OE: Original Equipment:  This part is either made by the car manufacture or is made by an automotive part supplier and is branded with the car manufactures logo and/or in the car manufactures box.

OEM Original Equipment Manufacture

OES Original Equipment Supplier

Car manufacturers do not make all their parts that they put on their vehicles during assembly or repair, they contract out to auto part manufactures to make parts for them. For the most part the car manufacturer makes the body, frame and major engine components the rest they ‘farm out’ to OEM/OES manufacturers. The car manufacturer provides the specifications to the OEM/OES manufactures for the parts they need. The OEM/OES manufactures the part to these specs, adds a logo and ships it to the car manufacture.

Bosch, Bilstien, Boge, Beru, Mann, ATE, to name a few, are all OEM or OES suppliers to the car manufacturers. They make parts from spark plugs to exhaust parts. The difference between OE and OEM/OES is mainly the OEM/OES usually don’t have the car manufactures logo, but they are the same exact part. Sometimes the logo is ground off the part by the OEM/OES company so as not to affect there contract with the car manufacture. Same part coming off the same assembly line as the OE part does.

The OEM/OES parts are less expensive because they do not go through the car manufactures part system. Every time an OE part goes through a depot, warehouse, dealer, there is a little more money added to the cost of the part. This is the major reason that OE parts cost more. OEM/OES do not go through this procedure, our buyers get them directly from the manufactures, keeping the prices down.

Aftermarket: aftermarket parts are just that, aftermarket. They are not made by the car manufacturers. They can be made by one of the original equipment manufacturer companies or by a completely different manufacturer. The main difference is they are not made completely to the car manufacture specifications. This is not always bad. One example is Bilstien. They are an OEM/OES supplier, but they offer aftermarket parts also. There HD struts/shocks are original equipment, but their Sport struts/shocks and suspension kits are not made to OE specifications, better but not OE, so it’s now an aftermarket part. Another example is the Stewart EMP BMW water pumps. Stewart EMP is NOT an OEM/OES manufacturer but the pump they make is better and stronger than OE. It is an aftermarket part but a better part altogether.

But still another example of an aftermarket BAD part is a counterfeit part. Counterfeit part manufacturers use backward engineering to get the specifications of the part without paying the car manufacturer. And almost all the time these parts are made with very low quality components. Sometimes these parts are very hard to identify because a lot of emphasis is put on the look and feel of the part and not what it is made from. One way to identify an counterfeit part is its unbelievable low price, the old adage you get what you pay for fits here. The best way to avoid these cheap low quality parts is to purchase your parts from a reliable source, one that offers a warranty and return policy.

Almost all Performance parts are aftermarket parts, again be careful with these parts also. Buy from a reputable supplier or/or manufacturer.

 

Now that our aging population has visibly become a force to be reckoned with, many homebuilders are discovering mature adults to be a potent market. But often homebuilders tend to miss the market by focusing more on the home (which is after all what builders are selling), rather than the lifestyle (which is what drives most of the sales activity in an adult lifestyle community).

Many developers and homebuilders operate from the misconception that mature buyers prefer to live in homes that are inexpensive and focus on pricing their homes as low as possible, believing that product and price are what drives the sale. And surely there are adult lifestyle purchasers for whom price is a prime consideration. But most potential residents of an adult lifestyle community are looking for three things: adult, lifestyle and community.

Purchasers in adult communities want to be sure that the community they are considering moving to is indeed an “adult” community. As such, many such communities are age-restricted, with a hard and fast set of rules that precludes the possibility of children moving in. Of course, in jurisdictions that do not allow discrimination on the basis of age, there are other ways to “restrict” who moves in. This could range from so-called restrictive covenants registered on title of the property to rules about the permanent number of residents that may occupy any one dwelling unit (usually no more than two) under a condominium corporation or a rental agreement. Finally, the best method to maintain the integrity of an adult lifestyle community is to offer homes that are specifically designed for an older, childless demographic. The market will take care of the rest.

Some builder want to hedge their bets by offering large two storey homes in adult communities, imagining that they would be appealing to younger baby boomers that still have children at home. This fallacy results in pleasing neither the younger baby boomers that do not want to live in a community comprised largely of older people, nor the active adults seeking a childfree lifestyle.

