Will Apple Ever Make It to the Finance Industry?

PayPal on Apple iCloud Issues

Will Apple ever make it to the Finance Industry after PayPal showed negative reactions to Apple launching their Mobile Payment Service Apple Pay?

PayPal publicly questioned Apple’s credibility in getting into the Financial Industry when it announced recently in the New York Times its open contempt on Apple’s new technology. Putting much emphasis on Apple’s recent issue over iCloud, PayPal reminded the public when celebrities’ intimate photos suddenly went into circulation, throwing doubts on Apple’s credibility to secure financial accounts. The Ad accompanying such remark even stated, “We want our money, more than our selfies!”

The Technology to Replace Apple Pay Wallet

After the success of the Apple Pay, Apple is now launching another technology to upgrade Wallet features. This time, cash transactions are quick and made easy through a phone built-in NFC feature. NFC is a sensor strip built into every iPhone 6 and iPhone 6 Plus phones. This strip is found at the top of the phone and is activated once you hold your phone over a sensor. By simply touching the ID for authentication, transaction is done. With the new Apple invention, cash transactions are more quick and easy. For security of transactions, credit cards which appear on your Passbook are secured in an enclave at the phone as the credit card number is never stored. This makes your card number isolated from your transaction as a security code is sent over the wire. So if you lost your iPhone, it can easily be disabled. With the NPC sensor strip, it can turn your iPhone into debit and credit cards for you. You can use it for online transactions without filling up long forms. Just one tap is all you need. Apple Pay also works with Apple Watch but Apple Company still had to work out for more details. Some third Party Apps are also integrated in the new invention paving way for more apps developers in the future.

Apple on the iCloud Breach Issue

After hours of investigation into Apple Security System, Apple CEO, Tim Cook reaffirmed its vehement denial to the allegation that there is a breach in their iCloud Security Feature. According to the result of the conducted investigation, Apple did not find any reason to support Hollywood Celebrity, Jennifer Lawrence’s cries for breach security after nude photos went into circulation in the internet. Other celebrities involved were Selena Gomez, Mary Elizabeth Winstead, Kate Upton and Kirsten Dunst.

Apple insisted that investigation results showed compromises on user accounts, passwords and security questions. In short, they were done by hackers and not a breach issue on the part of the Company. Apple CEO further advised their patrons to use double security measures. Apple also added more security features to avoid compromises in their product and customers security by sending out alert emails every time they log in into their iCloud using web browsers. This does not exclude even those who regularly log in into their iCloud. However, this will only be temporary as Apple works to find more ways to improve their security against nude-crashes. Apple also got some plans to improve iCloud security by sending out emails and push notifications to iTunes users in cases of any attempts seen to change their passwords, restore iCloud data to another device, or log into iTunes for the first time.

PayPal Irrelevant Issue Raises Doubts on Apple Security

Now that Apple had announced the entry of the Apple Pay, with more sensible features attuned to secure data of its users while doing transaction more easier, this could provide them a portal to the Finance Industry. But after the iCloud issue, which proves to be a drawback to Apple Security Measures, will joining the Finance Industry be a good move for Apple? Will it prove to be their downfall or their breakthrough to the Finance Industry?

With these issues to raise, PayPal, the largest online banking showed reluctance if not dismayed on Apple’s decision to go into Finance Industry. What with the large portion of their market brought to them by Apple?

After celebrities nude photos goes into circulation over the web, PayPal’s negative comment on Apple iCloud Security take its drawback as people started questioning and pointing on its effects on PayPal. The allegation against Apple iCloud does not limit the people assumptions that if it happens to Apple, there is a great possibility that the same thing can happen to PayPal any time. This assumption as to PayPal’s loophole in their security was finally backed up by a blog posed by a 17-year old kid from Melbourne, Australia. This post is relevant and probably the very reason why Apple commanded much attention from PayPal and other online financial and banking institutions. If PayPal is getting restless over transactions involving iPhone, how would it react if hackers would finally treat PayPal to the same extent that they treated Apple?

Apple had indeed shown their great expertise in dealing with such crisis. Once again, they prove to their customers and competitors that they are always ready and capable to develop their products and services. They are giving much focus on the provision of full security, both to their products and customers or users. It is but natural for a corporation as big and as great as Apple, to be facing such issues. But what is important is the fact that they never stop in looking for great innovations for the improvement of every product feature.

The battle between Apple and eBay may take its final course in the long run, when people themselves will watch and measure its final outcome. However, being in the same industry where a company’s credibility is at stake over finances, it’s better to collaborate in providing solutions to any loophole in the technology. Conquering the Finance Industry is still a long run for Apple but with the introduction of the new-featured iPay Phone, will they be able to make it or break it in the Finance Industry? Apple’s entry to the finance Industry will surely bring various reactions on everyone, including existing and potential competitors.

