The most interesting fact related to fiscal policy is the reason why it was invented in the first place. Let’s go back to Dayton, Ohio when the first mechanical cash registers were invented by James Ritty. However, the cash registers became popular with John Henry Patterson and his brother who bought the company and renamed it the National Cash Register or shortly NCR.

ECONOMICS word cloud, business concept

The reason why this product was one of the most selling that time is John’s campaign that introduced cash register as the most powerful weapon in the sales industry. He introduced it as the weapon against your employee theft. He established the sales training school included where the employee could learn how to use it.

How John’s patent and idea affected modern society?

First, this product was used in employee theft prevention; later the government realized how useful it could be in organizing the country and easier charge companies with VAT. This little invention became a mandatory in any sales business, due to its possibility to track the money flow.

Nowadays, every country has its fiscal-policy, and the more stable this system is, the more stable economic situation of the country is.

How is important fiscal-policy knowledge for your job?

If you want to be successful sales company you need to know fiscal-policy of your country. You need to know which product is the best for selling and which product will provide you with the greatest profit. To manage that you need to know the VAT for your product, your rented place.

Eco 1

You need to be familiar with the tax system of your country; after all, you need to have good calculation if you think to earn something. Have you ever wonder why some actors move from their country, in most cases to avoid tax, the luxury tax. The same principle is with any other kind of business.

How to get known with your country fiscal-policy

The good thing about law is the fact it is public. Everyone can read the state’s law online and learn it. The biggest issue is the fact not everyone can understand it. There are usually a lot of terms that ordinary people couldn’t understand. This is why the best way to resolve this obstacle is to hire experienced lawyer and account. These two people should be one of the most important in your business.

Eco 2

They will be the one in charge of financial part of the company, which is the most important for you. They will help you to minimize your expenses and to make a focus on your profit. With fiscal-policy, you will also be able to control your employees and to prevent any employee theft. Look how great corporation manage to deal with this issue. MC Donald’s is on the top of the ladder with this system; they calculate everything and even a small cucumber has its fiscal code, and your employees are not able to spend more than your receipt is showing.