Managerial Accounting Essay - 630 Words

Quiz Questions for Chapter 1 1. Waverly Company paid $5,000 cash for wages of production workers. This business event would: a. increase total assets and total equity. b. increase one asset account and decrease another asset account. c. decrease total assets and total equity. d. decrease one asset account and increase an equity account. 2. Warren Company makes candy. During the most recent accounting period, Warren paid $3,000 for raw materials, $4,000 for labor, and $2,000 for overhead costs that were incurred to make candy. Warren started and completed 10,000 units of candy, of which 7,000 were sold. Based on this information, Warren would recognize which of the following amounts of expense on the income†¦show more content†¦zero. b. $3,000 c. $2,500 d. $2,000 6. Which of the following items is not a product cost? a. Cash paid for wages of production workers. b. Cash paid for salary of production supervisor. c. Cash paid for wages of a maintenance crew that cleans the manufacturing facility. d. All of the above are product costs. 7. Consolidated Company makes cardboard boxes. During the most recent accounting period Consolidated paid $60,000 for raw materials, $48,000 for labor, and $52,000 for overhead costs that were incurred to make boxes. Consolidated started and completed 400,000 boxes. Based on this information, what is the average manufacturing cost per box? a. $0.40 b. $0.56 c. $0.50 d. $0.27 8. Consolidated Company makes cardboard boxes. During the most recent accounting period Consolidated paid $60,000 for raw materials, $48,000 for labor, and $52,000 for overhead costs that were incurred to make boxes. Consolidated started and completed 400,000 boxes. Consolidated desires to earn a gross margin that is equal to 40% of product cost. Based on this information the selling price per box is: a. $0.40 b. $0.56 c. $0.50 d. $0.70 9. Which of the following is a characteristic of managerial accounting information? a. It is historically based. b. It involves continuous reporting. c.Show MoreRelatedManagerial Accounting608 Words   |  3 PagesH. Xue Managerial Accounting 2015 Spring Homework 1 (Individual Assignment, Due on 02/11) 1. Das Doors Inc. has recorded the following costs at various volumes of production: Production Volume Total Costs 600,000 $700,000 400,000 500,000 200,000 300,000 Determine the fixed cost and per-unit variable cost using High-Low method. 2. Adams Company sells a single product. The product sells for $100 per unit. The company’s variable expenses are 80% of sales and its fixed expenses total $150Read MoreRole Of Managerial And Managerial Accounting1029 Words   |  5 PagesThe role of managerial accounting has played a significant role in the success of businesses dating as far back as the 19th century. Service and production operations during the days of the industrial revolution were not nearly as sophisticated then as they are today. The current initial purpose of managerial accounting is comparable to its purpose throughout history. Managerial accounting has historically been useful in assisting managers with the information they need to make important decisionsRead MoreManagerial Accounting2802 Words   |  12 Pages1. Basic Concepts Product cost = Direct Labor (DL) + Direct Materials (DM) + Manufacturing Overhead (MOH) Financial accounting Managerial Accounting + Sales + Sales - COGS - Variable Costs = Gross Profit = Contribution Margin - SGA - Fixed Costs = Net Profit = Net Profit COGS (Cost of Goods Sold) is an â€Å"inventoriable cost† ( recorded in the Balance Sheet as inventory and expensed (Income Statement) when goods are sold SGA (Selling, General Administrative) areRead MoreFinancial Accounting And Managerial Accounting1613 Words   |  7 PagesIntroduction: Both financial accounting and managerial accounting provide important information about the business process. On the one hand, financial accounting provides only financial information to its internal users and external users. On the other hand, managerial accounting basically communicates about financial and non-financial information with internal users such as managers, employees and owners of the company. In other words, managerial accounting provides information to managers who directRead Moremanagerial accounting Essay946 Words   |  4 Pages Managerial Accounting Chapter # 01 Homework 1 01) How does managerial accounting differ from financial accounting? A: Managerial accounting is concerned with providing information to managers for use inside the organization. Financial accounting is con ¬cerned with providing information to stockhold ¬ers, creditors, and others outside of the organi ¬zation. 