Why are accounts important To begin by why accounts are important‚ a person should first know what accounts actually mean. Accounts are financial records of an organization that register all financial transactions‚ and must be kept at its principal office or place of business. The purpose of these records is to enable anyone to appraise the organization’s current financial position with reasonable accuracy. Firms present their annual accounts in two main parts: the balance sheet‚ and the income
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However if they are bought they are not to be sold in order to generate any future profits for the business. An example of the type of fixed assets which would be purchase by businesses and not used would be things like machines‚ warehouses‚ equipment‚ land etc. Expenditure would be the money spent by the business that can be split into
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2-8 The Wendt Corporation had $10.5 million of taxable income‚ a) What is the company’s federal income tax bill for the year? Answer: $3‚575‚000 50‚000*.15=7500 (75000-50000)*.25=6250 (100000-75000)*.34=8500 (335000-100000)*.39=91650 (10000000-335000)*.34=3286100 (10500000-10000000)*.35=175000 b) Assume the firm receives an additional $1 milion of interest income from some bonds it owns. What is the tax on this interest income? Answer: Tax on just the extra million taxed as ordinary
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Notes The business environment consists of a range of major influences that are outside a business. These include political‚ social‚ legal changes that affect business. However‚ most business people will tell you that it is changes in economic factors that they fear most because they can have such a dramatic effect‚ as witnessed by the global economic crisis of 2008-09. Economic environment The economy is made up of millions of individual decision makers who buy and sell goods‚ borrow and lend
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Unit 2 P3 and M1 Physical and Technological Resources in an Organisation Tesco Tesco PLC are a team of 530‚000 people in 12 markets dedicated to bringing the best value‚ choice and service to their millions of customers each week. Tesco was founded in 1919 by Jack Cohen and started out as selling products from a market stall. The Tesco name first appeared after a shipment he ordered for tea from T.E. Stockwell so he combined those initials with the last two letters of his surname to make Tesco
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Unit 2 Vocabulary & Concepts Please print out the following Vocabulary & Concepts for Unit 2. This is to give you a more specific idea of what we will cover during the next 4 (or so) weeks. Keeping a notebook would be a great idea. This should be in it (right after the General Outline for Unit 2)!!! We will begin Unit 2 in depth this week. By the end of the Unit‚ I expect you to have defined all of the vocabulary. You may begin this week if you would like. If you don’t have a book‚ you may
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Unit 2 P1 Task 1 - Define aims and objectives. (P1) Businesses set aims and objectives‚ so as to be able to measure their progress towards their stated goals for a particular financial term or business period. Aims indicate where the business wants to be in the future‚ whereas objectives set a clearly defined target for the business. In most businesses‚ plans are drawn up for the business to achieve these aims and targets. Aim - is where the business wants to go in the future‚ its goals. It
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alter the political‚ economic and ideological relations between Britain and its American colonies? Document 1 NORTH AMERICA BEFORE 1754 Use the documents and your knowledge of the period 1740-1766 in constructing your response. Document 2 Source: Canassatego‚ Chief of the Onondaga Nation of the Iroquois Confederacy‚ speech to representatives of Pennsylvania‚ Maryland and Virginia‚ 1742. We know our Lands are now become more valuable. The white People think we do not know their Value:
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Economics Unit 2 Paper 2 June 2014 Cape Exam N.L. 1) a) Intermediate goods- goods and services purchased for resale or further processing or manufacturing. b) I) GDP only includes the market value of final goods‚ not intermediate goods because the value of final goods already includes the value of all intermediate goods used in producing them. (Including the value of intermediate goods would amount to multiple counting‚ and that would distort the value of GDP) II)
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ACCA Paper P5 Advanced Performance Management December 2011 Interim Assessment – Answers To gain maximum benefit‚ do not refer to these answers until you have completed the revision mock questions and submitted them for marking. PAPER P5 : ADVANCED PERFORMANCE MANAGEMENT © Kaplan Financial Limited‚ 2011 All rights reserved. No part of this examination may be reproduced or transmitted in any form or by any means‚ electronic or mechanical‚ including photocopying‚ recording‚ or by
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