The Issue oni Cloud Security is just a gateway for Apple to consider joining a new Industry but issues such as this one surely leaves a lot to learn and to develop. Finances and Technology always comes hand-in-hand. When you got one in your hand, it takes one great decision to hold on to the other!

It is more likely that Apple will survive the recent hit on their security issue regarding iCloud after Hollywood celebrities went gaga over ‘selfies nudies’. Know how they will be getting over it and develop the use of their technology to regain back public trust and confidence. Moreover to that, Apple is gaining entry to the Finance Industry. Will this be a breakthrough or just another high-risk move to improve current business standing?

Researching What Banks Offer and Finding the Right One For You

Banking is a safe way to store and spend your money. Whether you’re opening your first checking account or switching banks, picking a bank that works towards your specific needs is important. Some of the things you’ll want to consider during your research are convenience, location, and any fees that will be associated with your accounts or cards. It’s also important to assess how you feel about each company. Your gut feeling can be the strongest indicator of what will work for you and what won’t.

Size and Prevalence

Size and prevalence speaks to your travel needs and whether you’ll need access to your money either across the country or internationally. If you’re someone who doesn’t travel often, the prevalence of your branch may not matter. On the other hand, if you’re constantly traveling, you’ll likely want to choose one that has many locations across the states and overseas.


Banks vary greatly in their fee policies. While some advertise free checking accounts with no monthly fees, others will squeeze small fees out of you any chance they get. By doing thorough research on policies and schedules you can avoid fees that can add up to a considerable sum. Also inquire about savings account policies if you’re planning on opening one.


Choosing any of the larger branches is generally a safe bet when it comes to choosing between banks. However, if you’re interested in a small company, make sure you check their legitimacy. Use the “bank find” tool on the FDIC’s website to locate the one you’re considering, and make sure they’re a member of the FDIC. If you’re still unsure of a bank’s legitimacy, it’s highly recommended you do more research before singing up for anything or giving any information.


Does this branch have a lot of locations in your area? Or will you have to drive twenty minutes out of your way just to deposit a check or visit an ATM? Choosing a branch that’s prevalent in your city or town will make a world of difference in time and gas money, which is why convenience is so important. Do yourself a favor and pick a company that will make your life easier, not more complicated.

Gut Feeling

Which branch seems the friendliest or has the best customer service? Remember that you’ll be with this company for the foreseeable future and you’ll want to make a decision you’re comfortable with. If a branch in question is the most convenient and relatively fee-free, but you doubt the legitimacy, go with your gut feeling. Switching banks can be a pain, so think carefully before making a final decision.

Since the company you choose will be handling your personal finances, it’s best not to rush into a decision. Consider compiling a list of pros and cons for each branch and compare them side-by-side. Decide what’s most important to you in your banking and make an informed decision off those criteria.

Sales Agreement

A sales agreement is an agreement to buy and sell personal property that include but are not limited to cars, equipment or furniture. The contract confirms that sale and purchase of the asset. This form is not intended for use in the sale and/or purchase of real estate.

Knowing the pitfalls and how to avoid them can save both the seller and buyer headaches down the road. A proper form provides both legal protection and a peace of mind.

What are the main pitfalls and how to avoid them?

1. Never use a handwritten agreement as it is almost always incomplete and contains errors.

2. Never use a free form downloaded from the Internet as it is also almost always incomplete and contains errors.

3. Never agree to sign a sales agreement at time after the transfer of the asset.

4. Never accept verbal promises for payment especially from family and friend.

In all the cases above, a headache down the line may arise for both the seller and the buyer. The seller usually assumes that once they receive the cash they have nothing to worry about. This turns out to be untrue in many scenarios. One such scenario is that the asset sold is not properly described in the sales agreement. The buyer is unhappy at a later date claiming misrepresentation of the asset sold. This may be due to a miscommunication. A lawsuit would ensue that could have been prevented with a proper sales agreement.

A proper attorney drafted sales agreement contains the following main clauses:

1. Proper descriptions of the asset or assets sold.

2. Clearly stating the asset is sold as is and they buyer has thoroughly inspect the asset purchased.

3. Seller warranting they are they legal owner of the asset sold.

4. Amount and terms of payment. This includes dates if payment is to be made in installments.

5. Delivery terms. This may be at the time of purchase or at a later date. This is especially important when dealing with large items.

6. Does not leave room for misinterpretations.

It a sales agreement an absolute must?

