FINAL EXAM TEAM BUILDING REVIEW NOTES PART ONE A. MANAGEMENT INTRODUCTION a. Management definition • Achieving the goals of the organization using the resources of the organization efficiently and effectively b. Mission Statement • A concise statement that summarizes the goals of the organization for consumers‚ investors‚ and employees c. Value and Price • As value increases‚ so does price‚ and vice versa; direct correlation between the two d. Channel of Distribution • MFG-Wholesaler-Distributor-Retailer-Consumer
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definition of a company. Professor David Bakibinga in his book company law in Uganda at page 2 defines a company as an artificial legal entity separate and distinct from its members or shareholders. This legal person is distinguishable from natural personality. Natural persons are born by natural people/persons and their lives end at death‚ artificial persons (corporations) are created by law and their existence is ended by the law. The possession of a legal personality implies that a company
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does she face? The painting is a ordinary asset‚ and she needs to treat the sale of it as a ordinary gain‚ unless she wants to treat it as a capital gain (Hoffman‚ 2013‚ p 16-5). 5. Is a note receivable that arose in the ordinary course of the taxpayer ’s retail business capital asset? Why or why not? A note receivable is not a capital asset; it is an ordinary asset and generates ordinary income (Hoffman‚ 2013‚ p 16-4). 7. Michael is a "bond trader" who buys and sells bonds regularly for his
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PROBLEM IDENTIFICATION Provide short description of the problem‚ clear description of the company’s current situation (Don’t have to discuss the situation too much) Identification of main problems in the case Determine main issue to solve What went wrong financially and strategically? EXTERNAL ANALYSIS Apply five forces model and evaluate the industry‚ analyze general environment if needed Draw strategic implications of analysis result‚ so what?... Provide conclusion to the industry analysis
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Chapter 1. Legal forms of business organization A. Sole proprietorship: A business owned by a single person and which has a minimum amount of legal structure. 1. Advantages a. Easily established with few complications b. Minimal organizational costs c. Does not have to share profits or control with others 2. Disadvantages a. Unlimited liability for the owner b. Owner must absorb all losses c. Equity capital limited to the owner’s personal investment d. Business terminates immediately
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Discuss whether taxation is the most effective solution to the market failures arising from negative externalities. Negative externalities are defined as‚ “[negative] third party effects arising from production and consumption of goods and services which no appropriate compensation is paid.” This means the marginal cost curve only takes into account the private costs and not the external/social costs‚ and so there is an overproduction of the good or service. This misallocation of resources means
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Advanced Taxation Lecture 1 Indirect Taxation 2012 Dr Nakha Ratnam Somasundaram Advanced Taxation 1 Indirect taxation 2012 Dr Nakha Ratnam Somasundaram - Advanced Taxation 2 Indirect taxation • Indirect taxes consists of the following taxes: – – – – Sales tax Service tax Excise duty Customs duty • These taxes are collected by the Director General of the Royal Malaysian Customs. 2012 Dr Nakha Ratnam Somasundaram - Advanced Taxation 3 ROYAL MALAYSIAN CUSTOMS: HTTP://WWW.CUSTOMS.GOV
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money. In FCT v Cooke & Sherden (1980) an incentive prize offered by a manufacturer was not income of the winning retailers because it was not transferable and so not convertible into money. 2.Capital does not have the character of income: For tax law purposes we need to distinguishing income and capital for several reasons: a) ordinary concepts notion of income does not include capital; [see below] b).general deductions [and some specific deductions‚ eg: repairs] specifically excludes deductions
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Democratic ideals- Taxation Nozick Because a just government cannot violate the negative rights of its citizens I negate the resolution: in matters of U.S. immigration policy restrictions on the rights of non-citizens are consistent with democratic ideals. Definitions: According to US immigration law‚ immigrants are persons lawfully admitted for permanent residence in the United States. As we are only looking toward those lawfully admitted we must only look legal non-citizens and illegal immigrants
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include "noise laws" that restrict the amount of noise allowed in a neighborhood‚ weight limits on vehicles on certain roads‚ and "leash laws" for pets when they are outside. Another increasingly common ordinance is the banning of skateboards and inline skates in public parking lots. State laws have a wider impact than local ordinances. They set speed limits‚ define criminal acts‚ and regulate areas of life like car insurance‚ unemployment‚ welfare‚ and education. Some examples of state laws include high
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