INTRODUCTION Corporate governance is the framework of rules and practices by which a board of directors ensures accountability‚ fairness‚ and transparency in a company ’s relationship with its all stakeholders (financiers‚ customers‚ management‚ employees‚ government‚ and the community). The corporate governance framework consists of (1) explicit and implicit contracts between the company and the stakeholders for distribution of responsibilities‚ rights‚ and rewards‚ (2) procedures for reconciling
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Definition of Tax Evasion: Tax evasion usually entails taxpayers deliberately misrepresenting or concealing the true state of their affairs to the tax authorities to reduce their tax liability and includes in particular dishonest tax reporting‚ such as declaring less income‚ profits or gains than actually earned or overstating deductions‚. It is an illegal practice where a person‚ organization or corporation intentionally avoids paying his/her/its true tax liability. Examples of practices which
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Corporate Finance Revision List Topic | Study Program | The Realm of Corporate Finance and Efficient Market Hypothesis | * Overview of finance’s main functions & its importance to organisations. * Importance of value creation as the primary objective of managers * Efficient Market Hypothesis (EMH) | Financial Statement Analysis | * Overview of calculating & interpreting accounting & financial ratios from corporate financial statements & understanding their significance in corporate
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CORPORATE GOVERNANCE Corporate governance refers to the system by which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors‚ managers‚ shareholders‚ creditors‚ auditors‚ regulators‚ and other stakeholders) and specifies the rules and procedures for making decisions in corporate affairs. Governance provides the structure through which corporations
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Finance Department of Revenue (Tax Research Unit) *** V. K. Garg Joint Secretary (Tax Research Unit) Telephone No. 011-23093027 Fax No. 011-23093037 E-mail: garg.vk@nic.in D. O. F. No 334/1/2012-TRU New Delhi‚ dated 16th March‚ 2012. Dear Sir/Madam‚ Subject: Union Budget 2012: Changes in Service Tax-reg. It is said that in matters relating to taxes‚ questions rarely change‚ but the answers do. Budget 2012 has‚ however‚ changed a number of questions relating to service tax. 2. No more will the most often-asked
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Income Tax Return Assignment You have your own CPA tax practice and you are greeted with new clients: Albert and Jenny Cunningham and their two children. You meet with them and they give you the information shown below. They would like you to prepare their tax return for 2013. They would like to file married filing jointly. NOTE: Reference to the “current tax year” below for the taxpayers‚ Albert and Jenny‚ it is for the calendar year 2013. Albert and Jenny Cunningham (both 42 years
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The Review of The Shawshank Redemption The events The Shawshank Redemption take place in 1947. Andy (Tim Robbins) is a young banker who is convicted of murdering his wife and her lover. He is sentenced to life imprisonment‚ which means that he will be in Shawshank prison through the rest of his life. For a long time‚ Andy does not talk to anyone. While everyone complains‚ he is leisurely walking in the yard‚ just like in the park. A month later‚ the first thing that Andy asks his inmate Red (Morgan
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informed decisions about what stocks to buy or sell. Without fundamental value‚ one is set adrift in a sea of random short-term price movements and gut feelings. Before we can value a share of stock‚ we have to have some notion of what a share of stock is. A share of stock is not some magical creation that ebbs and flows like the tide; rather‚ it is the concrete representation of partial ownership of a publicly traded company. If XYZ Corporation has 1 million shares of stock outstanding and we hold
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Chapter 1 Note: the summaries at the end of each chapter are good study tools. Corporations A corporation is a permanent entity‚ legally distinct from its owners‚ who are called shareholders or stockholders. A corporation confers limited liability to its owners: shareholders cannot be held personally responsible for the corporations’ debts; they only stand to lose their investment. To incorporate‚ you work with a lawyer to prepare articles of incorporation‚ which set out the purpose of the
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Subject: Corporate Finance (3 credits) Reference book: 1. Essentials of managerial Finance: Harcourt College 2000 2. Fundamentals of financial management: Mc Graw Hill 2007 Chapter 01: An overview of Finance What is finance? Finance is concerned with decisions about money (cash flows) Finance decisions deal with how money is raised and used Everything else being equal: * More vale is preferred to less * The sooner cash is received the more value it has * Less risky
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