...of assets to the owner as a form of compensation for the use of the assets. There are different types of interests, including investment interest, qualified residence interest, student loan interest, and personal interest, which are either deductible or nondeductible. Personal interests are interests on car loans, credit cards, loans for appliances and furniture and interest on loans made by one person to another. Personal interest is nondeductible. If interest is paid on a qualified student loan, taxpayers may be able to deduct the interest as deduction for AGI. Generally, the allowable amount for student loan is lesser of $2,500 or the amount of interest taxpayer actually paid. Investment interest is interest paid on money borrowed to purchase or hold investment property. It is tax deductible on income tax return up to the amount of the net investment income. However, if the interest is incurred to produce tax exempt income, it cannot be deducted. Investment interest is not any qualified home mortgage interest or any interest taken into account in computing income or loss from a passive activity. The qualified residence interest is interest taxpayer pays on a loan secured by one’s main home or a second home. The loan may be a mortgage to buy primary home, a second mortgage, a home equity loan, or line of credit. The main home is where taxpayer lives most of the time. A second home is other residence taxpayer owns and treats as a second home. If the second home is rented, taxpayer...
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...this process is used, then copies of this work would be retained and used as a source material for conducting future plagiarism checks. Date Submitted: ECON7300 Statistic Project 1 Xian Wang 42948009 Yang Xiao 42694089 Part A – Simple Regression Analysis By using the Kadd, the estimated equation is: Ŷ=-774.3324+0.2323X According to the equation, we can learn that the coefficient of the disposable personal income is 0.2323, which means if the disposable personal income increases by 1 billion dollar, the consumption of durable goods is expected to increase by 0.2323 billion dollar. Hypotheses: H 0 : b1 =0 H1 : b1 ≠0 Decision rule: α=0.05; reject if H 0 P value < α/2=0.025 Test statistic: The forms of the test of significance of the model are as follow: Variables Dependent Independent PCE - Durable goods Disposable Personal Income Regression and Correlation Observations R Square Standard Error Adjusted R Square Multiple R 85 0.9777 42.2396 0.9775 0.9888 Standard Error Coefficients t value p value Intercept Disposable Personal Income -774.3324 0.2323 25.4705 0.0038 30.4012 60.3708...
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...Personal Budget, Balance Sheet, and Cash Flow Statement ACC/547 January 21, 2013 Personal Budget, Balance Sheet, and Cash Flow Statement Memo: Some people save less than their financial capacity is and this fact leads them to serious financial problems and lack of financial security. Therefore, successful money management should be a life decision undertaken at the early adulthood in order to plan money distribution effectively that would eventually provide financial prosperity. The purpose of this memo is to analyze my client's financial situation, their personal budget, balance sheet, and cash flow statement and give them recommendations and support for improving their financial situation. My client, John Morgan is a 49 year old engineer who is married and has two dependents. Kate Morgan, John's spouse is a 43 year old teacher and the mother of those two children. My client and his family live in a gorgeous 4-bedroom house, in a nice neighborhood with a good school district. Although, the family leads a peaceful life their financial situation is in a great disarray. Though, John and Kate make together close to $140,000 a year they don't have much of a life savings, or emergency fund, and too much credit card debts. In order to help them understand the significance of saving more money instead of spending it, personal balance sheet, cash flow statement, and budget need to be prepared. Personal balance sheet reflects their assets and liabilities and determines...
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...This Evaluation for a Financial Plan starts with insurance needs, making the most on interest on one’s savings, types of loans, and asset allocation. Each area of the financial planning process needs to be addressed in order to make future goal financial goals. Personal Insurance Needs Everyone generally understands that they need at least health insurance, car insurance, and mortgage or renters insurance. Many people, especially when they are younger, forget or decide they do not need life insurance! This is probably the most important insurance to someone with a family because it takes care of loved ones should someone pass away early. There are four main types of life insurance: term, whole, universal, and variable life insurance. Term life insurance is the most basic and is typically what younger individuals choose to start with because of its low premiums. Term life insurance will not have cash value and will only last for the stated term set forth. This is generally best for people who need insurance for a shorter amount of time until they can afford higher premiums for a different product. Whole life is the second form of life insurance. The premiums are higher than what term life would be, but over the entire life span can become cheaper than a term policy should someone need to renew the term life later in life. This will also hold a cash value, making it an investment vehicle should someone have a hard time saving money. It can be for the duration of life should...
