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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.
Money owed by a business enterprise for merchandise bought on open account. It is also known as "A/R" or just "Receivables". Accounts Receivable is the quantity owed to a company
ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account. elaborate on the statement and explain why journal is neces
WHAT IS THE MEANING OF INVENTORY TURNOVER
State the term- Debits must always equal credits To help understand Temporary Owner's Equity accounts. All transactions which affect owner's equity could be recorded in one
Q. Advantages and Disadvantages of LIFO? LIFO: Advantages (a) LIFO reports both sales revenue and cost of goods sold in current dollars and (b) lower income taxes result if use
i dont undrstnd t concepts of assets and liabilties n also journal entries thnks
Importance of The bank statement Bank sends out bank statements each month. It's significant that this statement and checking account balance balances. There are certain items
Accounting for payroll Employer Taxes and Reports Everyone who works should have a social security number. All employers in this country who have at least one employee should h
Q. What do you understand by Deferred income? Deferred income -- a liability which arises when a company is paid in advance for services orgoods that will be provided later. Fo
example of increase asset, decrease owner equity
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