What do you mean by real account

It becomes easier to do journal entry because of the rule of debit what comes in and credits what goes out as it clarifies on which side, i.E., on the debit side or the credit side is needed to be posted.
It provides the closing balance of the assets and the liabilities that are reported in the balance sheet and then carried forward in the next accounting year.

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Real Accounts, what do you mean by real account.

These are the legal, financial obligations that an organization owes to someone else. Examples of liabilities are loans payable, accounts payable, which include creditors, bills payable, etc.

Real accounts

Real accounts definition

Real accounts are the accounts that do not close its balances at the end of the financial year but the same retains and carries forward its closing balance from one accounting year to another and so on. In other words, the closing balance of these accounts in one accounting year becomes the opening balance of the succeeding accounting year. These accounts are also called as permanent accounts.

The golden rule that applies to a real account is that the organization should debit what is coming in the organization and credit the items that are going out of the organization.

Examples of real accounts

The following are the items that are present in the financial statement of the company that is considered to be examples.

#1 – assets

Any resource of the business organization which is owned by the organization and has a monetary value that can help to generate revenue and is also available to meet the liabilities of the organization are the assets of the business. The assets are further classified into two different categories which are as follows:

Tangible assets: the assets that can be seen or touched are considered tangible assets. The example of the tangible assets includes cash, furniture, inventory, building, machinery, etc.

Intangible assets: the different assets that cannot be felt or touched are considered as intangible assets. Examples of intangible assets include patents, goodwill or trademark, etc.

#2 – liabilities

These are the legal, financial obligations that an organization owes to someone else. Examples of liabilities are loans payable, accounts payable, which include creditors, bills payable, etc.

#3 – stockholder’s equity

Shareholders equity is the value of assets that are available for the shareholders of the company after the payment of the due liability. The examples of the same are retained earnings, common stock, etc.

Journal entries of real accounts

Let’s take the example of mr. X, who has a business in the purchase and sale of the different mobile phones in the area where its business is situated. In the business, he purchased furniture, having a value of $5,000 by paying cash for the same. Analyze the same considering the real accounts.

In the case of the above example, the journal entry for the transaction in the books of accounts of mr. X will be as follows:

Particulars	amount
furniture A/C …..Dr	$5,000
to cash A/C	$5,000

In the above journal entry, there is an interaction between two different types of assets, i.E., furniture and the cash account, which are classified as the real accounts. Firstly, the furniture account is debited as per the rule, i.E., debit what comes in, and the cash account is credited as per the rule credit what goes out. Both are reported in the balance sheet of the company.

Advantages

The advantages are as follows:

It becomes easier to do journal entry because of the rule of debit what comes in and credits what goes out as it clarifies on which side, i.E., on the debit side or the credit side is needed to be posted.

It provides the closing balance of the assets and the liabilities that are reported in the balance sheet and then carried forward in the next accounting year.

Disadvantages

The disadvantages are as follows:

If there is an error in the closing balance of the real accounts in any accounting year, then in the next accounting year also the same error gets carried forward. It happens as the closing balance of one accounting year is the opening balance of the succeeding accounting year.

Important points

The different important points are as follows:

These accounts are shown on the balance sheet of the organization, which reports the stakeholder’s equity, liabilities, and the assets of the business.

The word ‘real’ here refers to the permanent and perpetual nature of these accounts. These accounts remain active from the beginning of the business until its end.

The golden rule that is applicable is that the organization should debit what is coming in the organization and credit the items that are going out of the organization.

Conclusion

Real accounts, also known as the permanent accounts, are the accounts balances that are carried from one financial year to another accounting year. I.E., the closing balance in one accounting year of the company becomes the opening balance of the succeeding accounting year in its balance sheet. Examples include the assets, liabilities, and the stockholder’s equity. It remains active from the beginning of the business until its end. It is possible to have a temporary zero balance in some of these accounts.

Real accounts vs. Nominal accounts: definition, differences & examples

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0:01 classification

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Rebekiah has taught college accounting and has a master's in both management and business.

