Chapter 1 Questions 1. How important is international trade to the world economy? a. International sales and trade can be a source of higher profit margins through additional sales. Unique products or technological advantages can provide competitive advantage that a company wishes to exploit by expanding sales in a foreign market 2. What accounting issues arise for a company as a result of engaging in international trade? b. New accounts added to the chart of accounts‚ foreign
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1 TRANSFER OF RESIDENTIAL PROPERTY – CAPITAL GAINS AND EXEMPTIONS UNDER SS.54 & 54F BY MS. JANANI SHANKAR‚ Student‚ NALSAR & Trainee‚ SAPR Advocates Ms.B.Mala‚ Senior Associate‚ SAPR Advocates Note : The scope of this article is restricted to examining certain aspects of LongTerm Capital Gains which arise during transfer of residential property. TABLE OF CONTENTS 1. Capital Gains 2. Computation of Long-Term Capital Gains (i)Computation of cost of acquisition /cost of improvement
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No Pain‚ No Gain Moving into another state was harder than what I thought. When your family tells you it will be just for a few months‚ it can turn out to be even more than that. Not being able to talk to my friends and loved ones as often as before made me feel out of place. Being in a position where becoming stronger the only option. Having to leave the past and begin to look into the future. I had to search what was best for me regardless the limits or obstacles. July‚ 2009 a hot night in
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MCQs in lecture from ch 2 1. Accounting theories should be A. Inductive B. Deductive C. Descriptive D. None of the given options is correct 2. Which of the following statements is true about accounting measurements such as profits and assets? A. They are subject to professional judgment B. They would not vary if prepared by different accountants‚ providing they were based on the same set of accounting standards C. They are based on hard‚ objective‚ evidence
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No Pain No Gain The phrase “No pain; no gain.” First came to prominence circa 1982 when actress Jane Fonda started using the phrase in her aerobic workout videos to encourage the viewer to push past the soreness of the muscle so they could gain the result they desire. Although the “No pain; no gain” philosophy is most often associated with fitness‚ it has undeniably become largely used in life in general. Often in life‚ in order to get what we want‚ we have to do things that are not exactly to
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Explain the gains from trade and the implications for trade negotiations Trade is the transfer of goods and services from one person or entity to another in return for something in exchange from the buyer. The fundamental force that drives trade is David Ricardo’s law of comparative advantage; that is‚ the ability of an individual or group to carry out a particular economic activity (such as making a specific product) more efficiently than another activity. One country cannot have a comparative
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Exchange Gain (Loss) at year end | Brazilian reals (BRL) | 55‚000 | 0.5697 | $31‚333.50 | 0.5716 | $31‚438.00 | ($104.50) | Guatemalan quetzals (GTQ) | 255‚000 | 0.1185 | $30‚217.50 | 0.1180 | $30‚090.00 | $127.50 | Mexican pesos (MXN) | 400‚000 | 0.0777 | $31‚080.00 | 0.0767 | $30‚680.00 | $400.00 | | | | | | | $423.00 | 2. Determine the foreign exchange gains and losses that Portofino would have recognized in net income in 2009 and 2010‚ and the overall foreign exchange gain or loss
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The Impact of the Islamic Religion on the Harmonisation of International Accounting Standards Justin Lingard – S200990 October 2010 Table of Contents Introduction 4 User requirements of financial reports 5 IFRS Compliance Issues with Shari ‘a law 6 Riba 6 Gharar 7 Zakat 7 Conclusion 8 References 10 Introduction Islam is the world’s second largest religion with over 1.65 billion followers‚ which constitutes 24% of the world’s population (Kettani‚ 2010). Islam is a religion
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CAPITAL GAINS According to income tax act 1961 ‘capital gains’ is the fourth head of income. Any profit or gains arising from the transfer of capital assets during the P.Y. shall be chargeable to income tax under the head capital gains and shall be deemed to be the income of P.Y. in which the transfer took place. Thus from a plain reading – Profits or gains earned on the sale of capital assets by an assessee during the P.Y. is called as capital gains. Meaning of Capital Asset: Capital asset means
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Lance Sataraka Period 2 12-13-12 No Pain‚ No Gain No pain no gain How much of you have had to sacrifice your time or change your plans to go and do something else like go practice or work on something? What is pain? What is gain? In my family my mom‚ dad‚ and sister had to constantly had to sacrifice their time to get to their goal. It took them a lot of time‚ blood‚ and sweat to reach where they are right now. I am the only one in my family that hasn’t worked hard
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