Notary?

Notary

 

1. Define notarization

Notarize: to certify (a document, contract, etc.) or cause to become certified through a notary public.

2. List the purpose of notarization.

The purpose of having a legal document notarized is to ensure the authenticity of the signatures that appear on the document.

3. Identify the responsibilities of a notary.

A notary is responsible for witnessing a signature, certifying a copy, administering an oath or affirmation, performing weddings, and delivering absentee voting ballots.

4. List the process to become a notary.

• Decide if you want legal training.
• Determine whether your criminal record could leave you ineligible, if applicable.
• Figure out if your state requires any notary classes before you apply
• Take the state-mandated notary exam, if necessary
• Check with your State officials to determine who is responsible for your licensing.
• Apply.
• Await an acceptance or rejection from the appropriate state department.
• Comply with all laws of your State as they apply to the Notary.

Meeting Agenda and Minutes

Meeting Agenda and Minutes

Meeting Agenda: A meeting agenda is to show what will be taking place or what key points will be discussed at the meeting. Meeting agendas are send to all participants, so they could come prepare for the meeting as well.

 

 

 

 

 

Meeting Minutes: Minutes from a meeting are to keep track of records. And be evidence of what happened in the meeting.

 

 



BOSAS 3,4 Sem. 1 Final

Sem. 1 Final

By Valentina Torres

 

1. Name the 5 functions of management and explain each?

•  Planning: This step involves mapping out exactly how to achieve a particular goal. Say, for     example, that the organization's goal is to improve company sales. The manager first needs to decide which steps are necessary to accomplish that goal. These steps may include increasing advertising, inventory, and sales staff. These necessary steps are developed into a plan. When the plan is in place, the manager can follow it to accomplish the goal of improving company sales.
• Organizing: After a plan is in place, a manager needs to organize her team and materials according to her plan. Assigning work and granting authority are two important elements of organizing.
• Staffing: After a manager discerns his area's needs, he may decide to beef up his staffing by recruiting, selecting, training, and developing employees. A manager in a large organization often works with the company's human resources department to accomplish this goal.
• Leading: A manager needs to do more than just plan, organize, and staff her team to achieve a goal. She must also lead. Leading involves motivating, communicating, guiding, and encouraging. It requires the manager to coach, assist, and problem solve with employees.
• Controlling: After the other elements are in place, a manager's job is not finished. He needs to continuously check results against goals and take any corrective actions necessary to make sure that his area's plans remain on track.

     2.  Social responsibility of business means what?
Being Socially Responsible means that people and organizations must behave ethically and with sensitivity toward social, cultural, economic and environmental issues. Striving for social responsibility helps individuals, organizations and governments have a positive impact on development, business and society with a positive contribution to bottom-line results.

     3.  Difference between a credit union and a bank.

Credit Union is a non-profit money cooperative whose members can borrow from pooled deposits at low interest rates.

Bank is a financial intermediary that accepts deposits an channels deposits into lending activities either by directly by loaning or indirectly through capital markets.

     4.  Gross Pay:
The total of an employee's regular remuneration including allowances, overtime pay, commissions, and bonuses, and any other amounts, before any deductions are made.

    5.   Net Pay:
Portion of a salary or wages that an employee actually gets (takes home) after paying all deductions and taxes.

    6.  Checking Account:
A bank account which pays little or no interest, but from which the customer can withdraw money when he or she wants by writing checks.

    7.  Savings Account:
Bank or other depository institution account from which withdrawals can be made.

    8.  Where is a check number located on the check?
Right side, top corner.

    9. Where do you sign a check?
Sign the check on the line in the bottom right corner. Your check will be invalid if it is not personally signed.

   10.  What does - Pay to the order of mean?
A check or draft that must be paid via endorsement and delivery. Pay-to-order instruments are negotiable checks or drafts that are generally written as "pay to X or order." These instruments stand in contrast to pay-to-bearer instruments, which do not require endorsement.

   11.  A Pay check comes from whom?
Your employer's payroll department.

   12. Deposit slip is used for what?
A deposit slip is used to record the amount you want to add to your account. In addition to the deposit slip you would have the corresponding equivalents is some form: Cash, coins, checks. 

