or Financial Management 

Professional Work Experience requirements are must to be satisfied by every candidate to become eligible for CMA Certification. However, in order to be eligible to take exam, there is no compulsion of providing the work proof.

Apply for Membership in Institute of Management Accountant

You need to have membership of Institute of Management Account, means IMA. Depending on what is level of membership, the cost lies between $40 and $200. With the membership, you get access to exam preparation, continuing education courses and employment boards.

Certified Management Accountant Exam

If you satisfy all the requirements posted above, you are all set to take the exam. Below are steps involved to make it happen.

Apply for 2-part CMA program at

Go to the site and pay the fees that they ask. Once done with the fees, you are all set to take the exam within next 3 years.

Start Preparation 

Of course, in order to pass the exam and be CMA, you must have good preparation. You need to dedicate around 2 months to prepare properly for the exam.

Get Study Material 

Proper study material is the key to success in examination. You must have good study material with you to make sure you do well in exams. To get the study material, you can have conversation with candidates who already opted for exam.

Provide Eligibility Proofs to Institute of Certified Management Accountants

This is must step otherwise you won’t be allowed to take exam. You must submit the eligibility proof which will be then checked by the institute’s officials.

Take the Exam

You are all set to take the exam now. You must clear it within 3 years of starting the program. After clearing it, you will become Certified Management Accountant, eventually.

Business Finance

How to Manage Your Business Finance

Any business activities need finance to meet the requirements. It is the lifeblood of business organization either big or small concerns they need finance to carry out any business activity. Finance which is mandatory to promote a business, gain assets, developing products, market surveys or for promotional activities.

Business Finance

Many business owners actually struggle to keep track of their business finances. The small-business owners actually needs to some knowledge of every aspect of financing from book-keeping to cash- flow projections to acquiring loans from the bank. You don’t need to be an expert, but having knowing of your finances will certainly pave the way of your business success. A small mistake can turn out to be costly or problems can arise.

Cash Flow Projection is an essential tool

Cash Flow projection is nothing but the forecasting of the sales projection and the estimated expenses of that particular year. The experience of a small business owner helps while chalk out and assessing the market conditions in lieu of the total revenue that can be accrued. Without getting a more or exact idea of the future inward cash flow it becomes quite difficult to monitor the payments that have to be made for the marketing, operational and expansion cost, the human resource cost and so forth.

Hire a bookkeeper towards a strong foundation

Any appointed bookkeeper should be sincere and knowledgeable to handle the various humdrum of the daily finance task. A proper financial accounting system is always suggestible to keep an eye on your financial situation as it is the life blood of your business. Although you have full faith and trust the professional hired, you must have some knowledge of the accounting systems and the various types of company’s book that has to be maintained as it acts of the strong foundation of your business in large. Most of the business gets a beating without the strong financial accounting pillar.

Keeping a track of marketing activities in respect of income generated

You are quite tempted to spend a lot of dollars in various marketing activities to zoom up your sales graph. Keeping a track is quite essential how much income is being generated in return of your investment in marketing activities. It actually provides you to get a clear picture and to access so that the money does not drain out wastefully. It also helps you to find the faults of the marketing vehicle that you have subscribed and to shift to other low cost vehicles in respect of your income returns. Tracking ads, keeping a logbook for various sales calls is an obligation for you to sustain in your business.

Maintain a rapport with your bank

For a start up of your business, you will be needing loans. But this is not a one time connected with your bank or any other loan providing institutions. At the time of your business expansion you will again be needing their help. Establishing and maintaining a good relationship for the comprehensive loan proposal is not at all a one time event.

Insurance today

Best Reasons you need Insurance today

Three in every ten households in the United States have no Life Insurance cover. Alarming but true. People usually hold a perception that it cost more than it actually does and so usually gets omitted from their budgetary expenses. But we should take care of ourselves is what we should always believe that we are entitled to do something at little or no cost to ourselves. Insurance should be a safety net. The main purpose of the life insurance cover is off course to avail the death benefit, but the mindset can change positioning the ability to build cash values over his lifetime can bring more people availing life insurance schemes. The survey further clarifies that most Americans think that the process of acquiring a life insurance policy are challenging with lots of paperwork involved, health checkups and the decision which policy suits them the best that also have to change. The basic fundamental to actually opting for life insurance is that if you really love your family to protect them and the legacy. You never know what holds for you the very next day. Just think wisely to act sensibly and gain tremendously as a result of the rewards of insurance.

Insurance today

Anything can happen

God forbid, sudden death due to accident or illness like a massive heart attack or even from prolonged illness a person can die. Life insurance helps to support your love and dear ones to pay your bills, tax free cash to pay estate and death duties.

Death should not lead to debt

Your family loves you and so you also do. Make sure that your dependents are not left burdened with any financial obligation after your death. Pay your own dues by yourself and responsible enough to see they are not left in distress after you are no more. Life Insurance helps in this regard.

Think about your retirement days

Life Insurance is not only death benefit. There are various policies in life insurance programs which supplements your retirement benefits, saving your earning for your old age. You can opt for a policy where you will get returns monthly after you retire from your work. This will make sure that you will get returns when you are not working also.

Increases your financial asset

Availing a life insurance policy will help to increase your credit in return you can will be eligible to obtain any types of loans or even health insurance. It also helps your money to grow in a long run.

The universal truth if you are born some day or the other very man have to die. Death of a near and dear ones brings tears in our eyes. But at least as an individual as the bread winner of the house, you should not leave them in a mess. For your family it is the most saddest and distressful period,but a financial assistance obtained from the life insurance coverage would give them some sort of fuel to move ahead in life.