Yes, it is an absolute must. Most importantly, the contract ensures that the legal rights of both the seller and buyer are fully protected. Nobody wants any unexpected surprises or headaches down the road. As a general rule, it always best to err on the side of caution.

How To Trade Binary Options In An Easy Manner


There are a number of options, which traders can use as they venture into the Forex trade. One such method is the binary options trading. Learning how to trade using this method, especially for beginners in Forex trade, is a great step in ensuring that the business is profitable to them. The purpose of this article is to educate beginners in Forex on how to trade using the binary options, sometimes referred to as digital trading options.

What is binary options trading?

Before learning on how to trade using this method, it is important for one to understand what this method of Forex trading means. Binary options trading, unlike the traditional Forex trading options, involves the trader taking either a yes or a no position with regard to the price of a financial asset. The method is straightforward with a fixed reward and fixed risk, that is, the resulting payoff (on taking a yes or no position), is all or nothing. The various types of binary options are range options, touch or no touch options, calls versus puts options, and double touch versus no double touch options.

The key elements Understanding the major ingredients in this trading method is the first step to conceptualizing on how to trade using this method. Regardless of the type of binary options, there are three key elements that any Forex trader needs to consider. The elements are the strike price, the payout offer, and the expiry time. The strike price refers to the current price of the asset, at the time the trader enters the trade. The strike price is the one that is used to determine whether a trader wins or loses.

On the other hand, a payout offer is the amount, which the binary options broker is offering the trader, and it is known from the onset before the trader risks any money. The expiry time refers to the length of time between the moment of buying the option up to the moment when the contract closes (ranges between 60 seconds and a month). How to trade From the trader’s point of view, the digital trading option works by the trader predicting whether the price of a given asset, be it a commodity, stock, currency or any other asset, is going to increase or decrease within a given amount of time. In other words, the trader bets money on this given prediction.

The minimum trading money that the trader risks can be as little as 10 dollars. From the onset, the trader is shown the amount of money that he will earn in case the prediction is correct. The trader will pay for losing trade using the money risked. That is, if the trader’s prediction is wrong, he will lose the bet and the money that he risked. On the other hand, if the trader’s prediction is correct, he will get the money that he risked back as well as a return whose range is usually between 70% and 85%. An example of how to trade Assume that the current price of gold is $1890.50 and a trader predicts that two hours from now the price of gold will go down. The payout offer is 70% and the trader places $100 bet on the prediction. Two hours later, the contract expires and the price of gold goes down to 1890.25. This means that the trader predicted correctly. As such, the trader will get the $100 and a 70% return, which is $70 dollars, amounting to $170 regardless of the magnitude of price change. How to trade binary options for greater profitability For one to trade successfully and earn great profits, a combination of a polished technique and an unbeatable strategy are essential.

Some of the strategies for trading binary options are using price action in decision-making, risk management such as bankroll management, and technical analysis such as reading candlestick charts. How to trade binary options safely There is a significant amount of risk involved in this method. This is because one pays, through the trade money, for losing trades. As a rule of the thumb, one should never invest more money with a broker that he or she can afford to lose.

Valuing Your Business

Continued from Part 1, in this article, we will discuss two of the five methods of business valuation: intrinsic value and investment value.

Intrinsic value:

To determine the Intrinsic Value of a business, a valuator will compare the difference between the business’s value as calculated through a valuation with the value of the business being traded in the open market.

Expressing this numerically, if Acme, Inc. is trading in the market at $50.00 per share, but the value of the company is $75.00 per share when analyzed by a valuation professional, then Acme, Inc. has $25.00 of intrinsic value. $75.00 – $50.00 = $25.00.

By this method, the Acme, Inc. stock is evidently undervalued, so an investor who noticed the opportunity this discrepancy provides could purchase the stock at $50.00 with the expectation that the stock will rise toward its true Intrinsic Value as other investors perceive the same opportunity. Of course, there is no guarantee that Acme, Inc. stock will appreciate to its Intrinsic Value, or, if it does, how long the appreciation will take.

Investment value:

Though largely a subjective valuation, Investment Value is determined by the abilities of an investor to perceive an opportunity and take action based on their skills and experience with appraising a situation. An investor calculates the opportunity using knowledge, risk analysis, return characteristics, earnings expectations and a variety of other assessment techniques. Here is an example to explain Investment Value:

The investment being appraised is a 100-unit apartment building offered for sale in a desirable community. Three investors are interested in purchasing this building as an investment for upgrade and resale.

The first investor’s business model is investing and managing apartment buildings, and he values the building at $100,000 per door for a total value of $10,000,000 (100 units x $100,000 = $10,000,000).

