Warren Buffett: Inside the Ultimate Money Mind

Robert G. Hagstrom

Known for his in-depth analyses of Warren Buffett’s investing practices, Hagstrom delves into the influences that helped build those practices in his new book. Dissecting Buffett’s mind, he offers an extensive analysis of the philosophies of self-reliance, stoicism, rationalism and pragmatism and explains how they can contribute to your investment decisions.

The book also looks at value investing and its evolution, outlines the characteristics of good active management and offers tips on how to successfully develop a business-driven investing mindset.

Buy here: https://www.amazon.com/Warren-Buffett-Inside-Ultimate-Money/dp/1119714591

Richer, Wiser, Happier: How the World’s Greatest Investors Win in Markets and Life

William Green

William Green is a renowned financial journalist, who has written for Forbes, Time, Fortune and The New Yorker. Drawing on his interviews with many of the world’s biggest super-investors conducted over the past 25 years, his new book is a source of inspiration on how to build wealth and live a happy life. From insights from Sir John Templeton to Jack Bogle, Ed Thorp to Will Danoff, Charlie Munger to Mohnish Pabrai, and many more, Green offers us the gift of wisdom that comes from experience, in the hope that his book will enrich the life of every reader – both financially and personally.

Buy here: https://www.amazon.com/Richer-Wiser-Happier-Greatest-Investors-ebook/dp/B08BZXCPW5

Trend Following Mindset: The Genius of Legendary Trader Tom Basso

Michael Covel

International bestselling author Michael Covel’s new book shares the extraordinary conversations he’s had with Tom Basso on his Trend Following podcast. His discussions with the trading legend offer incredible insights into not just trading, but also business and life, as well as the role his mindset has played in achieving success.

An absolutely unmissable book for anyone interested in trend following – full of profound advice and inspiration!

Buy here: https://www.amazon.com/Trend-Following-Mindset-Genius-Legendary-ebook/dp/B08TRN5LRT 

Value(s): Building a Better World for All

Mark Carney

In a new book on the most pressing issues the world faces right now, the ex-Governor of the Bank of England and one of the great economic thinkers of our time Mark Carney explores the conflict between our values as a society and the economic market’s value.

One of this year’s absolute must-reads, labelled as ‘the essential handbook’ by Christine Lagarde, Value(s) uncovers global economic and social problems and offers realistic solutions on how to fix them in the post-COVID world.

Buy here: https://www.amazon.com/Value-must-read-politics-economics-Governor-ebook/dp/B089YBH89M

The Mental Game of Trading: A System for Solving Problems with Greed, Fear, Anger, Confidence, and Discipline

Jared Tendler

What are your most common trading mistakes? Jared Tendler’s new book The Mental Game of Trading offers a step-by-step trading psychology system that will help you fix them!

Looking at the mental side of trading as opposed to the technicalities, the internationally recognised mental game coach illustrates his system with examples from traders who have successfully followed it, promising excellent results for all types of traders!

Buy here: https://www.amazon.com/Mental-Game-Trading-Confidence-Discipline/dp/1734030917

More Straight Talk on Investing: Lessons for a Lifetime

Jack Brennan

Jack Brennan has devoted his career to helping people invest their money as the ex-Chairman and CEO of Vanguard. In his More Straight Talk on Investing book, he has compiled four decades’ worth of lessons, hoping to help readers develop the knowledge, discipline and confidence to navigate the financial markets and see consistent investment success.

With exceptional wit and intelligence, Brennan shares invaluable tips on investment that will resonate with both novice and more seasoned investors. This new edition offers three new chapters centred around evaluating advice options, garnering lessons from endowments and responding to a low-interest-rate environment.

Buy here: https://www.amazon.com/More-Straight-Talk-Investing-Lifetime/dp/1119817331

A Beginner's Guide to Bitcoin

Matthew R. Kratter and Victor Gray

With Bitcoin’s growing popularity, Matthew R. Kratter and Victor Gray have written a useful book that will teach readers everything they need to know before investing in Bitcoin. In addition to offering an array of excellent tips on investing in the cryptocurrency, it also covers topics like why the US Government can't ban Bitcoin and useful information on how to avoid the most costly mistakes beginners make.

Buy here: https://www.waterstones.com/book/bitcoin-guide-for-beginners/victor-gray//9781801667227

Capital Allocators: How the World’s Elite Money Managers Lead and Invest

Ted Seides

The finance leaders of today are the CIOs at endowments, foundations, family offices, pension funds, and sovereign wealth funds. However, these elite investors are rarely in the public eye but many of them have spoken with Ted Seides on his Capital Allocators podcast. Drawing on interviews from the first 150 episodes, this book offers an insight into the knowledge and experience of the world’s top professional investors.

