Treatment or House: How to Avoid This Medical Decision

Let me introduce you to Cari; a teacher, loving wife, and mother of two young children whom was recently diagnosed with crohn's disease and prescribed infusions. Cari, assumed her insurance policy covered these treatments until she received a bill for close to $20,000, and that was for ONE treatment. She would have to continue these treatments every five weeks!!!!! After not much success, Cari reached out to me in panic, and we managed to get her bill down to $411 with some of the following tips:

1. Get into your Zen: The last thing Cari needed was an ulcer. With a few deep breathes and a plan of action in place, she was ready to tackle this "billing monster."

2. Get a copy of the itemized bill and medical records: We were able to uncover some billing mistakes, but get a "clearer picture" of what was being done and if there were any options. In Cari's place, it looked like her insurance rejected part of the bill because the infusion center was not covered by her insurance.

3. Talk to the right person: Some facilities have patient advocates or social workers that can help find other options for payment. Cari was able to verify what we discovered through an advocate at the facility. In addition, the advocate pointed out some additional insurance options that Cari was qualified for, but not taking advantage, so we immediately filled out all the paperwork with the help of the facility and got her on the correct plan within 2 months.

4. Talk to your prescribing doctor: Maybe there is an alternative medication or cheaper treatment? In Cari's case, she had an adverse reaction to alternative treatments, so that was not an option. In some cases, the prescribing doctor may have free samples (usually about 2 months worth) that he/she can provide you with until a financial solution is figured out. Cari's case was a little more difficult since she was in need of a biologic which tends to be a little more complicated therapy since there are many factors involved including an infusion site.

5. Find out what financial assistance programs are out there: There are plenty of "patience assistance programs" and/or "financial need programs" that are available for all situations. Familiarize yourself with these programs and get qualified as soon as possible. Some websites that may be helpful include: NeedyMeds, together Rx Access, or a State Pharmaceutical Assistance Program.

6. Go straight to the manufacturer: Many larger manufactures have an "Access Services Manager" or someone equivalent that can help guide you through the process of qualifying for some of these access and affordability programs. Cari found Kim, an access services manager for the Remicade she needed by going to the Janssen Pharmaceuticals, Inc. website and calling the 888 number provided. For those that are not as savvy, the prescribing doctor can help provide you with the correct number by contacting the representative they deal with from that pharmaceutical company.

7. Be pleasant and prepared: Before initiating any calls, take a deep breathe and be sure you write down the following information so you can provide it in a cohesive way when the representative asks, which will make the call pleasant and quick:

Your name and contact information

The pharmaceutical prescription

The desired location if needed

Insurance information (if you have insurance)

Your income level (a copy of your W-2 can provide this information)

Some programs may require additional information, and you may not get the correct person on the phone the first time. Be patient and be persistent. If your blood starts to boil, hang up and call again when you are calm, or have a loved one call with you.

8. Take notes: Get the person's name and contact information if possible. Document the date and time of the call, and summarize what was said, including any additional instructions given to you as well as when the person may call you back. In Cari's case, we were asked to call back to get an update on what Kim was able to find out regarding her situation. In conclusion, Kim was able to locate a site that was accepting her insurance and determine that this site was accepting new patients. Kim also enrolled Cari in an additional free service to remind her of her infusion dates.

9. Breathe and get started: Now that everything is verified, Cari is able to get her infusions and NOT go into medical debt. In addition, she knows to ask for an itemized bill and a copy of her medical records after each infusion, so she can keep track of her bills and be sure there are no mistakes. If there is a discrepancy, she has her access service manager, Kim to help her work it out and avoid an ulcer.

Today, Cari is an empowered patient with no medical debt and an infusion center that is convenient to her house that is covered by her insurance.

Find Some Hidden Expenses in Your Car Insurance Such As Healthcare?

Chances are, if you own a car, you might be paying for some unnecessary "extra options." For example, if you already have health insurance, why does one need the "medical coverage" under car insurance? Have you ever asked your car insurance company what this means? So what if you get into a car accident and you are injured? Will your current health insurance wait for your car insurance to kick in because you have this "medical coverage," thus delaying claims? How long will this be delayed, and will this affect your health insurance coverage because of a "lengthy delay," costing you more out-of-pocket medical expenses because you missed the submission day? It all sounds to familiar, right? But if you do not have health insurance and you are injured in a car accident, this "medical coverage" can help pay for some of your medical bills (it did for me).

In general, this "medical portion" of your car insurance MAY cover the following, but be sure to ask your car insurance representative to explain:

Some funeral expenses

Passengers that might be hurt while you or a family member is driving

If you are an injured passenger in someone else's car

If you are struck by a car while walking or cycling

If you require dental care after an accident

If you require extended nursing services or hospitalization while rehabilitating

If you require prosthetic limbs

So if you are doing some "summer cleaning" and you are trying to uncover some cost savings because you are worried about that mysterious increasing premium under your health insurance, be sure to call your car insurance and start asking questions (and be sure to document the answers).

Start with these warm up questions: Do you really need the rental car option if you have a new car? How does that loss of income actually help you and in what situation? When does that bodily injury actually kick in, and what part of your body?

When you feel warmed up to the point that the car insurance representative is sweating, start asking about the "medical expense payments." What is the bare minimum requirement needed in your state? What does it cover? How does it compare to your current health insurance? When does it kick in?

Medical Debt No 1 Cause Of Filing for Bankruptcy

Medical debt is the leading cause of filing for bankruptcy in the United States. Medical debt can be accrued in a number of ways, but is most often due to a lack of proper health insurance or unforeseen medical conditions and emergencies that are not adequately covered by insurance policies. With the advent of the Affordable Care Act many people are hoping that this trend will not continue, but as of right now it remains a very real and pressing concern for millions of Americans, many of whom are faced with overwhelming debt and unsure where to turn.

Reasons for Medical Debt

A recent study showed that 62% of households facing major debt cited medical debt as a big part of their problem. These debts come in the form of unexpected emergency room visits, which can be expensive even if a person has health insurance and are prohibitively so if the person does not. They also come in the form of dental work, which is a separate kind of insurance not generally covered by basic health plans. Dental work can easily run into the thousands of dollars, and is the kind of work that, when needed, is absolutely needed ASAP.

Another huge factor in outstanding medical debt that gives people thoughts of filing for bankruptcy is the out-of-pocket costs of prescription medications. Prescription drugs can cost an arm and a leg, and are notoriously difficult to get covered under typical health insurance plans.

Health conditions that lead to skyrocketing debt are generally related to obesity and to the effects of age, and those suffering from such conditions and the associated debts are filing for bankruptcy at an increasing rate.

Another worrying statistic in the study is that households already saddled with medical debt are less likely to seek treatment when needed, wishing to avoid further debt burden and filing for bankruptcy.

In addition, even after filing for bankruptcy, which can clear giant chunks of unsecured debt, many people are afraid to go in for new treatment, since they likely would still not have proper insurance and would not be able to discharge new medical debt for several years after the initial discharge.

1.7 million people will be filing for bankruptcy due to medical debt this year, the study estimates. Luckily the protections offered by filing for bankruptcy are strong and able to discharge most of the debts incurred by those suffering from poor health or accidents - but the larger issue is that poor health and accidents are a reality of life, and it feels like something is inherently wrong when a system fails to account for these realities in a meaningful way.