Classification

Do you remember studying science in school? I certainly do. One of the things that I remember most is doing classification on different objects. It amazed me that a human wasn't just a human. Broken down in a scientific way, a human's classification looks like this:

That's an awful lot of words to use to categorize just one person, isn't it? This multiple-level classification reminds me of accounts in accounting. You see, an account is not simply an account. An account can be further broken down into different classifications just like a human is. It may look something like this:

It doesn't matter what you call it, an account is still an account, just like a human is still a human. In this lesson, we're going to take a look at two of the ways that accounts can be classified: real or nominal.

Real accounts

A real account is an account that will always be a part of a company's books once opened. It's there from the very first business day to the very last business day. Most of the real accounts show up on a company's balance sheet. The balance sheet is the financial statement that lists all the accounts that a company has and their balances.

However, just because an account doesn't show up on the balance sheet doesn't mean that it's not a real account. If an account has a zero balance, it wouldn't need to be reported on the balance sheet. It's still a part of the chart of accounts, which is the official, informal list of all of a company's accounts, and available to be used if needed.

It's the real accounts that show the assets, liabilities and owner's equity in a company. I bet you'd like to have a few examples of real accounts, wouldn't you? I'd be glad to oblige. Cash, accounts receivable, accounts payable, notes payable and owner's equity are all real accounts that are found on the balance sheet.

Nominal accounts

A nominal account is an account that is used during an accounting period to summarize the cash coming into the company and being paid out of the company for that time period. Nominal accounts are reported on the income statement, which is the financial statement that tells how much money a company made or lost in a given time period. In a nutshell, nominal accounts are any revenue and expense accounts that a company has.

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At the end of each accounting period, nominal account balances are zeroed out so that these accounts can begin the next accounting period with a clean slate. The entire purpose of a nominal account is to track the revenue and expenses for a company so that the net profit or net loss for a specific period can be calculated. Examples of nominal accounts are service revenue, sales revenue, wages expense, utilities expense, supplies expense, and interest expense.

The difference

Now that you know what a real account is and what a nominal account is, what's the biggest difference between the two? The answer to that is relatively simple. It's timing.

The amount of time that balances accumulate in accounts helps people identify what is a real account and what is a nominal account. Real accounts have running balances, meaning that the balances in those accounts continually add up, while nominal accounts do not keep a running balance. Nominal account balances zero out at the end of each accounting period.

Lesson summary

In accounting, accounts are classified by several different names. Two of those classifications are real and nominal.

Real accounts, like cash, accounts receivable, accounts payable, notes payable, and owner's equity, are accounts that, once opened, are always a part of the company. Real accounts show up on a company's balance sheet, which is the financial statement that lists all the accounts that a company has and their balances. The balances of real accounts accrue over the lifetime of the company.

A nominal account is an account that is used during an accounting period to summarize the cash coming into a company and being paid out of the company but for just that time period. Nominal accounts are listed on a company's income statement, which is the financial statement that tells how much money a company made or lost in a given time period. All revenue and expense accounts are nominal accounts.

The major difference between these two types of accounts is that the balances of nominal accounts zero out at the end of each accounting period and do not accrue like the balances of real accounts.

Learning outcomes

Watch this video and prepare to do the following:

Indicate the various classifications of an account

Compare and contrast real and nominal accounts

Distinguish between a balance sheet, a chart of accounts and an income statement

What is real accounts and nominal account?

A real account is the branch of accounts that doesn’t close at the end of period or every year or else it is carried forward to the next year as the opening account balance of any company or business entity. In simple words, such account stayed open allowing companies to accumulate their balances and carry forward it to the next year which is every year during the lifetime or existence of the company or business entity.

What real account means?

Real account is reflection of current and future financial status of any company or business entity as the balances of the certain period i.E. A financial year are carried forward to the next financial year and it is a continuous process for the remaining life of company. The time period referred here as financial year is popularly known as accounting period.