It is an essential reading for current and fledging CIOs, the money managers that work with them and everyone interested in investing!

Buy here: https://www.amazon.com/Capital-Allocators-worlds-managers-invest-ebook/dp/B08N56SPN6

A Global Guide to FinTech and Future Payment Trends

Peter Goldfinch

In his book, payments specialist Peter Goldfinch sheds light on highly topical themes such as the evolution of payment systems from paper instruments to computerisation, their role in enabling commerce to contribute to the development of emerging economies, cryptocurrencies and the slow decline of physical credit and debit cards due to the introduction of alternative forms of payment.

A Global Guide to FinTech and Future Payment Trends offers a comprehensive overview of the evolution of payments, looking at the ways they’ll develop in the future and encouraging readers to explore their own predictions. Published earlier this year, the book is an unmissable summer reading for technologists, marketers, executives and investors in the FinTech field, as well as academics teaching business and technology courses.

Inclusive FinTech: Blockchain, Cryptocurrency and ICO

David Lee Kuo Chuen & Linda Low

With the uninterrupted growth of the cryptocurrency market and the new class of FinTech companies born out of digital finance, this book illustrates how the underlying technology innovation may be applied to a wide range of industries and explores trends in FinTech, blockchain and token sales.

Inclusive FinTech: Blockchain, Cryptocurrency and ICO’s aim is to dispel the numerous misconceptions about cryptocurrencies and blockchain (especially bitcoin, Initial Crypto-Token Offering or ICO), as well as the idea that businesses can be sustainable without a social dimension going forward. It is a book for people who are interested in switching to a more meaningful and sustainable career or for those on the lookout for new business opportunities. The book’s primary hope is to change our mindset and show the potential that digital economy has.

Blockchain Regulatory Compliance Made Easy

Jargon-Free Insights and Tips for Blockchain Executives and Compliance Professionals

Simone Domenico Casadei Bernardi

Authored by a compliance adviser who works with a number of crypto-businesses and FinTech companies, Blockchain Regulatory Compliance Made Easy is the blockchain regulation compliance bible. Jargon-free and easy to assimilate, the book delves into the ins and outs of compliance and the ways you can benefit from it, discovers the strands of financial services regulation, the different sources of regulation and the regulatory models in the US and EU and explains how a number of directives and regulations might apply to your blockchain FinTech business. It also offers advice on what to do when things go wrong, discussing what the consequences of a breach are and what happens if the regulator starts an investigation.

This book is a vital read for compliance professionals operating in the blockchain FinTech sector, crypto business owners and senior managers, as well as journalists and bloggers who struggle to get their heads around compliance.

Blockchain Design Sprint

Moses Ma & Langdon Morris

The blockchain era is the next tsunami of digital change and it’s only getting started; expected to disrupt business models and inspire more change than ever before. Blockchain Design Sprint hopes to educate readers on the impact that blockchain will have on their businesses and help them develop a successful strategy for surviving and thriving in the blockchain era.

The workbook combines powerful techniques from Agile Innovation design sprints to increase creativity, as well as carefully designed exercises focused directly on building a blockchain business. Designed to prepare the reader for the remarkable future that the advent of decentralised financial services and the blockchain promise, this FinTech edition focusses on exercises and special content for the financial services blockchain developer.

FinTech: The Banks Strike Back

Yves Eonnet & Herve Manceron

Technology is changing the way the financial industry works as FinTech companies, BigTech firms, and the markets for third-party services continue to develop. Failing to keep up with the latest digital trends and hindered by cumbersome branch networks, traditional banks are fighting for their survival. FinTech: The Banks Strike Back is a book that examines not just the ways banks are responding to the FinTech thread, but also how they’re striking back through reinventing themselves.

Here Finance Monthly hears from Andrew Hayden, Senior Product Marketing Manager at Winshuttle, who discusses the key accounting processes behind a successful digital transformation.

According to analyst group IDC, worldwide spend on the hardware, software and services that enable business process automation will surpass $2.1 trillion in the next four years.

Financial accounting is one business function notorious for manual and error-prone processes within Accounts Payable (AP), Accounts Receivable (AR) and General Ledger (GL). These functions are often targeted ‘low hanging fruit’ for companies to start their automation journey and prove the benefits of automation to other parts of the business.

1. Speeding up journal entries

Manually entering data through the SAP Graphical User Interface (GUI) is not only tedious and time consuming,  but it can also often lead to errors – and that means costly rework. SAP-enabled workbooks eliminate the need for manual data entry into SAP. This enables them to get their work done faster and with fewer errors and frees up more time to understand and describe anomalies or work on other high-value tasks.

2. Reduce invoicing traffic jams

At month end, AP and AR teams can usually be found with stacks of invoices on their desks, or furiously entering never-ending quantities of data into the ERP system. Creating and paying invoices is the kind of repetitive, high-volume, and time-sensitive activity that is ripe for automation.