Medical Emergencies: Leading Cause of Bankruptcies in America

There are several reasons people file for bankruptcy. What may come as shocking news is that most people are a SINGLE major health issue away from considering bankruptcy as an option. How can this be when majority of families have some form of health insurance? For one thing, it all depends on a number of circumstances. Here are a few examples of what needs to be considered:

• What type of insurance you have 

• What sort of medical issue you have 

• What is the co-pay percentage

Medical bills are actually the biggest cause of bankruptcies within the United States. In 2013 alone, almost 2 million people had filed for bankruptcy citing medical bills as their reasons. Even health insurance provides minimal help in preventing these cases.

Why?

One reason is that the average co-pay in most plans is 20%. This works out well for check-ups and minor injuries but if you happen to contract a major illness or get in a serious accident, you could possibly rack up a bill over $50,000 where you would need to cover 20% or $10,000 along with the deductible. For just about anybody, this would be a life-changing tragedy that necessitates seeing a bankruptcy lawyer.

Who are affected?

Of those who have stated medical bills as their reasons for filing bankruptcy, 78% of them had medical insurance of some sort. Most of those affected were educated middle-class families. 1 out of 5 Americans will face problems paying medical bills this year. Accidents and life-changing diagnosis can happen to anybody.

Even with proper savings and good spending habits, the burden of some medical bills is simply too much for most people to handle. This is a problem that an estimated 56 million Americans will need to face this year alone.

What can happen?

Seeing as most health care institutions employ their own means of collecting debts, overdue health bills are treated the same way as other types of debt regardless of the fact if you are now incapable of maintaining your job due to your health issue. You can expect similar means of debt collection such as multiple phone calls, court ordered actions, and other harassing techniques.

How to address the issue?

Bankruptcy is, and should always be, considered as the final option and should only be seriously considered once all other options are exhausted. Lawyers that specialized in bankruptcy are also experts when it comes to finding working solutions for debts. Your best course of action would be to seek the assistance of a bankruptcy lawyer as soon as you are facing a massive medical bill.

The common belief is that credit card debt or mortgages are the main causes for filing for bankruptcy. Most people are caught blindsided by such big bills that they find themselves at a loss for what to do. Simply having the knowledge that 3 out of every 5 bankruptcies are caused by medical bills is already a good start. Knowing is always half the battle and it always beats being caught off-guard.

How Crowdfunding Can Help Pay Medical Bills

Crowdfunding can help pay for medical bills... it really is that simple. You can crowdfund for just about anything, including medical bills. Many times people are placed in a medical crisis and aren't sure where to turn. Medical bills can accumulate in no time and medical bankruptcy is a real thing. You'd be amazed by how many people in "your own crowd" are willing to help.

In a study published in January 2014 from the Center For Disease Control (CDC), one in four families experienced financial burdens of medical care.

This "financial burden" of medical care equates to medical bills that they can't currently pay and are forced to pay monthly over time.

This study goes on to share that families with lower incomes were more likely to experience the financial burdens of medical care. Those families with incomes at or below 250% of the federal poverty level had the highest levels of any financial burden of medical care.

250% of the federal poverty level (based on guidelines for 2013) means that a family of four with an annual income of $58,875 or lower were at the highest level of the population feeling the financial burden of medical care for a loved one. That's our middle class America. Those are the families living paycheck to paycheck and not prepared for a medical crisis.

The is a baby with his eyes closed and an oxygen canula in his nose. He was born with a bad heart, a weak immune system, and problems eating which caused a condition labeled by doctors as "failure to thrive". Isaac spent the first year of his life in and out of hospitals in Las Vegas and at Stanford where he underwent multiple heart catheterizations and procedures, open heart surgeries, and had a feeding tube placed surgically to ensure he received the proper amount of nutrients. Isaac's family had great insurance, covering 80% of all medical costs. But, they still spent over $100,000 out-of-pocket the first year of his life in deductibles and medical related expenses.

Shocking... right?

I know... My name is Kathy, and I'm Isaac's mom.

I remember people asking us if they could have fundraisers for us, give us money... they would offer to do anything just to help. At that time, I could not have imagined the costs that we would incur, nor could I imagine all the things that insurance doesn't cover. You assume that you pay for insurance, you'll have a deductible... The End.

If that were only so.

Words of Advice:

Start a Crowdfunding Campaign Immediately

Don't be too humble to let other people offer to help you. You really can't imagine the costs of things in the medical world and how they add up. It is TOO hard to think about money when you're talking about the healthcare of someone you love. You want anything and everything done... you'll worry about the bills later.

From a Mom that's Been There

Don't expect the people in the middle of a medical crisis to be thinking clearly (well, I sure wasn't). If you're related to the family or just a loving friend... talk to them about the medical bills and the reality of the situation. Talk with them about what they need now and what their needs may be in the future and help them come up with a budget and plan to get everything their loved one needs. From bills, equipment, therapy sessions... even therapy dogs, all these things can be a necessity now or in the future.

How exactly will crowdfunding help pay my medical bills?

Well, they can't send a check to the hospital for you, but they can offer you a platform that will help you tell your story as well as share it with your friends and family. The right crowdfunding platform will provide support for you all along the way, from guidance writing your story, picking pictures to post, sharing on the social media channels, and even help writing press releases to get national exposure.

Crowdfunding can help you pay for your medical bills by allowing YOU to take care of your family and letting your "crowd" help YOU. Donations will be made by people you have inspired and want to help you. These people will have a platform to donate to you on their schedule and an amount that is within their means. They will be assured that the funds are going directly to YOU and not an anonymous organization.

You are not alone in your medical crisis. Crowdfunding is a viable source for helping to pay for medical bills and other medical related necessities.

All You Need to Know About Merchant Cash Advances

For the flourishing of a business a lot of capital investment becomes necessary. In most of the cases the businessmen go ahead to get business loans. But the dragging procedure associated with sanctioning a loan is not there if you choose to attain the required capital through merchant cash advances. This is an alternative for the regular business loans offered by banks. The merchant cash advance is given out on the basis of credit card factoring. The lender will provide the businessmen with the required amount expecting a certain amount from the daily debit and credit card sales. Most of the advance loans come with higher interest rates.

The business cash advances are mainly loans for a short period of time. This is mainly obtained to meet many of the personal as well business necessities. The amount given out as loan by the lender of the cash advance is generally of a small amount. It is secured on the basis of the business owner's personal collateral security. The important fact associated with this kind of loan is that they are based on sales of credit cards rather than on the basis of credit history.

You don't have to worry about whether your request for merchant cash advance will be approved. This is because you don't need to have a good credit history to get the advance. Good credit score is also not demanded. All they have to provide the lender is the proof of the debit as well as credit card sales. These factors make it much easier to get a merchant cash advance when compared to other forms of lending. Since it doesn't involve a lot of paper work, it is quite easy to go through the processes. Moreover in the case of standard business loans, you will have to state the ways in which you are planning to spend the loan amount. But in the case of these advances, there is no need for such worries. You can spend the money as you wish.

Applying for business advance loan is the best method to borrow some money at the time of an emergency. As it doesn't involve many difficulties to secure the advance and thus most of the business owners go for this. All they have to be careful about is regarding the paper works as merchant cash advance is an unsecured loan. You should also do a bit of research before you choose the lender.

What You Need to Know About Merchant Accounts, E-commerce, and Payment Gateways

Whenever you read about an internet venture, you see phrases like "e-commerce payment processing" and "payment gateway". If you are just getting into the field, you should know a bit about the differences between a merchant account and a payment gateway - sometimes called an "e-commerce" payment processor.

