If deferring this revenue will not be acceptable to the company's auditors, management would prefer to treat these "excess" sales as consignment sales, with the recognition of revenue taking place in 2001 or when the bottler eventually sells this product. CCL has approached you, Erin Greene, CMA, to provide an analysis of the financial accounting issues
As a business owner I would use accrual method only because it recognizes Receivables and payable. When using the cash basis a company can appear that it is earning profit when in fact it is loosing funds. Cash basis does not acknowledge money that is owed which make is very difficult to keep accurate records. The IRS generally requires companies to use the cash accrual basis of accounting on their tax return. The Internal revenue service does allow the cash method of accounting if certain criteria are met because tax laws change frequently it is essential to contact a CPA if a business owner decides to use cash basis of accounting.
But empirical literature ( See Feige and Cebula, 2011) shows that there is a positive relationship between tax rate and tax fraud. In the model of Allingham and Sandmo 1972, as well as for others models developed thereafter, it is supposed that after tax audit, tax administration has a comprehensive knowledge on the real value of the chosen taxpayer’s income. But in the reality, tax administration can't detect all the mistakes or the omissions and
Although there are some argument for and against for each theory, in my point of view, both theories are contributing to the accounting theory development. For the positive theory views, it has been discussing some areas in term of accounting choices and disclosure decisions. There were two theories which are positive accounting theory (PAT) and institutional theory (IT) explained accounting choices (Collin et al., 2009). First, PAT as a theory that seeks to explain why managers within the organization will select to adopt particular accounting method in preference to other. A set of firm-specific characteristics (earning-based bonus plans, debt and political process) linked to Costly Contracting Theory that explains management’s choice of accounting policies.
Defaulting on a charge card might prompt gathering endeavors, yet lenders can't take your resources for pay for the obligation. Some individual loans are viewed as unsecured loans on the off chance that you didn't set up any of your property as security for the loan. Defaulting on unsecured loan installments can prompt negative results, for example, harm surprisingly, unforgiving gathering endeavors and legitimate activity. Another illustration of an unsecured loan is an understudy loan. For the most part, understudy loans are dealt with truly by the loaning organization and defaulting on such loans can prompt critical results.
What will matter is not how many people you knew, but how many will feel a lasting loss when you are gone. What will matter are not your memories, but the memories that live in those who love you. What will matter is how long you will be remembered, by whom, and for what. Living a life that matters doesn’t happen by accident. It’s not a matter of circumstances, but of choice.
It also would be wrong to present myself as a very likable person when I know I am not capable of being that person. I would be found out sooner or later. I guess to summarize you could say the impression would not be used when the task or process at hand is of more importance than self-image (Kenrick, Neuberg, and Cialdini, 2009). The typical difference in these two situations is that in one case you care about the impression you make and in the other the impression is of no importance. During my military career the opportunity arose for someone to replace the facility manager, Chief Controller.
Candidates below the standard (e.g., examination score) are excluded from further evaluation. This constraint does not allow trade-offs between equally important qualifications, or a strong candidate solely deficient in a minor area. Similar constraints could exclude younger yet highly motivated individuals from entering public service early in their careers. Screening candidates solely on knowledge and past experience can miss traits important to a job such as motivation or integrity. As a potential candidate, I would be frustrated that my personal motivation and attitude would not offset any deficiencies I may have had during the screening process.
Moreover if a person does not possess these qualities I don’t feel I can honestly consider them as a friend. To begin with I look for trustworthiness. If a person is trustworthy I know I can share my apprehensions and vulnerabilities with them without them judging, or having prejudice thoughts. Also if a person is trustworthy anything personal that I disclose to them will not be repeated to anyone else. A trustworthy person will not steal or take anything that belongs to me without my permission.
Failure in one realm need not disrupt the structure of the whole life. Of course, no amount of layering can guarantee protection against alienating disruption. For some, loss or acquisition of belief in God might have this effect. Layering of one’s life concerns, rather than single-mindedness, has the advantage of allowing one to examine one’s life concerns objectively and comfortably, without the immediate risk of alienation from one’s life. Meaningfulness” is a normative concept in the right circumstances, and, to people in those circumstances, it should be something inherently attractive.