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What is the curriculum of Kundan's course on the stock market?
I am happy to announce that a total of 60,000+ learners have registered for this course in the last ten days. And, 20% of the learners are Quora readers. You can also enrol and get a discount of 5% by using the coupon code QUORA5Here is the course curriculum of my course “A complete course on the Indian stock market” - google my name Kundan Kishore and you will get my website.Module 1:-It covers 12 myths and truths of the Indian stock market which people have asked me in different webinars and seminars on different occasions. The first 12 classes are based on these topics.Module 2:- Maths, Economics and excel sheet for the stock marketClass 13:- Basics of economicsClass 14:- Indian economy analysis.Class 15:- Porter's five forcesClass 16:- Know different organized sectors of the Indian economy.Class 17:- Learn to map economy need with sector performance.Class 18:- Learn to map company alignment with sector growth.Class 19:- Essential mathematics for the stock marketClass 20:- Basics of Microsoft Excel and Important formulaeModule 3:- Fundamental analysisClass 21:- Introduction of Fundamental analysis - HERE STARTS MODULE 3Class 22:- Qualitative aspect of fundamental analysis Part 1Class 23:- Qualitative aspect of fundamental study Part 2Class 23:- Qualitative aspect of fundamental study Part 2Class 24:- Quantitative part of the fundamental study introductionClass 25:- Financial statement introductionClass 26:- Understanding the balance sheet of the companyClass 27:- Understanding Profit and Loss statementClass 28:- Understanding CASH flow statement of the companyClass 29:- Financial ratio analysis part 1Class 30:- Financial ratio analysis part 2Class 31:- Financial ratio analysis part 3Class 32:- Understanding relative valuation and intrinsic valuation difference.Class 33:- DCF analysis for valuationClass 34:- Equity research practiceModule 4:- Equity Portfolio management.Class 35:- Introduction to Equity Portfolio managementClass 36:- Diversification and rebalancing in portfolio managementClass 37:- Active and passive portfolio managementModule 5:- Risk management, Futures & options.Class 38:- Introduction to risk managementClass 39:- Derivative Market overviewClass 40:- Understanding Future contractsClass 41:- Understanding Future pricing, premium, and discountsClass 42:- Leverage, margin, M2M, and payoffsClass 43:- Risk management scenarios with Future contractsClass 44:- Understanding Call optionsClass 45:- Understanding Put OptionsClass 46:- Understanding option pricingClass 47:- Risk management solutions using optionsModule 6:- Option trading strategies for tradersClass 48:- Covered Call option strategyClass 49:- Married PutClass 50:- Bull Call SpreadClass 51:- Bear Put SpreadClass 52:- Protective CollarClass 53:- The Long StraddleClass 54:- The Long StrangleClass 55:- Long call butterfly SpreadClass 56:- Iron CondorClass 57:- Iron ButterflyClass 58:- Long and short StrangleClass 59:- PCR and max pain ratioModule 7: Technical analysisClass 60:- Do I need to learn technical analysis?Class 61:- Core Concept of Technical AnalysisClass 62:- Chart Patterns (Rectangles)Class 63:- Chart Patterns ( Flags )Class 64:- Chart Patterns ( Triangles )Class 65: Chart Patterns (Head)Class 66:- Chart Patterns (Cup with Handles)Class 67:- Why not go for technical analysis as an investor?Class 68:- Challenges of technical analysis for traders?Module 8:- Unusual scenario and other topics of the Stock marketClass 69:- Investing Vs Trading Vs GamblingClass 70:- Why does sometimes stock price goes down on good news and up on bad news?Class 71:- What is emotional/Behavioural finance?Class 72:- PO, Stock Split, Buyback, MERGER & AQUISITIONClass 73:- Taxes and other Fees impact in India for Stock InvestingClass 74:- Tax saving/harvesting techniquesModule 9:- Famous case studies on the stock market.Class 75:- Tulip Mania of 1637Class 76:- The great depression of 1929Class 77:- Harshad Mehta scamClass 78:- Ketan Parekh ScamClass 79:- The banking crisis of 2008Class 80:- Case of Kingfisher airlinesClass 81:- Satyam computers scamClass 82:- Fall of EnronClass 83:- Rise and Fall of UnitechClass 84:- Rise and Fall of JP AssociateClass 85:- Ten companies which gave the best return in IndiaClass 86:- Ten companies which collectively eroded the maximum wealth of Indian InvestorsClass 87:- Revival of Eicher MotorsModule 10:- Career / Consulting / Business sectionClass 88:- Different job roles and skill set requirement in Stock MarketClass 89:- Exposure on advisory and consulting opportunities in the stock market.Class 90:- How to start your own business in the Stock market?Certification for students post-course completion and report writing on their learning.Happy learning to all of you. You have any query please comment. I’ll answer it.Well, here is one clarification also. In order to promote my course, I have asked the question myself. I got many queries from my previous answer on Quora where they wanted to know more about the course.Link for my course:- A complete course on the Indian stock marketThe course fee is 990/-The discount coupon is QUORA05 for 5% discount.Also, please read about the story behind the course here:-https://www.quora.com/What-do-you-know-about-the-complete-course-on-the-Indian-stock-market/answer/Kundan-Kishore-47Learn more about me and my work by visiting my profile here.Kundan KishoreEdit 1:- 643 learners now on the platform. Going to conduct the first Q&A sessions for all learners through four separate webinars.Edit 2:- 900+ learners now on the platform.Edit 3:- After 40 days of launch 1400+ learners enrolled for this course.Edit 4:- After 60 days of launch 2400+ learners enrolled for this course.Edit 5: - In the last 4 months, 20000+ learners enrolled for this course.Edit 6:- In the last 1 year, 60,000+ learners enrolled for this course.
