Finance Knowledge Archives - PersonalFinanceLab

Student Loans

Kevin Smith — Tue, 01 Dec 2020 18:35:20 +0000

What is a Student Loan? A student loan is exactly what it sounds like – a loan given to students to finance their studies. This is most common for college or university students, but also works for trade schools and other vocational studies. Most of the time when a person takes out a loan, they Read More...

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Comparative Advantage

Kevin Smith — Tue, 04 Sep 2018 19:53:58 +0000

Comparative Advantage is the term used to describe how one person, business, or economy, is able to outproduce one product or service compared to another person, business, or economy.

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The Accounting Cycle

Kyle Maclay — Mon, 27 Aug 2018 18:49:20 +0000

The Accounting Cycle is a series of steps that businesses take to track transactions and consolidate financial information over a specific accounting period (month, quarter, year). The end result of is the production of accurate financial statements for that period and preparedness for the next accounting period. Read this article for more information.

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Cost Accounting

Kevin Smith — Tue, 26 Dec 2017 21:02:47 +0000

One area of accounting is cost accounting, which focuses on internal reporting for the purpose of improving managerial decision making. Key concepts include cost allocation, cost-volume-profit and the role of a double break-even!

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Creating Financial Statements

Jinni Raisa Alingasa — Tue, 26 Dec 2017 17:15:41 +0000

A company’s financial statements give investors, managers, and other “users” a complete, honest look at its financial health. Finished financial statements follow a standardized format, letting investors compare different companies in the same industry apples-to-apples. These include Income Statements, Balance Sheets, and Cash Flow statements.

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Risk

Kevin Smith — Fri, 22 Dec 2017 20:56:04 +0000

Risk is one of the most important concepts in investing, economics, and personal finance, yet very few people really understand just how big a role risk plays in our everyday lives. Risk plays into insurance, investing, savings, and much more!

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Property Rights

Kevin Smith — Thu, 21 Dec 2017 15:15:37 +0000

“Property Rights” usually refers to a set of fundamental rights giving citizens control over their own land, capital, and ideas. Property rights is the foundation of all free-enterprise economic systems. It is what allows people to profit from capital and ideas, without fear of seizure by the government or theft.

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International Trade

Kevin Smith — Mon, 11 Dec 2017 20:49:21 +0000

International Trade is the system under which businesses, individuals, and governments trade goods and services. This exchange from many different National economies is what makes up the Global economy. This is impacted not just by the supply and demand of goods, but the supply and demand of currenies, and the laws and policies of the different governments

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Inflation

Kevin Smith — Sun, 10 Dec 2017 18:08:19 +0000

“Inflation” means that the general prices of goods and services goes up from one year to another. There are a few ways to calculate inflation - from a simple "basket of goods" compared over time, to complicated economic models looking across thousands of factors

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Fiscal Policy

Kevin Smith — Sat, 09 Dec 2017 16:39:37 +0000

The way the government organizes taxes and their spending to influence the economy is called the Fiscal Policy. Fiscal policy is controlled by congress and the president, and boils down to how they adjust spending federal money to encourage economic growth

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