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My dream is to work as project manager, director or something of that sort for a non-profit organization. Human rights is one of my favorites, but is not just closed to that. Does anyone know what would be a good specialization for a business management degree? Something to specialize in that would help me land a job in that Field? For instance, there is sociology, psychology, biology etc, etc.
Appreciate any answers with some real insight. Thanks.

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Dock Murphy


For most home business owners and many small business operators, their idea of a profit and loss statement, P&L in business parlance, may be oversimplified. If they had more income than expenses, they made a profit. If not, they had a loss and will usually try to find more business or increase prices to turn the trend around. By better understanding their own business’s profit and loss statement, they will be able to determine not only how much money is earned and spent, but also track their expenses to gain better control of the finances.

The first thing to remember is that there is a difference between a budget and a profit and loss statement. Income is projected and expenses are budgeted, based on the income projection. If the income does not meet the forecast, certain expenses will need to reigned in to make the profit and loss statement come in on the plus side at the end of the month.

The business’s P&L can be as simple or as complex as you choose to make it, but the more tracking of expenses that you do, the better handle you can have on what needs to be done to control your profit amount. For example, you can simple include a line in your expense column pertaining to utilities and lump them all together. However, to get a better picture of where your money is going, you will want to break them down into subcategories such as electric, gas, water and telephone.

By keeping them separate you may see a need to bring telephone costs under control by eliminating unnecessary lines that seldom ring or find ways to save on your electric costs. If you deduct for business use of your home, you will have a pretty good idea of what your costs for utilities, rent, insurance and other expenses will be based on the percentage of your home’s cost deducted for business use of the home.

One of the first things to budget, which has the greatest impact on your P&L will be income. Whether you sell a product or service, you will need to track all forms of income, as well as allow for deductions due to refunds and rebates and any discounts offered as customer incentives. Tracking this on the P&L is fairly easy, as if the money comes into the business it is considered income. The source can be itemized as well to help indicate how you may go about increasing income.

Expenses in the budget can be calculated as a fixed dollar amount or a percentage of income, which usually provides greater control over spending. Itemized expenses on the P&: can also make filing income taxes easier as you will have a monthly record of how much money came into the business as well as where every dollar went that left the building.

CMOE Team


What is Management Coaching’s Weakness?

You have just finished a talk on how an employee must spend less time socializing and more time elevating her work in a coaching meeting. You’ve had this discussion before, albeit casually, and as a result, there has been no change. You have sat her down in a formal coaching meeting, and she did improve – for approximately a week or so. You hope that this time, you’ve succeeded in driving your point across.

The most critical step in management coaching is convincing an employee to agree there’s a need for improvement. Typically, this is a step that’s not well-done or understood, making this situation very familiar and hampering permanent change.

I see management coaching as an interpersonal method between a supervisor and a subordinate in which the manager helps the subordinate reevaluate his or her work while fostering mutual trust. Feedback is given by a manager or superior to address a specific issue or circumstance. Coaching focuses on a trend in behavior as well as techniques for advancement and development.

Making growing and learning experiences out of events and circumstances is an art associated with coaching. Examples include missing numerous deadlines in a period despite being informed that meeting deadlines is essential, continuing to arrive late for work after being told that tardiness is not acceptable, and continuing to interrupt others in spite of receiving feedback that such behavior is not appropriate. “Chewing out” isn’t management coaching’s goal. Though it can work, it often just worsens the issue. Such techniques tend to make employees passive-aggressive. They will walk the line and do nothing more or less than what’s told.

Typically, a management coaching session ought to take place only after an employee grasps totally what is demanded and has received feedback at least once that his or her performance is not what it could or should be. However, there are certain situations wherein a coaching meeting should be made immediately before a trend evolves. For example, a manufacturer demands that any safety violation has to be addressed in coaching.

The crucial elements involved in coaching are two-way conversations, certain coaching skills and tactics, a series of interdependent steps or goals, courage and conviction, and, of course, a sense of humor.

Helping a subordinate understand the need to improve performance and encouraging his dedication to make it permanent are the 2 primary goals of the management coaching method. The most crucial factor is getting a subordinate to understand and agree that there is a need to change his performance.