The second investor’s business model is buying apartment buildings and converting them to condominiums; he then sells them at a premium. This investor values the property at $150,000 per door for a total value of $15,000,000. (100 units x $150,000 = $15,000,000).

The third investor’s business model is buying properties and redeveloping them to their greatest potential for return. He can afford to pay $200,000 per door for a total of $20,000,000. (100 units x $200,000 = $20,000,000).

Investor Value Perspective Business Intention

Investor 1 $10,000,000 Manage apartments

Investor 2 $15,000,000 Convert to condos/resell

Investor 3 $20,000,000 Development project

Which investor’s perception of the apartment building’s value is the right one? Each investor saw a different opportunity and a different Investment Value based on their perception of a familiar outcome.

All three investors are correct with their individual valuations because each of them perceived a unique value based on their knowledge and abilities. This is Investment Value.


A business valuation is conducted for a specific purpose, and that purpose will determine which of the five standards of value will be applied in your valuation. The Fair Market Value standard is the most common because of its use by the IRS and the courts, though the other types are useful in particular circumstances. Valuations should only be conducted by trained, accredited professionals.

How to Shop Around for the Best Checking Account

Whether it is your first back account or your fifteenth, choosing a bank account should always be done with careful consideration. If chosen haphazardly or on a whim, your new bank account can prove to be the cause of many unnecessary headaches, and even end up costing you a lot of money in checking fees. There are a few questions you should ask yourself to determine whether or not a bank meets the right criteria to be the right bank for you.

1) The first thing to determine is exactly what kind of bank account you are looking for, and what needs of yours must be met by this bank. For example, do you want to have a brick and mortar bank that you can walk into and talk with a banker if needed? Or do you operate mostly online or remotely, and therefore need a bank with strong online capabilities? Is the account a business or a personal account? Some banks will specialize in business or personal accounts, so that will be a good factor to take into account. Also, it’s a good idea to determine what kind of services you like to have in a bank, such as direct deposit, mobile banking, convenient ATM locations, etc. Once you know what you want and what you need, it becomes easier to single out the right bank account for you.

2) Ask friends and family about where they bank and why. This is one of the best ways to shop around, based on your interests and word-of-mouth from people you trust. Doing online research is also crucial to narrowing your list of banks that you have listed. One of the biggest benefits of the internet is the ability to read reviews of businesses online, though these are best taken with a grain of salt.

3) Find out if the banks on your list are FDIC insured. This means that the bank is insured and regulated by the Federal Deposit Insurance Corporation. Before moving any funds or setting up direct deposit into a bank account it is a good idea to make sure the bank is FDIC insured in order to protect your money.

4) Do some research into the different types of accounts. If you know for sure what type of account you are looking for from Step 1 (above) then this step may not apply, however, it is a good idea to find out what other kinds of account are available for future reference. Make sure you know the difference between a Checking, Savings, and Money Market account, and what interest rates are available for money market, interest earning savings accounts, and interest earning checking accounts.

5) One of the most important parts of choosing a new bank account is finding out about checking fees. A bank that has no fees is the best option, but there are also banks with low fees or minimum requirements. The key is to ask about any and all fees related to the account, especially hidden bank fees and monthly fees for minimums not met. It’s also a good idea to ask about overdraft protection, which pulls from savings to cover over drawn money from your checking account. Many banks offer this at no extra cost.

Companies Outsource Their Mortgage Processes to Save Cost and Efforts

A mortgage is the process used by people to raise money to buy a property or by which property owners try to raise capital. It is a complex procedure that involves a lot of steps for successful completion. It also requires the services of a lot of professionals in order to successfully complete the entire process.

The mortgage loan process starts from the time a borrower applies for a loan. For this, the borrower needs to fill out a number of forms. These forms usually contain details about the applicant. They are also required to submit a large number of documents. These documents are the different proofs that are needed by the lending party to verify. The form and the documents are then submitted to a mortgage processor. Some of the documents that are needed to be submitted by the applicant include their bank details, their pay stubs and their tax returns. These details are going to be verified by individually calling each source. Whether it is the banks, or the employer, the mortgage processor calls each individual to validate all the details submitted in the form of applications.

The lender is involved in the next step. All the verified documents are sent to the lender along with the application form. The lender on his part also carries out the verification. He starts with the title deed and also begins with the appraisal process. The lender then passes on all of the information to the underwriter. The underwriter is the final power that decides whether the loan will be approved or not. He checks the credit history of the person who has applied for the loan as well as validates the titles deed.