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... | LO1 |1. | |Which statement is correct in describing the rank order of payments as specified by the Uniform Partnership Act? | | | | | | | | |a. |Payments to partners with loans to the partnership are ranked equally with payments to other creditors. | | | |b. |Payments to partners with loans to the partnership are ranked ahead of payments to partners without loans to the | | | | |partnership. | | | |c. |Payments to other creditors are ranked ahead of payments to partners with loans to the partnership. | | | |d. |After payments are made to other creditors and partners with loans to the partnership, payment can be made to | | | | |partners with...
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...reproduced, stored or transmitted for non-commercial purposes; however, The Business Link's copyright is to be acknowledged. You may not use, reproduce, store or transmit this material for commercial purposes without prior written consent from The Business Link. © 2013 The Business Link ALTERNATIVE FINANCING OPTIONS FOR SMALL BUSINESSES (07/2013) Content Content ........................................................................................................................ 1 Purpose........................................................................................................................ 1 Introduction .................................................................................................................. 2 1. Personal Financing .................................................................................................... 2 2. Family and...
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...Residence in Australia - Individuals Resides test (in and out of Australia) – COMMON LAW TEST * Known as the “residence according to ordinary concepts” test. * The term “resides” is not defined in statute and therefore takes on its ordinary meaning. * Ultimately, the determination of tax residency rests on a question of fact and degree: Miller v FCT (1946). * Factors include, for example: * Time physically spent in Australia * If the person is a visitor, the frequency, regularity and duration of visits: IRC v Lysaght [1928] AC 234 * The person’s family, business and social ties: Levene v IRC. * Maintenance of place of abode in Australia during absences * Family and business ties * Present habits & modes of life * Nationality Domicile test (resident going out of Australia) – COMMON LAW TEST * Under the domicile test, an individual is a resident of Australia if his or her domicile is in Australia, unless the Commissioner is satisfied that the person has a permanent place of abode outside Australia. * “Domicile” is determined according to the Domicile Act 1982: * Domicile of origin at birth OR Domicile of choice. * Permanent is not everlasting (FC of T v Applegate). 183-days Test (moving to Australia) – STATUTORY TEST * Individual is a resident of Australia if he “has actually been in Australia, continuously or intermittently, during more than one-half of the year of income, unless...
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...Role: financial analyst. To do: Whether the loan should be approved Restriction put on the loan Collateral Corporate governance Whether or not to drop Sports flag brand Loan: ability to repay. Can they pay loan back? * Cash flow analysis for future years * Fiscal year end May 31. Repay in 3 years. 2010, 2011, 2012 * No enough information for 2012, just do 2011 to see if enough cash in account to cover the payment for 2012 * Compare revenue, expenses (variable and fixed), net income in 2009, 2010, 2011 to 2008 relatively. * Calculate what is more than 2008 in 2009 to 2008`s income to get net income for 2009 Summarize your results, see exhibit 1 State assumption: * Brain will receive a salary of 200000 * Dividend of 75000 not paid to Brain without SVC`s approval Shortfall in 2009 and how to resolve Short of cash in 2009, overdrive, Brain can give a short term loan to the company on his pocket Conclusion: the company have enough cash flow to pay loan back due 2012 Collateral: What assets on the balance sheet can be good collateral? Discuss each asset if it is a good collateral or not: 1. Head office property – already is collateral for mortgage. The fair value of the property is not known, there may be money left after the mortgage. 2nd mortgage. If FV is at least CV- good collateral. 2. Accounts receivable and inventory: not good for this case. Bank already have A/R as collateral. We get the money after the bank...
