{"appState":{"pageLoadApiCallsStatus":true},"categoryState":{"relatedCategories":{"headers":{"timestamp":"2022-08-15T12:31:18+00:00"},"categoryId":34224,"data":{"title":"Business, Careers, & Money","slug":"business-careers-money","image":{"src":"https://www.dummies.com/wp-content/uploads/business-careers-money-category.jpg","width":643,"height":1286},"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224}],"parentCategory":{"categoryId":0,"title":null,"slug":null,"_links":null},"childCategories":[{"categoryId":34225,"title":"Business","slug":"business","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34225"},"image":{"src":"/img/background-image-2.fabfbd5c.png","width":0,"height":0}},{"categoryId":34256,"title":"Careers","slug":"careers","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34256"},"image":{"src":"/img/background-image-1.daf74cf0.png","width":0,"height":0}},{"categoryId":34273,"title":"Personal Finance","slug":"personal-finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"image":{"src":"/img/background-image-2.fabfbd5c.png","width":0,"height":0}}],"description":"Whether you’re managing a budget, an estate, or a team of professionals, you’ll learn how to achieve your goals with these articles. Covering everything from cryptocurrency to customer service, Dummies can help you move toward your dream job, grow a business, plan for retirement, or keep your finances in shape.","relatedArticles":{"self":"https://dummies-api.dummies.com/v2/articles?category=34224&offset=0&size=5"},"hasArticle":true,"hasBook":true},"_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"}},"relatedCategoriesLoadedStatus":"success"},"listState":{"list":{"count":10,"total":9480,"items":[{"headers":{"creationTime":"2016-03-26T14:45:15+00:00","modifiedTime":"2022-08-11T17:10:57+00:00","timestamp":"2022-08-11T18:01:08+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Business","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34225"},"slug":"business","categoryId":34225},{"name":"Accounting","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34226"},"slug":"accounting","categoryId":34226},{"name":"General Accounting","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34230"},"slug":"general-accounting","categoryId":34230}],"title":"Separable Cost Reduction in Cost Accounting","strippedTitle":"separable cost reduction in cost accounting","slug":"separable-cost-reduction-in-cost-accounting","canonicalUrl":"","seo":{"metaDescription":"In cost accounting, you want to reduce separable costs, when possible. Learn how to figure joint costs and separable cost reduction.","noIndex":0,"noFollow":0},"content":"In cost accounting, the cost of goods available for sale represents the product’s total costs. Total costs have two components — joint costs and separable costs. When possible, you want to reduce separable costs, but first take a look at your company’s joint costs.\r\n\r\nAssume you manufacture leaf blowers. Your two products are heavy-duty blowers and yardwork blowers. The separable costs are $1,200,000 for the heavy-duty blower and $912,000 for the yardwork blower. If you know the separable costs and the cost of goods available for sale, you can compute the joint cost allocation. This table shows the process.\r\n<table><caption>Joint Cost Allocation</caption>\r\n<tbody>\r\n<tr>\r\n<th></th>\r\n<th>Heavy-Duty</th>\r\n<th>Yardwork</th>\r\n<th>Total</th>\r\n</tr>\r\n<tr>\r\n<td>Cost of goods available for sale</td>\r\n<td>$1,751,163</td>\r\n<td>$1,260,837</td>\r\n<td>$3,012,000</td>\r\n</tr>\r\n<tr>\r\n<td>Less separable costs</td>\r\n<td>$1,200,000</td>\r\n<td>$912,000</td>\r\n<td>$2,112,000</td>\r\n</tr>\r\n<tr>\r\n<td><b>Equals joint cost allocation</b></td>\r\n<td><b>$551,163</b></td>\r\n<td><b>$348,837</b></td>\r\n<td><b>$900,000</b></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\nEach company division provides the separable costs. So altogether, this table gives you a joint cost allocation.\r\n\r\nNow assume that the heavy-duty blower division is able to sharply reduce its separable costs to an amazingly low $500,000. The first table listed heavy-duty separable costs of $1,200,000. Consider what now happens to heavy-duty’s joint cost allocation. Take a look at the next table.\r\n<table><caption>Cost Allocation — Less Heavy Duty Separable Costs</caption>\r\n<tbody>\r\n<tr>\r\n<th></th>\r\n<th>Heavy-Duty</th>\r\n<th>Yardwork</th>\r\n<th>Total</th>\r\n</tr>\r\n<tr>\r\n<td>Cost of goods available for sale</td>\r\n<td>$1,751,163</td>\r\n<td>$1,260,837</td>\r\n<td>$3,012,000</td>\r\n</tr>\r\n<tr>\r\n<td>Less separable costs</td>\r\n<td>$500,000</td>\r\n<td>$912,000</td>\r\n<td>$1,412,000</td>\r\n</tr>\r\n<tr>\r\n<td><b>Equals joint cost allocation</b></td>\r\n<td><b>$1,251,163</b></td>\r\n<td><b>$348,837</b></td>\r\n<td><b>$1,600,000</b></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\nHeavy-duty’s joint cost allocation increases to $1,251,163 (from $551,163). That doesn’t seem right. The goal is to analyze costs to reduce or eliminate them. If you do, supposedly you increase your profits.\r\n\r\nIn this case, the heavy-duty division’s reducing separable costs <i>increased</i> its joint cost allocation. There doesn’t seem to be a benefit to operating more efficiently.\r\n\r\nHere’s an explanation: The gross margin percentage method (calculated as gross margin ÷ total sales value x 100) <i>locks</i> in total costs as a percentage of sales value. If the gross margin is about 12.5 percent of sales value, it means that costs must be about 87.5 percent of sales value. For heavy-duty, that 87.5 percent total cost number is $1,751,163. Those costs are either separable or joint costs. If one increases, the other decreases.\r\n\r\nThe heavy-duty manager may have a problem with this process. The manager works hard (using good old cost accounting) to lower the separable costs. The manager’s “reward” is a higher joint cost allocation. The heavy-duty division has lowered costs but doesn’t get any savings in total costs.\r\n\r\nThe constant gross margin percentage method clarifies the revenue and profit calculations company-wide. This method eliminates some of the variation between company divisions. Although some managers may complain, each division has the same gross margin percentage. The process makes managing company profit easier.\r\n<p class=\"Tip\">This is one of those “Here’s why the chief financial officer (CFO) makes the big bucks” moments. As CFO, you explain the gross margin percentage method to the heavy-duty division manager. The goal is to allocate joint costs so that each product maintains the same gross margin percentage of about 12.5 percent. If a division reduces separable costs, it must get a bigger joint cost allocation — <i>otherwise, the gross margin percentage would increase</i>.</p>\r\nNow heavy-duty’s manager should be evaluated based on the successful cost reduction. The manager had a success, and you want to encourage more cost savings. Although the gross margin percentage process requires a bigger joint cost allocation, that must not take away from the manager’s good performance.","description":"In cost accounting, the cost of goods available for sale represents the product’s total costs. Total costs have two components — joint costs and separable costs. When possible, you want to reduce separable costs, but first take a look at your company’s joint costs.\r\n\r\nAssume you manufacture leaf blowers. Your two products are heavy-duty blowers and yardwork blowers. The separable costs are $1,200,000 for the heavy-duty blower and $912,000 for the yardwork blower. If you know the separable costs and the cost of goods available for sale, you can compute the joint cost allocation. This table shows the process.\r\n<table><caption>Joint Cost Allocation</caption>\r\n<tbody>\r\n<tr>\r\n<th></th>\r\n<th>Heavy-Duty</th>\r\n<th>Yardwork</th>\r\n<th>Total</th>\r\n</tr>\r\n<tr>\r\n<td>Cost of goods available for sale</td>\r\n<td>$1,751,163</td>\r\n<td>$1,260,837</td>\r\n<td>$3,012,000</td>\r\n</tr>\r\n<tr>\r\n<td>Less separable costs</td>\r\n<td>$1,200,000</td>\r\n<td>$912,000</td>\r\n<td>$2,112,000</td>\r\n</tr>\r\n<tr>\r\n<td><b>Equals joint cost allocation</b></td>\r\n<td><b>$551,163</b></td>\r\n<td><b>$348,837</b></td>\r\n<td><b>$900,000</b></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\nEach company division provides the separable costs. So altogether, this table gives you a joint cost allocation.\r\n\r\nNow assume that the heavy-duty blower division is able to sharply reduce its separable costs to an amazingly low $500,000. The first table listed heavy-duty separable costs of $1,200,000. Consider what now happens to heavy-duty’s joint cost allocation. Take a look at the next table.\r\n<table><caption>Cost Allocation — Less Heavy Duty Separable Costs</caption>\r\n<tbody>\r\n<tr>\r\n<th></th>\r\n<th>Heavy-Duty</th>\r\n<th>Yardwork</th>\r\n<th>Total</th>\r\n</tr>\r\n<tr>\r\n<td>Cost of goods available for sale</td>\r\n<td>$1,751,163</td>\r\n<td>$1,260,837</td>\r\n<td>$3,012,000</td>\r\n</tr>\r\n<tr>\r\n<td>Less separable costs</td>\r\n<td>$500,000</td>\r\n<td>$912,000</td>\r\n<td>$1,412,000</td>\r\n</tr>\r\n<tr>\r\n<td><b>Equals joint cost allocation</b></td>\r\n<td><b>$1,251,163</b></td>\r\n<td><b>$348,837</b></td>\r\n<td><b>$1,600,000</b></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\nHeavy-duty’s joint cost allocation increases to $1,251,163 (from $551,163). That doesn’t seem right. The goal is to analyze costs to reduce or eliminate them. If you do, supposedly you increase your profits.\r\n\r\nIn this case, the heavy-duty division’s reducing separable costs <i>increased</i> its joint cost allocation. There doesn’t seem to be a benefit to operating more efficiently.\r\n\r\nHere’s an explanation: The gross margin percentage method (calculated as gross margin ÷ total sales value x 100) <i>locks</i> in total costs as a percentage of sales value. If the gross margin is about 12.5 percent of sales value, it means that costs must be about 87.5 percent of sales value. For heavy-duty, that 87.5 percent total cost number is $1,751,163. Those costs are either separable or joint costs. If one increases, the other decreases.\r\n\r\nThe heavy-duty manager may have a problem with this process. The manager works hard (using good old cost accounting) to lower the separable costs. The manager’s “reward” is a higher joint cost allocation. The heavy-duty division has lowered costs but doesn’t get any savings in total costs.\r\n\r\nThe constant gross margin percentage method clarifies the revenue and profit calculations company-wide. This method eliminates some of the variation between company divisions. Although some managers may complain, each division has the same gross margin percentage. The process makes managing company profit easier.\r\n<p class=\"Tip\">This is one of those “Here’s why the chief financial officer (CFO) makes the big bucks” moments. As CFO, you explain the gross margin percentage method to the heavy-duty division manager. The goal is to allocate joint costs so that each product maintains the same gross margin percentage of about 12.5 percent. If a division reduces separable costs, it must get a bigger joint cost allocation — <i>otherwise, the gross margin percentage would increase</i>.</p>\r\nNow heavy-duty’s manager should be evaluated based on the successful cost reduction. The manager had a success, and you want to encourage more cost savings. Although the gross margin percentage process requires a bigger joint cost allocation, that must not take away from the manager’s good performance.","blurb":"","authors":[{"authorId":9050,"name":"Kenneth Boyd","slug":"kenneth-boyd","description":"Ken Boyd, a former CPA, has more than 37 years of experience in accounting, education, and financial services. He is the owner of Accounting Accidentally (<a href=\"https://www.accountingaccidentally.com/\" target=\"_blank\" rel=\"noopener\">www.accountingaccidentally.com</a>), which provides written and video content on accounting, personal finance, and entrepreneurship topics. His YouTube channel (<a href=\"https://www.youtube.com/user/kenboydstl\" target=\"_blank\" rel=\"noopener\">kenboydstl</a>) has hundreds of videos on accounting and finance.\r\n\r\nIn recent years, Boyd has served as an adjunct professor of accounting at the Cook School of Business at St. Louis University. He has written hundreds of articles for QuickBooks, Investopedia, and a number of other publications.","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9050"}}],"primaryCategoryTaxonomy":{"categoryId":34230,"title":"General Accounting","slug":"general-accounting","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34230"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":208104,"title":"Cost Accounting For Dummies Cheat Sheet","slug":"cost-accounting-for-dummies-cheat-sheet","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208104"}},{"articleId":171024,"title":"Must Know Formulas for Cost Accounting","slug":"must-know-formulas-for-cost-accounting","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/171024"}},{"articleId":171020,"title":"Important Terms and Principles Cost Accountants Should Know","slug":"important-terms-and-principles-cost-accountants-should-know","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/171020"}},{"articleId":171019,"title":"Avoiding Pitfalls on Cost Accounting Exams","slug":"avoiding-pitfalls-on-cost-accounting-exams","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/171019"}},{"articleId":166828,"title":"Accrual Accounting in Cost Accounting","slug":"accrual-accounting-in-cost-accounting","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/166828"}}],"fromCategory":[{"articleId":277438,"title":"Financial Accounting: The Effect of Business Transactions","slug":"financial-accounting-the-effect-of-business-transactions","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277438"}},{"articleId":277429,"title":"What Are Accounting Journals?","slug":"what-are-accounting-journals","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277429"}},{"articleId":277423,"title":"How to Read Corporate Annual Reports","slug":"how-to-read-corporate-annual-reports","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277423"}},{"articleId":277418,"title":"Showing the Money: The Statement of Cash Flows","slug":"showing-the-money-the-statement-of-cash-flows","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277418"}},{"articleId":277410,"title":"10 Accounting Career Opportunities","slug":"10-accounting-career-opportunities","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277410"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282119,"slug":"cost-accounting-for-dummies","isbn":"9781119856023","categoryList":["business-careers-money","business","accounting","general-accounting"],"amazon":{"default":"https://www.amazon.com/gp/product/1119856027/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1119856027/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1119856027-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1119856027/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1119856027/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/9781119856023-203x255.jpg","width":203,"height":255},"title":"Cost Accounting For Dummies, 2nd Edition","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><p><b><b data-author-id=\"34810\">Kenneth W. Boyd</b></b> has 30 years of experience in accounting and financial services. He is a four&#45;time Dummies book author, a blogger, and a video host on accounting and finance topics.</p>","authors":[{"authorId":34810,"name":"Kenneth W. Boyd","slug":"kenneth-w-boyd","description":" <p><b>Kenneth W. Boyd</b> has 30 years of experience in accounting and financial services. He is a four&#45;time Dummies book author, a blogger, and a video host on accounting and finance topics. ","_links":{"self":"https://dummies-api.dummies.com/v2/authors/34810"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;accounting&quot;,&quot;general-accounting&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119856023&quot;]}]\" id=\"du-slot-62f543e45387a\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;accounting&quot;,&quot;general-accounting&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119856023&quot;]}]\" id=\"du-slot-62f543e454193\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Five years","lifeExpectancySetFrom":"2022-08-11T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":164989},{"headers":{"creationTime":"2016-03-26T14:45:17+00:00","modifiedTime":"2022-08-11T17:07:36+00:00","timestamp":"2022-08-11T18:01:08+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Business","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34225"},"slug":"business","categoryId":34225},{"name":"Accounting","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34226"},"slug":"accounting","categoryId":34226},{"name":"General Accounting","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34230"},"slug":"general-accounting","categoryId":34230}],"title":"Cost Accounting: Joint Cost Allocation and Gross Margin Percentage","strippedTitle":"cost accounting: joint cost allocation and gross margin percentage","slug":"cost-accounting-joint-cost-allocation-and-gross-margin-percentage","canonicalUrl":"","seo":{"metaDescription":"In cost accounting, if you know the separable costs and costs of goods for sale, you can calculate joint cost allocation. Here's how.","noIndex":0,"noFollow":0},"content":"In cost accounting, the cost of goods available for sale represents the product’s total costs. Total costs have two components — joint costs and separable costs.\r\n\r\nAssume the <i>cost of goods</i><i> available for sale</i> are $1,751,163 and $1,260,837 for the heavy-duty blower and the yardwork blower. Say the <i>separable costs</i> are $1,200,000 and $912,000. If you know the separable costs and the cost of goods available for sale, you can compute the joint cost allocation. The first table shows the process.\r\n<table><caption>Joint Cost Allocation</caption>\r\n<tbody>\r\n<tr>\r\n<th></th>\r\n<th>Heavy-Duty</th>\r\n<th>Yardwork</th>\r\n<th>Total</th>\r\n</tr>\r\n<tr>\r\n<td>Cost of goods available for sale</td>\r\n<td>$1,751,163</td>\r\n<td>$1,260,837</td>\r\n<td>$3,012,000</td>\r\n</tr>\r\n<tr>\r\n<td>Less separable costs</td>\r\n<td>$1,200,000</td>\r\n<td>$912,000</td>\r\n<td>$2,112,000</td>\r\n</tr>\r\n<tr>\r\n<td><b>Equals joint cost allocation</b></td>\r\n<td><b>$551,163</b></td>\r\n<td><b>$348,837</b></td>\r\n<td><b>$900,000</b></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\nEach company division provides the separable costs. So altogether, the table gives you a joint cost allocation.\r\n\r\nNow calculate the <i>gross margin percentage</i>. Say your <i>sales values</i> are $2,000,00 and $1,440,000 for heavy-duty and yardwork blowers. The total cost is the cost of goods available for sale from the first table. The gross margin percentage is the gross margin divided by the sales value. For each product, the gross margin percentage is the same (12.442 percent) as the company’s overall gross margin.\r\n<table><caption>Verifying Gross Margin Percentage</caption>\r\n<tbody>\r\n<tr>\r\n<th></th>\r\n<th>Heavy-Duty</th>\r\n<th>Yardwork</th>\r\n<th>Total</th>\r\n</tr>\r\n<tr>\r\n<td>Sales value (<i>A</i>)</td>\r\n<td>$2,000,000</td>\r\n<td>$1,440,000</td>\r\n<td>$3,440,000</td>\r\n</tr>\r\n<tr>\r\n<td>Total cost (<i>B</i>)</td>\r\n<td>$1,751,163</td>\r\n<td>$1,260,837</td>\r\n<td>$3,012,000</td>\r\n</tr>\r\n<tr>\r\n<td><b>Gross margin (</b><b><i>A</i></b> <b>–</b>\r\n<b><i>B</i></b><b>)</b></td>\r\n<td><b>$248,837</b></td>\r\n<td><b>$179,163</b></td>\r\n<td><b>$428,000</b></td>\r\n</tr>\r\n<tr>\r\n<td>Gross margin percentage</td>\r\n<td>12.442</td>\r\n<td>12.442</td>\r\n<td></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\nHere’s the point of this table: it uses the traditional formula to compute gross margin and gross margin percentage. The table verifies that the calculations are correct.\r\n\r\nIf the heavy-duty product has the higher sales value, it ends up with a higher gross margin in dollars than the yardwork product. However, both sale values are multiplied by the same gross margin percentage. Both products have a gross margin of about 12.5 percent (rounded). That means that about 87.5 percent of sales value represents cost of goods available for sale.","description":"In cost accounting, the cost of goods available for sale represents the product’s total costs. Total costs have two components — joint costs and separable costs.\r\n\r\nAssume the <i>cost of goods</i><i> available for sale</i> are $1,751,163 and $1,260,837 for the heavy-duty blower and the yardwork blower. Say the <i>separable costs</i> are $1,200,000 and $912,000. If you know the separable costs and the cost of goods available for sale, you can compute the joint cost allocation. The first table shows the process.\r\n<table><caption>Joint Cost Allocation</caption>\r\n<tbody>\r\n<tr>\r\n<th></th>\r\n<th>Heavy-Duty</th>\r\n<th>Yardwork</th>\r\n<th>Total</th>\r\n</tr>\r\n<tr>\r\n<td>Cost of goods available for sale</td>\r\n<td>$1,751,163</td>\r\n<td>$1,260,837</td>\r\n<td>$3,012,000</td>\r\n</tr>\r\n<tr>\r\n<td>Less separable costs</td>\r\n<td>$1,200,000</td>\r\n<td>$912,000</td>\r\n<td>$2,112,000</td>\r\n</tr>\r\n<tr>\r\n<td><b>Equals joint cost allocation</b></td>\r\n<td><b>$551,163</b></td>\r\n<td><b>$348,837</b></td>\r\n<td><b>$900,000</b></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\nEach company division provides the separable costs. So altogether, the table gives you a joint cost allocation.\r\n\r\nNow calculate the <i>gross margin percentage</i>. Say your <i>sales values</i> are $2,000,00 and $1,440,000 for heavy-duty and yardwork blowers. The total cost is the cost of goods available for sale from the first table. The gross margin percentage is the gross margin divided by the sales value. For each product, the gross margin percentage is the same (12.442 percent) as the company’s overall gross margin.\r\n<table><caption>Verifying Gross Margin Percentage</caption>\r\n<tbody>\r\n<tr>\r\n<th></th>\r\n<th>Heavy-Duty</th>\r\n<th>Yardwork</th>\r\n<th>Total</th>\r\n</tr>\r\n<tr>\r\n<td>Sales value (<i>A</i>)</td>\r\n<td>$2,000,000</td>\r\n<td>$1,440,000</td>\r\n<td>$3,440,000</td>\r\n</tr>\r\n<tr>\r\n<td>Total cost (<i>B</i>)</td>\r\n<td>$1,751,163</td>\r\n<td>$1,260,837</td>\r\n<td>$3,012,000</td>\r\n</tr>\r\n<tr>\r\n<td><b>Gross margin (</b><b><i>A</i></b> <b>–</b>\r\n<b><i>B</i></b><b>)</b></td>\r\n<td><b>$248,837</b></td>\r\n<td><b>$179,163</b></td>\r\n<td><b>$428,000</b></td>\r\n</tr>\r\n<tr>\r\n<td>Gross margin percentage</td>\r\n<td>12.442</td>\r\n<td>12.442</td>\r\n<td></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\nHere’s the point of this table: it uses the traditional formula to compute gross margin and gross margin percentage. The table verifies that the calculations are correct.\r\n\r\nIf the heavy-duty product has the higher sales value, it ends up with a higher gross margin in dollars than the yardwork product. However, both sale values are multiplied by the same gross margin percentage. Both products have a gross margin of about 12.5 percent (rounded). That means that about 87.5 percent of sales value represents cost of goods available for sale.","blurb":"","authors":[{"authorId":9050,"name":"Kenneth Boyd","slug":"kenneth-boyd","description":"Ken Boyd, a former CPA, has more than 37 years of experience in accounting, education, and financial services. He is the owner of Accounting Accidentally (<a href=\"https://www.accountingaccidentally.com/\" target=\"_blank\" rel=\"noopener\">www.accountingaccidentally.com</a>), which provides written and video content on accounting, personal finance, and entrepreneurship topics. His YouTube channel (<a href=\"https://www.youtube.com/user/kenboydstl\" target=\"_blank\" rel=\"noopener\">kenboydstl</a>) has hundreds of videos on accounting and finance.