As stated above, one of the most important considerations on the part of the purchaser in an adult community involves lifestyle. Many people in their 50s and 60s who are either retired or semi-retired have a lot of leisure time and a plethora of interests about which they are very passionate. Many are into golf in a big way and seek communities that are near golf courses. Many are into personal fitness and look for communities that provide exercise facilities. There are nearly as many interests as there are individuals seeking to live the adult lifestyle. Those communities that recognize this very important fact tend to do very well, while those that don’t, not so much.

Finally, active adults tend to be very social and seek to live in a community where they find others of similar interests and values. Many of these communities have organized activities, such as a bridge club, a golf group, round-robin tennis tournaments or group projects such as quilting or knitting. A sense of being a part of a community of like-minded individuals really is one of the most important aspects of a successful adult lifestyle community. These are the reasons why a community clubhouse is probably one of the most important amenities that any adult lifestyle community could provide. And the greater the variety of amenities and interests, the more people will be attracted to live there.

The advancement in technology has certainly had a major effect on the lives of many. This world is becoming a global village and distances no longer a problem. Communications and mass information is just a few clicks away; thanks to the computer related technology, more specifically the utility of internet, which is a part of the information technology.

Social networking websites and chat related applications are now presenting quite a number of advantages to the users. They reduce distances between the users and help them connect with relatives and friends from all over the world. The aim of any social networking site is to make the application and utility user friendly.

With the technological changes and new developments occurring every day, internet users no longer have to face the problems online that they had to face lately due to technical glitches, which resulted in frustration. Now the users no longer have to rummage through heaps of messages to access a particular conversation or read at hyperactive speeds just to keep in touch with the discussion on hand. The systems have become more streamlined and responsive and thus more convenient to the users.

This constant and rapid change in web technology has opened many windows of opportunity for both the users and the developers. The users now have more options to switch to and the developers have to work to develop newer, better, efficient and easy to use portals.

In its early days, E-commerce existed simply as a form of facilitation for commercial and financial transactions. It is one of the few things that have changed with the passage of time. This historic turning of e-commerce occurred about three decades ago.

Technologies such as electronic data exchange and electronic funds transfer have been introduced and they had a revolutionary effect because these allowed the businesses to communicate the commercial documents such as the basics of purchase orders and invoices via electronic network systems securely. The growth of telephonic banking services, credit card transactions and automated teller machines has added a new dimension to e-commerce. There are still innumerable aspects of business and other related issues that are growing as per the users need and the information technology is providing a highly efficient and secure platform to them.

Electronic payment systems have become the engine for almost all online transactions. The major electronic payment systems that govern current online transactions are credit card processing systems and electronic payment gateways. The electronic payment gateways are the companies that facilitate financial transactions online by authenticating credit cards and online bank accounts authorizing certain transactions. They basically form the virtual connectivity between merchant’s website and the credit card companies; this sure reduces the hassle of long bank queues and offer purchasing options when ever and where ever any one pleases to have these while utilizing the splendors of computer technology.

The information technology has come a long way and is ever evolving. It has truly made the world a global village.

You might be surprised to learn that there are different types of locksmiths around. This is essential especially for those who want a more specialized service. Residential, commercial, automotive and forensics are the types of locksmiths that are accessible although the forensic ones are rare as they usually work with investigative agencies or law enforcement agencies.

Residential

Residential locksmiths are experts when it comes to making the home safe and secure. As most homes have the regular locks installed near window frames, it might compromise the safety of the family. These experts can install a double cylinder lock that needs a key inside for the door to open to give extra security. Aside from this base-knowledge they can also re-key locks as well as have them replaced in such a way that these are not easily tampered. They can also do entry gates, screen doors, sliding as well as emergency services.

Commercial

A commercial locksmith specializes in locks that are manufactured for business purposes. Examples would be installation of panic bars, replacing locks in file cabinets, installation of automatic door closer, safe/vault installation as well as installing a master-key system. Panic bars are especially important as they would provide workers a means to exit the building premises in case of emergencies.