   13.  What do you fill out on a deposit slip if you want cash back?
If you want to deposit your checks and get cash at the same time, write the amount of cash you want to take out in the row of blanks that is indicated for "less cash received," then sign the slip on the line that says "sign here for cash received." If you don't want cash, skip this step.

    14. You endorse a check where?
Credit union or bank.

    15.  Why must you endorse a check that you received?
In order to get your money from the bank, you need to sign the check over to them. By endorsing the check you are attesting to the fact that you have transferred said document to them and they can draw on that account.

    16. Name the 3 ways to endorse a check. Explain what each way means.

• Basic endorsement: basic deposit
• Restrictive endorsement: Deposit only.
• Special endorsement: Transferring the check to another party.

    17. Strategic planning means?
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. It may also extend to control mechanisms for guiding the implementation of the strategy.

 

 





How to fill out a Deposit Slip

HOW TO FILL OUT A DEPOSIT SLIP

By Valentina Torres

 

 

1. Understand that your checkbooks contain your deposit slips. They are located behind all of the your checks.

• Your name should be already pre-printed on your personal deposit slips.
• If you don't have any deposit slips, then request one from a teller, or you may find one in/on the writing stand located in the lobby of your bank

    2.  Notice that on the deposit slip, there are lines or a column designated to list your deposit. The first line says "Cash" this spot is for ANY CASH you're depositing. Count the cash you're depositing and write the amount where it is listed "Cash".

    3.  Look to see that next line is reserved for a check you want to deposit. If your deposit contains checks, then go ahead and list the one check in that spot.

• To enter a check enter it's bank number such as 91-527

    4.  Realize the next line may be reserved for "Checks" or "Total from the other side". Don't let this scare you, if you turn your deposit slip over you'll see that there are more lines to add more checks.

• If you have more than 2 checks, you can list them on the back and total them on the back as well.
• Once you have totaled the checks on the back, you can list them where it says "Total from the other side".

    5.  The next line says Sub Total. This is where you add up all the cash and checks you have listed.

    6.  Check out the next line and notice it says "Less Cash Received". This spot is reserved for the amount of money you would like to get back from the deposit.

    7. Now you just subtract the "Less Cash Received" line from the "Sub Total" line to get the total for your Net Deposit. 

   8. Finished.


Business Documents

Business Documents

  By Valentina Torres

Meeting Agenda

Developing a meeting agenda is a common job task for administrative professionals, assistants and secretaries. An agenda's purpose is to guide a meeting's activities and discussion points. It is a set plan of action and is designed to prevent a meeting's discussion from going off course. It should list several key points of information in addition to meeting topics.


 

Meeting Minutes

Whether it's an employee meeting or one that involves managers, employees, CEOs and investors, someone needs to be there to record the meeting and share the information with others who were not there. And since memories can be short, the meeting minutes also serve as a reminder to those present about the issues discussed, the decisions made and the actions people are supposed to take. Because the minutes serve as a guide for future business dealings, it's important to be organized and to include the right information. That starts with reliable tools.


 

Travel or Event Itinerary

A detailed plan for a journey, especially a list of places to visit; plan of travel.

 

Purchase Order

A buyer-generated document that authorizes a purchase transaction. When accepted by the seller, it becomes a contract binding on both parties.
A purchase order sets forth the descriptions, quantities, prices, discounts, payment terms, date of performance or shipment, other associated terms and conditions, and identifies a specific seller. Also called order.

Invoice

An itemized bill for goods sold or services provided, containing individual prices, the total charge, and the terms. The merchandise or shipment itself.



