My curiosity over money and finance
How does it feel to do something you love?Ever since i started getting serious with my blog, i have always been really curious.Especially on anything concerning money and finances,other people’s blogs on same and and even lifestyle finances.
Yesterday after church we decided to go for shopping with my sister at the supermarket then came back home.After unpacking i was really curious to know if my sister knows about keeping receipts.and so i decided to test her by asking “should i throw the receipts or what do you need them for?”She said that she always keeps her receipts and even file them should something happen later on.I smiled at her answer and asked again “why would you keep this specific receipts for a supermarket yet you have already done shopping?Her response was that she still has to keep them incase there could be a mix up or she might have forgotten something or that maybe if accountability was not done right.ofcos i got convinced that she understands and knows the importance of keeping such receipts.The same goes to companies (as i said in the previous post ).Companies keep records and receipts for accountability purposes after each financial year.
Here is another story,
My sister-in-law is an accountant and she also works in an accounting firm.so one day (like three weeks ago)we were on our way home when she received a call.I was all ears because i had her mention audit.The first thing that came to my mind was the fact that i have done audit in CPA but i have never really been sure of how it is carried out in real life for example companies and firms.So i definitely asked how they carry out audit at their workplace.She said that audit is done after every financial year.After keeping accounting records for their area of study and so the whole company,it is presented to the auditors who then carry out audit in identifying that all the accounting records are true and that they concur with the activities of the company (more details on audit coming soon).So it is important for companies to carry out audit after each financial year of their company.
I would also like to share with you my experience today,
My sister sent me to a specific salon today,only to realize that this guy carries out his services at home;he shaves,does retatch,bloudry,nail polish that is apart from plaiting.He has a small room with his wife who does nail polish.I got so impress at the fact that they use the little resources (their house )to generate income and their finances.His brother is the accountant where every client pays their money to after the services.I saw that and i remembered saving,budgeting and accountability.They really do their work well to their satisfaction ( they like their job )friends make use of the little opportunity you have to generate your finances.
I hope the stories have helped you in one way or the other.
two weeks to the end of 2016.
Next blog post will be on 10 FINANCIAL HABITS THAT YOU NEED TO STOP OR AVOID.Enjoy your week.