Basic income

1. Introduction The financial statements prepared by a firm must be based on certain concept. Accounting concept is a guideline or regulation standards have been generally accepted and recognized in the processing and presentation of accounting data. The aim of concept is to ensure that financial reports were made honestly and fairly and to avoid distortion in the practice of accounting. Thus, the concept must be known to understand the accounting process. We want to discuss about meaning,…

2). Despite having the highest minimum wage in the country up until recent, $10.74, San Francisco 's income inequality does not show that it helps. According to a Brooking Institute report, San Francisco ranks second in income inequality in major U.S. cities only behind Atlanta(Puzder 2). Raising the minimum wage gives the illusion of helping the income gap, but in reality it only increases income inequality. Businesses will turn to automation as wages rise because of the decreased cost and…

HealthSouth was what seemed to be an ordinary striving medical business. Some would even say it was the most successful in its field , but unlike other corporations, it had a foul secret. All the grand success that HealthSouth was known for was a lie, a mask to hide what was going on behind the scene, hidden from the public eye. A secret so well hidden, that it went unnoticed for years. A secret so large it broke not only the law but several accounting principles. It was the rise and fall of the…

This also shows that non-market activities through the activities of the income do not enjoy any form of tax incentives. Again in the distribution of profits of commercial enterprises in the distribution of profits from the legal form of mandatory restrictions. For social welfare enterprises, the existing regulations do not explicitly stipulate the quota of the investors ' right of income, but only require that "the net profit retained by the social welfare enterprise is mainly…

individual Income tax. This related to the range from 10 to 39.6 percent, into three brackets of 10,20,25. This plan would retain current preferential tax rates of 0,15 and 20 percent on long- term capital gains and qualified dividends in relation to the couples with the income under $50 000 would be not tax deductible, only the 10 percent will apply to higher income than that. However, the 20 percent rate will relate to income from $100 000 to $300 000 and the 25 percent rate of income above…

rich should be taxed more and those who do not. For example, when voting for presidents, this problem is a major factor of who gets voted into office. The reason that the rich can be taxed without the rest of the country being taxed is, America’s income tax system is set up by using a graduated tax bracket. This means that the more money a person makes, the higher the percentage of money they have to pay. The rich should not be taxed more because they already pay the highest percentage of their…

Economic Growth Methods Being Used in Hong Kong and Singapore Taquitta Moss Macroeconomics Abstract Hong Kong and Singapore have distanced themselves from traditional culture based on the economy issues and have become more involved in industrialized concerns. To encourage growth and productivity in Hong Kong and Singapore, the World Bank has step in to help stabilized the economic issues. The World Bank is an important part of the financial and technical cooperation around the world…

In the income statement projections, other than the sales forecasts which are expected to fluctuate with time, other entries are expected to grow at a constant rate throughout the years. The net income at the end of the 10 years is expected to amount to $1,710,013, which shows that the company would have enough amount of money to grow its business with…

adding noncash charges (such as depreciation) to net income after taxes. The purpose of FASB rules applied to financial statement makeup are not about tracking the movement of cash through your business. They are concerned with the measurment profit or loss. Income does not explain what happened to your cash balance during the accounting period. It simply explains net income based on the accounting rules governing income statement creation. Net income is only one component of understanding and…

increased at a higher rate in the financial year 2014-15 as compared to 2013-14. Hence, it is important for Greencross Limited to cut down the expenses by taking necessary steps and implementing new financial strategies. The horizontal analysis of the income statement is presented in Appendix D for further…