Enron: Questionable Accounting Leads to Collapse The Enron Corporation was established by integrating two major gas pipelines in 1985. The Company provided products and services related to natural gas‚ electricity‚ and communications and it was one of the world’s leading organizations at these sectors with claimed revenues of nearly $101 billion in 2000. Throughout the 1990s‚ Chair Ken Lay‚ chief executive officer Jeffrey Skilling and chief financial official officer Andrew Fastow transformed
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INTRODUCTION Corporate Scandals also known as Accounting Scandals are business scandals that originate from the misstatement of financial reporting by the executives of public companies who are trusted to run these organizations. These misrepresentations happen through overstating revenues‚ understating expenses‚ Overstating assets or understating liabilities‚ use of fictitious and fraudulent transactions and direct falsification of financial statements to give a misleading impression of the companies’
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FINAL WEALTH TAX Accepting the recommendations of N. Kaldor to introduce “integrated direct tax system” in India‚ Wealth Tax Act‚ 1957 was enacted. The Act was amended from time to time. The major objective of wealth tax has been attainment of equity objective of tax policy because wealth is considered as the major source of inequalities. The wealth taxation in India is applicable to all citizens of the country and is also called the wealth tax act‚ 1957. This is also considered to be direct
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REVIEW OF SOME EFFECTS OF NIGERIAN CORPORATE TAX REGIME ON INVESTMENT PROMOTION BY: Y.S.UTHMAN 1.1 INTRODUCTION: Neither the Companies Income Tax Act nor any Nigerian Tax Law provides for the definition of the term tax or corporate tax. In an Australian case of Mathews v. Chicory Marketing Board‚ a tax has been defined as “a compulsory exaction of money by a public authority for public purposes‚ or taxation is raising money for the purpose of government by means of contributions from individual
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The aim of this paper is to discuss the ageing population in the workforce and the shift toward non-standard employment arrangements. This essay will first explore how work has changed‚ the issues and the implications for an ageing population in the workforce and will be followed by an explanation on how employment arrangements and the workplace has changed‚ the issues of this transformation and also implications. This paper will conclude by giving recommendations on the issues raised by the ageing
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Gulliver’s World? IVER B. NEUMANN AND SIEGLINDE GSTÖHL 1. Small States in the International System Edited by CHRISTINE INGEBRITSEN‚ IVER NEUMANN‚ SIEGLINDE GSTÖHL‚ and JESSICA BEYER 2006 UNIVERSITY OF WASHINGTON PRESS • SEATTLE International Relations (IR) is a state-centric discipline as well as a powercentered discipline‚ and this volume will not challenge either of those two foundations. Our aim is rather to draw attention to the importance of studying states in their diversity. More specifically
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Evaluating a Tax Structure Adam Smith -canons of taxation Equality Convenience Certainty Economy III. Tax Structure Tax base: Tax rates: Incidence of tax: Examples: Income $10 $20 $30 $3 (30%) $6 (30%) $9 (30%) $3 (30%) $7 (35%) $12 (40%) IV. Major Types of Taxes Property Taxes Transaction Taxes Death Taxes Gift Taxes Income Taxes Employment Taxes Other U.S. Taxes V. Formula for Federal Income Tax on Individuals Figure 1.2 VI. Corporate Income
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Account for the shift from personal management/industrial relations (PM/IR) to Human Resource Management (HRM). Compare and contrast PM/IR to HRM and briefly outline the challenges for HRM today. HRM has been developed over many years and has taken many steps in the process of change from the evolution of ‘personnel management’‚ to industrial relations‚ to employee relations onto human resources. The need for control over the human resources of an organisation came about during the industrial
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| Can a Corporation Have a Conscience? Can a corporation have a conscience? In this case study‚ authors Kenneth E. Goodpaster and John B. Matthews Jr. argue that corporations should act and behave as if they were a moral person. Southern Steel Company was the case in discussion. This company – during the rational tension of 1960’s - faced pressure from the press and government to explain and modify its unethical policies regarding discrimination within its plants and in city where the company
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taxation in Bangladesh Tapan K Sarker1 ABSTRACT: This article reviews the incidence of income taxation in Bangladesh tax system. The main purpose of the study is to determine how the burden of personal and corporation income taxes is allocated among taxpayers of different income groups. In case of personal income taxes it shows that only 13 percent taxpayers paying around 73 percent of tax revenue collected through personal income taxes and interestingly about 53 percent taxpayers pay only 0.08 percent
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