Automotive

Automotive locksmiths are the ones that you go to if you ever need a spare car key or want a replacement when you’ve lost the original car key. These experts can help automotive owners in choosing the right type of car keys that would best suit their needs. Most automotive locksmiths are familiar with transponder car keys and can also do re-programming at a lower price compared to the same service that car dealers offer. Aside from transponders, they can also unlock cars, change or replace ignition locks, provide laser cut keys and even offer lock services for high security vehicles.

Services

In choosing the locksmith that would best suit your need(s), it is important to deal with a company that is licensed and has done background checks on their employees. This is to make sure that the company that you would be transacting with is legal and since some items in the house might be valuable or important documents are inside vaults or safes, one is assured that the person they are dealing with is someone who they can trust. Consider talking with someone who knows a reputable locksmith especially if you’ve just moved in or purchased a new home or office.

During the recent years many people have started doing exercise, taking yoga classes and also following strict diet in many countries. The reasons behind these activities are many, like work-stress, people suffering from diabetes, people taking lots of fats in their food and due to the pollution and the ongoing urbanization. Most of the people living in the cities suffer from heavy pollution due to heavy intakes of carbon monoxide in their bodies. Due to this heavy intake there are many side effects involved in this process.

Most of the people are also addicted to smoking and alcohol, recent studies by an organization out of 100 people 60 percent drink significantly more than is healthy. Also in most of the countries even the percentage of the female population abusing alcohol is increasing. Due to this many of the doctors suggest people take regular exercises and also play sports in their leisure time. In the last ten years heart diseases has increased enormously from 35% to 70%. In recent years most of the children are born with diseases, a result of their parents poor health and lifestyle. So in these times it is necessary to follow some rules so that our health as well as our younger generations will be healthy.

Keeping healthy is nothing but keeping our body clean with healthy habits like taking regular exercise. First of all a regular jog of 2 km is enough for an individual of an average age. During the school days till college everyone is involved in one or other sport, but when people find a job they forget about health and they soon become busy in their work. One should consult their doctor every 3-4 months for a regular checkup’s. They should not be stressed – if they find stress they should take yoga classes every day, so that their blood pressure will be normal. Otherwise that would lead them to hyper blood pressure or hypo, which may lead to heart disease. Most of the corporate companies in USA as well as rest of the world are employing dietitians, physiotherapists, and also good doctors to take care of their employees.

The next thing I want to discuss is the diet because the intake food which we are taking is responsible for all the fats, carbohydrates,proteins and necessary enzymes which will be useful for the energy conversion or utilization in the human body. We should follow the diet very strictly by avoiding the junk food available in the market. A recent survey states that most of the people fall ill by consumption of junk food. A food with little fat is advisable because by taking more fat content the fat will be accumulated in the veins and arteries in the human body which result in high blood pressure which may lead to heart disease. In order to reduce the fats in the human body we should take less oil or cheese or butter in our food there by controlling the fats in the human body. Regular exercise will be helpful to control the fat in the human body.

By playing sports it will be a good exercise in the human body. Swimming is also a good sport. We should maintain our body weight according to our height. There we can reduce our health problems to most of the extent. I conclude my discussion to the above topic by saying that a regular exercise or yoga and a strict diet and playing sports and regular check ups we can keep our body healthy after all there is an old saying “Health is Wealth”.

The automotive equipment industry deals with the production of every kind of tool and machinery that is needed for the manufacture, maintenance and repair of vehicles including cars and car parts. As such, the industry produces several different varieties of equipment starting from basic hand tools to more complex machinery.

Different Kinds of Automotive Equipment

Automotive workshops and garages will be unable to function without automotive equipment. Shop furniture, lifts, exhaust hoses, air compressors, lubrication equipment, electric and light reels, jacks, vehicle servicing equipment, fluid storage tanks and trans-air piping are some of the many different types of automotive equipment that are used by automotive manufacturing and automotive repair businesses.

Common Types Of Automotive Equipment

* Hand Tools: Automotive repair shops use several different types of hand tools for their repair and maintenance projects. Some of the commonest items include ratchet sets and wrench sets, crowbars (also known as pry bars), socket sets, screwdrivers, star and clutch-head drivers, hammers, pliers and wire cutters, electric drills, hacksaws and torque wrenches.

