Meanings of Entrepreneur Part I

Meanings of Entrepreneur Part I

The term “entrepreneur” is being used more and more frequently. The name comes from French and means – freely translated – something like “company” or “entrepreneur”. Strictly speaking, however, there are also differences between a classic entrepreneur and an entrepreneur. In addition, in contrast to the typical manager, the entrepreneur is not employed, but the …

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Meanings of Claims

Meanings of Claims

When a claim is spoken of, then what is meant is a creditor’s claim to a performance by the debtor. This can be a cash benefit or another benefit. A claim by an entrepreneur (creditor) is a claim against his supplier or customer (debtor) in the form of money, services or goods. The opposite of …

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Meanings of Right Price Part III

Meanings of Right Price Part III

4. Which pricing strategy for the price calculation? Different pricing strategies can be used for price calculation for different products. The price is classified in a lower, middle or upper price range. There are the following strategies: High price strategy The high price strategy will be used for products that have particular performance and / …

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Meanings of Right Price Part II

Meanings of Right Price Part II

For Karl’s target group, this means: Assuming 20 percent of male Germans buy a new shelf once a year, of which only 15 percent are willing to spend more on a new shelf. Another 22 percent of them order their furniture online. That is the equivalent of 1,230,000 inhabitants. One percent of them would be …

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Meanings of Right Price Part I

Meanings of Right Price Part I

What is the right price to ask for my products? How do I find the right price and what costs do I have to take into account? According to GRADINMATH.COM, price calculation can be a challenge for founders and self-employed people. Much has to be considered and included in the calculation. Because the price should …

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Meaning of Racial Prejudice

Meaning of Racial Prejudice

The racial prejudice is based on the existence of physical and socio-cultural differences, supposedly, make some better than others. People judge others because of their color, or rather, race . Causes This alleged superiority is sustained in the perpetuation of racial myths and false truths that are hidden in the form of stereotype , a …

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Meanings of Inventory

Meanings of Inventory

The result of an inventory is the inventory and this is divided into the following items, for example: Assets Net worth Debt In the inventory, the assets are divided into fixed assets and current assets according to their liquidity . The term liquidity is understood as how quickly the asset can be converted back into …

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Meanings of Assets and Liabilities

Meanings of Assets and Liabilities

Fixed assets, which also include current assets and prepaid expenses, are the most important assets. In the case of a balance sheet , the assets are the page on which the use of funds is shown. Note: The value of all assets must always correspond to the value of all liabilities. This sum is called …

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Meanings of Accounts Receivable

Meanings of Accounts Receivable

Accounts receivable is the management of accounts receivable from customers. A debtor is nothing more than a debtor. Accounts receivable in a company is a part of the bookkeeping that deals with managing accounts receivable from customers. This means that accounts receivable is the opposite of accounts payable. This processes all processes related to the …

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Meanings of Own Receipt

Meanings of Own Receipt

What is a self-receipt? In the bookkeeping, the iron principle “No posting without receipt” applies. No commercial booking without an invoice. In order to ensure that the bookkeeping and the tax office run smoothly, receipts and invoices should always be kept carefully. Invoice documents are generally divided into internal documents and external documents. Internal documents …

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Meanings of Secondary Business

Meanings of Secondary Business

When registering a business, a general distinction is made between main business and secondary business. The only ones excluded from this distinction are freelancers. These are not subject to the business regulations and therefore do not have to register with the business office . The line between main and secondary business is drawn by the law and the social insurance …

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Meanings of Account Assignment

Meanings of Account Assignment

What is account assignment? In the bookkeeping, you post each business transaction on the basis of receipts on G / L accounts. So that you can submit the accounting for expenses and income to the tax office on a monthly or quarterly basis. In order to document the correctness of postings, all documents of a …

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Meanings of Professional Liability Insurance 2

Meanings of Professional Liability Insurance 2

Benefits and scope of professional liability insurance Professional liability protects the insured by providing support in examining and defending against unlawfully raised claims for damages by third parties and handles the processing and payment of justified claims. This only concerns the damage that the insured unintentionally inflicted on a third party. The exact services that …

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Meaning of Earth Layers

Meaning of Earth Layers

If we could cut planet Earth in half like a peach, we would see certain similarities between the layers of both: the core would correspond to the core of the planet; the edible part would be equivalent to the mantle ; and the shell would be the crust . Core The core is the central …

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Meanings of Professional Liability Insurance

Meanings of Professional Liability Insurance

“Wherever there is planing, there are shavings,” the saying goes. But anyone who hurts their customers or causes them financial damage has to pay for it. Unless he has professional indemnity insurance to take care of that . What is professional liability insurance? According to ACRONYMMONSTER.COM, professional liability insurance is the counterpart to personal liability …