If you are looking to peddle your wares on the net, then go ahead and read this article so you can understand more concerning the way payment processing works, what it costs, and the options that are there for you...

Here's the basic definitions:

What is a merchant account? A merchant account is a specific kind of bank account provided by a financial institution on a set contract. This will allow you to take credit card payments when conducting transactions. This is an approval-based product, that has separate fees and terms and conditions.

A merchant account allows you to take credit card payments from your clients. Depending on the merchant service, it is possible that you could also be able to accept debit cards and e-check payments.

For an online business, you will be required to get a payment gateway after you set up a merchant account. This will provide you with a shopping cart system with which your customers are able to buy and pay for whatever product they select.

The asset that a merchant account provides is that it has the capacity to automate your business - people will be able to put money into your account on the Internet, around the clock.

What is a payment gateway? - A payment gateway, exactly as the name says is the direct link between the shopping cart and the bank that processes the payment. This is generally completed online, in real time and involves authorization, processing and management of all online transactions. Immediately after the payment is authorized the organization would need to access their gateway graphical user interface in order to finish the transaction.

As you can see, the main difference between the merchant account and the payment gateway is that one is the license that allows you to take payment by credit cards, and the other is the medium through which the receiving of online payments takes place, including credit cards.

You should know that having access to payment gateway does not entitle you to take credit cards. The merchant account is an entirely different service that must be applied for and gotten before you are able to accept credit card payments. Keeping that in mind, many merchant providers also provide payment gateway services. A well liked payment gateway is Authorize.net.

Many times when you establish your business you will be given the option of opening some payment gateways or other services with which you would be able to receive credit card payments. When you accept this offer , many times you will not have to pay for set up charges that you would be required to pay when you apply for a merchant account. Sometimes, these may be beneficial when compared to a regular merchant account if you have low sales volume.

(Generally, if you are looking to do any sort of volume with your company - and I'm speculating that you are - it's better to simply obtain a merchant account of your own. It's more dependable, more affordable over the long haul, and you retain more control over the payments that are processed - also access to card/customer data)

Remember, a payment gateway will rarely include the approval of receiving credit cards, while numerous merchant accounts in reality offer the set up of payment gateways as part of the extra features affiliated with the contract with you.

Both the payment gateway and the merchant accounts are vital steps in establishing your online business on the way to complete automation. In fact, you may not understand how many sales you're forfeiting until you take the plunge and set up your own merchant account with a gateway...

Know About Merchant Banking

Know About Merchant Banking

Businesses can't grow without the required capital. But getting access to capital can be a very real pain. It is to fulfill this need of gaining enough capital, that merchant banks were first established. Though they were primary only formed to help out merchants, it is no longer so. Throughout centuries, the services of merchant banks have grown to include a great many industries. The core of the banking though remains the same - they help with businesses with their banking needs. But now they have also included consultancy services. Businesses that feel the need to have advice on marketing, finance, management and legal matters could easily approach merchant banks for assistance. These banks have advisors that now help business with a variety of problems that any business would at one time or another face. They provide their guidance for a set fee.

Their guidance includes a variety of things. When a business is just starting up, they help to seed it with enough capital for it to be sustainable. When the business is about to expand, the bank ensures they raise enough capital for the expansion to be a successful venture. If the business needs to be modernized, they offer suggestions on how and in which manner it can be done, and the financial repercussions that would follow it. If a business needs to be restructured, the banks provide sound advice. When a long-held business has grown sick, they step in to revive it to profit by way of long-term loans. In an overall manner, the banks can also help businesses to buy and sell stock in the stock market. Usually the bank determines the stocks to be released and the time at which they're to be released. Regardless of which problem businesses have, it had enough experience to guide them. Most of the time though, they tend to pick out larger businesses. But they also help out businesses that are only just starting out.

At times, due to their range of services, these services are also called wholesale banks. Generally, most merchant banks have an area of speciality, things like underwriting and international finance. You'll find that such banks also have both retail and merchant divisions, in an effort to branch out. Retail banking, being so dissimilar to merchant banking, is usually held as a separate division though. Merchant banks are usually the premise of businesses and large corporates, what with their area of expertise being business and financial management.

Chargebacks: What Are They, Why Do They Happen, and How Can Merchants Prevent Them

Chargebacks: What Are They, Why Do They Happen, and How Can Merchants Prevent Them

Chargebacks, even in a best case scenario, can be very costly for a merchant. In a worse case scenario, they can hold up significant funds from being transferred to the merchant's bank account starving them out of much needed cash for operations and growth. In order for a merchant to really be able to prevent and decrease the number of chargebacks, it becomes important to understand what they are, why they happen, and how to prevent them.

What Are Chargebacks?
Quite simply put, chargebacks occur when a customer disputes a charge on his/her bill. They may dispute it for reasons such as:

An accidental double billing to an account
A customer not being satisfied with the product/service that was received
The business name not being recognized on the customers' bill
Fraudulent activity occurring because of an unauthorized purchase or identify theft
Why Do Chargebacks Happen?
Most transactions are given 120 days from when the charge is placed on the bill for a customer to dispute a charge. Should this occur the process could take more than a couple of months. The process usually begins when the issuing banks issues a code for the dispute. As a result, the merchant's bank withholds the funds in question while the customer gets a refund. In essence, the sale is reversed.

Once this occurs it becomes the merchants responsibility to either accept or dispute the chargeback. Depending on the specific reason for the chargeback, the merchant will need to present evidence in their favor to the cardholder association. Should they decide in the merchant's favor then the customer will be charged a 2nd time with funds being credited back to the merchant. Regardless of who wins, the merchant should neither refund or charge the customer again as this will be handled by the associated banks.

How Does A Merchant Prevent Chargebacks?
Their are a few ways merchants can prevent chargebacks. Some of them are:

Quickly respond
- If a merchant doesn't respond to a chargeback in a timely manner, banks will simply issue the chargeback.
Easy to understand return policies
- Customers should easily and without confusion be able to understand your company's return policy. In addition, offering great customer service can help address any complaints the customer may have since they may resort to a chargeback as a last resort to get their money back.
Use CVV/CVC codes
- By asking a customer to give you their CVV/CVC codes (the 3 digit numbers on the back of their card) you will be assured they card is physically with them and not simply a stolen account number.
Talk to your customers
- Talk to your customers so they know the status of their purchases. This will make them less likely to dispute a purchase.
Even though chargebacks can be a hassle for merchants, their are ways to prevent them only if you understand what they are and why they occur. Putting into place good policies and practices can help your business prevent many of these chargebacks leading to happier customers and an increase in revenue.

A 2013 Call for Financial Literacy

A 2013 Call for Financial Literacy

April is a busy month honoring as it does everything from the Holocaust and the Armenian Genocide to autism, poetry, trees, and the earth, too. It is actually also a month devoted to financial literacy-an absolute must given the ongoing state of the American economy and the impact it's having on all of our lives.

Unfortunately, the federal government is the last place to look for an example of responsible money management. A quick perusal of Obama's new "budget" plan tells it all, calling as it does for a deficit reduction of more than $4 trillion over the next ten years-but new spending in fiscal 2014 of $3.8 trillion.

