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    Options Backdating: Restatement: Meaning, Types, Impact
    Had a good discussion with a few analysts (financial) and accounting on the question around differences between Restatement and Recertification of results - what are they, what is the difference etc.?1. Restatement: It will effectively rewite a company's books. Dr. Min Wu of New York Univ of Business has a great paper on Review of earnings restatement. Here are some highlights:a) Restatements typically occur when a company, often in consultation with its auditors or the SEC, determines that the company's financial statements contained either "errors" resulting from "mathematical mistakes, oversight, or misuse of facts at the time the financial statements were originally prepared," or "accounting irregularities.” The dissertation focuses on these types of restatements. In reality, it can be hard to distinguish between intentional misstatements and misinterpreting the accounting rules.b) There are several reasons for restatements. The first involves companies that prematurely recognize revenues, or, even worse, recognize fictitious revenues. Misstating costs or expenses is one of the most common ways of twisting current-year profits. Common techniques involve overstating inventory, overstating other long-term assets, underestimating or overestimating reserves, and shifting expenses from one period to another.Restatement can involve SEC-filed annual reports (10Ks), which are audited, and possibly the quart
    y of extracting it) on Earth will enter a terminal decline. The challenge this presents is that while the SUPPLY is declining, the DEMAND for oil (and the plastics, electricity, etc, which are oil-dependent) continue to increase as population and industrialization continue to grow. It' said that US oil production peaked in 1970. World oil production, it is said by some, peaked in 2005. After a peak, production slows, profits decrease, and prices rise. You can already see the effects of this as gas prices start creeping upwards.

    3. Corporate downsizing persists More and more companies are outsourcing, downsizing and offshoring in an effort to cut costs. Companies, particularly public corporations, are bound by their charters and by law to seek first the profitability of their shareholders. That's why the decisions these companies make often seem less humanitarian and more profit-inspired. That's because they have to be.

    4. Global power and focus is shifting China and India are growing economic forces. They represent sources of labor, consumers, as well as increased oil and energy demand. Companies the world over in Europe, (Romania and Poland most recently made new

    Payroll Accounting Software: The Right One For You
    Business is about running numbers and managing money. It is all about keeping track on where the money is coming from and where it is going. One who doesn't keep a tab on it nearly always loses money and sometimes the business as well. Accounting software are a boon from heaven - or so they seem- as they reduce one's accounting burdens to such an unimaginable degree that one is left wondering if he overestimated the gravity of the problem in the first place.One such accounting software is the software for payroll accounting, which is an effective tool to meet the needs of small businesses, companies, institutions and the giant multinational corporations. The software is a feat not only to the business houses but also to non profit earning instutuions like NGOs because, whether or not an establishment seeks finacial profit, it always has to make payments to its employees and the others who render any kind of service to its cause.Payroll accounting software assists in calculating employee wages, salaries, withholdings, taxes, tax deductions and bonuses, timely and accurately.The features on the software allow one to keep the manual labor and paper work minimal. It also makes it easy to track annual, monthly, quarterly and weekly pay checks issued. Besides, it is easy to manage tax forms related to payroll.Preparing MIS reports, transaction entries, return forms, master entries and utilities becomes real easy. Graphical representation i
    Experts say that there are societal trends in play that are precipitating a return to pre-industrial era ways of survival. In the face of changing economic realities and disillusionment, many people are questioning the ways they currently make money and are seeking alternate means of income. But, instead of simply getting another job, or opening a fast-food franchise, many are instead asking, "What am I good at?" "What's my passion?"

    Today's trends are all pointing to a move back to the way things were. At the very least, as the economic landscape becomes more uncertain, people need to look at options for increasing their streams of income. It may be only way to survive.

    However, there is also a new awareness developing among those who are seeking to flex their entrepreneurial muscles. The question this time is: What sort of business does it make sense to start in these times of global change?

    To lay the foundation for my response, I'd like to introduce you to a term with which you're probably already familiar. The term is "catalyst." As you may remember from high school chemistry class, a catalyst is a substance that ignites, sets in motion, or speeds up a reaction without itself being affected. In life as well, every experience is a potential catalyst. Your flat tire, the argument with your spouse, your unhappiness at your job--all are potential catalysts. Because of the free will inherent in our experience here on the planet (we have the freedom to choose our responses), the reaction that a catalyst can spark is entirely under your control.

