Topic
Accounting period
About: Accounting period is a research topic. Over the lifetime, 157 publications have been published within this topic receiving 2245 citations.
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TL;DR: The combination of progressive income tax rates and the annual accounting period causes inequities between the taxpayers who receive their yearly incomes in stable amounts over a period of years and taxpayers whose incomes vary over the same period as discussed by the authors.
Abstract: tween progressive income tax rates and the annual accounting period Under the present rate structure, federal income taxes take a progressively larger share of the taxpayer's dollar as he moves up the graduated scale At the same time, the taxpayer is compelled to pay the tax at the end of each taxable year regardless of the amount of income he receives in other years No useful purpose would be served by discussing the theory behind each of these two cornerstones of the individual income tax Both are firmly imbedded in the foundation of the tax structure and are not likely to be replaced However, it is clear that the combination of progressive income tax rates and the annual accounting period causes inequities between the taxpayers who receive their yearly incomes in stable amounts over a period of years and taxpayers whose incomes vary over the same period For example, assume that A and B are unmarried taxpayers who are not heads of households They both receive the same total amount of taxable income over a period of four years A, an employee of a corporation, receives one raise in salary during this period B, a farmer, has two poor years because of bad weather conditions and then two good ones The tax liability of each (at constant 1955 rates) will be as follows:
1 citations
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01 Jan 1987
TL;DR: In this article, the authors consider the accounting treatment where there is rent owing at the balance sheet date or there are rent paid in advance at the date of the balance-sheet date, where the amount appearing in the rent account does not represent the true rent expense for that accounting period.
Abstract: In the examples which we have looked at so far we have considered that the expenses and income which we have entered in our accounts relate exactly to the period for which we are preparing the profit and loss account. For example, if there was a debit of £550 on the rent account, we assumed that that was the rent expense for that accounting period. We shall now consider the accounting treatment where that is not the case and either there is rent owing at the balance sheet date or there is rent paid in advance at the balance sheet date. In both of these cases the amount appearing in our rent account does not represent the true rent expense for that accounting period.
1 citations
28 May 2020
TL;DR: In this article, the authors identify that Internet supply chain finance may be a targeted solution to the difficulty of SMEs' financing under the background of the Internet and provide a range of suggestions to promote the Internet SCF.
Abstract: With the globalization and the division of labor among enterprises, the output of SMEs (small and medium-sized enterprises) has increased. At the same time, the cost of inventory and the inconsistency of the accounting period are testing the capital of SMEs. Especially in the context of the Internet, a lot of micro e-commerce companies emerge. This paper identifies that Internet supply chain finance maybe a targeted solution to the difficulty of SMEs' financing, under the background of Internet. Internet SCF has brought vigor to the financial market, which will eventually breaks the highly centralized financial system. To promote the Internet SCF, this paper provides a range of suggestions.
1 citations
01 Jan 1991
TL;DR: In this article, it was shown that the way in which wealth is measured in accounting terms can be roughly equated with balance sheets, and some of the issues arising from the alternative choices in respect of assigning monetary values to wealth measurement.
Abstract: We have already seen that we can measure profit by measuring wealth at two points in time. We have also shown that the way in which wealth is measured in accounting terms can be roughly equated with balance sheets, and we have looked at some of the issues arising from the alternative choices in respect of assigning monetary values to wealth measurement.
1 citations
TL;DR: In this article, the authors examine the factors that allow fraud to flourish at a low level, or "under the radar" of internal controls; describe some of the more common schemes that occur; and propose responses that management can implement to prevent fraud from occurring in the future.
Abstract: While the major “eye‐popping,” headline‐grabbing financial statement frauds have captured the attention of the investing public in recent years, little heed has been given to the smaller‐dollar, more repetitive frauds that occur in organizations year in and year out ‐ misappropriation of an entity’s assets, repeated during any given accounting period (e.g., month/year) in an amount insufficient to be detected by the entity’s system of internal controls. The purpose of this article is to examine the factors that allow fraud to flourish at a low level, or “under the radar” of internal controls; describe some of the more common schemes that occur; and propose responses that management can implement to prevent fraud from occurring in the future.
1 citations