* Pneumatic Tools: Most automotive workshops now use pneumatic tools as an alternative to electricity powered motors because the latter is more prone to fire hazards. Such tools are powered by compressed air and are high powered versions of the more traditional hand tools. Common examples of pneumatic automotive equipment include air compressors that can be used to power a variety of tools including hammers, drills, ratchets and spraying tools.

* Availability of pneumatic equipment makes it easier for mechanics and technicians to undertake repair and maintenance work because they are powerful and easy to use. For example, a set of pneumatic shears can cut through sheet metal at a faster rate and leave behind a smoother edge when compared to traditional tin snips. Similarly, air hammers outfitted with chisel or punch bits have multiple uses. They can they be used for straightening dents. The chisel feature can be used to break rusted parts loose and the punch bits can be used to remove old rivets and bolts that are too difficult to take out by hand.

* Lifts: several different kinds of lifting equipment are used to lift and secure cars so that mechanics and repair persons can easily work under the vehicle. These lifting tools include both low-tech tools such as basic floor jacks, car ramps and jack stands as well as hydraulic lifts and floor jacks for better efficiency and performance.

* Vehicle Exhaust Removal Systems: vehicle exhaust removal systems are used to capture and remove harmful exhaust fumes to insure optimal air quality in automotive maintenance and repair facilities. These are mandatory equipment as per OSHA Standards in order to limit exposure to harmful vehicular emissions. Common vehicle exhaust removal systems include hose drops as well as reels.

* Lubrication Systems: Automotive lubrication systems include several different types of oil meters, ATF meters, gear lube meters, dispense valves and grease dispenses valves.

The Automotive equipment business is a very large and competitive business. Automotive repair businesses must buy equipment from reputable dealers for the best deals and performance levels.

What is advertising?

It is hard to find a satisfactory definition of advertising.

A picturesque way of putting it is to call it business imagination, an imagination that sees in a product possibilities which can be realized only by appealing to the public in new ways to create a desire where none existed before. It is a very broad word, an omnibus word conveying different ideas to different people.

No advertising definition is here possible except as this entire article may be accepted as a definition. So rapidly has advertising advanced through its various changes that even the latest dictionaries and encyclopedias are out of date in their attempts to define it. The advertising of yesterday is not the advertising of today. Men not so very old have witnessed its entire development from an untrustworthy instrument of quacks to its place as an engine in the conduct and expansion of business.

Advertising in the dictionary sense has a history as old as that of the human race. Just as soon as there were enough people in the world, some sort of formal announcement had to be made. The early history of such announcements – from proclamations to the beginning of pictorial and lettered inscriptions, from these primitive posters to the discovery of printing, and from the advent of printing to the beginning of real advertising – is of interest only to the archaeologist. It is of no value to the business entrepreneur. It would be of no assistance to understanding modern advertising than ancient Phoenicians coins would be to comprehending the principles of a modern bank.

Every attempt to secure the sale of a product or service is advertising. The wares of the primitive merchant displayed invitingly in front of his booth is advertising. A want ad, to secure a job or an employee, is advertising. An inscription on a wall, the barker in front of a side show, the promises of an internet marketer, the announcement of a new online technology, membership in an affiliate program, wearing a peculiar shirt or distinctive sticker in your car – all these are forms of advertising in that they seek to attract attention to a product or a service that is for sale. For a product or a service of general use, rich and poor, high and low, men, women and even children, must be appealed to.

At least one principle we know of, stays constant, not eroding with the passing of time or the use and or abuse of men, not concerned with the weather outside, nor considering your personal health status, or taking into account your surrounding circumstances, and that is that you have to keep doing it, it has to be fed, no way around it, it keeps asking for every ounce of your commitment if you expect any kind of visible returns.

Whatever the appropriate definition of advertisement is, one thing is to conclude, it is because it has been. And every succeeding year since the beginning of the human entrepreneurship it has left its precious deposit of new ideas, better methods, larger and swifter efficiency, and the promise of an even greater growth.

 

Integrated Resorts by definition are resorts with mixed development like hotels, restaurants, convention centre, theme park, shopping centre, casino etc. Because of the gaming component – casino, integrated resorts development has stirred a great controversy among the Singaporeans.