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...transform the current system of micro-loan repayment. The use of mobile banking will influence the success of BTPN by: * Keeping them at the forefront of innovation * Allowing for more customer flexibility * Increasing loan repayment efficiency BTPN will confirm its competitive position as an innovator and create more value for its product through mobile banking. More flexibility for customers will further the value creation and fit in with the already successful micro-lending model. BTPN can expedite the repayment process by automating it through technology. BTPN’s business model BTPN provides pension loans for civil servants, savings deposits for middle and high-income Indonesians, and micro-loans for poor Indonesian entrepreneurs. BTPN builds bank branches close to pasars with a simple and repeatable franchise model, subsequently carefully selecting employees whom undergo rigorous training. BTPN monitors the performance of both their employees and customers with state of the art technology, such as a standardized “dashboard” and EDC mobile devices. BTPN also provides additional services for their customers such as education, consultation, and training. BTPN’s current microfinance process To begin the microlending process, a potential customer submits a loan application to the local branch. At the branch, a loan administrator checks the application for completeness and uploads a scanned image to the central loan system. Then a credit officer performs...
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...of an outstanding loan if certain requirements are not met. Ad Valorem Taxes-is a tax based on the value of real estate or personal property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). Assessment-the evaluation or estimation of the nature, quality, or ability of someone or something. Assignment of Rents Clause- is a provision in a deed of trust or mortgage. Bearer- a person who presents a check or other order to pay money. Bona Fide Purchaser for Value- referred to more completely as a bona fide purchaser for value without notice – is a term used in the law of real property and personal property to refer to an innocent party who purchases property without notice of any other party's claim to the title of that property. Broker Lien- a right to property or payment that a broker has if the buyer does not pay the money owed to the broker for a sale: Collateral- something pledged as security for repayment of a loan, to be forfeited in the event of a default. Contractor- a person or company that undertakes a contract to provide materials or labor to perform a service or do a job. Default Clause- a failure to act, esp. a failure to meet a financial obligation or to appear in a court of law at a time specified Deficiency Judgment- is an unsecured money judgment against a borrower whose mortgage foreclosure sale did not produce sufficient funds to pay the underlying promissory note, or loan, in full. Disinterested...
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...made and everyone has various options that are available to them depending on credit status, military service connections, loan to income ratios, and the total amount desired to borrow. My family needs a home large enough to adequately support a family of 7 and have a mortgage that is under $2,800.00 a month, which would include the principle payment, interest payment, and escrow taxes and insurance. Ideally, avoiding points, unnecessary closing costs, private mortgage insurance and pre-payment penalties is also a priority because it helps to keep short and long term costs lower. After thorough research of market options, we were able to secure a VA funded loan for our home. The total loan amount is for $360,000, which is 100% loan to value. One of the added benefits of a Veterans Administration loans is that it is one of the only loans available that allows a borrower to borrow up to 100% of the home’s current market value. There are not many lenders that allow “no down payment” mortgage options any more. The appraisal process needs to be performed by a VA affiliated appraisal company, which means that the buyer cannot hire their own personal appraisal company and submit to your lender. The rate for our loan is 4.25% for 30 years with no points, no prepayment penalty, and no private mortgage insurance. With all VA loans that are 100% loan to value ratio,...
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...* RABBI, MD. FAZLAY 12-20952-1 * RABI, OBAIDUL ISLAM 12-20984-1 * RINKY, ROZINA AKTER 12-20929-1 * HABIBA UMMA 12-20930-1 * CHOWDHURY, MD. RIASAT IMTIAZ 12-20934-1 * SHAWON, SHAHRAJ HOSSAIN 12-20950-1 TABLE OF CONTENTS 1. History 2. Cascade Approach 3. Mission & Vision 4. Different Objectives 5. Human Resource Planning 6. Marketing Mix 7. Training 8. Remuneration/Benefits 9. Privacy & Security System 10. Loans 11. Types Of Banking 12. Conclusion History The Hongkong and Shanghai Banking Corporation Limited is a prominent bank established and based in Hong Kong since 1865 when Hong Kong was a colony of the British Empire. It is the founding member of the HSBC Group and since 1990 is now a wholly owned subsidiary of HSBC Holdings plc. The company's business ranges from the traditional High Street roles of personal finance and commercial banking, to corporate and investment banking, private banking and global banking. It is the largest bank in Hong Kong with branches and offices throughout the Asia Pacific region including other countries around the world. HSBC started operations in Bangladesh in 1996. The bank primarily focuses on urban areas and has branches in most areas of the capital city of Dhaka, it also has branches in the cities of Chittagong and Sylhet. In Bangladesh the bank has network of 13 offices, 38 ATMs, 9 Customer Service...
