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Frequently Asked Questions

Feel free to submit your own questions to – I’ll be happy to answer!

If you want I can even use your question as a topic for a blog post!

Sean, what is a good stock to buy?

I get this question almost every week, and every week I give the exact same answer. A stock can be good for some people, bad for others, and in-between for other people — it really all depends on how much risk you are willing to take, and what you are looking for in an investment. There is risk in every investment decision, and it is important to always do your due diligence as well as consulting a financial services professional.

Sean, what’s a P&L?

A P&L is a profit and loss statement that shows the inflows and outflows for a specific period in time. Businesses spend a lot of time, money, and energy monitoring their P&L statements, and I believe that we as individuals should do the same. Getting your personal P&L started is not difficult at all: start with what you know you made (inflows) during the period, and start subtracting out what you have spent (outflows). Once you are done you have your monthly excess/deficit. If you want the P&L template I have created just send an email to

Sean, you’re an accountant – why are you writing so much?

Well, I know that I have been very fortunate to have obtained the education and technical training that I have received, and I have not done it alone. From the educators that taught me, friends and family who encourage me, to the people that interact with me on a daily basis, there are a ton of people that have helped me! I feel that this is a way that I can give back to the people and communities that have given me so much.

I want to start budgeting and planning my finances better, but how do I even start?

It’s a lot easier than most people think. Start with whatever you can – if that means simply organizing your bills and setting up a time each week to review your expenses, that is a great start! Organization and planning are two skills that are invaluable when it comes to budgeting and financial planning. The first step in any project, and this is definitely a project worth doing, is taking that first step.

How do I get started with stocks? There are so many options!

I get a lot of questions about stocks in general, and about specific stocks. Should people invest in stocks? What stocks should they buy? How many shares should they buy? Where should they buy them? I always give the same answers – investing in stocks carries inherent risk, i.e. there is always a risk of losing your money, and that you need to work with a financial services professional that understands both you and your specific investing goals.

There are a lot of great sources of information out there.

Happy Reading!

  1. Carlos permalink

    I hear this term being thrown around at the office place.. What is an “ACCRUAL” ??????

  2. Hi Carlos,

    An accrual is, basically, a place holder that is used to record costs that have not hit the books yet.

    Example – a contractor comes to work on a piece of equipment on a factory on January 18th, and is finished by the 25th. The company receives the invoice from the contractor on the 28th, but does not plan on paying it until February.

    So, the company has received the benefit of the contractors work, but has not paid for it yet. To make sure that the costs have been recorded properly an entry known as an “accrual” is booked.

    Hope that helps!

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