The Prime Minister of Singapore, Lee Hsien Long announced the cabinet’s decision to develop 2 integrated resorts in Marina Bay and Sentosa. The Singapore Government stated that the aim of the Integrated Resorts is to boast the country’s tourism industry. There has been very keen competition from the neighboring countries like Malaysia, Thailand and Hong Kong. According to the Government, the Integrated Resorts are expected to create some 35,000 jobs directly and indirectly.

There has been debate among the Singaporeans on the plan to build Integrated Resorts. Religious groups and social workers voiced their disapproval at the negative social impact of gambling.

The Government however, promised to have a proper and strict safeguard to limit the social impact of gambling, among others exorbitant entrance fee and the casinos would not extend credit to local population.

Marina Bay Sands

It is located at the Marina South of Singapore. Currently, there are a few pretigious hotels operating like Ritz Charlton Millenium, Oriental Hotel, Marina Mandarin and Pan Pacific Hotel. It will have a panoramic view of the sea and tranquil environment.

The Government of Singapore called for request for concept in December 2004. It received overwhelming response from the industry. A total of 19 bids were submitted during the request for concept.

In the formal bids later, 4 companies/consortiums submitted their tender including:- (i) MGM Mirage/Capital Land, (ii) Harrah’s Entertainment/ Keppel Land, (iii) Las Vegas Sands and (iv) Genting International/Star Cruises.

Eventually, Las Vegas Sands succeeded in their tender, by committing the highest development investmetn of S$3.85 billion. The concept was designed by Moshe Sofdie consisting of 3 layers shells containing conference halls, 3 hotel towers linked to top floor of a sky garden.

Resorts World at Sentosa

Sentosa which means transquility in Malay is a popular island resort in Singapore. Previously, it was known as Pulau Belakang Mati (Island of Death from Behind). Statistics shows that it has been visited by some 2 million people annually. It has a sheltered beach of more than 2 km in length on the Southern coast, historical Fort Siloso from World War II, two golf courses and 2 5-stars hotels.

The island has an area of 5 square kilometres. 70% of it is covered by secondary rainforest. It is the habitat of monitor lizards, monkeys, peacocks, parrots as well as native flora and fauna.

Since its inception of development in 1972, some S$420 million of private capitals and S$500 million Government fund have been invested to develop the island.

3 consortiums submitted their proposal on 10 October 2006. They are: (i) Kerzner International with Capital Land; (ii) Genting International with Star Cruises Universal Studios and (iii) Eight Wonder with Publishing and Broadcasting Limited, Melco International Development Limited, Isle of Capri Casinos Inc.

The bid were reviewed by a ministerial committee and a tender evaluation committee and results were announced on 8 December 2006. Genting International and Star Cruises won the bid. Genting committed to a development investment of S$3.85 billion.

With these 2 Integrated Resorts completed and in operation by late 2009, Singapore will be placed at a totally better position in tourism industry in the region as compared with its competitors.

 

In this article, we aim to provide an educational means to understanding how to save a considerable amount of money when traveling with a family or large group. In the case study below, we’ll show how Ultimate Luxury Rentals vacation homes in Tucson, AZ have saved the vacationers coming to the area time, money, privacy, and a “home away from home” feel.

First off, you may be wondering, what is a luxury home rental? Well, we will get to that later in the article. Let’s start with some of the reasons people are now renting these vacation homes as opposed to

Many vacationers choose to rent a vacation homes for a variety of reasons. Economics is one of the primary reasons. A vacation home can replace 2-4 hotel rooms at a fraction of the cost. Vacationers can eat their meals at home or even cook up their favorite meals on the barbecue. Our average vacation rental customer saves over $2000 in a 1 week stay. Privacy is another major consideration when choosing a vacation rental home over a hotel or resort. Many vacation homes include enclosed back yards with private heated pools and spas. Guest can enjoy their gathering of friends and family without interruption. Amenities are probably the main reason vacationers continue to rent vacation homes year after year. Many vacation rentals offer amenities that are superior to many upscale hotels and resorts. Pillow top mattresses with sateen sheets, plasma TVs, free wireless Internet, pool or game tables, fully stocked gourmet kitchens, private heated pools and spas and some of the most spectacular city and mountain views in town.

