Time Value of Money Formula Sheet

Detailed Account of the UPSC Preparation from scratchI feel privileged today to share my two cents on civil services preparation. Before I begin let me clearly state that there is no magic wand to clear civil services. Also there is no correlation of intelligence and high aptitude with chances of selection in civil services. Most of the people who crack it are no indifferent (at one point of time even they were a part of the herd and felt the same uncertainty of clearing up this exam).But yes something worked for them, that made them successful.I would like to list down some of the most important components which you will find common in preparation of all successful candidates. We can call them as Basic Pillars of UPSC PreparationA timetable and strategy: Nothing is possible without proper planning, a daily timetable and short/long term goals setting. So plan and timetable is the first pillar.A strong foundation and conceptual clarity: it is important to ensure whatever we read, we understand it thoroughly. UPSC questions are very much applied, they need analysis and that can come only when we are crystal clear with our concepts of subject matter.Consolidation and revision: The syllabus is like a vast ocean, it is important to keep consolidating and revising it time and again. So make notes and continuously revise every now and then.Evaluation of Preparation: At every point of time you should know where your preparation stand, that is possible through self-evaluation and evaluation through tests.Consistency: Nothing happens without it. People who show consistency are sure shot to be rewarded, provided they work smartlyDiscussions and Answer writing: Discussions are very important, they will help in clearing your doubts & better understanding of subject matter. Similarly Answer writing has a very important role, knowledge without ability to express and articulate is futile. It is important to develop the ability to deliver in 8 minutes.Being Optimistic: This is the last but the most important one. UPSC is a time taking process, full of obstacles and failures. How to cope up with them, keeping yourself motivated is the biggest key to success.I will discuss each of the above point in detail sometime later. Also I shall take up discussion on soft aspects like right time to start preparation, should job be left, need of a backup, how do I decide why civil services etc. Clarity on all this is must before giving a full-fledged effort for preparation.Now let us discuss how to prepare for civil services.Pre –Preparation ModeThe initial two-three months are very confusing. People are generally not able to understand what to read, how to make notes, which newspaper to refer and other plethora of questions coming to their minds. What most people end up doing is they join a coaching thinking it to be a solution to all problems , others blindly start following some senior who himself is misdirected. This is a very crucial stage and I feel most of the people lose their momentum here because of a faulty start and they find very difficult to realign later.So starting has to be steady and sober. I think it is important to give at least two months to yourself to get yourself in UPSC mode. Start reading newspapers and noting them down, basic NCERT’s of economics, Polity & other basic ones, some good blogs/book etc. This will not only help in giving you a foundation but also help in taking informed decisions related to preparation (estimation of time you will need, need of coaching, should job be continued, optional choice etc.). This will act as a trial and error time where you can learn how to make notes, how to read books, learn from others etc. So this will make things smooth in your preparation be it self or through coaching.I shall discuss in detail how to go about in pre-preparation modePreparation ModeWhen you start your preparation, have a clear cut idea about your study plan. Which books/material to read, which subjects to cover up, how to divide time between (GS, current affairs and optional), what will be the daily targets, short and long term goals.Time Required for Preparation: Since every one of us have different grasping power so please do not go by others set timeline. Take your own time for civil services preparation. Ideally 12-15 months is at least required for preparation mode.Book-ListPrelims Book List (My Prelims Book List)Polity – LaxmikanthModern History – Modern Spectrum , few chapters from Old NCERT class 12th (before 1857)Medieval History – OLD NCERTAncient History- OLD NCERT CLASS 11thCulture- Nitin Singhania + CCRT/NIOS selectively , Mrunal Videos can also be seenEnvironment – Shankar Ias, Old Biology Class 12 Ecology unitEconomics- Sriram Printed Notes + Macroeconomics Class 12 NCERT . Mrunal Videos are also good .Geography – Class 11th &12th NCERT, Class 6 to 10th NCERT selectively, Biomes chapter from G C Leong. Mrunal Videos are also good.Science- NCERT 6th to 10th (Mainly 9th&10th), Some selective chapters from 11th & 12th as mentioned by Mrunal. Vajiram Yellow books of PCB are also fineCurrent Affairs- Hindu + InsightsonIndia + Monthly MagazineOther stuff – Budget+ Eco survey selectively + Indian Year Book Selectively(only if time permits)Test Series – InsightsonIndia papers for its questions . A question bank like Arihant might also be of helpWhat if the basics are very weak. You can do the following:-Read NCERTS 6th to 10th of subjects you feel you are very weakTake help of online videos. Mrunal, Unacademy are good platforms.General Studies MainsGS Paper 1Culture : Nitin Singhania Notes + Vajiram NotesModern History – Modern Spectrum/Shekhar Bandopadhyay , few chapters from Old NCERT class 12th (before 1857)Post Independent History – Vision Ias (selectively), Bipin Chandra India since Independence(selectively).World History – NCERT 9th &10th Old ones, Class 12th NCERT (all selectively) , Vision IAS notesSociety – Ram Ahuja selectively can be seen, current affairsGeography – NCERT 11th& 12th , GC Leong , Mrunal Videos, Vision reference for resources partGS Paper 2Read one reference source for static part and compliment it with current affairs .Polity: Laxmikanth thoroughly + Current AffairsPublic Admin related topics:Vision IAS + Current AffairsIR: Current Affairs. If need be Subhra Ranjan mam IR notes of Pol science are also good to be selectively referred.Insight secure Initiative is very helpful here. Look at paper 2 questions posted up and read answers on topics you have little or no idea. Collate it in your notes.GS Paper 3Economy & Infrastructure : Prelims studied sources + Sanjeev Verma + Economic survey + Budget + Current AffairsAgriculture & related topics : Mrunal + Vision Ias + Current AffairsSecurity – TMH book on security + Current AffairsEnvironment & Science : Mainly current affair + whatever studied for prelimsDisaster Management : Summarise ARC on DM + Current AffairsHere also make most of Insight secure Initiative + Newspaper + Vision Ias MagazinesGS Paper 4It is not a technical subject , this subject requires very clear understanding of value aspect and then its application in real life and contextual problem. So focus should be on general understanding and answer writing.Read one reference book say lexicon. Summarize and make your own notes for values, concepts and relate it to examples. Eg attitude. what is attitude, attributes of attitude, how to change attitude etc. Make simple points on all these and relate it to real life examples.( how to change a bureaucrat attitude, society attitude etc). This year a question was based on it only- changing attitude of villagers towards female education. How will you do it.UPSC expects application of ethical knowledge in real life and this is how we need to do it.Refer Insights secure for answer writing and reading others answer.Key is read less, think more ( collect examples, reason and analyse etc) and then practice how to write. Refer some test series if you want. GS score case studies solutions were really good earlier. Don’t know now.Use: Lexicon, InsightsonIndia articles + Secure Initiative , Some test papers with solution on case studies( GS score solutions/Lukmaan), self analysis and note making.General Good books / sources for knowledge addition :-India After Gandhi :- Must to understand India’s transformationImagining India :- Discusses well India’s issues and solutions to them12th 5yr Approach plan: Very helpful for paper 3Economic Survey and BudgetRSTV discussionsSelective reference to Kurukshetra, Yojana, EPWHow to Cover SyllabusSyllabus can be divided into 3 partsPre cum Mains:This is that part of Syllabus which is more or less common for prelims and mains. E.g. Polity, World Geography etc. You will get to know just by seeing Syllabus which all parts are common.Prepare this part holistically for prelims and mains together i.e. understand the concept and as well learn the factual part. For example if you are reading Laxmikant and topic is Speaker, from prelims perspective you will focus on how speaker is elected, his powers, which committees he heads etc. & from mains point of view you will focus on role of speaker in effective functioning of parliament, how to ensure political impartiality of speaker, UK vs India model for speaker etc.If possible make some notes or put stickers in the book and summarise. Write some answers for practice every now and then (get this evaluated by someone).Pre cum mains section needs to be covered well in advance before prelims examination, so that you can revise twice before prelims. Also you should practice at least one test series for prelims.I will discuss prelims and GS-1, 2, 3, 4 preparation paper strategy separately, where I can talk about how to cover syllabus, book list, note making, how to link static and current knowledge, how to consolidate and what to write in answers.2. Mains topics OnlyThis refers to those part of syllabus which are not common with prelims. E.g.