Thursday, 28 July 2016

DEVELOP A PROSPERITY CONSCIOUSNESS


Two Great Discoveries:
Here are two of the most exciting principles ever discovered in the long search by mankind for the secrets of health, happiness and great personal wealth.

All Causation is Mental:
This means that everything that you are or ever will be, will be a result of how you use your mind. You are merely a mind with a body to carry it around with. The entire man made world that you see is simply an expression of thought. Your entire life is an expression of your own thinking. And since the quality of your thinking determines the quality of your life, if you improve the quality of your thinking, you must, you will, inevitably improve the quality of your life.

The Law of Expectations:
The second principle is what we call the law of expectations. This law says that whatever you expect with confidence, positive or negative, becomes your reality. If you confidently expect to succeed, if you confidently expect to learn something from every experience, if you confidently expect to become wealthy as a result of applying your talents and abilities to your opportunities and you maintain that attitude of confident expectations long enough, it will become your reality. It will give you a positive optimistic cheerful attitude that will cause people to want to help you, and will cause things to happen the way you want them to happen.

Take Action:
Here are two things you can do immediately to practice these principles in your day to day life:

First, start thinking today in a positive, optimistic, confident way about personal and financial success. Continually imagine what differences it would make in your life if you were at the peak of your career. This is the starting point of developing a prosperity consciousness.

Second, develop your own attitude of positive expectations. Look for the good in every situation. Look for the valuable lesson in every setback or difficulty. Be positive and cheerful about everything that happens and you will be amazed at the difference it makes in your life.
Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited


Tuesday, 26 July 2016

PROGRAMMING YOURSELF FOR SUCSESS


Programming Yourself for Success
Your mission statement is always written in the present tense, as though you have already become the person that you have described. It is always positive rather than negative. And it is always personal.

Program Yourself Correctly
Your subconscious mind can only accept your mission statement as a set of commands when you phrase it in the present, positive and personal tenses. "I am an exceptional salesperson," is a perfect example. After every sales call, you should quickly reread your mission statement and ask yourself if your recent behavior was more like the person you want to be, or less? As a top sales performer, you are always comparing your sales activities against a high standard and adjusting your activities upward. You're continually striving to be better. Every day in every way, you are deliberately working to become more like the ideal person you have envisioned.

Determine Your Mission Statement
Your goal may be, a year from today, when someone asks one of your colleagues to describe you as a Bookkeeper/ Accounts person, your colleague will recite your mission statement voluntarily. The way you have treated your work and people around you, would have been so exemplary that your colleague will describe you in the most glowing of terms.

Compare Yourself Against Yourself
Once you have developed a mission statement like this, you can read it, review it, edit it, and upgrade it regularly. You can add additional qualities to it and more clearly define the qualities you've already listed. It becomes your personal credo, your philosophy of life, your statement of beliefs and a guide to your behavior in all your interactions with others. Each day, you can evaluate your behaviors and compare them against the standard that you have set in this statement.

Shape Your Own Personality
Over time, a remarkable thing will happen. As you read and review your personal mission statement, you will find yourself, almost unconsciously, shaping your words and behaviours so that you are more and more like the ideal person you have defined. People will notice the change in you almost immediately. Over time, you will find that you are actually creating within yourself the kind of character and personality that you most admire in others.

Take Action
First, imagine that someone was going to meet with one of your colleagues at work. What would you want him to say about you? How could you behave with your current colleagues to be sure that he/she says those kinds of things?

Second, talk to yourself positively all the time. Feed your mind with positive messages that describe your goals and the person you want to be.

Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited

Friday, 22 July 2016

FOCUS ON KEY RESULT AREAS

The Key Question for You to Ask:
Why are you on the payroll? This is one of the most important questions you ever ask and answer, over and over again, throughout your career.

As it happens, most people are not sure exactly why they are on the payroll. But if you are not crystal clear about why it is that you are on the payroll and what results you have been hired to accomplish, it is very hard for you to perform at your best and get paid more and promoted faster.

Determine the Results Expected of You:
In its simplest terms, you have been hired to get specific results. A wage or a salary is a payment for a specific quality and quantity of work that can be combined with the work of others to create a product or service that customers are willing to pay for.