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Meanings of Small Business Invoice Part II

Meanings of Small Business Invoice Part II

Sales tax on the small business invoice VAT shown? This could get expensive! Under no circumstances should a small business invoice result in a sales tax amount. Because as a small business owner within the meaning of Section 19 (1) UStG, he is not entitled to claim sales tax from a business customer. But what …

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Meanings of Small Business Invoice

Meanings of Small Business Invoice

In general, small business owners have fewer accounting obligations than a company that is subject to VAT. The bookkeeping should not only be simplified for small business owners, but also connected with less tax, since they are mostly below a certain turnover limit. Although a small business owner does not have to levy sales tax, …

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Meanings of Retention Periods Part V

Meanings of Retention Periods Part V

Where do you have to keep your documents? In the tax code (§ 146 AO) it is regulated that the books and the otherwise necessary records “are to be kept and kept within the scope of this law”. This means that you are legally obliged to keep your documents in Germany. Beyond that, however, there …

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Meanings of Retention Periods Part IV

Meanings of Retention Periods Part IV

Handling of data carriers Often the documents are no longer kept in paper form, but can be archived on data carriers. However, electronic invoices are subject to strict retention requirements. Many companies do not know that electronic invoices must also be saved electronically. In addition to invoices, books and other records can also be stored …

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Meanings of Retention Periods Part III

Meanings of Retention Periods Part III

Commercial and business letters A retention period of six years applies to commercial and business letters. An exception are documents that are kept in an open item accounting, because they have to be kept for ten years. Invoices and duplicates of invoices are also considered commercial letters, for it holds a ten-year retention period. Tax …

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Meanings of Retention Periods Part II

Meanings of Retention Periods Part II

In the following we have put together some examples for the retention requirements of various documents. Including only those that occur most frequently. But the list is not exhaustive: document Years Accounting documents 10 Letters of credit 6 Offers that led to the order 6 Appendix to the annual financial statements (according to Section 264 …

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Meaning of CFD

Meaning of CFD

According to abbreviationfinder, CFD stands for “Contract for Difference”. With a CFD, investors can make profits by speculating on price changes. Contracts for difference are particularly attractive because they are characterized by a high level of leverage. This means that even a low capital investment can bring high profits. However, leverage can also have a …

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Meanings of SWOT Analysis Part II

Meanings of SWOT Analysis Part II

The individual points of the SWOT analysis The usual way of creating a SWOT analysis begins with the two main parts, the company analysis as an internally-related part and the environmental analysis with external aspects. Both can be represented in a simple four-field matrix so that the individual points can be related to one another. …

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Meanings of EBIT

Meanings of EBIT

EBIT is earnings before interest and taxes . This means that the operating result is presented independently of the amount of taxes and the forms of financing used, so that a company can evaluate itself in an international comparison. Definition “Earnings before interest and taxes” , or EBIT for short via abbreviationfinder, is also referred to as the operating result of a company. This is a key …

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Meanings of ROI

Meanings of ROI

The ROI is a business key figure for the return of a company. It is measured by the percentage ratio of capital employed and profit achieved and can be used to assess an investment, the performance of a branch of business or the entire company. Short for ROI by abbreviationfinder, return on investment is a …

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Meanings of SME

Meanings of SME

Over the years, after the Second World War, Germany has become the world export champion . Today the country is one of the undisputed industrial nations. Our country also owes this to its SMEs , because they represent the strong backbone of the German economy. You can find out what you need to know about …

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Meanings of Retention Periods Part I

Meanings of Retention Periods Part I

In business life, important documents such as accounting receipts and invoices must be archived. They have to be kept for certain periods of time as they serve as evidence. The retention periods vary depending on the type of documents. They are regulated by law. If they are not adhered to, a company can be punished …

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Meaning of Federal Bonds

Meaning of Federal Bonds

Bonds are very popular with many investors. For conservative investors, they represent the optimal investment option. After all, Germany enjoys an excellent reputation with rating agencies. The reputation of the state issuing a bond plays a decisive role in the valuation of the paper. Federal bonds are used by the federal government to finance the …

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Meaning of Bonds

Meaning of Bonds

Bonds is the English name for fixed-income securities, or bonds for short. This type of security certifies the right to a recurring interest payment within a predetermined period of time. At the end of this period, the investor will be repaid the nominal value stated in the certificate. Bonds are used to borrow funds on …

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Meaning of Stock Exchange

Meaning of Stock Exchange

Stock exchanges look back on a long tradition. The oldest stock exchange was founded in 1409 in Bruges, Belgium. The first German stock exchanges are the Augsburg Stock Exchange and the Nuremberg Stock Exchange, founded in 1540. The Frankfurt Stock Exchange, today the most important stock exchange in Germany and also one of the most …

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