- GS Paper 4, World History etc. Refer syllabus and you will get all of it.One should read each and everything from this section and make some notes also before prelims. So that after prelims you can join a test series and write test and evaluate and revise only.3. OptionalChoose optional on the basis of interest, time requirement, material availability, marks trend etc. It is very important to cover the entire syllabus of optional before prelims. After prelims it should only be revision, value addition and answer writing practice.Other Important Components of SyllabusCurrent AffairsCurrent Affairs is very important for prelims and mains point of view. One needs to make continuous notes because most of the questions asked in prelims and mains have a correlation with contemporary developments taking place. Sources you need may include:-A current Daily: to capture recent happenings, reading editorial, noting examples, general awareness and facts. Hindu and Indian Express are good sourcesMonthly Magazine: To get a consolidated source every month end. Vision, IAS Baba or any other will do.InsightsonIndia: Secure Initiative for Mains Value addition and Current events for prelims majorly.For prelims: Capture all events, organisation, initiatives, schemes & policy, scientific developments, Institutions, people etc. in newsFor Mains: Go through the syllabus thoroughly and make categories (Polity, IR, S&T etc.). Capture any government initiatives, policies, latest development in any field, issue analysis, editorial, case study, facts related to the syllabus.2. EssayMost of the people generally ignore essay preparation. I could increase 32 marks in my GS altogether (375 to 407) after putting up lot of efforts. But not even 1/10th of effort was required to increase 28 marks in essay (121 to 149). So it is very important to prepare for essay. Essay preparation does not require any coaching as fodder you will get from GS preparation. What needs to be learnt is how to articulate that knowledge, how to create an outline of essay and structure your ideas, how to give illustrations and include quotes, facts, examples in essay. All this will come with practice and some homework.I will write on this in detail later.PRELIMS TIME (what to do)Prelims has become highly competitive, keeping in mind that CSAT is out and cut-off is going very high one needs to give a lot of attention to prelims .Now focus has to be on two areas. One is what to prepare and Second how to solve the paper.What to prepare:Firstly focus on basic books and NCERT and cover them thoroughly. This is the most conventional and safe area from where you can be sure that question will come and you will be able to solve. Secondly read budget, economic survey and current events thoroughly. This is another favourite area of UPSC now. Apart from this there are so many growing resources for environment, culture, conventional subjects coming up. Read them selectively on your discretion once you are done with above mentioned things.Most Important is revision, revise at least thrice.Also do give tests they help in evaluation, course completion and revision. If you don’t want to join take papers from the market. InsightsonIndia papers are very nice.How to solve the paper:The papers these days are very confusing due to multiple choices, making it difficult to attempt questions with 100 percent surety. So at times we need to take calculated risks. Paper need to be solved through 2 ways. One you know what is the answer, other you know what can’t be the answer so indirectly leading you to the answer. Read the questions and solve them in the question paper first. If you know the answer put a tick in the question paper, if you don’t know leave it, if you are 50-50 ( able to eliminate at least two options) you can put a round or any other way you like to make it like a marked question. Now in your answer sheet first fill only those questions you are 100 percent sure. Count such number of questions. Based on your self-evaluation figure out if you need to take some risk. If you think you have done ample questions and will easily clear so don’t take a risk. If you feel your attempt is very less then take some calculated risk with questions you had put as marked questions, choose those questions among them where you are able to eliminate one more option or are more or less confident towards one of the two options left.I am only sharing an approach using it is solely your discretion, don’t go by mine or anyone else advice. Practice it in mocks and then take your own decision. Though best thing is to ensure you take minimal risk, but such conditions are idealistic and we have to be prepared for emergency situations.PRE-MAINS TIME (what to do)This is the time when all your notes/revision sources should be ready. No new reading in this period except current affairs and some value additions. Now set a timeline for revision. You can use a test series or even self-defined deadlines. This time 116 days are there so plan accordingly.Consolidation (75-80 days)Tests will have a weekly/bi weekly plan and a part of syllabus is supposed to be covered. First cover the left over parts of the topics if any left. Then revise everything. While revising keep your static and current affairs notes /sources together and consolidate them.For eg- you read speaker in Laxmikant, in current affairs you would have come across how speaker misused anti-defection law in Bihar, how a bill was labelled as money bill to bypass Rajya sabha etc. Likewise consolidate your knowledge of current and static parts for every paper.Most importantly focus on answer writing a lot. Not just writing but get evaluated through test series, friends, seniors in services or Insight on India. Objective behind writing is solely improve your articulation, structuring etc.First and Second Revision ( 35-40 days)It is important to remember basic ideas in the examination hall. Rather than reading new things focus on strengthening what you have read. So two rounds of revision are much needed. It sounds idealistic when we are not even able to cover the syllabus. But my focus is on quality of coverage than quantity. And if you plan properly you can have quality along with quantity.Note MakingWhatever you read in Static and Current part keep consolidating topic wise. Anything new add in your notes rather than reading again and again. Later these notes can be consolidated and used for revision purpose. If you will not make notes you will not be able to catch hold of entire syllabus, keep forgetting things. So start making notes from day 1. In course of time you will learn how to make, manage and revise themWhat else is required?I think three biggest facets of this preparation are Knowledge, articulation and positive attitude. Nobody talks about this third facet which is the most important and critical aspect of not just Upsc preparation but life in itself. I am focussing on this because I left my preparation once thinking I am not capable of clearing UPSC and here I am with rank 25. It happened only when I changed my outlook, had I not changed it, my capabilities would never had come out. I could not have achieved this feat.I am sharing a small link to an article I wrote sometime back. https://www.quora.com/What-is-th...Queries?I know all of us are full of confusions and queries. So in case any one of you needs any help you can signNow out to me on a fb page I created this page to upload articles and videos and answer all your queries. In case you need any help in answer review. You can post here only.Link is : https://www.facebook.com/CSE-Pre...Also you can poke me on quora. https://www.quora.com/profile/Ch...I shall try to write a series of article or make some videos on each and every aspect related to UPSC preparation. Please give me some time.Best wishes to all of you. Hope we all do our best in our lives.

