ACCG908 CPA – Strategic Management Accounting Class 1 Appendix 1.1 to Module 1 Creating Organisational Value Class 1 – Introduction to Unit and to Your Exam Planning Review of Assumed Knowledge contained in Appendix 1 to Module 1 prepared by Patrick Gallagher North Ryde Unit Convenor using CPA 104 Study Guide Module 1 © CPA Australia Session 2 2014 READING THE MODULE is the most important thing to do before each class! Introduction to class in SMA � We will be concentrating on the
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Outline for Chapter 3 Income Sources Gross income= all income received‚ less exclusions from income. All inclusive income concept (all income received is taxable unless a specific provision in the tax law either excludes the income from taxation or defers its recognition to a future tax year) provides the basis for calculating gross income. Realization (no income or loss is recognized until it has been realized. A realization involves a changing in the form and/or substance of a taxpayers property
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promissory note for $400 due in three months with interest. Hank sold the note in January for $350. Mike gave Hank tickets in December to the big game in January. The tickets have a face value of $50 but Hank could sell them for $400. Hank went to the game with his son. Mike bought Hank a new set of snow tires. The tires typically sell for $500‚ but Mike bought them on sale for $450. $200 this year. $500 this year if the value of the note at the time of the exchange was $400. Note the difference between a promise to pay in part a
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CLASS SET Chapter 14 CLASS SET What are Taxes? Section One: 1. Citizens of the United States authorize the government‚ through the Constitution and elected officials‚ to raise money through taxes. 2. Taxation is the primary way that the government collects money. 3. Without revenue‚ or income from taxes‚ government would not be able to provide goods and services. 4. Article 1‚ Section 8‚ Clause 1 of the Constitution grants Congress the power to
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Running Head: FINAL Final Essay Exam Ricardo Alvarado Kaplan University CJ 140-02 Introduction to Constitutional Law Professor‚ Ryan McNeal June 21‚ 2011 Knowing and just being aware of ones right could be essential for the public. One has to know the basic differences between a probable cause and reasonable suspicion. An encounter with an officer and a possible violation of the law it helps to know the cause so one can be prepared for a possible defense strategy. Warrants have certain
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Question 1 (5 points) $50 today is worth MORE than $50 tomorrow. Your Answer Score Explanation True ✔ 5.00 Correct. You understand Time value of money. False Total 5.00 / 5.00 Question Explanation We have assumed time value of money is positive. Question 2 (5 points) At an interest rate of 10% it is better to have $100 today than $120 in 2 years. Your Answer Score Explanation True ✔ 5.00 Correct; it is compounding! False Total 5.00 / 5.00 Question Explanation
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Increase of Taxation Effect on Middle Class Effects of Taxes are needed in order to securely administer and fund different governmental organizations‚ as well as construction and other universal infrastructure services. Many proponents of taxes suggest that taxation is way too extreme within the present day economic trends that exist within America. Taxes do fund many programs and construction of certain projects within America‚ but also affect certain aspects of America’s economy. Taxes do present
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C h a p t e r 2 Topic: Production Possibilities Frontier Skill: Recognition Production Possibilities and Opportunity Cost 4) The production possibilities frontier is A) upward sloping and reflects unlimited choices. B) upward sloping and reflects tradeoffs in choices. C) downward sloping and reflects unlimited choices. D) downward sloping and reflects tradeoffs in choices. Topic: Production Possibilities Frontier Skill: Recognition 1) The production possibilities frontier
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the fact that annuity payments are tax-free. They could also defer income tax liability by making contribution to the retirement fund. How is this lease reported on my income tax returns (either personally or for my business which is a separate law practice established as an LLC)? - LLCs are generally treated as disregarded entities for income tax purposes and all income and expenses are reported on owner’s tax return as self-employment income on the schedule C. (1) Lease expenses are deducted
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Just as everything and every institution require a set of I rules‚ traffic also needs rules in order to remain orderly I and disciplined. The question that next arises in our minds is that‚ what is the necessity of rules? It is necessary to have rules everywhere in order to make the functioning smooth and efficient. If there were to be no rules then‚ it would be a picture of total chaos and confusion. Rules regulate the work and help it move along the desired path. Thus‚ in order to have a smooth
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