The Balance of Payments of a country always balances The BOP accounts summarize international transactions for a specific period‚ usually a year‚ and are prepared in a single currency‚ typically the domestic currency for the country concerned. Since the balance of payment is based upon system of double-entry book-keeping‚ the total debits must equal to total credits. This is because two aspects of each transaction recorded are equal in amount but appear on opposite sides
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Accounting for Income Tax The standard prescribes the accounting treatment for income taxes is AASB 112 AASB 112 is based on a balance sheet approach to account for income taxes and it covers: • the accounting treatment of current and deferred tax expenses; • recognition and measurement of current tax assets and liabilities; • recognition and measurement of deferred tax assets and liabilities; • the accounting treatment of the tax consequences of various transactions and events‚ including
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Importance of National Income Statistics There are several important uses of national income statistics and‚ therefore‚ there is great need for their regular preparation. National income estimates provide not only a single figure showing the national income‚ but also supply the detailed figures in regard to the various components of the national income. It is both the figure of national income and the details regarding its various constituents that throw light on the functioning and performance
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Customs reflect what people usually do and the way how they do it and can be divided into different groups‚ such as: calendar customs which are activities related to certain days in the year or lifecycle customs which are activities connected with the key moments in people’s lives like getting married or dying. (GREEN‚ 169‚ 1997) This essay will describe 3 calendar customs which people in Ireland celebrated and will show how they celebrated them. The first one will be Saint Brighid’s day which is
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of federal income tax. It helps to identify the different terms that are associated with income tax. It will point out how calculations are formed to paying taxes or getting a refund. This essay distinguishes the importance of your income and knowing what taxes you will be paying. Federal income taxes can be complicated and hard to file. But‚ knowing how it works can help save money‚ understand how it’s calculated‚ and what is determined in taxation. Income tax includes your income‚ deductions
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Custom-designed drugs At the cusp of dot-com frenzy and the biotech century‚ a group of influential scientists and pundits has begun zealously promoting a new bio-engineered utopia. In the world of their visionary fervour‚ parents can now afford the latest genetic "improvements" for their children. According to the advocates this is the human future (or‚ as some terms it‚ "post-human" future)‚ the exercise of consumer preferences for offspring options will be the prelude to a grand achievement:
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Income Effect The equilibrium of the consumer is obtained on the basis of the assumption that the income level of the consumer remains constant and prices of the two commodities also remain constant. When income of the consumer changes or when any price level changes the equilibrium position will be affected. When income increases‚ prices of the commodities remaining the same‚ the budget line shifts parallel to the right. This happens because there is a change in the intercept part of the equation
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“Family Income” Wage- Is the money amount receive daily for rendering service. Received by unskilled semiskilled‚ and skilled workers or blue-collar workers. A salary is the amount of money received monthly by professionals or white-collar workers. IN ADDITION TO WAGES OR SALARIES‚ SOME FAMILIES HAVE OTHER SOURCE OF INCOME THIS INCLUDE THE FOLLOWING: 1. Dividends from investments in bonds & stock. 2. Gifts from relatives & friends. 3. Inheritance. 4. Rentals from apartments
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However‚ almost every income earner has to pay federal income tax. An income tax is a tax levied on the financial income of persons‚ corporations‚ or other legal entities. Various income tax systems exist‚ with varying degrees of tax incidence. Income taxation can be progressive‚ proportional‚ or regressive. When the tax is levied on the income of companies‚ it is often called a corporate tax‚ corporate income tax‚ or profit tax. Individual income taxes often tax the total income of the individual‚
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ripping hearts out of the human sacrifice‚ mainly high- ranking war prisoners‚ and leaving it there for the gods or by pushing them down a cliff. They used human sacrifice because it was believed that human blood made the gods stronger. Yet‚ another custom was practiced which was self-torture‚ where they would pierce a body part and run a thread through to let the blood run down it. Sometimes‚ the Mayans would have dances and dressed up in clothing and masks resembling their gods. The
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