A2ANo and Yes.Hourly employees fill out time sheets. There are not a lot of hourlies, outside support roles, such as security or cleaning or catering staff. Other employees — admins, executive assistants, receptionists, HR folks, etc. are usually salaried employees, just like everyone else. Salaried employees are generally exempt from overtime pay rules.Contractors have to fill out time sheets, just like hourlies. Contracts are typically fixed price — in which case they are bid per job, rather than by time — or they are fixed number of hours — in which case they track their hours, and when the hours are gone, the contract is up.Salaried employees do not have to fill out time sheets — although some companies require them to do so, when they are on a “PIP” (Performance Improvement Plan), if they had a really bad performance review, to track their work habits, and help them improve, assuming the plan is actually to help them improve, rather than just a way of documenting before letting them go.Salaried employees also tend to do status tracking; this lets them deal with KPIs (Key Performance Indicators), which are factored into the performance review process. For most tools, these have external visibility within the company (Facebook, Google).At Apple, there are so many secret projects that you can’t talk about, typically it was an email regarding the radars (radar is the name of Apple’s internal bug tracking system) you worked on. You sent the list to your manager with the status and status change (e.g. investigated, working on, in build, verified, closed, can not reproduce, won’t fix, etc.), and the manager censored the title, leaving only the number, when reporting them to the group. Sometimes you had to censor the title from your manager, if you were read in on things, and the manager wasn’t.For the Apple reports, the reporting requirements were pretty dumb, since it would be possible to automate aggregating nearly their entire contents. In fact, I did automate my own, since all you had to do was allow a socket take-over from radar, and then you could just run straight SQL queries against the database on the back end. So I’d open up radar, and run a program that would grovel through the open sockets the program had, and then run an ioctl() — which existed only in my own kernel — to take over the socket connection from radar, and then grovel the database.If there was a new feature to be added, there was a tracking radar, and subtasks. They didn’t have tools to do it, but I was able to make a tool using the same technique to spit out Gannt charts (I wrote project management software, back in the day). It was sometimes amusing to see how much “negative slack” (i.e. schedule slip) was in projects that were supposedly “on track to be completed on time.The database folks that managed radar could have just auto-generated the same reports for all the managers. But they didn’t, so meh, I saved myself about an hour a week (I tended to eat through bugs rather quickly, so ended up with long lists).I don’t know how Amazon does work tracking.But KPIs for salaried workers are generally not accounted by hours in any of these companies.Vacation tracking and sick leave was done using a request tool. This cared about hours, even for salaried employees, and the manager would approve/disapprove requests. All the tools were different, and they weren’t technically time sheets.The tools, at least for the companies you mention, are all in-house tools, since there are different functional visibility requirements for each company, and they don’t all operate with the same level of transparency.This is not something they’d outsource to a third part SAAS provider, for example, even if there wasn’t proprietary information involved.

