...It leads the American society, and protects our fundamental rights. Under the Sixth Amendment, a defendant is guaranteed a right to a public trial. See U.S. Const. amends. VI. In Waller, the U.S Supreme court mandated that closure cannot be sacrificed for something less than a substantial probability of prejudice. Waller v. Georgia, 467 U.S. 39 (1984). Conclusory assertions stating the general dangers associated with the vocation of an undercover officer, without connection to the instant case, violate the U.S Constitution. The accused shall not be denied his Sixth Amendment right to a public trial unless, the people establish a nexus between the Officer and the instant case. People v. Martinez, 82 N.Y.2d 436 (1993). A nexus does not exist unless the people sufficiently show that the officers safety and effectiveness are at risk, by establishing that the Officer will resume work in the same area, took extensive safety precautions or has encountered buy...
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...considers the risk of detection to not be probable, eVade estimated the total amount of sales tax payables for the past five years to be $50 millions plus $6 million in interest and $ 4 million in penalties. On March 15, 2012, State X established a tax amnesty program. Any unregistered taxpayer who voluntarily registers to collect tax will be forgiven 50 percent of all unpaid sales tax and all interest and penalties. eVade decides to take advantage of this program. Issue 1 As of December 31, 2011 What amount, if any, of sales taxes due should recognized in eVade ‘s financial statements? Scope In order to analyze what part of the sections sections of the FASB Accounting Standards Codification applies to the case, ASC 450 section was examined since non-income taxes are often accounted for under the contingencies guidance. Next, ASC 740 section was also studied. ASC 740-10-20 defines “income taxes as domestic and foreign federal (national), state, and local (including franchise) taxes based on income.” Since sales taxes are under the umbrella of local and state, the following step will be defining if eVade should recognized a tax position. Definition of a Tax Position ASC 740 includes the following implementation guidance on recognizing tax positions. ASC 740-10-20 states some examples of tax positions as: “A decision not to file a tax return” (e.g., a decision not to file a specific state tax return because nexus was not established). What does nexus mean? Economic...
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...2. Theoretical review of financial development and economic growth nexus 1 1.3 Review of the empirical literature 4 1.3.1 Time series 5 1.3.2 Cross-country studies 6 1.3.3 Panel data studies 7 3 Conclusions 8 4 References 9 1 Introduction “Finance is powerful. The financial system can be an engine of economic prosperity – or a destructive cause of economic decline and misery.” Levine, R. (2011) p.85 Obviously, financial system and economy are related. But what is the nature of this relationship? The objective of this paper is to critically evaluate the existing theoretical and empirical literature on the finance-growth nexus. What is the role of the financial sector in economic growth? Does finance cause growth or simply follows it? There is no wide agreement about this task among recognised economists. Even Nobel Prize winners disagree in regard to the role of finance in economic development. Levine (2003) states that the role of finance as a major determinant of economic growth is over-stressed. Moreover Levine (2003) argued that where enterprise leads finance follows. Quite the opposite, important acknowledgment should be taken into account and it follows as “[the idea] that financial markets contribute to economic growth is a proposition too obvious for serious discussion.” Levine (2003) p.1 Similar to that, he also declared that the finance growth nexus cannot be safely ignored without substantially impeding our understanding...
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...allow me to bring the product from concept to commercialization. Target Market When looking at the target market for this new product, I am going to be looking at multiple factors. I need to define the problem I am going to solve, look at current information available around the problem that I am trying to solve, find data to support the resolution I am after, transform that raw data into something that makes sense, and then move forward with solving for the problem. The first step in this process is often the most important. By defining the problem, a lot of times this leads to a solution by leading to features that the new product needs, who would be interested in the product, etc. With the new product that I am looking to launch, the Nexus 9000 series switch, the problem being defined is that of power consumption within the Data Center. With this problem in mind, designing for the new product can become focused, we can work on gathering data on where power is consumed, why it is consumed, and the ancillary factors that tie into excessive power consumption of devices such as heat. With the...
