Chapter 19: Accounting for Income Taxes Fundamentals of Accounting for Income Taxes * Intro * Pretax Financial Income- income before taxes‚ income for financial reporting purposes‚ income for BOOK purposes * Determine according to GAAP * Taxable Income- amount used to compute income taxes payable * Determine using Internal Revenue Code (tax code) * Differences arise for a simple reason‚ for financial reporting purposes companies use the full accrual
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Twelfth Night Comparison Essay Twelfth Night is written by William Shakespeare. The play has been transformed into multiple movie versions including a BBC version‚ Hollywood version and a modern version called She’s The Man. The BBC movie was directed by John Gorrie‚ Hollywood version was directed by Trevor Nunn and She’s The Man was directed by Andy Fickman. Media techniques‚ characters‚ and plot are compared throughout the numerous versions of Twelfth Night show that She’s The Man is the best
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The “dark side of life” that William Shakespeare exposes in his play‚ Twelfth Night‚ is the danger in the individual’s willingness to abandon the intrinsic self as a means to better realize a goal. The characters Viola‚ Feste‚ and Malvolio‚ in assuming new persona’s‚ engage in a metaphysical betrayal in which they deny the reality of their nature. Viola’s choice to serve Duke Orsino as a page in hopes of finding her brother is by no means unethical‚ and her efforts are ultimately successful‚ but
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Does Fair Value Accounting for Non-Financial Assets Pass the Market Test? Hans B. Christensen and Valeri V. Nikolaev The University of Chicago Booth School of Business 5807 South Woodlawn Avenue Chicago‚ IL 60637 Abstract: The choice between fair value and historical cost accounting is the subject of longstanding controversy among accounting academics and regulators. Nevertheless‚ the market based evidence on this subject is very limited. We study the choice of fair value versus historical
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relationship between Governmental Accounting Standards Board (GASB) and Financial Accounting Standards Board (FASB) I realized that both play an important role in the accounting field. There are different objectives for each board and I will explain the similarities and differences. I will describe the role of government regulation in the application of accounting standards and reporting requirements. Finally‚ I will present a situation in a governmental accounting environment in which FASB standards
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During the “willow cabin” passage in Twelfth Night‚ hyperbole and polysyndeton are used to exaggerate the tone of Viola’s irritation and desperation. The entire speech is an amplification of how Viola feels and what she would really do in this kind of situation. The speech speaks highly of the love that Viola has for Orsino and the extent of what she would do to get it. Not only is she desperate for his love‚ but he is gunning after Oliva‚ someone who will never want him back. Viola tells Olivia
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ACCA F3 FINANCIAL ACCOUNTING International Stream TUITION CLASS NOTES Appendix The following notes are suitable for both the international and UK streams. There will some terminology differences between the two streams. These are summarised below: |International |UK | |Statement of comprehensive income |Profit and loss
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Introduction to Accounting Accounting is a profession used to make financial and business decisions. Billions of dollars exchange hands every day‚ in millions of separate business transactions. These are recorded and reported on using a comprehensive set of guidelines‚ referred to as Generally Accepted Accounting Principles (GAAP). Brief History of Accounting Accounting was born before writing or numbers existed‚ some 10‚000 years ago‚ in the area known as Mesopotamia‚ later Persia‚ and today the
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Lecture 2: Study Week 2 The Accounting Equation & the Double Entry System Objectives for today 1. Analyzing transactions using the Accounting Equation 2. Next Week: How do firms actually measure Income?: Accrual vs. Cash Accounting g 3. Next Week: Determine when a company should record revenues and Expenses: The Matching Principle The Operating Cycle Start with cash and end with more cash Collect cash from customers Purchase inventory Make sales to customers The Recording
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On September 28 2010‚ the International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB) had declared they had completely conducted the first stage of The Conceptual Framework joint project. The purpose of this joint project is to further improve an advanced conceptual framework for International Financial Reporting Standards (IFRSs) and US Generally Accepted Accounting Practices (GAAP) (Norwalk 2010). Basically‚ the conceptual framework is an attempt to express
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