What's your opinion of the State Bank of India writing off the loans of 63 willful defaulters and also Rs 1201 crore of Vijay Mallya just after demonetization?
Some answers already clarifying the difference between write off and waiver.However, I will make an attempt to address this issue fundamentally so that it is accessible to the most of the audience.Only stating and explaining that write off is not waiver is not enough for this question. All the newspapers will also reiterate the same.Those who do not have an accounting background will face difficulty in understanding about this issue, so I’ll discuss about all the concepts related to the write off. What is done before writing off an advance.Body Corporate and it’s FeaturesFinancial StatementsNon-performing AssetsProvisioning of NPAsThen, I will handle this issue as asked in the question separately in the light of the various concepts discussed.It is quite clearly seen from the fact that people are basing their conclusions about this on the incorrect premise that it is related to demonetization. Also, the opposition parties are making their attempts to squeeze every bit of opportunity to delude and confuse others with regard to this issue.So, a clarification is necessary here.The general audience is not aware of the basic accounting aspects related to provisioning of Non-performing Assets (NPA) and NPAs itself which is related to the Advances of the Bank.Company, Features and other aspectsThe Banking Company is a special type of entity which is a Body Corporate which means it has it’s separate existence. Just like we exist as humans and we carry out trade with each other, enter into contracts and sue each other, the Body Corporate is also considered as a Person(not living understandably) which has the same powers as we have of entering into contracts and suing others in it’s OWN name. Once the Company is registered and incorporated, it has it’s separate existence.This is something very important which needs to be understood regarding Body Corporate.The Proprietorship business does not have any legal identity in the eyes of law so even if you are operating a Snacks corner as a Sole Prop, the person responsible for the acts of the Business will be the person owning the business, unlike the Company is responsible for the acts performed by the Management.However, as it is very evident that Body Corporate cannot carry out the business by itself, it is run by a group of people.When the Corporation comes into picture, we recognize the owners as the Shareholders of the Company. These Shareholders have entrusted their responsibility of managing the Company with the Board which is appointed at every General Meeting.Financial StatementsSo, in order to inform the Shareholders about the performance of the Company, the Management institutes a system for preparation of Financial Statements which contains Balance Sheet, Profit and Loss A/C, Cash Flow Statement,etc.So, the shareholders are able to gauge whether their Investment is used productively by the Company via the details stated in Financial Statements. The Shareholders are not directly involved in managing the Company so the Annual Report is presented to the Shareholders each year.Also, Financial Statements are prepared based on Double-entry and Accrual systemSo, we come to know how important are Financial Statements and their role in Financial Reporting and informing the Shareholders.Banking Company - Accounting aspectsSo, what is the peculiarity when it comes to Banking business - it has majority of it’s assets in the form of ‘Advances’ which represents the Loans given for various purposes apart from Assets like Investments and Fixed Assets,etc.The Banking Company is governed by separate statute Banking Regulation act, 1949 which lists it’s separate Format of Financial Statements(different than required for other Companies to which Companies act, 2013 applies)So, it has separate presentation and disclosure of it’s Assets and Liabilities.Non-Performing AssetsSo, here the Advances (as listed above) are referred to as Assets as they belong to the Assets category in the Balance Sheet.Whenever, a certain time-limit(90 days) elapses after a default being made, then the Bank treats the Advance as Non-Performing which essentially means that the loan has stopped generating income for the Bank.So, what will the Bank do by treating an Advance as a Non-performing Asset?Inform it’s shareholders regarding those Non-performing Assets, so that they get a fair idea along with it’s other stakeholders. It is also an indicator of Bank performance.It needs to create a Provision on these assets depending on their period of continuing default, whether the asset is secured or unsecured, whether there’s any guarantee by ECGC/DICGC.Remember, the Advance is still recognised by the Bank, though it is