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...the 2008 global financial crisis. India was the 10th largest economy in the world in 2011, as measured by nominal gross domestic product (GDP). In the International Energy Outlook 2011, EIA projects India and China to account for the biggest share of Asian energy demand growth through 2035. India is heavily dependent on crude oil imported from the Middle East and imports more than 70% of its domestic demand. Due to a stagnation of domestic production, the import of crude has gone up from 11.68 million tons (mt) in 1970–1971 to 196 mt in 2007–2008. Oil import bill for India in 2007–2008 was $144.93 billion. With the high demand of oil and other petroleum, and their fluctuating price in the global markets, we are at a very high risk of foreign exchange risk. With so much purchase of energy imports, it might lead to exchange rate movements. And the volatility in the exchange rates (caused by the oil price volatility) may have severe effects on the economy, especially on infrastructural projects and FDI. There have been new studies which are even extending the linkage of the oil rate and exchange rate to the stock markets. Oil is the second largest source of primary commercial energy in India after coal. Share of oil in India’s total energy consumption is 31% (source: EIA). India was under fixed exchange regime till March 1992, where exchange rate of rupee was determined and...
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...A (Very) Small Sampling of Google Products Ben Thompson INFO331 Google Case Study A (Very) Small Sampling of Google Products To say that Google is a large business is a gross understatement. The word “Google” has become synonymous with online searches, even though there are other search engines that exist. The search engine may be the most popular and well known aspect of the Google brand, yet the company is involved in so many different business endeavors ranging from self-driving vehicles to online analytics. A significant portion of research conducted at Google is geared towards products and services other than the well-known search and advertising functions. Google has released a tablet to rival the iPad and Google Maps has become the unofficial industry standard (Null 2010). Google is also at the forefront of green energy and has been making significant strides and investments in this area. A Self Driving Car? For years people have envisioned self-driving vehicles. One of the most obvious benefits of this kind of technology would be safer roads. This could be one of the reasons that earlier in 2013 the Transportation Department decided to get behind the idea of developing this technology (Greiling Keane 2013). Regulators see the benefits of having this technology on the road because of the very real problem of traffic fatalities. In 2012 there were 34,000 deaths on U.S. roads alone. One of the features of this technology is that vehicles will be able to communicate...
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...2/5/2012 ECONOMIC NEXUS IN WASHINGTON STATE: DEFINING SUBSTANTIAL NEXUS Armikka R. Bryant* I. INTRODUCTION This Article explores the evolving framework of nexus and examines the constitutional constraints imposed on states’ tax jurisdiction and how states overcome those limitations. In 2010, the Washington State Legislature declared that out-of-state businesses with no physical presence in Washington were earning significant income from Washington residents by providing services or collecting royalties on the use of intangible property in the state.1 The Legislature also determined that, although these out-of-state businesses did not have a physical presence in the state and were not paying their fair share of Washington State taxes, they were nonetheless receiving the following significant benefits provided by the state: • Laws providing protection of business interests or regulating consumer credit; • Access to courts and judicial process to enforce business rights, including debt collection and intellectual property rights; • An orderly and regulated marketplace; and • Police and fire protection and a transportation system benefiting in-state agents and other representatives of out-of-state businesses.2 * Armikka R. Bryant, Tax Policy Counsel, Washington State Department of Revenue; J.D., 2001, The University of Iowa; LL.M. (Taxation), 2004, The University of Washington; B.A., 1997, The University of Michigan; member of Washington State Bar. I would...
