includes the personal profit‚ business income‚ and the capital gain. Referring to Australian Accounting Standard Board (AASB) 112‚ the income tax expense (income) is not merely equal to current tax liability (asset)‚ but also the function of the deferred tax liabilities and assets (Leo‚ Hoggett‚ & Sweeting‚ 2012). The tax which incurred to a company will depend on the company’s performance. If the company gets a positive taxable income‚ then the company has to pay 30% of it to the federal. However
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Executive Summary This memorandum is intended to communicate the deferred tax issues of Lucent Technologies Inc. on the basis of analysis of the veracity of the situation according to the reporting framework’s guidelines to anticipate unfavorable implications that had been resulted due to poor performance of the company over the past years. The Financial Accounting Standards Board (FASB) is the recognized body for making pronouncements as Generally Accepted Accounting Principles (GAAPs) in the
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when you had to test a theory. This theory may be something you have tested at work‚ school‚ or even at home. Answer the following questions in your summary: o What type of informal research method did you use? o How was your research method similar to research methods used by psychologists? o If given another opportunity‚ what would you have done differently? When thinking about a time I had to test a theory there are many that come to mind. One thing that comes to mind is when my middle
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get it back - the middle class values that made the India story an attractive one globally. It will be a long and hard way to recovery. Edited excerpts: Is the India story fading? As we were all growing up there used to be a very big mantra in India which was called ’export or perish.’ There was a long period when we used to focus on import substitution. In the past eight years‚ these two phrases ’export or perish’ and ’import substitution’ are no longer a part of the Indian economic vocabulary. I
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Taxes in India 1. Corporate tax rates: For a Company | Where taxable income exceeds INR 10 million | Other cases | Domestic company | 32.45% (30% + 5% surcharge + 3% education cess) | 30.90% (30% + 3% education cess) | Foreign company | 42.02% (40% + 2% surcharge + 3% education cess) | 41.20% (40% + 3% education cess) | 2. Dividend Distribution Tax Dividend income is exempt in the hands of the shareholders. However‚ a DDT is levied on companies declaring dividends. The effective
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Imposing Taxes on Fast Food Restaurants Everybody Know that fast food became the leading most successful restaurants in world nation. The media is one of the key factors behind spread of fast food restaurant. The owner of junk food restaurant implement huge advertising campaign using football player and other social media influencer this will lead to attract more people to buy their meals. Also study shows that fast food restaurants make billon of dollars monthly on behalf the children
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liabilities| a 6. At of the end of its accounting period‚ December 31‚ 2009‚ Great Marks Company has assets of $940‚000 and liabilities of $300‚000. During 2010‚ Great Marks sold $65‚000 of capital stock and declared and paid $45‚000 in dividends. What is the amount of net income during 2010‚ assuming that as of December 31‚ 2010‚ assets were $995‚000‚ and liabilities were $270‚000? a.|$ 65‚000| b.|$ 50‚000| c.|$105‚000| d.|$370‚000| B 7. There are four transactions that affect Stockholders’ Equity
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Chapter 5—Introduction to Business Expenses 1. Tina‚ Terri‚ and Tricia operate Capstone Fashions an exclusive boutique. e. $140‚000 2. To be deductible‚ the dominant motive for incurring an expense must be d. the intent to earn a profit. 3. Which of the following is an example of a business purpose as dominant motive? b. Only statement II is correct. 4. The Business Purpose Concept means c. Both statements are correct. 5. The legislative grace concept
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What methods did Stalin use to control the Soviet Union? There are several methods Stalin had introduced to obtain control over the Soviet Union by directing individual policies and techniques into a particular group. Early on the time Stalin had seized power over Russia‚ he had immediately brought out his version of the cult of personality. It was also referred as the ’cult of Stalin’. As a technique it was brought out to push the glorification of Stalin into every corner of the work place
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How we use land ’Land use’ is also often used to refer to the distinct land use types in Zoning. Land use is the human modification of natural environment or wilderness into built environment such as fields‚ pastures‚ and settlements. The major effect of land use on land cover since 1750 has been deforestation of temperate regions.[1] More recent significant effects of land use include urban sprawl‚ soil erosion‚ soil degradation‚ salinization‚ and desertification.[2] Land-use change‚ together
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