If the underwriter decides that the application isn’t enough for loan approval, he rejects it and sends it back to the loan officer. The loan officer works in conjunction with the processor to see if there are some steps that would increase the chances of loan approval. This again involves long and tedious processes to acquire the additional information that would help the loan seeker’s application.

If the underwriter approves the loan, he sends back the file to the lender. The lender then sets up a loan closing date in conjunction with the loan seeker. The loan seeker can use this date to close the deal with the property seller too. Care needs to be taken at every step of the approval process because government regulations change regularly. This can cause problems if they aren’t taken into account.

Financial companies that provide this service find it to be a very cumbersome process due to the legalities involved. From getting trained professionals to the right software and tools, the expenses and effort required by companies make it an attractive solution to get outside help.

Problems Associated With Asset Management

Asset management can throw up many issues regardless of where you go for it. The interesting thing is that many people have started sharing their experiences on asset management, which can potentially save time and energy for a newly employed organization or professional and learn many new things in the process.

It is important for you to known some problems that are associated with asset management. Here are some of the most common problems that you should know about.

Lack of information in the evaluation
When a large team is asked to deal with the asset management of the company, sometimes the updates or information is too difficult to assimilate. This may be because there is lack of coordination and some parts of the business not being covered completely.

Miscommunication or lack of communication among departments
This is the most common problem that involves human error. The miscommunication or lack of information can range from something as small as missing one decimal place to having discrepancies on record.

Lack of skills to manage assets
The technical skills and knowledge to mange assets is also equally important. If the team does not have the requisite experience in doing so then this incompetence will lead into disaster. A lot of management related issues may come up due to this.

Lack of technology needed by the company
For instance, you have all the skilled people you need. But you do not have the latest technology that matches their qualifications for doing the job then again you are fighting a losing battle. You may get some performance, but it will still be better if the technology matches the skills of your team.

Lack of support
When there is lack of support in any given task, it is bound to fail. The same happens with asset management. The lack of support or management among departments may not be conducive for positive results.

No or little balance in asset elements
Balance is the important factor for sustainable long-term growth. When there is balance in the different figures and categories represented in the charts and the core outputs then this implies good management. In addition, lack of balance implies that there are some things or people need to be modified or changed.

Lack of risks taken adversely affecting long-term growth
When one asset is being managed there is also a tendency to remove all risks, when in fact these risks are contributing to the company’s growth and positive returns. Avoidance of all risk is therefore ill-advised. One should, however, seek to have enough insurance coverage so that any unforeseen circumstances do not render the asset useless.


What Is the Importance of General Ledger Reconciliation?

The process of financial accounts or bank reconciliation is vital for any small, medium or large enterprise. During this process, an accountant or a business owner matches the balance of the general ledger statements to the bank statements. If the balance does not match, then, the statements require to be cross checked by the concerned authorities. By the end of the process, a business owner knows the exact amount of cash available with a business that can be used for further investment purposes.

Reconciling general ledger statements are important. Tight financial filing deadlines, month-end closure requirements and need for accuracy creates the need for organizations to reconcile their financial accounts, close books as well as file accounting reports accurately and timely.

It is the responsibility of an accountant to prepare journal entries for the amount adjusted in the financial statements by debiting or crediting an account.

Refining the process of general ledger reconciliation

Effective management of the account reconciliation undertakings greatly escalates an executive’s ability to actively identify as well as resolve errors that may result in wrong statements or inaccurate financial records. For this, one needs to understand the common or recurring problems of account reconciliations and find solutions to improve its efficiency and accuracy.

With in-depth domain knowledge and experience, one can reconcile the financial accounts appropriately. By forming and putting an appropriate reconciliation process in place and improving the optimization and automation of this process, organizations gain assurance to come up with a correct general ledger balance.

How a financial service provider can help?

Financial service providers act as a great help to organizations as they offer a wide range of accounting services such as general ledger accounting, accounts receivables, accounts payables, bank reconciliation, financial planning and management services. They also offer the latest technology, tools, resources and techniques in undertaking all related accounting functions in the best possible manner.

A service provider develops and deploys effective accounts reconciliation methodologies and techniques in order to provide proper financial records. Maintaining adequate financial records is very important for an organization as it acts as a legal document for business owners which they might need while taking any important business decision. It is required for reference purposes.

Service providers also rationalize a number of financial accounts monthly, quarterly or annually as per the requirement of a business. By reconciling the general ledger, an entrepreneur is able to keep a track of the cash inflow and outflow of a business. Besides, there are other various advantages of general ledger accounting and reconciliation services.

General ledger reconciliations and relevant services are very important for documenting, maintaining and managing accurate financial records in a timely manner.