Non-performing.NPA ProvisioningThe Banks need to create a Provision on it’s NPAs depending on the classification of the NPA. Non Performing Assets (NPA).The asset has already crossed the default of 90 days and has been declared as non-performing. So, the Bank will create a provision for the NPA.So, Why do we require to provide for such Advances?To provide for anticipated and known lossesTo present correct Profits and Financial Statements.So, a provision is created on NPAs with the understanding that such debtors may become irrecoverable in the future, so it is better to reduce the profit in the current year with regard to such anticipated loss in the future. This is based on the fact that it is better to show reduced profits to shareholders by providing for the losses in the future in the current year itself.It is done to inform shareholders beforehand of the losses that may arise in the future so that they don’t base their decisions on overstated or excessive profits without considering the possible losses.It is just like we expend less when we feel that there might be a big expense or a loss in the future.The provision, in fact, reduces the figure of profit and not the figure of divisible profit.So, RBI orders the Commercial Banks to create provisions on it’s NPAs for the above purposes.Simply statedBank does not wait for the borrower to default, as soon as it sees the conditions of default(meaning the borrower is exceeding his default period) , it starts creating provision, meaning reducing a certain percentage of it’s loan from the profits. It recognises the loss now because it feels that the borrower will default in the future.Refer the link given under this section, to know how the Banks create provisions on NPAs as the period of default increases. The exact percentages are mentioned therein.SBI writing off Loans of Willful defaultersTo write off. When we write off, we remove/write off the Advances as shown in the Balance Sheet. This is done by the Bank to demonstrate to it’s shareholders that this debtor/borrower has become worthless and our chances of recovering anything from him are slim. This is an accounting aspect which is done by writing off the debtors/advances.And, remember the provision we created earlier because this advance was NPA as ordered by RBI, was for the same reasons.The Bank classifies it’s Advances regularly to disclose the current and precise situation of the loans.So, writing off is done by the Banks in order to state a true and fair view, to reconcile it’s actual state of affairs with that shown in the books. Also, it adds to incremental tax liability on the Bank’s part if it doesn’t write them off.When you treat an asset as NPA, you create a provision from the profits, this reduces the profits from the current year. As profits reduce, the tax liability also reduces.When will I write off an asset in ordinary circumstances?When the chances of recovery are slim and negligible, that is in cases like insolvency of the debtor due to various circumstances.The Issue at handThus, in this case, SBI has written off Advances with Vijay Mallya’s Kingfisher topping the list because of the specific nature of his case. The fact that he was declared as absconding and all his property is seized are also notable circumstances.What I understand that it is not just an accounting whim which has no implications. It speaks a lot about the situation of the loans. Why is the bank in such a position that it has to write off this loan? Because the debt is not being repaid.This is an attempt by SBI to clean up the Balance Sheet and it has done that by moving the advances to ‘Advance Under Collection Account’ which is a better classification for the loans written off to the tune of 7,016 crore of the 63 willful defaulters including Mallya.The Writing off activity by the Banks does not mean that the bank will pardon the defaulters. It will still try to collect the debts from them. But, if they did not write off those loans from the books, it is gives poor indications to the users of financial statements because those debts are not good and need to be separated from other good loans. So, it is certainly not a ‘waiver’.The Banks can certainly institute court proceedings or sell the debts to third party.For example, there are $10000 worth of Loans and $2000 are worthless, Bank will create provision and write off the amount of the Loans of $2000 and reduce their value in the Balance Sheet, so the fact of such toxic loans is clearly communicated and the profit is correctly reduced, which thereby reduces the tax liability.Hence, there’s no room for having opinions here as such. It is an accounting treatment which is usual and regular and all the entities follow the general Accounting aspects as applicable to it.SBI Chairperson Arrundhati Bhattacharya has also made that clear, Arun Jaitley has made it clear that the loan recovery will be pursued. Raghuram Rajan had also pushed for cleaning up the NPA mess.ReferencesSBI writes off Rs 7,016 crore loans owed by wilful defaulters, including Vijay Mallya’s defunct airlinesSBI Rs 7,000 cr loan 'write off' not a loan waiver: JaitleyCalm Down, Everyone! Here's Why Vijay Mallya's Debt Write-Off Is Not A Waiver
How do you start a company? What is the minimal set of administrative hoops that one needs to (and/or should) go through to turn a killer product idea into a real corporate entity?
