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Whether you are a experienced or novice collector, “The Convention” is the time to shop and mingle with other collectors, talk with comic book dealers about the hottest news, or meet comic and entertainment guests. Its enough to make your eyes and brain explode!

When I first attending my first convention my mind went every where, along with my eyes, there was so much I wanted to buy, talk about, and do that my brain was swimming, by the time I left the convention I was broke and exhausted from all the information I received.

While I had a great time it was just overwhelming, so here is a small Survival Guide To Comic Book Conventions that can be helpful to the new comic collector.

Budget

Conventions And Comic Book Budget - Remember to factor your spending at a convention with your regular comic book buying during the month, remember you want to have money to buy your regular purchases from your comic book store, or have enough to buy your subscriptions at the end of the month.

Its a good idea to start saving at least a month or at least two weeks before the convention to ensure that you can pay for both convention books and your store books.

Spending - Before going to a convention determine how much money you want to spend, check the price guides for prices and also check with the convention website to see if their is an admission fee, also factor in food and drinks, many conventions and/or convention centers will offer food, these are usually not cheap so put that in your convention budget as well

if possible leave your bank debit card behind, this could be a temptation to use and it could put you over budget, if you can not leave it at home give it to a friend or family member to keep it safe.

Shop Around

Be sure to make a couple of rounds of the convention room first, checkout what dealers are there and look at the prices of the books you are looking for, never buy the first book you see on your list, take your time and get a feel for the convention, if this is your first convention look at the $1.00 and 1/2 boxes you could find some bargains there.

Admission

Before going to the convention find out if the convention has admission, if there is a fee be sure to factor that into your convention budget, look for online coupons located on the convention website.

Guest Attendance - If you are going to a convention to meet media and comic book guests be sure to check the convention website first, make sure there are guests you want to meet, and also check and see if guests have canceled their appearance

Dealer Attendance - Also see how many dealers will be attending you do not want to arrive with a low dealer turn out, this could not only be a waste of your time but also money.

As always look for those FREE admission conventions!

The Art Of Haggling

Don’t be afraid to haggle or bargain with comic book dealers, they understand that customers are working on a budget and are willing to work with customers on making deals.

Preparing To Haggle - Before leaving for a convention make a list of books that you are searching for, next to the title write a price, this will help kin keep track of cost but it will also give you a reference of what books are going for, and also helps the comic book dealer know what you are willing to spend.

Make A Offer - Don’t be afraid to make a offer especially if you have more than one issue, the worst a dealer can say is “No” most times he will work with you, however don’t walk away right away if the dealer does reject your offer, see if he will work worth you or ask “What is the best price he can offer?”

Take Time And Think - If you need time to think about a book, you can ask a dealer to put the book behind the table, but you should always return to the comic book dealer even if you purchased the book elsewhere, remember that the dealer did this as a courtesy for you.

if you do not return to inform the dealer you do not want the issue, the dealer stands a good chance of loosing money. If you do not return it could strain the relationship between you and the dealer in the future and they may be unwilling to haggle or hold books for you in the future.

If you do ask for a dealer to hold the book, its best to return with in 15 to 20 minutes, this is plenty of time too look around and compare prices and think about the purchase.

Guest Lines

Some conventions have comic book and media guests, these lines can get long and boring, to avoid this make time to get in line early, I would give yourself at least 10 to 15 minutes to get to the signing area or booth, also be sure to check the schedule.

Guest Tickets - Sometimes tickets are provided for a guest line, so be sure to get those early or conventions will provide a “Speed or Express” pass, these allow you to be first in line.

Signings - If you have materials to be signed be sure to have them prepared, this helps the guest sign the materials quicker, and keeps the line moving, and be sure to speak to the guest during and/or after all they want to talk to you and hear what you think about the subject.

Artwork And Sketches - Want a artist to draw something? Always ask in advance if they are doing artwork, and ask about cost, however some artists will do a quick sketch for free or very little money depending on the line.

Bring Your Books - If you want comics signed be sure to bring copies with you, while most dealers will have hot books to get signed, the books on many occasions will be over priced, again get updates from the convention website to see who will be there and start shopping for the books you want to have signed.

Guest Cancellations - Guests can cancel or leave early, if this occurs without your knowledge or you are not notified by the convention staff, then you may ask for your money back if you came for the sole purpose to see that guest, in a few instances I have seen refunds but do not expect a refund often.

Making Contacts

When visiting with comic dealers like myself, always talk to the dealer pick their brains and get their insight on books and what to be to watch for in the future, also even if you do not buy anything from the dealer get their business card, this way if you need anything you will have a recourse to dealers to contact, and when you need that hard to find book you will have the advantage.

Comic Book Conventions And People With Disabilities

If you are a person with disabilities and attending a comic book convention, this can be a little more nerve racking for you, because of the crowds and chaos going on, being a person with disabilities I thought these tips could help.

Convention Access

If you are attending a convention in town always call the location to make sure they have handicapped parking, ramps and bathroom facilities, while thing have changed over the years its still a good idea to inquire about disability access.