In addition to the home itself, the destination you choose has its own attractions and amenities. Continuing with our case study of luxury homes in Tucson, Arizona, here is a little history of the Old Pueblo and some of the history that attracts people to this particular destination.

With its mixed cultural heritage and international population, Tucson’s traditions span centuries of habitation from prehistoric Indian cultures to recent immigrants from all over the world. Today Tucson has become a destination for many visitors particularly those looking to rent a vacation home in Sonoran Desert of Arizona.

True to its Old West beginnings, Tucson’s first inhabitants roamed the area hunting mammoth and bison between 12,500 and 6,000 B.C. Following them were the Cochise , who built pit houses and used stone tools, and the Hohokam, who began farming the valley in 300 A.D.

In 1692, Spanish missionaries arrived in the valley to find the Indian village S-tukson (“black base”). In 1775, the Spanish built an outpost, the Presidio of San Augustin.

By 1804, some 1,000 people lived in the adobe village – mostly Spanish, Mexicans, and Native Americans who made their living raising crops and livestock. After the Mexican Revolution of 1821, Tucson became part of Mexico.

Looking for a southern rail route, the U.S. negotiated the Gadsden Purchase with Mexico in 1854 and Arizona became a U.S. territory. In 1867, Tucson became the territorial capital for the 10-year period, which accelerated civic progress.

In 1885 , The territorial legislature approved $25,000 to build the University of Arizona. The city continued to grow rapidly, reaching 7,000. Around the turn of the century, Tucson began attracting thousands of tuberculosis victims seeking a cure in its dry climate. In 1912, Arizona became the 48th state to enter the union.

Fueled by Industries and tourism, the population of Tucson grew rapidly – at one point welcoming 1,000 newcomers each month. By 2000, the population had reached 800,000.

Vacation rental homes in Tucson, Arizona offer a wide range of choices to visitors from all over the world. Many different neighborhoods comprise the city and offer vacationers a large selection of accommodations and activities.

The Tucson Mountains are located approximately 8 miles west of Interstate 10. The proximity to Interstate 10 makes day trips to Phoenix, Tubac, and Nogales Mexico very convenient. Some of the most desirable luxury vacation rental homes in Tucson Arizona are located in this area. These vacation homes boast some of the best city and mountain views in the state. Most of the luxury vacation rentals are located on acre plus lots with private pools and spa and offer an experience that is one with nature. Vacation rental customers may have the pleasure of seeing many of the desert’s wildlife such as the javalina, coyote, bobcat and a wide variety of birds such as hawk, dove, quail, and the state’s official bird, the road runner . Vacation rental guests will also have a wide variety of attractions such as the Sonoran Desert Museum, Old Tucson Studios, Wildlife Museum, Gates Pass, and the Saguaro National Park West. The west side of town appeals to the business traveler as well. Many of the Ultimate Luxury Rentals vacation rentals are located less than 10 minutes from the Tucson convention center. These homes’ locations put you in the heart of the most beautiful desert in the world, the Sonoran Desert. During the first 2 weeks in February, The TCC is home to the Tucson gem and mineral show the largest gem and mineral show in the world. Parents of University of Arizona students choose west side vacation homes because they are very convenient for visiting their child during the holidays or celebrating a graduation.

The Catalina Foothills is the largest mountain range in the valley and a well sought after area of town for visitors looking to rent a vacation home in Tucson AZ. Several upscale resorts and spas have made the Catalina’s their home. The Catalina foothills area has a wide variety of restaurants as well as upscale shopping at La Encanta and St Phillips Plaza. For those looking for hiking and site seeing, the Catalina area offers the Sabino Canyon Recreational Park. For vacation visitors looking to escape the summer heat (temperatures average 20 degrees lower than the city), you can take a 25 mile drive up to the top of Mt Lemmon. The Tucson vacation rentals located in this area consist of a large selection of luxury vacation rental condominiums and single family vacation homes on ½ acre lots with excellent mountain and city views.

