MA9902C00 Lecture Notes - Open Economy

3 views3 pages

mahimaajith0204

23 Feb 2023

School

Mahatma Gandhi University

Department

Accounting

Course

MA9902C00

Professor

For unlimited access to Class Notes, a Class+ subscription is required.

Document Summary

Large companies work across state and public limits. Since most wards charge pay that is procured inside their limits, it is important to decide the type of revenue of a multijurisdictional element. The conditions of the us follow a training that is very particular from that in the global circle. Public states generally resort to the show of "a safe distance" costs the costs that would win in exchange between irrelevant elements to decide the split of pay coming about because of exchanges between related parties. The states, by examination, utilize equations to partition the pay of a multistate partnership or a gathering of related companies participated in a "unitary business" between in- state and out-of-state pay. A few nations (counting the us) practice the option to burden the entire pay of their nationals, regardless of whether it is procured abroad.

Related Questions

Practitioners often draw parallels between the practice of international tax law and state tax law, given the jurisdictional and cross-border similarities. Describe the similarities and differences between international tax and state tax. What is the most challenging state issue related to foreign operations?

The Securities and Exchange Commission (SEC) regulates publiccompanies. The SEC has found that some of these companies haveviolated GAAP by using creative accounting practices to misleadinvestors and creditors regarding the health of their company.

A recent accounting scandal within the last five (5) years wherethe SEC accused public companies of accountingirregularities.

Analyze the audit report that the CPA firm issued. Ascertain thelegal liability to third parties who relied on financial statementsunder both common and federal securities laws. Justify yourresponse.

Speculate on which statement of generally acceptable auditingstandards (GAAS) that the company violated in performing theaudit.

Compare the responsibility of both management and the auditorfor financial reporting, and give your opinion as to which partyshould have the greater burden. Defend your position.

Analyze the sanctions available under SOX, and recommend the keyaction(s) that the PCAOB should take in order to hold management orthe audit firm accountable for the accounting irregularities.Provide a rationale for your response.

Use at least two (2) quality academic resources in thisassignment.

violetmuskrat248

The govt of bigtown is concerned about its revenues. It hasincreased it tax rate from 2.2% to 2.8% fr companies with netbusiness income exceeding $2M while at the same time reducing therate from 2.2% to 1.9% for companies with net business incomebetween $1M and $2M. Companies with less than $1M net businessincome are not taxed. Requirements: For each of the following 4situations: a, determine total projected govt revenues before andafter the tax increase. b, explain in couple of sentences whetherand why you consider this good or bad tax policy. Situation 1: Thetotal amount of net taxable business income for companies withincome exceeding $2M remains static at $50M and net taxable incomefor companies with income between $1M and $2M remains static at$100M for the entire town. Situation 2: total amount for the nettaxable business income decreases from $ 50M to $48Mfor companieswith income exceeding $2M due to business moving to a differentjurisdiction. The net taxable income for companies with incomebetween $1M and $2M remains static at $100M. Situation 3: the totalamount of net taxable income for businesses with income exceeding$2Mdecreases from $50M to $45M ue to bsiness moving to differentjurisdiction. However, total taxable income for companies withincome between $1M and $2M increased from $100M to $110M. Situation4: total amount of net taxable business income for businesses withincome exceeding $2M decreases from $50M to $47M due to businessmoving in different jurisdiction. However, total taxable income forcompanies with income between $1M to $2M increased from $100M to$120M.

aquamarinehorse977

MA9902C00 Lecture Notes - Open Economy

Document Summary

Get access

Related Documents

MA9902C00 Lecture Notes - Income Tax, Nuclear Family, Option Type

MA9902C00 Lecture Notes - Devaluation, Capital Market, Direct Tax

MA9902C00 Lecture Notes - Railways Act 1921, Endangerment, Job Sharing

Related Questions