\r\n\r\nIn recent years, Boyd has served as an adjunct professor of accounting at the Cook School of Business at St. Louis University. He has written hundreds of articles for QuickBooks, Investopedia, and a number of other publications.","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9050"}}],"primaryCategoryTaxonomy":{"categoryId":34230,"title":"General Accounting","slug":"general-accounting","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34230"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":208104,"title":"Cost Accounting For Dummies Cheat Sheet","slug":"cost-accounting-for-dummies-cheat-sheet","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208104"}},{"articleId":171024,"title":"Must Know Formulas for Cost Accounting","slug":"must-know-formulas-for-cost-accounting","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/171024"}},{"articleId":171020,"title":"Important Terms and Principles Cost Accountants Should Know","slug":"important-terms-and-principles-cost-accountants-should-know","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/171020"}},{"articleId":171019,"title":"Avoiding Pitfalls on Cost Accounting Exams","slug":"avoiding-pitfalls-on-cost-accounting-exams","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/171019"}},{"articleId":166828,"title":"Accrual Accounting in Cost Accounting","slug":"accrual-accounting-in-cost-accounting","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/166828"}}],"fromCategory":[{"articleId":277438,"title":"Financial Accounting: The Effect of Business Transactions","slug":"financial-accounting-the-effect-of-business-transactions","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277438"}},{"articleId":277429,"title":"What Are Accounting Journals?","slug":"what-are-accounting-journals","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277429"}},{"articleId":277423,"title":"How to Read Corporate Annual Reports","slug":"how-to-read-corporate-annual-reports","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277423"}},{"articleId":277418,"title":"Showing the Money: The Statement of Cash Flows","slug":"showing-the-money-the-statement-of-cash-flows","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277418"}},{"articleId":277410,"title":"10 Accounting Career Opportunities","slug":"10-accounting-career-opportunities","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277410"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282119,"slug":"cost-accounting-for-dummies","isbn":"9781119856023","categoryList":["business-careers-money","business","accounting","general-accounting"],"amazon":{"default":"https://www.amazon.com/gp/product/1119856027/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1119856027/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1119856027-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1119856027/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1119856027/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/9781119856023-203x255.jpg","width":203,"height":255},"title":"Cost Accounting For Dummies, 2nd Edition","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><p><b><b data-author-id=\"34810\">Kenneth W. Boyd</b></b> has 30 years of experience in accounting and financial services. He is a four&#45;time Dummies book author, a blogger, and a video host on accounting and finance topics.</p>","authors":[{"authorId":34810,"name":"Kenneth W. Boyd","slug":"kenneth-w-boyd","description":" <p><b>Kenneth W. Boyd</b> has 30 years of experience in accounting and financial services. He is a four&#45;time Dummies book author, a blogger, and a video host on accounting and finance topics. ","_links":{"self":"https://dummies-api.dummies.com/v2/authors/34810"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;accounting&quot;,&quot;general-accounting&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119856023&quot;]}]\" id=\"du-slot-62f543e44984b\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;accounting&quot;,&quot;general-accounting&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119856023&quot;]}]\" id=\"du-slot-62f543e44a0cd\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Five years","lifeExpectancySetFrom":"2022-08-11T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":164995},{"headers":{"creationTime":"2016-03-26T11:02:51+00:00","modifiedTime":"2022-08-10T19:54:15+00:00","timestamp":"2022-08-11T00:01:11+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Careers","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34256"},"slug":"careers","categoryId":34256},{"name":"General Careers","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34272"},"slug":"general-careers","categoryId":34272}],"title":"How to Develop Your Unique Promise of Value and Personal Brand Statement","strippedTitle":"how to develop your unique promise of value and personal brand statement","slug":"how-to-develop-your-unique-promise-of-value-and-personal-brand-statement","canonicalUrl":"","seo":{"metaDescription":"Learn how to create a promise of value and personal brand statement that communicates the value you can deliver.","noIndex":0,"noFollow":0},"content":"Your unique promise of value and your personal brand statement are closely linked; the statement is an expression of the promise. Both of them focus on what your target audience expects from you; they create an expectation of what you can deliver.\r\n<p class=\"Remember\">These pieces of your personal brand profile are probably the most important (no pressure!), so you want to take your time and get them right before you start to communicate with your target audience.</p>\r\n\r\n<h2 id=\"tab1\" >Identifying your unique promise of value</h2>\r\nYour <i>unique promise of value</i> is a promise that you make to your target market that your brand will fulfill. It’s the personal aspect of your brand that is aligned with your mission and values. Your promise of value is the essence of what you have to offer and guides you in how you live your personal brand.\r\n\r\nIt clarifies and communicates what makes you special — what makes you different from other people. Crafting this promise requires understanding your values, interests, strengths, and personal qualities and using them to distinguish yourself.\r\n\r\nLida Citroën, in her book <i>Reputation 360</i> (Palisades Publishing), offers this advice when crafting your brand promise:\r\n<blockquote>Your brand promise should look something like this: “In order to be known for (your desired brand qualities), I will hold myself out to others in this way: (your behavior, actions, attitude); and I will demonstrate authenticity in this way: (how you will let people see you as real, genuine). I will know my brand promise is working when I see this: (benefits, goals you hope to achieve).”</blockquote>\r\n<p class=\"Remember\">You must be able to live up to your promise of value. You’re always better off under-promising and over-delivering to those you serve. Your brand promise is what you want to be known for. It can be the promise of value of who you are today or it can be written as who you aspire to become.</p>\r\nHere’s an example of a unique promise of value:\r\n<blockquote>I am known for my creativity, enthusiasm, and intelligence by serving each client with respect, giving them individual attention, and treating them with unconditional positive regard. I am an expert in my field and use my knowledge to help my clients and students excel. My clients appreciate my solid, grounded approach during times of transition and trust my guidance through the process.</blockquote>\r\n<h2 id=\"tab2\" >Move from your promise to your personal brand statement</h2>\r\nAfter you’re satisfied with what you’ve developed as your unique promise of value, you can turn your attention to writing the all-important personal brand statement.\r\n<p class=\"Tip\">When you work on your own statement, keep in mind the central themes that emerge and think about your attributes. Then, envision your best self!</p>\r\nTo begin your thought process on what your brand might include, answer the following questions:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">What three or four keywords describe your essential qualities quickly and clearly?</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">What is your <i>essence factor,</i> the core of who you are? “I know I am in my element when __________.”</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">What is your <i>authority factor,</i> the knowledge that you hold and skills that you possess? “People recognize my expertise in _________.”</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">What is your <i>superstar factor,</i> the qualities that set you apart? (This factor is how you get things done or what you’re known for.) “People comment on my ability to ___________.”</p>\r\n</li>\r\n</ul>\r\n<h3>Pepper your statement with “wow” words</h3>\r\nWhen writing your personal brand statement, you want to use words that best describe what you offer. The words you use should highlight your emotional attributes and motivate you so that you can deliver that brand to your target audience.\r\n\r\nThen, to communicate the action in your message, add key verbs like the ones listed here.\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td>Accomplish</td>\r\n<td>Analyze</td>\r\n<td>Articulate</td>\r\n<td>Budget</td>\r\n</tr>\r\n<tr>\r\n<td>Calculate</td>\r\n<td>Capitalize</td>\r\n<td>Classify</td>\r\n<td>Close</td>\r\n</tr>\r\n<tr>\r\n<td>Collaborate</td>\r\n<td>Communicate</td>\r\n<td>Conceptualize</td>\r\n<td>Conclude</td>\r\n</tr>\r\n<tr>\r\n<td>Decrease</td>\r\n<td>Demonstrate</td>\r\n<td>Distribute</td>\r\n<td>Educate</td>\r\n</tr>\r\n<tr>\r\n<td>Empower</td>\r\n<td>Engineer</td>\r\n<td>Enhance</td>\r\n<td>Examine</td>\r\n</tr>\r\n<tr>\r\n<td>Exceed</td>\r\n<td>Generate</td>\r\n<td>Identify</td>\r\n<td>Influence</td>\r\n</tr>\r\n<tr>\r\n<td>Integrate</td>\r\n<td>Listen</td>\r\n<td>Manufacture</td>\r\n<td>Mastermind</td>\r\n</tr>\r\n<tr>\r\n<td>Maximize</td>\r\n<td>Navigate</td>\r\n<td>Network</td>\r\n<td>Organize</td>\r\n</tr>\r\n<tr>\r\n<td>Pilot</td>\r\n<td>Pioneer</td>\r\n<td>Prospect</td>\r\n<td>Rebuild</td>\r\n</tr>\r\n<tr>\r\n<td>Redesign</td>\r\n<td>Reengineer</td>\r\n<td>Rehabilitate</td>\r\n<td>Simplify</td>\r\n</tr>\r\n<tr>\r\n<td>Slash</td>\r\n<td>Sold</td>\r\n<td>Strategize</td>\r\n<td>Supervise</td>\r\n</tr>\r\n<tr>\r\n<td>Systematize</td>\r\n<td>Teach</td>\r\n<td>Transition</td>\r\n<td>Upgrade</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<h3>Drafting your statement</h3>\r\nTo give you a sense of what a personal brand statement could look like, here are examples:\r\n<ul>\r\n \t<li>I am passionate about the development of people and am able to lighten the mood with my humor. I enjoy bringing that competitive spirit to solving my clients’ key advertising problems. The continuous challenge to learn fuels my love of accumulating knowledge.</li>\r\n \t<li>Driven by the energy of connections to others, I apply my solid intelligence as the interpreter of complex issues to create practical solutions while bringing a sense of fun into every situation.</li>\r\n \t<li>Grounded in my core beliefs, I identify the patterns and am able to look strategically into the future with a global perspective.</li>\r\n \t<li>Analyzing the DNA blueprint for my clients, I act as the bond between science and business to find opportunities by joining people and businesses through unique value-added insights.</li>\r\n \t<li>Acting as the conductor to the orchestra of people that I lead, I bring the pieces together to close</li>\r\n \t<li>I am the visionary sales leader of the South American practice. my customers count on me to navigate the complexities of multinational business. I am admired for not only how I lead my high-growth business but also for my work in the community in creating pathways out of poverty for those that I serve.</li>\r\n</ul>\r\nMy own statement reads this way:\r\n<blockquote>I bring creativity and enthusiasm into the lives of professionals using my expertise in career development and personal branding with an intelligent, customized approach.</blockquote>\r\nGather keywords to use as a starting point for writing your statement, and then let it simmer until you know how you want to express yourself.","description":"Your unique promise of value and your personal brand statement are closely linked; the statement is an expression of the promise. Both of them focus on what your target audience expects from you; they create an expectation of what you can deliver.\r\n<p class=\"Remember\">These pieces of your personal brand profile are probably the most important (no pressure!), so you want to take your time and get them right before you start to communicate with your target audience.</p>\r\n\r\n<h2 id=\"tab1\" >Identifying your unique promise of value</h2>\r\nYour <i>unique promise of value</i> is a promise that you make to your target market that your brand will fulfill. It’s the personal aspect of your brand that is aligned with your mission and values. Your promise of value is the essence of what you have to offer and guides you in how you live your personal brand.\r\n\r\nIt clarifies and communicates what makes you special — what makes you different from other people. Crafting this promise requires understanding your values, interests, strengths, and personal qualities and using them to distinguish yourself.\r\n\r\nLida Citroën, in her book <i>Reputation 360</i> (Palisades Publishing), offers this advice when crafting your brand promise:\r\n<blockquote>Your brand promise should look something like this: “In order to be known for (your desired brand qualities), I will hold myself out to others in this way: (your behavior, actions, attitude); and I will demonstrate authenticity in this way: (how you will let people see you as real, genuine). I will know my brand promise is working when I see this: (benefits, goals you hope to achieve).”</blockquote>\r\n<p class=\"Remember\">You must be able to live up to your promise of value. You’re always better off under-promising and over-delivering to those you serve. Your brand promise is what you want to be known for. It can be the promise of value of who you are today or it can be written as who you aspire to become.</p>\r\nHere’s an example of a unique promise of value:\r\n<blockquote>I am known for my creativity, enthusiasm, and intelligence by serving each client with respect, giving them individual attention, and treating them with unconditional positive regard. I am an expert in my field and use my knowledge to help my clients and students excel. My clients appreciate my solid, grounded approach during times of transition and trust my guidance through the process.</blockquote>\r\n<h2 id=\"tab2\" >Move from your promise to your personal brand statement</h2>\r\nAfter you’re satisfied with what you’ve developed as your unique promise of value, you can turn your attention to writing the all-important personal brand statement.\r\n<p class=\"Tip\">When you work on your own statement, keep in mind the central themes that emerge and think about your attributes. Then, envision your best self!</p>\r\nTo begin your thought process on what your brand might include, answer the following questions:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">What three or four keywords describe your essential qualities quickly and clearly?</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">What is your <i>essence factor,</i> the core of who you are? “I know I am in my element when __________.”</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">What is your <i>authority factor,</i> the knowledge that you hold and skills that you possess? “People recognize my expertise in _________.”</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">What is your <i>superstar factor,</i> the qualities that set you apart? (This factor is how you get things done or what you’re known for.) “People comment on my ability to ___________.”</p>\r\n</li>\r\n</ul>\r\n<h3>Pepper your statement with “wow” words</h3>\r\nWhen writing your personal brand statement, you want to use words that best describe what you offer. The words you use should highlight your emotional attributes and motivate you so that you can deliver that brand to your target audience.\r\n\r\nThen, to communicate the action in your message, add key verbs like the ones listed here.\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td>Accomplish</td>\r\n<td>Analyze</td>\r\n<td>Articulate</td>\r\n<td>Budget</td>\r\n</tr>\r\n<tr>\r\n<td>Calculate</td>\r\n<td>Capitalize</td>\r\n<td>Classify</td>\r\n<td>Close</td>\r\n</tr>\r\n<tr>\r\n<td>Collaborate</td>\r\n<td>Communicate</td>\r\n<td>Conceptualize</td>\r\n<td>Conclude</td>\r\n</tr>\r\n<tr>\r\n<td>Decrease</td>\r\n<td>Demonstrate</td>\r\n<td>Distribute</td>\r\n<td>Educate</td>\r\n</tr>\r\n<tr>\r\n<td>Empower</td>\r\n<td>Engineer</td>\r\n<td>Enhance</td>\r\n<td>Examine</td>\r\n</tr>\r\n<tr>\r\n<td>Exceed</td>\r\n<td>Generate</td>\r\n<td>Identify</td>\r\n<td>Influence</td>\r\n</tr>\r\n<tr>\r\n<td>Integrate</td>\r\n<td>Listen</td>\r\n<td>Manufacture</td>\r\n<td>Mastermind</td>\r\n</tr>\r\n<tr>\r\n<td>Maximize</td>\r\n<td>Navigate</td>\r\n<td>Network</td>\r\n<td>Organize</td>\r\n</tr>\r\n<tr>\r\n<td>Pilot</td>\r\n<td>Pioneer</td>\r\n<td>Prospect</td>\r\n<td>Rebuild</td>\r\n</tr>\r\n<tr>\r\n<td>Redesign</td>\r\n<td>Reengineer</td>\r\n<td>Rehabilitate</td>\r\n<td>Simplify</td>\r\n</tr>\r\n<tr>\r\n<td>Slash</td>\r\n<td>Sold</td>\r\n<td>Strategize</td>\r\n<td>Supervise</td>\r\n</tr>\r\n<tr>\r\n<td>Systematize</td>\r\n<td>Teach</td>\r\n<td>Transition</td>\r\n<td>Upgrade</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n<h3>Drafting your statement</h3>\r\nTo give you a sense of what a personal brand statement could look like, here are examples:\r\n<ul>\r\n \t<li>I am passionate about the development of people and am able to lighten the mood with my humor. I enjoy bringing that competitive spirit to solving my clients’ key advertising problems. The continuous challenge to learn fuels my love of accumulating knowledge.</li>\r\n \t<li>Driven by the energy of connections to others, I apply my solid intelligence as the interpreter of complex issues to create practical solutions while bringing a sense of fun into every situation.</li>\r\n \t<li>Grounded in my core beliefs, I identify the patterns and am able to look strategically into the future with a global perspective.</li>\r\n \t<li>Analyzing the DNA blueprint for my clients, I act as the bond between science and business to find opportunities by joining people and businesses through unique value-added insights.</li>\r\n \t<li>Acting as the conductor to the orchestra of people that I lead, I bring the pieces together to close</li>\r\n \t<li>I am the visionary sales leader of the South American practice. my customers count on me to navigate the complexities of multinational business. I am admired for not only how I lead my high-growth business but also for my work in the community in creating pathways out of poverty for those that I serve.</li>\r\n</ul>\r\nMy own statement reads this way:\r\n<blockquote>I bring creativity and enthusiasm into the lives of professionals using my expertise in career development and personal branding with an intelligent, customized approach.</blockquote>\r\nGather keywords to use as a starting point for writing your statement, and then let it simmer until you know how you want to express yourself.","blurb":"","authors":[{"authorId":9407,"name":"Susan Chritton","slug":"susan-chritton","description":" <p><b>Susan Chritton</b> is a Master Personal Brand Strategist, Executive Career Coach, and Master Career Counselor. She guides professionals looking to engage their authentic self in the world through personal branding. Visit her website at www.susanchritton.com.</p>","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9407"}}],"primaryCategoryTaxonomy":{"categoryId":34272,"title":"General Careers","slug":"general-careers","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34272"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[{"label":"Identifying your unique promise of value","target":"#tab1"},{"label":"Move from your promise to your personal brand statement","target":"#tab2"}],"relatedArticles":{"fromBook":[{"articleId":207677,"title":"Personal Branding For Dummies Cheat Sheet","slug":"personal-branding-for-dummies-cheat-sheet","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/207677"}},{"articleId":172067,"title":"Personal Branding for Women: Highlighting Strengths","slug":"personal-branding-for-women-highlighting-strengths","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/172067"}},{"articleId":172012,"title":"Design Your Personal Logo","slug":"design-your-personal-logo","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/172012"}},{"articleId":152332,"title":"Building Your Personal Brand","slug":"building-your-personal-brand","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/152332"}},{"articleId":152323,"title":"Reaching Your Target Market","slug":"reaching-your-target-market","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/152323"}}],"fromCategory":[{"articleId":273721,"title":"How to Manage Virtual Teams","slug":"how-to-manage-virtual-teams","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/273721"}},{"articleId":273709,"title":"How to Create a New Zoom Account","slug":"how-to-create-a-new-zoom-account","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/273709"}},{"articleId":273704,"title":"Text-Only Communication in the Virtual Workplace","slug":"text-only-communication-in-the-virtual-workplace","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/273704"}},{"articleId":273697,"title":"Working from Home: Setting Healthy Boundaries","slug":"working-from-home-setting-healthy-boundaries","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/273697"}},{"articleId":273692,"title":"How to Build a Connection Culture When Working from Home","slug":"how-to-build-a-connection-culture-when-working-from-home","categoryList":["business-careers-money","careers","general-careers"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/273692"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282455,"slug":"personal-branding-for-dummies-2nd-edition","isbn":"9781118915554","categoryList":["business-careers-money","careers","general-careers"],"amazon":{"default":"https://www.amazon.com/gp/product/1118915550/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1118915550/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1118915550-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1118915550/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1118915550/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/personal-branding-for-dummies-2nd-edition-cover-9781118915554-203x255.jpg","width":203,"height":255},"title":"Personal Branding For Dummies","testBankPinActivationLink":"","bookOutOfPrint":false,"authorsInfo":"<p><b data-author-id=\"9407\">Susan Chritton</b> is a Master Personal Brand Strategist, Executive Career Coach, and Master Career Counselor. She guides professionals looking to engage their authentic self in the world through personal branding. Visit her website at www.susanchritton.com.</p>","authors":[{"authorId":9407,"name":"Susan Chritton","slug":"susan-chritton","description":" <p><b>Susan Chritton</b> is a Master Personal Brand Strategist, Executive Career Coach, and Master Career Counselor. She guides professionals looking to engage their authentic self in the world through personal branding. Visit her website at www.susanchritton.com.