Couple that with the fact that, as of 12:28 p.m. on Saturday, April 13, the national debt stood at $16,814,506,044,148. Breathtaking, no? Just two days later on the 15th-tax day, no less--that figure had jumped to $16,821,032,503,046, and the numbers keep spinning onward.

Unfortunately, many of us, like the federal government, are swimming in debt. Indeed, the average U.S. household holds about $15,204 on their credit cards alone. Then add to that our average $148,818 in mortgage debt, and you end up with a whopping total of $848 billion owed on credit cards and $7.93 trillion on mortgages! Then too, 25% of us have no savings whatsoever, and just 11% of us with a 401(k) are putting enough money aside for retirement.

So much for role modeling... No wonder, then, that young people owe countless sums, too. Student loans alone have them in their grip with numbers that speak for themselves:

Average student loan debt: $33,005
Total student loan debt: $1,007.6 billion
Then add in what they also owe on their credit cards, cars, and mortgages, and it turns out that 20-somethings hold an average $45,000 in debt.

Some say part of the problem is that only 13 states require high schoolers to take a course in finance, despite evidence that those who do are likelier to pay their credit card bills on time and save, too. Moreover, while 45 states have adopted them, the Common Core State Standards do not address personal finance or economics whatsoever, instead focusing only on English and math.

As journalist and author Dan Kadlec explains, "Personal finance is 'reality' in the post-financial crisis world and should be regarded as the Fourth R. This is an emerging core subject area in schools throughout the world." For that reason, GW economics professor Annamaria Lusardi says, "We don't ask parents to teach math and physics and history. Why would we ask them to teach financial literacy?'

True enough; schools certainly have a responsibility to prepare their students for the real world of money management, but, at the same time, we parents do our children a huge disservice by keeping financial matters off the table, so to speak. Indeed, an ING survey reports that one-third of us are actually more prepared to talk to our kids about drugs, alcohol, sex, and, dating than we are money. The result: 87% of teens admitted that they know little about personal finance.

Additionally, a T. Rowe Price survey found that among parents:

77% said they don't always tell their children the truth about money matters;
50% admitted to regularly setting aside money to save or invest;
43% set savings goals;
32% avoid talking about their family's current financial situation with their kids.
Advises personal finance expert Howard Dvorkin, "Financial education must start from an early age. In the same way children learn about writing and reading, they should learn to manage money. It doesn't mean that at the age of 8, children should know how credit cards work, but they should be able to administer their allowance, and later on learn basic finances to avoid falling into debt once they obtain their first credit card."

In other words, we've got to do a better job and the younger the better. As author David Bach has suggested, the time is right when you hold up both a $1 bill and a $100 bill and your child knows which one to take. Start with an allowance and teaching your child to divvy up his "earnings" between spending, saving, and charitable giving. Add chores, too, to better prepare your child for real world work.

A recent online research study found that only 51% of parents give their kids an allowance, and 21% of them said they do so in recognition for chores. Meanwhile, just 47% use allowance as a way to teach about how to handle money irrespective of chores.

Another good idea is to gift with cash. It might not be as exciting as the latest Lego set or scooter, but doing so paves the way for youngsters to save for a dream list item and leave the rest untouched and accruing interest in the bank. Yes, you should also consider opening a bank account for your child, and Pennsylvania's Univest has just what you need. It's called the Eaglet Saving Account, and to get things started, the bank will deposit $10 in the account for you. Plus, no minimum balance is required nor is there a monthly fee.

Meanwhile, the Internet is a goldmine of financial resources for families. One of the most notable is DoughMain which offers "a set of integrated online applications, including a family calendar, chore tracker, and an allowance and rewards tool." It also offers three gaming websites, featuring "teacher-developed content including specially selected concepts in financial literacy for kids." And all that is just for starters.

Another site worth a look is tykoon.com, which calls itself "the premier financial tool for kids and their parents, empowering kids to develop stronger financial values with real money and real-life experiences-all under the safe and watchful of eyes of their parents." It simply doesn't get any better than that-plus it's also available as an app.

Also lending support is the FamilyMint™ Money Management Certification Program, "a complete step-by-step program for learning money management." As the site says, "Teach your kids to be good stewards of their money with this award-winning program. Only a few minutes a week results in lessons that will last a lifetime." Offering workbook and online versions, the program will help form and reinforce such essentials as:

Saving
Tracking money
Setting goals
Delaying gratification
Writing checks and deposit slips
Budgeting
Understanding interest
The bottom line: In the face of our deficit-bound federal government, stumbling economy, and all-around out-of-control debt, making money management a family priority is an absolute must. Ditto when it comes to saving for rainy days and retirement, too. In other words, teach your children well, and serve as an example of wise financial decision-making. Be sure, as well, to convey the difference between wanting something and actually needing it-and then behaving accordingly. No regrets.

Binary Option Basic: Everything That You Need To Know About This Trading Platform

Binary Option Basic: Everything That You Need To Know About This Trading Platform

Because of the recent global recession, people are become more sensitive to their resources. Nowadays, they are keen on finding ways to further strengthen and stabilize their financial resources. Office employees usually have another gig aside from their corporate jobs. Career women make use of their weekends to run blogs and online stores. Even young people are looking for way to earn some extra cash during their free time. However, there are individuals who can't afford to get a part-time job without sacrificing their performance in their full-time career. In such cases, binary option trading is your best bet.

Binary option trading is a fresh new approach to investing. It was first introduced in 2008 and has gain tremendous popularity because of its simplicity and practicality. The principle behind this platform is very much similar to standard trading but with an expiration time and strike prices. Below are some of the advantages of binary option:

Accessible - Almost everything that you need to do accomplish with binary options can be done online. You can basically manage your stocks from the comforts of your home, from the office on your break time or from your Smartphone.
Less risk - Traders are immediately informed about the possible profit and loses they might encounter. This allows them to plan ahead and lessen the risk of losing their investment.
Profitable - You are most likely to generate more profit with this kind of platform because profit is not based on the asset's price changes.
Simple - Trading in this platform doesn't require expert knowledge to get ahead. This allows first-time traders to get high payouts on their first few months of investing.

The Cyprus Banking Deal

The Cyprus Banking Deal

It is rare for calamities to strike Europe, but one certain problem has been reoccurring in the continent for almost five years now. No clear solution has been made yet, and although both the IMF and the EU itself are helping the countries which are experiencing financial troubles, it isn't enough to actually resolve the entire problem. If there is one country that is terribly affected though, it is Cyprus.

Undoubtedly, the Cyprus banking system was fine before they were hit by the financial crisis. There were problems here and there, but it was not to the point that they had to resort to borrowing huge amounts of money that they are not able to pay. However, their decline is also kind of expected. With their involvement in the Greek debt crisis, those who could help them are reluctant in doing so. Being that the financial crisis is too troublesome and hard to resolve, the Cypriot government resorted to a solution that its people do not agree on.

Bailout plans were made for the island, provided that the Cyprus Popular Bank, its second largest bank, closes down. All the uninsured deposits in the bank are either taxed or collected, but those who have insured deposits of less than a hundred thousand euros are not affected. Surprisingly, many Russians have accounts in the bank due to the fact that it is a tax haven, a state wherein taxes are levied lowly or none at all.

The United States is certainly not to be blamed for the world financial crisis. There are identifying factors on how it started, but it cannot be blamed on one country only. After all, they do not control the world economy. If there is something that caused the Cyprus economic failure, it would be the tax haven. It does not bear all the responsibility though, as there are other factors on why it resulted to failure. There is also the fact that the country helped Greece by loaning them huge amounts of money that are yet to be returned.

