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Tip of the Day Consider Community College or Online College For Your First Year or Two

Consider Community College or Online College For Your First Year or Two - If you are finding you need the education but don't have the funds, or want to take...

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Variable Committed Expense

Variable Committed Expense - Variable committed expenses can happen from time to time, more than the usual or standard costs, even recurring occasionally. They can be temporary and/or periodic, for a short term, ever-so-often, higher, lower, fluctuating, but ever-present. Allowances for this flexibility and incidence is important in budgeting to off-set these occurrences. Necessary expense, higher and lower at times, can not be avoided, but their impacts minimized effectively. Anticipation, cutting cost, avoiding waste are countermeasures to off-set these impacts.  Downtime, maintenance are part of the budgeted costs of running/operating a business, projected cost in budgets. Parts and labor for example, how often equipment (will), break-downs occur, can be budgeted for, but not precisely predicted.  Having reserves and contingencies built-in holds the key to successfully dealing with these realities and challenges. Actions taken will center around minimizing escalation and upswings of these committed expenses, to ensure business continuity and functioning at all times. Planning, budgeting and resource management can go along way to address these challenges.

 

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Definition of the Day General Partnership

General Partnership – A general partnership is contractual business venture that features two or more partners.  This type of association is riskier than a Corporation.  Being incorporated allows owners to be protected under the umbrella of the “company”.  There is not limited liability for partners joined in this type of...

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