China and Japan have been at the forefront of Fintech expansion and innovation. How has the Fintech sector transformed all segments of the banking industry in Asia? Fintech aims to improve the delivery of financial services by eliminating traditional financial methods. Fintech aims to achieve this through the incorporation of technology is an industry that can be described as continually emerging and evolving. Modern technology incorporated includes the use of smartphones to perform activities like mobile banking as well as the use of the cryptocurrency that makes financial services accessible to people locally and globally. These two countries China and Japan, have been at the forefront of the innovation and expansion of the Fintech technologies. In the two countries, Fintech influence continues to increase, and projected numbers show an increase from $26.67 billion to over $55.33 billion. Despite these markets being volatile, China and Japan have invested in modern technology that helped them continue to achieve success locally and globally. Through such success, many investors realize the benefits that financial technology can bring to businesses in both developed and developing…
Types of primary users Companies are known to be associated with many transactions. These transactions occur daily in both private and public companies, and financial statements are prepared.This paper will focus on FASB staff assessment to answer how and why the user needs of private company financial statements differ from those of public company financial statements, how the benefit of cost considerations of financial reporting may be different between public and private companies. One of these significant factors is the number of primary users and their access to management. Another crucial factor is the investment strategies of primary users. The assessment will identify five significant factors, but two of the five will be mentioned in this research. In varying degrees, these two factors aim to differentiate the financial reporting considerations of public companies from those of private companies. Many primary users and investment strategies are different from publicly-traded companies. There are various types of primary users; these include investors, lenders, and other creditors. This number does not vary significantly between companies in the public and private sectors. However, the number…
Somalia Currency The official currency of Somalia from the year 1962 has been Somalia Shilling, and its symbol is Sh.So. The currency ranks as one of the worst currencies globally, and its exchange rate against the U.S. Dollar is significantly high. Currently, 1 Somali Shilling is equal to 0.0017 US Dollars (X.E., 2020). Major Economic Features Since Gelayadh came into power in the year 2000, the population of Somalia has been steadily growing at 3% per year. In the year 2020, the population of Somalia is estimated to be at 15.89 million, an increase from the 2013 value of 10 million (World Population Review, 2020). Somalia is quickly growing with up to 3% annual growth in population and a fertility rate of 6.26 kids per woman, the fourth largest globally. Its population size ranks its 73rd globally (World Population Review, 2020). The Somalia population is majorly young, with 42.87% of the population aged between 0 and 14 years. In the 0-14 years age bracket 2, 410, 215 are male, while 2,416,629 are female. The second-largest age group is the 15-24…
Choosing a Home Buyer Sometimes, you may have pressing issues that would require quick liquid cash to sort out. In other cases, you may want to relocate to another place due to one reason or another. In both cases, you may decide to sell your house for you to secure a good amount of money to settle the pressing financial issues and buy another house somewhere else for your relocation exercise. For most people, our houses are some of the most important assets since a person needs to toil and sweat for them to purchase or build one from scratch. For that reason, it may not be as easy of a task as it may seem to sell your house. In addition to being the most important asset for n individual, there are several things that are involved in the whole process of selling that may prove overwhelming for an individual, especially if they are under pressure. One of the hardest parts, when it comes to selling your house, is finding the right buyer that can suit your requirements,…
Canada Revenue Agency Finding free cash is very incredible. Fortunately, Canada Revenue Agency has a new feature showing the cash they owe Canadians without their know-how. Here is why and how to know: Why Would CRA Owe You? If you have uncashed cheques, Canada Revenue Agency (CRA) automatically owes you money that you never knew about. Here are some reasons as to why they may be owing you money; Failure to update the address Out of forgetfulness failure to update your address (https://globalnews.ca/news/6623878/cra-uncashed-cheques/) can be the primary reason as to why CRA owes you money. If you forgot to update it, it’s high time you checked out if you have any uncashed cheques. Believe that the money was issued to you wrongly Thinking that the money in your account was not meant for you can be a major reason as to why CRA is indebted to you. Lost, stolen or destroyed cheques If by any chance you lost your cheques, destroyed it, or it was stolen. CRA might be owing you. This is because CRA cheques do not become stale-dated…