Every step ???Okay -Here is every small step in the chronological orderHope it helps -The Sure Steps -1. Figure out what change you want to make in the world. Nothing else matters and you should not even be beginning a company until you know the change you are passionate about making, personally and professionally.2. Begin researching the industry and your competitors.3. Determine how to create your product.4. Talk to potential customers and users for feedback.5. Come up with a name for your company and product.6. Build your pitch deck. This is particularly important if you need to raise funding.7. Create pro forma financial projections. These should show the next 3-5 years, and include a pro forma income statement and a pro forma cash flow statement and balance sheet.8. Determine how much capital is necessary to get to cash flow positive by calculating your cash flow breakeven point.9. Get feedback on the pitch deck from your mentors, advisors, friends, and family.10. Find a cofounder, if needed, whose skills complement your own and can help you achieve more.11. Select a quality corporate law firm in your area when you are ready to incorporate and get some legal advice.12. Incorporate and obtain an Employer Identification Number from the IRS13. Open your company bank account.14. Talk to your attorney about whether you should make an 83b election. These are often important in significantly reducing your taxes in a very legal way by paying your taxes upfront when you start a company.15. Build a basic product prototype or Minimum Viable Product(MVP), a term coined by Eric Ries which has become very common in startup circles over the past couple of years.16. Create employee agreements for everyone17. Create confidentiality agreements for everyone, both employees and contractors, from the beginning.18. Hold your initial Board of Directors meeting, which could just be with yourself or maybe two board members that you appoint.19. Create your Restricted Stock Unit (RSU) plan and/or your stock options plan that enable you to provide equity ownership and incentives to your employees to gain ownership in the company over time. Often you want to vest those options over a period of four to five years.20. Issue your stock certificates to yourself and to your initial founding team.21. Fund your bank account with the initial capital contribution either coming from yourself, friends or family, or peer-to-peer lending organizations like Fundable or Kickstarter.22. Determine whether you need outside capital to start.23. Raise any initial capital you need.24. Get a company debit card and credit card and apply for a corporate credit line if you need to.25. Set up your accounting software and begin putting in your chart of accounts.26. Select your payroll provider so you can actually pay your employees.27. Consider trademarking the names of your company and product. This is something to discuss with your lawyer.28. Design your logo.29. Create some business cards.30. Find office space to work out of (if you need to.)31. Furnish your office.32. Purchase any software or hardware you need.33. Get Internet access set up, which is obviously critical in a tech company.34. Obtain a Universal Product Code (UPC) if your product is going to be sold in stores.35. Design any labeling and packaging if needed.36. Finish your initial alpha/prototype product and bring it to market regardless of whether it’s a tangible product or an intangible software good.37. Get initial user and customer feedback.38. Order your initial inventory, if needed.39. Register your domain name40. Design your company website.41. Install a tracking tool like Google Analytics on your website42. Add a shopping cart if you choose to pursue e-commerce.43. Get a merchant account if you want to accept credit cards.44. Sign up for an email list tool like iContact or MailChimp.45. Optimize your website for the search engines by adding content or adding a blog and getting other websites to link to you.46. Install a Customer Relations Management (CRM) system—a tool that can track your customer base and the interactions you have with your customers and users.47. Hire your initial staff to be able to begin your operations.48. Create your company values and mission statement49. Announce your product launch to the local media.50. Hold your launch event and start selling.Those are the first 50 steps to being ready to sell your product. The next 50 steps are all about once you start selling, how you can build your business to your first million dollars in sales.51. Hire a team to fulfill your orders and provide customer service.52. Start an affiliate program or distributor program, which enables you to get other people to sell your product for you for a percentage of the sale.53. Recruit affiliates and distributors.54. Set up an ad tracking system so you can track your advertising and the results, conversion rates, and cost per lead.55. Try different online advertising techniques like cost-per-click advertising with a small test budget.56. Get some results for that advertising.57. Optimize and scale it as needed.58. Determine the cost of acquisition per lead for each channel.59. Determine the conversion rate for each