...costing and profitability model that reports profitability by individual product, customer, and even by order. (Kaplan, 2009). Time-driven ABC has taken this methodology a step further and simplified the process to make an even more powerful tool to measure the financial effectiveness of a company. This paper is attempts to take a U.S. service company and map out an implementation of TDABC to prove the ease and effectiveness of this accounting tool. Company Description H&R Block is one of the oldest and largest tax service providers. It was founded in 1955 by brothers Henry and Richard Bloch. The company began franchising in 1956 and went public in 1962. It employs over 100,000 trained tax professional both within the U.S. and worldwide. According to their web-site, H&R Block prepares one in every 7 U.S. tax returns.(HRBlock.com, 2013) One key to their success is that they claim to have a retail office within 5 miles of most Americans. H & R Block offers their services both in person and on-line. The tax-payer can chose to walk into an office and work face-to-face with the tax specialist, they can work totally on their own using the online or packaged do-it-yourself tax prep tools, or they can utilize the do-it-yourself software with unlimited help from an online tax professional. H&R Block offers a wide range of tax consulting services. The most basic starts with the simple, straight forward tax return. This can be accomplished either in house or on-line...
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...over 100,000 tax professionals that are trained both within the U.S. and worldwide. The company has prepared more than 550 million tax returns since the business started in 1955. One key important key to the company success is that they have a retail office within 5 miles of most Americans. You are able to do your taxes both in person and on-line because H & R Block offers these services. The tax-payer can chose to walk into an office and work face-to-face with the tax specialist, they can work totally on their own using the online or packaged do-it-yourself tax prep tools, or they can utilize the do-it-yourself software with unlimited help from and online tax professional. H & R Block will offer you a wide variety of tax consulting services. Straight forward tax return offers the most basic start which is simple. You are able to accomplished this either on-line or in house. H & R Block also offer “drop off” service. A small business service is offered by H & R which includes helping the preparer to navigate the tax requirement of running a business. This is done throughout the year and not just a year-end service. H & R offers a service called “Best of Both”. This is where you get the convenience of doing it online with tax support preparation from experienced tax professional that will correct, review and even e-file your return. Other services that H & R offers is second look review, peace of mind and black live extended service plan, W-2 early access, tax audit support...
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...Annual Report Fiscal Year Ended March 31, 2011 “Our results in fiscal 2011 extend our track record of growing EPS, which we have increased at a 13.9% compound annual growth rate since fiscal 2007.” John H. Hammergren, Chairman, President and Chief Executive Officer, McKesson Corporation Financial Results Five-Year Total Revenue (in millions) Five-Year EPS* *Diluted earnings per share from continuing operations, as displayed above, excludes adjustments for litigation charges (credits) net (“EPS”). For supplemental financial data and corresponding reconciliation to U.S. generally accepted accounting principles (“GAAP”), see Appendix A to this 2011 Annual Report. Non-GAAP measures should be viewed in addition to, and not as an alternative for, financial results prepared in accordance with GAAP. Total Stockholder Return** **The percentages displayed represent total annualized stockholder return for each period presented, including the reinvestment of dividends. Dear Fellow Stockholders, I am pleased to report that McKesson delivered another strong performance in fiscal 2011, marked by outstanding execution in Distribution Solutions, continued success in expanding our relationships with customers and suppliers, and near record levels of capital deployment, including the $2.1 billion acquisition of US Oncology, our largest acquisition in a decade. McKesson generated revenues of $112.1 billion and exceeded expectations for both earnings and cash flow. Earnings...