Electronic payment system Chapter 2 Introduction This chapter is going to give an outline of the literature concerning the electronic payment system and how this advanced system has been used in the market. The research theories presented in this chapter are based on a review of various theoretical models. The chapter also discusses how the revolution in technologies has facilitated the expansion of the cashless transaction systems and the inception of new types of payment instruments. This research subject is based on a review of various literature on previous research. Theories suggested in this study are to show the superiority of the electronic payment system over the conventional method, how it is regarded as a cost-effective alternative to cash for small-value transactions, and as a convenient medium to pay over the internet. At the end of the chapter, hypotheses to the study will be developed for analysis and recommendations to be made. Defining Topic The cashless transaction system is a payment method that involves the transaction of goods and services without cash but preferably through electronic transfer or cheque payment…
Who Should Get the Money? Unless a property is abandoned, a true owner is liable to reclaim the asset. In this case, Grande, a representative of her father, Spann’s estate, is embroiled in a dispute involving $500,000 that was discovered by Cuen, a renovator, during a renovation for the new owners, McCallum and Jennings (Grande v Jennings/McCallum 2). According to the dictates of the law, true owners of a lost or mislaid property, Grande, in this case, can reclaim the possession. Grande should be given the $500,000 that Cuen took. For starters, the cans which contained the cash were voluntarily placed by Robert Spann, meaning that the property was mislaid. The law states that mislaid property belongs to the original owner and that whoever finds the property is simply a caretaker (Miller 637). It is easy to prove that the property was mislaid, given that Spann hid his other fortunes in unlikely places, and Grande and her sister Kim, who knew their father’s wealth-hiding habit, had to destroy sections of the house to recover some items. From this reasoning, Cuen…
Policies to Counter The Great Depression of 1929 Introduction The Great Depression transformed policy-making in the USA. The depression began in 1929 and lasted to 1941, resulting in hardship for millions of citizens, and crippled banks, businesses, and farms (Smiley). The government took legislative activities to remedy the economic downfall of the country. This topic is important to historians because the depression is the most important economic event in history, the policies also reflect the ideals of leaders, and their effectiveness can be scrutinized gauge their effectiveness then and in the present circumstances. Forthwith, the policies touch on farming, social welfare, and regulating the financial business. Although not always successful, the Acts and laws passed by the government to counter the Great Depression, such as Emergency banking Act and New Deal, helped address issues faced by farmers and the general public, and controlled businesses, eventually pulling the country out of depression. 1929: Black Tuesday Black Tuesday, the fourth and final day of the stock market crash, kick-started the collapse of the economy. Black Tuesday, 29th October 1929, was a culmination…
A covered walkway system Are you dreaming of improving your home, or do you have plans to build a new one? Well, you should consider a covered walkway system. Before settling on the best walkway system, you should do thorough research to gather some essential tips on the ideal walkway for your home. Now, when we talk about thorough research, forget about rushing from one shop to another looking for information because this article has your back covered. Here are some essential tips that you should consider when getting a covered walkway system to add style and splendour to your home. Quality To get value for your money, the most vital aspect to consider is the material that you will use to fabricate the walkway. Your walkway should be modified to withstand all harsh weather conditions and protect you from the Ultraviolet rays. Design We want not only a covered walkway but also one that compliments your home. The best walkway should be tailored to accomplish the purpose of your walkway. When choosing the best design, always, it is also…
Gambling & betting as phenomena for Money laundering Prevalence of Gambling Technology has made a substantial impact on gambling over the past decade. Consequently, online gambling has seen significant growth via the availability and convenience of the Internet and through innovative technology that has made remote gambling possible. Online gambling provides comfort and the ability to gamble from home and the workplace (Griffiths, 2009a). The rapid expansion in internet gambling has meant that gambling regulation has often lagged. For instance, online gaming and the lack of management at a European Union level has opened the possibility for the gambling business to be offered to consumers from remote locations. An illustration of this is a large number of gambling operators that reside in Malta, where these operators abide by license requirements, which are imposed by the local Maltese authority, rendering borderless gambling possible (Auer, 2011). This raises concerns about both increased gambling availability and consumer protection. However, new technology has given rise to innovative ways of protecting online gamblers (Harris, 2016). Despite internet gambling often being seen negatively due to its high…