</p>","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9407"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;careers&quot;,&quot;general-careers&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118915554&quot;]}]\" id=\"du-slot-62f446c7b928a\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;careers&quot;,&quot;general-careers&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118915554&quot;]}]\" id=\"du-slot-62f446c7b9ab6\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2022-08-10T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":150106},{"headers":{"creationTime":"2016-03-26T13:43:58+00:00","modifiedTime":"2022-08-04T19:37:39+00:00","timestamp":"2022-08-05T00:01:09+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Medicare","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34084"},"slug":"medicare","categoryId":34084}],"title":"How to Opt Out of Medicare Part B","strippedTitle":"how to opt out of medicare part b","slug":"how-to-opt-out-of-medicare-part-b","canonicalUrl":"","seo":{"metaDescription":"Even though you have to pay a monthly premium for Medicare Part B, you should think twice about opting out of coverage.","noIndex":0,"noFollow":0},"content":"Medicare Part B covers two kinds of health services: medically necessary care and preventive care.\r\n\r\nYou need to think twice about saying no to Medicare Part B coverage, even though it costs a monthly premium to use it. (If that amount would be a hardship, you may be able to have the premiums paid by your state.) It’s an important decision you need to make during the enrollment process — especially if you’re signed up automatically — and you should be very clear on how to deal with it given your situation.\r\n\r\nThere are situations when opting out of Part B is okay — in other words, not likely to cause you any regrets (or cost you money!) in the future. And there are situations when opting out is costly or causes other problems.\r\n\r\nBizarrely, the rules are different for people who have <a href=\"https://www.dummies.com/personal-finance/insurance/health-insurance/medicare-for-dummies-cheat-sheet/\" target=\"_blank\" rel=\"noopener\">Medicare</a> because they’re 65 or older and those who have it at earlier ages because of a disability. So look separately at these two groups to know when people in each can confidently turn down Part B.\r\n<h2 id=\"tab1\" >Know when to turn down Part B if you’re 65 or older</h2>\r\n<p class=\"Remember\">In general, when you’re 65 or older, you should decline Part B only if you have group health insurance from an employer for whom you or your spouse is still actively working and that insurance is <i>primary</i> to Medicare. (That is, it pays before Medicare does.)</p>\r\nIn this situation, you can delay Part B enrollment without penalty until the employment stops or the insurance ends. So if you’re not yet drawing Social Security retirement benefits, just skip signing up for Part B.\r\n\r\nOr if you’re enrolled automatically because you’re receiving those benefits, you can decline Part B by following the instructions that Social Security sends you in the letter that accompanies your Medicare card and meeting the specified deadline.\r\n\r\nOpting out ensures that you don’t have to pay Part B premiums or, if you’re receiving retirement benefits, have them deducted each month from your Social Security retirement check. But of course, if you prefer to pay for both employer insurance and Medicare coverage — and that’s entirely your choice — go ahead and enroll (or stay enrolled) in Part B.\r\n<p class=\"Warning\">One group of people is especially prone to turn down Part B without giving it adequate thought: people age 65 and older who are in same-sex marriages or domestic arrangements with people of the same or the opposite sex and who are covered under health insurance from their partner’s employer. If you’re in either of these situations, you need to find out exactly how current law applies to you.</p>\r\n\r\n<h2 id=\"tab2\" >When to turn down Part B if you’re under 65</h2>\r\nIn general, if you have Medicare based on disability, you should decline Part B only if\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">You have health insurance from an employer for whom you or your spouse actively works, and the employer has 100 or more employees.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">You’re covered as a family member on somebody else’s group health plan at work, and the employer has 100 or more employees.</p>\r\n</li>\r\n</ul>\r\nWhat does <i>family member</i> mean? It means that the employer providing this insurance regards you as eligible for health coverage based on your domestic relationship with an employee — even if you aren’t formally married to that person and even if they are the same sex as you.\r\n<h2 id=\"tab3\" >When turning down Part B at any age is risky</h2>\r\nRegardless of whether you have Medicare based on disability or age, you should definitely enroll in Part B (or not refuse it) if you have health insurance that will automatically become <i>secondary</i> to Medicare (it will pay after Medicare does) when your Medicare benefits begin. This includes the following:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">Health insurance that you buy yourself on the open insurance market and that isn’t provided by an employer</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Health insurance from an employer with fewer than 20 employees (if you’re 65 or older)</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Health insurance from an employer with fewer than 100 employees (if you have Medicare because of disability)</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Retiree benefits from a former employer (your own or your spouse’s)</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Health benefits from the military’s TRICARE For Life retiree program</p>\r\n</li>\r\n</ul>\r\n<h2 id=\"tab4\" >When Medicare is primary coverage, it pays the bills</h2>\r\nYou should enroll in Part B coverage in the preceding situations for a very good reason quite apart from the possibilities of late penalties down the road if you don’t. When Medicare is considered primary coverage, it pays your medical bills first.\r\n\r\nSo if you’re not enrolled in Part B, you run the real risk of having your insurance plan deny any claims that Medicare could’ve paid — from basic ones like doctors’ visits and lab tests to major ones like surgery. In other words, you may face having to pay the entire bill.\r\n\r\nWorse, if your own insurer takes a while to realize that you haven’t enrolled in Part B, your plan may even ask you to pay back all the money it has spent on your medical services since you became eligible for Medicare.\r\n\r\nThis kind of thing doesn’t always happen. For example, if you’re a federal retiree and receiving health insurance from a plan in the Federal Employee Health Benefits Program, you aren’t required to enroll in Part B.\r\n<p class=\"Remember\">When deciding whether to accept or decline Part B, finding out whether Medicare would be primary or secondary to any other insurance that you have is critically important.</p>\r\n<strong>Copyright © 2014 AARP. All rights reserved.</strong>","description":"Medicare Part B covers two kinds of health services: medically necessary care and preventive care.\r\n\r\nYou need to think twice about saying no to Medicare Part B coverage, even though it costs a monthly premium to use it. (If that amount would be a hardship, you may be able to have the premiums paid by your state.) It’s an important decision you need to make during the enrollment process — especially if you’re signed up automatically — and you should be very clear on how to deal with it given your situation.\r\n\r\nThere are situations when opting out of Part B is okay — in other words, not likely to cause you any regrets (or cost you money!) in the future. And there are situations when opting out is costly or causes other problems.\r\n\r\nBizarrely, the rules are different for people who have <a href=\"https://www.dummies.com/personal-finance/insurance/health-insurance/medicare-for-dummies-cheat-sheet/\" target=\"_blank\" rel=\"noopener\">Medicare</a> because they’re 65 or older and those who have it at earlier ages because of a disability. So look separately at these two groups to know when people in each can confidently turn down Part B.\r\n<h2 id=\"tab1\" >Know when to turn down Part B if you’re 65 or older</h2>\r\n<p class=\"Remember\">In general, when you’re 65 or older, you should decline Part B only if you have group health insurance from an employer for whom you or your spouse is still actively working and that insurance is <i>primary</i> to Medicare. (That is, it pays before Medicare does.)</p>\r\nIn this situation, you can delay Part B enrollment without penalty until the employment stops or the insurance ends. So if you’re not yet drawing Social Security retirement benefits, just skip signing up for Part B.\r\n\r\nOr if you’re enrolled automatically because you’re receiving those benefits, you can decline Part B by following the instructions that Social Security sends you in the letter that accompanies your Medicare card and meeting the specified deadline.\r\n\r\nOpting out ensures that you don’t have to pay Part B premiums or, if you’re receiving retirement benefits, have them deducted each month from your Social Security retirement check. But of course, if you prefer to pay for both employer insurance and Medicare coverage — and that’s entirely your choice — go ahead and enroll (or stay enrolled) in Part B.\r\n<p class=\"Warning\">One group of people is especially prone to turn down Part B without giving it adequate thought: people age 65 and older who are in same-sex marriages or domestic arrangements with people of the same or the opposite sex and who are covered under health insurance from their partner’s employer. If you’re in either of these situations, you need to find out exactly how current law applies to you.</p>\r\n\r\n<h2 id=\"tab2\" >When to turn down Part B if you’re under 65</h2>\r\nIn general, if you have Medicare based on disability, you should decline Part B only if\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">You have health insurance from an employer for whom you or your spouse actively works, and the employer has 100 or more employees.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">You’re covered as a family member on somebody else’s group health plan at work, and the employer has 100 or more employees.</p>\r\n</li>\r\n</ul>\r\nWhat does <i>family member</i> mean? It means that the employer providing this insurance regards you as eligible for health coverage based on your domestic relationship with an employee — even if you aren’t formally married to that person and even if they are the same sex as you.\r\n<h2 id=\"tab3\" >When turning down Part B at any age is risky</h2>\r\nRegardless of whether you have Medicare based on disability or age, you should definitely enroll in Part B (or not refuse it) if you have health insurance that will automatically become <i>secondary</i> to Medicare (it will pay after Medicare does) when your Medicare benefits begin. This includes the following:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">Health insurance that you buy yourself on the open insurance market and that isn’t provided by an employer</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Health insurance from an employer with fewer than 20 employees (if you’re 65 or older)</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Health insurance from an employer with fewer than 100 employees (if you have Medicare because of disability)</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Retiree benefits from a former employer (your own or your spouse’s)</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Health benefits from the military’s TRICARE For Life retiree program</p>\r\n</li>\r\n</ul>\r\n<h2 id=\"tab4\" >When Medicare is primary coverage, it pays the bills</h2>\r\nYou should enroll in Part B coverage in the preceding situations for a very good reason quite apart from the possibilities of late penalties down the road if you don’t. When Medicare is considered primary coverage, it pays your medical bills first.\r\n\r\nSo if you’re not enrolled in Part B, you run the real risk of having your insurance plan deny any claims that Medicare could’ve paid — from basic ones like doctors’ visits and lab tests to major ones like surgery. In other words, you may face having to pay the entire bill.\r\n\r\nWorse, if your own insurer takes a while to realize that you haven’t enrolled in Part B, your plan may even ask you to pay back all the money it has spent on your medical services since you became eligible for Medicare.\r\n\r\nThis kind of thing doesn’t always happen. For example, if you’re a federal retiree and receiving health insurance from a plan in the Federal Employee Health Benefits Program, you aren’t required to enroll in Part B.\r\n<p class=\"Remember\">When deciding whether to accept or decline Part B, finding out whether Medicare would be primary or secondary to any other insurance that you have is critically important.</p>\r\n<strong>Copyright © 2014 AARP. All rights reserved.</strong>","blurb":"","authors":[],"primaryCategoryTaxonomy":{"categoryId":34084,"title":"Medicare","slug":"medicare","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34084"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[{"label":"Know when to turn down Part B if you’re 65 or older","target":"#tab1"},{"label":"When to turn down Part B if you’re under 65","target":"#tab2"},{"label":"When turning down Part B at any age is risky","target":"#tab3"},{"label":"When Medicare is primary coverage, it pays the bills","target":"#tab4"}],"relatedArticles":{"fromBook":[{"articleId":274372,"title":"What Medicare Doesn’t Cover","slug":"what-medicare-doesnt-cover","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/274372"}},{"articleId":274360,"title":"The ABCs (and D) of Medicare","slug":"the-abcs-and-d-of-medicare","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/274360"}},{"articleId":247001,"title":"What Medicare Part D Covers","slug":"medicare-part-d-covers","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/247001"}},{"articleId":207834,"title":"Medicare For Dummies Cheat Sheet","slug":"medicare-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/207834"}},{"articleId":159146,"title":"9 Frequently Asked Questions about Medicare","slug":"9-frequently-asked-questions-about-medicare","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/159146"}}],"fromCategory":[{"articleId":274372,"title":"What Medicare Doesn’t Cover","slug":"what-medicare-doesnt-cover","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/274372"}},{"articleId":274360,"title":"The ABCs (and D) of Medicare","slug":"the-abcs-and-d-of-medicare","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/274360"}},{"articleId":247078,"title":"Hospital Benefit Periods in Medicare Part A","slug":"hospital-benefit-periods-medicare-part","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/247078"}},{"articleId":247075,"title":"Medicare Part A's Three-Day Rule","slug":"medicare-part-three-day-rule","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/247075"}},{"articleId":247069,"title":"Finding Doctors Who Accept Medicare Patients","slug":"finding-doctors-accept-medicare-patients","categoryList":["business-careers-money","personal-finance","medicare"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/247069"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282389,"slug":"medicare-for-dummies-4th-edition","isbn":"9781119689935","categoryList":["business-careers-money","personal-finance","medicare"],"amazon":{"default":"https://www.amazon.com/gp/product/1119689937/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1119689937/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1119689937-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1119689937/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1119689937/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/medicare-for-dummies-4th-edition-cover-9781119689935-203x255.jpg","width":203,"height":255},"title":"Medicare For Dummies","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><p><b><b data-author-id=\"9067\">Patricia Barry</b></b> is a senior editor at the <i>AARP Bulletin</i> and a recognized expert on the Medicare Part D prescription drug program. During a long career in journalism, she has authored thousands of articles and two guidebooks on healthcare and social policy. Since 1999, she has specialized in writing about Medicare and prescription drugs.</p>","authors":[{"authorId":9067,"name":"Patricia Barry","slug":"patricia-barry","description":" <p><b>Patricia Barry</b> is a senior editor at the <i>AARP Bulletin</i> and a recognized expert on the Medicare Part D prescription drug program. During a long career in journalism, she has authored thousands of articles and two guidebooks on healthcare and social policy. Since 1999, she has specialized in writing about Medicare and prescription drugs. ","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9067"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;medicare&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119689935&quot;]}]\" id=\"du-slot-62ec5dc5a857f\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;medicare&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119689935&quot;]}]\" id=\"du-slot-62ec5dc5a8c24\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Solve","lifeExpectancy":"Six months","lifeExpectancySetFrom":"2021-07-06T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":158814},{"headers":{"creationTime":"2018-06-03T16:37:15+00:00","modifiedTime":"2022-08-03T16:52:19+00:00","timestamp":"2022-08-03T18:01:32+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Business","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34225"},"slug":"business","categoryId":34225},{"name":"General Business","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34255"},"slug":"general-business","categoryId":34255}],"title":"5 Steps to Faster, More Informed Decisions","strippedTitle":"5 steps to faster, more informed decisions","slug":"5-steps-faster-informed-decisions","canonicalUrl":"","seo":{"metaDescription":"Learn the steps and skills that can help you make important business decisions when you need to take action quickly.","noIndex":0,"noFollow":0},"content":"Can you make decisions swiftly and confidently when vast amounts of data cross your desk and inbox every day? How do you prioritize and rapidly respond in the midst of changing conditions? Well, you use the skills you already possess but may not be tapping into.\r\n\r\nHere’s an interesting correlation: The way you process information as you drive a vehicle also works for making an informed decision. If you drive well enough to be 98 percent accident-free, chances are you’re already a master of processing tons of data at high speed: You select pertinent information almost automatically and then use the information quickly and accurately. If you apply that innate skill to your decision-making, you can make informed business decisions without second guessing yourself.\r\n\r\nTo sort from a sea of information, do these things:\r\n<ul>\r\n \t<li><strong>Focus on the outcome. </strong>Being clear about the end point does two things:\r\n<ul>\r\n \t<li>Provides guidance for your intuition, enabling you to sift through all the available information to select what’s important for the decision you need to make</li>\r\n \t<li>Gives you a solid anchor for your decisions that can accommodate opposing facts and perspectives</li>\r\n</ul>\r\n</li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">If, for example, the end point is to stay under budget, your decision and the data you use to inform your decision will be filtered based on that. If the end point is to produce a product that meets customers’ unstated needs, all the available information will be filtered using that criterion. <em>The outcome anchors your decision making.</em></p>\r\n\r\n<ul>\r\n \t<li><strong>Stop mentally concentrating on the issues and let your subconscious do the work for you.</strong></li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">Your subconscious is faster than your conscious mind, and it works automatically when your focus is clear. When you turn the issue over to your subconscious, you gain speed and accuracy.</p>\r\n\r\n<ul>\r\n \t<li><strong>Question and expose the beliefs you use to interpret how the world works.</strong></li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">Beliefs, otherwise known as <em>mental models</em> — things you believe to be true but that may not actually reflect a widened view of reality — filter reality to confirm your previous experiences. Questioning your beliefs permits you to improve the accuracy of your analysis, jettison past connotations, and open up new possibilities.</p>\r\n\r\n<ul>\r\n \t<li><strong>Observe your emotions.</strong></li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">Step back to gain perspective and quiet the mental chatter so that you can accurately hear your inner voice. You’ll gain a wider view of the situation and be able to see alternatives.</p>\r\n<p class=\"article-tips remember\">It’s easy to fall prey to doubt or to rationalize your decision. If you’re feeling fearful, you may think you have only one option or no options. In climates of high fear, when the rational dominates, making an informed decision requires that you achieve a calmer state of mind so that you can access your higher mental and intuitive functioning.</p>\r\n\r\n<ul>\r\n \t<li><strong>After you analyze and review your options, select your decision, but before you commit, check in on how you feel about the option you’ve selected.</strong></li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">Call it a heart check. Even when the solution is a totally new approach, you need to feel at peace with it.</p>\r\nMaking an informed decision requires that you work with both facts (actual data) and emotional information, and that you take steps to mitigate the effect of ingrained bias. Doing so requires that you commit to mastering all your senses and intelligences so that, in chaotic decision-making environments, you’ll be able to balance data with open-minded experimentation and stay sensitive to cues that other decision-makers will miss.","description":"Can you make decisions swiftly and confidently when vast amounts of data cross your desk and inbox every day? How do you prioritize and rapidly respond in the midst of changing conditions? Well, you use the skills you already possess but may not be tapping into.\r\n\r\nHere’s an interesting correlation: The way you process information as you drive a vehicle also works for making an informed decision. If you drive well enough to be 98 percent accident-free, chances are you’re already a master of processing tons of data at high speed: You select pertinent information almost automatically and then use the information quickly and accurately. If you apply that innate skill to your decision-making, you can make informed business decisions without second guessing yourself.\r\n\r\nTo sort from a sea of information, do these things:\r\n<ul>\r\n \t<li><strong>Focus on the outcome. </strong>Being clear about the end point does two things:\r\n<ul>\r\n \t<li>Provides guidance for your intuition, enabling you to sift through all the available information to select what’s important for the decision you need to make</li>\r\n \t<li>Gives you a solid anchor for your decisions that can accommodate opposing facts and perspectives</li>\r\n</ul>\r\n</li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">If, for example, the end point is to stay under budget, your decision and the data you use to inform your decision will be filtered based on that. If the end point is to produce a product that meets customers’ unstated needs, all the available information will be filtered using that criterion. <em>The outcome anchors your decision making.