Getting out of debt

Personal Finance

1. At the time, Brandow (the father) was working as an IT manager bringing home about $120,000 a year and his family was $109,000 in credit card debt.
2. They had 5 credit cards. There lifestyle was one of the main reasons they were so deep into debt. They lived paycheck to paycheck and using credit to cover themselves.
3. Brandow went on the internet to look up more information about money and if there was some get-out-of-debt-quick scheme. He found Dave Ramsey and picked up one of his books
   'The Total Money Makeover'  in the public library,since he didn't have any money.
4. First they cut up four of their credit cards. Second, they called up the remaining company and had their credit limit dropped to $1,000. Third, he made an Excel spreadsheet and wrote down every single little expense the family had each month. Fourth, he cut out all the luxuries they had. Finally, Brandow also realized their local credit union offered a debt management program, and he gave them a call.
5. The kids helped by going to the grocery store instead of going out to eat. His wife went back to work in retail, increasing their household income to about $160,000 a year. 
6. His credit union offered a debt management program. Their credit union called their credit card companies, consolidated their debt, and reduced the interest rate. The rate was 18.5%, and they were able to reduce it to 1.5%.
7. Brandow started a blog, Debt Discipline, to document their progress, stay motivated, and remain involved with the online personal finance community.
8. During this process, they maintained an emergency fund with about $1,000.  Brandow's wife got into a car accident and the settlement from the accident's lawsuit  was put into their emergency fund in order to cover three to six months of living expenses.
9. It took the family almost just a little over four years to completely payoff their debt. The family sits down in dinner and talk about money and budgets. They want their children to start their financial lives on the right foot.
10. The family will go out to a nice dinner to celebrate, and take a big trip next year for the twins' 16th birthday.
11. Brandow is now focusing on building retirement savings and the kids' college funds.
12. Some advice that I learned reading this article was to not overspend and be smart on how I spend my money. I really like how this family made a list of all their expenses to keep track of all their money.



Debt Discipline

Developed a plan for your money

Spend less than you make(cut lifestyle)

Prioritize needs over wants

Increase income

Continued to educate your family about money

Defintions

1.  5 functions of Management: planning, organizing, staffing, leading, and controlling.
2. Resume: brief written account of personal, educational, and professional qualifications and experience, as that prepared by an applicant for a job.
3. Social Responsibility of business: Social responsibility entails developing businesses with a positive relationship to the society which they operate in.
4. Savings Account: Banks offer savings accounts to customers as a means of saving money.Saving accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium.
5. Compound Interest: Compound interest is the type of interest that is paid usually to higher interest rates environments.
6. Simple Interest : interest payable only on the principal; interest that is not compounded.
7. Checking Account: a bank deposit against which checks can be drawn by the depositor.
8. Check Endorsement: Check endorsement is a crucial step in either cashing or depositing a check. If you miss this step, the bank usually cannot proceed with the transaction.
9. Check writing: you write a check using your checking account. You can write a check up to the monetary balance you have in your account.
10. Bank statement: a monthly statement of account mailed by a bank to each of its customers with checking or other accounts, recording the banking transactions and current balance during a period and usually including canceled checks.
11. Checkbook reconciliation: An accounting process used to compare two sets of records to ensure the figures are in agreement and are accurate. Reconciliation is the key process used to determine whether the money leaving an account matches the amount spent, ensuring the two values are balanced at the end of the recording period.
12.  Deposit slip: a slip for listing deposits made to a bank account.
13. Differences between a Bank and a Credit Union: Bank an institution for receiving, lending, exchanging, and safeguarding money and, in some cases, issuing notes and transacting other financial business. Credit union is a cooperative group that makes loans to its members at low rates of interest.   
14. Credit card: a card that identifies a person as entitled to have food, merchandise, services, etc., billed on a charge account.   
15. Credit history: A consumer's credit history consists of information such as: number and types of credit accounts, how long each account has been open, amounts owed, amount of available credit used, whether bills are paid on time, and number of recent credit inquiries. It also contains information regarding whether the consumer has any bankruptcies, liens, judgments or collections. This information is all contained on a consumer's credit report.
16. Credit report: A
    detailed report of an individual's credit history prepared by a credit bureau and used by a lender to in determining a loan applicant's creditworthiness, including:
    
    1. Personal data (current and previous addresses, social security number, employment history)
    2. Summary of credit history (number and type of accounts that are past-due or in good standing)
17. FICO score: The FICO Score is calculated from several different pieces of credit data in your credit report.A high FICO score indicates that you have healthy card balances and a low debt-to-income ratio, which compares the amount of money you owe in monthly debt payments to your take-home pay.
18. Debit card: resembles a credit card but functions like a check and through which payments for purchases or services are made electronically to the bank accounts of participating retailing establishments directly from those of card holders.
19. Credit and interest rate: Credit is an entry of payment or value received on an account. Interest rate is the usual way of calculating interest as a percentage of the sum borrowed.