Table of content - Essay Example

Business Proposal Contents Contents 2 Executive summary 3 Business Proposal Outline 4 Business proposal Introduction 8Individual Expense Report 11Findings: Individual Expense Report 15Conclusion 23Individual Expense Report – Annotated Bibliography 26Executive summaryThe research aims at establishing the budgeting process and its relevance in the business. The final goal is to come up with a simple template of a budget for as simple income earner. The core problem rotates around the inability to have a tool where one can maintain the daily track and records of the expenses.

Inability to track the spending lead to affected budgeting and the business is prone to failing. Budgeting is a part and the backbone of survival of most businesses to establish the direction and the progress. One is hence not accountable on the spending of the business. There is also a problem in where one is not in a position to draw up a clear investment plan with limited finances. All these problems emanate from the failure to have a tool where one can account for daily expenditures and income.

The end solution, therefore, is to invent a tool that facilitates evaluation of the financial inputs and outputs incurred on a daily basis.To gather the information, academic journals were analyzed. Data collection did entail utilization of a cross-sectional survey, using the questionnaires. Information was also the journals tend to explain some of the challenges and drawbacks that a person may face while budgeting. They also give a clear guideline on the steps to draw an effective budget. Theoretical studies did indicate that the business is subject to undergoing various steps in its operational life.

All the steps have different financial demands and unless budgeting is done effectively, it is prone to failure. Personal expenses also stand a gap in the success of a business. Therefore, budgeting of the expenses is equally important.Business Proposal Outline I choose to go with the third option simply because it revolves around developing my own expense report. It directly has to do with my finances that range from my savings, wages, expenses and investments. Everyone ought to have a well-developed Individual Expense Report even if only to keep track of both the in-flow and out-flow of his or her personal finances.

It is a good true that can help solve the problem of trying to figure out what you did with your last month’s income and what you can do with the extra cash you still have. Finances are very volatile and if not allocated to a certain area, they tend to disappear with nothing tangible to show for them. Option C to me is the basis of the rest two; reason being that one has to learn their own financial management before they can launch out to writing reports for companies (Option A) or a future business (Option B).

One of the things I hope to learn is the different types of finances an individual has and how to keep a tab on them. This will help me ensure that my money works for me and that I can account for all the finances that come through my hand. This is because financial management and accountability is a priceless attribute to any individual. I also hope to learn how to use the little I have to make more through profitable investments both on a long-term and short-term basis. Cash only grows if invested and used wisely.

My research will form its basis through an initial research on how to manage small amounts of cash. I will also carry out a survey that will mainly involve college students. The survey will aim at establishing the different kind of finances available to them.The survey will employ the use of open-ended questionnaires. It will also aim at establishing the different forms of investment plans available to college students and how the latter can access them. I will therefore need to carry out a research on the different types of investments provided by banks to small-scale clients like college students.

The report will also aim at coming up with a simple template for individual financial income and expenditure report. This tool will aim at helping people keep track of their finances on a daily basis. This will help in ensuring that information of personal finances is readily available to an individual for monitoring and review.At the beginning of this report due to its bulkiness of data collection and analysis, I will dedicate the first two hours of the day to it. This will enable me plan what to do for the day in terms of the report before I start other activities of the day.

Once I have built my case for the report I may adjust my time. I will also take at least half an hour in the evening to go through what I have built on the report during the day.OutlineI. CoverII. Fly sheetIII. Title pageIV. Table of ContentsV. Letter of AuthorizationVI. Letter of TransmittalVII. Table of Tables/Figures VIII. Executive Summary- 1-2 pages (identifies problem/causes/possible solutions)a) Problem- Lack of having a tool to keep track of my finances on a daily basis is my main problem.

I tend to wonder where most of my finances are consumed on. I also have little knowledge about investment plans that could work with my limited finances.b) Causes- This is due to the lack of having a tool to help me account for my finances both the income and expenditure on a daily basis. Knowing little about investments is also a reason to the problem I have of not being able to account for my finances.c) Solution- To develop a tool to use on a daily basis to monitor the use of my finances. To learn about investment plans that favor small investorsIX.

Introduction- 1/2-1 page (describes problem in greater detail)The introduction will draw a clear picture of what finances are available to me compared to a normal American household. It will explain in detail the various ways that the available finances should be invested for an insured future.X. Body: Approaches/Strategies 2-3 pages (identifies assumptions/context/problem solving methods). This part of the report will show the outcome of my survey and explain the results in detailXI. Body: Findings- 4-5 pages (data and analysis/summary of recommendations)This part will lay down the data collected and analyze it.

