Crowdfunding a Better Option Than Banks for Entrepreneurs

At a time when banks have severely restricted loans available to small businesses and entrepreneurs looking to start new businesses, crowdfunding can be an invaluable source of capital. Crowdfunding is, as its name suggests, way for a business or charity to raise capital from a group of people. In essence, a business or charitable organization […]

Absorption Costing: Full Cost Accounting

Absorption costing adds apportioned overheads or indirect costs to prime costs to arrive at the cost of the product. Absorption costing involves the following three step process: Allocation – is the charging of direct overhead costs to the cost centres or cost units they relate to. Apportionment – there are two types of apportionments, primary […]

Bipartisan Financial Reform Bill in U.S. Senate: Federal Reserve Board Chairman Bernanke Lobbies Against Reformation

U.S. Senate Banking Committee Chairman Chris Dodd (D-Conn.) is spearheading a tripartisan Senate move to remove the Federal Reserve’s broad domestic regulating power and subject the U.S. central bank to government audits by a new governmental agency that would be called the Consumer Financial Protection Agency. According to financial analysts, the 30 Senate co-sponsors of […]