02) Pick any major television network and describe some planning and control activities that its managers would engage in. A: FiveRead MoreManagerial Accounting1054 Words   |  5 Pagesï » ¿CHAPTER 1 (Introduction to Management Accounting) P-1-4A The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2014. Raw Materials Factory Insurance $ 4600 Inventory 7/1/13 $ 48000 Factory Machinery Raw Materials Depreciation 16,000 Inventory 6/30/14 39,600 Factory Utilities 27,600 Finished Goods Office Utilities Expenses 8,650 Inventory 7/1/13 96,000 Sales Revenue 534,000 Finished Goods Sales DiscountsRead MoreManagerial Accounting And Its Techniques2715 Words   |  11 PagesRunning head: MANAGERIAL ACCOUNTING AND ITS TECHNIQUE 1 MANAGERIAL ACCOUNTING AND ITS TECHNIQUES 12 Managerial Accounting and Its Techniques Melissa Reppert BUS 630: Managerial Accounting Dr. Veliota Drakopoulou May 11, 2015 Introduction Management Accounting is an important activity within an organization. It plays several functions in any organization through the actions undertaken by management accountants. AccordingRead MoreIssues of Managerial Accounting1047 Words   |  5 PagesINTRODUCTION : Managerial accounting is concerned with providing information to managers – that is , people inside an organization who direct or control it’s operations. Via managerial accounting managers understood that good business results come from dynamic processes , procedures and practices that are well designed and properly implemented and managed. Certified management accountants are qualified to help their fellow managers achieve good business results because they have earned an advancedRead MoreImportance of Managerial Accounting1005 Words   |  5 PagesIntroduction The purpose of management accounting in the organization is to support competitive decision making by collecting, processing, and communicating information that helps management plan, control, and evaluate business processes and company strategy. The interesting thing about management accounting is that it is rare to find an individual within a company with the title of â€Å"management accountant.† Often many individuals function as accountants within the organization, but these individualsRead MoreThe Purpose Of Managerial Accounting2785 Words   |  12 PagesManagerial accounting is helpful to the managers in of identifying, measuring, analyzing, interpreting and communicating information for the pursuit of organization’s goals. It contrast with financial accounting in that later is aimed to provide information to external user of accounting information while managerial accounting it’s aimed at helping the mangers to make decision in the organization. Purpose of managerial accounting The purpose of management accounting in the organization is to support

Dissociative Identity Disorder Sybil And Primal Fear

Rachel Milbourn Dr. Ozegovic Abnormal Psychology 210 7 October 2015 Dissociative Identity Disorder: Sybil and Primal Fear In the films â€Å"Sybil,† and â€Å"Primal Fear† both characters Sybil, and Aaron seem to be suffering from dissociative identity disorder. According to Comer (2014), someone with dissociative identity disorder, or also known as multiple personality disorder establishes two or more recognizable personalities, often called alternate or sub personalities. Each personality has their own particular set of behaviors, memories, emotions and thoughts and will most likely have a primary personality that emerges more often than the other personalities. â€Å"The transition from one subpersonality to another, called switching, is usually sudden and may be dramatic. Switching is usually triggered by a stressful event, although clinicians can also bring about the change with hypnotic suggestion.† (Comer, P. 159, 2014) According to Comer, the subpersonalities of people with dissociative identity disorder all often portray startling different characteristics. They also may have their own names, different identifying features, abilities and preferences, and even physiological responses. â€Å" It is not uncommon for the different subpersonalities to have different abilities: one may be able to drive, speak a foreign language, or play a musical instrument, while the others cannot.† (Comer, P. 160, 2014) When someone with DID experiences switching of the personalities, they seem toShow MoreRelatedTrying to Understand Dissassociative Identity Dissorder Essay1967 Words   |  8 PagesTrying to Understand Dissassociative Identity Dissorder Dissociative identity disorder, more commonly known as multiple personality disorder, is one of the most intriguing and least understood of mental disorders. The publication of Sybil in 1973 created a wave of public fascination and, more importantly, professional recognition of childhood physical and sexual abuse as precipitants of the disorder. Dissociative identity disorder is characterized by the presence of ...at least two separate

The Effects Of Smoking Ban On Employees And Passive...

