Six Top Secrets Behind Credit Card

There’s more to you credit card than you might think and some of it your provider is very keen to keep quiet about. Here are six things they don’t want you to know.

Credit card companies, like any business, have a primary function: making money. And that means they'll use every legal trick they can think of to get you signed up and paying them interest.

It also means they're not keen on telling you a lot of things that will bring their profits down and save you money, so we've rounded up six facts that you should know and they probably won't tell you.

Finance & Accounting Facts : Types of Internal Controls

Internal controls in finance include control environment, risk assessment, control activities and control related to information and communication. Monitor internal controls for a business over a period of time with insight from a certified public accountant in this free video on finance.

The Importance of Internal Controls

What are the dangers of not having effective internal controls?

Ken Blake

Certified Public Accountant (C.P.A.)

Transcript:

Okay, what do we mean by "internal controls"? Primarily what we are tying to establish is ways of making sure that the business assets are not squandered or otherwise lost through loose accounting procedures. There are a number of areas that internal controls are really important: primarily in the area of inventory and also in the area of sales and cash management. For instance, you want to make sure that you take a physical inventory on a not too infrequent basis. Monthly would be great, quarterly would be not so great but it's still better than just an annual one. This allows you to match up what you think you have in inventory verses what you really have and can identify any shortages.

84 Banks Have Been Closed In The US

Until the third week in August 2009, the banking authority of the United States (U.S.) has closed 84 banks in trouble due to financial crisis.

Affinity Bank of Ventura in California Friday, August 28 became the 84th bank closed by U.S. banking authorities following the failure of banking functions.

According to The Federal Deposit Insurance Corporation (FDIC), affinity, which only has 10 branches, has assets of $1 billion and USD922 million others in the form of fixed-deposits.

The fixed-deposits will be taken over by Pacific Western Bank of San Diego. "Former Affinity branches in San Francisco and San Mateo as well as several other branches will be opened again on Monday next week operated by Pacific Western Bank," FDIC said.

FDIC estimates, the budget issued due to Affinity Bank bankruptcy could reach USD254 million. In addition to Affinity Bank, other banks in the U.S. that were closed at the same time is Bradford Bank in Maryland and Mainstreet Bank in Minnesota.

China Banking Regulatory Commission (CBRC) has submitted a draft of rule changes

China's government plans to tighten the capital of banking to reduce the liquidity of credit contributing to 60% rally in the capital market.

China Banking Regulatory Commission (CBRC) has submitted a draft of rule changes to the banking on 19 August 2009. The banking is asked to give a response until 25 August.

As a result of this policy, bank may reduce credit or release stocks to raise the minimum capital adequacy ratio to be 12%.

China's stock exchanges have bearish this weekend, in the middle of the government's efforts to reduce the credit that now exceed U.S. $ 1 trillion in the first semester.

Hang Seng Index in Hong Kong down 0.6% at 1600 local time after rising 0.5%. The Shanghai Composite Index rose 1.7%,and closed at 2.960.77 position.

Chinese bankings have sold 236.7 billion yuan (U.S. $ 34.6 billion) on the subordinate bonds this year, or nearly three times to the number of published in 2008.

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