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Investing in the Markets With Options?

Investing in the Markets With Options?

Options are a great way to protect profits and safeguard against losses for people trading in the markets. They are perhaps the only true form of hedging, when people properly understand how to use them.

Although, the problem is that options are still widely misunderstood in the marketplace, and that is why many people do not get the results that they should with them.

One of the reasons for this is the Options education industry. Education is the most valuable thing a trader can do to progress their knowledge and experience of the markets, and it can ultimately be a big factor in either succeeding, or failing when trading.

However, when it comes to options training many of the companies in the industry actually approach it back to front. Often they will teach people all the different options trading systems that they can, even to a very advanced level and then let them live in the markets on their own.

The problem is that while students know theoretically how to use an option, they don’t know how to identify the opportunities where options can best be utilized.

If people are serious about making the profits that are possible with options trading, then they need to find companies that teach things the right way round.

These are companies that first coach their students in how to understand and identify good opportunities in the marketplace, and then after students feel comfortable being able to do this they then go on on to teach them what strategies are best suited for each different situation that they find.

Also, good companies will be able to offer traders the chance to trade in live markets alongside successful professional traders. It is one thing to understand something theoretically, but being able to progress and develop skills and experience alongside people who are already successful in the markets is extremely valuable indeed.

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General Article

Accounting, Audit and Reporting In Thailand

Accounting, Audit and Reporting In Thailand

Accounting Period

A newly established business entity may choose any date for its initial accounting period. Thereafter, the accounts should be closed every twelve months.

If an entity wishes to change its accounting period, it must obtain written approval from the Commercial Registration Department and the Revenue Department.

Books of Accounts

The Accounts Act of 2000 prescribes the regulations regarding the keeping of books of accounts and supporting documents.

The Act also stipulates the qualifications of the bookkeeper, who must be a Thai resident, proficient in the Thai language, and a graduate from high-vocational school or university with the minimum of a Bachelor Degree in Accounting.

The Civil and Commercial Code also provides general rules on the accounts that must be maintained.

Recording of accounting entries may be done in the English language, but there should be appended a Thai language translation. All accounting entries must be written in ink, typewritten or printed. Computerised accounting systems are supposed to be registered with the Ministry of Commerce and the Revenue Department.

Accounting Principles

Generally, the accounting principles promulgated in the International Financial Reporting Standards are followed in Thailand. In addition, accounting methods and conventions sanctioned by law are considered as generally accepted accounting practices. The Federation of Accounting Professions is the authoritative body promoting the application of generally accepted accounting principles.

Certain accounting principles, which are adopted by a business entity, must be followed consistently and may be changed only with the approval of the Revenue Department. Such accounting principles include depreciation, statutory reserves, stock, dividends, consolidation, expenses paid out of net profits and accounting for pension plans.

Audit Requirements

All business entities including companies, partnerships, branch offices, representative offices and joint ventures are required to prepare profit and loss accounts and balance sheets on an annual basis, and have them audited. The auditor’s report must state whether the accounts have been properly prepared in accordance with the Accounting Regulations and whether these give a true and fair view.

Appointment of Auditors

Each business enterprise is required to appoint independent auditors who are registered Certified Public Accountants in Thailand. Certified Public Accountants are registered and issued with licences by the Ministry of Commerce.

The Auditors are appointed at the Annual General Meeting of Shareholders (AGM) to serve until the next AGM. The AGM is also required to set the Auditor’s remuneration. Although the auditor must be independent, the Civil and Commercial Code allows a company to appoint a shareholder as an Auditor if he possesses the requisite qualifications.

Reporting Requirements

All business entities are required to file one set of their audited financial statements, together with an annual corporate income tax return and statement of director/manager with the Revenue Department within 150 days of their financial year end.

Companies, partnerships and branches of foreign corporations are required to file two sets of their audited financial statements and a statutory annual return with the Companies’ Registration Department within five months of their financial year-end. Companies are also required to include reference to the AGM that approved the financial statements and a copy of the list of shareholders of the company as at the date of the AGM. Failure to fulfil these requirements may result in a fine of up to 70,000 Baht.…

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General Article

The Basics of Cash Flow Management

The Basics of Cash Flow Management

The Basics of Cash Flow Management is important as it helps to ensure that you have enough or even excess money to save up for other usage every single month. Here are a few simple steps that you need to take to manage your cash flow:

Track your current monthly expenses on a daily basis for at least 3 – 6 months.

Analyze your monthly expenses to find out where does your money goes to.

Make a list on the expense items that you can cut down on.

Start setting aside 20-30% of your income to pay yourself first. Put this money into a separate savings account which you will not spend other than for investment purpose.

Plan your expenses budget every month after you have completed the above steps. Make a list on all your expenses and set a budget to it. Make sure that you stick to your budget and not give in to temptations. Make sure that your total expenses budget and planned savings does not exceed your total income per month.

For all major or big spending of about more than USD$1000, you need to plan for it, and ensure that your purchase is genuine and not due to impulse. Hence you need to take note of the cost involved and set aside a sum of money every month towards a fund and only purchase the item after your fund has collected enough to pay for it entirely.

With the above, you should be able to have more savings which you can use for investment purpose to contribute towards your financial freedom or retirement.

Take note that Good Investments are assets that are able to put more money into your pockets, not take money out of your pocket, in both short term and long term. Items that you purchases that takes money out of your pocket every month (creates expenses) are liabilities, not assets!

As long as you do not spend more than your income minus the amount that you need to set aside to pay yourself first, your cash flow will be fine! Take action to do that today! Do not procrastinate.…