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...UNITED STATES AND CANADA AND MEXICO BORDER Border Patrol focus has been detection, apprehension and/or deterrence of terrorists and terrorist weapons (Securing America’s Borders). 2011). The duties and responsibilities of the Border Patrol is one of the most important jobs and it is to detect and prevent the entry of illegal immigrants, terrorists, and smugglers into the United States. The amount of travellers that come through the United States, the trade that the United States engage in, and the number of immigrants entering the United States makes us a target for terrorist attacks from different angles. The Department of Homeland Security was created to deal with and address the threat of international terrorism (Securing America’s Borders). The priority mission of this department is homeland security. The Hart-Rudman Commission had three innovations they were trying to accomplish. The first of which the commission thought the United States needed to push its borders outward, developing what it called a “layered defense” (Alden, 2009, p. 39). The senators thought that the U.S. needs to work more with foreign countries to try to identify threats and/or terrorists before they arrive in the U.S. Secondly, the commission recommended the government need to work with companies, mainly private shipping companies, who ships goods or products to other countries or around the world (Alden, p. 39). This would help not only the government but the companies involved in order...
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...MULTISTATE CORPORATE TAX COURSE John C. Healy | Michael S. Schadewald 2014 EDITION CPE CoursE! BONUS Earn CPE Credit and stay on top of key Multistate Corporate Tax issues. Go to CCHGroup.com/PrintCPE 2014 EDITION MULTISTATE CORPORATE TAX COURSE John C. Healy | Michael S. Schadewald ii Contributors Authors ........................................................... John C. Healy, MST, CPA Michael S. Schadewald, PhD, CPA Technical Review ....................................................... Sharon Brooks, CPA Production Coordinator ................................................... Gabriel Santana Production ......................................................................... Lynn J. Brown Layout & Design..................................................................Laila Gaidulis This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert assistance is required, the services of a competent professional person should be sought. © 2013 CCH Incorporated. All Rights Reserved. 4025 W. Peterson Ave. Chicago, IL 60646-6085 800 344 3734 CCHGroup.com No claim is made to original government works; however, within this Product or Publication, the following are subject to CCH’s copyright: (1) the gathering, compilation...
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...THE FIVE FORCES INDUSTRY COMPETITORS. Rivalries naturally develop between companies competing in the same market. Competitors use means such as advertising, introducing new products, more attractive customer service and warranties, and price competition to enhance their standing and market share in a specific industry. To Porter, the intensity of this rivalry is the result of factors like equally balanced companies, slow growth within an industry, high fixed costs, lack of product differentiation, overcapacity and price-cutting, diverse competitors, high-stakes investment, and the high risk of industry exit. There are also market entry barriers. PRESSURE FROM SUBSTITUTE PRODUCTS. Substitute products are the natural result of industry competition, but they place a limit on profitability within the industry. A substitute product involves the search for a product that can do the same function as the product the industry already produces. Porter uses the example of security brokers, who increasingly face substitutes in the form of real estate, money-market funds, and insurance. Substitute products take on added importance as their availability increases. BARGAINING POWER OF SUPPLIERS. Suppliers have a great deal of influence over an industry as they affect price increases and product quality. A supplier group exerts even more power over an industry if it is dominated by a few companies, there are no substitute products, the industry is not an important consumer for the suppliers...
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...CLASS 1.1 Important concepts Entities – tax versus legal • Tax entities o People, partnerships, joint venture, companies … are considered to be entities for the purposes of calculating income tax. • Legal entities o Companies, which have separate legal personalities, are legal entities. Income flows • Income should be considered as a cash flow stream, where timing is important. • The question is, when the income recognised as earned or deducted (because tax delayed is tax denied)? CLASS 1.2 Patterns of taxation Income tax • Income tax is a progressive system. • Income tax is mainly a rich person’s tax once franking credits are taken into account to produce an “effective tax rate”. • Wealthy people pay less tax overall by reducing their tax burden through using the lower rate paid on capital gains and other tax minimisation schemes. • Total tax as a percentage of GDP is lower in Australia compared to many other countries across the world. However, these results must be considered in light of the high level of income (where it may not be as much of a burden to pay high taxes where there is high income) and quality of public goods provided in counties such as Sweden (which has the highest total tax rate as a percentage of GDP). Justifications for taxation Why do we need taxes? • Public goods argument: the government can provide some benefits to society better than anyone else. Examples include defence, and law and order. • Market failure...