At this point, there is a need for emergency loans to be given to Cyprus. As they experience financial troubles though, there are only a few who are willing to lend them the money; if they agree, then the interest rate may be too high.

The Cypriot government is currently ensuring that things would turn out for the better. Aside from the loans they have taken, they have also sold their extra gold, and although the amount was not able to pay everything and help all the Cypriots, it managed to alleviate the painful reality of economic problems in the country. The high unemployment rate even adds to the problem, as it continues to plummet the country with debts that are harder to repay. The wrong decisions made by their government had ensured the crisis, and it seems like the country will have to face more difficulties before finally being able to get by the economic crisis.

Terrorism and Your Money

Terrorism and Your Money

The war on terrorism has been pushed deep into the financial system. The CIA and the FBI have specific departments set up to watch the money flows and activities of certain organizations. They can easily seize banks accounts and funds if they feel, or can prove for some reason that the money is being used for plans or attempts to strike a target. It would seem that this is probably a good thing, at least on the surface.

The question that then arises is what happens when the use of these powers are pushed too far? Are innocent law-abiding people being caught up in this system, and what ramifications does that have on the banking system?

Now we all are familiar with the saying "I have nothing to hide," or "If you're not with the program you are with the terrorist." Fine, we get it. Nobody wants to be with the terrorists or even give the appearance that they don't want to help, but what about restricting you access to your hard-earned money.

Think it can't happen, think again. It is happening now as we speak and has been for some time. Just recently, a long-standing influential account holder (name withheld for obvious reasons) that was well-known to his bank tried to remove money in the form of gold from a bank in Switzerland. He was told that anything above 200,000 Swiss francs could not be removed from the account because it had to do with anti-terrorism and bank laundering precautions. What?

There are other examples of people removing smaller amounts of money for cash purchases of things like automobiles that are being asked what they need it for, or what they are going to do with the money. Really?

The bank never asked, nor did they care where it came from when it was deposited. However, when they go to retrieve those funds at a later date, a cast of suspicion is thrown over them. Does that seem right? Are we terrorists by default because we want our money in a large sum for something?

A lurking concern should be if the banks and other financial institutions should find themselves in a situation that they are over leveraged or insolvent, hell let's just call it what it is BROKE. Will they use these laws that are now on the books to keep you separated from the funds you have deposited with them?

At the moment it does not seem to be a wide-spread problem, but as always, laws tend to creep into different areas and can have huge unintended consequences from their original purpose or worse yet can be used in a way that was never intended in the first place by people with less than honorable goals.

The next question that arises is what kind of backlash could this have on our financial institutions? If the public starts to feel that their money may not be available to them or worse could be seized. Will they decide to choose another method of safeguarding those funds? The sales of home safes have increased as much as 60% in just the last year alone and continue to rise every day. Are the Financial institutions of the world shooting themselves in the foot?

Each day, if you look back from where we came from say thirteen years ago, it would appear that the terrorist goal to restrict are freedoms around the world has been extremely successful. And if you don't count just physical attacks alone, I would have to say from all perspectives they have won. We are less free then we were, and are now looked at as suspicious from our own governments as we are slowly acclimated to a police state, truly a sad state of affairs.

4 Important Tips If You Are Chased For an Old Debt

4 Important Tips If You Are Chased For an Old Debt

Here is the story. You have a debt you can't repay. The lender tires of trying to recover it and sells your bad debt to a collection agency. They now pressure you, then offer you a heavily reduced amount to encourage you to finalise the account, which you do. Years later you receive a call to say you still have an outstanding debt that needs to be paid... what do you do?

This has recently happened to a family friend of mine, so based on their experience, please consider the following four tips to help you work through the issue.

1. Do not agree to owing the debt

In Australia you may have a defence against a debt if:

a long period of time has passed since you last made a payment or confirmed the debt in writing
no court action has been taken to recover the debt in the meantime.
Generally, you can raise this as a defence if 6 years have passed since you last made a payment or confirmed the debt, and there is no court judgment against you. If this is the case, recovery of the debt through the courts is said to be 'statute-barred' and the courts will not enforce the debt. If there is no court judgment against you and you make another payment, the clock will start again and generally you will not be able to rely on this defence anymore.

If you think a debt collector is contacting you about a debt that is 'statute-barred', you should get legal advice before you make any payment or confirm the debt in writing.

2. Obtain a copy of your Credit Report

In Australia, you can obtain a free copy of your personal credit report by completing an online form and providing some identification through Veda Australia. You must check your report and;

look for what the original lender listed on your report. You can only have one listing per debt, so if there is a default noted, the collection agency can't list another despite their threats.
see if anyone has accessed your report without your consent. My friend had his file accessed by the collection agency the month before they began calling him, and he is certain he gave no written or verbal authority. He is pursueing this currently now.
3. Keep all your paperwork

My friend was certain he received a letter confirming the final payment years ago, but on searching his archives, he was unable to locate it. This is an important lesson. You should always keep all correspondence (no matter how old) that confirms a debt has been repaid. Without being able to prove payment by receipts, bank or credit card statements you can still be liable to pay the debt.

4. Get legal advice

This depends greatly on your individual situation, but given there are free legal advice centres throughout Australia, it is certainly worth discussing. Many people feel pressured by collection agencies and do not understand their rights. There are strict laws governing the conduct of these agencies, such as unreasonable harassment, which legal advisors will be able to determine for you.

I certainly don't wish this situation on anyone, but if it does happen to you, I hope these tips point you in the right direction to fairly resolve it.

PCI Compliance: What Your Business Needs To Know

PCI Compliance: What Your Business Needs To Know

Accepting credit and debit cards for a business is a great way to open up revenue streams for a company. However, this doesn't come without risks. From hackers, to malware, to dishonest employees, merchants face a number of threats when it comes to the credit and debit card information they use from their customers. However, merchants need not fear when it comes to identifying safety precautions to keeping their customers financial information safe.

Known as Payment Card Industry Data Security Standard (PCI DSS), these standards were developed to help merchants, as well as those who help in processing payments like banks and merchant service providers, set up a first line of defense against unwanted data breaches. These standards were formed to provide basic security precautions by establishing policies, procedures, network and software architecture, as well as additional measures to minimize the risks of your customers financial information from being compromised. So what does a merchant actually have to do to become PCI compliant?

Depending on the amount of transactions a merchant conducts, the requirements to become PCI compliant can vary placing you on a specific level of compliance. They are:

Level 4 - If your business does less than 20,000 eCommerce or less than 1 million physical transactions, you simply need to complete an annual risk assessment usaing an SAQ or conduct quarterly PCI scans.

Level 3 - If your business does 20,000 - 1,000,000 transactions per year, you will need to complete an annual risk assessment using an SAQ and conduct quarterly PCI scans.

Level 2 - If your business does 1 - 6 million transactions per year, you will need to complete an annual risk assessment using an SAQ and conduct quarterly PCI scans.

Level 1 - If your business does in excess of 6 million transactions per year, you will need to conduct an annual internal audit and conduct quarterly PCI scans.
Even when your business becomes PCI compliant, it is still an ongoing process. However, think of it like a 3 step process in the following manner:

Analyze for any vulnerabilities your business may have that could make it vulnerable to a data breach.