channel. Then you can combine those to determine the customer acquisition cost by channel.60. Calculate the lifetime value (LTV) of a customer. Once you know that, you’ll know how much you can spend to acquire a new customer, which is critical to being able to scale your business’s marketing scientifically. If you can combine great storytelling with scientific marketing and trackable channels, you can rapidly grow your sales.61. Test your marketing and advertising with a bigger budget now that you know your LTV.62. Test social advertising and display ads, and calculate the return on investment.63. Scale your advertising up until the marginal cost of customer acquisition is equal to the marginal return from that customer acquired.64. Optimize your advertising to bring down your customer acquisition cost.65. Collect testimonials and use cases from those customers and perhaps even build a few PDF case studies.66. Create social word of mouth for your product, using a tool like HootSuite to manage what’s being said in the media about you, your product, and your brand.67. Create a YouTube video promoting your product.68. Attend an industry trade show or conference.69. Consider selling your product in bulk at wholesale to get more sales and initial brand awareness.70. Bring on a bookkeeper to automate your accounting system so you can stop doing it yourself now that you may have started to have some real revenues.71. Create an employee directory, once you get beyond a handful of employees.72. Begin reviewing your profit and loss (or your income statement) and your balance sheet monthly.73. Compare your initial forecast with actual results. Take the budget that you created before you began and compare that initial pro forma forecast with your actual profit and loss results. Compare the deltas and talk about them as you create your next iteration of your budget. Eventually you’ll begin creating budgets annually and locking in those budgets and calling those the plan, and then comparing actual results on a monthly basis against your annual board-approved plan.74. Hire your first salesperson.75. Create a sales compensation plan that enables you to pay someone either on a percentage of sales basis or based on the units they deliver by converting customers or up-selling customers.76. Set up a company healthcare program and other benefits for your employees.77. Establish your vacation policy.78. Test offline advertising carefully. You’ll want to put some toes in the water around offline advertising like direct mail or maybe local radio, and begin to test and get results and determine if it works for you. It takes a lot of testing to make your offline advertising scale.79. Create an online wiki or intranet for your company where you can keep track of your processes.80. Create a digital company handbook that can be edited and improved by your employees, like a Wikipedia article.81. Open up a credit line with your bank. The best time to go after funding is when you don’t need it. If things are going well, go ahead and open that credit line.82. Create an offsite work policy. Some of your employees may want to work remotely. Generally, as long as they’re getting their work done and are able to show up to the meetings you do have, which should be pretty minimal initially, you should be able to enable them to work offsite a couple days a week.83. Once you can show that $1 in means $4 in revenue, raise capital.Until then, bootstrap as much as you can. Only raise your initial round of capital once you have a mathematical model for scalability, then go out and raise a true series A round of funding if you choose.84. Create a list of firms from which to raise initial growth funding.85. Update your pitch deck with the new data, new mentors, and new team members.86. Build relationships with industry bloggers and different people in the media.87. Seek product reviews.88. Hire an Executive Assistant (EA) or an office manager to manage your schedule and the business’s day-to-day tasks.89. Hold your first company retreat.90. Take customer feedback and improve your product. You will want to create a product management process to incorporate customer feedback on an ongoing basis. Use this process to take your initial alpha, turn it into a beta, and then turn it into a general release, incrementally improving as you go.91. Get connected to investors through people you know.92. Have initial get-to-know-you meetings for investor feedbackabout six to nine months before you’re ready to raise capital.93. Under-promise and over-deliver on your financial and milestone results for the next 90 days.94. Determine how much capital to raise. A good rule of thumb is to raise at least twice as much as you’re going to need for the next one year of operations.95. Return to the firms you like for partner presentations.96. Do 20 partner presentations in 1-2 weeks. You need to have a disciplined, tight process for this.97. Get at least two term sheets.98. Negotiate and sign a term sheet.99. Complete all the diligence requests that come to you100. Close on your investment capital. Make sure the wire hits your bank account. Now it’s time to grow and scale a real company. The hard work now begins