Accouting Theory and Tax Rules

1. After preparing the tax return, if the client comes and shows that the deduction for overseas trip made for business purpose he has taken and shows the family photographs of that trip. Then more inquiry should be done from him and on what basis he wants to treat the business trip as business expense (Tpbgovau, 2017). If no proof shown then the tax return must not be proceeded as the client is trying to manipulate the actual income. 2. Taking reasonable care means that the tax prepare must know what exactly the client’s business is. Tax rules changes with business to business. For example, shares may be an investment for one person and trade for another. It will be treated differently. Therefore, there should be enough knowledge about the client’s state of affairs to know the impact of taxation on it and can be explained to the taxpayer (Tpbgovau, 2017). 3. Section 4.10 of the Income Tax Assessment Act 1997 states about how much income tax is to be paid and it states that the tax is to be paid for each financial year of income earned on the basis of taxable income calculated for that tax year (Austliieduau, 2017). 4. Current tax table and the details about the fees and the charges can be found on the Australian Taxation Office’s website under the heading â€Å"Tax rates and Codes† (ATOgovau, 2017). 7. The five legislations or the compliance requirements which can affect the recording of the transaction in the as per Australia Tax laws are as follows: 8. General Journal is the journal used for recording the transactions which are not fitting the criteria of specific journals such as purchase, sales, cash, etc. A correcting entry is recorded in the books of accounts in two ways. One is to reverse the Previous journal entry made and to enter the correct entry. Second method is to make a Single entry which when combines with the original corrects the actual entry. General principle to reconcile balance outstanding is to check which balances are recorded in cash Book and in pass book. Next, is to check which balances are not reflected in the cash Book or the pass book and accordingly the same is to be added or subtracted from the Pass book or cash book respectively. Any event or transaction which decreases the balance of the bank is to be debited as the Payment is being made or any amount is decreasing the bank balance. Tpbgovau. (2017). Tpbgovau. Retrieved 12 March, 2017, from https://www.tpb.gov.au/explanatory-paper-tpb-012010-code-professional-conduct Austliieduau. (2017). Austliieduau. Retrieved 12 March, 2017, from https://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s4.10.html Atogovau. (2017). Atogovau. Retrieved 12 March, 2017, from https://www.ato.gov.au/About-ATO/About-us/In-detail/Tenders-and-procurement/Contracting-in-the-ATO/Record-keeping-standard-for-ATO-contractors/?page=1 Iedunotecom. (2015). IEduNotecom. Retrieved 12 March, 2017, from https://iedunote.com/types-of-accounting-journal  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Accounting-simplifiedcom. (2017). Accounting-simplifiedcom. Retrieved 12 March, 2017, from https://accounting-simplified.com/accounting-for-bad-debts.html Atogovau. (2017). Atogovau. Retrieved 12 March, 2017, from https://www.ato.gov.au/Rates/?sorttype=SortByTopic Tpbgovau.(2017).Tpbgovau.Retrieved12March,2017,fromhttps://www.tpb.gov.au/sites/g/files/net1481/f/code_of_professional_conduct_aeu_reasonable_care_to_ascertain_a_clients_state_of_affairs.pdf?v=1469170810

Puritan Heritage Essay Example | Topics and Well Written Essays - 500 words

Puritan Heritage - Essay Example Such features as industriousness, desire to get knowledge, as well as restraint and adherence to morality are regarded as the features inherent to the Puritan conscience. To my mind, many value conflicts that are observed in the field of modern education cannot be properly investigated without understanding historical heritage. I think that similarities that unite both parts of the nation are partly defined by the legacy of the Puritans, so it is necessary to observe this heritage in its historical perspective, because it influenced many aspects of nation's development. I suppose that using experience of the past is necessary to forge out effective strategies for future successful progress, so understanding the sources of the mentality is extremely important for many sciences, and I find this issue to be important for educational discourse at the moment. Some facts described below will prove that the Puritans influenced both the characters and minds of the nation in the process of it s development. The Puritans were aware that the level of economical and political prosperity depends upon educational level of populati

Marketing in the Media 2013 Essay Example | Topics and Well Written Essays - 1500 words

Marketing in the Media 2013 - Essay Example In accordance to Cant (2006), marketing is mainly associated with any marketing media event since the company can display its latest products. It is paramount to note that marketing is mainly defined as the creation of awareness that a certain product exists through any paid method form of non-personal either through various mediums that include e-mail, direct mail, print, radio or participation in a marketing media activity (Pride & Ferrell, 2013). The major purposes of such events are for promoting and presentation of services, goods or ideas by any identified sponsor who for the purposes of this study is Samsung Electronics Company. There are various examples of mediums that a company can fully utilize, and they include web pages, posters, billboards, radio, print adverts and the television, which includes the mostly viewed television commercial on the new cell phone, the Galaxy Note by Samsung. Sam sung first created and aired the first commercial when the latest Super Bowl footb all game was taking place, and it was shown on television to create effectively awareness on the numerous benefits of the Galaxy Note prior to the marketing media event in Europe. This commercial differentiated the new Galaxy Note from a very particular competitor at the same time targeting a certain specific market segment. This also happened in the marketing media event on September 4th, 2013 at IFA in Europe (Bloomberg, 2013). This unique marketing media event displayed the new Samsung Galaxy Note in a very creative and effective manner that attracted huge numbers of people who were curious on knowing the Galaxy Notes benefits. On the screen was the advert where the features of the Galaxy Note were displayed, and they included the new phone’s screen that is larger, the included stylus, the camera capabilities as well as the video conferencing that the new phone can facilitate. The phone’s camera capabilities include the video; the camera’s features for both t he back and the front and when it is at still status (Bloomberg, 2013). The marketing media event by Samsung at IFA is relevant to marketing since it was taking place at IFA, which is the largest consumer-electronics show in Europe where it attracts many people. It is also an event where various companies display innovations and products, which mainly rival their competitors, and this was an exception to the Samsungs’ activity at the event (Armstrong & Armstrong, 2009). This is an event where various high-flying company marketers usually use their latest expertise and current trends to highlight their products. It is vital to note that such an event will normally be knowledgeable to any marketer with a passion on their professional carriers (Pride & Ferrell, 2011). However, such great events will always have marketing issues that are at stake considering the high level of sensitivity that normally goes with such highly publicized events (Gillespie & Hennessey, 2011). Recent r esearch by notable marketing researchers has extensively shown that such high-level events will have marketing issues that are most likely to take place, and it is therefore, the job of the marketers’ in-charge of these marketing events to strategize on how they will handle such eventualities (Kurtz & Young, 2009). Among the marketing issues that are at stake on such events include the possibility of the event being a failure due