It will also explain how a normal American household can benefit through the application of the findingsXII. Conclusion- 1-2 pages (concluding remarks/potential outcomes)The conclusion will shortly explain how the findings of the research will affect how I use my finances as well as the benefits that can be derived if used by an American household.XIII. Footnotes- 1-2 pages (works cited/references)Business proposal IntroductionI want to create an Individual Expense Report since it is the best to go with also one is in charge of my own money and, therefore, I can be easy to budget.

It is because of a personal finance that is as a result of saving from the wages that will assist in the future insured development. I will be earning an amount of sixty thousand per year. This amount if well managed will help me to face the future American household expenditure. As compared to the current American household expenditure, I will be able to examine the problem that is at hand and have some solutions to overcome them. With the Individual Expense Report, i can be able to know the expenditures and also be able to plan and save for a good insured future compared to the American household income.

With the income of sixty thousand per year and also, some savings from a part time business, savings of more than the average income of the household in America will ensure that I use my money for my expenses without so much difficulty. I will be able to balance my expenditures and come up with a balanced sum of the expenses and the savings at large. The wages that I assume earning about 60,000 dollars I will be earning plus the savings and a part time job earnings will contribute to the savings for an insured future, it will help one to avoid the future embarrassments as a result of higher inflation in America.

The methods or the assumptions show how this problem of the high price of the American household commodities such as food, electricity, water and other household needs. In trying to remedy the high price, which is extremely a pinch of those who earn very little or just the average earners, one can cut short the expenditures of the expenses in the house. For instance, the use of machine in the house generates a lot of electricity and thus, increasing the electricity bill. It can be reduced by implying less use of machines and improvise own hands.

Also, in the household stuff such as food, fruits, one can purchase when they are in low cost and store in the freezers to avoid the rush that could lead to frustrations in the future. The average American household budget can be solved out in some ways; when one is budgeting for the expenditure under the average earning or the wages, one is recommended to stick to the budget and consider the most important variables that one needs in the house. Also, another recommendation is that, the American household expenditure could be lower and the government to regulate on the prices of the household commodities to for future reasons.

Compared to the savings and the 60,000 per year earnings, there is a challenge on spending the fund in relation to the American household expenditures. Since the household expenditure has increased it will take an extra step to managing the finance at hand in the  savings account. And also, the interest rate in U.S. is very low, people won’t save the money in the banks, government encourage the investors to invest the financial market to push the economy. With the Individual Expense Report I also want to learn what plans or portfolios investment banks offer to their clients in order to protect the uncertainty in the future.

So I want to creat a personal portfolio in order to plan and save for a good insured future. However, the unemployment has declined in America, but has not been able to balance the household expenditures commodities. It is affecting those who earn just average salaries or just meager wages; it becomes hard to go in the peace of the household commodities and facilities. The American household, when used together with the savings, will assist in the decreasing the rate of spending and also be able to budget the spending to avoid the future problems.

Individual Expense ReportAn individual expense report is the business proposal that I would like to initiate. It enables one to be in charge of his or her money. Moreover, budgeting of money from savings becomes easier and manageable. To solve the problems of the business proposal successfully, first an elaborate plan has to be initiated. The use of SMART (specific, measurable, analytical, realistic and time range) analysis in the business plan can be an effective way of solving the business problems.

Some of the specific plans include savings from my wages to help solve the problem of future financial constraints. Saving from the wages enables an individual to have the plans for the future development of the business. To help solve the problem of wastages in my business proposal, an elaborate plan of solving expenditures that entails proper management of savings from household goods will protect any wastage from the business. The expenditure plan needs to have a measurable and quantifiable financial figure that only includes major expenditures.

The report helps in managing financial problems by eliminating any possible wastage from the business plan. Saving from wages enables an individual to have the plans for the future development of the business. Additionally, an expense report helps the future of the household expenditure. The individual expense report enables one compare the current household expenditure with the future developments of the same expenditure. Problems at hand are handled easily and solutions of the future using an individual expenditure report.

