Accounting for Exchanged Assets (trade-in)

This is controversial topic recording gain/loss based on FMV or using NBV with no recognizing gain/loss.

Whether it’s an exchange of similar or different assets, there is a high possibility of Commercial Substance. An exchange has commercial substance if the future cash flows change as a result of the transaction. That is, if the two parties’ economic positions change, the transaction has commercial substance.

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5 side business to boost your income in 2021

The previous year was not easy at all for most of us. The pandemic made it difficult for most people. Many lost their jobs and source of livelihood. So, to avoid a repeat, panoramic or not. Here are 5 side business to boost your income in 2021. These business are no brainer businesses you can start from your home. All you need is the basic skill set, internet or a smartphone. The basic skill set you may already have developed while doing a 9-5 job. So, it’s time supplement your income with these side businesses.

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Credit Cards: Make them work for you

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Hi Everybody,

First, I would like to thank Mohamad Al Karbi for inviting me to write a guest post on his blog. It’s my first guest post and I feel truly honored.

To be honest, I wasn’t too keen on accepting the invite because I had been asked to write on banking. All who know me, will not be surprised at the hesitation I felt. Blogging for me, has been an outlet from the mundane world of banking and I have enjoyed every moment of it since I started last September. It is what I do with my heart and Banking is what I do, with my brain.  But as all roads must intersect at some point in time, so I guess, this is point of intersection between what I love doing and what I have to do . Having worked for eighteen years in credit cards, I can say I do understand the workings of a credit card and the ordinary issues a layman faces when dealing with cards. So Mohamad was definitely right in approaching me to do this. In today’s post, I aim to explain benefits that you should be looking for,  when picking a card for you and mistakes people generally make when using the plastic.

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Make up to 1K a month on Upwork in your spare time

Do you have some free time? Do you have good writing skills? Do you need some extra cash? Who doesn’t? Using the freelancing platform Upwork, you could put your writing muscle to good use and earn decent dollars in your spare time. With limited experience as a freelance writer prior to setting up my profile on Upwork, I was pleasantly surprised when I landed my first client within a day, then proceeded to make $500 in my first month! I’m now earning up to $1,000 per month by writing in my spare time. I’m going to share my secrets on how to make up to 1K a month on Upwork in your spare time.

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