    THE PURPOSE OF CATALYSTS All catalysts are designed to offer a challenge or lesson.

    There are only two possible paths one can choose from in response to a catalyst: It can be accepted or it can be controlled. The path you choose will be determined by your orientation. If you are oriented towards service to self (your own comfort), you will make one set of choices. If you are oriented towards service to others, you will see and choose from a different set of choices.

    When faced with a catalyst it is important to understand that we are here to evolve in the direction of our orientation, and without life's catalysts, the desire to evolve and the faith in the process do not normally manifest and thus evolution does not occur. So don't rail against the changes and situations. Accept them as a natural part of the experience designed to help you grow.

    Life is really that simple. Things happen. You choose your response based on your orientation. You evolve in the direction of your choice.

    When neither path is chosen, the catalyst fails in its design and you proceed through life until some other catalyst appears which causes you to choose again towards acceptance and love or toward separation and control.

    HOW TO PREDICT THE FUTURE It's a basic law of this dynamic, ever-changing universe that there's no such thing as something "staying the same." Things are either expanding or contracting, increasing or decreasing, getting better or getting worse. Even the metal or hard plastic computer or sheet of paper on which you are reading these words, as solid and as stable as they seem are all slowly decaying and deteriorating. Come back in a few dozen years, and you'll see the effects of decay over time. If you know this, then you can look at everything from business phenomena to romantic relationships a little bit differently, and can perform what some might consider fortune-telling simply by asking, "where is this heading?"

    Every business, every situation, every relationship is either getting better or getting worse, growing or shrinking, going up or heading downhill. Therefore, as long as you can honestly assess what you observe or experience over a given time frame, you can "predict" where something is heading and take any evasive or remedial actions as necessary.

    Now having said that, let's examine some observable facts and trends that are catalysts occurring right now and that will affect the future, and to which we have a choice of response. 1. The earth is going through changes. Global warming is a reality. Temperature fluctuations are affecting access to water, arable land and other resources for a growing segment of the world's population. These and other physical, climatic, and cataclysmic changes are observable.

    2. "Peak Oil" is a reality. The term "peak oil" refers to the peak in the world's oil production. The amount of oil available on the planet is finite. There is a point in oil production whether within a single oil field or the entire planet, when a maximum is reached. Once that maximum rate of production is reached, the rate of oil production (as well as the profitability of extracting it) on Earth will enter a terminal decline. The challenge this presents is that while the SUPPLY is declining, the DEMAND for oil (and the plastics, electricity, etc, which are oil-dependent) continue to increase as population and industrialization continue to grow. It' said that US oil production peaked in 1970. World oil production, it is said by some, peaked in 2005. After a peak, production slows, profits decrease, and prices rise. You can already see the effects of this as gas prices start creeping upwards.

    3. Corporate downsizing persists More and more companies are outsourcing, downsizing and offshoring in an effort to cut costs. Companies, particularly public corporations, are bound by their charters and by law to seek first the profitability of their shareholders. That's why the decisions these companies make often seem less humanitarian and more profit-inspired. That's because they have to be.

    4. Global power and focus is shifting China and India are growing economic forces. They represent sources of labor, consumers, as well as increased oil and energy demand. Companies the world over in Europe, (Romania and Poland most recently made news