Instead of manually entering supplier invoices or creating customer invoices via the SAP GUI, AP and AR clerks can use SAP-enabled Excel workbooks powered by Robotic Process Automation (RPA) to clear their invoicing backlogs and stay on top of incoming work. This will enable them to deal with PO and non-PO invoices more efficiently, leading to more on-time payments, fewer invoicing errors and supplier enquiries, and ultimately improved supplier relationships.

3. Improve master data accuracy

The timeliness and accuracy of financial accounting operations depend on the master data being correct. Errors or omissions in customer or supplier master records can delay invoicing or payments and lead to problems that are costly and time consuming to fix.

Automating this process enables the finance team to quickly create or update master data using SAP-enabled Excel workbooks or web forms.

4. Improve compliance across key business processes

The data entry process can be complicated if multiple people in an organisation need to supply or approve data, which can often be necessary to comply with strict business procedures. Automation can help here too. For example, it’s possible to build a capital expense request solution that routes a web form to the right approver based on the amount of the request and company code.

5. Spend less time preparing for audits

External and internal audits are a fact of life for any accounting team and preparing for them doesn’t have to be stressful or time-consuming.  An Excel-based solution can be created that can quickly extract any data from SAP that auditors may want to see—for example, invoices over £250,000. This type of automation not only reduces audit preparation time but can also reduce the time external auditors spend on site and consequently audit costs.

In addition to greater productivity and efficiency, organisations can expect greater data accuracy and improved compliance with internal and external procedures and regulations through automation.  And when staff no longer need to perform mundane, repetitive tasks and can instead focus on more strategic projects, morale improves, and more value is delivered to the business.

If you want to enjoy a healthy annual profit margin and long-term success in your industry, you must take control of your cashflow. Here are four financial management mistakes your business must avoid.

1. No Emergency Fund

An emergency fund could help to keep your business afloat during a difficult time in your industry or when you received an unexpected bill. To ensure your company is never faced with financial hardship, aim to save a minimum of three months’ worth of corporate expenses, which could ensure your company’s survival should an issue arise.

2. Unnecessary Business Expenses

Many business owners believe they need to make large expenses to separate their brand from their rivals. As a result, they might pay a significant sum for the latest technologies, office equipment, or staff salaries.

It is, however, a smarter approach to adopt a more frugal mindset. For example, invest in second-hand products, haggle with suppliers, and find an affordable lease for your office or building space.

Never spend a penny more than you need to, even when your company is generating a superb return on its investment. By running a lean business, you’ll have more money available to overcome a financial obstacle.

3. Avoiding Insurance

The right insurance policy could help your business to make a swift recovery following onsite damage or compensation claims. Yet, many companies make the mistake of not choosing the right coverage to suit their specific needs.

There a wide range of options to suit different companies’ needs, such as business insurance, cyber and data risk insurance, and employers’ liability insurance. It is, therefore, important to consider the potential risks your organisation might face and to find an insurance policy to match.

If you fail to invest in the right insurance policy, your business could be liable for a considerable amount of money, should a client make a claim against you. For example, if you regularly provide professional advice and services to clients, you should learn more about professional indemnity insurance as well as public liability insurance. Reputable providers such as Hiscox can instantly provide coverage of up to £10 million with both professional indemnity insurance and public liability insurance so that your company aren’t caught out, with flexible policies tailored to your needs.

4. Failing to Budget

Many businesses are guilty of failing to budget each month, but it could be critical to your company’s success and survival. It ultimately helps a business owner to maintain a tight control of their finances, as they will know exactly how much money they will need to spend each month and where it is going.

Without a budget in place, you could fail to account for your tax obligations, insurance premiums, office expenses and more. If you spend too much, you may then need to apply for a business loan or run up debt on your credit card if you urgently need cash to pay for a debt repayment or corporate expense.

1. Put the customer at the centre

One of the most valuable business lessons from a self-help book comes early in Richard Bandler and John La Valle's book on selling, Persuasion Engineering. It is quite simple to make the customer the centre of the process. It sounds obvious, and yet many startups are so focused on making money they miss this crucial step.

Dr Bandler describes how one company boss told him. "We're not interested in what the customer wants. We're interested in giving our salespeople selling skills so they can sell more of what we already have."

This naive and inflexible approach to sales is something you find in some companies that don't understand the transactional nature of... transactions. They think of sales as a series of techniques which flip people into purchasing mode rather than a more complex, human interaction. Down that road, Bandler warns, lies buyer's remorse, along with a poor reputation.

The big and obvious message is: "Think about what your customer wants, not what you want your customer to do."

