Toniloba Opasanya L6SR Types of Taxes A pie chart showing the projected constituents of United Kingdom taxation receipts for the tax year 2008-2009‚ according to the 2008 Budget. This is the pie chart showing the projected constituents of the United Kingdom taxation revenue for 2010-2011 Income Tax Income tax forms the single largest source of revenues collected by the government (followed by national insurance contributions‚ an additional levy on incomes at around 20%). Each person has
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During the period from 1997 to 2001 Maytag is making money .However‚ it seem to have a little fluctuation go up and then go down. 1999 was the best year for the company. Also there is a sign of danger because from the mid of 1998 to 2001 the company had increase its sale but there profit went down but that could be acceptable because they have expanded and improved their business . In term of liquidity Maytag was doing just good enough to pay its bills when they came due because its current and
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In 2005‚ sales at appliance manufacturer Maytag were suffering due to a combination of rising material and labor costs‚ increasing competition‚ and a decreasing market share. When Maytag received a takeover bid from a private US investment group‚ they opened up the bidding to other offers. One of the companies considering a bid was China ’s largest home appliance maker‚ Haier. Pros: Cons: Chinese government policy encouraged its large companies to acquire overseas brands and combine them into
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Incomestmt-tax basis | | | | | | | | | | | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | | | | | Projected Sales | 25.375 | 32.25 | 45 | 65 | 80 | 95 | | | | | Sale price | 3200 | 3200 | 3200 | 3200 | 3200 | 3200 | | | | | Revenue | 81200 | 103200 | 144000 | 208000 | 256000 | 304000 | | | | | Labor Expense | 32250 | 32250 | 95000 | 95000 | 95000 | 95000 | | | | | Gross margin | 48950 | 70950 | 49000 | 113000 | 161000 | 209000 | | | | | Less | | | |
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Different Types of Taxes The tax payable should be concurrent and equitable as per the ability of an individual or households to pay. This is called the taxable capacity. Tax is the only source of government for revenue generation. Governments finance their all expenses through taxes. Those expenses include‚ To finance defense expense To finance development work and to carry on social welfare To finance administrative expenses Despite that trade driven expenses like budget deficit
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E 16-1 Temporary difference; taxable income given LO1 Alvis Corporation reports pretax accounting income of $400‚000‚ but due to a single temporary difference‚ taxable income is only $250‚000. At the beginning of the year‚ no temporary differences existed. Required: 1. Assuming a tax rate of 35%‚ what will be Alvis’s net income? 2. What will Alvis report in the balance sheet pertaining to income taxes? Solution: Requirement 1 Since taxable income is less than pretax accounting income
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CONTINGENCY THEORY CONTINGENCY THEORY IS A CLASS OF BEHAVIORAL THEORY THAT CLAIMS THAT THERE IS NO BEST WAY TO ORGANIZE A CORPORATION‚ TO LEAD A COMPANY OR TO MAKE DECISIONS. “THE BEST WAY TO ORGANIZE DEPENDS ON THE NATURE OF THE ENVIRONMENT TO WHICH THE ORGANIZATION RELATES.” William Richard Scott CONTINGENCY THEORY TELLS US THAT AN ORGANIZATION IS MOST EFFECTIVE WHEN IT ADAPTS AND FITS ITSELF TO THE ENVIRONMENTAL CONDITIONS. CONTINGENCY THEORY IN A NUTSHELL Organizations are
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Deferred Tax Assets There are a few accounting differences between tax (IRS) accounting and US GAAP accounting. Some differences cause deferred tax asset which is a future tax benefit. For example‚ say a firm currently is offering a special onetime 2-year warranty when a customer purchases its product. The firm estimates that over a 2-year period it is likely to spend a total of $200‚000 in warranty repairs. The following presents the reported income for this 2-year period using US GAAP rules:
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5. Theoretical Contingency Framework 5 Theoretical Contingency Framework Having clarified the EPs’ development in the previous chapter‚ this chapter presents the theoretical framework that was developed to guide the data collection‚ analysis‚ and performance evaluation presented in the subsequent chapters. We first introduce structural contingency theory and its underlying assumptions. Specific attention will be given to the “patterned systems” approach (Van de Ven and Ferry 1980) which will
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Contingency Factors Podcast Transcript Speakers: Diane‚ Scott‚ Elizabeth Reeves Fidler Diane: Hey everyone‚ welcome to the podcast where we talk in detail about management and business principles that YOU need for success. Scott: Welcome to this week’s podcast and we have for you - Plan B! Diane: You mean we’re not going to discuss contingency factors in planning? (laughter) Diane: Never mind – of course! Contingency factors - also known as ‘Plan B’ Scott: That’s the one. That plan we’ve
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