Therefore, the development of a business proposal has many varied benefits to a business, which enables prosperity and developments of the company in many varied and effective ways. Existence of an average annual pay of sixty thousand, enables business individuals of households in America to save their money effectively for future use. Savings are from part time business and from an average income of households. The savings are possible using an individual expense report. The balancing of individual expenditures and sum of the expenses becomes easier with savings at large.

Savings grow from average earnings of sixty dollars contributed by savings from part time job because of the development of an individual expense report. This ensures future security and allows for development of the business in many diverse and varied ways. Likewise, embarrassments of future inflation are avoided using an individual expenditure report. The main financier of the business proposal is from wages and savings.The development of an individual expense report curbs the consequence of high price American household commodities such as electricity, food, water and other important household goods.

The use of a genuine and realistic plan, which incorporates time frame as stated in SMART analysis helps in controlling the problems developed in handling household commodities. Having a time frame allows for the business to develop attainable objectives within the business plan, which will be incorporated after the elapse of the period. The objectives of the business proposal solve the problems of managing wages and savings. It is vital for my business to have an elaborate objective plan in solving some of the problems.

The advantage of the expense report that enables an individual prepare for the future more effectively. The preparation enables an individual to control monetary services in a more mature way, which ensures an elaborate structure that minimizes wastages. Every single cent accounts in the individual expense report. The possibility of using money for other different purposes rather than for the establishment of the business is managed using the individual expense report. Additionally, expense report enables business people to manage finance at hand in the savings account, despite the increases in the expenditure of households.

Savings in banks will be minimal especially in United States, because of low interest rates. Many people will take up the responsibility of using an individual business expenditure report to manage their finances. The effect of individual expense report is that the government will encourage investors to make great investments in the financial markets with the aim of pushing the economy. The majority of the investors will emanate from business people who have an individual expense report. They individuals are more capable to take the investments since they have more savings developed from their expense reports.

The possibility of their success in the investments will be high since, they are well acquainted to the financial sways and are more able to manage finances in an effective approach. Investments will be easier in using an individual expense report since it enables an individual develop plans and portfolios from investment banks. The banks are able to offer clients with all the necessary information based on the investments’ to protect uncertainties that emanate in the future. The use of an individual expense report enables the banks give investor relevant information concerning the establishments of the investment since they are able to study and develop appropriate structures from the expense report.

Consequently, individual expense report allows entrepreneurs’ to have and develop effective personal portfolios to plan and save for the future. The portfolios ensure the protection of the future using savings that emanate from the expense report. The average American household budget is managed using an individual expense report. The expense report allows the budgeting of expenditures under average earnings and wages. The report encourages an individual to stick to the budget and considers only the most vital needs in the house.

The report allows for more savings and developments of investments from savings since financial wastages’ take controlled. The American household expenditure rates at lower values and the government regulates prices of the household commodities for future reasons. Therefore, an individual expense report enables governments to control prices and has an effect to the general living conditions. The expenses endured in households’ commodities are controlled and general operating expense reduced using the report.

Basic commodities like food, fruits and other household commodities are purchased easily in low costs. To use an individual expense report that it enables one plan for the future and save for any uncertainties’ that come along during inflations. Expenditures in the house reduce. For instance, the use of machines in the house is replaced by the use of hands since an individual expense report illustrates better plans. This reduces electricity bill by using an individual expense report.The individual expense report also enables households to make a decision to invest the securities in the future.

In recent years, the government published the Quantitative Easing (QE) to boost the economy. Central bank purchases government securities or other securities from the market in order to lower interest rates and increase the money supply. Now, the short-term rates are at or approaching zero, people would not to save the money in banks, to avoid the inflation, many American household decide to invest the retirement plans such as IRAs, 401(k), 401(b). The advantage of the expense report, people could track their spending, budget the income and avoid the uncertainties.

With little knowledge of the investment, the report helps people understand how much could spend, how to manage the money, and how to invest their money effectively. The use of an individual expense report reduces household expenditure. It enables an individual to plan effectively without encountering major effects that the future creates. It is vital for individuals to take up the responsibility of developing individual expense report in order to manage properly their finance.Findings: Individual Expense ReportIndividual expense report is the business proposal that I would like to initiate in operating a business.

The report enables individuals to be in charge of his or her money. Additionally, budgeting of money from the savings becomes easier and manageable. Graph extracted fromFraud Risk Assessment: Building a Fraud Audit ProgramCategory 1 to category 4 shows some of the different periods that the business may experience during its operations. Therefore, expenses base on the type of category experienced. During high categories such as category 4, expenses reduce since the category expects high expenditure affecting savings of the business.