2. Visualise your endpoint 

Change Your Life In Seven Days by Paul McKenna is essentially a crash course in Neuro-Linguistic Programming (NLP), an approach used in life-coaching, mentoring and therapy. Mental exercises give powerful lessons on taking charge of your life and are invaluable in enabling you to make your business goals happen.

By combining strong emotions of excitement and anticipation, alongside detailed steps to a desired outcome, you can set an expectation and a direction in your mind toward your goal.  Paul advises first imagining in detail your endpoint, then working backwards from there, visualising particular scenes and filling them with sensory detail. In this way, you give your conscious and unconscious mind a direction to follow, and realistic steps to take. For those not used to planning, it's a powerful tool.

It certainly seems to have worked for Paul, who has not been out of the bestseller list for more than a decade.

"Think about what your customer wants, not what you want your customer to do."

3. Get proactive

In 3 Seven Habits of Highly Effective People, Stephen Covey makes a clear distinction between proactive people (who tend to have more success) and reactive people.

Proactive people aren't dependent on the events and context around them, he writes, but on their own initiatives.

Reactive people respond to their environments and events and habitually behave in a similar way to the people around them, either because of a feeling of inadequacy or an unconscious desire to fit in. Covey says it is not simply what happens to us that holds us back, but whether we conform and consent to the events that happen to us. That is key to being reactive.

Covey observes that people spend their energies either thinking and operating in a Circle of Concern - which includes events and circumstances we can't influence (such as war, weather, economic shock and so on), or in a Circle of Influence, comprising events we can directly affect, (such as deals, relationships, our health, etc).

The proactive person puts their time into the Circle of Influence, meaning they are continually operating with matters they can affect. Thus, they are engaged rather than passive and take more responsibility for their lives, rather than avoiding problems and thinking about matters they cannot influence.

It's a useful tool to think about if you have a tendency to worry or waste time on matters you can't affect, and by changing it, you will become more effective in your life generally.

4. Always think opportunistically

A really useful lesson from Robert Kiyosaki's Rich Dad, Poor Dad is one of attitude to the world. Think in terms of opportunities, he advises.

Rather than saying things like "I can't afford this or that," he encourages his kids to think "how can I afford this?"

This type of question makes people search for empowering solutions.

He also advises not to buy liabilities, but assets. If you buy a house, it may rise in value over time and become an asset. But if you want it to be an asset now, then rent it out. "The rich buy assets. The poor only have expenses. The middle class buy liabilities they think are assets," writes Kiyosaki.

5. Start With The Why

Simon Sinek’s Start With The Why is a fascinating book. What it covers are the basic aspects of companies, the ascent and descent of major global brands. There are amazing stories of how companies lost their ethos and customers turned their backs on them. There are stories of how large companies reinvented themselves and how some became the sought-after employers that so many want to work for in the world—companies like Apple, Google, Microsoft, Facebook, etc.

Sinek’s book and message is compelling because it’s also easy and clear, and applies to everyone. He argues that if you want to inspire others, you don’t start with telling them what you are going to do or how you are going to do it. These do not enthuse and motivate.

As his book title says, you start with the ‘why’, set a question that needs to be answered, identify a need that needs to be met first of all. Leaders throughout history use the same technique, communicating their vision by working from the emotional engagement of ‘why’ before the practicalities of how and what.

By repeating your goals to yourself every day, and engaging your passion and desires, you are setting a powerful direction to follow.

6.   Avoid negativity

One of the big lessons in Dale Carnegie's classic book How to Win Friends and Influence People is to avoid negativity in interpersonal interactions.

"Any fool can criticise, condemn, and complain — and most fools do," he ways. "But it takes character and self-control to be understanding and forgiving."

It's fine for leaders to acknowledge when an employee or partner has not lived up to expectations, or to note the less optimal approach of a competitor, but it's vital to acknowledge what is working and to authentically praise other people's achievements.  In this way, you will keep the mood positive in your business. You'll eliminate resentment and get others to accept and share your advice, making them willing and happier to improve.

7. Don’t waste energy on the wrong client

Identifying and doing business with the right client is more important than all the techniques and tricks of persuasion you can use to sell is a key lesson that 80/20 Sales and Marketing: The Definitive Guide to Working Less and Making More by Perry Marshall teaches us. If you have the right fit with a client in terms of their ability to pay or their commitment to your company, then you aren't wasting energy tracking down clients who aren't right for you. Copywriting techniques, sales methods, negotiation tactics and all the rest of it are important, but sorting your clients so you are focused on those who are most profitable should come first. You can, after all, waste a lot of time trying to persuade those who don't want to be persuaded!