Victorino Q. Abrugar


Every businessman is constantly looking forward for a profit. They are carefully avoiding their business costs and expenses to exceed their revenues. In finance, profit is what we get after deducting our sales or revenue with our costs and expenses. Sometimes business owners even go beyond ethical grounds just to avoid losses and stay in profit. They do this on many ways. An example of this is by maximizing their revenues by setting unreasonably high product and service prices. Some businessmen manufacture or provide low quality products and services just to lessen their costs. And when it comes to dropping expenses, they commit tax evasions, pay unjustly salaries and benefits to employees, escape environmental preservation expenses, and other unethical and unfair business practices.

Computing profit is one thing that every business owner wants to learn. To know this is to learn some basic accounting. So how do we compute profit? Basic accounting states that profit is equal to revenues less your cost and expenses. For a manufacturing and merchandising firm, net profit is equal to sales less cost of goods sold and expenses. For a service firm, it is equal to sales less cost of services and expenses. Common business expenses include administrative salaries and benefits, provisions, marketing expenses, taxes and licenses, insurance, power and communication, supplies, repairs and maintenance and others. Taxes and licenses are considered government expenses. In a set of financial statements, you will find the computation of your business net profit or net loss in the statement of income or loss. Statement of income is also known as statement of operation.

Business profit is a reward of doing good in business. It is a prize obtained by a good businessman. But why do bad businessmen still getting this reward of profit? Why do their independently and professionally audited and accounted income statements still show profits? Are we having a wrong maxim or a wrong computation? Good businessmen indeed get business reward. Our accounting is not really wrong but only lacking some important factors that need to be accounted. Everything that relates business should be accounted to come out with the true profit.

Let’s go back to the basic equation, net profit is equal to revenues less costs and expenses. Revenues are your total earned sales of products or services. It should also consist of other revenues like interests, income from rents, investments and others. Moreover, it should also include recognizable goodwill like environment protection, charity, full taxes remittance, providing qualitative products and services, satisfaction of clients and customers, high and favorable compensation to laborers and employees, and others. These gains though difficult to monetize are not impossible to estimate in order to be accounted in our statement of net profit or loss.

Costs and expenses, as discussed earlier include cost of products and services and expenses of being in business. Expenses should also include recognizable bad deeds like damaging the environment, tax evasion, providing low quality products and services, customers’ negative claims, absence of honesty and integrity, unfair payment of remunerations to employees, and others. All these factors are business related and therefore should be accounted and recognized in computing true profit. Hence, our accounting standard regulators and bodies should start setting standards that will truly and deeply account business profit. So that, readers of profit statements and all other financial statements will finally be able to know if a certain business or company is doing good or not.

The House Team Of Mortgage Intellingence


What if there was such a thing as a magic card that you could carry with you, which had the power to open doors for you all over the world? You show someone your magic card and ‘voila’, you can have what you wish for. You would want to protect that card very carefully, wouldn’t you? Your credit is a little like that. Your good credit is a passport to financial opportunities. A poor credit rating can be a terrible obstacle… and repairing your credit is often a slow and difficult process.

What you may not know is that you can actually use an Ontario mortgage to re-establish your credit. Canadians are carrying heavier loads of personal debt than ever before. For some, the cost of servicing those debts is itself an obstacle to correcting the problem. Each month can be a chase to make the interest payments to keep the debt afloat. But if debts are rolled into a new mortgage, your credit can improve rapidly, assuming of course that you don’t rack up any new debts!

Here’s how it works:

Perhaps you have maximized your credit cards – and maybe even have a short-term loan or line of credit that you are also trying to pay down in addition to your regular mortgage payments. You may be considered a “high risk” borrower under these circumstances, even if you are managing to squeeze out your payments each month. Your overall payment history is satisfactory, but your debt load is heavy. If you consolidate your debts into a new mortgage, you can better manage those debts while also restoring your credit rating.

You may not have considered using a mortgage to refinance and manage your debts, but there are a few significant advantages. Your status as a homeowner can give you access to a lower overall borrowing rate. A house is considered very reliable security, so mortgages often offer the best rates available anywhere. In addition, your credit history enjoys an almost immediate boost, as you begin to make your monthly payments. There are many innovative mortgage options available today, including a new mortgage product that has been designed specifically as a credit repair tool.

This specialized mortgage is good news for clients who are trying to distance themselves from their past credit problems. Debt is controlled quickly – since the new mortgage offers an interest rate lower than credit cards that can dramatically reduce the interest charges on your debt — and your credit typically improves in only a few months.

You probably already know that it makes sense to consolidate your debt into one payment. You can generally enjoy substantial savings on interest charges; you have a more manageable monthly payment and better monthly cash flow. Consider how a new mortgage can help you manage your debts – and make it a goal this year to improve your credit rating.