CHAPTER 13 NON-FINANCIAL AND Current liabilitieS SOLUTIONS TO EXERCISES EXERCISE 13-1 (10-15 minutes) (a) Classifications on balance sheet prepared under ASPE: |1. |Current liability; financial liability. | |2. |Current asset. | |3. |Current liability or long-term
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Portfolio: Business and financial information Article 1 Source: News.com.au 20 May 2012 The name of the article is “Pressure on to secure staff”. It relates to Australia’s private owners struggling to retain and attract quality staff – but are also pulling back from strategies that would allow them to do so. PwC’s winter 2012 Private Business Barometer finds employment is a major challenge for private firms. The report shows about 39 per cent of businesses intend to pay bonuses, down
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factors are generally considered to be a substantial driver of raw materials price changes. Political unrest, weather and geological disasters, and global supply issues are the common factors that affect cost of goods sold. A change in materials price is a surefire way of affecting gross profit. Implementation of 6% GST by government As GST is more "efficient" than the current sales tax because it only taxes value added, and not gross sales value. This is hugely important for businesses, as it should
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Non-Financial and Current Liabilities → Understanding Non- Financial and Current Liabilities Objective 1: Understanding the importance of non-financial and current liabilities from a business perspective. Explanations about non financial liabilities under international standards are based on current: IAS 37 Provisions, Contingent Liabilities and Contingent Asset. It is important for businesses to properly account for their liabilities so they can keep an eye on their cash flows: * Taking
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small business owners, its constant lobbying towards the baby boomer generation, its current ageing population crisis and the permitted negative gearing of investment properties. Many sweeping reforms have been suggested in an attempt to rectify these issues, however it seems that no such recommendations have been implemented. Neutrality of Australia’s Tax System I believe that there are too many vested interests and rent seekers in today’s society for the Australian tax system to be neutral. However
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ARTICLE 1: COMMUNITY MUSIC LESSONS IMPROVE MINDS OF DISADVANTAGED KIDS SUMMARY This article is written by Shereen Lehman. It was about music lessons can improve the minds of children. Community based music lessons for disadvantaged youth can have positive biological effects on their brains. The children were actively playing instruments themselves rather than passively listening to others’ music. In this article, it explained that the children between the ages six and nine participated in
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Accg100 Accounting 1A Lecture Notes Semester 2, 2012 1 Table of Contents Lecture Notes Week 1: Introduction to Accounting, Ethics, Business Entities, Financial Statements Week 2: Accounting for Transactions –Part 1 Week 3: Accounting for Transactions –Part 2 Week 4: Accounting for Adjustments- Part 1 Week 5: Accounting for Adjustments- Part 2 Week 6: Completion of Accounting Cycle Accounting Systems Revision Chapters 1 – 4 Week 8: Accounting for Retailers Week 9: Accounting for Inventories
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Girls and Gangs For much of history, gang members who are female have generally been left out of the equation. When both the layman and the researcher looked at gang life, gang members, and how they function, rarely have women and their role in gang culture been considered. However, women have long played important roles in gang life, culture, and membership, and the importance of such cannot be ignored. When women in gangs are studied, patterns emerge, the paths that often lead to gang life
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Accg100 Accounting 1A Lecture Notes Staff version Semester 1, 2014 Table of Contents Lecture Notes Week 1: Week Week Week Week Week Week Week Week Week Week 2: 3: 4: 5: 6: 8: 9: 10: 11: 12 Introduction to Accounting, Ethics, Business Entities, Financial Statements Accounting for Transactions –Part 1 Accounting for Transactions –Part 2 Accounting for Adjustments- Part 1 Accounting for Adjustments- Part 2 Completion of Accounting Cycle Accounting Systems Revision Chapters 1 - 4 Accounting
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Letter of Advice Australian Flying School This letter is aim to identify all relevant tax issues in relation to AFS for the 2006/07 financial year. Main Issues (1) AFS was incorporated in State of Victoria in 1984; therefore, AFS is an Australian resident as defined in s6(1) ITAA36. AFS will need to pay tax on its taxable income, being the assessable income less deductions[1]. Assessable income includes ordinary and statutory income derived from all sources[2]; therefore, if the $3
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