8. Understand reciprocity

When you give something away, most people want to give you something back. This is a core lesson in Yes! 60 Secrets from the science of persuasion by Robert Cialdini. In a face-to-face context that might be something as simple as buying lunch, or offering a freebie. On websites, give people information, tips and ideas for free. Many visitors will remember where they got useful information and will feel predisposed, if not obligated, to come to you for follow-up services - especially if your information has proven useful.

9. Have faith in what you are doing

In Think and Grow Rich, Napoleon Hill advises you to convince yourself you can achieve your goal. Faith, he advises, can be engendered through self-suggestion and self-affirmation, and by reinforcing your belief through constant positivity, reaffirmation and avoidance of negative inputs and emotions. Hill also advises writing your goals down. By repeating your goals to yourself every day, and engaging your passion and desires, you are setting a powerful direction to follow. This is the heart of faith.

10. You’re not an imposter  

Shed Simove shares an incredibly important lesson in Success or Your Money Back. He is the man who brought the TV show Big Brother to British screens. He's also a serial entrepreneur and creator of novelty gifts. His often left-field ideas include a remote control helicopter in the shape of the word "F*CK", which he sells with the slogan, "Now you really can give a flying F*ck!".

Shed gives advice on Impostor Syndrome - that is, that feeling that one day you're going to be ‘found out’.

Even after many successes, he still felt like an impostor - not an expert. Only when he realised that everyone is learning all the time and not working from a pre-ordained script did he accept that, actually, all you need do is appear as if you know what you're doing and be confident with it. That, after all, is what everyone else is doing!

 About the Author: 

Bernardo Moya is a leading personal development coach, Founder of The Best You and author of The Question: Find Your True Purpose, which is published by Wiley and is available now from Amazon.co.uk

Following on from last year’s top 10 must read finance books, Tamir Davies, content writer and researcher for Savoy Stewart, advises Finance Monthly on the top 10 business books to look out for, with her own blurb on each and some advice on which reader they are best suited to.

The first month of 2018 is done, and as we continue into the next few months, many Brits will have set aspiring goals and achievements to mark off their bucket lists for the remainder of the year. Whether it be a personal or professional accomplishment, the new year marks a ‘new you’, with a never-ending list of books to read, websites to browse, knowledge to be attained and situations to be resolved. Whilst it’s incredibly easy in this modern world to turn our eye to the internet for a quick fix, we have become incredibly complacent to picking up a book. There is nothing quite like opening freshly printed books, with that lingering sweet smell resembling notes of vanilla flowers and almonds. And even the manufactured smell of new books can’t be mistaken for being better than the world wide web.

If you’re looking to build your collection and to learn something new in your professional field, albeit financial and or business related, here are the 10 most inspiring must-read business books.

1. Cryptocurrency: Advanced Strategies and Techniques to Learn and Understand the World of Cryptocurrency by James C. Anderson

Cryptocurrencies have most certainly made their financial mark on business, proving to be worthy investments for the future of currency. Considering how many Brits have become self-made millionaires after holding onto the currency, it’s no surprise that those investing in cryptocurrencies are looking to know more than just the basics. Perhaps you’re asking yourself more in-depth questions such as ‘why does it have any value?’. Cryptocurrency: Advanced strategies and techniques to learn and understand the world of Cryptocurrency will answer all your questions of interest, demonstrating how this new inventive currency will fit into the modern economy. The book assesses its effect on the economy, how it will grow and shape finance, and finally whether it is sustainable.

Read this book if: You’re bored of conventional strategies to make money and looking to help change the world that little bit more.

2. When to Jump: If the Job You Have Isn't the Life You Want by Mike Lewis

Mike Lewis, the founder of When to Jump, presents his book When to Jump: If the Job You Have Isn’t the Life You Want, for anyone who feels they have reached a career crossroad. Do you follow your dreams, or do you stick it out because you need the money, the security and longevity of a job that is in front of you? Mike Lewis goes through in detail the ‘Jump Curve’, what he describes are four steps to wholeheartedly pursue the career you have always dreamt about. The book is a beautiful collection of curated stories from like-minded people who share how they took a leap into the unknown. Mike Lewis recently won the Goldman Sachs accolade for ‘100 Most Intriguing Entrepreneurs’.

Read this book if: You’re sat at your office desk, reading this post and thinking ‘what am I doing here?’.

3. Crushing It! How Great Entrepreneurs Build Their Business and Influence-and How You Can, Too by Gary Vaynerchuk

Crushing It, explores how entrepreneurs and influencers who left their career path which had been somewhat mapped out for them, and went on to build thriving and highly successful businesses. The four-time New York Times bestselling author Gary Vaynerchuk hopes in his new book to inspire similar business men and women with dreams of doing what they love, by offering a unique perspective and lessons to be taken which would help with taking their career to a new level. Gary shares stories of those who have grown wealthier, by adopting principles discussed in his book. Gary dissects every social media platform to help anyone of any career field or title how to maximise and optimise their brand presence.