Define Your Key Result Areas:
Each job can be broken down into about five to seven key result areas, seldom more. These are the results that you absolutely, positively have to get to fulfil your responsibilities and make your maximum contribution to your organization. Your failure to perform in a critical result area of your work can lead to failure at your job. There is essential knowledge and skill that you must have for your job. These demands are constantly changing. There are core competencies that you have developed that make it possible for you to do your job in the first place. But there are always key results that are central to your work and which determine your success or failure in your job.
You Are Responsible:
A key result area is defined as something for which you are completely responsible. This means that if you don't do it, it doesn't get done. A key result area is an activity that is under your control. It is an output of your work that becomes an input or a contributing factor to the work of others.

Give Yourself A Grade:
Once you have determined your key result areas, the second step is for you to grade yourself on a scale of 1-10 in each of those areas. Where are you strong and where are you weak? Where are you getting excellent results and where are you under performing?

Here's the rule: Your weakest key result area sets the height at which you can use all your other skills and abilities.

This rule says that you could be exceptional in six out of seven key result areas but really poor in the seventh. And your poor performance in the seventh area will hold you back and determine how much you achieve with all your other skills. This weakness will act as a drag on your effectiveness and be a constant source of friction and frustration.


Take Action:
First, identify the key result areas of your work. What are they? Write down the key results you have to get to do your job in an excellent fashion. Give yourself a grade from 1-10 on each one. And then determine the one key skill that, if you did it in an excellent manner, would help you the most in your work.

Second, make a habit of doing this analysis regularly for the rest of your career. Never stop improving. This decision alone can change your life.

Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited

Thursday, 21 July 2016

A BASIC TEST ON YOUR DOUBLE ENTRY


Scenario:
Jemm Ltd has just bought a machine for £30,000 net for company use and paid VAT on the purchase and the total amount was paid through the bank account immediately. What will be the double entry posting for this?

Double entry posting:
DR: Machine account           £30,000
DR: VAT account                 £6,000
CR: Bank account                 £36,000

Reason:
The machine account has been debited because machines are increasing and if an asset is increasing we debit the relevant asset account and we have debited VAT account with 20% of £30000; because VAT on purchases is an asset which can be claimed back from HMRC and the amount to be claimed back is obviously increasing due to this additional purchase.

We have credited bank because bank account is paying out money and the balance in the bank account is reducing; if an asset is decreasing, we credit the relevant asset account.

REMEMBER:
DEAD/CLIC

 Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited

Tuesday, 19 July 2016

WHAT ARE THE MOST IMPORTANT ISSUES TO YOU RIGHT NOW ?

Make separate lists for issues in your career pursuit and issues in your personal life. 

- Which of these issues are you dealing with?
- Which ones are on the back-burner?
- Which ones aren't even in the kitchen?
- What are the processes you use to deal with these issues?
- Which issues are you ignoring, or hoping will go away?
- What breakthroughs might be possible by addressing or resolving issues in   the latter category?
- Where are you "resolving" issues by compromising?
- What possibilities are available by refusing to compromise, or by breaking your compromises?

Can you see some conflicting priorities posing as hindrances as you go along each day?
Can you see yourself as being able to deal with the conflicting priorities in your personal life and at work?
Can you see yourself working within a team and resolving the conflicting priorities of others? (as though yours aren’t enough)

What form of team spirit are you bringing into the workforce or are you currently contributing to your team?

- How do you balance your time in order to fulfil your career pursuit and your personal life?
- Which one of them is on the back-burner?
- Which one of them isn't even in the kitchen?
- What are the processes you use to deal with these issues?
- Which one of these issues are you ignoring, or hoping will go away?
-What breakthroughs await you, if only….!


Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited

Friday, 15 July 2016

FOUR RULES OF TIME

There are four rules of time.
Time Is Perishable:
The first is that time is perishable. This means that it cannot be saved. In fact, time can only be spent. Because time is perishable, the only thing you can do with it is to spend it differently, to reallocate your time away from activities of low value and towards activities of higher value. But once it is gone, it is gone forever.

Time Is Indispensable:
The second rule of time is that time is indispensable. All work requires time. No matter what it is you want to do in life, even looking out a window or sleeping in for a few extra minutes, it requires a certain amount of time. And according to the 10/90 Rule, the 10% of time that you take to plan your activities carefully in advance will save you 90% of the effort involved in achieving your goals later. The very act of thinking through and planning your work in advance will dramatically reduce the amount of time that it takes you to do the actual job.