</em></p>\r\n\r\n<ul>\r\n \t<li><strong>Stop mentally concentrating on the issues and let your subconscious do the work for you.</strong></li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">Your subconscious is faster than your conscious mind, and it works automatically when your focus is clear. When you turn the issue over to your subconscious, you gain speed and accuracy.</p>\r\n\r\n<ul>\r\n \t<li><strong>Question and expose the beliefs you use to interpret how the world works.</strong></li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">Beliefs, otherwise known as <em>mental models</em> — things you believe to be true but that may not actually reflect a widened view of reality — filter reality to confirm your previous experiences. Questioning your beliefs permits you to improve the accuracy of your analysis, jettison past connotations, and open up new possibilities.</p>\r\n\r\n<ul>\r\n \t<li><strong>Observe your emotions.</strong></li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">Step back to gain perspective and quiet the mental chatter so that you can accurately hear your inner voice. You’ll gain a wider view of the situation and be able to see alternatives.</p>\r\n<p class=\"article-tips remember\">It’s easy to fall prey to doubt or to rationalize your decision. If you’re feeling fearful, you may think you have only one option or no options. In climates of high fear, when the rational dominates, making an informed decision requires that you achieve a calmer state of mind so that you can access your higher mental and intuitive functioning.</p>\r\n\r\n<ul>\r\n \t<li><strong>After you analyze and review your options, select your decision, but before you commit, check in on how you feel about the option you’ve selected.</strong></li>\r\n</ul>\r\n<p style=\"padding-left: 30px;\">Call it a heart check. Even when the solution is a totally new approach, you need to feel at peace with it.</p>\r\nMaking an informed decision requires that you work with both facts (actual data) and emotional information, and that you take steps to mitigate the effect of ingrained bias. Doing so requires that you commit to mastering all your senses and intelligences so that, in chaotic decision-making environments, you’ll be able to balance data with open-minded experimentation and stay sensitive to cues that other decision-makers will miss.","blurb":"","authors":[{"authorId":8947,"name":"The Experts at Dummies","slug":"the-experts-at-dummies","description":"The Experts at Dummies are smart, friendly people who make learning easy by taking a not-so-serious approach to serious stuff.","_links":{"self":"https://dummies-api.dummies.com/v2/authors/8947"}}],"primaryCategoryTaxonomy":{"categoryId":34255,"title":"General Business","slug":"general-business","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34255"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":254086,"title":"Are You Micromanaging Your Business?","slug":"are-you-micromanaging-your-business","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/254086"}},{"articleId":254078,"title":"5 Types of Email Campaigns for Your Business","slug":"5-types-email-campaigns-business","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/254078"}},{"articleId":254064,"title":"Establish Content Segments for Your Digital Marketing Strategy","slug":"establish-content-segments-digital-marketing-strategy","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/254064"}},{"articleId":254059,"title":"Rely on Everyday Words and Phrasing in Your Business Writing","slug":"rely-everyday-words-phrasing-business-writing","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/254059"}},{"articleId":254052,"title":"Launch a Successful Digital Marketing Campaign by Offering Value in Advance","slug":"launch-successful-digital-marketing-campaign-offering-value-advance","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/254052"}}],"fromCategory":[{"articleId":271244,"title":"Design Thinking: Making Ideas Clear and Tangible","slug":"design-thinking-making-ideas-clear-and-tangible","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/271244"}},{"articleId":271238,"title":"Design Thinking: Creativity Techniques","slug":"design-thinking-creativity-techniques","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/271238"}},{"articleId":271232,"title":"Design Thinking: The Customer Journey","slug":"design-thinking-the-customer-journey","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/271232"}},{"articleId":271227,"title":"Design Thinking: Using an Empathy Map","slug":"design-thinking-using-an-empathy-map","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/271227"}},{"articleId":271221,"title":"Design Thinking: Characterizing a Customer Using the Persona Method","slug":"design-thinking-characterizing-a-customer-using-the-persona-method","categoryList":["business-careers-money","business","general-business"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/271221"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":281646,"slug":"business-skills-all-in-one-for-dummies","isbn":"9781119473978","categoryList":["business-careers-money","business","general-business"],"amazon":{"default":"https://www.amazon.com/gp/product/1119473977/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1119473977/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1119473977-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1119473977/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1119473977/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/business-skills-all-in-one-for-dummies-cover-9781119473978-203x255.jpg","width":203,"height":255},"title":"Business Skills All-in-One For Dummies","testBankPinActivationLink":"","bookOutOfPrint":false,"authorsInfo":"","authors":[{"authorId":34784,"name":"","slug":"","description":"","_links":{"self":"https://dummies-api.dummies.com/v2/authors/34784"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;general-business&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119473978&quot;]}]\" id=\"du-slot-62eab7fcd3a23\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;general-business&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119473978&quot;]}]\" id=\"du-slot-62eab7fcd4647\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Five years","lifeExpectancySetFrom":"2022-08-03T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":252836},{"headers":{"creationTime":"2016-03-26T14:44:44+00:00","modifiedTime":"2022-08-03T16:40:41+00:00","timestamp":"2022-08-03T18:01:32+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Business","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34225"},"slug":"business","categoryId":34225},{"name":"Marketing","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34243"},"slug":"marketing","categoryId":34243}],"title":"10 Tips for Designing a White Paper","strippedTitle":"10 tips for designing a white paper","slug":"10-tips-on-designing-a-white-paper","canonicalUrl":"","seo":{"metaDescription":"Check out these tips for designing a white paper that will enhance your content and keep the attention of your audience.","noIndex":0,"noFollow":0},"content":"Nothing undermines a good white paper faster than poor design. No matter how compelling and persuasive the text may be, if people can’t read it because of a poor design, they’ll quickly move on. Then all your effort and expense are for nothing.\r\n\r\nHere are ten down-to-earth tips for anyone designing a white paper. If you’re not sure how to design a white paper or you’ve never done one before, read on. If you’re a marketing manager who needs to direct a designer to format your white paper, this is for you. If you’re a white paper writer stuck trying to use Word to turn out respectable-looking pages, you’ve just hit pay dirt.\r\n<h2 id=\"tab1\" >Design to enhance the content</h2>\r\nA white paper isn’t a brochure, so it shouldn’t be as slick and colorful as one. But it needs to be more appealing than your father’s business report. Think of a page from a magazine, like <i>Scientific American</i> or <i>Vanity Fair,</i> or the front part of an annual report, before all the numbers. That kind of crisp, elegant editorial design is what to shoot for with your white paper.\r\n\r\nEffective design enhances the content of the white paper instead of drawing attention to itself. Your design must add value and clarity to that content instead of adding distractions or hurdles to legibility. Let the white paper’s message shine out from your pages.\r\n<h2 id=\"tab2\" >Consider your readers' eyesight</h2>\r\nMost people’s eyes begin to change in their 40s, and they start to need larger type to read comfortably. By coincidence, most B2B white papers are aimed at business decision makers, most of whom are in their 40s and older. And many people this age prefer to read on paper, so they likely print out a white paper rather than read it on-screen.\r\n\r\nYounger designers, take note: You’re not designing white papers for yourself and your peers; you’re designing for older people.\r\n\r\nThat means forget gray text and color backgrounds. Black text on a white background has been the standard for legibility for hundreds of years; why change it? Bump up the body size type to 10 or 11 points; it’s free.\r\n<h2 id=\"tab3\" >Realize that text isn't a graphic</h2>\r\nThe text <i>is</i> the content of a white paper. Look at your pages as text-driven content, where your challenge is to make the text as inviting and easy to read or scan as in any magazine you pick up — any magazine, mind you, aimed at people in their 40s and older.\r\n<h2 id=\"tab4\" >Make every page count</h2>\r\nSure, every white paper needs a little front and back matter, but when the front and back matter add up to nearly two-thirds of a white paper, something is terribly wrong.\r\n\r\nSome misguided software templates lay out a white paper like a two-sided book, with a blank page on the back of the front cover and a back cover to tie it all together. Forget it! Most B2B buyers either look at your white paper on-screen or print it out single sided. Those other pages are just a waste of time and money.\r\n\r\nBe sure to compress the front and back matter, cut the worthless blank pages, and make every page count.\r\n<h2 id=\"tab5\" >Control page breaks</h2>\r\nAvoid starting a major section at the very bottom of a page, with only a line or two of text after it or cramming a new section beginning near a footnote or footer.\r\n\r\nThere’s nothing wrong with leaving a little white space at the end of a major section. Just start the new section on a new page. White space gives readers a momentary visual and mental break and helps them understand the structure of the document.\r\n<h2 id=\"tab6\" >Avoid a wall of gray</h2>\r\nSome designers have the idea that a white paper is supposed to be serious, and by that, they think “a wall of gray.” They think all they have to do is just pour the text into the pages and be done with it. Any white paper with text formatted as a wall of gray may look serious, but it won’t invite anyone to read it.\r\n<h2 id=\"tab7\" >Leave lots of white space</h2>\r\nAnother symptom of the wall-of-gray approach is teensy-tiny, itsy-bitsy, little margins around the text. Long horizontal lines of type are hard for readers’ eyes to scan and tough for their brains to process. If you format a white paper with minimal white space, you’ll lose most of your readers. Again, white space is free.\r\n\r\nSo what if your final document is eight or ten pages long? If the content is compelling and the design is inviting, your readers won’t mind.\r\n<h2 id=\"tab8\" >Avoid smug shots</h2>\r\nSo you’re looking for a stock shot for a white paper. That’s a fine way to break up the wall of gray. But by all means, skip the shots of the beautiful people wearing impeccable suits hunched over a pristine PC or shaking hands in some foyer drenched in sunlight. Everyone knows those are fake, posed shots.\r\n\r\nPick photos that show average-looking people wearing typical clothes, doing something a little more interesting than shaking hands or peering at computer screens.\r\n<h2 id=\"tab9\" >Control hyphenation</h2>\r\nMost software does a terrible job of hyphenating English. Traditional typography called for at least four letters before any hyphen and at least three letters carried to the second line. Most typographers wouldn’t hyphenate a word with fewer than six letters.\r\n\r\nSo don’t rely on automated hyphenation, and leave your text ragged right. Then scan your right margins, and if you see a major white space that you absolutely must eliminate, take two seconds to insert a manual hyphen.\r\n<h2 id=\"tab10\" >Refine a corporate template</h2>\r\nSome companies have a corporate template that they expect all designers to follow. These layouts may be perfect for a press release, an internal business report, or a data sheet, but they’re not always ideal for a white paper.\r\n<p class=\"Tip\">If you feel strongly that the corporate template detracts from the readability and undermines the white paper content, make your views known. If you have the scope, make up two versions of the white paper: one following the existing template and another with your recommended changes. Circulate both versions to your team, your customer advisory board, and your manager. Get a second opinion from an experienced designer or a white paper expert.</p>","description":"Nothing undermines a good white paper faster than poor design. No matter how compelling and persuasive the text may be, if people can’t read it because of a poor design, they’ll quickly move on. Then all your effort and expense are for nothing.\r\n\r\nHere are ten down-to-earth tips for anyone designing a white paper. If you’re not sure how to design a white paper or you’ve never done one before, read on. If you’re a marketing manager who needs to direct a designer to format your white paper, this is for you. If you’re a white paper writer stuck trying to use Word to turn out respectable-looking pages, you’ve just hit pay dirt.\r\n<h2 id=\"tab1\" >Design to enhance the content</h2>\r\nA white paper isn’t a brochure, so it shouldn’t be as slick and colorful as one. But it needs to be more appealing than your father’s business report. Think of a page from a magazine, like <i>Scientific American</i> or <i>Vanity Fair,</i> or the front part of an annual report, before all the numbers. That kind of crisp, elegant editorial design is what to shoot for with your white paper.\r\n\r\nEffective design enhances the content of the white paper instead of drawing attention to itself. Your design must add value and clarity to that content instead of adding distractions or hurdles to legibility. Let the white paper’s message shine out from your pages.\r\n<h2 id=\"tab2\" >Consider your readers' eyesight</h2>\r\nMost people’s eyes begin to change in their 40s, and they start to need larger type to read comfortably. By coincidence, most B2B white papers are aimed at business decision makers, most of whom are in their 40s and older. And many people this age prefer to read on paper, so they likely print out a white paper rather than read it on-screen.\r\n\r\nYounger designers, take note: You’re not designing white papers for yourself and your peers; you’re designing for older people.\r\n\r\nThat means forget gray text and color backgrounds. Black text on a white background has been the standard for legibility for hundreds of years; why change it? Bump up the body size type to 10 or 11 points; it’s free.\r\n<h2 id=\"tab3\" >Realize that text isn't a graphic</h2>\r\nThe text <i>is</i> the content of a white paper. Look at your pages as text-driven content, where your challenge is to make the text as inviting and easy to read or scan as in any magazine you pick up — any magazine, mind you, aimed at people in their 40s and older.\r\n<h2 id=\"tab4\" >Make every page count</h2>\r\nSure, every white paper needs a little front and back matter, but when the front and back matter add up to nearly two-thirds of a white paper, something is terribly wrong.\r\n\r\nSome misguided software templates lay out a white paper like a two-sided book, with a blank page on the back of the front cover and a back cover to tie it all together. Forget it! Most B2B buyers either look at your white paper on-screen or print it out single sided. Those other pages are just a waste of time and money.\r\n\r\nBe sure to compress the front and back matter, cut the worthless blank pages, and make every page count.\r\n<h2 id=\"tab5\" >Control page breaks</h2>\r\nAvoid starting a major section at the very bottom of a page, with only a line or two of text after it or cramming a new section beginning near a footnote or footer.\r\n\r\nThere’s nothing wrong with leaving a little white space at the end of a major section. Just start the new section on a new page. White space gives readers a momentary visual and mental break and helps them understand the structure of the document.\r\n<h2 id=\"tab6\" >Avoid a wall of gray</h2>\r\nSome designers have the idea that a white paper is supposed to be serious, and by that, they think “a wall of gray.” They think all they have to do is just pour the text into the pages and be done with it. Any white paper with text formatted as a wall of gray may look serious, but it won’t invite anyone to read it.\r\n<h2 id=\"tab7\" >Leave lots of white space</h2>\r\nAnother symptom of the wall-of-gray approach is teensy-tiny, itsy-bitsy, little margins around the text. Long horizontal lines of type are hard for readers’ eyes to scan and tough for their brains to process. If you format a white paper with minimal white space, you’ll lose most of your readers. Again, white space is free.\r\n\r\nSo what if your final document is eight or ten pages long? If the content is compelling and the design is inviting, your readers won’t mind.\r\n<h2 id=\"tab8\" >Avoid smug shots</h2>\r\nSo you’re looking for a stock shot for a white paper. That’s a fine way to break up the wall of gray. But by all means, skip the shots of the beautiful people wearing impeccable suits hunched over a pristine PC or shaking hands in some foyer drenched in sunlight. Everyone knows those are fake, posed shots.\r\n\r\nPick photos that show average-looking people wearing typical clothes, doing something a little more interesting than shaking hands or peering at computer screens.\r\n<h2 id=\"tab9\" >Control hyphenation</h2>\r\nMost software does a terrible job of hyphenating English. Traditional typography called for at least four letters before any hyphen and at least three letters carried to the second line. Most typographers wouldn’t hyphenate a word with fewer than six letters.\r\n\r\nSo don’t rely on automated hyphenation, and leave your text ragged right. Then scan your right margins, and if you see a major white space that you absolutely must eliminate, take two seconds to insert a manual hyphen.\r\n<h2 id=\"tab10\" >Refine a corporate template</h2>\r\nSome companies have a corporate template that they expect all designers to follow. These layouts may be perfect for a press release, an internal business report, or a data sheet, but they’re not always ideal for a white paper.\r\n<p class=\"Tip\">If you feel strongly that the corporate template detracts from the readability and undermines the white paper content, make your views known. If you have the scope, make up two versions of the white paper: one following the existing template and another with your recommended changes. Circulate both versions to your team, your customer advisory board, and your manager. Get a second opinion from an experienced designer or a white paper expert.</p>","blurb":"","authors":[{"authorId":9689,"name":"Gordon Graham","slug":"gordon-graham","description":" <p><b>Gordon Graham</b> &#8212; also known as That White Paper Guy &#8212; is an award-winning writer who has created more than 200 B2B white papers for clients from New York to Australia. Gordon has written white papers on everything from choosing enterprise software to designing virtual worlds for kids, and for everyone from tiny start-ups to Google.</p>","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9689"}}],"primaryCategoryTaxonomy":{"categoryId":34243,"title":"Marketing","slug":"marketing","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34243"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[{"label":"Design to enhance the content","target":"#tab1"},{"label":"Consider your readers' eyesight","target":"#tab2"},{"label":"Realize that text isn't a graphic","target":"#tab3"},{"label":"Make every page count","target":"#tab4"},{"label":"Control page breaks","target":"#tab5"},{"label":"Avoid a wall of gray","target":"#tab6"},{"label":"Leave lots of white space","target":"#tab7"},{"label":"Avoid smug shots","target":"#tab8"},{"label":"Control hyphenation","target":"#tab9"},{"label":"Refine a corporate template","target":"#tab10"}],"relatedArticles":{"fromBook":[{"articleId":208042,"title":"White Papers For Dummies Cheat Sheet","slug":"white-papers-for-dummies-cheat-sheet","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208042"}},{"articleId":169900,"title":"How to Work with a Researcher when Writing a White Paper","slug":"how-to-work-with-a-researcher-when-writing-a-white-paper","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/169900"}},{"articleId":169867,"title":"Using Innovative Software to Enhance the Writing Process","slug":"using-innovative-software-to-enhance-the-writing-process","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/169867"}},{"articleId":169868,"title":"Managing Your Computer Documents during the Writing Process","slug":"managing-your-computer-documents-during-the-writing-process","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/169868"}},{"articleId":169869,"title":"Incorporate New Media into White Papers","slug":"incorporate-new-media-into-white-papers","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/169869"}}],"fromCategory":[{"articleId":274041,"title":"How to Build Seasonal Gamification Marketing Campaigns","slug":"how-to-build-seasonal-gamification-marketing-campaigns","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/274041"}},{"articleId":274036,"title":"Build Loyalty Rewards into Your Gamification Model","slug":"build-loyalty-rewards-into-your-gamification-model","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/274036"}},{"articleId":274031,"title":"Gamification Models","slug":"gamification-models","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/274031"}},{"articleId":274024,"title":"Gamification Marketing: Use a Unique Hashtag","slug":"gamification-marketing-use-a-unique-hashtag","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/274024"}},{"articleId":274018,"title":"Gamification Marketing: User Rewards and Achievements","slug":"gamification-marketing-user-rewards-and-achievements","categoryList":["business-careers-money","business","marketing"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/274018"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282670,"slug":"white-papers-for-dummies","isbn":"9781118496923","categoryList":["business-careers-money","business","marketing"],"amazon":{"default":"https://www.amazon.com/gp/product/1118496922/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1118496922/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1118496922-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1118496922/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1118496922/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/white-papers-for-dummies-cover-9781118496923-202x255.jpg","width":202,"height":255},"title":"White Papers For Dummies","testBankPinActivationLink":"","bookOutOfPrint":false,"authorsInfo":"<p><b data-author-id=\"9689\">Gordon Graham</b> — also known as That White Paper Guy — is an award-winning writer who has created more than 200 B2B white papers for clients from New York to Australia. Gordon has written white papers on everything from choosing enterprise software to designing virtual worlds for kids, and for everyone from tiny start-ups to Google.