Series 1 and 2 shows some of the downs and falls of the business. The graph shows an individual to determine the periods of savings and expenditures of the business and hence reducing costs and maximizing on profits. Saving from wages enables an individual to have plans for future development of the business. Some of anticipated problems in developing the business plan include lack of enough financial resources and inadequate time for the individual business expense report to take effect. Savings grow from average earnings in category 1 to category 4 may be sixty dollars contributed from savings of part time job since the development of an individual expense report moves with high savings from category 1 to category 4.

This ensures future security and allows for development of the business in many diverse and varied ways. Likewise, embarrassments of future inflation are avoided through the study of the series 1 and 2 using an individual expenditure report. The main financiers of the business proposal originate from wages and savings that show in the graph from category 1 to category 4 and interchange of series 1 and 2.Data extracted fromhttp://www.npr.org/blogs/money/2012/04/05/149997097/what-americans-buy Individual expense report helps households to maintain a sense of savings from their financial status.

The development of an individual expense report regulates the consequence of high price American household commodities such as electricity, food, water and other fundamental household goods. The graph shows the percentage of American households spend their income during the 2011. As we can see, housing has the biggest percentage, which is 41%; the food and transportation are 14.2%, 13.8%, respectively. Compare to the other consumptions; food, transportation and housing are almost 70% of the total expenditure.

The data predicts that American households would like to spend much on the cars, groceries, and food. The developments in expense report that enables an individual prepare for future implications more effectively. The expense report of households need to budget such as date of a meal, purpose of meal and finally the cost of the meal in terms of expenses made in food consumption of the households, and the cost of transportation, people could take the public transport instead of driving the cars, it could reduce the unnecessary spending, and also protect the environment.

Preparation of an individual expense report enables an individual to regulate monetary services in a more effective way; to budget the personal expense ensures an elaborate structure that minimizes wastages. Every cent spend expenditure appears in an individual expense report. The possibility of wastages of money in serving other purposes is managed for other different positive purposes. The advantage of the budgeting may establish the business in more other developments such the management of suppliers and creditors using individual expense report (Vona 186-9).

Date extracted fromhttp://www.npr.org/blogs/money/2012/04/05/149997097/what-americans-buyWe can also use this data to see how American’s spending patterns have changed over time. Here is a comparison of spending in 1949 versus 2011. As we can see, the pattern of consumption of American household had changed greatly. This chart shows that secured spending has doubled for housing and transportation for low to moderate incomes. It implies that the modern American households have more burdens on rent, mortgages, cars and gasoline.

People have to pay almost half of their income to housing and transportation. The secured spending could hardly decrease it, people would rather to cook at home, buy less new clothes. When there is only spending but not savings on basic necessities, the chart proves that expected but unreasonable borrowing halts consumer security or growth but rather keeps moderate income earners in a holding pattern with no growth, no savings, no economic boom. It is difficult to save and to make new purchases on high-ticket items when there is such low return on CDs and conservative and moderate to stocks.

Additionally, expense report enables business people to manage liquid finances using savings account and observations of interchanges in the graph, despite the increases in the expenditure of households. Savings in banks will be minimal especially in United States, because of low interest rates. Many people will take up the responsibility of using an individual business expenditure report to manage their finances. Effect of individual expense report is that the government will encourage investors to make great investments in the financial markets with the aim of pushing the economy.

Majority of investors emanate from entrepreneurs’ with individual expense report. Individuals are more capable to take reserves since they have more savings developed from their outflow reports. The possibility of success in reserves becomes high since, financier is well acquainted to the financial sways and is more able to manage finances in an effective approach. Investments become easier using individual expense report since it enables an individual develop plans and portfolios from investment banks.

Moreover, banks are able to offer clients with all the necessary reports of investments’ to protect uncertainties that emanate in future. The use of an individual expense report enables financial institutions to give investors applicable information concerning the establishments of the investment since they are able to study and develop appropriate structures from the expense report. Additionally, expense report allows entrepreneurs’ to have and develop effective private collection of plans and save for the future.

