Who are you?

[caption id="attachment_539" align="alignleft" width="200"] Who are you?[/caption]Can you answer the question – Who am I? What comes to mind when I ask this question. If I were to guess right most of the things that came to mind were made in comparison to others. Some of you might have even compiled lists of all the things you are not and forgotten to identify who you are.Comparing
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Opportunity cost: Counting the full cost

In accounting, opportunity costs are the potential benefit given up when choosing one choice over the other. Opportunity costs are relevant to future decision making and should not be ignored while making important decisions.Life is filled with many choices. Every choice has a cost associated with it and we must carefully consider the economic value of the forgone alternative. For instance, if you are taking a two week vacation
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Happy Mother’s Day

 Since today is Mother's day in the United States, I will like to dedicate today's post to wishing all the Mother's out there a Happy Mother's Day. I also will like to share a little bit about my children: I have 2 children Gina and Mira whom I love dearly. Find below pictures and a little bit about them.This is Mira. Mira loves learning about plants and animals. She reads
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Credit for the elderly or disabled

Elderly or Disabled individuals can get a reduction on their taxable income if they meet both of the following requirements:You are a qualified individual Your income is not over a certain limit To be a qualified for the credit for the elderly or disable credit, you must be over the age of 65. You are considered to be 65 on the day before your birthday. For an example if you
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Sunk Costs: Knowing when to let go …

In accounting, sunk costs are costs that have already happened. They cannot be changed with any current or future actions. Sunk costs are called irrelevant costs because they are irrelevant to future decision making.However, I find this principle so applicable to our everyday life. Even though it is an accounting concept people will make much better decisions if they knew how to apply the principle of sunk costs.I
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