Fix any vulnerabilities your business may identify. If needed, do not store any cardholder data unless necessary until these issues have been fixed.

Report any vulnerabilities to your merchant services provider and card brands by submitting compliance reports and any required validation records.
Even though at times it may be overwhelming for a merchant to combat the theft of cardholder data, security standards like PCI are available to help businesses like yours. But remember that PCI compliance is not just smart but also required.

My Old Notes on Trading II

My Old Notes on Trading II

After making a nice push in the morning do not be afraid to stop trading- and if you do decide to trade- pick your spots better and have a real plan instead of doing random trades

If you are going to trade a volatile stock like PD, do not protect your PL when you trade or else the risk your taking on is greater than your reward

Do not base your trades on news that you read. If the stock shows you otherwise then trade the stock accordingly instead of sticking with a bias. Use the news as a guide but do not base trades on it unless it is confirmed by the stock itself

Resist the urge to trade stocks that you have not been carefully watching

If you make a good trade in one direction and get out successfully, then try to get back in on the same side and it doesn't work- do not continue to do it- instead, wait for the stock to show you that the trend is continuing and then get involved

Use volume as an indicator of overall market activity

When volume is lower than usual it means that institutions are not active and stock moves will trend less and have little follow through

When volume is lower be quicker to scalp and do not get involved as much because although the futures may be swinging the stocks will not react and it will cause you to write tickets and lose money by paying the spread only causing frustration

Track the volume of the stocks you follow for periods of the day- such as how many shares until 11, until 12, etc.

On slow days, be quicker to switch to another stock/sector. Don't let pride hurt your trading

On slow days, if you get off to a bad start and then make half of it back- take that as a positive and stop trading... However, if the market is active and you get burned early, refocus and carry on trading normally

If you lose on your first few trades take a step back and understand what you are doing wrong instead of repeating the same thing over and over

Do not flip in between stocks- if you are trading poorly in one, then switch- if you succeed in the new stock do not go back to the other one unless you think you have reevaluated it enough to be able to trade it successfully

Do not make trades hoping for a miracle by getting into massive size for no reason

My Old Notes on Trading

My Old Notes on Trading

Do not sit down and enter a position right away- see what is going on first.

Do not fight the trend- wait for indicators of a reversal such as increase in volume, technical indicators- double top or bottom.

After a successful trade and the stock settles down- wait for it to show you something before entering into the same position as before because you think you are going to miss the "real move".

Do not initiate a position at the resistance or support- instead wait for it to break the level then get involved ( do not buy hole numbers or other such levels unless you are adding to a position).

If the market is quiet be more selective about trades to enter because you will get jigged out and end up paying spreads and not being confident enough to hold the position even if you are right.

Make each trade count- do not enter a position without knowing why you are involved- have a reason: market movement, tops, bottoms, increase in volume, levels.

Do not chase a stock as it is moving unless you are adding to an established position; instead, wait for the pullback and when the stock settles down and it looks like a promising trade then get in.

Do not get frustrated and try to fight a trend and keep shorting into an up move or vise versa and then decide to flip especially when nothing is going on- be selective, keep your cool.

Try to choose one way and stick with it instead of going back and forth, but if you are wrong do not hesitate to rethink your strategy.

If you are playing a stock based on hidden buying and selling- not in the book- then be more patient. Take one long position from a good entry point and hold onto it rather than constantly getting in and out- churning.

Do not trade if you are in the wrong frame of mind.

If you start off the month on a bad note do not try to make it back in one day... have one solid day and build off that.

Identify a trend in the market and the sector and stick with it until you see a real reversal- use the pullback as entry points of following the trend instead of thinking every small move up or down is the beginning of a reversal.

When choosing tops or bottoms, be quicker to hit out when things go against you because the trend is still holding.

Use the 50 day EMA to identify trends in the stock- it will act as support or resistance and once it breaks to the other side the stock should start to move.

Stock selection is key- do not get hung up on one stock if you are unable to make money in it.

Top Tips On How To Pick A Forex Broker

There are many Forex brokers vying for your potential business, as a simple Google search will show you. However, in recent years there have been many cases of scams and brokers who are more concerned with their profit than client service, so it behoves you to take care when picking a Forex broker to use.

One of the first things that you can check is where the broker is located and whether it is regulated by the appropriate government authorities in that country. The Internet makes using brokers from remote locations as easy as using local brokers, and this is not necessarily to be avoided. However, you have to realize that if a catastrophic situation arises, any legal remedies will be more difficult and expensive to pursue.

When the broker is regulated, it is easier to find more information about the company. How long has the company been in business, and what is the experience of the principals? There may have been issues in the past with either the company or its officers, and you should be able to trace these through the regulating authorities. Having a clean bill of health does not mean that the company will not collapse or commit fraud, but any identified problems will certainly serve as a warning to you.

Companies are required to provide a risk disclosure to every customer, and while much of this is standard, it should include the total number of accounts as well as figures on what percentage were profitable. If a company has a high percentage of losing customers that suggests something in their operation may not serve the trader's best interests.

Be aware that there are different ways in which brokers can operate. Some brokers offer a standard spread regardless of the time of day, and this means that they are "making the market", and in some cases may themselves be taking the other side of the trade from you. This is not a reason to reject them, but you should be aware of the way they are operating. In fact, standard spreads give you a way of easily comparing the costs involved with using different brokers.

The Internet is useful for many things, and you will find many reviews and user comments for every Forex broker. These should be treated with caution, if not suspicion. A lot of the reviews come from affiliate sites run by entrepreneurs who will receive a commission if you sign up on the basis of their recommendation, and therefore they are likely to declare "on balance" that the broker is worthwhile.

Forum comments can also be seeded by the broker himself or his rivals, and unless you know the commentator, you will be unable to tell if the comments can be trusted, whether favourable or unfavourable.

What Is FDIC?

The term FDIC is one most people have heard of but may not completely understand. FDIC stands for the Federal Deposit Insurance Corporation. The primary duty of this agency is to protect consumers if a bank fails and insure their money up to a certain amount. The following information describes exactly what the FDIC is, how it works, and the history behind the agency.

History of FDIC Insurance

FDIC Insurance came into being primarily because of the Great Depression and the worldwide economic downturn experienced in the 1930s, Money in banks was not insured and because banks normally kept only a small percentage of their deposits in reserve, customers lost money during bank runs. The FDIC was created on a temporary basis by the Banking Act of 1933. The Banking Act of 1935 made the agency permanent and redefined how the organization was to work.

The FDIC

The FDIC is a United States government corporation and operates as an independent agency. The agency is located in Washington D.C. In general, checking accounts, savings, and CD's are covered by the FDIC. If a bank would fail, the FDIC would step in and pay the account holder up to $250,000. While institutions are not required to be covered by the FDIC, most are to stay competitive. Institutions that are insured are required to place signs that state the deposits are backed by the full faith and credit of the United States Government. The FDIC is not funded by the taxpayer, but by premiums that the banks pay for deposit insurance coverage. It also receives funding from earnings from investments in United States Treasury securities.

How the FDIC Works

The FDIC guarantees each depositor's account up to $250,000. This guarantee applies to each ownership category for each deposit. There are several distinct ownership categories that qualify to be insured. Government accounts, corporations/unincorporated association accounts, employee benefit plans, revocable/irrevocable trust accounts, and certain IRA's are all specific categories that can be considered distinct ownership. Joint accounts with equal rights for withdraw can also fall into this category. Finally, single accounts that don't fall into any of the previous sections can qualify as a distinct ownership category.

