Tommy Shek

  If you’ve ever wondered who pulls the strings of the economy, or who stands guard over the stability of the financial system, then you’re about to uncover one of the most influential entities in the world of finance –   The Federal Reserve . Often cloaked in a veil of complex jargon and misunderstood by many, the Federal Reserve, or “the Fed” as it is often called, plays an essential role in the U.S. and the global economy. This article aims to demystify this financial powerhouse, highlighting its significance and explaining its key functions. The Federal Reserve is the central banking system of the United States, established on December 23, 1913, with the enactment of the Federal Reserve Act. It was created in response to a series of financial panics, particularly the panic of 1907, with the purpose of providing a safer, more flexible, and more stable monetary and financial system. Today, it stands as an independent entity within the government, playing an unparalleled role...

  The world of investing can often seem like a complex and inaccessible landscape to those peering in from the outside. It’s a realm filled with jargon-heavy language,   complex financial instruments , and intimidating market charts. However, understanding the key tenets of investing—stocks, bonds, and mutual funds—is essential in today’s world.  Investments can offer a way to grow your wealth, provide for a secure retirement, fund your children’s education, or even meet short-term financial goals. Investing also allows you to put your money to work and potentially gain a higher return compared to just storing your money in a   traditional savings account . In this article, we aim to demystify the world of investing for you. We will explore the basics of stocks, bonds, and mutual funds, provide a guide to get you started, and delve into future trends that are shaping the investment landscape. Whether you’re a novice or seasoned investor, there’s always something new ...

In the high-stakes game of the corporate world, Mergers and Acquisitions (M&A) emerge as powerful moves on the  chessboard, reshaping industries and redefining market leaders. Beyond the headlines and multi-billion-dollar deals,  there's an unsung hero that ensures the success of these ventures: accounting. It's not just about crunching numbers; it's  about understanding the essence of business integrations, carrying out meticulous financial due diligence, and driving  strategic growth. Whether it's a seasoned conglomerate acquiring a budding start-up or a cross-border merger changing  the global business landscape, every M&A story is underpinned by rigorous accounting practices. These practices dive  deep into the realms of corporate restructuring, accurate business valuation, and the seamless closures of deals. Navigating the Accounting Aspects of M&A Identifying and Valuing Assets and Liabilities When two companies decide to merge or when on...

  Just as the fall of a single domino can set off a chain reaction, so too can our financial decisions have a cumulative impact on our future. Each choice we make, be it small or significant, can ultimately shape our financial trajectory, leaving lasting imprints on our financial well-being. This article will explore the intricacies of this   “Domino Effect ” in the context of personal finance. The journey we’re about to embark on will encompass a step-by-step guide to making wise financial decisions, revealing the powerful repercussions of our choices. We will delve into practical lists that bring light to the outcomes of both sound and poor decisions, shedding light on what we can do today to positively influence our financial tomorrow. By traversing the interconnectedness of personal finance with the broader economic landscape, we’ll paint a comprehensive picture of the ripple effects our financial choices create. Making Wise Financial Decisions Identifying Financial Goals:...

  Have you ever wondered what keeps a business ticking? How do companies track their income and expenses? Or perhaps, you’ve heard the term ‘ bookkeeping ‘ thrown around in business classes but found it hard to grasp? This article is here to guide you through the labyrinth of bookkeeping, shedding light on its nuts and bolts, and highlighting its pertinence in your journey as a student. Bookkeeping, at its core, is the systematic recording and organizing of financial transactions in a business. It forms the backbone of any financial system, and its function isn’t confined to the realm of corporations alone. From managing your personal expenses to running a small-scale business or a fundraising event in college, the principles of bookkeeping can be applied everywhere. As students, understanding the basics of bookkeeping not only equips you with an essential life skill but also opens up a plethora of career paths in finance, business, and entrepreneurship. So, whether you’re majoring...

  Financial literacy   may not be a part of your college curriculum, but its importance cannot be overstated. From managing your daily expenses to planning for your future, sound money management skills are vital in every stage of life. As a student, you may be experiencing financial independence for the first time, and with it comes the necessity of understanding the basics of budgeting. In this article, we aim to equip you with the knowledge and tools necessary to manage your money effectively and “Budget Like a Boss”. Crafting Your Student Budget Budgeting   is simply about understanding your income and expenses and planning accordingly. It can help you avoid financial stress and pave the way for a secure future. Let’s break it down into simple steps: Identifying Your Income Sources: Scholarships, Part-Time Jobs, Parental Support Your first step in creating a budget is to identify all of your income sources. This may include scholarship money, earnings from a part-time...