Time is Irreplaceable: The Currency of the Future
The third rule of time is that time is irreplaceable. Nothing else will do. Time is the only currency that means anything in your relationships with the members of your family, your friends, colleagues, customers and co-workers. Truly effective people give a lot of thought to creating blocks of time that they can then spend, without interruption, with the important people in their lives.
The Key to Goal-Achievement:
The fourth rule is that time is essential for accomplishment. Every goal you want to achieve, everything you want to accomplish, requires time. In fact, one of the smartest things you ever do, when you set a goal, is to sit down and allocate the exact amount of time that you are going to have to invest to achieve that goal. The failure to do this almost always leaves the goal unaccomplished.

Take Action:
Here are two things you can do immediately to put these ideas into action:

First, decide today to redirect and reallocate your time away from low-value tasks and towards high-value activities.

Second, make a plan to spend more time face-to-face with the most important people in your life.

The more you think about the use of your time, the better you will become.

Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited

Wednesday, 13 July 2016

AN INTERMEDIATE LEVEL TEST ON YOUR DOUBLE ENTRY

Scenario:
On 20th April 20XX, Jemm Ltd bought a machine for £30,000 net for company use and paid VAT on the purchase and half of the total amount was paid through the bank account immediately and the balance will be paid at the end of next month. What will be the double entry posting for this across the two periods?


1. Double entry posting:
20/04/XX
DR: Machine account                     £30,000
DR: VAT account                            £6,000
CR: Bank account                           £18,000
CR: PLCA                                       £18,000

Reason:
The machine account has been debited because machines are increasing and if an asset is increasing we debit the relevant asset account and we have debited VAT account with 20% of £30000; because VAT on purchases is an asset which can be claimed back from HMRC and the amount to be claimed back is obviously increasing due to this additional purchase.

We have credited bank with half of the total amount because bank account is paying out only £18,000 now and the balance in the bank account is reducing; if an asset is decreasing, we credit the relevant asset account. 

2. Double entry posting:
31/05/XX
DR: PLCA                           £18,000
CR: Bank account               £18,000

Reason:
The PLCA is being debited because a liability being owed has now been paid, so the creditors balance is reducing and if a liability is reducing we debit. We have credited bank because bank account is now paying out the outstanding balance of £18,000 and the balance in the bank account is reducing; if an asset is decreasing, we credit the relevant asset account.

REMEMBER:
DEAD/CLIC

Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited


Monday, 11 July 2016

WHAT ARE YOU SACRIFICING TO ACCOMPLISH YOUR CURRENT OBJECTIVE ?

Hello,
Maybe you should ask yourself- what are your current objectives?

Identify them and then, move on.

The definition of sacrifice is giving up something of value for something of even greater value. Did you intend to give up that thing of value, or is it a thoughtless by-product of your other choices?

Do not dismiss this lightly.

In your daily life, there are a number of priority conflicting critical success factors. These may include being healthy, keeping the family happy, catering for your family, supporting your relatives and friends, getting a good job, getting a better job, pursuing a career, personal development, increasing productivity, education, becoming successful, creating wealth, and loads more.

- Which one gets the most attention?
- And in this operating cycle - will each area get the attention it needs?
- Even in a lower position of priority, these areas cannot be neglected.
- What isn't getting done that needs to be done and how are you going to do it?

Conflicting priorities will always crop up, amidst all the pressure and confusion, you need to sieve through all of these and establish what you need to be focusing on in order to meet your objectives.

What are you giving up and how valuable is it to you?
Just get on with it!!

Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited

Friday, 8 July 2016

A BASIC TEST ON YOUR DOUBLE ENTRY: PART 3

Scenario:
SAZZ Ltd has just bought a vehicle for £50,000 for company use and will pay for it next month. What will be the double entry posting for this?

Double entry posting:
DR: Vehicle account                       £50,000
CR: PLCA                                       £50,000

Reason:
The vehicle account has been debited because vehicles are increasing and if an asset is increasing, we debit the relevant asset account and we have credited Purchases ledger control account (PLCA) because the company hasn’t paid for the vehicle and the full amount is currently outstanding and this is a liability. Hence the liability is increasing, and if a liability is increasing, we credit the relevant liability account.

REMEMBER:
DEAD/CLIC

N/B:
PLCA is also called Creditors Control Account/ Trade Payables Account


Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited

Tuesday, 5 July 2016

DEVELOP A CLEAR VISION


The one quality that all leaders have in common is that they have a clear and exciting vision for the future. This is something that only the leader can do. Only the leader can think about the future and plan for the future each day.

