CA Avinash Shukla

Dear Readers, I discussed about Right brain dominant person in last blog, I will write about peculiar characteristics of a Left-Brain Dominant persons and their strengths and weakness in relation to Financial Management. Left brain is responsible for logic, number crunching, data, language, observation as well as intra personal intelligence. Those with dominant left brain need a lot of data before deciding on anything, they have ability to understand & analyze large data, find patterns in numbers, they are good at calculations and establishing logical reasoning in almost anything. Such persons may lack intuition and may not be able to decide unless the numbers are favorable. Such people are too objective in decision making and tend to miss the subjective or emotional component of the same. It is highly recommended for left brain dominant people to be in Finance, engineering or data analytics. Can we conclude that such people are really good at Financial management? Apparently...

  Welcome back after the weekend. As we all are aware that, we have 2 sides of the brain viz, the right and the left. Each side is further divided in 5 lobes each forming total 10 distinguishable lobes. But today’s topic is limited to Right brain in general. Each side of the brain is functional and necessary for certain specific tasks/activities. Every normal person has both the sides functional but the capacity of each side may be different thereby creating differences in behavior  and decision making. Let’s look into typical characteristics of a right brain dominant person. Right brain in general is responsible for creativity, art, abstract ideas, emotions, empathy, music, aesthetics etc. What we can make out is, abstract ideas or creativity is never bound by discipline, it cannot fit in to calculations and it cannot be measured. Thus, such people generally cannot fall in discipline, they prefer to be free and work only when they feel like. They hate the 9 to 5 culture. ...

  On reading the title you must be surprised, why am I writing about such a basic thing, but don’t worry, I will present both these terms in a different perspective. Traditionally “Asset” means property, land, building, furniture, vehicles and it also includes intangible assets like goodwill, patents etc. i.e anything on which the person has “Rights” and can execute his/her will for using, destroying or selling the same. You will find all such assets on the asset side of the balance sheet. Liabilities are the financial obligations that are to be honored  at pre-decided time or sometime. If we look at the assets and liabilities with different lenses, we will be surprised to find how many assets we hold, actually are liabilities. Liabilities are invariably the same and don’t need explanation, one must be aware of the compounding effect on our liabilities as well. Robert Kiyosaki in his book “Rich Dad Poor Dad” has given a fantastic definition of assets and liabilities. H...

W e often use the word “Contingencies” casually for defining emergencies and unexpected events while planning. Do we really provide for “Contingencies” of our life? I am not referring to having insurance, yes, it’s necessary to have insurance which will take care of financial needs of family in case of bread winner’s death or in case of medical expenses or any other mishaps like damage to car, house etc. I am talking about contingencies which do not fall in any of the insurable category. We all have experienced such a contingency recently when total lockdown of 3 weeks was announced by our PM. Many would have had the first though about how to run the show, how to meet daily household expenses and so on. Business owners were worried about how to meet the obligations of salaries and other payments. On the other hand, there also was a class of people who were not worried and enjoyed the lockdown period spending quality time with family. What was the defining distinction? It was obvi...

Some people are naturally smart in managing finances and many others are not, though them may be really good in many other things. What makes a person really good at managing finances? This article will focus on looking at the “Financial Acumen” from “Multiple Intelligence” perspective. It is imperative to write about what is Multiple Intelligence (MI) for the readers to appreciate the same. Howard Gardner in his book titled “Frames of Mind” later updated with title “Intelligences Reframed” has put forth a theory of Multiple Intelligence, thereby stating that every human being has eight types of intelligences. 4 on left brain and 4 on right brain (to be precise there are 10 intelligences, 5 on each side, but 2 are clubbed, I will tell about this in detail some other time). Left Brain Right Brain Intrapersonal Intelligence - Rational Thinking, Executive Planning, Coordinating, Controlling, Self-Achievement Interpersonal Intelligen...