    Spelling Counts
    I have dealt with many companies, read many books, and looked at images. Many times there are spelling or grammatical errors. I realize that it is very difficult to catch every error and my materials are no exception. No matter how many times you pass the words by a team, something will always be overlooked. If you take time to look at your materials with a fine tooth comb, you may still miss a small error. What you should be doing is proof reading absolutely everything that you send out. One spelling or grammatical error stands out like a sore thumb; it is always noticed by someone outside your company. You should make every effort to make sure that your documents are perfect, although this is very difficult to achieve.Documents that have not been proof-read and are full of errors look like a hand painted sign for a lemonade stand. They scream out as homemade, unprofessional and sloppy. Use the spell and grammar checker on your computer but do not rely on it one hundred percent. Even a computer does not catch everything, especially when a word is spelled correctly but has the wrong meaning.Your image is important, put in the time and effort to eliminate as many spelling and grammar errors as possible. If someone finds an error after you have printed the materials, thank them and make the correction immediately. If you are on top of making the changes and getting some good marketing exposure, you can also offer a gift. You can bet that others will
    reaction without itself being affected. In life as well, every experience is a potential catalyst. Your flat tire, the argument with your spouse, your unhappiness at your job--all are potential catalysts. Because of the free will inherent in our experience here on the planet (we have the freedom to choose our responses), the reaction that a catalyst can spark is entirely under your control.

    THE PURPOSE OF CATALYSTS All catalysts are designed to offer a challenge or lesson.

    There are only two possible paths one can choose from in response to a catalyst: It can be accepted or it can be controlled. The path you choose will be determined by your orientation. If you are oriented towards service to self (your own comfort), you will make one set of choices. If you are oriented towards service to others, you will see and choose from a different set of choices.

    When faced with a catalyst it is important to understand that we are here to evolve in the direction of our orientation, and without life's catalysts, the desire to evolve and the faith in the process do not normally manifest and thus evolution does not occur. So don't rail against the changes and situations. Accept them as a natural part of the experience designed to help you grow.

    Life is really that simple. Things happen. You choose your response based on your orientation. You evolve in the direction of your choice.

    When neither path is chosen, the catalyst fails in its design and you proceed through life until some other catalyst appears which causes you to choose again towards acceptance and love or toward separation and control.

    HOW TO PREDICT THE FUTURE It's a basic law of this dynamic, ever-changing universe that there's no such thing as something "staying the same." Things are either expanding or contracting, increasing or decreasing, getting better or getting worse. Even the metal or hard plastic computer or sheet of paper on which you are reading these words, as solid and as stable as they seem are all slowly decaying and deteriorating. Come back in a few dozen years, and you'll see the effects of decay over time. If you know this, then you can look at everything from business phenomena to romantic relationships a little bit differently, and can perform what some might consider fortune-telling simply by asking, "where is this heading?"

    Every business, every situation, every relationship is either getting better or getting worse, growing or shrinking, going up or heading downhill. Therefore, as long as you can honestly assess what you observe or experience over a given time frame, you can "predict" where something is heading and take any evasive or remedial actions as necessary.

    Now having said that, let's examine some observable facts and trends that are catalysts occurring right now and that will affect the future, and to which we have a choice of response. 1. The earth is going through changes. Global warming is a reality. Temperature fluctuations are affecting access to water, arable land and other resources for a growing segment of the world's population. These and other physical, climatic, and cataclysmic changes are observable.

    2. "Peak Oil" is a reality. The term "peak oil" refers to the peak in the world's oil production. The amount of oil available on the planet is finite. There is a point in oil production whether within a single oil field or the entire planet, when a maximum is reached. Once that maximum rate of production is reached, the rate of oil production (as well as the profitability of extracting it) on Earth will enter a terminal decline. The challenge this presents is that while the SUPPLY is declining, the DEMAND for oil (and the plastics, electricity, etc, which are oil-dependent) continue to increase as population and industrialization continue to grow. It' said that US oil production peaked in 1970. World oil production, it is said by some, peaked in 2005. After a peak, production slows, profits decrease, and prices rise. You can already see the effects of this as gas prices start creeping upwards.

    3. Corporate downsizing persists More and more companies are outsourcing, downsizing and offshoring in an effort to cut costs. Companies, particularly public corporations, are bound by their charters and by law to seek first the profitability of their shareholders. That's why the decisions these companies make often seem less humanitarian and more profit-inspired. That's because they have to be.

