return shall be signed and verified by one of such fiduciaries. When and Where to File The return shall be filed on or before January 31 of the year following the calendar year in which the compensation payment and other income payments subjected to final withholding taxes were paid or accrued. The return shall be filed with the Revenue Collection Officer or duly authorized City/Municipal Treasurer of the Revenue District Office having jurisdiction over the withholding agent’s place
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Substantive Audit Testing: Revenue Cycle 1. Substantive Audit Testing: Revenue Cycle 2. MULTIPLE CHOICE: 3. 1. Which of the following might be detected by an auditor’s review of the client’s sales cut-off? 4. a. Excessive goods returned for credit. 5. b. Unrecorded sales discounts. c. Lapping of year end accounts receivable. d. Inflated sales for the year. 6. ANSWER: D 7. 2. Which of the following forms of evidence represents the most competent evidence that a receivable actually exists? 8. a. A
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Revenue Cycle and Control Activities The revenue cycle for many companies is considered the primary source to earn revenue from the sale of goods or service. Good controls must be established to maintain the effectiveness of receivables and credit sales‚ not doing so can harm the company and might be costly to the business. Six classes of internal controls guides us in evaluating and designing transaction processing. They are authorization‚ supervision‚ segregation of duties‚ access control‚ independent
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Since the beginning of civilization sex has always been seen as a marketable item. Its been used to satisfy the wants and needs of society‚ specifically men. Sex as a commodity has had an impact on the way we think and feel. Regardless of all the sexual commodities‚ prostitution can be argued as the oldest sexual marketable item. Prostitution is defined as promiscuous and mercenary sexual behavior with emotional Indifference between the partners. There isn ’t a more specific definition because
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Curaçao. It provides an in-depth look into the cost control systems surrounding food and beverage service of the hotel. Within the hospitality industry the food and beverage department in a hotel is one of the departments that generate the enormous revenues. According to the National Restaurant association report in Restaurant Industry Operation‚ 1995‚ food and beverage cost range are as follows”: Foods cost range: 26.5% - 42.5% * Beverage Cost Range: 21.0% - 44.1% * (*) Keeping in mind
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adequate revenue. It is based on this fact that there was the need for the government to levy taxes on the income of the legible citizenry. The Ghana Revenue Authority (Domestic Tax Revenue Division) is charged with that utmost responsibility of levying and collecting taxes on the incomes of individuals such as the Employed and Self-employed‚ (Income Tax)‚ corporate bodies (Corporation Tax)‚ Capital Gains (Capital Gains Tax) and others. Income taxes are different from other sources of revenue in that
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Q3: Should Apple lobby the FASB to change the revenue recognition rules for smartphones? In our opinion‚ Apple should lobby FASB to change the revenue recognition rules for smartphones‚ given the following reasons:- 1. Under “non-GAAP measures”‚ Apple’s performance looked much better than that under GAAP measures. Please find below a table1 summarizing the differences of key financial data between GAAP and non-GAAP measures for the fourth quarter of 2008:- Q4 2008 GAAP ($ billions) Non-GAAP
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Riordan Manufacturing Revenue Cycle Accounting information systems provide the tools to operate and maintain important data related to an organization and interpret the information to develop quality financial reports. The revenue cycle of Riordan Manufacturing reflects sales and the components associated with sales such as inventory‚ freight‚ cost of goods sold and accounts receivable‚ yet this information is not readily available to each facility. Because the forecast for the company is positive
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associations‚ joint-stock companies‚ and insurance companies. IRC 7701(a)(4) (4) Domestic The term “domestic” when applied to a corporation or partnership means created or organized in the United States or under the law of the United States or of any State unless‚ in the case of a partnership‚ the Secretary provides otherwise by regulations. IRC 7701(a)(5) (5) Foreign The term “foreign” when applied to a corporation or partnership means a corporation or partnership which is not domestic. Reg 301-7701-3(a);
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is a 4-hour multi-symptom‚ over-the-counter‚ liquid medicine used to treat colds‚ coughs‚ and allergies. Allround is typically used at night because of the strength of the medication and because the alcohol and antihistamine helps consumers rest. When LSD&J took over as Brand Managers‚ our strategy was two-fold; grow the top and grow the bottom of the company. Our goal was to make the company strong and stable to ensure Allstar remains one of the top brands of medicine for years to come. Our strategy
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