Generational accounting

Deaccession One of the many obstacles today that Museums must work around is deaccession. Deaccession is “to sell or otherwise dispose of an item in a collection (Webster). Museums use this method by “permanently removing an artifact/artwork by gift, exchange, sale or destruction from a collection” (Principles of deaccession). A reasonable concern for the artifact must be acknowledged before a deliberation can happen about the removal of an object from a collection (principles of deaccession).…

Canadian Tire hosted a million dollar giveaway, where it is visibly guaranteed that a lucky shopper will win a prize of one million dollars. When the underlined “will” is seen, it suggests that the winner of the giveaway is certainly receiving the listed prize money. An asterisk is placed beside the word “win”, meaning there is further information regarding the winning factor of the prize. The money piles are all in Canadian dollars which lead to the assumption that the prize will be in Canadian…

determine the profitability of XYZ’s investment. DT LLC’s accounting department believes analyzing the computer system investment through three separate depreciation methods would give a comprehensive overview of the return on this investment. DT LLC used the straight-line depreciation (SLD) method to calculate annual depreciation by taking the initial investment of 42,500,000 and dividing it over ten years to get 4,250,000. Our accounting department reports the following annual depreciation…

This office represents Nicole Braun with respect to two promissory notes signed by SITO’s former Chief Executive Officer, Jerry Hug. A copy of each of those notes is enclosed with this correspondence. The context of each of these notes was service provided by Mr. Hug, as an officer of SITO regarding the attempted disposition by Nicole Brown of restricted SITO shares. Mr. Hug repeatedly represented to Ms. Braun that he had the full authority on behalf of the Company to assist with the disposition…

Deepwater Horizon The Deepwater Horizon offshore drilling unit and Macondo Well explosion on April 21, 2010 was only the latest in a line of recurring issues and near misses in the high risk production of oil and gas drilling platforms. Most of these near misses and issues can be traced back to a common set of characteristics relating to system defects, safety violations that went ignored, human factors and a lack of organizational integrity (Kurtz, 2013). Comparisons from experts in two…

According to Marisa Warford, “switching from a traditional leave program (sick time and vacation) to a paid-time-off system can have multiply advantageous for employees” (2014, para. 1). For instance, employees can use their PTO for taking a vacation, going to doctor appointments, for a sick leave, or for personal days off from work. Another reason why having a PTO system in effect, is that it can make a significant difference in the amount of unscheduled absence (Warford, 2014). In other words,…

In this paper I will identify the reason why Jackson and Kara Erb will not receive a refund from the prior year, how their refund and taxes due were calculated, as well as why they were not subject to the alternate minimum tax (AMT). These aspects will be answered from information provide as well as from the scenario presented between a Tax Accountant Peggy Sue as she explains to her new clients Jackson and Kara Erb by utilizing the class textbook, lessons, and other reputable sources. Not until…

Topic #1: Introduction to Capital Gains Question #1: What are the potential positive tax implications for transactions that qualify for capital gains treatment? Answer: If a taxpayer's transactions are deemed to be capital in nature, then a tax benefit may be present. Specifically, capital gains that are long-term in nature are subject to the preferential capital gains tax rate. In order for transactions gain to be listed as long term, typically the seller had to hold the asset for more than…

Brian Bonar Brian Bonar is a career investor and financial expert based in the Greater San Diego Area. According to CrunchBase.com, Bonar is the long serving Chairman and CEO of Trucept Inc and Dalrada Financial Corporation. Trucept, Inc is a Professional Employer Organization (PEO) focused on providing temporary staffing, employee benefits and insurance and services. Dalrada Financial Corporation, on the other hand, specializes in providing wide ranging financial, benefit, insurance and…

Question 1 Accounting standards The accounting standards used by the organization in Australia, to prepare financial report under Corporations Act 2001 s296, are set by the Australian Accounting Standards Board(AASB). The accounting standard contains the matters to be disclosed in the financial statement. All the public and private sectors should apply these accounting standards to prepare the general purpose financial reports. Whenever the general purpose financial report is prepared,…