It is not compulsory that balance of accounting period remains the same throughout the year as it changes with every transaction of company. Real accounts are prepared to give ease in management working as they can compare the ongoing accounts of the company with initial accounts or balances of the previous accounting year. Thus, with changing accounting year the balance of the ongoing financial year will become the initial balance for the next financial and the rest process is continued same as before every year.

Must read:- types of accounts involved in accounting system

What is nominal account?

Nominal accounts are referred as temporary ledger accounts that are prepared in very accounting year and also changes with every changing financial year. The balances of these ledger accounts are transferred or carried to permanent account i.E. Real account. Nominal account is prepared in general ledger with balance sheet and complied with income statements. The accounts that are prepared under temporary or nominal account are as follows:

Asset account– it includes cash, inventories, accounts receivables and properties i.E. Moveable and immovable.

Liability account– it includes accounts payable, company expenses, consumer deposit.

Shareholders equity account– it includes retained earnings and other comprehensive accounts related to stock.

What is the difference between real and nominal account?

Nominal accounts are referred as temporary account since, every accounting year a nominal account is prepared with the zero balance at initial stage and changes with transactions by the company. The balances of the nominal account is not carried forward to the next financial or the accounting period ad they are temporary account and their balances are transferred to real account.

The transaction involved in nominal account are mostly related to income statements which records revenue, expenses, gains and losses incurred by the company.

Whereas real accounts are referred as permanent accounts as their balances does not close with every accounting year but are carried forward to the next accounting period and changes as for the transaction by the company in that accounting period.

Real accounts are considered as balance sheet account as they record all the assets and liabilities own by the company during that accounting period. It doesn’t include transaction related to drawings by the proprietor as such transactions with their balances closes at the end of every year.

Read:- what is debit note and credit note and it’s important and difference?

Real account example

A, private limited company is a startup that manufacturers cars. On the commencement day its owner contributes following:

Cash- $30,000

Inventory- $25,000

Assets- $50,000

Whereas the company doesn’t own any liability. The balances after transaction in few months are as follows:

Revenue- $30,000

Cost of goods sold- $15,000

Rent- $5,000

Other expenses- $2000

The accounting period for every company starts on january 1 and ends on december 31st of every year.

At the end of every year the balances from the previous year initial year are transferred to next accounting year. Thus, the revenue, cost of good sold, rent and other expenses are carried forward to the next year as the opening balance of that accounting year.

The real account example about status clears the concept of functioning of real account by showing the opening and closing balance.

Therefore, real account are defined as general journal account that doesn’t close with the end of every accounting year.

An account liquidation occurs when the holdings of an account are sold off by the brokerage or investment firm where the account was created. In most cases, this is down to satisfy margin requirements. When you sign up for a margin account with a brokerage firm, you grant that the legal right to liquidate your holdings if you are unable to meet the account's requirements.

There are two main brokerage account types: cash accounts and margin accounts. A cash account only allows an investor to purchase securities up to the amount of the cash held in the account. For example, if an account has $10,000 in cash, the account holder will only be able to purchase a maximum of $10,000 worth of stock.

With cash accounts, a brokerage firm does not have the same ability to liquidate unless it is due to an external factor like a personal bankruptcy. A margin account, on the other hand, allows investors to borrow up to 50% of the purchase price of marginable investments (the exact amount varies depending on the investment). Said another way, investors can use margin to purchase potentially double the amount of marginable stocks than they could using cash.

Margin math

A typical requirement of a margin account is to maintain at least 25% equity, or your own money, of the total market value at any given point. For example, suppose you purchase $10,000 worth of stock with $5,000 of your own money and $5,000 of margin money. If the value of this position were to fall to $7,500, your equity position in the investment falls to $2,500 ($7,500 - $5,000), which represents 33% margin—above the 25% requirement.

However, if the value falls to $6,500, your equity in the position would be reduced to $1,500 ($6,500 - $5,000), which puts your margin at 23%, falling below the minimum margin requirement of 25%. If the account does fall below the minimum maintenance margin level, you will either have to add more money to the account to meet the margin call or your account will be liquidated in part or in full.