    4. Global power and focus is shifting China and India are growing economic forces. They represent sources of labor, consumers, as well as increased oil and energy demand. Companies the world over in Europe, (Romania and Poland most recently made new

    Let Your Life Passions Fuel Your Business Purpose
    If you have a tremendous fondness, desire, or enthusiasm for what you do for a living, be thankful! You're most likely pursuing your passions in life.On the other hand, do you know what happens when you choose a business direction that's not aligned with your life passions? You end up settling for an opportunistic approach toward your livelihood instead of selecting an endeavor that fuels you and helps you make a special contribution to the world.You may have found yourself hopping from idea to idea, from career to career, or from business venture to business venture, accomplishing less than you're capable of achieving. If this seems familiar, it may mean that you're selecting opportunities that appear convenient, but that aren't closely related to your mission in life.Below are three reasons why using a strategic alignment approach is crucial in helping us to develop and pursue goals that are worthy of our time and energy.Alignment Reason #1 – Marketing Message:Developing branding and marketing materials that communicate with laser-like precision what we represent depends on a deep awareness of how our life passions align with our business purpose. And even if we are clear about our passions but haven't fully integrated them with other predominant themes in our lives, we can still send confusing messages to prospective customers, clients, partners, and employees.Alignment Reason #2 – Generating Momentum:When we
    Accept them as a natural part of the experience designed to help you grow.

    Life is really that simple. Things happen. You choose your response based on your orientation. You evolve in the direction of your choice.

    When neither path is chosen, the catalyst fails in its design and you proceed through life until some other catalyst appears which causes you to choose again towards acceptance and love or toward separation and control.

    HOW TO PREDICT THE FUTURE It's a basic law of this dynamic, ever-changing universe that there's no such thing as something "staying the same." Things are either expanding or contracting, increasing or decreasing, getting better or getting worse. Even the metal or hard plastic computer or sheet of paper on which you are reading these words, as solid and as stable as they seem are all slowly decaying and deteriorating. Come back in a few dozen years, and you'll see the effects of decay over time. If you know this, then you can look at everything from business phenomena to romantic relationships a little bit differently, and can perform what some might consider fortune-telling simply by asking, "where is this heading?"

    Every business, every situation, every relationship is either getting better or getting worse, growing or shrinking, going up or heading downhill. Therefore, as long as you can honestly assess what you observe or experience over a given time frame, you can "predict" where something is heading and take any evasive or remedial actions as necessary.

    Now having said that, let's examine some observable facts and trends that are catalysts occurring right now and that will affect the future, and to which we have a choice of response. 1. The earth is going through changes. Global warming is a reality. Temperature fluctuations are affecting access to water, arable land and other resources for a growing segment of the world's population. These and other physical, climatic, and cataclysmic changes are observable.

    2. "Peak Oil" is a reality. The term "peak oil" refers to the peak in the world's oil production. The amount of oil available on the planet is finite. There is a point in oil production whether within a single oil field or the entire planet, when a maximum is reached. Once that maximum rate of production is reached, the rate of oil production (as well as the profitability of extracting it) on Earth will enter a terminal decline. The challenge this presents is that while the SUPPLY is declining, the DEMAND for oil (and the plastics, electricity, etc, which are oil-dependent) continue to increase as population and industrialization continue to grow. It' said that US oil production peaked in 1970. World oil production, it is said by some, peaked in 2005. After a peak, production slows, profits decrease, and prices rise. You can already see the effects of this as gas prices start creeping upwards.

    3. Corporate downsizing persists More and more companies are outsourcing, downsizing and offshoring in an effort to cut costs. Companies, particularly public corporations, are bound by their charters and by law to seek first the profitability of their shareholders. That's why the decisions these companies make often seem less humanitarian and more profit-inspired. That's because they have to be.

    4. Global power and focus is shifting China and India are growing economic forces. They represent sources of labor, consumers, as well as increased oil and energy demand. Companies the world over in Europe, (Romania and Poland most recently made new