Money Storage

Conventions are crowded and lines around a table or booth can quickly grow, be sure to have your money ready and if you can invest in a nice fanny pouch or something to carry your cash and other things.

Assistance

If you can, bring a friend or relative with you if you need help carrying your purchases, or if you can get a nice and sturdy tote bag to put your stuff in.

Convention Staff Help - Conventions may provide you with an attendant to help you, you may want to contact the convention promoter prior to going or ask the head of convention security or convention staff, this is still a new concept in conventions so do not be disappointed if it does not exist at the convention you are attending.

Communicating With Dealers

Ask For Help From Dealers - Comic Book Dealers are some of the most attentive people in the world, comic book dealers will assist you and aide you the best that they can, in many cases you can hand them your list and they will go through boxes for you or let you know immediately if they have the issue.

However you will need to ask for assistance on occasion, so be sure to speak up, the dealer will be happy to assist you in your searches.

Conventions can become very busy, if a table or booth looks crowded make a few rounds around the dealer room and come back to the dealer.

Guest lines

If you want materials signed again be sure to be in line early and have your materials ready to be signed, but if you speak with the convention staff or someone affiliated with the artist in most cases they will allow you to come to the front, this helps you and keeps the line moving smoothly.

If you have more than one guest on your list be sure to inform the convention staff of all the guests so that they can help you schedule your visits.

Always thank the the guest and the staff for their help, and be sure to talk with both parties, this will help them to remember you in the future.

Asking For Help

This is a touchy subject for some people, but we all need help, if you find yourself in a situation like needing a bottle, can or bag opened ask for help, there is no need to go thirsty or hungry at a convention, so grab a friendly face and just ask you will be pleasantly surprised.

Patience is the key

Because of the crowds, the noise and lets face it you may encounter a little bit of bumping and their are always those few rude people, just take a deep breath and be patient, if you feel that its a bit too crowded go out of the convention room and get some air, if you use a walking device ask the staff for a chair or a place to sit, if your in a wheelchair device go park, and then go back in.

Just be as patient with yourself and the crowds as you can, and remember to have fun.

These are just a few tips for convention goers, if you are new you will get the feel for it in no time, but until then listen and learn and watch your budget.

Thank you,
Jeff Hughes
http://www.Comicscoop.com and http://www.MailboxHeroes.com

(1) Relevance

The convention of relevance emphasizes the fact that only such information should be made available by accounting as is relevant and useful for achieving its objectives. For example, business is interested in knowing as to what has been total labor cost? It is not interested in knowing how much employees spend and what they save.

(2) Objectivity

The convention of objectivity emphasizes that accounting information should be measured and expressed by the standards which are commonly acceptable. For example, stock of goods lying unsold at the end of the year should be valued as its cost price not at a higher price even if it is likely to be sold at higher price in future. Reason is that no one can be sure about the price which will prevail in future.

(3) Feasibility

The convention of feasibility emphasizes that the time, labor and cost of analyzing accounting information should be compared vis-à-vis benefit arising out of it. For example, the cost of ‘oiling and greasing’ the machinery is so small that its break-up per unit produced will be meaningless and will amount to wastage of labor and time of the accounting staff.

Accounting Concepts

(1) Materiality

It refers to the relative importance of an item or event. Those who make accounting decisions continually confront the need to make judgments regarding materiality. Is this item large enough for users of the information to be influenced by it? The essence of the materiality concept is : the omission or misstatement of an item is material if, in the light of surrounding circumstances, the magnitude of the item is such that it is probable that the judgment of a reasonable person relying on the report would have been changed or influenced by the inclusion or correction of the item.

(2) Accounting period

Though accounting practice believes in continuing entity concept i.e. life of the business is perpetual but still it has to report the ‘results of the activity undertaken in specific period (normally one year). Thus accounting attempts to present the gains or losses earned or suffered by the business during the period under review. Normally, it is the calendar year (1st January to 31st December) but in other cases it may be financial year (1st April to 31st March) or any other period depending upon the convenience of the business or as per the business practices in country concerned.

Due to this concept it is necessary to take into account during the accounting period, all items of revenue and expenses accruing on the date of the accounting year. The problem confronting this concept is that proper allocation should be made between capital and revenue expenditure. Otherwise the results disclosed by the financial statements will be affected.

(3) Realization

This concept emphasizes that profit should be considered only when realized. The question is at what stage profit should be deemed to have accrued? Whether at the time of receiving the order or at the time of execution of the order or at the time of receiving the cash. For answering this question the accounting is in conformity with the law (Sales of Goods Act) and recognizes the principle of law i.e. the revenue is earned only when the goods are transferred. It means that profit is deemed to have accrued when ‘property in goods passes to the buyer’ viz. when sales are affected.

(4) Matching

Though the business is a continuous affair yet its continuity is artificially split into several accounting years for determining its periodic results. This profit is the measure of the economic performance of a concern and as such it increases proprietor’s equity. Since profit is an excess of revenue over expenditure it becomes necessary to bring together all revenues and expenses relating to the period under review. The realization and accrual concepts are essentially derived from the need of matching expenses with revenues earned during the accounting period. The earnings and expenses shown in an income statement must both refer to the same goods transferred or services rendered during the accounting period. The matching concept requires that expenses should be matched to the revenues of the appropriate accounting period. So we must determine the revenue earned during a particular accounting period and the expenses incurred to earn these revenues.