Read this if: You’re a lively individual, looking for something new to dabble in. Perhaps you’re not doing it for financial gains.

4. The Four: The Hidden DNA of Amazon, Apple, Facebook and Google by Scott Galloway

We all log into Facebook, purchase from Amazon, use software from Apple and search for what our heart desires from Google. But have you ever considered their ultimate power as giants of the 21^st century? Scott Galloway, in his new book The Four, asks fundamental questions, such as ‘how did the Four infiltrate our lives so completely that they’re almost impossible to avoid (or boycott). Scott Galloway is one of the world’s most celebrated and prolific business professors, and has deconstructed the methods and strategies used by these ‘Four’ giants, and shows you how you can apply the same measures and principles of their tenacity to your own business ventures.

Read this if: You love or loathe these giants of the world, but wish to replicate their deepest, darkest methods of success.

5. Business for Bohemians: Live Well, Make Money by Tom Hodgkinson

Tom Hogkinson, a renowned journalist has combined his wisdom for cash flow forecasts, tax returns, and anything business related, in his book Business for Bohemians, with practical advice and engaging anecdotes to create a refreshing outlook on how to create a greater level of freedom in our working careers. No matter your business dreams, this book will equip you with the skills to turn your talent into a profitable and enjoyable business. The book will navigate how to become a wizard of excel, a social media maven and the art of negotiating with clients, companies and friends, when business is just business.

Read this if: You fear losing your mogul personality when building your business.

Click to reveal the NEXT 5 must read business books of 2018!

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The top 15 books to read for business, investment, and life, with descriptions and tips on when to read.

Below Finance Monthly hears from Rob Moore, Author of the new global best-seller ‘Money - know more, make more, give more’ and Life Leverage Host of the Disruptive Entrepreneur podcast, on his top 5 books about wealth accumulation, management and money.

“I’m an avid reader, especially around money and finances. Here are 5 great books I recommend out of more than 1,000 non-fiction ‘how-to’ books I’ve enjoyed in recent years:”

1. The Compound Effect - Darren Hardy  

2. 80/20 Principle - Richard Koch  

3. Naked Finance - David Meckin 

4. The Personal MBA - Josh Kaufman

5. The Intelligent Investor – Benjamin Graham

Another financial year has passed, and as you look back, will you seek to do things differently next time around? Below, Dean Snappey, the President and Co-Founder of DocsCorp discusses with Finance Monthly 5 simple accounting tools that’ll make your life that much easier to navigate at this time of year.

Over the past 12 months we have seen considerable adjustments to taxation, such as changes to dividend taxation and the recent increased tax for landlords. Aim to prevent the end of year mess and avoid the kind of errors that carry implications to your and your company’s reputation.

There are several accounting tools and software solutions available at your fingertips to ease the process, stay organised and plan ahead. Make the most of these accounting tools and follow these five easy steps to make pre-emptive tax planning simple.

1. Bundle Documents. Best practice is to ensure any invoices, statements and paperwork are scanned and saved as a PDF document as paper filing systems and loose documents are at risk of being lost or damaged. Document bundling software gives you the ability to collate PDF content and bind all relevant documents such as tax returns, invoices and financial accounts into a single file for each client. By bundling all important documentation, it will make the process of finalising paperwork much easier as all documentation required will be stored together. Finalised documents can then be sent as a single secure file in one hit rather than multiple attachments, saving you time with each client and avoiding the risk of lost or separated files.
2. Redaction. As part of the process of preparing documents with such complex data, it is essential to redact classified or sensitive information. To redact is to remove, therefore ‘redacted’ is often used to describe documents from which sensitive information has been expunged. By using a redaction tool it is easy to search whole documents to redact multiple instances of a word or string of words in a way that is quick, easy and fail-proof. Redact personal information or bank account details in documents as part of an audit.
3. Make Scanned Documents Searchable. When you scan invoices, receipts and finalised paperwork onto your desktop, the scanned documents are image documents that do not have the text layer that’s needed to make them searchable. You can make the documents text-searchable with an Optical Character Recognition (OCR) tool. This software converts scanned, printed or handwritten files into its machine readable text format.  You can then search whole documents for a word, phrases or a set of numbers which makes finding information or documents for tax audits a breeze.
4. Remove Metadata. Metadata may appear hidden, however, every time you annotate, edit or alter a document, your decision is stored invisibly within the very document you’re working on. Metadata removal software removes metadata from files – eliminating any risk of unintentional information leakage. To put it simply, the metadata cleaner will ensure you only send the part of the document or spreadsheet you intend to – exactly what would be printed out on a piece of paper. Remove hidden cells and other sensitive metadata before uploading or attaching files intended to be sent to clients.
5. Compare Documents for Change. Working with numerous clients means navigating through each client’s financial accounts and complex paperwork. Throughout the year many changes can occur within clients’ businesses, often meaning multiple changes to important documentation. Analysing large volumes of documentation, in which precision is required, can be very time consuming. There is a simpler way to undertake this task, which is by using a Comparison software package. This enables you to compare and analyse the differences between two documents with incredible accuracy and reliability. The software is able to show you the smallest change in documents, spreadsheets, PDFs without needing to convert them first. Save time and never miss an important change again.