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...A hedge is an investment position intended to offset potential losses/gains that may be incurred by a companion investment. In simple language, a hedge is used to reduce any substantial losses/gains suffered by an individual or an organization. A hedge can be constructed from many types of financial instruments, including stocks, exchange-traded funds, insurance, forward contracts,swaps, options, many types of over-the-counter and derivative products, and futures contracts. Public futures markets were established in the 19th century[1] to allow transparent, standardized, and efficient hedging of agricultural commodityprices; they have since expanded to include futures contracts for hedging the values of energy, precious metals, foreign currency, and interest rate fluctuations. A mutual fund is a type of professionally managed collective investment scheme that pools money from many investors to purchase securities.[1] While there is no legal definition of the term "mutual fund", it is most commonly applied only to those collective investment vehicles that are regulated and sold to the general public. They are sometimes referred to as "investment companies" or "registered investment companies."[2] Most mutual funds are "open-ended," meaning investors can buy or sell shares of the fund at any time. Hedge fundsare not considered a type of mutual fund. In the United States, mutual funds must be registered with the Securities and Exchange Commission, overseen by a board of directors...
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...increased profits. It is important to know the threats surrounding a company in terms of investment. For that reason, the organisation of choice has a risk profile indicating its positioning when thinking of investing in a new strategy. Apparently, the company has the willingness to take head-on the risks that would come along with any investment form. There are several financial instruments for investing in a new plan. The company has hatched mitigation measures for risks that may affect the incorporation of the strategy. The company’s decision to invest using the new financial instruments can realise increased costs, or losses in terms of trading in the finances, but these are some of the risks the organisation is willing to take head-on. In addition, with the current instability found in the financial sector after the infamous global financial crisis, companies run the risk of being caught up again in the recession. However, the company has engaged with the insurance companies and also with the necessary financial institutions so that in the event of unfortunate occurrence, the company remains safe. One example of financial instrument for investment is the Exchange Traded Fund (ETF), just like any other source of investment; it does not come along without its risks. In other words, there is no investment that is free from risk; they are all likely in one way or the other to land an organisation in trouble. For instance, the ETF regulations are susceptible to different diversification...
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...|Strength |Weakness | |One of the world's strongest brand names. |Cost of environmental hazards. | |Diverse and huge operations. |Legal issues. | |PETRONAS has grown to be an integrated international oil and gas |Employment scam. | |company with business interests in 50 countries. |Rising investment requirement. | |Sponsored education to Malaysian students. (PESP, PSIP) | | |Opportunity |Threats | |Increasing fuel/oil prices. |Government regulations. | |Increasing natural gas market. |High Competition. | |More oil well discoveries. |Long-term falls in domestic oil production. | |Expand export market. |Competition in regional...
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...Agency Theory: A brief Review by N. Waweru The agency theory assumes that there exists a contractual relationship between members of a firm. It recognises the existence of two groups of people; principals or superiors and agents or subordinates. The principals will delegate decision making authority to the agents and expect them to perform certain functions in return for a reward. Both the principals and the agents are assumed to be rational economic persons motivated solely by self-interest but may differ with respect to preferences, beliefs and information (Jensen and Meckling, 1976). The principal/agent relationship can exist throughout any organisation and usually starts from the shareholder-director and ends with the supervisor-shop floor worker (Figure 1.1). In an organisation context, which involves uncertainty and asymmetric information, the agent’s actions may not always be directed to the best interests of the principal. Agents’ pursuit of their self-interest instead of those of the principal is what is called the agency problem (Jensen and Meckling, 1976). To counter this behaviour, the principal may monitor the agents’ performance through an accounting information system. The owner can also limit such aberrant behaviour by incurring auditing, accounting and monitoring costs and by establishing, also at a cost, an appropriate incentive scheme (Jensen and Meckling, 1976). According to Jensen (1998), agency theory seeks to understand: (1) how to assign decision making...
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