(5) Entity

According to this concept, the task of measuring income and wealth is undertaken by accounting, for an identifiable Unit or Entity: The unit or entity so identified is treated different and distinct from its owners or contributors. In law the distinction between owners and the business is drawn only in the case of joint stock companies but in accounting this distinction is made in the case of sole proprietor and partnership firm as well. For example, goods used from the stock of the business for business purposes are treated as a business expenditure but similar goods used by the proprietor i.e. owner for his personal use are treated as his drawings. Such distinction between the owner and the business unit has helped accounting in reporting profitability more objectively and fairly. It has also led to the development of “responsibility accounting” which enables us to find out the profitability of even the different sub-units of the main business.

(6) Stable Monetary Unit

Accounting presumes that the purchasing power of monetary unit, say Rupee, remains the same throughout. For example, the intrinsic worth of one Rupee is same and equal in the year 1,800 and 2,000 thus ignoring the effect of rising or falling purchasing power of monetary unit due to deflation or inflation. In spite of the fact that the assumption is unreal and the practice of ignoring changes in the value of money is now being extensively questioned, still the alternatives suggested to incorporate the changing value of money in accounting statements viz., current purchasing power method (CPP) and current cost accounting method (CCA) are in evolutionary stage. Therefore, for the time being we have to be content with the ’stable monetary unit’ concept.

(7) Cost

This concept is closely related to the going concern concept. According to this, an asset is ordinarily recorded in the books at the price at which it was acquired i.e. at its cost price. This ‘cost’ serves the basis for the accounting of this asset during the subsequent period. This’ cost’ should not be confused with ‘value’.

It must be remembered that as the real worth of the assets changes from time to time, it does not mean that the value of such an assets is wrongly recorded in the books. The book value of the assets as recorded do not reflect their real value. They do not signify that the values noted therein are the values for which they can be sold. Though the assets are recorded in the books at cost, in course of time, they become reduced in value on account of depreciation charges. In certain cases, only the assets like ‘goodwill’ when paid for will appear in the books at cost and when nothing is paid for, it will not appear even though this asset exists on name and fame created by a concern.

Therefore, the values attached to the assets in the balance sheet and the net income as shown in the Profit and Loss account cannot be said to reflect the correct measurement of the financial position of an undertaking, as they do not have any relation to the market value of the assets or their replacement values. This idea that the transactions should be recorded at cost rather than at a subjective or arbitrary value is known as Cost Concept. With the passage of time, the market value of fixed assets like land and buildings vary greatly from their cost.

These changes or variations in the value are generally ignored by the accountants and they continue to value them in the balance sheet at historical cost. The principle of valuing the fixed assets at their cost and not at market value is the underlying principle in cost concept. According to them, the current values alone will fairly represent the cost to the entity.

The cost principle is based on the principle of objectivity. The supporters of this method argue so long as the users of the financial statements have confidence in the statements, there is no necessity to change this method.

(8) Conservatism

This concept emphasizes that profit should never be overstated or anticipated. Traditionally, accounting follows the rule “anticipate no profit and provide for all possible losses. For example, the closing stock is valued at cost price or market price, whichever is lower. The effect of the above is that in case market price has come down then provide for the ‘anticipated loss’ but if the market price has gone up then ignore the ‘anticipated profits’.

Critics point out that conservation to an excess degree will result in the creation of secret reserve. This will be quite contrary to the doctrine of disclosure. However, conservatism to a reasonable degree may not come in for criticism.

Accounting Equation

Dual concept may be stated as “for every debit, there is a credit.” Every transaction should have two sided effect to the extent of same amount. This concept has resulted in Accounting Equation which states that at any point of time the assets of any entity must be equal (in monetary terms) to the total of owner’s equity and outsider’s liabilities. This may be expressed in the form of equation:

A-L = P

where

A stands for assets of the entity;

L stands for liabilities (outsider’s claims) of the entity; and

P stands for Proprietor’s claim (Capital) on the entity.

(The form of presentation of equation A-L = P is consistent with the legal interpretation of financial position. Thus it emphasizes that properly speaking the proprietary claim is the balance after providing for outsider’s claims against the business from the total assets of the business).

The author is an engineering graduate, B.E.(Hons), and is managing his own software development firm, HiTech Computer Services, that mainly deals in accounting, billing and inventory control software for traders, industries, business houses, hotels, hospitals, medical stores, newspapers, magazines, petrol pumps, automobile dealers, commodity brokers and other business segments, website and web application deveopment for business. The software are available both for intranet and internet. These software are available for download from the website:

Evaluation version download is available at http://www.hitech-on-web.com/p10.asp

Copy of the article and full Financial Accounting Primer or Tutorial is available at
http://www.hitech-on-web.com/Accounting_Conventions.asp

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