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...of Compliance Costs: Lesson from Malaysian Companies towards Goods and Services Tax (GST) Mohd Rizal Palil1, Rosiati Ramli1, Ahmad Fariq Mustapha1 & Norul Syuhada Abu Hassan1 1 School of Accounting, University Kebangsaan Malaysia, Malaysia Correspondence: Mohd Rizal Palil, School of Accounting, Faculty of Economics and Management, University Kebangsaan Malaysia, 43600 Bangi, Selangor, Malaysia. E-mail: mr_palil@ukm.my Received: May 6, 2013 Accepted: June 20, 2013 Online Published: August 30, 2013 doi:10.5539/ass.v9n11p135 Abstract URL: http://dx.doi.org/10.5539/ass.v9n11p135 Various parties including academics, professionals and the society (the potential GST payers) are arguing about the introduction of GST in Malaysia. Goods and Services Tax (GST) or Value Added Tax (VAT) is a consumption tax imposed on the sale of goods and services. The Malaysian government introduce this potential tax mechanism, in order to increase the existing tax bracket and replacing the long-implemented service and sales taxes. With the introduction of GST, the Malaysian government felt it would provide them with the prospect to reduce the rates of individual and corporate income tax. However, do all companies particularly small and medium enterprises (Companies) ready to adopt the systems efficiently? If they could adopt the system, how much their compliance costs involved such as developing new software, human resource training and accounting systems? The objective of this paper is...
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...the follow-up of regular reexamine, etc. These are not only methods to avoid high readmission rates, but also techniques to improve patient satisfaction and to reduce unnecessary administrative costs. Furthermore, another plausible approach is to bring closer relationship between hospitals and patient families, since they are an important part of patient satisfaction. Pay-for-performance Based on CMS. ACA established a value-based purchasing program, which was a quality incentive program built on the Hospital Inpatient Quality Reporting measure. The main idea of this program is to “reward hospitals for the quality of care they provide to Medicare patients, not just the quantity of procedures they perform” (CMS). CMS evaluates the effectiveness of hospital operation by...
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...| Improvement of Corporate Tax Audit: Factor of Increasing Tax Compliance in Malaysia | | Table of Contents Executive Summary 3 Introduction………………………………………………………………………………………..4 Tax Compliance, Tax Evasion and Tax Audit…………………………………………………….4 Tax Audit in Malaysia…………………………………………………………………………….6 Organization Structure…………………………………………………………………………….8 Tax Audit Process…………………………………………………………………………………9 Tax Audit: Constraints and Problems……………………………………………………………11 Recommendations………………………………………………………………………………..16 Conclusion……………………………………………………………………………………….18 References……………………………………………………………………………………….19 Appendix………………………………………………………………………………………...20 Executive Summary The Malaysian tax system follows the concept of self-assessment system (SAS). Under the SAS, the government trusts and gives taxpayers full responsibility to calculate, to pay and to report their tax due on their own. The success of SAS not only depends on the good tax administration but also depends on the taxpayer awareness, which is indicated by the taxpayer compliance in fulfilling his obligation. In order to enhance the level of tax compliance, the Inland Revenue Board of Malaysia (IRBM) considers that it can be achieved by law enforcement besides tax consultation and tax service. Law enforcement comprises of tax audit, tax investigation and tax collection. Tax audit becomes important since it can cause a deterrent effect to increase taxpayer compliance. Tax audit plays an important role in determining the...
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...Introduction The United States is the only major industrialized nation without universal health insurance. Over the years the inequities in access to care, quality, and the rising cost has led many Americans to be uninsured or underinsured. During 2007 and 2008, one out of three Americans under 65 was without health insurance. 86.7 million Americans were uninsured from 2007 to 2008 (Pifer-Bixler, 2009). The Foundation of Medical Relief, Inc. FMR was developed to be 501(c)(3) non-profit organization. Our goal is to ensure every community member in the greater Kansas City Metro area is compliant with the ACA health insurance coverage mandate by January 2014. We try to keep the uninsured and underinsured healthy by providing access to high quality, affordable health insurance for uninsured and underinsured in the greater Kansas City, Missouri area. Kansas City saw an increase in the number of uninsured children. As U.S. poverty rate grew in 2009, 20 percent more people need health care help. The number of uninsured Americans was 49.9 million in 2010 (Stafford, 2011). Everyone is at risk of being uninsured (Families USA, 2009). Therefore, we developed Foundation for Medical Relief, Inc. (FMR) with the vision as to foster and promote collaborative relationships; will develop partnerships with public and private health services agencies and the community in general enhance the administration of the health care act. The Affordable Care Act (ACA) was made into law in March...