</p>","authors":[{"authorId":9689,"name":"Gordon Graham","slug":"gordon-graham","description":" <p><b>Gordon Graham</b> &#8212; also known as That White Paper Guy &#8212; is an award-winning writer who has created more than 200 B2B white papers for clients from New York to Australia. Gordon has written white papers on everything from choosing enterprise software to designing virtual worlds for kids, and for everyone from tiny start-ups to Google.</p>","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9689"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;marketing&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118496923&quot;]}]\" id=\"du-slot-62eab7fcc76d0\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;marketing&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118496923&quot;]}]\" id=\"du-slot-62eab7fcc7f46\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2022-08-03T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":164945},{"headers":{"creationTime":"2016-03-26T16:03:47+00:00","modifiedTime":"2022-08-03T14:09:33+00:00","timestamp":"2022-08-03T18:01:32+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Investment Vehicles","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34290"},"slug":"investment-vehicles","categoryId":34290},{"name":"Bonds","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34291"},"slug":"bonds","categoryId":34291}],"title":"The Interest Rate Risk in Bond Investing","strippedTitle":"the interest rate risk in bond investing","slug":"the-interest-rate-risk-in-bond-investing","canonicalUrl":"","seo":{"metaDescription":"Even bonds carry some risk in investing. This article explains how changing interest rates affect your bond investments.","noIndex":0,"noFollow":0},"content":"The vast majority of bond offerings are rather staid investments. You give your money to a government or corporation. You receive a steady flow of income, usually twice a year, for a certain number of years. Then, typically after a few years, you get your original money back. Sometimes you pay taxes. A broker usually takes a cut. Beginning and end of story.\r\n\r\nThe reason for bonds’ staid status is not only that they provide steady and predictable streams of income, but also that as a bondholder you have first dibs on the issuer’s money. A corporation is legally bound to pay you your interest before it doles out any dividends to people who own company stock.\r\n\r\nIf a company starts to go through hard times, any proceeds from the business or (in the case of an actual bankruptcy) from the sale of assets go to you before they go to shareholders.\r\n\r\nHowever, bonds offer no ironclad guarantees. First dibs on the money aside, bonds are not FDIC-insured savings accounts. They are not without some risk. For that matter, even an FDIC-insured savings account — even stuffing your money under the proverbial mattress! — also carries some risk.\r\n\r\nInterest rates go up, and interest rates go down. And whenever they do, bond prices move, almost in synch, in the opposite direction. Why? If you’re holding a bond that pays 5 percent, and interest rates move up so that most new bonds are paying 7 percent, your old bond becomes about as desirable to hold as a pet scorpion.\r\n\r\nAny rational buyer of bonds would, all things being equal, choose a new bond paying 7 percent rather than your relic, still paying only 5 percent. Should you try to sell the bond, unless you can find a real sucker, the price you are likely to get will be deeply discounted.\r\n\r\nThe longer off the maturity of the bond, the more its price will drop with rising interest rates. Thus long-term bonds tend to be the most volatile of all bonds. Think it through: If you have a bond paying 5 percent that matures in a year, and the prevailing interest rate moves up to 7 percent, you’re looking at relatively inferior coupon payments for the next 12 months.\r\n\r\nIf you’re holding a 5 percent bond that matures in ten years, you’re looking at potentially ten years of inferior coupon payments.\r\n\r\nNo one wants to buy a bond offering ten years of inferior coupon payments unless she can get that bond for a steal.\r\n<p class=\"Warning\">That’s why if you try to sell a bond after a period of rising interest rates, you take a loss. If you hold the bond to maturity, you can avoid that loss, but you pay an opportunity cost because your money is tied up earning less than the prevailing rate of interest. Either way, you lose.</p>\r\nOf course, interest rate risk has its flip side: If interest rates fall, your existing bonds, paying the older, higher interest rates, suddenly start looking awfully good to potential buyers. They aren’t pet scorpions anymore — more like Cocker Spaniel puppies. If you decide to sell, you’ll get a handsome price.\r\n\r\nThis “flip side” to interest rate risk is precisely what has caused the most peculiar situation in the past three decades, where the longest-term Treasury bonds (with 30-year maturities) have actually done as well as the S&P 500 in total returns. The yield on these babies has dipped from over 14 percent in the early 1980s to just a little over 3 percent today.\r\n\r\nHence, those old bonds, which are now maturing, have turned to gold. Will this happen again in the next 30 years? Not unless long-term Treasuries in the year 2042 are being issued with a negative 8 percent interest rate. Of course, that isn’t going to happen. More likely, interest rates are going to climb back to historical norms.\r\n\r\nInterest rate risk has perhaps never been greater than it is today. You would be foolish to put your money into 30-year Treasuries and assume that you are going to get 11.5 percent a year annual return, as some very lucky investors have done over the last 30 years. Chances are, well . . . anything can happen over 30 years, but keep your expectations modest, please.","description":"The vast majority of bond offerings are rather staid investments. You give your money to a government or corporation. You receive a steady flow of income, usually twice a year, for a certain number of years. Then, typically after a few years, you get your original money back. Sometimes you pay taxes. A broker usually takes a cut. Beginning and end of story.\r\n\r\nThe reason for bonds’ staid status is not only that they provide steady and predictable streams of income, but also that as a bondholder you have first dibs on the issuer’s money. A corporation is legally bound to pay you your interest before it doles out any dividends to people who own company stock.\r\n\r\nIf a company starts to go through hard times, any proceeds from the business or (in the case of an actual bankruptcy) from the sale of assets go to you before they go to shareholders.\r\n\r\nHowever, bonds offer no ironclad guarantees. First dibs on the money aside, bonds are not FDIC-insured savings accounts. They are not without some risk. For that matter, even an FDIC-insured savings account — even stuffing your money under the proverbial mattress! — also carries some risk.\r\n\r\nInterest rates go up, and interest rates go down. And whenever they do, bond prices move, almost in synch, in the opposite direction. Why? If you’re holding a bond that pays 5 percent, and interest rates move up so that most new bonds are paying 7 percent, your old bond becomes about as desirable to hold as a pet scorpion.\r\n\r\nAny rational buyer of bonds would, all things being equal, choose a new bond paying 7 percent rather than your relic, still paying only 5 percent. Should you try to sell the bond, unless you can find a real sucker, the price you are likely to get will be deeply discounted.\r\n\r\nThe longer off the maturity of the bond, the more its price will drop with rising interest rates. Thus long-term bonds tend to be the most volatile of all bonds. Think it through: If you have a bond paying 5 percent that matures in a year, and the prevailing interest rate moves up to 7 percent, you’re looking at relatively inferior coupon payments for the next 12 months.\r\n\r\nIf you’re holding a 5 percent bond that matures in ten years, you’re looking at potentially ten years of inferior coupon payments.\r\n\r\nNo one wants to buy a bond offering ten years of inferior coupon payments unless she can get that bond for a steal.\r\n<p class=\"Warning\">That’s why if you try to sell a bond after a period of rising interest rates, you take a loss. If you hold the bond to maturity, you can avoid that loss, but you pay an opportunity cost because your money is tied up earning less than the prevailing rate of interest. Either way, you lose.</p>\r\nOf course, interest rate risk has its flip side: If interest rates fall, your existing bonds, paying the older, higher interest rates, suddenly start looking awfully good to potential buyers. They aren’t pet scorpions anymore — more like Cocker Spaniel puppies. If you decide to sell, you’ll get a handsome price.\r\n\r\nThis “flip side” to interest rate risk is precisely what has caused the most peculiar situation in the past three decades, where the longest-term Treasury bonds (with 30-year maturities) have actually done as well as the S&P 500 in total returns. The yield on these babies has dipped from over 14 percent in the early 1980s to just a little over 3 percent today.\r\n\r\nHence, those old bonds, which are now maturing, have turned to gold. Will this happen again in the next 30 years? Not unless long-term Treasuries in the year 2042 are being issued with a negative 8 percent interest rate. Of course, that isn’t going to happen. More likely, interest rates are going to climb back to historical norms.\r\n\r\nInterest rate risk has perhaps never been greater than it is today. You would be foolish to put your money into 30-year Treasuries and assume that you are going to get 11.5 percent a year annual return, as some very lucky investors have done over the last 30 years. Chances are, well . . . anything can happen over 30 years, but keep your expectations modest, please.","blurb":"","authors":[{"authorId":9023,"name":"Russell Wild","slug":"russell-wild","description":" <b>Russell Wild,</b> MBA, an expert on index investing, is a fee-only financial planner and investment advisor and the principal of Global Portfolios. He is the author or coauthor of nearly two dozen nonfiction books.","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9023"}}],"primaryCategoryTaxonomy":{"categoryId":34291,"title":"Bonds","slug":"bonds","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34291"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":208279,"title":"Bond Investing For Dummies Cheat Sheet","slug":"bond-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208279"}},{"articleId":175087,"title":"Questions to Ask a Bond Broker about a Bond","slug":"questions-to-ask-a-bond-broker-about-a-bond","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/175087"}},{"articleId":175085,"title":"How to Read Bond Ratings","slug":"how-to-read-bond-ratings","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/175085"}},{"articleId":175062,"title":"Important Websites for Bond Investors","slug":"important-websites-for-bond-investors","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/175062"}},{"articleId":175054,"title":"How to Choose between a Taxable and a Tax-Free Municipal Bond","slug":"how-to-choose-between-a-taxable-and-a-tax-free-municipal-bond","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/175054"}}],"fromCategory":[{"articleId":275083,"title":"How to Invest in Bonds","slug":"how-to-invest-in-bonds","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/275083"}},{"articleId":208279,"title":"Bond Investing For Dummies Cheat Sheet","slug":"bond-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208279"}},{"articleId":207444,"title":"<b>Investing in Bonds For Dummies Cheat Sheet</b>","slug":"investing-in-bonds-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/207444"}},{"articleId":202959,"title":"Buying U.S. Savings Bonds in an Uncertain Economy","slug":"buying-u-s-savings-bonds-in-an-uncertain-economy","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/202959"}},{"articleId":202861,"title":"Savings Bonds Pros and Cons","slug":"savings-bonds-pros-and-cons","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/202861"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282006,"slug":"bond-investing-for-dummies-2nd-edition","isbn":"9781118274439","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"amazon":{"default":"https://www.amazon.com/gp/product/1118274431/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1118274431/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1118274431-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1118274431/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1118274431/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/bond-investing-for-dummies-2nd-edition-cover-9781118274439-203x255.jpg","width":203,"height":255},"title":"Bond Investing For Dummies","testBankPinActivationLink":"","bookOutOfPrint":false,"authorsInfo":"<p><b data-author-id=\"9023\">Russell Wild, MBA,</b> is the author or coauthor of many nonfiction books, including <i>Exchange-Traded Funds For Dummies, Index Investing For Dummies,</i> and <i>One Year to an Organized Financial Life</i>. He is a NAPFA-certified financial advisor, registered with the Pennsylvania Securities Commission. </p>","authors":[{"authorId":9023,"name":"Russell Wild","slug":"russell-wild","description":" <b>Russell Wild,</b> MBA, an expert on index investing, is a fee-only financial planner and investment advisor and the principal of Global Portfolios. He is the author or coauthor of nearly two dozen nonfiction books.","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9023"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;investment-vehicles&quot;,&quot;bonds&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118274439&quot;]}]\" id=\"du-slot-62eab7fcbb3f6\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;investment-vehicles&quot;,&quot;bonds&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118274439&quot;]}]\" id=\"du-slot-62eab7fcbbc47\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Five years","lifeExpectancySetFrom":"2022-08-03T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":172191},{"headers":{"creationTime":"2016-03-26T16:03:46+00:00","modifiedTime":"2022-08-03T14:07:52+00:00","timestamp":"2022-08-03T18:01:32+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Investment Vehicles","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34290"},"slug":"investment-vehicles","categoryId":34290},{"name":"Bonds","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34291"},"slug":"bonds","categoryId":34291}],"title":"The Reinvestment Risk in Bond Investing","strippedTitle":"the reinvestment risk in bond investing","slug":"the-reinvestment-risk-in-bond-investing","canonicalUrl":"","seo":{"metaDescription":"Even investing in bonds carries some risk, and this article explains the reinvestment risk in an easy-to-understand way.","noIndex":0,"noFollow":0},"content":"The vast majority of bond offerings are rather staid investments. You give your money to a government or corporation. You receive a steady flow of income, usually twice a year, for a certain number of years. Then, typically after a few years, you get your original money back. Sometimes you pay taxes. A broker usually takes a cut. Beginning and end of story.\r\n\r\nThe reason for bonds’ staid status is not only that they provide steady and predictable streams of income, but also that as a bondholder you have first dibs on the issuer’s money. A corporation is legally bound to pay you your interest before it doles out any dividends to people who own company stock.\r\n\r\nIf a company starts to go through hard times, any proceeds from the business or (in the case of an actual bankruptcy) from the sale of assets go to you before they go to shareholders.\r\n\r\nHowever, bonds offer no ironclad guarantees. All investments carry some risk, such as reinvestment risk.\r\n\r\nWhen you invest $1,000 in, say, a 20-year bond paying 6 percent, you may be counting on your money compounding every year. If that is the case — if your money does compound, and you reinvest all your interest payments at 6 percent — after 20 years you’ll have $3,262.\r\n\r\nBut suppose you invest $1,000 in a 20-year bond paying 6 percent and, after four years, the bond is <i>called</i><i>.</i> The bond issuer unceremoniously gives back your principal, and you no longer hold the bond. Interest rates have dropped in the past four years, and now the best you can do is to buy another bond that pays 4 percent.\r\n\r\nSuppose you do just that, and you hold the new bond for the remainder of the 20 years. Instead of $3,262, you are left with $2,387 — about 27 percent less money.\r\n\r\nThis is called <i>reinvestment</i> risk, and it’s a very real risk of bond investing, especially when you buy callable or shorter-term individual bonds. Of course, you can buy non-callable bonds and earn less interest, or you can buy longer-term bonds and risk that interest rates will rise. Tradeoffs! Tradeoffs! This is what investing is all about.\r\n<p class=\"Tip\">Note that one way of dealing with reinvestment risk is to treat periods of declining interest rates as only temporary investment setbacks. What goes down usually goes back up.</p>","description":"The vast majority of bond offerings are rather staid investments. You give your money to a government or corporation. You receive a steady flow of income, usually twice a year, for a certain number of years. Then, typically after a few years, you get your original money back. Sometimes you pay taxes. A broker usually takes a cut. Beginning and end of story.\r\n\r\nThe reason for bonds’ staid status is not only that they provide steady and predictable streams of income, but also that as a bondholder you have first dibs on the issuer’s money. A corporation is legally bound to pay you your interest before it doles out any dividends to people who own company stock.\r\n\r\nIf a company starts to go through hard times, any proceeds from the business or (in the case of an actual bankruptcy) from the sale of assets go to you before they go to shareholders.\r\n\r\nHowever, bonds offer no ironclad guarantees. All investments carry some risk, such as reinvestment risk.\r\n\r\nWhen you invest $1,000 in, say, a 20-year bond paying 6 percent, you may be counting on your money compounding every year. If that is the case — if your money does compound, and you reinvest all your interest payments at 6 percent — after 20 years you’ll have $3,262.\r\n\r\nBut suppose you invest $1,000 in a 20-year bond paying 6 percent and, after four years, the bond is <i>called</i><i>.</i> The bond issuer unceremoniously gives back your principal, and you no longer hold the bond. Interest rates have dropped in the past four years, and now the best you can do is to buy another bond that pays 4 percent.\r\n\r\nSuppose you do just that, and you hold the new bond for the remainder of the 20 years. Instead of $3,262, you are left with $2,387 — about 27 percent less money.\r\n\r\nThis is called <i>reinvestment</i> risk, and it’s a very real risk of bond investing, especially when you buy callable or shorter-term individual bonds. Of course, you can buy non-callable bonds and earn less interest, or you can buy longer-term bonds and risk that interest rates will rise. Tradeoffs! Tradeoffs! This is what investing is all about.\r\n<p class=\"Tip\">Note that one way of dealing with reinvestment risk is to treat periods of declining interest rates as only temporary investment setbacks. What goes down usually goes back up.</p>","blurb":"","authors":[{"authorId":9023,"name":"Russell Wild","slug":"russell-wild","description":" <b>Russell Wild,</b> MBA, an expert on index investing, is a fee-only financial planner and investment advisor and the principal of Global Portfolios. He is the author or coauthor of nearly two dozen nonfiction books.","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9023"}}],"primaryCategoryTaxonomy":{"categoryId":34291,"title":"Bonds","slug":"bonds","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34291"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":208279,"title":"Bond Investing For Dummies Cheat Sheet","slug":"bond-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208279"}},{"articleId":175087,"title":"Questions to Ask a Bond Broker about a Bond","slug":"questions-to-ask-a-bond-broker-about-a-bond","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/175087"}},{"articleId":175085,"title":"How to Read Bond Ratings","slug":"how-to-read-bond-ratings","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/175085"}},{"articleId":175062,"title":"Important Websites for Bond Investors","slug":"important-websites-for-bond-investors","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/175062"}},{"articleId":175054,"title":"How to Choose between a Taxable and a Tax-Free Municipal Bond","slug":"how-to-choose-between-a-taxable-and-a-tax-free-municipal-bond","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/175054"}}],"fromCategory":[{"articleId":275083,"title":"How to Invest in Bonds","slug":"how-to-invest-in-bonds","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/275083"}},{"articleId":208279,"title":"Bond Investing For Dummies Cheat Sheet","slug":"bond-investing-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208279"}},{"articleId":207444,"title":"<b>Investing in Bonds For Dummies Cheat Sheet</b>","slug":"investing-in-bonds-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/207444"}},{"articleId":202959,"title":"Buying U.S. Savings Bonds in an Uncertain Economy","slug":"buying-u-s-savings-bonds-in-an-uncertain-economy","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/202959"}},{"articleId":202861,"title":"Savings Bonds Pros and Cons","slug":"savings-bonds-pros-and-cons","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/202861"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282006,"slug":"bond-investing-for-dummies-2nd-edition","isbn":"9781118274439","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","bonds"],"amazon":{"default":"https://www.amazon.com/gp/product/1118274431/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1118274431/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1118274431-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1118274431/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1118274431/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/bond-investing-for-dummies-2nd-edition-cover-9781118274439-203x255.jpg","width":203,"height":255},"title":"Bond Investing For Dummies","testBankPinActivationLink":"","bookOutOfPrint":false,"authorsInfo":"<p><b data-author-id=\"9023\">Russell Wild, MBA,</b> is the author or coauthor of many nonfiction books, including <i>Exchange-Traded Funds For Dummies, Index Investing For Dummies,</i> and <i>One Year to an Organized Financial Life</i>. He is a NAPFA-certified financial advisor, registered with the Pennsylvania Securities Commission. </p>","authors":[{"authorId":9023,"name":"Russell Wild","slug":"russell-wild","description":" <b>Russell Wild,</b> MBA, an expert on index investing, is a fee-only financial planner and investment advisor and the principal of Global Portfolios. He is the author or coauthor of nearly two dozen nonfiction books.","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9023"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;investment-vehicles&quot;,&quot;bonds&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118274439&quot;]}]\" id=\"du-slot-62eab7fcb3154\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;investing&quot;,&quot;investment-vehicles&quot;,&quot;bonds&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118274439&quot;]}]\" id=\"du-slot-62eab7fcb39e7\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Five years","lifeExpectancySetFrom":"2022-08-03T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":172189},{"headers":{"creationTime":"2016-03-26T15:35:26+00:00","modifiedTime":"2022-08-02T18:46:54+00:00","timestamp":"2022-08-02T20:19:04+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Business","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34225"},"slug":"business","categoryId":34225},{"name":"Accounting","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34226"},"slug":"accounting","categoryId":34226},{"name":"General Accounting","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34230"},"slug":"general-accounting","categoryId":34230}],"title":"What Capital Is in Corporate Finance","strippedTitle":"what capital is in corporate finance","slug":"what-capital-is-in-corporate-finance","canonicalUrl":"","seo":{"metaDescription":"Learn about the types of assets and capital within a corporation, including the cash used to launch the venture.","noIndex":0,"noFollow":0},"content":"Everything that makes up a corporation and everything a corporation owns, including the building, equipment, office supplies, brand value, research, land, trademarks, and everything else, are considered <i>assets.