Investigating the effects of Workplace Smoking Ban Contents Investigating the effects of Workplace Smoking Ban 1 Aim and Objectives 1 Literature Review / Research Background 2 Research Rationale 3 Learning Outcomes 3 Study Design 4 Type of Study 4 Type of Design 4 Data Types 4 Ethics 5 Risk 5 Required Resources 5 Research Time Frame 5 References 6 Aim and Objectives The kay aim of the research is to investigate the effects of smoking ban at work place on employees and these effects may include health effects (employees and passive smokers) and any change in employees’ behaviour and smoking habits. This research aim will achieved with the help of the following specific objectives †¢ To investigate the health effects of workplace smoking ban on employees and passive smokers at work place and home †¢ To critical analyse if workplace smoking ban encourage people to quit smoking †¢ To critically analyse if workplace smoking create any work related issues at work place †¢ To make recommendations for making workplace smoking ban successful Literature Review / Research Background Workplace smoking ban is one of the important tobacco control policy and have a very mix effects at work place. In the past few years many European countries have banned smoking at workplace. It has been started from Ireland and Netherlands in 2004. In literature there are many positive views among researchers about the workplace smoking ban. For example a study conducted by Trosclair et alShow MoreRelatedShould Smoking Be Banned Public Smoking?1263 Words   |  6 PagesOne Ban That Doesn’t Stink: Banning Public Smoking Do people know that cigarettes are responsible for more causalities each year than from HIV, illegitimate drug use, alcohol related incidents, and automobile calamities combined? It is one of the only permissible products that have been long-established to kill when used as intended. Tobacco usage is the main source of avoidable and premature death and disease worldwide according to the Centers for Disease Control and Prevention. Medical studiesRead MoreAir Pollution Is A Serious Problem1507 Words   |  7 Pageswere implemented by different states and local officials to meet its criteria. Through the years, awareness against smoking has grown indefinitely and the harmful effects in environments, insisting to create policies. The state of Minnesota passed a policy in 2007 that is called the Minnesota Clean Indoor Air Act. The policy in Minnesota’s legislation was passed to regulate where smoking tobacco is permitted in the state. The Minnesota Clean Indoor Air Act (MCIAA) was first enacted in 1975 in orderRead MoreHow Can Such a Life Threatening Issue Be Overlooked So Easily?1611 Words   |  7 Pagescigarette smoke, but not all of them are smokers. Conclusive information shows, â€Å"Since the 1964 Surgeon General’s Report, 2.5 million adults who were nonsmokers died because they breathed secondhand smoke† (â€Å"Health Effects†). These nonsmokers, who died from secondhand smoke related illnesses, were exposed to secondhand smoke throughout their lives in order for these illnesses to develop. Most adults who suffer from secondhand smoke re lated issues were raised in homes where their parents smoked, which leftRead MoreFundamentals of Hrm263904 Words   |  1056 Pagesof Selection 154 PART 4 Chapter 8 Chapter 9 TRAINING AND DEVELOPMENT Socializing, Orienting, and Developing Employees 182 Managing Careers 208 PART 5 Chapter 10 Chapter 11 Chapter 12 Chapter 13 MAINTAINING HIGH PERFORMANCE Establishing the Performance Management System 230 Establishing Rewards and Pay Plans 260 Employee Benefits 286 Ensuring a Safe and Healthy Work Environment 312 PART 6 Chapter 14 LABOR–MANAGEMENT ENVIRONMENTS Understanding Labor Relations and CollectiveRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesobtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290. Many of the designations by manufacturers and sellers to distinguishRead More_x000C_Introduction to Statistics and Data Analysis355457 Words   |  1422 PagesPrinter: Courier Corporation/Kendallville  © 2008, 2005 Duxbury, an imprint of Thomson Brooks/Cole, a part of The Thomson Corporation. Thomson, the Star logo, and Brooks/Cole are trademarks used herein under license. ALL RIGHTS RESERVED. No part of this work covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, taping, Web distribution, information storage and retrieval systems, or in any other manner—withoutRead MoreMarketing Management130471 Words   |  522 Pagesnormally considered as products and services, what is being marketed might include (a) ideas such as reducing air pollution or contributing to the red cross (b) people, such as new football coach or a political candidate and (c) places, such as industrial plant sites or a place to for a vocation. In a broad sense markets include more than the direct consumers of products services and ideas. Thus a state university’s market includes the le gislators who provide funds, the citizens living near the university

Disadvantages Of E Commerce - 1457 Words

Thanks to development technology, e-commerce, which has revolutionized nearly every industry in the world has become more and more popular and effect on a business and people (Bandyo-Padhyay, N. 2002). According to Bandyo-Padhyay. N (2002), it is a trendy expression that web based business performed in the right on time to the center of the 1990s and quickly turned into a typical term in the business and scholastic world. Internet business (Electronic trade) implies working business electronically which is exchanging products, services, and expertise utilizing PCs connected to each other. Nowadays, a business should respond to the growth of e-commerce, if they want to remain competitive. This essay will show the importance of e-commerce,†¦show more content†¦Another statistics of e-commerce is electronic commerce market in the United Kingdom. In the UK, the percentage of the internet user who made a purchase online in 2015 was just over 75 percent, according to Gemma (2016) and after it encouraged online sales to grow by 16.2 percent, it stood at 14.9 percent in 2016. There are many good examples of e-commerce companies, such as Amazon, Vauxhall, Tesco, Newham Online, Priceline, The Flying Noodle†¦ According to Bidgoli, H (2001), Amazon is an example of the potential of e-commerce for an entrepreneur with the right vision and it shows how a small company can be a threat to the large and established ones with the help of e-commerce. Amazon founded in 1995, this firm was the creators of e-commerce and the first to offer the book on the web. The entrepreneur of Amazon is Jeff Bezos who foresaw the fascination for the client of hunting for books to purchase on their PC or advanced mobile phone, perusing surveys and extracts on the web and choosing and purchasing without visiting the store. Besides, large companies, such as Vauxhall and Tesco have gained a rival benefit by utilizing their sites to set up better client connections and quicker development of products (Bidgoli, H. 2001). Firstly, Tesco has known quick movingShow MoreRelatedAdvantages And Disadvantages Of E-Commerce958 Words   |  4 PagesAbstract E-Commerce Ecommerce (or electrical commerce) refers to the shopping for and mercantilism of products and services via electronic channels, primarily the net. On-line retail is unquestionably convenient because of its 24-hour handiness, international reach and usually economical client service. The invention of quicker net property and powerful on-line tools has resulted in a new commerce arena – Ecommerce. Ecommerce offered several blessings to firms and customers however it additionallyRead MoreThe Pros And Disadvantages Of E-Commerce1286 Words   |  6 Pagesreveal a large shift from the number of consumers shopping in physical stores to those utilizing online storefronts and virtual market places. Quite frankly, visiting brick-and-mortar stores is becoming the old-fashion style of retail shopping. E-commerce giants, Amazon for example, make it incredibly difficult for small mom and pop shops and even billion dollar corporations such as Walmart to function at their highest possible levels. However, there are flaws in a world comprised solely of virtualRead MoreAdvantages And Disadvantages Of E-Commerce899 Words   |  4 PagesInternet, so this essay will address the problems facing old industries adapting to O2O e-commerce and will propose several solutions. How to avoid being eliminated in the new e-commerce? The traditional physical industry facing enormous challenges.O2O business