The FDIC does not, however, insure credit unions. The National Credit Union Administration (NCUA) secures most credit unions. There are certain products, even if purchased through a financial institution, that are not covered by FDIC. These include mutual funds, money market funds, annuities, life insurance policies, stocks, and bonds. The contents in a safe deposit box are not covered by FDIC.

In addition to insuring certain accounts, the FDIC oversees various activities at banks to help the institutions run more effectively. The FDIC also makes sure the banks follow consumer friendly laws. If a bank does fail, the FDIC will be there to make sure the proper steps are taken to repair whatever damage has been done. This often includes finding another bank or financial institution to take over the bank's loans and deposits.

The Elements of Mortgage Processing

The mortgage industry is facing challenges of increased regulations and business instability. Entrepreneurs are looking for new and improved methods to achieve the business objectives in a better manner. In order to better the mortgage process, service providers are ready to extend their help. By collaborating with a mortgage service provider, organizations can reduce the total loan processing time, manage or control the costs better and enhance the service level.

Why do the entrepreneurs need an outsourcing firm?

The third-party outsourcing firms have years of experience and knowledge in this domain. With IT integrated solutions and proven skills, service vendors deliver measurable outcomes. This results in higher business scalability, drives sales conversion and increases the process quality and efficiency. Besides, the third-party vendors offer a wide variety of loan services.

Mortgage process service offerings:

• Underwriting research
• Pre-foreclosure
• Sales
• Foreclosure
• Loan modification
• Data management
• Analytics
• Collections
• Customer service
• Loss mitigation
• Bankruptcy, fraud & risk management

An outsourcing firm enables the financial institutions to thrive for success by establishing a certain environment and operational levers to tackle the issues of the industry such as capacity, regulations and cost.

In order to improve the overall efficiency of a business, service vendors standardize and structure processes. By assessing the loan processing functions of an organization, service providers identify the operating areas which can be outsourced. Entrepreneurs consider outsourcing as a strategic step to increase business productivity & reduce costs. Service providers undertake end to end credit analysis and other similar functions.

The Business Advantage

Service vendors have an in-depth knowledge of the market regulations and required licenses. The outsourcing team of dedicated mortgage professionals helps global clients, across various offshore engagements. In addition, the outsourced mortgage professionals are trained in end-to-end loan processing, documentation & underwriting, risk management & closure, etc.

Outsourcing firms have their own loan compliance department, that keeps an eye on the market regulations and licenses. Outsourced loan research team keeps the group updated with the trends, market dynamics and current issues in the industry. Besides, there are a lot of advantages of outsourcing a loan service provider.

• Flexible engagement model that caters for all loan transactions
• Integrated solutions with back and front office support
• Transaction based pricing options
• Specialized knowledge on several financial segments

Service vendors offer business consulting as well as planning solutions to consolidate and streamline operations, which ultimately reduces the cycle time.

Service vendors help in reducing capital expenditure. They even empower organizations to leverage the technology-oriented outsourcing services, automate processes, reduce errors as well as enable seamless operations.

Reaching Financial Freedom

Studies by the U. S. Department of Health and Human Services reveal that 95% of Americans do not attain financial independence by the time they reach age 65 and therefore are dependent upon the government or they must continue working until they die.

A survey of financial experts suggests that Social Security is considered to be a flawed system. According to the Social Security Administration, recipients currently receive, on average, 43 percent of pre-retirement income and that is projected to fall below 30 percent if additional funding is not found.

So now you've come to the realization that you desire much more from life than employment has to offer and are no longer satisfied with just a J.O.B. that leaves you (Just Over Broke). It's a sad existence to live life just for the weekend, because that means you're only living on the weekend. Monday through Friday (sometimes Saturday too) you belong to your boss.

Isn't it ironic how we put all of our experience, momentum, tenacity, resourcefulness, and expertise into our job producing tremendous profits for the employer and we accept our measly paycheck as if it adequately compensates us for our accomplishments?

Don't misunderstand what I'm saying; there's nothing wrong with making an honest living but ask yourself, when you're working for someone else, are you honestly living or merely existing? It seems that it would make much more sense to put all of those energies into something that would guarantee a much more fulfilling and abundant life.

When you're working for yourself no matter how many hours you put in you have a sense of satisfaction and gratification. Working a job only brings you a salary-leaving you in the 'rat race' and even if you win the race you're still a rat! Make no mistake about it becoming successful in business will take some hard work but "The only place success comes before work is in the dictionary".

According to USA Today, almost 96% of all adults ages 25-44 want to own their own business. Did you know that the Small Business Administration states that 70% of all new businesses last a minimum of 2 to 5 years? Furthermore, according to the Labor Department, Baby Boomers account for 54% of successful self-employed persons.

Information from 'Home Business Magazine' and the U.S. Labor Department states that a new home-based business opens every 11 seconds and home-based businesses generate $427 billion in revenue.

One of America's most influential authors refers to home-based businesses as the 'Smartest Success Strategy". Successful people take a course of action that coincides with their belief or passion.

SISTEM PENGENDALIAN INTERN

SISTEM PENGENDALIAN INTERN (SPI) - Basichttp:

Secara umum, Pengendalian Intern merupakan bagian dari masing-masing sistem yang dipergunakan sebagai prosedur dan pedoman pelaksanaan operasional perusahaan atau organisasi tertentu.

Sedangkan Sistem Pengendalian Intern merupakan kumpulan dari pengendalian intern yang terintegrasi, berhubungan dan saling mendukung satu dengan yang lainnya.

Di lingkungan perusahaan, pengendalian intern didifinisikan sebagai suatu proses yang diberlakukan oleh pimpinan (dewan direksi) dan management secara keseluruhan, dirancang untuk memberi suatu keyakinan akan tercapainya tujuan perusahaan yang secara umum dibagi kedalam tiga kategori, yaitu :

a) Ke-efektif-an dan efisiensi operasional perusahaan
b) Pelaporan Keuangan yang handal
c) Kepatuhan terhadap prosedur dan peraturan yang diberlakukan

Suatu pengendalian intern bisa dikatakan efektif apabila ketiga kategori tujuan perusahaan tersebut dapat dicapai, yaitu dengan kondisi :

a) Direksi dan manajemen mendapat pemahan akan arah pencapain tujuan perusahaan, dengan, meliputi pencapaian tujuan atau target perusahaan, termasuk juga kinerja, tingkat profitabilitas, dan keamanan sumberdaya (asset) perusahaan.

b) Laporan Kuangan yang dipublikasikan adalah handal dan dapat dipercaya, yang meliputi laporan segmen maupun interim.

c) Prosedur dan peraturan yang telah ditetapkan oleh perusahaan sudah taati dan dipatuhi dengan semestinya.


Struktur Pengendalian Intern

Sruktur pengendalian intern terdiri dari 5 (lima) komponen, yaitu :

(1). Lingkungan Pengendalian
Merupakan dasar dari komponen pengendalian yang lain yang secara umum dapat memberikan acuan disiplin. Meliputi : Integritas, Nilai Etika, Kompetensi personil perusahaan, Falsafah Manajemen dan gaya operasional, cara manajmene di dalam mendelegasikan tugas dan tanggung jawab, mengatur dan mengembangkan personil, serta, arahan yang diberikan oleh dewan direksi.

