Income

The traditional view of property taxes was originally expressed by Dick Netzer in 1966 in his book Economics of the Property Tax .Netzer argued that a property tax is shifted forward to the consumer through an increase in house prices, the approach he used was the partial equilibrium approach where property taxes are considered as separate payments for capital and land. The supply of capital is considered to be perfectly elastic, and the supply of land is considered to be perfectly inelastic the…

risks.” (Risk Assessment, 2017). An auditor doing a risk assessment would look at materiality, results from previous audits both internal and externa, data sources, among others and the auditor must look at the level of risk as well. Reviewing the income statement for Kroger Company there was an increase in Sales/Revenue for the year 2017 over 2016: 115.34B vs 109.83B respectively. While this increase of 5.01% is promising, the company’s…

SFAS 142 took effect in 2001, goodwill resulted from an acquisition, and it could be amortized for up to 40 years. Since amortization expenses were recorded in the income statement, they affected a company’s earnings. As a result, many companies used the maximum 40 years to minimize the effects of the amortization expenses on the income statements. What is more, management could intentionally inflate the goodwill value in the balance sheet by only taking a few depreciation expenses for each…

have considered. The CK & Co accountants who prepare your personal tax returns will ask you about these and many other items to ensure that nothing is overlooked when we prepare your taxes. We keep up-to-date on everything that can affect personal income taxes. Business We’re about more than tax planning at CK & Co. We provide comprehensive business planning and consulting services that will help you meet your goals. Whether you’re thinking of starting a new business or have been in business…

noninterest income is significant and positive, suggests that banks with high share of noninterest income are inclined to join Facebook. Further, the coefficient of intermediation cost is significant and positive, which confirms that efficient banks tends to invest in new technological innovation even though it may increase operating cost in the short term. In general, efficient banks have the relatively higher productivity and they can offer to invent in new technological…

would also seem to look at the way how the income tax calculation would be affected by the change in the tax bill. Discussion The major impact that the transition from GAAP to IFRS is that how the tax bill of the organization is going to be affected. The onus is on the CPA’s to make sure that they took into account this impact and started to carry out the beforehand of this working. As per the exposure draft that sets new standards regarding the way the income tax is supposed to be calculated…

article : “ Should There Be a Tax on Soda and Other Sugary Drinks?”, published in the wall Street Journal “taxes on sugary beverages are regressive and would hurt the poor”. While it is true that sodas and sugary beverage are the mostly consumed by low income working family; however, the amount of tax per ounce and the effect aren’t harming the poor families, but it is the opposite, they are the biggest beneficiary of this tax in the short and the long term. First of all, the tax is not big…

If I was the CEO of Countrywide Financial, I would incorporate a strict protocol regarding guidelines on income, appraisals, and documentation. I would use this protocol to structure the evaluations of salespeople to prevent them from making unethical loans to borrowers to simply receive increased compensation. I would structure the evaluations of salespeople to account for documentation verification. This verification process would total 85% of their total evaluation score. By increasing the…

proceeds from the transfer should be reported as a liability. Computing gain or loss ASC 860 also explains that if the sale of receivables is recognized as a true sale, receivables should remove from balance sheet, and then, recognized gain or loss in income. The transferor also should anticipate chargebacks from the transferee by estimate effects of any defects in the eligibility of the transferred receivables or called as recourse obligation. The recourse obligation is measured at its fair…

Ethical Theory and Test Analysis The following section of this study will dissect the two opposing tax systems and analyze them through the lenses of two major ethical theories, Universalism, and Rawls’ Distributive Justice Theory. Both theories will discuss the three ethical questions presented in the beginning of this paper and present which theory most closely aligns to the principles of each theory. Universalism seeks to create a system in which all participants would be willing to see…