In most cases, your brokerage will issue a margin call advising you to add money to your account or close positions until your account reaches the 25% requirement. If you don't take appropriate action, your brokerage will take steps to close open positions until the requirement is met. They can do this without your approval and they may even charge you a commission for the trade. (see also: margin trading.)

What is real debrid: why you should use it for streaming and downloading

What is Real Debrid and why you should use it for streaming and downloading

Real debrid is a multi hoster service with many servers hosting user files and providing them at a lightning speeds, making a breeze the streaming, downloading or sharing large files. Learn more, by keep reading this article on what is real debrid and why you should use it for streaming and downloading…

Real debrid has become quite popular among the streaming community and especially among kodi users as it enhances the streaming experience. Today, we’ll explore this online service deeper to know what real debrid is, and why you should incorporate it in your streaming endeavors.

What is real debrid?

Real debrid is an unrestricted multi hoster that allows you to stream and download videos instantly at the best of your speeds. The multi hoster does this by providing high-quality links hosted on unrestricted servers to make the streaming experience as smooth as possible.

The multi hoster aggregates these links from a total of 56 supported hosts. These include hosts such as mega, data file, big4shared, filefactory, etc. Such hosts provide premium content, and most of them would usually require you to pay for a subscription. Real debrid simplifies the process of getting these links; even reduces the cost that you would have to incur to get such content.

Note: even though kodi provides users with many streaming links, most of these links are usually low quality; they are hosted on restricted servers. Beyond ISP speed throttling issues, this is why these streams suffer from buffering; hence the popularity of real debrid among kodi users.

Is real debrid legal?

Real debrid states that it is a legal service and that they do not display links to illegal files. However, they further continue and state that “we and our host could not be held responsible if you download this type of content through our services.”

Through this statement, real debrid absolves itself from any potential problems that you may face by using the service. The fact that they charge a monthly fee for premium access to alternative sources for blockbuster movies and shows means that a VPN is more important than it seems.

Further, you do not want to expose your identity and your activities; neither to your ISP nor to the various servers that you access. And especially if you use real debrid with kodi, you are bound to stream content that may be termed as illegal; believe me you’d better stay away from copyright trolls.

The best way to avoid all this mess is to use a VPN; the best VPN for real debrid is strongvpn . This is because first of all the VPN is fully compatible with real debrid (only a few vpns work with RD), its super-fast, and it keeps zero logs. This means that with strongvpn you’ll be able to stream privately and without lags, and you’ll also circumvent any ISP throttling.

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Why use real debrid?

If you love streaming movies, TV shows, documentaries, etc. Here are various reasons why you need to get a real debrid account.

Stream HD content on kodi without buffering

If you get real debrid, chances are that you are going to integrate it on your kodi. This is because kodi is arguably the most popular streaming software; this is thanks to its great functionality and the 1,000+ kodi addons available.

If you have installed some of the best kodi addons like exodus redux or incursion, you will have noticed that you can watch almost any title that you want. However, most of the streams you get are not usually HD, and the HD ones usually have lots of buffering. This happens because those streams are free, and they are hosted on servers that restrict your bandwidth. Further, they are being used by many users all over the world, and this brings performance down.

With real debrird premium, you will get new links (marked “RD”) that are not available to other users. With RD links, you can stream with speeds of up to 1000 mbps, which is more than you need. You will therefore have said goodbye to buffering.

Download files easily

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Quickly convert torrents to direct links

Some of the best files are only available on torrent sites, but you won’t have to worry about that with real debrid. The multihoster provides a page where you can upload .Torrent files; you can even paste magnet links from online and convert them to regular files.

Once the file is converted, you will then get a direct link which you can use to download the file. In case the file had been converted by another user, it will be made available instantly as it was already in the real debrid seed box.

Can I test real debrid for free?

Real debrid used to provide access for free accounts during certain hours of the day, but this has been scrapped in 2019. The unrestricted multihoster now states that “our service is not free because it costs us a lot of money. Quality is our priority, we must ensure a maximum download speed even during peak hours through our various servers to satisfy everyone. Hoster’s premium accounts or traffic agreements can not be paid with advertising.”