model provides a solution of e-commerce in traditional physical industries. The model of O2O shopping platform refers to a business model in which the e-commerce corporations or merchants, who, through the establishment of physical stores, expandRead MoreAdvantages and Disadvantages of E-Commerce Essay1946 Words   |  8 PagesJames Davis Advantages and Disadvantages of E-commerce Bus 107 Debra Wilson November 22, 2010 Abstract In today’s economy, business moves at a rapid pace and shows no sign of slowing down. Many of the revolutionary changes that have taken place and supplied this economic engine with fuel are due to electronic commerce. The introduction of the computer into the workplace has brought about manifold changes and seemingly unlimited possibilities for merchants. This new technology offers manyRead MoreThe Effects Of E Commerce On Global Trade1524 Words   |  7 PagesThe effects of E-commerce in Global Trade Introduction E-commerce is a term describing a new and innovative more efficient way of doing business completely by use of the internet, to conduct trade dealings both on a national and global scale. E-commerce offers a different mode of performing trade throughout the world without the need for tangible contact between the buyer and seller. The new transaction mode of purchasing and supplying goods has become explosive in terms of efficiency, competitivenessRead MoreBusiness And Consumer E Commerce873 Words   |  4 PagesWhat is Business to Consumer e-Commerce? Business to Consumer e-Commerce, also referred to as B2C, is the process of selling goods and services over the Internet rather than having a traditional brick and mortar outlet to sell such products. Businesses establish a website or electronic marketplace with multimedia catalogs, interactive order processing, protected electronic payment systems, while also offering online customer support which allow consumers to shop and purchase items in confidenceRead MoreEssay on E-commerce678 Words   |  3 Pagesways to secure electronic marketing online, there is a greater need for E-commerce. Whatis.com defines E-commerce (EC) as the â€Å"buying and selling of goods and services on the Internet. As more and more companies accept the challenge of E-commerce, e-business security and security software is becoming a factor that corporations need to meet. We will discuss what E-commerce is and how it is used and the advantages and disadvantages. Security systems for EC have four categories that include: Authentication:Read MoreQuiz on Information Systems and Outsourcing848 Words   |  3 PagesDatabase Support, Application Support and Software Support. Management Support includes Quality Management and Project Management. The following is a graphic representation of this type of a typical IS or IT organization. Explain the advantages and disadvantages of outsourcing. Contrary to popular opinion, the greatest advantage of outsourcing isnt cost reduction; its the ability to gain much-needed expertise and insight that a company could not otherwise get. When the advantages of outsourcing areRead MoreUsing The Latest Trends Of Business Processes1142 Words   |  5 Pagesidentify and to enumerate the benefits and disadvantages of adopting the latest trends, especially advancements in technology, in small-scale businesses. A brief summary of a scenario involving non-fictional characters is included to depict similar real-world conundrums faced by entrepreneurs. This paper first illustrates the benefits of incorporating the aforementioned trends into small-scale businesses, and then moves on to list and to discuss its disadvantages. Lastly, the paper weighs the pros andRead MoreStarting a Business Online Essay1161 Words   |  5 PagesIntroduction This report will explain the understanding of a small, local clothing store along the Jersey Shore boardwalk that wants to engage in e-Commerce. It will identify the advantages and disadvantage of taking a small business online by performing a SWOT analysis. It will provide key issues that any company faces when it conducts international commerce that includes trust, culture, language, government, and infrastructure. The businesses that operate on the Web that extends a company’s reach

Critically Evaluating the Relationship Between Language...