</i> Believe it or not, when you start a corporation, that company’s assets aren’t just included in a Welcome Letter; you have to go out and acquire them. Generally speaking, you start off with cash, which you then use to purchase other assets.\r\n\r\nFor most new companies, this cash consists of a combination of the following:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><b>The owner’s own money:</b> This money is considered <i>equity</i> because the owner can still claim full possession over it.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>Small loans, such as business and personal loans from banks, business and personal lines of credit, and government loans:</b> The money obtained through loans is considered a <i>liability</i> because the corporation has to pay it back at some point. In other words, these loans are a form of debt.</p>\r\n</li>\r\n</ul>\r\nThe combination of these two funding sources leads to the explanation of the most fundamental equation in corporate finance:\r\n<blockquote>Assets = Liabilities + Equity</blockquote>\r\nThe total value of assets held by a company is equal to the total liabilities and total equity held by the company. Because the total amount of debt a company incurs goes into purchasing equipment and supplies, increasing debt through loans increases a company’s liabilities and total assets.\r\n\r\nAs an owner contributes his own funding to the company’s usage, the total amount of company equity increases along with the assets. <b><i>Note:</i></b> <i>Capital, assets, money,</i> and <i>cash</i> are basically all the same thing at this point; after a company raises the original capital, or cash, it exchanges that cash for more useful forms of capital, such as erasable markers.\r\n\r\nUnlike liabilities,<i> </i>equity represents ownership in the company. So if a company owns $100,000 in assets and $50,000 was funded by loans, then the owner still holds claim over $50,000 in assets, even if the company goes out of business, requiring the owner to give the other $50,000 in assets back to the bank.\r\n\r\nFor corporations, the equity funding varies a bit, however, because the owners of a corporation are the stockholders. The equity funding of corporations comes from the initial sale of stock, which exchanges shares of ownership for cash to be used in the company.","description":"Everything that makes up a corporation and everything a corporation owns, including the building, equipment, office supplies, brand value, research, land, trademarks, and everything else, are considered <i>assets.</i> Believe it or not, when you start a corporation, that company’s assets aren’t just included in a Welcome Letter; you have to go out and acquire them. Generally speaking, you start off with cash, which you then use to purchase other assets.\r\n\r\nFor most new companies, this cash consists of a combination of the following:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><b>The owner’s own money:</b> This money is considered <i>equity</i> because the owner can still claim full possession over it.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>Small loans, such as business and personal loans from banks, business and personal lines of credit, and government loans:</b> The money obtained through loans is considered a <i>liability</i> because the corporation has to pay it back at some point. In other words, these loans are a form of debt.</p>\r\n</li>\r\n</ul>\r\nThe combination of these two funding sources leads to the explanation of the most fundamental equation in corporate finance:\r\n<blockquote>Assets = Liabilities + Equity</blockquote>\r\nThe total value of assets held by a company is equal to the total liabilities and total equity held by the company. Because the total amount of debt a company incurs goes into purchasing equipment and supplies, increasing debt through loans increases a company’s liabilities and total assets.\r\n\r\nAs an owner contributes his own funding to the company’s usage, the total amount of company equity increases along with the assets. <b><i>Note:</i></b> <i>Capital, assets, money,</i> and <i>cash</i> are basically all the same thing at this point; after a company raises the original capital, or cash, it exchanges that cash for more useful forms of capital, such as erasable markers.\r\n\r\nUnlike liabilities,<i> </i>equity represents ownership in the company. So if a company owns $100,000 in assets and $50,000 was funded by loans, then the owner still holds claim over $50,000 in assets, even if the company goes out of business, requiring the owner to give the other $50,000 in assets back to the bank.\r\n\r\nFor corporations, the equity funding varies a bit, however, because the owners of a corporation are the stockholders. The equity funding of corporations comes from the initial sale of stock, which exchanges shares of ownership for cash to be used in the company.","blurb":"","authors":[{"authorId":9764,"name":"Michael Taillard","slug":"michael-taillard","description":" <p><b>Michael Taillard, PhD, MBA,</b> owns and operates OPII Schools, an award-winning national private school and tutoring company designed as a philanthropic experiment in macroeconomic cash flows as a form of urban renewal.</p>","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9764"}}],"primaryCategoryTaxonomy":{"categoryId":34230,"title":"General Accounting","slug":"general-accounting","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34230"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":208127,"title":"Corporate Finance For Dummies Cheat Sheet","slug":"corporate-finance-for-dummies-cheat-sheet","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208127"}},{"articleId":171478,"title":"Pursuing Corporate Finance Professionally","slug":"pursuing-corporate-finance-professionally-2","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/171478"}},{"articleId":171477,"title":"Understanding How Behavior Affects Corporate Finance","slug":"understanding-how-behavior-affects-corporate-finance","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/171477"}},{"articleId":169321,"title":"The Gross Profit Portion of the Corporate Income Statement","slug":"the-gross-profit-portion-of-the-corporate-income-statement","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/169321"}},{"articleId":169320,"title":"How Corporate Finance Rules Your Life","slug":"how-corporate-finance-rules-your-life","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/169320"}}],"fromCategory":[{"articleId":277438,"title":"Financial Accounting: The Effect of Business Transactions","slug":"financial-accounting-the-effect-of-business-transactions","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277438"}},{"articleId":277429,"title":"What Are Accounting Journals?","slug":"what-are-accounting-journals","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277429"}},{"articleId":277423,"title":"How to Read Corporate Annual Reports","slug":"how-to-read-corporate-annual-reports","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277423"}},{"articleId":277418,"title":"Showing the Money: The Statement of Cash Flows","slug":"showing-the-money-the-statement-of-cash-flows","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277418"}},{"articleId":277410,"title":"10 Accounting Career Opportunities","slug":"10-accounting-career-opportunities","categoryList":["business-careers-money","business","accounting","general-accounting"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/277410"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282117,"slug":"corporate-finance-for-dummies","isbn":"9781119850311","categoryList":["business-careers-money","business","accounting","general-accounting"],"amazon":{"default":"https://www.amazon.com/gp/product/1119850312/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1119850312/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1119850312-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1119850312/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1119850312/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/9781119850311-1-203x255.jpg","width":203,"height":255},"title":"Corporate Finance For Dummies","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><b><b data-author-id=\"9764\">Michael Taillard</b>, PhD, MBA,</b> owns and operates OPII Schools, an award-winning national private school and tutoring company designed as a philanthropic experiment in macroeconomic cash flows as a form of urban renewal.</p>","authors":[{"authorId":9764,"name":"Michael Taillard","slug":"michael-taillard","description":" <p><b>Michael Taillard, PhD, MBA,</b> owns and operates OPII Schools, an award-winning national private school and tutoring company designed as a philanthropic experiment in macroeconomic cash flows as a form of urban renewal.</p>","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9764"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;accounting&quot;,&quot;general-accounting&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119850311&quot;]}]\" id=\"du-slot-62e986b8d0cd7\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;business&quot;,&quot;accounting&quot;,&quot;general-accounting&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119850311&quot;]}]\" id=\"du-slot-62e986b8d1f03\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Five years","lifeExpectancySetFrom":"2022-08-02T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":169309},{"headers":{"creationTime":"2016-03-26T21:01:55+00:00","modifiedTime":"2022-08-02T17:55:37+00:00","timestamp":"2022-08-02T18:01:11+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"Investing","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34288"},"slug":"investing","categoryId":34288},{"name":"Investment Vehicles","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34290"},"slug":"investment-vehicles","categoryId":34290},{"name":"Dividends","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34294"},"slug":"dividends","categoryId":34294}],"title":"Value Investing: How to Spot a Bargain","strippedTitle":"value investing: how to spot a bargain","slug":"value-investing-how-to-spot-a-bargain","canonicalUrl":"","seo":{"metaDescription":"Learn the various factors successful value investors consider as they look for great bargains in the stock market.","noIndex":0,"noFollow":0},"content":"Some people are better at bargain hunting than others. What usually separates the clueless from the pros is that the pros know what something is worth. The same is true for finding bargains on Wall Street. You need to know what a stock is worth, and low price isn’t always a bargain.\r\n\r\nValue investors hunt for bargains, but they buy only after performing some careful research and crunching the numbers. When you spot a stock that seems to be underpriced, ask the following questions to determine whether it’s a real buy:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><b>Is this stock down due to market conditions? </b>If the broader stock market is down, possibly due to an economic slowdown or recession, chances are good that most other stocks are down too. If the share price falls but the company’s fundamentals remain strong, this stock may be the bargain you’ve been looking for. (If the market is up but the stock is down, the stock isn’t necessarily a loser. The drop in share price may be an anomaly representing a good buying opportunity. Ask more questions.)</p>\r\n</li>\r\n</ul>\r\n<p class=\"Remember\">When market conditions turn sour, a rational reason for indiscriminate selling is when investors experience a liquidity crisis. Desperate for cash but unable to sell their worst money-losing investments, investors in this situation sell what they can, typically their most liquid stocks and bonds. Often these may be their best investments, but the need for cash forces them to sell. This scenario provides a bargain for the value investor.</p>\r\n\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><b>Is this stock down because of sector news? </b>If bad news comes out of one stock in the sector, traders may flee from stocks in the same sector. If a good company’s stock takes a hit because of another company’s misfortune, that’s a bargain waiting to happen.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>Is the stock down because it’s not in a sexy industry? </b>At the peak of the tech bubble, anything that wasn’t a technology stock (pretty much anything that functioned as a part of the economy prior to 1980) was considered out of fashion, and their stock prices fell as a result. However, they continued to post earnings and revenue growth. The industrials, manufacturers, food processors, and other standard bearers became value stocks in the late 1990s. Value investors were rewarded for their patience and conviction when the tech bubble burst and investors returned to more traditional companies.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>Is this stock down because of problems specific to this company? </b>If investors have fled for good reason, sell shares in the company if you own them or avoid buying if you don’t. However, keep in mind that the market tends to overreact and that some negative news can be very short-lived, especially if it’s not true. A passing bit of bad news can trigger a good buying opportunity, but if the news points out fundamental problems in the company’s success or operations, watch out. Be wary of the following:</p>\r\n\r\n<ul class=\"level-two\">\r\n \t<li>\r\n<p class=\"first-para\">Declining sales or earnings</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Excessive debt</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Little or no cash flow</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Scandal</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Illegality, such as falsifying documents or insider trading</p>\r\n</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIf this stock has a lot of issues, the beautiful thing about the stock market is you don’t have to hang around. Money can stagnate or even rot in a dead stock, but if you sell and put the money into a true value stock, you may be able to recoup some of your losses.","description":"Some people are better at bargain hunting than others. What usually separates the clueless from the pros is that the pros know what something is worth. The same is true for finding bargains on Wall Street. You need to know what a stock is worth, and low price isn’t always a bargain.\r\n\r\nValue investors hunt for bargains, but they buy only after performing some careful research and crunching the numbers. When you spot a stock that seems to be underpriced, ask the following questions to determine whether it’s a real buy:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><b>Is this stock down due to market conditions? </b>If the broader stock market is down, possibly due to an economic slowdown or recession, chances are good that most other stocks are down too. If the share price falls but the company’s fundamentals remain strong, this stock may be the bargain you’ve been looking for. (If the market is up but the stock is down, the stock isn’t necessarily a loser. The drop in share price may be an anomaly representing a good buying opportunity. Ask more questions.)</p>\r\n</li>\r\n</ul>\r\n<p class=\"Remember\">When market conditions turn sour, a rational reason for indiscriminate selling is when investors experience a liquidity crisis. Desperate for cash but unable to sell their worst money-losing investments, investors in this situation sell what they can, typically their most liquid stocks and bonds. Often these may be their best investments, but the need for cash forces them to sell. This scenario provides a bargain for the value investor.</p>\r\n\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><b>Is this stock down because of sector news? </b>If bad news comes out of one stock in the sector, traders may flee from stocks in the same sector. If a good company’s stock takes a hit because of another company’s misfortune, that’s a bargain waiting to happen.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>Is the stock down because it’s not in a sexy industry? </b>At the peak of the tech bubble, anything that wasn’t a technology stock (pretty much anything that functioned as a part of the economy prior to 1980) was considered out of fashion, and their stock prices fell as a result. However, they continued to post earnings and revenue growth. The industrials, manufacturers, food processors, and other standard bearers became value stocks in the late 1990s. Value investors were rewarded for their patience and conviction when the tech bubble burst and investors returned to more traditional companies.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><b>Is this stock down because of problems specific to this company? </b>If investors have fled for good reason, sell shares in the company if you own them or avoid buying if you don’t. However, keep in mind that the market tends to overreact and that some negative news can be very short-lived, especially if it’s not true. A passing bit of bad news can trigger a good buying opportunity, but if the news points out fundamental problems in the company’s success or operations, watch out. Be wary of the following:</p>\r\n\r\n<ul class=\"level-two\">\r\n \t<li>\r\n<p class=\"first-para\">Declining sales or earnings</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Excessive debt</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Little or no cash flow</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Scandal</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Illegality, such as falsifying documents or insider trading</p>\r\n</li>\r\n</ul>\r\n</li>\r\n</ul>\r\nIf this stock has a lot of issues, the beautiful thing about the stock market is you don’t have to hang around. Money can stagnate or even rot in a dead stock, but if you sell and put the money into a true value stock, you may be able to recoup some of your losses.","blurb":"","authors":[{"authorId":9024,"name":"Lawrence Carrel","slug":"lawrence-carrel","description":" <p><b>Lawrence Carrel</b> is a contributing writer for <i>The Journal of Indexes</i> &#47; IndexUniverse.com, where he writes a weekly column on the exchange&#45;traded fund and indexing industries. ","_links":{"self":"https://dummies-api.dummies.com/v2/authors/9024"}}],"primaryCategoryTaxonomy":{"categoryId":34294,"title":"Dividends","slug":"dividends","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34294"}},"secondaryCategoryTaxonomy":{"categoryId":34298,"title":"Stocks","slug":"stocks","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34298"}},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":209141,"title":"Dividend Stocks For Dummies Cheat Sheet","slug":"dividend-stocks-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/209141"}},{"articleId":193296,"title":"Investing in the Top Sectors for Dividend Stocks","slug":"investing-in-the-top-sectors-for-dividend-stocks","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/193296"}},{"articleId":193295,"title":"Performing Your Due Diligence when Investing in Dividend Stocks","slug":"performing-your-due-diligence-when-investing-in-dividend-stocks","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/193295"}},{"articleId":193294,"title":"Six Signs of a Promising Dividend Stock Company","slug":"six-signs-of-a-promising-dividend-stock-company","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/193294"}},{"articleId":193287,"title":"Researching Your Dividend Stock Picks with Important Formulas","slug":"researching-your-dividend-stock-picks-with-important-formulas","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/193287"}}],"fromCategory":[{"articleId":209141,"title":"Dividend Stocks For Dummies Cheat Sheet","slug":"dividend-stocks-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/209141"}},{"articleId":207442,"title":"Investing in Dividends For Dummies Cheat Sheet","slug":"investing-in-dividends-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/207442"}},{"articleId":193294,"title":"Six Signs of a Promising Dividend Stock Company","slug":"six-signs-of-a-promising-dividend-stock-company","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/193294"}},{"articleId":193295,"title":"Performing Your Due Diligence when Investing in Dividend Stocks","slug":"performing-your-due-diligence-when-investing-in-dividend-stocks","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/193295"}},{"articleId":193296,"title":"Investing in the Top Sectors for Dividend Stocks","slug":"investing-in-the-top-sectors-for-dividend-stocks","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/193296"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282156,"slug":"dividend-stocks-for-dummies","isbn":"9780470466018","categoryList":["business-careers-money","personal-finance","investing","investment-vehicles","dividends"],"amazon":{"default":"https://www.amazon.com/gp/product/0470466014/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/0470466014/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/0470466014-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/0470466014/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/0470466014/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/dividend-stocks-for-dummies-cover-9780470466018-203x255.jpg","width":203,"height":255},"title":"Dividend Stocks For Dummies","testBankPinActivationLink":"","bookOutOfPrint":false,"authorsInfo":"<b data-author-id=\"9024\">Lawrence Carrel</b> is a financial journalist and served as a staff writer at TheWallStreetJournal.com, SmartMoney.com, and TheStreet.com. He is the author of <i>ETFs for the Long Run: What They Are, How They Work, and Simple Strategies for Successful Long-Term Investing</i> (Wiley).","authors":[{"authorId":9024,"name":"Lawrence Carrel","slug":"lawrence-carrel","description":" <p><b>Lawrence Carrel</b> is a contributing writer for <i>The Journal of Indexes</i> &#47; IndexUniverse.com, where he writes a weekly column on the exchange&#45;traded fund and indexing industries. 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Whether you’re managing a budget, an estate, or a team of professionals, you’ll learn how to achieve your goals with these articles. Covering everything from cryptocurrency to customer service, Dummies can help you move toward your dream job, grow a business, plan for retirement, or keep your finances in shape.