This means that to get a taste of real debrid’s quality streams and downloads, you need to pay for an account. If you want to test the service you can choose the cheapest plan by a value as low as 3 euros (USD 3.38) and use it for 15 days long.

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15 days: 3 euros (roughly USD 3.38). You get 150 fidelity points

30 days: 4 euros (roughly USD 4.51). You get 2000 fidelity points

90 days: 9 euros (roughly USD 10.14). You get 450 fidelity points

180 days: 16 euros (roughly USD 18.02). You get 800 fidelity points

Note: the USD rates given above were calculated at the time of writing, and so the values may vary.

Fidelity points can be redeemed to gain additional access. For example, with 1,000 fidelity points, you can get additional 1 month premium access.

From there, you will be able to enjoy:

High-speed downloads of up to 1000mbps

HTML5 streaming (no plugin needed)

No waiting times or advertising

Firefox, chrome and jdownloader plugins

DLC, RSDF and CCF decrypter

Parallel downloads (2)

Unlimited traffic (4)

Support for download accelerators

Multiple hosters on a single website (3)

AES secure downloads

Wrap up

Real debrid is one of the best ways to enhance your streaming experience. With it, you won’t have to worry about low-quality streams or buffering issues. However, just like with every other streaming, make sure you use a reliable VPN like strongvpnto protect you and your activities and beat other challenges like ISP throttling.

Hope this post on what is real debrid: why you should use it for streaming and downloading, have helped you enjoy HD movies and transfer large files quickly.

Legal disclaimer: bestdroidplayer.Com is in no way affiliated to any streaming application, apk or its addons. Also, we are not associated with the brands here shown as the references are only informative. Bestdroidplayer.Com does not verify the legality or security of any apps, apks, addons or services mentioned on this site. We DO NOT HOST any copyright-protected software or streams and we DO NOT broadcast or provide any copyright-protected streams on this website - the content here provided is only informational and it should be used only to access content that is not protected by copyright. We strongly advise our readers to avoid piracy at all costs, if you decide to do so, it is your responsibility - we are not responsible for any of your activities.
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What does ‘1K’ or ‘1M’ mean? Full information

Blogs seo

Oct 16, 2019 · 3 min read

On facebook, twitter and youtube, you must have seen 1K, 2K, 10K or 1M, 10M written. Do you know what this ‘K’ or ‘M’ behind the number means? If not, you will get full information about it in this post. In this article, we will know about it in detail, so let’s know why 1K means a thousand?

K and M world is used for likes, comments, share, retweet, subscribes count on social media facebook, youtube.

Many new people a re not aware of this and do not know what “K” means and why it is used.

Every user running the internet faces this. If you also have this thing in your mind and you do not know about them then this post is for you.

On the internet, 1K is used to represent 1 thousand and 10K is used to represent 10 thousand, similarly, 1M is used to represent 1 million.

1M = 1 million (ie 10 lakh)

You must have understood this thing easily because “M” means million, so “M” would be used for million.

But you must be thinking that thousand is called thousand in english, so why T is not used for this.

Actually, ‘K’ denotes kilo and kilo in greek means 1,000. Like,

1 kilograms = 1 thousand grams

1 kilometer = 1 thousand meter

Therefore, “K” is used for thousand. Like,

1K = 1,000 (one thousand)

10K = 10,000 (ten thousand)

Meaning the “K” that is placed behind the numbers means a thousand, no matter what the number is. Scientists in france named “K” for the unit containing thousand.

The word kilo originated from the greek language khilioi.

People are always looking for shortcuts. That is why we write “1K” instead of 1,000 and “1M” instead of 1 million. This also saves space and takes less time.

“K” and “M” are used to like, comment, share and subscribe on youtube on social media facebook, twitter.

The advantage of this is that there is no need to see how many “0” are behind the number, the viewer very quickly understands how much it is written.

Meaning that it has made counting easier. So now they are being used the most on social media. Even now people have started using them in typing.

