Public finance

Under the Income Tax Assessment Act 1997, a taxpayer's total capital gain consists of both net capital gain subtracted from their net capital losses for the financial year (July 1st to June 30th). Variations on income tax liability depend on whether the taxpayer has made either a capital gain or a capital loss.1 Capital gains occur whenever costs are less than the gains on a capital asset. Conversely, capital losses arise whenever costs exceed a gain. 2 The most common event for taxpayers…

Financial Crisis The global economy has adopted many different international monetary structures to stabilize economies. States struggle to decide between a combination of two of three major monetary objectives - capital mobility, fixed exchange rates, and sovereign monetary policy. The global economy has adopted several forms in recent history, however, these structures have been conducive to financial crises. The collapse of the Gold Standard, the Interwar Period, the collapse of the…

ethical issues discussed in class and provide examples of how accounting is much more than the numbers. In addition, the paper will include additional research in regards advices that will help me in the future to fulfill my responsibility to serve the public interest and avoid sliding down the slippery slope. Lastly, I will conclude with the lessons that I learned by taking this course. Through this class, I had the opportunity to understand better how the work of a CPA is more than just…

During the year, KapConsulting experienced an unprecedented financial performance, which is an additional indication of the company’s ability to be competitive in the growing consulting market. Highlights of our financial performance are as follows: • Total gross profits reached $73,500 • We met our objective of keeping operating expenses under 60 percent of the gross profit with them only representing 52 percent of gross profit • The year’s net profit before taxes reached $32,290 • We saw a 100…

Coal companies are making big bucks by digging up land in search of coal and in the process they’re barely cleaning up the mess they made. They have the money to do the cleaning up, but they don’t want to pay it. Even regulators are fearing a one billion dollar coal cleanup bill. If it was up to the coal companies they would leave the $1 billion bill for the taxpayers to deal with. Michael Corkery states that, “ The regulators worry that coal companies will use the bankruptcy courts to pay off…

major events, one for patrons and the other for the general public, production of image documents for the direct mail campaign and renewal campaign, design of sponsorship plan materials, payments to third party suppliers and image marketing outlets such as interviews, news paper posts, subway/taxi advertising and advertising at the main airports and stations. Also, MAMBO’s communication department will be conducting member surveys, general public surveys and major art character interviews in…

Currently, the two most common mortgages are conventional and FHA. FHA is nothing more than a big insurance program for lenders. FHA is not lending you any money, they are just insuring the lender that you are obtaining your loan through against default. When choosing between an FHA and conventional mortgage you must ask yourself a few questions.... Is my credit good? Even though the minimum credit score requirement on a conventional mortgage is 620, there are extra fees charged to you if your…

Arbor's Oklahoma City Office Originates Nearly $30 Million in Loans Arbor Commercial Mortgage, LLC (“Arbor”), national direct commercial real estate lender, announced in November that it funded six loans totalling nearly $30 million. Under the Fannie Mae DUS Small Loan, Freddie Mac Small Balance Loan, and FHA 223(f) programs, the mortgage company was able to secure the funding across multiple cities in Michigan -- with Vice President Mike Jehle of Arbor’s Oklahoma City office originating the…

Secrets of the Family Budget Plan By Andrew Bicknell Aug 18, 2007 With the rising cost of everyday items today creating a family budget plan is becoming more and more important to keep track of where your family's money is going. Making your money work for you is the ultimate goal of any budget, but you need to be patient if you have never made a budget before. Most financial problems, both personal and family, are a result of poor budgeting skills or the failure to follow the budget that is…

returns” from my fellow students. To those whose parents are in charge of filing our taxes, tax season means finally receiving money back from our taxes. Many of us fail to acknowledge the amount of stress that is involved in budgeting and managing our finances in order to smoothly file our taxes. This is something we will all have to learn to manage, and some handle it better than others. I think this is an important thing to discuss with young people, before they start filing their own taxes,…