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...UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2014 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-13252 McKESSON CORPORATION (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation or organization) 94-3207296 (I.R.S. Employer Identification No.) One Post Street, San Francisco, California (Address of principal executive offices) (415) 983-8300 (Registrant’s telephone number, including area code) 94104 (Zip Code) Securities registered pursuant to Section 12(b) of the Act: (Title of each class) Common stock, $0.01 par value (Name of each exchange on which registered) New York Stock Exchange Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports)...
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...ISSUES IN E-COMMERCE Electronic commerce or ecommerce is a term for any type of business, or commercial transaction that includes the transmit of information across the Internet. Electronic commerce has expanded quickly over the past years and is anticipated to continue at this rate, or even step-up. The innovatory development of network technologies began electronic commerce as a global trend. E – Commerce utilizes electronic systems for not only buying and selling of the goods and services but also in marketing, supply management, fund transfer. Today most of the businesses rely on electronic systems at least at some points. World Wide Web, the resultant of Internetworking is the main contributor where telephone, mobile phone, fax also serve the purpose. Even though e-commerce technologies provide great benefits, any kind of online transaction give potential for immense misuse of these technologies. Several organizations become the target of e-commerce related crimes ranging from virus assault to business frauds, including e-mail theft, stealing sensitive data of person and credit card information. U.S government’s new internet fraud center does a survey that gathers and studies consumer complaints. Online auctions make nearly 50% of the complaints obtained by the center. Other major types of complaints are security and commodities complaints 16.7%, credit card complaints 4.8%, identity thefts generate 2.9% of the complaints, loss of business chances 2.5% and professional...
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...household income of his family is £475,000 totally. Adam and Sheila studied in a local private school. The couple will have to pay £3,000 per child per annum in school fee, what was more when Carina arrived her school age, and at that time she will probably be sent into the same school. 2.1.2 Mortgage factors in the case The Flynn’s live in a bungalow which is conservatively evaluated £1.25m in firm economic condition. They have £450,000 mortgage to pay in 14 years. They decided to build an extension which cost £300,000. They have taken out the over 20 year’s mortgage on an endowment basis. A substantial shortfall leads to policy operational problems. 2.1.3 Protection factors in the case As a Company Director and Chief Executive of a software company, Alexander is already 48 and close to his middle-age. Great work pressure may easily cause health problems. Janet is 44 and works as Alexander's personal assist. So this couple needs to protect health to deal with the pressure and workload. Their three children also need to protect health to prevent accident happen. Because of the couple work in same company, and company have the opportunity of break down; they will need income protection to prevent redundancy. Flynn’s' bungalow has a big appreciation of space and a favourable geographical position. It is conservatively evaluated £1.25m. If they build an extension, they will pay £750,000. But they has endowment basis police problem because...
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...OVERVIEW Overview of GST GST (good and service tax), other words it also known as VAT (value added tax). It have implemented in many countries throughout the world. Currently there are 170 counties in the world that have implemented GST /VAT. NO REGION No of country 1 ASEAN 7 2 Asia 19 3 Europe 53 4 Oceania 7 5 Africa 44 6 South Africa 11 7 Caribbean, Central and North America 19 Table 1: No of countries implement GST/VAT Sources: Ministry of Finance GST is a multi-stage tax system, this is due to its nature which the tax is collected based on the supply of goods and services at each of the supply chain from the supplier to the retailer stage of the distribution. Even though GST is imposed at every stage of the supply chain, but the tax element will be not become a part of the cost of the product, because the GST paid on the business inputs is claimable as input tax. Where the business will pay the GST as output tax and claim for the input tax from the customs. In addition, it does not matter how many stages where a particular goods and services goes through the supply chain because the input tax incurred at the previous stage is always deductible by the businesses at the next in the supply chain. GST consider as a broad based consumption tax, which includes all sectors of the economy. In Malaysia the GST have been establish in a very clear manner, for example all goods and services made in Malaysia...