I hope you like this information, if yes then do share it with your friends.

What does ‘1K’ or ‘1M’ mean? Full information I have told you through this post and hope that you would have liked the post, I also hope that you will read all our posts too, so if you like all our posts then you comment on us so that we can make more improvements in our writing skill.

What is real debrid: why you should use it for streaming and downloading

What is real debrid?

Is real debrid legal?

We have a special discount for bestdroidplayer reader to help you get started.

Why use real debrid?

If you love streaming movies, TV shows, documentaries, etc. Here are various reasons why you need to get a real debrid account.

Stream HD content on kodi without buffering

Download files easily

Quickly convert torrents to direct links

Can I test real debrid for free?

Here are the plans that you can choose from:

15 days: 3 euros (roughly USD 3.38). You get 150 fidelity points

30 days: 4 euros (roughly USD 4.51). You get 2000 fidelity points

90 days: 9 euros (roughly USD 10.14). You get 450 fidelity points

180 days: 16 euros (roughly USD 18.02). You get 800 fidelity points

Note: the USD rates given above were calculated at the time of writing, and so the values may vary.

Fidelity points can be redeemed to gain additional access. For example, with 1,000 fidelity points, you can get additional 1 month premium access.

From there, you will be able to enjoy:

High-speed downloads of up to 1000mbps

HTML5 streaming (no plugin needed)

No waiting times or advertising

Firefox, chrome and jdownloader plugins

DLC, RSDF and CCF decrypter

Parallel downloads (2)

Unlimited traffic (4)

Support for download accelerators

Multiple hosters on a single website (3)

AES secure downloads

Wrap up

Hope this post on what is real debrid: why you should use it for streaming and downloading, have helped you enjoy HD movies and transfer large files quickly.

Reader interactions

Internet trolling: how do you spot a real troll?

How internet trolling affects us all online

If you consider yourself to be pretty active on social media or other types of online communities, you may have experienced what many savvy internet users call "internet trolls" or “being trolled.” being trolled, or the act of trolling, is something we all have to deal with increasingly as the internet becomes more social.

An illustration of a troll on a laptop monitor

What is internet trolling?

In simple terms, trolling is when someone comments or responds to something you post, usually in a confrontational way that is designed to garner a strong, emotional reaction. Although many people use the term in contexts where a sense of humor is appreciated, the truth is that internet trolling can get pretty nasty and isn't always a laughing matter.

The urban dictionary has a bunch of definitions under the term “trolling,” but the first one that pops up seems to define it as simply as possible. So, according to the urban dictionary’s top-rated definition for “trolling,” it can be defined as:

Those who aren’t quite as familiar with the internet slang definition of “troll” or “trolling” might automatically think of the mythical creature from scandinavian folklore. The mythological troll is known to be an ugly, dirty, angry creature that lives in dark places, like caves or underneath bridges, waiting to snatch up anything that passed by for a quick meal.

The internet troll is a modern version of the mythological version. They hide behind their computer screens, and actively go out of their way to cause trouble on the internet. Like the mythological troll, the internet troll is angry and disruptive in every possible way — often for no real reason at all.

Where the worst trolling happens online

You can find trolls lurking around almost every corner of the social web. Here are some specific places that are well known to attract trolls.

Youtube video comments: youtube is notorious for having some of the worst comments of all time. Some people even call it "the trailer park of the internet.” go and have a look through the comments of any popular video, and you’re bound to find some of the worst comments ever. The more views and comments a video has, the more troll comments it’ll probably have as well.

Blog comments: on some popular blogs and news sites that have comments enabled, you can sometimes find trolls cursing, name-calling and just causing trouble for the heck of it. This is particularly true for blogs that cover controversial topics or for the ones that tend to rack up a lot of comments from people who want to share their opinions with the world.

Forums: forums are made for discussing topics with like-minded people, but every once in a while, a troll will come in and start spewing negative words all over the place. If forum moderators don't ban them, other members will often respond and before you know it, the thread gets thrown completely off topic and becomes nothing but one big pointless argument.