Take the Time to Think:
To become an excellent leader in your chosen field, take the time to think through and develop a clear picture of where you want to be in one, three and five years. Leaders have the ability to communicate this vision in such a way that others "buy in" and eventually see the vision as belonging to them.

Motivate People to Give of Their Best:
It is the vision of your future possibilities, of what can be, that arouses emotion and motivates people to give of their best to your success. The most powerful vision is always qualitative, aimed at and described in terms of values and mission rather than quantitative, which is described in terms of money and numbers.

Money is Important:
Of course, money is important, but the decision and commitment to "be the best in your career" is far more exciting, and you will find that money will follow your excellence.
Keep Your Cool:
The character and quality of a leader is often demonstrated in the critical moments when under fire, when everyone is watching, observing and privately taking notes. As Rudyard Kipling once said, "If you can keep your head when all around you are losing theirs and blaming it on you, then the world is yours and all that's in it".

Your job as a leader is to have a clear vision of where you want to go and then to keep your cool when things go wrong, as they surely will.

Take Action:
Here are two things you can do immediately to put these ideas into action:

First, project forward 3-5 years and imagine your ideal future vision. What does it look like? What steps can you take immediately to begin turning your future vision into your current reality?

Second, resolve in advance that, no matter what happens, you will remain calm and cool. You will not become upset or angry. You will take a deep breath and focus on the solution rather than on the problem.


Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited

Monday, 4 July 2016

A BASIC TEST ON DOUBLE ENTRY : PART 2

Scenario:

Talat Ltd has just bought a machine for £17,000 net for company use and paid VAT on the purchase and the total amount will be paid next month. What will be the double entry posting for this?

Double entry posting:
DR: Machine account                     £17,000
DR: VAT account                            £3,400
CR: PLCA                                       £20,400

Reason:
The machine account has been debited because machines are increasing and if an asset is increasing we debit the relevant asset account and we have debited VAT account with 20% of £17,000; because VAT on purchases is an asset which can be claimed back from HMRC and the amount to be claimed back is obviously increasing due to this additional purchase.

Purchases ledger control account (PLCA) because the company hasn’t paid for the machine and the full amount is currently outstanding and this is a liability. Hence the liability is increasing, and if a liability is increasing, we credit the relevant liability account.

REMEMBER:
DEAD/CLIC

N/B:
PLCA is also called Creditors Control Account/ Trade Payables Account

Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited


A BASIC TEST ON DOUBLE ENTRY: 1

Scenario:

Talat Ltd has just bought a machine for £17,000 net for company use and paid VAT on the purchase and the total amount will be paid next month. What will be the double entry posting for this?

Double entry posting:
DR: Machine account                     £17,000
DR: VAT account                            £3,400
CR: PLCA                                       £20,400

Reason:
The machine account has been debited because machines are increasing and if an asset is increasing we debit the relevant asset account and we have debited VAT account with 20% of £17,000; because VAT on purchases is an asset which can be claimed back from HMRC and the amount to be claimed back is obviously increasing due to this additional purchase.

Purchases ledger control account (PLCA) because the company hasn’t paid for the machine and the full amount is currently outstanding and this is a liability. Hence the liability is increasing, and if a liability is increasing, we credit the relevant liability account.

REMEMBER:
DEAD/CLIC

N/B:
PLCA is also called Creditors Control Account/ Trade Payables Account

Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited


Friday, 1 July 2016

A BASIC TEST ON YOUR DOUBLE ENTRY:

Scenario:
The owner of Raqut Services has just bought a vehicle for £60,000 for his personal use and he has paid for it through the business bank account. What will be the double entry posting for this?

Double entry posting:
DR: Drawings account                   £60,000

CR: Bank account                    £60,000

Reason:
The vehicle which was bought is for the owner and not for the business, but the business bank account has been used to make the payment, so it has to go through the accounting records, but it will be accounted for as drawings and debited to the drawings account as the drawings is increasing. It will not be debited to vehicles account because the vehicle is not for the business.

We have credited bank because bank account is paying out money and the balance in the bank account is reducing; if an asset is decreasing, we credit the relevant asset account.

REMEMBER:

DEAD/CLIC

Yours Sincerely,
The Friendly Team

The Training Place of Excellence Limited