It ensures safety of the future using savings that stem from the expenditure report. With $5.7 trillion in assets at the end of the second quarter of 2013, individual retirement accounts (IRAs) represented more than one-quarter of U.S. total retirement market assets, compared with 17 percent two decades ago. IRAs also have risen in importance on household balance sheets. In June 2013, IRA assets were 9 percent of all household financial assets, up from 4 percent of assets two decades ago. American households are willing to save their money to invest to retirement plan.

Because of the unstable economy, households are not willing to put their money on the risky financial market, they are prefer to save their money on retirement plans, such as IRAs. Graph extracted fromhttp://www.ici.org/pdf/per19-11.pdfWith the total 110 million of U.S. household owns IRAs, the data proves that people concern about how they spend their savings. People try to save their money effectively; to keep their money avoids the upcoming financial difficulties. Most people invest the IRAs in order to keep their money safely and protect them from the uncertainties after they retire.

Expense report allows budgeting of expenditures under average earnings and wages. A budget report gives an account of all the expenditures of a business and therefore controlling figures of the business becomes easier. The report persuades persons to stick to budgetary figures and consideration of the only most fundamental costs in the house. An individual expense report enables to control personal spending and has effect to the universal living conditions. The expenses endured in households’ commodities are controlled and common operating expense reduced using the description.

Expense report enables the American households to regulate the plan of the future and save any uncertainties’ that develop during inflations (Vona 200-2). Development of charts and graphs helps an individual to observe the interchanges of the graph and make relevant decisions concerning the budgetary issues and expense. Moreover, the use of an individual expense report regulates household expenditure. Budgeting enables an individual to plan effectively and avoid any major encounters presumably create in future.

It is fundamental for individuals to take up the accountability of developing individual expense report in order to control their financial abilities effectively.Conclusion Making a good budget is usually a tedious task faced with many problems and challenges. For individuals who want to know exactly how much they spend on a month-to-month basis, what expenses they have, and how much of their future personal income will be allocated towards their monthly expenditures, personal budgeting maybe a good way to figure out the problem.

For any individual involved in personal budgeting, proper understanding of the income and expenses to establish a balance between spending and saving is very important. Depending on how much you earn each month, your monthly expenses, and how far ahead you want to plan, setting up a personal budget is a good way to know how much you could save, and what mount of your income to allocate your expense. In whatever activity an individual engages in, thinking about the future is always important.

From my investigation, I have found some advantages of the personal budgeting, to budget your own income, you can exactly know where your money goes, pay for the rent, buy the groceries or pay for the electricity bills. With the additional funds, you can plan to put your savings in some securities to protect yourself in order to avoid the uncertainties. And also, saving from wages is an important aspect that helps in providing future solutions, you can restrict yourself to spend your money, buy what you need instead of what you want to buy.

Wastages is a contribution of unregulated and unplanned expenses. Minimization of wastages by appropriate budgeting ensures that personal spending are made in purchasing items that are of greatest needs, other than those that simply satisfy the common needs. However, personal budgeting is not always perfect, some drawbacks we should consider, such as emergencies and unexpected occurrences. Unfortunately, if you have car accident, or unexpected healthy problem, your budgeting plan maybe gets in trouble.

Regardless of the situation involved, it is important that all individuals making any financial plans to control on the expenses and savings should always develop individual expense reports. These aspects if followed appropriately would indeed ensure that various challenges facing unexpected financial difficulties and therefore, the different approaches developed to address the challenges are indeed effective. Individual Expense Report – Annotated Bibliography1. Peter Serrano (2012) How to Properly Categorize Your Budget Expenses.

Web May 2014.www.personalfinancemastery.comIn this article, the author explains that in order to create a budget, it is necessary to keep a track of ones expenses and categorize them by organizing them according to time frames. Such categorization helps to give priority to things that need our immediate attention. This article is especially useful for employers to understand the expenditure their companies incur over long periods of time.2. Dave Roos. How Personal Budgets Work. Personal Income and Expenses. Web. May 2014. www.money.

howstuffworks.com/personal./personal-budget1.html‎ The article explains that if one has to create personal budgets, the first step in that direction would be calculate one’s average income on a monthly basis. One of the important aspects spoken about in this article is that only fixed earnings such as monthly paychecks, royalties, alimony or other legal settlements should be taken into account. The author also highlights the fact that by keeping a track record of one’s income helps in making it easier when it comes to creating budgets. 3. CNN Money.