Email: there are lots trolls who actively take the time and energy to write up horrible email messages in response to people they disagree with, were offended by, or just get a kick out of picking apart for no significant reason at all.

Facebook, twitter, reddit, instagram, tumblr or practically any social networking site: now that almost anyone can comment on a status update, reply to a tweet, converse in a community thread or send an anonymous question, trolling is absolutely everywhere that people can use to interact. Instagram is especially bad because it's a very public platform that people use to post photos of themselves — inviting everyone and anyone to judge their appearances in the comment section.

Anonymous social networks:anonymous social networks basically act as an invitation to be nasty, because users don't have to worry about their identities being tied to their bad behavior. They can take their anger or hatred out without suffering the consequences because they can hide behind a faceless, nameless user account.

Big brands on facebook, celebrities on twitter and tumblr teens with lots of followers face trolling every day. Unfortunately, as the web becomes more social and people can access social sites wherever they are from their smartphones, trolling (and even cyberbullying) will continue to be a problem.

Why do people troll on the internet?

Every internet troll has a different backstory and therefore different reasons for feeling the need to troll a community or an individual on the internet. They may feel depressed, attention-starved, angry, sad, jealous, narcissistic or some other emotion they may not be entirely conscious of that's influencing their online behavior.

What makes trolling so easy is that anyone can do it, and it can be done from a safe, isolated place as opposed to interacting with others in person. Trolls can hide behind their shiny computers, screen names and avatars when the go out trolling for trouble, and after they’re all done, they can carry on with their real lives without facing any real consequences. Trolling makes a lot of cowardly people feel stronger.

Dealing with trolls

If a troll tries to provoke you, just ignore them. They’re not worth your time or emotional distress. Try not to take anything personally and remind yourself that their bad behavior does not change who you are.

Remember that a person who seems like a troll is actually the one suffering in some way and is trying to distract themselves and make themselves feel better by taking it out on you. If you can, try to have a good laugh and think about how sad it is that people actually feel the need to insult complete strangers on the internet.

If you're feeling strong enough, you might even consider responding to them with kindness by complimenting something about them (such as their profile picture, their username, etc). This is the last thing they'll expect from you, and while you'll have to risk being trolled again, there's always a chance that your unexpected kindness could move them in a way that changes their behavior for the better.

When a key account is not a key account (and what to do about it)

Sue barrettfollow

Ethical & sustainable business growth strategist, sales systems specialist, educator, writer & change agent for better business. Tomorrow belongs to those who can hear it coming

So you have the title ‘key account manager’ and you are responsible for one or two ‘key accounts’. With the best of intentions you seek to establish shared goals and plans where both parties (supplier and client) will benefit only to find that your ‘key accounts’ do not think the same way as you and do not share the same intentions.

If this is your current dilemma as a key account manager you may find that you do not have key accounts at all.

Welcome to the world of confusion when it comes to the definitions of things like key accounts, prospecting, etc. The business world is littered with all manner of definitions, just take the terms strategy or strategic and you see what I mean, but let’s not go there.

Instead let’s take a look at different types of accounts, especially the large accounts which can take up a lot of time and money and look at how we need to work with them to ensure the best return on our sales/supplier investment.

Key account definition:

A key account is an account which makes sustainably repeat purchases from the supplier.

Both the supplier and buying organisations work with a philosophy based on forming partnerships of mutual benefit and collaboration.

The client (buyer) places a premium on having a preferred supplier relationship that provides them with easy access to innovation, new ideas, keen pricing and superior service.

In turn the client (buyer) is prepared to pay a premium, recognising that the higher level of service and commitment they expect from their preferred suppliers comes at a cost.

The relationship between buyer and supplier in a key account is one of mutual dependence, with both working towards achieving a win-win outcome.

Key accounts are profitable.

Key accounts are about mutual respect

Key accounts are about reciprocity*

A key account does not have to be a large account.

Strategic account definition:

A strategic account is an account that is critically important to the supplier for any of a variety of reasons i.E.

