Free Essays on Income to Get Inspired & Learn by Example - Page 4

Introduction

What are Corporate Tax Penalties?
Corporate tax penalty refers to the punitive tax applied on a local or federal level for deterring non-compliance, including underpayment of income tax, filing income tax return past the due date, and failing to file a tax return. In the USA, the Internal Revenue Service (IRS) has the primary responsibility of issuing corporate tax penalties at the federal level (“Publication 542-Main” 2011). State and local rules related to corporate tax penalties, however, vary, and those are executed by the state and local governing authorities.

Purpose and Scope

The purpose of tax penalty is to make sure that Continue reading...

Assumptions of the Financial Plan

A financial plan is the most important part of a business plan, in which the forecasting of revenues, income statement, balance sheet and cash flow will be included to inform that the business will create economic values in the future. A business plan without a perfect financial plan is not at all accepted, and it is unable to attract the attention of the investors towards their project. The assumptions have been distributed into two different units known as Residential Units and Rental units because the financial plan is a plan of a Real Estate Business Plan.

Following are the number of Residential and Rental projects to be completed in a year from Year 1-5

There is 20% Continue reading...

Information technology has reached new heights of affecting human lives more than ever to the point that the fear of human labor not being needed in many industries has become a growing concern. It seems that the point where machines are slaves to humans have been surpassed since its developments has enabled it to do the functions of humans in a relatively more desired way, at least in the point of the company’s executives employing it, since it brings the three industrial disciplines of measurement, standardization and speed into the office place. What was once seen only in Continue reading...

Simplifying the Accounting for Revenue Recognition by FASB 2

I. Background 2
II. Scope of standard 7
III. Next steps and implications for practice 8
IV. Conclusion 10

References: 12

Simplifying the Accounting for Revenue Recognition by FASB
I. Background
The elaboration of a new standard simplifying revenue recognition was one of the highest priorities of the joint IASB-FASB convergence project. The purpose of the project was defined as eliminating a range of differences between International Financial Reporting Standards (IFRS) and United States Generally Accepted Accounting Principles (U.S. GAAP). The project was initiated in 2002 on the basis of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Continue reading...

Introduction

Development is not only concerned with the economic growth of a country. It is influenced by various factors. This essay will critically and comprehensively address several issues including the problem associated with measuring a country’s development using the indicators of wealth. Moreover, it will indicate the extent at which countries with similar average income differs from each other in welfare of their citizens. Nonetheless, the paper will address my opinion about the definition of development as expounded throughout the essay.

Question 1

Development cannot be determined by indicators of wealth only because it is influenced by basic ingredients. Real development Continue reading...

Introduction

The company chosen for this assignment is Guinness Anchor Berhad (GAB). The reasons for picking this company is due to its ability to adopt new business models in the ever competitive beer and breweries industry. Secondly, despite the effects of the world economic recession that has hit many companies within the industry, the company has been registering an increasing growth in its annual income.
Guinness Anchor Berhad (GAB) is Malaysian Multinational Corporation that was established as a merger between Malayan Breweries (Malaya) and the Guinness Malaysia Bhd in the year 1989. The company trades its shares on the Malaysian Continue reading...

Introduction

The cost of university and college education has increased significantly. For the past several years in the United States, the increase in tuition has exceeded more than the inflation rate by two to three percent annually. As observed, college tuition fees have increased at an average of 7% annually, which is more than double the average annual inflation rate of 3.22%. When compared with other commodities and services, tuition fee has increased more than 500 percent in the past 28 years as compared to 286 percent increase in medical costs and a 121 percent increase of the consumer price Continue reading...

SUMMARIZE, OF THE ARTICLE

An article that was written by Rudzik (2012) sought to establish the Experience and Determinants of First-Time Breast-Feeding Duration among Low-Income Women from São Paulo, Brazil. The article sought to find out the factors that make first time mothers breastfeed their children exclusively on breast milk 12 weeks postpartum and factors that make first time others switch from exclusively breastfeeding their infants 12 weeks postpartum to supplementing the infant with non-breast foods. The researchers undertook the study in low-income populations to find out if the findings of the study will be consistent with findings from similar studies carried Continue reading...

M.B.C Tax Consultants
1234 – 0090

New York
456-890
5th Avenue
Hillpark
Dear Sir
REF: TAX LIABILITY IN SALE OF BUILDING AND PURCHASE OF CO-OP UNIT SHARES
Scenario 1
With the intentions of making a sale that will amount to the offer by the client for $850,000, it will be very implicit that the client will be liable for income tax on the gains made from the sale of the assets. The data that you have provided, records that the property/ building was bought at the price of $500,000, subject to the accounting, provision in the IRS (2015) Continue reading...

Introduction

One of the most important phenomena of our time is globalization. This is a process of global economic, political and cultural integration and unification. The labor market is a major subsystem of the economy and is one of the most reliable indicators of its changes. Relevance of the study of the global labor market in the context of globalization is defined as the significance of the subsystems of the labor market for a modern market economy. It is important to understand how globalization affects the changes that have occurred over the past twenty years in the global economy, as Continue reading...