The development of language and how these changes have impacted on learners’ literacy will be discussed throughout this essay, conveying factors such as the relationship between language and social processes, how language and literacy is influenced by personal, social and cultural factors also relating to the effects that barriers to learning have as well as shared contextual knowledge of language that learners’ have. Various other reasons for language change and development such as accents and dialect, differences between spoken and written English and the influences the internet has from social networking sites, the use of text messaging as a form of communication and the effect it has on literacy will be discussed and argued.†¦show more content†¦Cultural differences have also been noted in the ways in which language is used pragmatically. New skills are typically taught and learned through verbal instruction (Slobin, 1979). In some cultures, new skills are learned through nonverbal observation. A distinction has also been made between cultures that encourage independent learning and those that encourage cooperative learning (McLeod, 1994). Learners rely on a shared understanding of an acquired vocabulary of the Standard English language in communication, and throughout the course of a lifetime this will extend, change and vary. Throughout education, learners are given repeated experiences of the meanings of entities within certain subject areas and depending on academic development, experiences and interests, these areas will broaden. Equally, interpretation of language will develop, modify and change. As a result, knowledge of language is dependent amongst other things within the educational, socio-cultural, and geographical backgrounds, contextual knowledge of a topic and the age and gender of the learner. Therefore the interpretation and understanding of language is reliant on external sources as well as facilitating and acquiring these skills through exposure to language learning material at an academic level. (Locke, 1971) The earliest known residents of theShow MoreRelatedAction Research and Autoethnography5049 Words   |  21 Pagescoined 70 odd years ago, this methodology is described as being emergent in nature (Costello, 2011). It is a methodology which has shown to constantly develop over time through the introduction of new models, cycles and justifications for its stance in social science research. Particularly in the last 15 years, the recognition of action research as a valued methodology has changed. In 1999, Avison et al. commented that the academic community had almost totally ignored action research. Across 19 academicRead MoreStrategic Human Resource Management72324 Words   |  290 PagesResource Management Introduction What is Strategy? What is Strategic HRM? How is Strategic HRM Different from Other Aspects of HRM? How Does Research Show that Strategic HRM Adds Value to an Organisation? How Does Strategic HRM Support the Management of Change? Who Holds the Responsibility for Strateg ic HRM? When is it Appropriate to Create a Dedicated HR Function? Vertical Integration and Human Resources Strategy Introduction What are the Benefits of Vertical Integration? How do we Promote the VerticalRead MoreArticle: Performance Appraisal and Performance Management35812 Words   |  144 Pageshow the performance management system came to the practice. The main purpose of this paper is to differentiate these two systems, employee’s performance appraisal and management system. This paper uses a review of the literature to evaluate the development of appraisal system and argues the critic areas of appraisal system. The review identified as advancement in the management field and growing complexity in corporate sectors demand more capable HR, so mare appraisal of employee’s performance isRead MoreSales and Marketing for Financial Institutions80443 Words   |  322 Pages or transmitted in any form or by any means, whether electronic, mechanical or otherwise, witho ut the prior written permission of ASX Limited. Kaplan Higher Education acknowledges the support of Morningstar, EBSCO Australia and ProQuest in the development of its course material. Welcome Congratulations on choosing to complete your postgraduate studies with Kaplan. As an accredited higher education institution we specialise in postgraduate courses in applied finance and financial planning andRead MoreMarketing Management130471 Words   |  522 Pagesindustrial consumer behaviour Customer satisfaction Customer relationship management Marketing of services Rural marketing Types of marketing research Process of marketing research Tools and Techniques of marketing research Applications of marketing research Preparation of marketing research report Online marketing E-commerce Trends in marketing Page No. Marketing management – an introduction Unit structure: 1. Introduction 2. Learning Objectives 3. Marketing Management 3.1. Evolution of marketingRead MoreExploring Corporate Strategy - Case164366 Words   |  658 Pagesenlarge speciï ¬ c issues in the text and/or provide practical examples of how business and public sector organisations are managing strategic issues. The case studies which follow allow the reader to extend this linking of theory and practice further by analysing the strategic issues of speciï ¬ c organisations in much greater depth – and often providing ‘solutions’ to some of the problems or difï ¬ culties identiï ¬ ed in the case. There are also over 33 classic cases on the Companion Website. These are a selection