America's economy can return to the days of 3% and higher annual growth rates if Washington embraces pro-growth economic policies, concludes the latest installment of Pacific Research Institute's Beyond the New Normal series released last week.

"Nothing impacts America's economy more than government economic policy," said Dr. Wayne Winegarden, PRI Senior Fellow in Business and Economics, and co-author of Beyond the New Normal. "Reviewing 60 years of economic policies, we found that when government embraces policies that incentivize growth, our economy grows. President Trump and Congress can bring back the days of 3 and 4% annual growth by enacting a pro-growth agenda."

In Part 4 of Beyond the New Normal, Wayne Winegarden and co-author Niles Chura analyze 4 key economic turning points where changes in the economic policy mix impacted the health of the US economy (covering the periods 1958-1970, 1970-1982, 1982-2001, and 2001-2015). Following a historical review of the economic policy mix during each of these periods, Winegarden and Chura found that:

• Between 1958 and 2015, US economic policy alternated between periods of expanding and declining government influence in the economy.

• Changes in the government's economic policy mix – including fiscal and monetary policy – have impacted the health of the US economy during these periods, alternating between times of weaker structural economic growth and robust structural economic growth.

• The Trump Administration would be wise to take a long-term economic view, embracing a policy mix that adds long-term value to the economy. They should avoid the temptation to use economic policy to manage short-term economic conditions, stimulate growth during recessions, or reduce growth during expansions.

• Policies that create growth-enhancing incentives, production efficiency, and prices that accurately reflect supply and demand encourage strong economic growth. These polices were in place during the 1960s, and the 1980s through the 1990s.

• In contrast, policies that distort prices, decrease the incentive to take risks, and increase government spending discourage growth. These policies have been in place since 2001, and were also prevalent during the 1970s.

Beyond the New Normal is a multi-part study by Dr. Wayne Winegarden and Niles Chura, which makes the case that future US economic growth can meet –or exceed – past growth trends if the right economic policies are adopted.

Dr. Wayne Winegarden is a Senior Fellow in Business and Economics at Pacific Research Institute. He is also the Principal of Capitol Economic Advisors and a Managing Editor for EconoSTATS. Niles Chura is the founder of Ouray Capital.

(Source: Pacific Research Institute)

April is the official National Financial Literacy Month; as it comes to a close, Finance Monthly has heard from Tamir Davies, content writer and researcher for Savoy Stewart, on the top 10 finance based books to look out for this year, a little about each and which reader they are best suited to.

Tackling the subject of ‘finance’, no matter your aim or venture, can be a difficult feat. It is a tricky topic to get your head around, even if you consider yourself an expert, and as the saying goes ‘knowledge is power’. One traditional way of acquiring this knowledge is by reading. You may be a solicitor, accountant, commercial property investor or CFO, but the ultimate aim is the same – to better yourself in the financial world and to make a return on investment.

1. High Returns from Low Risk: A remarkable Stock Market Paradox by Pim Van Vliet

Traditionally, investors used to view low-risk stocks as safe but unprofitable. And of course profitability is the most important aspect of financial investment. However, this is now a flawed theory. This book, explores how low-risk stocks are actually proving to be far more beneficial, and can outperform high-risk stocks. If you used to believe, the higher the risk, the greater the reward – this old axiom is holding you back.

Who’s it for: If you have money and want to know where to put it, with maximum return. Suitable for investors, those in private equity and property investment.

2. The Alchemy of Finance by George Soros

This book by George Soros, reveals his secrets as to how he became one of the world’s most successful money managers of all time. Soros has been nicknamed by Business Week as the ‘man who moves markets’. The book is a fantastic read for those looking to understand the theoretical and practical account of the financial market. The book illustrates real-world advice and valuable lessons that can be learnt in business.

Who’s it for: Savvy business owners looking for financial inspiration to reach the highest heights.

3. How to Save Property Tax 2016/17 by Carl Bayley

If you are a property investor and or landlord, then understanding how to save property tax for the new tax year is a key aspect of investment. This book really is a tax bible and this latest edition has been updated with all the major tax changes which were announced in 2015. It has a detailed analysis of the new rules which are to restrict tax relief on residential landlords’ interest costs, as well as investigating the new 3% stamp duty land tax surcharge. The book explores ways investors and landlords can save on tax, and therefore pay less income tax, capital gains tax and stamp duty.

