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A career in taxation is by no signifies limited to public accounting. for the reason that there are so many types of taxes impacting so many aspects of our lives tax specialists act as consultants in a large number of fields. For instance many companies offer deferred compensation or stock bonus plans to their executives. Almost all companies provide some sort of pension or other retirement plan for their employees and health care benefits. Major tax savings is able to be generated for both the company and their employees if these benefits are structured correctly. In reply to the amazing complexity of our tax laws many schools offer masters degrees specializing in tax. Such a degree isn't required to specialize in tax but does offer students a significant advantage if they want to pursue a career in taxation. In a recent review of 1400 chief financial officers the top two responses to the question which one of the following areas of specialization would you recommend to someone just beginning his or her career in accounting? Were tax accounting and personal financial planning. These responses reproduce the indisputable fact that as the US demographic includes more wealthy and older Americans than ever before professional tax guidance will be in ever-increasing demand.
Q. What is Working capital? Working capital -- current assets minus current liabilities. In most businesses majorcomponents of working capital are cash, accounts receivable and
Determine about the revenue section Revenue section provides a figure for net sales, which is balance of the Sales account, less the balances of contra sales accounts. (Sales -
Q. What do you mean by Management consulting ? Management consulting or advisory services before Sarbanes-Oxley management advisory services were the fastest growing service ar
John is considering the best capital structure for his firm. Suppose there are two capital structures for him to choose from. Structure A would have 7,000 shares of stock and $160,
Q. A company would not acquire treasury stock a. in order to reissue shares to officers. b. as an asset investment. c. in order to increase trading of the company's stock. d. to ha
Materiality Concept: There are several events in business that are trivial or insignificant in nature. The cost of reporting and recording such events will not be justified th
Cargin Company uses the FIFO method in its process costing system. The Assembly Department started the month with 15,000 units in its beginning work in process inventory that wer
1. Carmen Santiago works for a number of businesses as a "consultant." She has helped design accounting systems, provided accounting services, and analyzed the financial stre
Personal Account is an account for use by an individual for their own requirements. It is a relative term to distinguish the said accounts from those accounts for corporate or busi
WHO PREPARES A TRADING ACCOUNT AND WHY?
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