Introduction The income smoothing literature has been the centre of attention in the accounting world for the past few decades. When companies experience economic turbulence due to a poor performance year‚ they turn to the accounting management department to resolve the bottom line. A strategy that managers can approach is changing the true information content of the company. As a result this has led managers to resort to smoothing their income. Many questions have been raised whether or not it
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COURSE CODE: ACC325 (ASSIGNMENT) MATRIC NO: 09AA08569 TOPIC: ‘Income tax is one of the major sources of revenue for all government in Nigeria and it is a factor to be recon with in both the state and the Federal Government body….It is an enforced contribution of money enacted pursuant to legislative authority….Analyze the importance and the problems of TAXATION and the way forward in Nigeria………….’ INTRODUCTION Income taxes provide the largest single source of government revenues in most
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Income inequality: Causes and Trends The distribution of wealth is extremely unequal in America and the whole world. This paper documents the growing inequality‚ and examines three reasons for its increase. The income growth for top earners is faster than income growth for the poor. This accelerated income growth for top earners would increase the income gap between top earners and the poor. In addition‚ income inequality between the poor and top earners in the US is becoming greater than in other
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INCOME TAX NOTES Residential Status and Incidence of Tax According to Section 5 of the Income Tax Act the scope of total Income of an assessee depends on his residential status.On the basis of residential status assessee are classified under the following two categories: 1. Resident 2. Non-resident. As per as resident individuals and Hindu Undivided Families are concerned‚ they can be further divided into two categories: 1. Ordinarily Resident 2. Not ordinarily Resident. Residential
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NATIONAL INCOME:- What is National Income? National Income is the sum that is total money value of all the goods and services produced in one accounting year. So when we talk about goods and services we are only talking about the final goods and services and not the semi processed‚ when we take the money value of all the goods and services produced within the domestic boundary on India only and to not other countries. CONCEPTS OF NATIONAL INCOME IN TERMS OF MARKET PRICE:- 1) Gross Domestic
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person‚ company to company and state to state. 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
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system are very much needed in companies and business that will help them in order to come up with a better products or services and even accurate data for the firm through the Information System. Information System is defined as combination of technology‚ people‚ and data to support business requirements. Bossing’s General Merchandise was founded by Ms. Agnes Filomeno last July 3‚ 2001. it is located at 1242 Jacinto St. Extension‚ Guadalupe Nuevo‚ Makati City. The company had been established as Ms
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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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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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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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