PERSONAL COPY/ NOT FOR SALE OR CIRCULATION (Session 2012-13) INTRODUCTION HISTORY OF INCOME-TAX: 1. India’ trust with income tax dates back to 1859 when James Wilson‚ Finance member in the Council of India‚ came to the country to establish the tax structure‚ a new paper currency and to remodel the finance system. 2. A bill imposing tax on profits from property‚ professions‚ trades and offices was passed by the Legislative Council of India. It received the assent of the Governor General on July
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– 1year chart Mcdonalds – 1 Year incomes In Millions of USD (except for per share items) 3 months ending 2011-09-30 3 months ending 2011-06-30 3 months ending 2011-03-31 3 months ending 2010-12-31 3 months ending 2010-09-30 Revenue Other Revenue‚ Total Total Revenue Cost of Revenue‚ Total Gross Profit Selling/General/Admin. Expenses‚ Total Research & Development Depreciation/Amortization Interest Expense(Income) - Net Operating Unusual Expense (Income) Other Operating Expenses‚ Total Total
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Corporations can claim capital losses only against capital gains. In other words‚ if a corporation has an excess capital loss‚ it cannot deduct the loss in the current tax year. Instead‚ it carries the loss to other tax years and deducts it from any net capital gains that occur in those years. A capital loss is carried to other years in the following order. 3 years prior to the loss year. 2 years prior to the loss year. 1 year prior to the loss year. Disallowed capital losses can be carried
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comprehensive income PURPOSE AND SCOPE .01 This Section establishes standards for reporting and display of comprehensive income. It does not address issues of recognition or measurement for comprehensive income and its components. .02 This Section does not apply to not-for-profit organizations (see FINANCIAL STATEMENT PRESENTATION BY NOT-FOR-PROFIT ORGANIZATIONS‚ Section 4400). DEFINITIONS .03 The following terms are used in this Section with the meanings specified: (a) Comprehensive income is the
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Net National Product Definition Net National Product (NNP) is the total market value of all final goods and services produced by citizens of an economy during a given period of time (Gross National Product or GNP) minus depreciation. Depreciation (also known as consumption of fixed capital) measures the amount of GNP that must be spent on new capital goods to maintain the existing physical capital stock. NNP is the amount of goods in a given year which can be consumed without reducing the
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Topic: 605 Revenue Recognition‚ Subtopic: 45 Principal Agent Consideration‚ Section: 45 Other Presentation Matters‚ Subsection: 1 General Emerging Issues Task Force. Financial Accounting Standards Board. Reporting Revenues Gross as a Principal versus Net as an Agent. 2000. Print. Collingwood‚ Harris. "Revenue Recognition: What Is a Sale‚ and When Do You Book It?" FT Press: Leading Business‚ Finance‚ Life and Science Knowledge. 29 Aug. 2003. Web. 13 Oct. 2010. .
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EXECUTIVE SUMMARY Statement of Purpose The purpose of this case study is to help Airborne Express with its strategy formulation and implementation. Statement of the Problem and Objective Problem: Decline in the market share of Airborne Express in the volume of overnight deliveries. Objective: To become one of the top three companies in the express carriers industry. Alternative Courses of Action ● Not compete with established competitors like FedEx and UPS‚ and stress the reliability
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118) | 9.2% | Operating income | $695 | $(152) | $765 | $(70) | 9.1% | Net income | $458 | $(346) | $362 | $96 | 27% | Earnings per share | 1.21 | (0.97) | 0.97 | 0.24 | 25% | Table 1 ($ in millions)‚ 2008 is the base year In the year 2010‚ compare with the year 2008 there was a 9.2% improvement in expenses control. Therefore‚ there was a significant improvement (about 27%) in net income compare with the base year. Also‚ due to the better performance in net income therefore the earnings per
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occupancy and average rate projections into an estimate of rooms revenue. Analyzing data collected in the market and industry statistics‚ the appraiser can establish a forecast model of other revenue category such as food‚ beverage‚ telephone‚ and other income as well as normal hotel operating expenses. Before projecting individual items of hotel revenue and expense‚ the fixed and variable component approach is widely used‚ setting up a constant portion of expense or
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Gross Income | 8.18B | 8.35B | 9.42B | 10.5B | 11.03B | | | 2009 | 2010 | 2011 | 2012 | 2013 | 5-year trend | SG&A Expense | 5.8B | 5.99B | 6.68B | 7.41B | 7.78B | | Research & Development | - | - | - | - | - | | Other SG&A | 5.8B | 5.99B | 6.68B | 7.41B | 7.78B | | Other Operating Expense | 0 | 0 | 0 | 0 | - | | Unusual Expense | 597.8M | (79.6M) | (84M) | (17M) | - | | EBIT after Unusual Expense | (597.8M) | 79.6M | 84M | 17M | - | | Non Operating Income/Expense
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