(2). Penilaian Resiko
Identifikasi dan analisa atas resiko yang relevan terhadap pencapaian tujuan yaitu mengenai penentuan “bagaimana resiko dinilai untuk kemudian dikelola”. Komponen ini hendaknya mengidentifikasi resiko baik internal maupun eksternal untuk kemudian dinilai. Sebelum melakukan penilain resiko, tujuan atau target hendaknya ditentukan terlebih dahulu dan dikaitkan sesuai dengan level-levelnya.

(3). Aktivitas Pengendalian
Kebijakan dan prosedur yang dapat membantu mengarahkan manajemen hendaknya dilaksanakan. Aktivitas pengendalian hendaknya dilaksanakan dengan menembus semua level dan semua fungsi yang ada di perusahaan. Meliputi : aktifitas-aktifitas persetujuan, kewenangan, verifikasi, rekonsiliasi, inspeksi atas kinerja operasional, keamanan sumberdaya (aset), pemisahan tugas dan tanggung jawab.

(4). Informasi dan Komunikasi
Menampung kebutuhan perusahaan di dalam mengidentifikasi, mengambil, dan mengkomukasikan informasi-informasi kepada pihak yang tepat agar mereka mampu melaksanakan tanggung jawab mereka. Di dalam perusahaan (organisasi), Sistem informasi merupakan kunci dari komponen pengendalian ini. Informasi internal maupun kejadian eksternal, aktifitas, dan kondisi maupun prasyarat hendaknya dikomunikasikan agar manajemen memperoleh informasi mengenai keputusan-keputusan bisnis yang harus diambil, dan untuk tujuan pelaporan eksternal.

(5). Pengawasan
Pengendalian intern seharusnya diawasi oleh manajemen dan personil di dalam perusahaan. Ini merupakan kerangka kerja yang diasosiasikan dengan fungsi internal audit di dalam perusahaan (organisasi), juga dipandang sebagai pengawasan seperti aktifitas umum manajemen dan aktivitas supervise. Adalah penting bahwa defisiensi pengendalian intern hendaknya dilaporkan ke atas. Dan pemborosan yang serius seharusnya dilaporkan kepada manajemen puncak dan dewan direksi.


Kelima komponen ini terkait satu dengan yang lainnya, sehingga dapat memberikan kinerja sistem yang terintegrasi yang dapat merespon perubahan kondisi secara dinamis. Sistem Pengendalian Internal terjalin dengan aktifitas opersional perusahaan, dana akan lebih efektif apabila pengendalian dibangun ke dalam infrastruktur perusahaan, untuk kemudian menjadi bagian yang paling esensial dari perusahaan (organisasi).

Istilah-istilah penting dalam Pengendalian Intern

Kondisi Terlaporkan (Reportable Condition)
Istilah lainnya adalah Defisiensi Signifikan, kedua istilah ini dipergunakan dalam mendefinisikan suatu kondisi yang defisiensi secara signifikan di dalam rancangan atau operasional atas pengendalian intern yang mempengaruhi kemampuan perusahaan dalam melakukan pencatatan, proses, mengkompilasi dan melaporkan data keuangan yang konsisten dengan asersi manajemen di dalam laporan keuangan perusahaan. Defisiensi signifikan yang luas dapat mengakibatkan Kelemahan Material (Material Weakness).

Kelemahan Material (Material Weakness) 
Didefinisikan sebagai kondisi yang terlaporkan dimana rancangan atau opersional dari salah satu atau lebih pengendalian intern-nya tidak mampu mengurangi atau menurunkan suatu resiko ringan atau salah penyajian yang disebabkan oleh kesalahan atau penggelapan yang jumlahnya relatif material kaitannya dengan laporan keuangan yang jika di audit akan dapat ditemukan, akan tetapi tidak terdeteksi dalam periode yang sama oleh pegawai dalam pelaksanaan pekerjaan secara normal.

Kompensasi Pengendalian (Compensating Control)
Ada beberapa perusahaan yang karena skala usahanya memang termasuk kecil, mengakibatkan perusahaan tidak memungkinkan untuk melaksanakan pengendalian intern yang sederhana sekalipun (misalnya : pemisihan tugas atau fungsi). Adalah penting bagi manajemen untuk melakukan kompensasi terhadap bagian yang pengendaliannnya lemah atau tidak dapat berjalan untuk suatu kurun waktu tertentu. Dalam hal internal manajemen telah melakukan kompensasi untuk menutupi kelemahan pengendalian tersebut, internal auditor seharusnya tidak melaporkan kelemahan tersebut sebagai material weakness, bahkan reportable condition sekalipun, hendaknya disesuaikan dengan sekala perusahaan.


Keterbatasan Sistem Pengendalian Intern

Penting untuk dipahami bahwa : Sistem Pengendalian Intern yang efektifTIDAK MEMBERIKAN JAMINAN ABSOLUT akan tercapainya tujuan perusahaan. Secara sederhananya dapat dikatakan bahwa SITEM PENGENDALIAN YANG HANDAL TIDAK BISA MENGUBAH MANAJER YANG BURUK MENJADI BAGUS. Akan tetapi Sistem Pengendalian Intern yang handal dan efektif dapat memberikan informasi yang tepat bagi manajer maupun dewan direksi yang bagus untuk mengambil keputusan maupun kebijakan yang tepat untuk pencapaian tujuan perusahaan yang lebih efektif pula.

SISTEM PENGENDALIAN INTERN YANG EFEKTIF BUKAN MERUPAKAN JAMINAN AKAN KESUKSESAN BAHKAN KELANGSUNGAN HIDUP PERUSAHAAN SEKALIPUN.
SISTEM PENGENDALIAN INTERN BERFUNGSI SEBAGAI PENGATUR SUMBERDAYA YANG TELAH ADA UNTUK DAPAT DIFUNGSIKAN SECARA MAKSIMAL GUNA MEMPEROLEH PENGEMBALIAN (GAINS) YANG MAKSIMAL PULA dengan pendekatan perancangan yang menggunakan ASAS COST-BENEFIT.

Suatu sistem handal macam apapun selalu memiliki celah kelemahan. SISTEM PENGENDALIAN INTERN pun bisa dimanfaatkan oleh personil tertentu untuk kepentingan pribadinya dengan mengeksploitasi kelemahannya.


Pihak-pihak Yang Bertanggungjawab Terhadap Sistem Pengendalian Intern

Semua pihak di dalam perusahaan bertanggung jawab terhadap pelaksanaan sistem pengendalian intern. Namun demikian, secara struktural pihak-pihak yang bertanggung jawab dan terlibat langsung dalam perancangan dan pengawasan Sistem Pengendalian Intern meliputi :

Chief Executive Officer (CEO)
Chief Financial Officer (CFO)
Controller / Director Of Accounting & Financial
Internal Audit Comitee

Catatan :

Jika tidak ada hambatan, saya akan membuat satu contoh MODEL RANCANGAN SISTEM PENGENDALIAN INTERN yang mudah-mudahan bisa dijadikan contoh dalam penyusunan Sistem Pengendalian Intern maupun perancangan alat ujinya. Tetapi ini butuh waktu, mungkin sedikit agak lama.

In the meantime, saya akan tetap memposting artikel-artikel maupun tips-tips AKUNTANSI, KEUANGAN dan PERPAJAKAN yang mudah-mudahan akan tetap LEBIH ADVANCE, sekaligusAPLIKATIF.