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...Modron Technologies, Inc. GM600 BUSINESS PLANNING SEMINAR KELLER GRADUATE SCHOOL OF MANAGEMENT BUSINESS PLAN FOR: PREPARED BY: MICHAEL BARTHOLOMEW KHANG HUYNG ROLAND RIEGO HYUNG RYU GM600 Group B Page 1 Modron Technologies, Inc. TABLE OF CONTENTS Overview......................................................................................................................... 4 Mission Statement........................................................................................................... 4 Marketing Plan................................................................................................................ 4 Operation Plan ................................................................................................................ 5 Financial Plan.................................................................................................................. 5 Summary ......................................................................................................................... 5 MARKETING PLAN........................................................................................... 6 Opportunity ..................................................................................................................... 6 Product Description ........................................................................................................ 6 Product offering ....................................................................
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...KNOWLEDGE. INNOVATION. INSIGHT. 2012 Annual Report THE SCIENCE OF RISK Company Profile Verisk Analytics (NASDAQ: VRSK) provides information about risk to professionals in many fields, including insurance, healthcare, financial services, supply chain, and others. Through its renowned ISO brand, the company has delivered data, analytics, and decision support services for the property/casualty insurance industry for more than 40 years. Using advanced technologies to collect, analyze, develop, and deliver information, Verisk Analytics helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, Verisk Analytics employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, Verisk Analytics helps customers protect people, property, and financial assets. For more information, visit www.verisk.com. Financial Highlights Revenues $ Millions 1,500 GR CA .5 = 14 % Adjusted EBITDA $ Millions 700 600 500 1,200 GR CA 5. 3 =1 % 900 400 300 200 600 300 100 0 2008 2009 2010 2011 2012 0 2008 2009 2010 2011 2012 2012 Sources of Revenues 2012 Revenues by Operating Segment Decision Analytics: 62% ...
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...primarily from taxes and non-tax revenue. * Government expenses include spending on current goods and services, which economists call government consumption ; government investment expenditures such as infrastructure investment or research expenditure; and transfer payments like unemployment or retirement benefits, Social Safety nets Basis of Budget * Budgets have an economic, political and technical basis. * Unlike a pure economic budget, they are not entirely designed to allocate scarce resources for the best economic use. * They also have a political basis wherein different interests push and pull in an attempt to obtain benefits and avoid burdens. * The technical element is the forecast of the likely levels of revenues and expenses Budget Cycle * Budget Preparation: The first phase of the budget cycle involves preparation by the departments/agencies, ministries and finally ministry of Finance * Legislative Approval: Typically, the legislature has the power to approve or reject a proposed budget. They review it and vote. If approved, it moves into the implementation phase. * Implementation and Execution: It is the duty of the executive branch - primarily involves distributing the budgeted resources to their designated recipients within the government and spending it as planned. * Audit and Review: Finally, a budget is typically audited and reviewed following implementation to evaluate the efficiency and effectiveness in...
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...to highlight the issues that are holding back the growth of Mobile VAS in India and map future consumer preferences. Our market research covers consumers across SEC A, SEC B and SEC C. This report also assesses the current state of VAS ecosystem and how it will evolve. The report evaluates the challenges faced by different stakeholders in VAS ecosystem and how each of them should react to be able to succeed in this new environment. Population Pyramid - India 2010 Source: US Census Bureau VAS adoption in India will spur due to positive demography, growing middle class and increasing spending power of people at the bottom of the pyramid. Connect with Consumer - Value Added Services 3 VAS: Way Forward Executive Summary Page 03 Page 43 Tax Imperatives of VAS Study Methodology Page 05 Page 39 Mapping of Mobile VAS Users Page 33 Introduction Page 07 VAS in India Page 12 Current VAS Value chain in Indian context Page 16 Solving the VAS puzzle Page 18 4 PwC Primary Research Methodology PwC undertook a detailed and wide scale market research with the objective of understanding the behavior of Indian mobile subscribers...
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