Showing posts with label Accounting. Show all posts
Showing posts with label Accounting. Show all posts

September 28, 2020

The Yom Kippur Bank Account

Please see my new article in The Time of Israel called, "The Yom Kippur Bank Account."
Instead of worrying about accumulating earthly and material treasures: money, houses, cars, exotic travel, and more, we would be well advised to pay attention to our Heavenly treasure that we should be accumulating. Whether tomorrow, when our judgement will be sealed on Yom Kippur or when we, G-d forbid, die and are called for an accounting before our Maker, we should have plenty in the spiritual bank to speak well for us.

However, even if we are a little blind to our own accounting, certainly, just like we don’t want to be physically poor or bankrupt in this world, we definitely don’t want to be coming spiritually empty at Yom Kippur or when we arrive in the world to come. Put in more than you take out! Much more if you can! That’s what every parent should teach their child about their bank or brokerage savings account, building healthy relationships with others, and most importantly, how to live our lives towards our Father in Heaven and the King of the Universe.

(Credit Photo: Andy Blumenthal)


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November 3, 2019

Key Federal Financial Management Terms

Below are some key Federal Financial Management Terms:
  • Authorization: Act of Congress that permits Federal programs or activities to exist and recommends funding levels.
  • Appropriation: Act of Congress to provide Federal agencies with budget authority to obligate government to future outlay of cash for a specific purposes and period of time. 
  • Commitment: An administrative reservation of funds by the financial controller or resource manager triggered by a procurement or purchase request.
  • Obligation: A legal reservation of funds that binds government to future expenditure and outlay of cash from the Treasury triggered by the signing of a contract, travel order, credit card transaction, etc. 
  • Expenditure: Issuance of a payment disbursement by electronic funds transfer, check, etc. 
  • Outlay: Payment of cash from Treasury to vendor to liquidate a financial obligation.
These should be helpful in understanding the Federal financial management processes. 

(Credit Photo: Andy Blumenthal)

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September 6, 2017

Learning To Save For A Rainy Day

This was so funny coming across this big bright red piggy bank in a thrift store. 

What a blast from the past!

I remember having one of these as a child. 

My parents taught me to put my allowance in to save for the future. 

When it accumulated $10, the metal door on the bottom would open and we could put the money in the bank.

It was like a game to try to get to the magic amount and get the register to pop open.

In those days, the bank had little books for your checking and savings accounts, and when you deposited the money, you'd get a line printed with the deposit and new balance printed in the dot matrix print of yesteryear. 

Again, these were all good lessons about savings and seeing the benefits in the toy register or in your bank book.

Maybe these were things that initially inspired me to get my bachelors degree in accounting.  

The discipline of numbers was great, but it was never as exciting as the promise and hope of ever new technology, but that's what added up at the time to me. ;-)

(Source Photo: Andy Blumenthal)
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