    Creating Brand Loyalty
    Every business has a Brand whether they realize it or not. Having a brand is an unavoidable consequence of being in business. A positive Brand creates Brand Loyalty. If properly managed, Brand Loyalty is a powerful source of sustained profitability. However, very few business leaders understand how to sustain Brand Loyalty in their customers. They direct their attention to the "appearance" of the brand- the marketing and advertising aspects of brand identification. They strive for a unique, recognizable "look" such as McDonald's arches or Nike's swoosh. The emphasis is on appearance of the Brand, not what the brand looks like in action.However, neither advertising, nor appearance, ever created one moment of Brand Loyalty. The primary factor that influences Brand Loyalty is how employees respond to customer expectations. Regardless of the business, every customer is purchasing the same thing: "A Satisfying Emotional Experience." Whether the business delivers a cake or a car, a house or a horse, it must deliver a Satisfying Emotional Experience if it is to create Brand Loyalty among customers!It is the fully engaged employee's enthusiastic effort to understand and exceed the customer's expectations that creates the customer's Satisfying Emotional Experience. Such experiences are habit forming; they build feelings of reliability and trust in the integrity of the Brand. A satisfying emotional experience builds a positive relationship with your custome
    usiness, every situation, every relationship is either getting better or getting worse, growing or shrinking, going up or heading downhill. Therefore, as long as you can honestly assess what you observe or experience over a given time frame, you can "predict" where something is heading and take any evasive or remedial actions as necessary.

    Now having said that, let's examine some observable facts and trends that are catalysts occurring right now and that will affect the future, and to which we have a choice of response. 1. The earth is going through changes. Global warming is a reality. Temperature fluctuations are affecting access to water, arable land and other resources for a growing segment of the world's population. These and other physical, climatic, and cataclysmic changes are observable.

    2. "Peak Oil" is a reality. The term "peak oil" refers to the peak in the world's oil production. The amount of oil available on the planet is finite. There is a point in oil production whether within a single oil field or the entire planet, when a maximum is reached. Once that maximum rate of production is reached, the rate of oil production (as well as the profitability of extracting it) on Earth will enter a terminal decline. The challenge this presents is that while the SUPPLY is declining, the DEMAND for oil (and the plastics, electricity, etc, which are oil-dependent) continue to increase as population and industrialization continue to grow. It' said that US oil production peaked in 1970. World oil production, it is said by some, peaked in 2005. After a peak, production slows, profits decrease, and prices rise. You can already see the effects of this as gas prices start creeping upwards.

    3. Corporate downsizing persists More and more companies are outsourcing, downsizing and offshoring in an effort to cut costs. Companies, particularly public corporations, are bound by their charters and by law to seek first the profitability of their shareholders. That's why the decisions these companies make often seem less humanitarian and more profit-inspired. That's because they have to be.

    4. Global power and focus is shifting China and India are growing economic forces. They represent sources of labor, consumers, as well as increased oil and energy demand. Companies the world over in Europe, (Romania and Poland most recently made new

    A Career in Image Consulting
    You might have seen them while watching TV shows such as Extreme Makeover, Queer Eye for the Straight Guy, or What Not to Wear. Or you might have heard that Martha Stewart needed them to give her advice on how to look sympathetic to a jury.We're talking about Image Consultants, and they have one of the hottest new businesses today.Also known by such titles as wardrobe consultant, fashion stylist, or makeover consultant, image consultants are paid to show people how to create a fabulous impression. They might recommend wearing different colors or new styles, go through closets to toss out clothing that isn’t working, shop for a new wardrobe, and put together incredible outfits. They might advise a change of hairstyle, makeup, or grooming.However, image is more than physical appearance. In addition to how someone looks, we also form impressions based on how someone talks and behaves. So image consultants may also advise people on their vocal communication (voice, grammar, vocabulary, etc.), non-verbal communication (handshakes, posture, eye contact, etc.) and etiquette – from dining to cell phones.Most image consultants also develop a network of strategic partners they can refer clients to, such as hair stylists, makeup artists, nutritionists, dentists, personal trainers, plastic surgeons, and voice coaches.Image consultants offer the kind of advice that can help people land a job, get a promotion, find someone to love, or just
    y of extracting it) on Earth will enter a terminal decline. The challenge this presents is that while the SUPPLY is declining, the DEMAND for oil (and the plastics, electricity, etc, which are oil-dependent) continue to increase as population and industrialization continue to grow. It' said that US oil production peaked in 1970. World oil production, it is said by some, peaked in 2005. After a peak, production slows, profits decrease, and prices rise. You can already see the effects of this as gas prices start creeping upwards.

