location‚ for example when companies hold a teleconference with several employees located in different branches or when they allow employees to telecommute from home. In some cases‚ this can save companies money because they do not have to pay travel expenses. When employees use technology for telecommuting‚ they can work in the comfort of their home instead of traveling to a workplace. Benefit: Saving Time Technology can decrease the time it takes to accomplish a task‚ which can ultimately save money
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relevant educational tax credits and want you to focus just on the deductions. Business expenses are the cost of carrying on a trade or business. These expenses are usually deductible if the business is operated to make a profit. Business expenses are the cost of carrying on a trade or business. For 2012‚ the standard mileage rate for the cost of operating your car for business use is 551 2 cents per mile. Car expenses and use of the standard mileage rate (26 U.S.C.A. § 162)‚ (26 U.S.C.A. § 170)‚ (Publication
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Yucheng Tang ID:42967546 WEEK 8 9.6 explain how economic trends and changing consumer preferences may impact on the sales forecasting of an airline company. An: If the economy is declining‚ inflation‚ the average income of lower and declining purchasing power‚ the frequency of economic activity decrease‚ Private and business travel will be decrease. The sales budget is bound to reduce. On the
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expenditure? • Refreshments bought to sell at the tuck-shop and bar/coffee shop • Expenditure on cost price of the club jerseys and socks that get sold at the Kit shop • Operating expenses such as water‚ electricity‚ etc. • Maintenance expenses What ledger accounts are you using in your system in order to record these incomes and expenses‚ focussing on those that are different from businesses? • Membership Fees • Membership Fees Written Off • Entrance Fees • Refreshments • Income and Expenditure
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Task one‚ P1. The Main Purpose of Accounting Keeping track of transactions and recording revenue and expenses are an important process‚ often assigned to an accounting department or a financial manager. Accounting allows companies to provide reports and insights needed to make sound financial decisions. The main purpose of accounting is to identify and record all activities of the income and the outcome that will affect the organisation financially. All activities‚ including purchases‚ sales
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“Why?” This would lead to research on how money was being reported in the books and as a result‚ the team would have found that WorldCon was substantially overstating their profits by writing off the phone-line leases as a capital expense instead of an operating expense. Cooper’s team then would be left with a decision‚ to hold back on findings‚ which would falsify the records‚ or to reject Sullivan’s request and potentially bring the company down? As a member of Cooper’s team‚ I would
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taught Alex mathematical models when Alex was a student. This measurement is also composed by three elements‚ which are Throughout‚ Inventory and Operational Expense. Throughput is the rate at the system generates money through sales. Inventory is all the money that system has invested in purchasing things which it intends to sell. Operational expense is all the money the system spends in order to turn inventory into throughput. The goal for making money
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Tax Research Case Travel expense deduction A551 fall 2012 December 4‚ 2012 I. Facts The tax payer‚ Miss Teecher‚ is a teacher who teaches Latin American in high school for 4 years. She is 28 years old and single. She plans to have a travel to South America from June 4 to June 11 through the local university. She thinks it is a business travel since it can enhance his teaching abilities. She plans to spend about 2‚000USD during the trip. She wants to take 2 days to have sightseeing. Her
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in February‚ and $31‚500 in March. Other budgeted cash receipts: (a) sale of plant assets for $18‚525 in February‚ and (b) sale of new common stock for $25‚275 in March. Other budgeted cash disbursements: (a) operating expenses of $10‚125 each month‚ (b) selling and administrative expenses of $18‚750 each month‚ (c) dividends of $28‚500 will be paid in February‚ and (d) purchase of equipment for $9‚000 cash in March. The company has a cash balance of $15‚000 at the beginning of February and wishes
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calendar year taxpayer‚ paid for various deductible expenses as described below. 1. The payment was dropped in the mail before year end. 2. P gave a note evidencing her promise to pay the amount in three months. 3. The amount was charged on her Master Card on December 28. The charge appeared on her bill for the period December 1 through December 31‚ which she received in January and which she paid on January 20. The bank actually paid the expense in January. 4. The amount was paid using the pay
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