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General Accounting Separable Cost Reduction in Cost Accounting

Article / Updated 08-11-2022

In cost accounting, the cost of goods available for sale represents the product’s total costs. Total costs have two components — joint costs and separable costs. When possible, you want to reduce separable costs, but first take a look at your company’s joint costs. Assume you manufacture leaf blowers. Your two products are heavy-duty blowers and yardwork blowers. The separable costs are $1,200,000 for the heavy-duty blower and $912,000 for the yardwork blower. If you know the separable costs and the cost of goods available for sale, you can compute the joint cost allocation. This table shows the process. Joint Cost Allocation Heavy-Duty Yardwork Total Cost of goods available for sale $1,751,163 $1,260,837 $3,012,000 Less separable costs $1,200,000 $912,000 $2,112,000 Equals joint cost allocation $551,163 $348,837 $900,000 Each company division provides the separable costs. So altogether, this table gives you a joint cost allocation. Now assume that the heavy-duty blower division is able to sharply reduce its separable costs to an amazingly low $500,000. The first table listed heavy-duty separable costs of $1,200,000. Consider what now happens to heavy-duty’s joint cost allocation. Take a look at the next table. Cost Allocation — Less Heavy Duty Separable Costs Heavy-Duty Yardwork Total Cost of goods available for sale $1,751,163 $1,260,837 $3,012,000 Less separable costs $500,000 $912,000 $1,412,000 Equals joint cost allocation $1,251,163 $348,837 $1,600,000 Heavy-duty’s joint cost allocation increases to $1,251,163 (from $551,163). That doesn’t seem right. The goal is to analyze costs to reduce or eliminate them. If you do, supposedly you increase your profits. In this case, the heavy-duty division’s reducing separable costs increased its joint cost allocation. There doesn’t seem to be a benefit to operating more efficiently. Here’s an explanation: The gross margin percentage method (calculated as gross margin ÷ total sales value x 100) locks in total costs as a percentage of sales value. If the gross margin is about 12.5 percent of sales value, it means that costs must be about 87.5 percent of sales value. For heavy-duty, that 87.5 percent total cost number is $1,751,163. Those costs are either separable or joint costs. If one increases, the other decreases. The heavy-duty manager may have a problem with this process. The manager works hard (using good old cost accounting) to lower the separable costs. The manager’s “reward” is a higher joint cost allocation. The heavy-duty division has lowered costs but doesn’t get any savings in total costs. The constant gross margin percentage method clarifies the revenue and profit calculations company-wide. This method eliminates some of the variation between company divisions. Although some managers may complain, each division has the same gross margin percentage. The process makes managing company profit easier. This is one of those “Here’s why the chief financial officer (CFO) makes the big bucks” moments. As CFO, you explain the gross margin percentage method to the heavy-duty division manager. The goal is to allocate joint costs so that each product maintains the same gross margin percentage of about 12.5 percent. If a division reduces separable costs, it must get a bigger joint cost allocation — otherwise, the gross margin percentage would increase. Now heavy-duty’s manager should be evaluated based on the successful cost reduction. The manager had a success, and you want to encourage more cost savings. Although the gross margin percentage process requires a bigger joint cost allocation, that must not take away from the manager’s good performance.

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General Accounting Cost Accounting: Joint Cost Allocation and Gross Margin Percentage

Article / Updated 08-11-2022

In cost accounting, the cost of goods available for sale represents the product’s total costs. Total costs have two components — joint costs and separable costs. Assume the cost of goods available for sale are $1,751,163 and $1,260,837 for the heavy-duty blower and the yardwork blower. Say the separable costs are $1,200,000 and $912,000. If you know the separable costs and the cost of goods available for sale, you can compute the joint cost allocation. The first table shows the process. Joint Cost Allocation Heavy-Duty Yardwork Total Cost of goods available for sale $1,751,163 $1,260,837 $3,012,000 Less separable costs $1,200,000 $912,000 $2,112,000 Equals joint cost allocation $551,163 $348,837 $900,000 Each company division provides the separable costs. So altogether, the table gives you a joint cost allocation. Now calculate the gross margin percentage. Say your sales values are $2,000,00 and $1,440,000 for heavy-duty and yardwork blowers. The total cost is the cost of goods available for sale from the first table. The gross margin percentage is the gross margin divided by the sales value. For each product, the gross margin percentage is the same (12.442 percent) as the company’s overall gross margin. Verifying Gross Margin Percentage Heavy-Duty Yardwork Total Sales value (A) $2,000,000 $1,440,000 $3,440,000 Total cost (B) $1,751,163 $1,260,837 $3,012,000 Gross margin (A – B) $248,837 $179,163 $428,000 Gross margin percentage 12.442 12.442 Here’s the point of this table: it uses the traditional formula to compute gross margin and gross margin percentage. The table verifies that the calculations are correct. If the heavy-duty product has the higher sales value, it ends up with a higher gross margin in dollars than the yardwork product. However, both sale values are multiplied by the same gross margin percentage. Both products have a gross margin of about 12.5 percent (rounded). That means that about 87.5 percent of sales value represents cost of goods available for sale.

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General Careers How to Develop Your Unique Promise of Value and Personal Brand Statement

Article / Updated 08-10-2022

Your unique promise of value and your personal brand statement are closely linked; the statement is an expression of the promise. Both of them focus on what your target audience expects from you; they create an expectation of what you can deliver. These pieces of your personal brand profile are probably the most important (no pressure!), so you want to take your time and get them right before you start to communicate with your target audience. Identifying your unique promise of value Your unique promise of value is a promise that you make to your target market that your brand will fulfill. It’s the personal aspect of your brand that is aligned with your mission and values. Your promise of value is the essence of what you have to offer and guides you in how you live your personal brand. It clarifies and communicates what makes you special — what makes you different from other people. Crafting this promise requires understanding your values, interests, strengths, and personal qualities and using them to distinguish yourself. Lida Citroën, in her book Reputation 360 (Palisades Publishing), offers this advice when crafting your brand promise: Your brand promise should look something like this: “In order to be known for (your desired brand qualities), I will hold myself out to others in this way: (your behavior, actions, attitude); and I will demonstrate authenticity in this way: (how you will let people see you as real, genuine). I will know my brand promise is working when I see this: (benefits, goals you hope to achieve).” You must be able to live up to your promise of value. You’re always better off under-promising and over-delivering to those you serve. Your brand promise is what you want to be known for. It can be the promise of value of who you are today or it can be written as who you aspire to become. Here’s an example of a unique promise of value: I am known for my creativity, enthusiasm, and intelligence by serving each client with respect, giving them individual attention, and treating them with unconditional positive regard. I am an expert in my field and use my knowledge to help my clients and students excel. My clients appreciate my solid, grounded approach during times of transition and trust my guidance through the process. Move from your promise to your personal brand statement After you’re satisfied with what you’ve developed as your unique promise of value, you can turn your attention to writing the all-important personal brand statement. When you work on your own statement, keep in mind the central themes that emerge and think about your attributes. Then, envision your best self! To begin your thought process on what your brand might include, answer the following questions: What three or four keywords describe your essential qualities quickly and clearly? What is your essence factor, the core of who you are? “I know I am in my element when __________.” What is your authority factor, the knowledge that you hold and skills that you possess? “People recognize my expertise in _________.” What is your superstar factor, the qualities that set you apart? (This factor is how you get things done or what you’re known for.) “People comment on my ability to ___________.” Pepper your statement with “wow” words When writing your personal brand statement, you want to use words that best describe what you offer. The words you use should highlight your emotional attributes and motivate you so that you can deliver that brand to your target audience. Then, to communicate the action in your message, add key verbs like the ones listed here. Accomplish Analyze Articulate Budget Calculate Capitalize Classify Close Collaborate Communicate Conceptualize Conclude Decrease Demonstrate Distribute Educate Empower Engineer Enhance Examine Exceed Generate Identify Influence Integrate Listen Manufacture Mastermind Maximize Navigate Network Organize Pilot Pioneer Prospect Rebuild Redesign Reengineer Rehabilitate Simplify Slash Sold Strategize Supervise Systematize Teach Transition Upgrade Drafting your statement To give you a sense of what a personal brand statement could look like, here are examples: I am passionate about the development of people and am able to lighten the mood with my humor. I enjoy bringing that competitive spirit to solving my clients’ key advertising problems. The continuous challenge to learn fuels my love of accumulating knowledge. Driven by the energy of connections to others, I apply my solid intelligence as the interpreter of complex issues to create practical solutions while bringing a sense of fun into every situation. Grounded in my core beliefs, I identify the patterns and am able to look strategically into the future with a global perspective. Analyzing the DNA blueprint for my clients, I act as the bond between science and business to find opportunities by joining people and businesses through unique value-added insights. Acting as the conductor to the orchestra of people that I lead, I bring the pieces together to close I am the visionary sales leader of the South American practice. my customers count on me to navigate the complexities of multinational business. I am admired for not only how I lead my high-growth business but also for my work in the community in creating pathways out of poverty for those that I serve. My own statement reads this way: I bring creativity and enthusiasm into the lives of professionals using my expertise in career development and personal branding with an intelligent, customized approach. Gather keywords to use as a starting point for writing your statement, and then let it simmer until you know how you want to express yourself.