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...Organization Consulting Project (O.C.P) On SME Banking of BRAC Bank Limited Submitted by : Nishat Farhana Matric No- B061409 22 Batch, BBA Submitted to : Kazi Farzana Lecturer in Management, IIUC,DC. Department of Business Administration International Islamic University Chittagong Date of Submission:12-12-2010 DECLARATION This is to notify that this presented report titled "SME Banking of BRAC Bank Ltd." is written as a requirement of Ocp. I also confirm that this report is prepared solely for the academic requirement and not for any other purposes and for the use of any other party. Signature ........................... Nishat Farhana Matricno.:B061409 Program: BBA, Batch: 22B 1, Major in Marketing Department of Business Administration, International Islamic University Chittagong, Dhaka Campus. Letter of Submission Dated: December 12, 2010 To, The Head, Department of Business Administration, International Islamic University Chittagong, Dhaka Campus. Subject: Submission of research report based on“SME BANKING OF BRAC BANK LTD” Dear Sir, It is very pleasure & opportunity to submit my research report on “SME BANKING OF BRAC BANK LTD”-a study of BRAC BANK Limited. As per my organizations requirement & supervisor’s suggestion and guidance, I have tried my best to make the report effective and standard. I have closely studied the operations & functioning of the company. Still if there is any room for further clarification...
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...BWBS3043 ISLAMIC BANKING MANAGEMENT TABLE OF CONTENTS BIL 1.0 2.0 CONTENT Islamic Contracts in Islamic Bank INTRODUCTION OF THE SELECTED BANK 2.1 2.2 2.3 Background of Affin Bank Berhad Background of Islamic Affin Bank Berhad Background of RHB Islamic Bank Berhad PAGE 2 5 5 6 7 8 8 12 15 17 18 47 3.0 LOAN AND FINANCING SERVICES 3.1 3.2 Affin Bank Berhad Services Affin Islamic Bank Berhad Services 3.2.1 3.2.2 3.3 Trade Financings Contracts Financing RHB Islamic Bank Services 4.0 Comparison of Products between Conventional Bank and Islamic Bank 4.1 Affin Bank Berhad and Affin Islamic Bank Berhad 19 20 5.0 References Page | 0 BWBS3043 ISLAMIC BANKING MANAGEMENT 1.0 ISLAMIC CONTRACTS IN ISLAMIC BANK Definition It involves a contract between the seller and its buyer for the sale of goods at a price that includes an agreed profit margin, either a lump sum or percentage of the purchase price. The seller will purchase the goods that requested by buyer and will sell them to buyer with a mark-up. Contracts Murabahah (cost-plus financing) Mudharabah (profit sharing) Contract with one party providing 100 per cent of the capital (Rabb al-Mal) and the one party (the mudharib) providing its expertise to invest the capital and manage the investment project. Profits generated are distributed according to a pre-determined ratio, but it like the capital itself that cannot be guaranteed. The provider of capital was the losses, who have no control over the management of the...
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...CHAPTER-1 INTRODUCTION 1.1 Introduction: Loans comprise the most important asset as well as the primary source of earning for the banking financial institutions. On the other hand, this (loan) is also the major source of risk for the bank management. A prudent bank management should always try to make an appropriate balance between its return and risk involved with the loan portfolio. An unregulated banking financial institution might be fraught with unmanageable risks for the purpose of maximizing its potential return. In such a situation, the banking financial institutions might find itself in serious financial distress instead of improving its financial health. Consequently, not only the depositors but also the general shareholders will be deprived of their money from the bank. The deterioration of loan quality will also affect the intermediation efficiency of the financial institutions and thus the economic growth process of the country. This establishes the fact that banks should provide increasing emphasis on various analytical tools and techniques for screening proposals and loan decision taking. Credit Worthiness Analysis is one of the most important activities before sanctioning any credit to a new borrower as well as existing borrower to avoid any default risk and for improving the operational efficiency of nationalized and private sector commercial banks. 1.2 Rational of the study: The principal function of the bank is to lend. Lending comprises a very...
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