10 Steps to Making a Financial Budget. Web. May 2014 www.money.cnn.com/magazines/moneymag/money101/lesson2The article highlights the fact that though budgets are considered a necessary for everyone, it is important that they are well maintained and updated on a regular basis. It also explains the three main steps necessary for maintaining a budget and they are as follows – 1) Identifying expenditure, 2) Evaluating current expenditure, and 3) Maintaining a regular track record of all the expenses.

This article is particularly useful for those in the field of finance because it gives many important tips on budget maintenance.4. Jim Riley. (2012) Budgeting – Introduction to Budgets. Web. May 2014. www.tutor2u.net/business/accounts/introduction-to-budgets.htmIn this article the author explains the necessity of maintaining budgets saying that it helps to keep a control on one’s finances.‎ Budgets are used for various purposes such as – Controlling income and expenditure, providing direction, Motivating employees, Improving efficiency, Establishing the company’s priorities and for Monitoring employees performance.

In this context, the managers play a pivotal role in maintaining proper communication between the employers and employees and lay down the plan of action based on the budget given. This article was very useful as it had many guiding principles that help to keep finances of any kind under control. 5. Jeremy Vohwinkle. Everything You Need to Know About Budgeting. Web. 2014.www.financialplan.about.comThe article explains good budgeting is the basic foundation for any financial plan. It also states that it is not about restricting expenditure or doing away with entertainment, but budgeting is important for us to keep our finances on the right track so we know what we spend and what is surplus.

This article is very useful as it enlightens us on the importance of budgeting even if we feel our finances are in good order because at times we could uncover a hidden cash flow which could further help us achieve our financial goals.6. Dave Ramsey. How to Budget an Irregular Income. Web. May 2014. www.daveramsey.com/The article speaks of irregular income and how to streamline it and frame a budget. The article states that if a budget is irregular, one needs to make a priority list of expenditure by way of importance; so one can fulfill these goals one by one.

The author explains that once the priority list is made, each on the list can be satisfied according to its importance. If a few items on the list cannot be fulfilled, then it should be carried over to the next month’s expenditure. This particular article is quite useful to people receiving irregular salaries.7. Money Management International. Make a Personal Budget and Keep Track of Spending. Web, May 2014. http://www.moneymanagement.org/Budgeting-Tools/ This article is all about spending and budgeting ones own money so over expenditure does not occur.

Keeping a close watch on one’s own finances helps to make us more responsible and guides us towards saving. The article also speaks about the major categories, which could help to keep track of our finances, such as housing, Insurances, basic necessities such as food, clothing etc. and other utilities. The author explains that after budgeting the expenditure, it is necessary to set aside some money as savings too. This article is very useful to people who are new to budgeting their finances as it helps to give them clarity on the process.1) Leonard W.

Vona: Fraud Risk Assessment: Building a Fraud Audit Program: unabridged John Wiley & Sons, 2012, 224 pages2) Abrams, Rhonda M, and Julie Vallone. Business Plan in a Day: Get It Done Right, Get It Done Fast. Palo Alto, Calif: The Planning Shop, 2005. Print.3) Beeton, . Mrs. Beetons Household Management. Ware, Hertfordshire: Wordsworth Editions, 2009. Print.4) Lewis, Kristen, and Sarah Burd-Sharps. The Measure of America 2010-2011: Mapping Risks and Resilience. New York: A joint publication of the Social Science Research Council and New York University Press, 2010.

Internet resource.5) Taylor, Lester D, Hendrik S. Houthakker, and Hendrik S. Houthakker. Consumer Demand in the United States: Prices, Income, and Consumption Behavior. New York: Springer, 2010. Print.6) Vo, Lam Thuy, and Jacob Goldstein. "What America Buys." NPR. NPR, n.d. 7) Brown, Jeffrey. "IRAs Provide Universal Retirement Plan Access." Forbes. Forbes Magazine, 28 Apr. 2014. Web. 05 May 2014.8) "News Release: Personal Income and Outlays." News Release: Personal Income and Outlays. N.p., n.d. 9) Miller, G T, and Scott Spoolman.

Living in the Environment: Principles, Connections, and Solutions. Belmont, CA: Thomson Brooks/Cole, 2009. Print 10）UNDERSTANDING EXTRA EXPENSEWilliam N. Erickson and Alexander G. HenlinTort Trial & Insurance Practice Law Journal, Vol. 45, No. 1 (FALL 2009), pp. 29