I live in Germany. I got an invite to the Quora partner program the day I landed in USA for a business trip. So from what I understand, irrespective of the number of views on your answers, there is some additional eligibility criteria for you to even get an email invite.If you read the terms of service, point 1 states:Eligibility. You must be located in the United States to participate in this Program. If you are a Quora employee, you are eligible to participate and earn up to a maximum of $200 USD a month. You also agree to be bound by the Platform Terms (https://www.quora.com/about/tos) as a condition of participation.Again, if you check the FAQ section:How can other people I know .participate?The program is invite-only at this time, but we intend to open it up to more people as time goes on.So my guess is that Quora is currently targeting people based out of USA, who are active on Quora, may or may not be answering questions frequently ( I have not answered questions frequently in the past year or so) and have a certain number of consistent answer views.Edit 1: Thanks to @Anita Scotch, I got to know that the Quora partner program is now available for other countries too. Copying Anuta’s comment here:If you reside in one of the Countries, The Quora Partner Program is active in, you are eligible to participate in the program.” ( I read more will be added, at some point, but here are the countries, currently eligible at this writing,) U.S., Japan, Germany, Spain, France, United Kingdom, Italy and Australia.11/14/2018Edit 2 : Here is the latest list of countries with 3 new additions eligible for the Quora Partner program:U.S., Japan, Germany, Spain, France, United Kingdom, Italy, Canada, Australia, Indonesia, India and Brazil.Thanks to Monoswita Rez for informing me about this update.