Oro Valley has been one on the most rapidly growing areas in Tucson. Many of the vacation rental homes and condominiums are new construction and offer very upscale accommodations. There are many fine restaurants to choose from as well as some of the best golf resorts in town. The is only disadvantage to renting a vacation home in Oro Valley is the traffic. Traveling to and from Oro Valley at the wrong time of day can be quite a chore. Travel times to other areas of town such as the Tucson mountains and the east side can take up to 45 minutes or longer.

As you can see for this particular destination, there is an entourage of amenities, attractions, scenery, and history. In order to make the most of your trip, it would obviously be to your benefit to have extra funds. Luxury vacation rentals are a win-win option for your trip. Aside from your destination, they are certainly something to look into. Obviously you’ll want to find the best deal with the most credible provider of luxury rentals.

Still curious what is a luxury rental? Ultimate Luxury Rentals is a starting point for you. With over 7 years in the luxury home rental business, they have continued to provide the highest quality of homes and services to customers worldwide. Visit them at Ultimateluxuryrentals.com and get a first hand look at homes in Tucson, AZ, Taos, NM, and Costa Rica!

 

Nobody knows your business better than you do. After all, you are the CEO. You know what the engineers do; you know what the production managers do; and nobody understands the sales process better than you. You know who is carrying their weight and who isn’t. That is, unless we’re talking about the finance and accounting managers.

Most CEO’s, especially in small and mid-size enterprises, come from operational or sales backgrounds. They have often gained some knowledge of finance and accounting through their careers, but only to the extent necessary. But as the CEO, they must make judgments about the performance and competence of the accountants as well as the operations and sales managers.

So, how does the diligent CEO evaluate the finance and accounting functions in his company? All too often, the CEO assigns a qualitative value based on the quantitative message. In other words, if the Controller delivers a positive, upbeat financial report, the CEO will have positive feelings toward the Controller. And if the Controller delivers a bleak message, the CEO will have a negative reaction to the person. Unfortunately, “shooting the messenger” is not at all uncommon.

The dangers inherent in this approach should be obvious. The Controller (or CFO, bookkeeper, whoever) may realize that in order to protect their career, they need to make the numbers look better than they really are, or they need to draw attention away from negative matters and focus on positive matters. This raises the probability that important issues won’t get the attention they deserve. It also raises the probability that good people will be lost for the wrong reasons.

The CEO’s of large public companies have a big advantage when it comes to evaluating the performance of the finance department. They have the audit committee of the board of directors, the auditors, the SEC, Wall Street analyst and public shareholders giving them feedback. In smaller businesses, however, CEO’s need to develop their own methods and processes for evaluating the performance of their financial managers.

Here are a few suggestions for the small business CEO:

Timely and Accurate Financial Reports

Chances are that at some point in your career, you have been advised that you should insist on “timely and accurate” financial reports from your accounting group. Unfortunately, you are probably a very good judge of what is timely, but you may not be nearly as good a judge of what is accurate. Certainly, you don’t have the time to test the recording of transactions and to verify the accuracy of reports, but there are some things that you can and should do.

  • Insist that financial reports include comparisons over a number of periods. This will allow you to judge the consistency of recording and reporting transactions.
  • Make sure that all anomalies are explained.
  • Recurring expenses such as rents and utilities should be reported in the appropriate period. An explanation that – “there are two rents in April because we paid May early” – is unacceptable. The May rent should be reported as a May expense.
  • Occasionally, ask to be reminded about the company’s policies for recording revenues, capitalizing costs, etc.

Beyond Monthly Financial Reports

You should expect to get information from your accounting and finance groups on a daily basis, not just when monthly financial reports are due. Some good examples are:

  • Daily cash balance reports.
  • Accounts receivable collection updates.
  • Cash flow forecasts (cash requirements)
  • Significant or unusual transactions.

Consistent Work Habits

We’ve all known people who took it easy for weeks, then pulled an all-nighter to meet a deadline. Such inconsistent work habits are strong indicators that the individual is not attentive to processes. It also sharply raises the probability of errors in the frantic last-minute activities.

Willingness to Be Controversial

As the CEO, you need to make it very clear to the finance/accounting managers that you expect frank and honest information and that they will not be victims of “shoot the messenger” thinking. Once that assurance is given, your financial managers should be an integral part of your company’s management team. They should not be reluctant to express their opinions and concerns to you or to other department leaders.