The supplier wants to keep the account out of hands of other suppliers

The supplier wants to grow market share quickly or gain a position in a market

The supplier needs continuous production or high production volumes to achieve economies of scale

The supplier wants to disadvantage their competitors

A strategic account is not necessarily profitable and doesn’t always provide continuous or repetitive business. The client can often have a policy of shopping around.

A strategic account does not guarantee easy access to senior executives and doesn’t usually foster transparency or loyalty.

A strategic account does not usually care about the supplier relationships.

A key account can be a strategic account as long as criteria for the key account definition exist, otherwise it is just a strategic account.

Major account definition:

A major account usually makes a one off big purchase or very infrequent purchases i.E. A government buying a massive IT system once every 10-15 years.

Major accounts are seldom key accounts.

Why is the distinction important?

Because it can cost you and your business a whole lot in excessive time, money, effort, etc. If you get it wrong. When we started working with an australian FMCG client recently, they had determined (prior to our arrival) that they had 35 key accounts. When we helped them redefine their customer structure it turned out that they had 33 strategic accounts and only 2 key accounts which completely changed how they worked with their clients. For instance, coles and woolworths became strategic accounts because neither of those businesses were interested in key account relationships with this FMCG supplier thus changing the nature and scope of the decisions made at the supplier level.

And as many thousands of auto parts manufactures around the world, including australia, would like to believe that the big motor car companies are key accounts, in truth, the majority only have strategic accounts which is very dangerous as we are seeing play out now. For instance – the ford motor company has cut its supply chain dramatically, cutting out 40,000 suppliers from around the world in order to improve its own supply chain, with little consideration for the impact that would have on its suppliers. Ford only looked at their decision from ford’s point of view. That is their prerogative to do so and if the auto parts suppliers thought they had a key account relationship with ford they were only fooling themselves. You can see the dilemma when it comes to creating your go-to-market sales strategies and account plans.

So what to do…

When you find yourself in the role of key account manager you need to define the nature of your accounts. Determine if they are key, strategic or major by finding out what the client organisation’s philosophy is to partnering with your business. Once you know how they want to work with you then you are in a position to plan your approach in the manner that best serves your business and the client’s in the clear light of day.

So don’t fool yourself, no matter how much you want a key account relationship, if they don’t then it won’t happen. And don’t think for a minute that being customer centric means giving into clients at your expense. That is not good business either. Good business is made on sound, evidenced based decisions with clear expectations in place. Whether you are dealing with a key, strategic or major account you can set the guidelines and never be a victim.

A key account must provide sustainable, repetitive business where a fair exchange of value is established and articulated. With a strategic account you must be brave and clear minded, and negotiate your way to the best outcome for your business whilst not putting all your eggs in one basket.

*reciprocity in social psychology refers to responding to a positive action with another positive action, rewarding kind actions. As a social construct, reciprocity means that in response to friendly actions, people are frequently much nicer and much more cooperative than predicted by the self-interest model; conversely, in response to hostile actions they are frequently much nastier and even brutal.

People categorize an action as kind by viewing its consequences and also by the person’s fundamental intentions. Even if the consequences are the same, underlying intentions can cause an action to be reciprocated differently. [2] reciprocity is considered as a strong determining factor of human behavior. Positive reciprocal actions differ from altruistic actions as the former only follow from other positive actions and they differ from social gift giving in that those are not actions taken with the hope or expectation of future positive responses. The focus of reciprocity is centered more on trading favors than making a negotiation or a contract with another person. With reciprocity, a small favor can produce a sense of obligation to a larger return favor. This feeling of obligation allows an action to be reciprocated with another action. Because there is a sense of future obligation with reciprocity it can help to develop and continue relationships with people. Reciprocity works because from a young age people are taught to return favors and to disregard this teaching will lead to the social stigma of being an ingrate.

Reciprocity as a form of social obligation calling for future acts kindness can be seen in the japanese word for thank you, “sumimasen,” which means “this will not end” [3] from wikipedia

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