Who’s it for: All property landlords and investors, second home owners, those looking to refurbish or develop a property, and solicitors, accountants and professional financial advisors.

4. Buy Low Rent High: How anyone can be financially free in the next 12 months by investing in property by Samuel Leeds

They say an investment in property will guarantee you a return. But to invest in property, many would assume you need a bundle of cash. In theory yes – but this book ‘Buy low rent high’, looks into challenging the traditional approach to investing in property, and to start with no money at all. Samuel Leeds, the author of the book has earnt himself a reputation for becoming one of the most inspiring and engaging investors in the UK, due to his tactic.

Who’s it for: A great read for amateur investors and landlords.

5. The Virgin Banker by Jayne-Anne Ghadia

Women CEO’s, have fast become one of the most popular topics in business. ‘The Virgin Banker’, by Jayne-Anne Gadhia, who is the CEO of Virgin Money, exposes the events and circumstances that shaped her career as we know it today. In her career, Jayne-Anne Ghadia has become one of the most powerful women in banking and her anecdotes include beating bullies as a child and overcoming racism having had a mixed race marriage. Her career triumphs include, working at RBS and finally putting Virgin Money on the road to success by becoming a listed business. Her book explores issues regarding women in the workplace, specifically banking, and drawing on personal experiences which has helped her secure her current position in finance.

Who’s it for: Women of all career fields – this is not a conventional biography, so if you’re a woman in business, looking to succeed, this could be your driving force.

6. How to Talk Finance: Getting to grips with the numbers in business by Ted Wainman

Getting into business is a tricky affair, especially if you’re unsure where or how to start. Ted Wainman’s book ‘How to talk finance: getting to grips with the numbers in business’, is a great way of beginning your journey into business, dissecting how a business is run, funded, structurally designed to trade and the costs involved. The book is user-friendly and will help you understand the numbers behind a business, as well as budgeting and developing a commercial awareness for the business you are launching.

Who’s it for: Business men and women looking to launch their own business. No matter the business field or type.

7. The Long and the Short of It: A guide to finance and investment for normally intelligent people who aren't in the industry by John Kay

John Kay, is one of the world’s leading economists and a hugely triumphant investor. His academic credentials and an unparalleled level of practical experience, places him as one of the world’s inspiring investors. If you’re after a book about finance and investment, ‘The Long and the Short of it: A guide to finance and investment for normally intelligent people who aren’t in the industry’ will speak wonders for you. The book assesses the complexities of the financial world, emphasising how the modern system is threatened by the stability of the world economy. The book has been designed to explain how to put your finances into your own hands, as these are the only ones to trust.

Who’s it for: Cautious investors and those in professional finance services who need some guidance to keep their money safe.

8.       The Investors’ Guide to the United Kingdom 2017 by Jonathan Reuvid

This edition by Mazars, exposes useful information for investors in the UK, looking to secure property in 2017. This book is an extensive round-up of the property industry since Brexit, indicating the climate for investment in Britain. The book also goes into great detail regarding the laws, business regulations and practices that are affecting foreign investors looking to put their money into commercial property. This edition also includes topics such as commercial law, intellectual property, business taxation, financial reporting and key industry sector opportunities.

Who’s it for: Any foreign business of any size. If your business is multinational or an SME, this guide will help you with technical aspects of investment.

9. The Little Book of Commonsense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C Bogle

Investment is known as the most effective way of building wealth quickly and sustaining it. But the most difficult part is doing it correctly. John C Bogle, the founder of the Vanguard Group and the inventor of the world’s first index fund, has created this book that details the simplest ways of investing – with low-cost index funds. The book is filled with in-depth advice, knowledge and practical sentiments to show you how to incorporate this investment strategy, which Bogle deems the most effective of its kind into your portfolio.

Who’s it for: Commercial and independent investors looking to expand their portfolio in the most effective way.

10. Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Tim Ferriss

We all dream of becoming a self-made millionaire or even better – a billionaire. And ‘Tools of Titans’ by Tim Ferriss, looks at the daily routines and ritual habits of celebrities, hedge fund managers, professional athletes and others to understand how they became the wealthiest and most successful in their field. Ferriss interviewed more than 200 world-class performers, such as Jamie Foxx and Arnold Schwarzenegger, splitting his book into three chapters – healthy, wealthy and wise. Ferris’s book is a quest to unveil snippets of wisdom from these high achievers and to pass their tactics of success onto anyone interested.

Who’s it for: This a charismatic read, suitable for anyone who loves real-life advice and an interpretation of success. If you need a career push, this one’s a keeper.