Why Indians succeed easily in Africa, part 3

Why Indians succeed easily in Africa, part 3

Know the difference between an asset and a liability. Even for some of us accountants, the clarity between assets and a liability is not so clear. For example, is a car an asset?

Take the following test:

Does your car have potential to increase future cash flows?
Does the benefits your car offers exceed the costs of ownership in the long term?
Does your car have a resale future value higher than the purchase and maintenance costs combined? Does your asset have readily available buyer anytime you would want to dispose of it?

You get the idea.

An asset should bring you income that exceed the […] Read more

What is your most valuable possession?

What is your most valuable possession?

You are 30 years old. You are still at University. You have a great job and two children. You live is a great apartment. You have heard about the green gold in farming and have bought over 20 acres of land up country. You have not yet started developing the land as you are waiting for it to increase in value.

You feel confident. You are happy at work. And you are becoming a motivational speaker of sorts.

 

Are you successful? How do you measure success?

 

What is your current market value? The accountants ask: what is your current statement of financial position? […] Read more