Yes this is true for everyone. Why would that be if your pay does not depend on it?The timesheet might or might not feed into the Paid Time Off (PTO) Tracking system so your vacation days are subtracted correctly for each day taken. In many companies, there is a separate PTO system.In an engineering job certain expense are amortized against different accounts. Time you spend on Research & Development has different tax consequences for the company. Some expenses are taken immediately while others have a multi-year write-off procedure. Luckily, none of this is your responsibility, just make sure you know how to operate the timesheet tracking system.In one instance, we had to track number of days Training to match an overall company goal of perhaps 5 training days per year.

I'm not sure if this is a purely exploratory question or if you're inferring that you're planning on navigating the group health insurance market without the assistance of a broker. If the latter, I'd caution against it for several reasons (which I'll omit for now for the sake of brevity).To get a group quote, generally all that's needed is an employee census. Some states apply a modifier to the rate depending on the overall health of the group members (for a very accurate quote, employees may need to fill out general health statements).Obtaining rates themselves can take a few minutes (for states like CA which don't have a signNow health modifier) to several days.I suspect your cor question is the time/effort required once you've determined the most appropriate plan design for your company. This is variable depending on how cohesive your employee base is.Best case scenario - if all employees are in one location and available at the same time, I could bring an enrollment team and get all the paperwork done in the course of 1-3 hours depending on the size of your group. In the vast majority of cases, the employer's paperwork is typically around 6 pages of information, and the employee applications about 4-8 pages. Individually none of them take more than several minutes to complete.Feel free to contact me directly if you have specific questions or concerns.

I am qualified to answer this:You are no doubt a manager and love, I mean adore, no worship XL. Right?And there is no greater pleasure than wasting someones time with filling in meaningless info day in, day out, day in, day out, day in, day out day in day out dayin dayout dayindayoutdayindayfuckingout.And that is because managers are not programmers. They think that people come to work to do battle with colleagues. Most programmers have entire other ideas. They work to do battle with competition. They make stuff. They invent easier ways to avoid having to repeat themselves. In one word, they are different human breed. Unlike managers who think the pinnacle of control is that everyone fills in endless paper lists and sheets with useless facts.If the above sounds like a rant… it is.So how to solve it. Begin to think like a programmer. It is refreshing. So rather than instantly grab your XL.. have one of them write a little program that sits in the top of the screen and ticks away time. A few select buttons allow for selecting how the next time will be spend and on which project. And that makes it possible to do the entire fill in procedure with just a few clicks each day. And it gets better. Rather than you having to spend 4 days on compiling some total sheet, you just ask the database to do that for you… and suddenly you have 3.9 days left to do other stuff.Oh.. just in case you wonder why the anger… I spend four weeks writing a program to eliminate 32000 entries. By hand. Each a name or email number that is case sensitive. In 5 different systems. That be about half a million keystrokes. All of which have to be flawless or it will cost the company about 3k dollar to replace a device. They original planned to hire ten or so Indians to hammer it in and managers to check it was all ok.So, app done, we now use scanners. Client elated. Operators in heaven. Congrats from CEO. Guess what low level manager in charge instantly added, for no special reason as to be in control? Yup .. an XL spreadsheet where people have to sign off that they scanned each item. As if maaybe, maybe the computer is not smart enough to tell if something is missing.Managers… weird people really.

Time value of money is also a critical consideration in financial and investment decisions. For example, compound interest calculations are needed to determine future sums of money resulting from an investment. Discounting is used to evaluate the future cash flow associated with capital budgeting projects.

There are three basic reasons to support the TVM theory. First, a dollar can be invested and earn interest over time, giving it potential earning power. Also, money is subject to inflation, eating away at the spending power of the currency over time, making it worth a lesser amount in the future.

The time value of money matters because, as the basis of Western finance, you will use it in your daily consumer, business and banking decision-making. All of these systems are driven by the idea that lenders and investors earn interest paid by borrowers in an effort to maximize the time value of their money.

TIME VALUE OF MONEY AND ITS APPLICATIONS A dollar now is worth more than a dollar to be received later. This statement sums up an important principle: money has a time value. Money has value because with it one can acquire assets and services and discharge obligations.

Time Value of Money Formula But in general, the most fundamental TVM formula takes into account the following variables: FM = Future value of money. PV = Present value of money. I = interest rate.