    3. Corporate downsizing persists More and more companies are outsourcing, downsizing and offshoring in an effort to cut costs. Companies, particularly public corporations, are bound by their charters and by law to seek first the profitability of their shareholders. That's why the decisions these companies make often seem less humanitarian and more profit-inspired. That's because they have to be.

    4. Global power and focus is shifting China and India are growing economic forces. They represent sources of labor, consumers, as well as increased oil and energy demand. Companies the world over in Europe, (Romania and Poland most recently made news) and the US, are importing laborers from China, or outsourcing skilled jobs to India.

    DON'T SLEEP As a potential entrepreneur, indeed as a nation, the opportunity exists to predict, anticipate, prepare for and position oneself for the effects of these trends. Don't wait for mainstream news broadcasts to confirm this. Don't expect politicians to make it part of their agendas in time. They are operating from a different agenda. Those who seek to rule the world are by nature unlike those of the world they seek to rule.

    THE CHALLENGE As I said, there is always either a lesson or a challenge.

    Within the context of these trends, the economic condition, and by extension, your unique situation is a catalyst that provides an opportunity for you to respond in search of a lesson or a challenge.

    As potential entrepreneurs, if we choose to rise to the challenge, using what we know about predicting the future, the question becomes first: What's going to happen as these trends and catalysts continue? And then more importantly, what shall I do in response to these happenings? Where should I look for the opportunity? What sort of business would I start? And finally which business path offers the most opportunity for service to others?

    Now there are those who would ask, 'which path offers the most profit?', but that's a service-to-self orientation. We need a new paradigm. I suggest, as motivational speaker Zig Ziglar is credited with saying: that if you help enough people get what they want, you automatically get what you want.

    MY THOUGHTS ON A COMING SHIFT There's another important trend that I believe is important to factor into this equation, and it is this: The continued growth upon which the current economic model is based cannot be sustained indefinitely. Infinite growth based on finite resources is unsustainable. Growth based on the exploitation of others is unethical and untenable.

    Yes, China and India are both ideal sources of labor as well as the next great frontier for consumerism. The rest of the world's industrialized, market-driven, capitalist, consumer-oriented companies and entrepreneurs know this as well, and are rushing to position themselves.

    However, the gold watch-sporting, cola-drinking, junk food-eating, luxury car-driving, soap opera-watching, video game-playing lifestyle upon which these companies rely to support their spiritually vapid, environmentally-depleting and mindless products, while exploiting the poor as the labor source, is on an inevitable decline. Global consciousness of a more serious nature is actually on the rise (it's just not being reported). So if as a result, you see, as I do, the potential crash of the entire economic system upon which this model hinges, then you might agree that basing a new industry or business idea on such shifting sand, while perpetuating a soon-to-be outdated business model that separates and destroys the family structure, enslaves communities, while perpetuating indentured servitude is not a desirable course. So, here is the challenge in a nutshell. The current model is unsustainable. We need to survive. However, our survival is based on buying into a definition of success which perpetuates the very model which is threatening our survival. What then, should be our best course of action?

    THE ETHICAL PARADOX OF SELLING SURVIVAL How do you survive in an economic system that is threatening your and its own survival. Answer: You sell survival. That's right, the game is changing to one of selling survival.

    Right now others in the know are mobilizing to prepare to offer you their solutions. But what they offer won't be real solutions. They will offer products, services and a paradigm which perpetuates their control and their individual survival. In some parts of the world, companies are already charging the population for access to clean water, and some are selling seeds which have been genetically altered to produce single-generation crops forcing farmers into a cycle of having to purchase new seeds every season just to survive.

    But how do you survive in good conscience by profiting from what others need to survive. Therein lies the paradox of selling survival.

    But that sort of response is not the best option. Selling altered seeds or clean water is not the survival I wish to sell. If I were starting a business, I would follow the experts who predict that the stated trends will favor business models that:
    1. anticipate coming global shifts in social interaction and lifestyles (i.e. tribal living in larger social families that are self-supporting; ones that engage in more efficient means of creating energy, obtaining food, and supporting the common w

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