FINANCIAL ACCOUNTING III – ACCT 3018 ASSIGNMENT 1 DUE : TOTAL MARKS = 50 QUESTION 1 Marks=10 Listed below are items that are treated differently for accounting purposes than they are for tax purposes. Indicate whether the items are permanent differences OR temporary differences. For temporary differences‚ indicate whether they will create future tax assets or future tax liabilities 1. Advance rental receipts Temporary difference‚ deferred tax asset 2. Membership costs in a health
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The Scope and Limitations of Environmental Taxes in a Developing Country Setting 1. Introduction This paper begins by briefly outlining the impact of development on the environment and the consequent need to mitigate further environmental damage. Economically‚ the use of environmental taxes serves as an incentive-based tax to curb behaviour that is damaging to the environment. The paper then provides a brief outline of environmental taxes. Looking specifically at ‘first tier’ emerging markets‚
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cabinet in the executive branch of government in a parliamentary system. The Prime Minister of any government has different powers and limitations when it comes to governing any body of people. In both Barbados and Britain‚ the Prime Minister who governs their society has specific powers and limitations by which they abide. Sometimes these powers and limitations may or may not lead to Prime Ministerial Government. In the Caribbean‚ the prime minister has greater dominance over the executive than
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of those it serves. . Accounting ethics is a field of professional ethics which pertains specifically to accounting. For the public to rely on the information provided there must be a level of confidence in the knowledge and behavior of accountants. The nature of the accountants’ work puts them in a special position of trust in relation to their clients‚ employees‚ and people who rely on their professional judgment; ethics is viewed as necessary in the profession as it helps to minimize fraudulent
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CHAPTER 1: INTRODUCTION TO FINANCIAL ACCOUNTING 1.1 USE‚ PREPARATION AND CONCEPTS * Use: The information derived from financial accounting is used by managers‚ investors‚ bankers‚ financial analysts and accountants‚ helping them to learn how to use information effectively and to do their jobs better. This information is essential to accountants for the services they provide. * Preparation: to be effective users of accounting information‚ people need to know something about how and
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Evolution of Financial Accounting Introduction Accountancy is the art of communicating financial information of a business entity to its stakeholders. It is the branch of mathematical science that assists in discovering the causes of success and failure in a business. The American Institute of Certified Public Accountants (AICPA) defines accountancy as "The art of recording‚ classifying‚ and summarizing in a significant manner and in terms of money‚ transactions and events which are‚ in
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Student Number: N0359348 Name:HAOYI WU "Alternative media as an alternative to mainstream media” Explain and evaluate making use of appropriate examples. People generally see everyday involve mainstream media. It disseminated the largest distribution channel. Such as: broadcast in an evening or the prime time newscast in television; tabloids‚ the variety of magazines; news portals. Therefore the mainstream media represents the majority of media consumers are preferred
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The Financial Accounting Standards Board employs a "due process" system which (Points: 5) has all CPAs in the United States vote on a new Statement. enables interested parties to express their views on issues under consideration. identifies the accounting issues that are the most important. requires that all accountants receive a copy of financial standards. 2. (TCO A) The IASB: (Points: 5) governs accounting standards in the U.S. is working on a convergence project with the FASB. sets the
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the years since 1954‚ when the world’s first entirely functional nuclear power plant was built in Obninsk‚ Moscow. It has since‚ become an integral part of human life‚ existing in everyday applications like smoke detectors‚ deadly weaponry and an alternative source of renewable energy. The development of nuclear technology is considered as one of the most important‚ and significant scientific progresses made to date. However‚ many people around the globe insist that any further use of this technology
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Abesamis‚ Ma. Regina R. March 9‚ 2011 SOCTEC NO2 What is the purpose of medical diagnosis? Are outcomes of diagnosis always accurate/objective? If not‚ what are the possible limitations of diagnosis as a form of knowledge production? Basically‚ the purpose of medical diagnosis is to determine the illness of the patient. It is based on the clinician’s judgment on what is the patient’s condition. A diagnosis is only formed when enough data are required. There are many types of data
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