Sexual Harassment at the Workplace

Question: Describe about the Sexual Harassment at the Workplace. Answer: 1. It is imperative that the standard of behaviour at workplace should be different from that extended in personal relationships. At the workplace, all the parties are expected to demonstrate a professional behaviour that fosters mutual respect. In order to facilitate the same, organisations frame a code of conduct so as to enhance clarity in this regard. Further, the employees may be required to sign on code of conduct so as to ensure that violation leads to punitive action (UWA, nd). This difference of behaviour is required primarily because the expectations at workplace and that in the personal relationships are significantly different. Also, the behaviour at workplace is driven by code of conduct unlike personal relationships that are driven by personal values and beliefs. Further, behaviour at workplace is driven by remuneration unlike personal relationships where there is no remuneration for behaving in a certain manner (CRNBC, nd). Besides, behaviour at workplace is also driven by a hierarchy and related authority unlike personal relationships where the power factor is relatively less significant. 2. Sexual harassment may be concluded by the court if the given individual faces any of the following (FindLaw, nd). Sexual advances that are not welcomes Sexual favour request Any conduct (verbal or physical) which is of sexual nature Sexual harassment is essentially of two types. Hostile Work Environment - Creation of an offensive work environment where harassment is done through the means of demeaning jokes, pictures, comments of sexual nature. Quid Pro Quo- Extension of job benefits like promotion, salary increments, lucrative job profile on the basis of extent of sexual favour extended. Guidelines with regards to both the above types of sexual harassment must be considered by the court (Boland, 2005). Further, in determination of unwelcomed acts, culture plays a critical role. This is primarily because certain cultures are sexually more open while others are closed. As a result, gestures which are accepted in Western culture may be considered offensive and unwelcomed in Eastern traditional and orthodox culture. Thus, in determination of sexual harassment cases the court must take into consideration a host of factors including cultural background of both victim and perpetuator, underlying situation of harassment, past records of both parties along with the company policies on this matter (Gregory, 2005). 3. It is apparent from the given case that the risk of false sexual harassment claims cannot be ruled out especially considering the high compensation that may be derived in such cases. These claims may arise from any unsatisfied employee who may indulge in such cases for vested interests such as promotion or salary increment. As a result, in order to avoid such cases, it is imperative that an impartial enquiry must be initiated where both the parties should be given chance to present their case (Boland, 2005). This should be led by an internal committee which should be headed by an external and independent social worker or legal expert. In this regard, it is required that firstly the harassed should put forward the arguments and provide the relevant proof before the investigating committee which would decide whether to probe the case further or not. The committee should not react on mere allegations and once adequate proof is provided, then the alleged harasser must be given opportunity to defend his/her position (Gregory, 2005). Further, interview of co-workers should also be done and the whole social context must be considered before arriving at any conclusion. Also, it is imperative that stringent penalties (including imprisonment, hefty fines, defamation case) should be filed against any individual filing false sexual harassment case (Burr, 2011). References Boland, M.L. (2005), Sexual Harassment at the Workplace, New York: Sphinx Publishing Burr, C. (2011), False Allegations of Sexual Harassment: Misunderstandings and Realities, Retrieved August 05, 2016, from https://www.academicmatters.ca/2011/10/false-allegations-of-sexual-harassment-misunderstandings-and-realities/ CRNBC (n.d.), Professional versus personal relationships, Retrieved August 05, 2016, from https://www.crnbc.ca/Standards/resourcescasestudies/ethics/nurseclientrelationships/boundaries/Pages/PersonalVProfessional.aspx Gregory, R. (2005), Unwelcome And Unlawful: Sexual Harassment in the American Workplace, New York: Cornell University Press FindLaw (n.d.), Sexual Harassment: What is it?, Retrieved August 05, 2016, from https://employment.findlaw.com/employment-discrimination/sexual-harassment-what-is-it.html UWA (n.d.), University Policy on Professional and Personal Relationships in the workplace, Retrieved August 05, 2016, from https://www.hr.uwa.edu.au/policies/policies/equity/professional-and-personal-relationships-in-the-workplace

Australian Tax Laws Capital Gain Tax