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Medicare How to Opt Out of Medicare Part B

Article / Updated 08-04-2022

Medicare Part B covers two kinds of health services: medically necessary care and preventive care. You need to think twice about saying no to Medicare Part B coverage, even though it costs a monthly premium to use it. (If that amount would be a hardship, you may be able to have the premiums paid by your state.) It’s an important decision you need to make during the enrollment process — especially if you’re signed up automatically — and you should be very clear on how to deal with it given your situation. There are situations when opting out of Part B is okay — in other words, not likely to cause you any regrets (or cost you money!) in the future. And there are situations when opting out is costly or causes other problems. Bizarrely, the rules are different for people who have Medicare because they’re 65 or older and those who have it at earlier ages because of a disability. So look separately at these two groups to know when people in each can confidently turn down Part B. Know when to turn down Part B if you’re 65 or older In general, when you’re 65 or older, you should decline Part B only if you have group health insurance from an employer for whom you or your spouse is still actively working and that insurance is primary to Medicare. (That is, it pays before Medicare does.) In this situation, you can delay Part B enrollment without penalty until the employment stops or the insurance ends. So if you’re not yet drawing Social Security retirement benefits, just skip signing up for Part B. Or if you’re enrolled automatically because you’re receiving those benefits, you can decline Part B by following the instructions that Social Security sends you in the letter that accompanies your Medicare card and meeting the specified deadline. Opting out ensures that you don’t have to pay Part B premiums or, if you’re receiving retirement benefits, have them deducted each month from your Social Security retirement check. But of course, if you prefer to pay for both employer insurance and Medicare coverage — and that’s entirely your choice — go ahead and enroll (or stay enrolled) in Part B. One group of people is especially prone to turn down Part B without giving it adequate thought: people age 65 and older who are in same-sex marriages or domestic arrangements with people of the same or the opposite sex and who are covered under health insurance from their partner’s employer. If you’re in either of these situations, you need to find out exactly how current law applies to you. When to turn down Part B if you’re under 65 In general, if you have Medicare based on disability, you should decline Part B only if You have health insurance from an employer for whom you or your spouse actively works, and the employer has 100 or more employees. You’re covered as a family member on somebody else’s group health plan at work, and the employer has 100 or more employees. What does family member mean? It means that the employer providing this insurance regards you as eligible for health coverage based on your domestic relationship with an employee — even if you aren’t formally married to that person and even if they are the same sex as you. When turning down Part B at any age is risky Regardless of whether you have Medicare based on disability or age, you should definitely enroll in Part B (or not refuse it) if you have health insurance that will automatically become secondary to Medicare (it will pay after Medicare does) when your Medicare benefits begin. This includes the following: Health insurance that you buy yourself on the open insurance market and that isn’t provided by an employer Health insurance from an employer with fewer than 20 employees (if you’re 65 or older) Health insurance from an employer with fewer than 100 employees (if you have Medicare because of disability) Retiree benefits from a former employer (your own or your spouse’s) Health benefits from the military’s TRICARE For Life retiree program When Medicare is primary coverage, it pays the bills You should enroll in Part B coverage in the preceding situations for a very good reason quite apart from the possibilities of late penalties down the road if you don’t. When Medicare is considered primary coverage, it pays your medical bills first. So if you’re not enrolled in Part B, you run the real risk of having your insurance plan deny any claims that Medicare could’ve paid — from basic ones like doctors’ visits and lab tests to major ones like surgery. In other words, you may face having to pay the entire bill. Worse, if your own insurer takes a while to realize that you haven’t enrolled in Part B, your plan may even ask you to pay back all the money it has spent on your medical services since you became eligible for Medicare. This kind of thing doesn’t always happen. For example, if you’re a federal retiree and receiving health insurance from a plan in the Federal Employee Health Benefits Program, you aren’t required to enroll in Part B. When deciding whether to accept or decline Part B, finding out whether Medicare would be primary or secondary to any other insurance that you have is critically important. Copyright © 2014 AARP. All rights reserved.

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General Business 5 Steps to Faster, More Informed Decisions

Article / Updated 08-03-2022

Can you make decisions swiftly and confidently when vast amounts of data cross your desk and inbox every day? How do you prioritize and rapidly respond in the midst of changing conditions? Well, you use the skills you already possess but may not be tapping into. Here’s an interesting correlation: The way you process information as you drive a vehicle also works for making an informed decision. If you drive well enough to be 98 percent accident-free, chances are you’re already a master of processing tons of data at high speed: You select pertinent information almost automatically and then use the information quickly and accurately. If you apply that innate skill to your decision-making, you can make informed business decisions without second guessing yourself. To sort from a sea of information, do these things: Focus on the outcome. Being clear about the end point does two things: Provides guidance for your intuition, enabling you to sift through all the available information to select what’s important for the decision you need to make Gives you a solid anchor for your decisions that can accommodate opposing facts and perspectives If, for example, the end point is to stay under budget, your decision and the data you use to inform your decision will be filtered based on that. If the end point is to produce a product that meets customers’ unstated needs, all the available information will be filtered using that criterion. The outcome anchors your decision making. Stop mentally concentrating on the issues and let your subconscious do the work for you. Your subconscious is faster than your conscious mind, and it works automatically when your focus is clear. When you turn the issue over to your subconscious, you gain speed and accuracy. Question and expose the beliefs you use to interpret how the world works. Beliefs, otherwise known as mental models — things you believe to be true but that may not actually reflect a widened view of reality — filter reality to confirm your previous experiences. Questioning your beliefs permits you to improve the accuracy of your analysis, jettison past connotations, and open up new possibilities. Observe your emotions. Step back to gain perspective and quiet the mental chatter so that you can accurately hear your inner voice. You’ll gain a wider view of the situation and be able to see alternatives. It’s easy to fall prey to doubt or to rationalize your decision. If you’re feeling fearful, you may think you have only one option or no options. In climates of high fear, when the rational dominates, making an informed decision requires that you achieve a calmer state of mind so that you can access your higher mental and intuitive functioning. After you analyze and review your options, select your decision, but before you commit, check in on how you feel about the option you’ve selected. Call it a heart check. Even when the solution is a totally new approach, you need to feel at peace with it. Making an informed decision requires that you work with both facts (actual data) and emotional information, and that you take steps to mitigate the effect of ingrained bias. Doing so requires that you commit to mastering all your senses and intelligences so that, in chaotic decision-making environments, you’ll be able to balance data with open-minded experimentation and stay sensitive to cues that other decision-makers will miss.

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Marketing 10 Tips for Designing a White Paper

Article / Updated 08-03-2022

Nothing undermines a good white paper faster than poor design. No matter how compelling and persuasive the text may be, if people can’t read it because of a poor design, they’ll quickly move on. Then all your effort and expense are for nothing. Here are ten down-to-earth tips for anyone designing a white paper. If you’re not sure how to design a white paper or you’ve never done one before, read on. If you’re a marketing manager who needs to direct a designer to format your white paper, this is for you. If you’re a white paper writer stuck trying to use Word to turn out respectable-looking pages, you’ve just hit pay dirt. Design to enhance the content A white paper isn’t a brochure, so it shouldn’t be as slick and colorful as one. But it needs to be more appealing than your father’s business report. Think of a page from a magazine, like Scientific American or Vanity Fair, or the front part of an annual report, before all the numbers. That kind of crisp, elegant editorial design is what to shoot for with your white paper. Effective design enhances the content of the white paper instead of drawing attention to itself. Your design must add value and clarity to that content instead of adding distractions or hurdles to legibility. Let the white paper’s message shine out from your pages. Consider your readers' eyesight Most people’s eyes begin to change in their 40s, and they start to need larger type to read comfortably. By coincidence, most B2B white papers are aimed at business decision makers, most of whom are in their 40s and older. And many people this age prefer to read on paper, so they likely print out a white paper rather than read it on-screen. Younger designers, take note: You’re not designing white papers for yourself and your peers; you’re designing for older people. That means forget gray text and color backgrounds. Black text on a white background has been the standard for legibility for hundreds of years; why change it? Bump up the body size type to 10 or 11 points; it’s free. Realize that text isn't a graphic The text is the content of a white paper. Look at your pages as text-driven content, where your challenge is to make the text as inviting and easy to read or scan as in any magazine you pick up — any magazine, mind you, aimed at people in their 40s and older. Make every page count Sure, every white paper needs a little front and back matter, but when the front and back matter add up to nearly two-thirds of a white paper, something is terribly wrong. Some misguided software templates lay out a white paper like a two-sided book, with a blank page on the back of the front cover and a back cover to tie it all together. Forget it! Most B2B buyers either look at your white paper on-screen or print it out single sided. Those other pages are just a waste of time and money. Be sure to compress the front and back matter, cut the worthless blank pages, and make every page count. Control page breaks Avoid starting a major section at the very bottom of a page, with only a line or two of text after it or cramming a new section beginning near a footnote or footer. There’s nothing wrong with leaving a little white space at the end of a major section. Just start the new section on a new page. White space gives readers a momentary visual and mental break and helps them understand the structure of the document. Avoid a wall of gray Some designers have the idea that a white paper is supposed to be serious, and by that, they think “a wall of gray.” They think all they have to do is just pour the text into the pages and be done with it. Any white paper with text formatted as a wall of gray may look serious, but it won’t invite anyone to read it. Leave lots of white space Another symptom of the wall-of-gray approach is teensy-tiny, itsy-bitsy, little margins around the text. Long horizontal lines of type are hard for readers’ eyes to scan and tough for their brains to process. If you format a white paper with minimal white space, you’ll lose most of your readers. Again, white space is free. So what if your final document is eight or ten pages long? If the content is compelling and the design is inviting, your readers won’t mind. Avoid smug shots So you’re looking for a stock shot for a white paper. That’s a fine way to break up the wall of gray. But by all means, skip the shots of the beautiful people wearing impeccable suits hunched over a pristine PC or shaking hands in some foyer drenched in sunlight. Everyone knows those are fake, posed shots. Pick photos that show average-looking people wearing typical clothes, doing something a little more interesting than shaking hands or peering at computer screens. Control hyphenation Most software does a terrible job of hyphenating English. Traditional typography called for at least four letters before any hyphen and at least three letters carried to the second line. Most typographers wouldn’t hyphenate a word with fewer than six letters. So don’t rely on automated hyphenation, and leave your text ragged right. Then scan your right margins, and if you see a major white space that you absolutely must eliminate, take two seconds to insert a manual hyphen. Refine a corporate template Some companies have a corporate template that they expect all designers to follow. These layouts may be perfect for a press release, an internal business report, or a data sheet, but they’re not always ideal for a white paper. If you feel strongly that the corporate template detracts from the readability and undermines the white paper content, make your views known. If you have the scope, make up two versions of the white paper: one following the existing template and another with your recommended changes. Circulate both versions to your team, your customer advisory board, and your manager. Get a second opinion from an experienced designer or a white paper expert.

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Bonds The Interest Rate Risk in Bond Investing

Article / Updated 08-03-2022

The vast majority of bond offerings are rather staid investments. You give your money to a government or corporation. You receive a steady flow of income, usually twice a year, for a certain number of years. Then, typically after a few years, you get your original money back. Sometimes you pay taxes. A broker usually takes a cut. Beginning and end of story. The reason for bonds’ staid status is not only that they provide steady and predictable streams of income, but also that as a bondholder you have first dibs on the issuer’s money. A corporation is legally bound to pay you your interest before it doles out any dividends to people who own company stock. If a company starts to go through hard times, any proceeds from the business or (in the case of an actual bankruptcy) from the sale of assets go to you before they go to shareholders. However, bonds offer no ironclad guarantees. First dibs on the money aside, bonds are not FDIC-insured savings accounts. They are not without some risk. For that matter, even an FDIC-insured savings account — even stuffing your money under the proverbial mattress! — also carries some risk. Interest rates go up, and interest rates go down. And whenever they do, bond prices move, almost in synch, in the opposite direction. Why? If you’re holding a bond that pays 5 percent, and interest rates move up so that most new bonds are paying 7 percent, your old bond becomes about as desirable to hold as a pet scorpion. Any rational buyer of bonds would, all things being equal, choose a new bond paying 7 percent rather than your relic, still paying only 5 percent. Should you try to sell the bond, unless you can find a real sucker, the price you are likely to get will be deeply discounted. The longer off the maturity of the bond, the more its price will drop with rising interest rates. Thus long-term bonds tend to be the most volatile of all bonds. Think it through: If you have a bond paying 5 percent that matures in a year, and the prevailing interest rate moves up to 7 percent, you’re looking at relatively inferior coupon payments for the next 12 months. If you’re holding a 5 percent bond that matures in ten years, you’re looking at potentially ten years of inferior coupon payments. No one wants to buy a bond offering ten years of inferior coupon payments unless she can get that bond for a steal. That’s why if you try to sell a bond after a period of rising interest rates, you take a loss. If you hold the bond to maturity, you can avoid that loss, but you pay an opportunity cost because your money is tied up earning less than the prevailing rate of interest. Either way, you lose. Of course, interest rate risk has its flip side: If interest rates fall, your existing bonds, paying the older, higher interest rates, suddenly start looking awfully good to potential buyers. They aren’t pet scorpions anymore — more like Cocker Spaniel puppies. If you decide to sell, you’ll get a handsome price. This “flip side” to interest rate risk is precisely what has caused the most peculiar situation in the past three decades, where the longest-term Treasury bonds (with 30-year maturities) have actually done as well as the S&P 500 in total returns. The yield on these babies has dipped from over 14 percent in the early 1980s to just a little over 3 percent today. Hence, those old bonds, which are now maturing, have turned to gold. Will this happen again in the next 30 years? Not unless long-term Treasuries in the year 2042 are being issued with a negative 8 percent interest rate. Of course, that isn’t going to happen. More likely, interest rates are going to climb back to historical norms. Interest rate risk has perhaps never been greater than it is today. You would be foolish to put your money into 30-year Treasuries and assume that you are going to get 11.5 percent a year annual return, as some very lucky investors have done over the last 30 years. Chances are, well . . . anything can happen over 30 years, but keep your expectations modest, please.

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Bonds The Reinvestment Risk in Bond Investing

Article / Updated 08-03-2022

The vast majority of bond offerings are rather staid investments. You give your money to a government or corporation. You receive a steady flow of income, usually twice a year, for a certain number of years. Then, typically after a few years, you get your original money back. Sometimes you pay taxes. A broker usually takes a cut. Beginning and end of story. The reason for bonds’ staid status is not only that they provide steady and predictable streams of income, but also that as a bondholder you have first dibs on the issuer’s money. A corporation is legally bound to pay you your interest before it doles out any dividends to people who own company stock. If a company starts to go through hard times, any proceeds from the business or (in the case of an actual bankruptcy) from the sale of assets go to you before they go to shareholders. However, bonds offer no ironclad guarantees. All investments carry some risk, such as reinvestment risk. When you invest $1,000 in, say, a 20-year bond paying 6 percent, you may be counting on your money compounding every year. If that is the case — if your money does compound, and you reinvest all your interest payments at 6 percent — after 20 years you’ll have $3,262. But suppose you invest $1,000 in a 20-year bond paying 6 percent and, after four years, the bond is called. The bond issuer unceremoniously gives back your principal, and you no longer hold the bond. Interest rates have dropped in the past four years, and now the best you can do is to buy another bond that pays 4 percent. Suppose you do just that, and you hold the new bond for the remainder of the 20 years. Instead of $3,262, you are left with $2,387 — about 27 percent less money. This is called reinvestment risk, and it’s a very real risk of bond investing, especially when you buy callable or shorter-term individual bonds. Of course, you can buy non-callable bonds and earn less interest, or you can buy longer-term bonds and risk that interest rates will rise. Tradeoffs! Tradeoffs! This is what investing is all about. Note that one way of dealing with reinvestment risk is to treat periods of declining interest rates as only temporary investment setbacks. What goes down usually goes back up.

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General Accounting What Capital Is in Corporate Finance

Article / Updated 08-02-2022

Everything that makes up a corporation and everything a corporation owns, including the building, equipment, office supplies, brand value, research, land, trademarks, and everything else, are considered assets. Believe it or not, when you start a corporation, that company’s assets aren’t just included in a Welcome Letter; you have to go out and acquire them. Generally speaking, you start off with cash, which you then use to purchase other assets. For most new companies, this cash consists of a combination of the following: The owner’s own money: This money is considered equity because the owner can still claim full possession over it. Small loans, such as business and personal loans from banks, business and personal lines of credit, and government loans: The money obtained through loans is considered a liability because the corporation has to pay it back at some point. In other words, these loans are a form of debt. The combination of these two funding sources leads to the explanation of the most fundamental equation in corporate finance: Assets = Liabilities + Equity The total value of assets held by a company is equal to the total liabilities and total equity held by the company. Because the total amount of debt a company incurs goes into purchasing equipment and supplies, increasing debt through loans increases a company’s liabilities and total assets. As an owner contributes his own funding to the company’s usage, the total amount of company equity increases along with the assets. Note: Capital, assets, money, and cash are basically all the same thing at this point; after a company raises the original capital, or cash, it exchanges that cash for more useful forms of capital, such as erasable markers. Unlike liabilities, equity represents ownership in the company. So if a company owns $100,000 in assets and $50,000 was funded by loans, then the owner still holds claim over $50,000 in assets, even if the company goes out of business, requiring the owner to give the other $50,000 in assets back to the bank. For corporations, the equity funding varies a bit, however, because the owners of a corporation are the stockholders. The equity funding of corporations comes from the initial sale of stock, which exchanges shares of ownership for cash to be used in the company.

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Dividends Value Investing: How to Spot a Bargain

Article / Updated 08-02-2022

Some people are better at bargain hunting than others. What usually separates the clueless from the pros is that the pros know what something is worth. The same is true for finding bargains on Wall Street. You need to know what a stock is worth, and low price isn’t always a bargain. Value investors hunt for bargains, but they buy only after performing some careful research and crunching the numbers. When you spot a stock that seems to be underpriced, ask the following questions to determine whether it’s a real buy: Is this stock down due to market conditions? If the broader stock market is down, possibly due to an economic slowdown or recession, chances are good that most other stocks are down too. If the share price falls but the company’s fundamentals remain strong, this stock may be the bargain you’ve been looking for. (If the market is up but the stock is down, the stock isn’t necessarily a loser. The drop in share price may be an anomaly representing a good buying opportunity. Ask more questions.) When market conditions turn sour, a rational reason for indiscriminate selling is when investors experience a liquidity crisis. Desperate for cash but unable to sell their worst money-losing investments, investors in this situation sell what they can, typically their most liquid stocks and bonds. Often these may be their best investments, but the need for cash forces them to sell. This scenario provides a bargain for the value investor. Is this stock down because of sector news? If bad news comes out of one stock in the sector, traders may flee from stocks in the same sector. If a good company’s stock takes a hit because of another company’s misfortune, that’s a bargain waiting to happen. Is the stock down because it’s not in a sexy industry? At the peak of the tech bubble, anything that wasn’t a technology stock (pretty much anything that functioned as a part of the economy prior to 1980) was considered out of fashion, and their stock prices fell as a result. However, they continued to post earnings and revenue growth. The industrials, manufacturers, food processors, and other standard bearers became value stocks in the late 1990s. Value investors were rewarded for their patience and conviction when the tech bubble burst and investors returned to more traditional companies. Is this stock down because of problems specific to this company? If investors have fled for good reason, sell shares in the company if you own them or avoid buying if you don’t. However, keep in mind that the market tends to overreact and that some negative news can be very short-lived, especially if it’s not true. A passing bit of bad news can trigger a good buying opportunity, but if the news points out fundamental problems in the company’s success or operations, watch out. Be wary of the following: Declining sales or earnings Excessive debt Little or no cash flow Scandal Illegality, such as falsifying documents or insider trading If this stock has a lot of issues, the beautiful thing about the stock market is you don’t have to hang around. Money can stagnate or even rot in a dead stock, but if you sell and put the money into a true value stock, you may be able to recoup some of your losses.

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