Question: Discuss about theAustralian Tax Lawsfor Capital Gain Tax. Answer: Introduction As per the provision of Australian tax laws, if person is resident in the country, he would be eligible to claim all the benefits that are related and applicable on a resident as provided in the law. In the given case, Fred has entered into a contact where he has agreed to ale out his holiday home at Blue Mountains. In agreement of sale he has received $800,000 in February In relation to ensure that the sale took place, he has incurred legal fees of $1100 (Inclusive of GST) and real estate agents commission of $9,900 (Inclusive of GST). The holiday home that has been sold by him above was purchased in the year 1987 for $100,000. Fred in addition to the purchase consideration paid $2,000 as stamp duty on the transfer and $1000 as legal fees. In the 1990, he further incurred $20,000 on building of a garage on the property. For an individual there are majorly two sources of income one is the ordinary income and the one is the income from sale of capital asset. The income from ordinary sources refers to the income that has been earned by the person form the normal course of operations. For example: The income that an individual has earned from carrying out the normal day to day business operations are covered under the definition of ordinary income. On the other hand, the capital gain refers to the income that the person has earned from the sale of capital assets. The definition of capital asset whose income earned is defined in the income tax law. Any loss that has been booked by the person in the prior years from sale of capital asset can be carried forward and could be set off from the capital gain income that has been earned by the person in the coming years. Further being time is money, the sale of capital assets enjoys the benefit of indexation, the indexation bases has been determined by the incom e tax act and based on the same the purchase price of the asset is inflated and thus accordingly the capital gain or loss is determined. Further, any cost that has been incurred by the person in bringing the asset into a saleable form will form part of the purchase consideration and would be deducted will calculating the capital gain or loss from the asset. For a person who has been covered in the definition of resident, any capital gain that has been earned by him in anywhere in the world would be covered in the definition of capital gain as per Australian tax laws and would be taxed in the hands of the assessee. In the given case, Fred has received $800,000 has sales proceeds in return for the holiday home. He has incurred legal fees of $1100 (Inclusive of GST) and real estate agents commission of $9,900 (Inclusive of GST). Thus, in total $11,000 will be considered as cost and will be reduced from the sales proceeds at times of computing the capital gain on the property. No credit will be allowed for the GST portion being Fred is an individual who would not be eligible to claim any benefit for input GST credit. As per the provision of Australian tax laws, if any capital gain has been earned by a person from his main residence, the same would be exempt from the tax law. In the given case, it has been provided that the house at the Blue Mountains is a holiday home for Fred, thus the same would not be regarded as main residence, and hence the same would be taxable in the hands of Fred. Particular Amount Sales Proceeds of Holiday Home $ 800,000 Less: Legal fees paid $ (1,100) Less: Agent commission $ (9,000) Purchase consideration (After indexation) $ (186,536) Capital Gain $ 603,364 Particular Amount Purchase consideration (before indexation) $ 100,000 Stamp duty $ 2,000 Legal Fees $ 1,000 Building of Garage $ 20,000 Total cost $ 123,000 CPI for quarter ending 30 September 1999 68.7 CPI for quarter in which expenditure was incurred 45.3 Purchase consideration (After indexation) $ 186,536 Fred has some $10,000 worth of capital loss from sale of shares that he has booked in the last year. In that case, as per the provision of Australian tax laws, an individual can carry forward the capital loss that he/she has incurred in the prior years and can offset the same in the year in which they have made capital gain. However, there are some exemptions which need to be considered prior to offsetting the capital loss of the prior years. These exemptions are discussed below: Any capital loss that has arisen from sale of personal assets. Any capital loss arising from sale of exempt assets like s car and motor cycles, Any capital loss arising from sale of antiques, paintings and other collectibles. Now, in the given case, Fred has incurred losses from sale of shares in the last year, being sale of shares does not form part of the above list, thus, Fred can set off the losses from the capital gain made in the current year. Further, if the loss would have incurred on sale of some antique vase, then in that case no loss would be set off being the same fall under the definition of exemption discussed above. References ATO, Exemption to Capital gain tax, viewed on 25th Sept 2016, https://www.ato.gov.au/General/capital-gains-tax/cgt-exemptions,-rollovers-and-concessions/exemptions/ ATO, Indexation to Capital gain tax, viewed on 25th Sept 2016, https://www.ato.gov.au/General/Capital-gains-tax/In-detail/Calculating-a-capital-gain-or-loss/The-indexation-method-of-calculating-your-capital-gain/ ATO, Exemption to Capital loss carry forward, viewed on 25th Sept 2016, https://www.ato.gov.au/General/Capital-gains-tax/Working-out-your-capital-gain-or-loss/Working-out-your-net-capital-gain-or-loss/#capital_losses_you_must_disregard