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profit sharing plan
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Profit-Sharing Plan
In any business, the bottom line is profits. A profit sharing plan is a great way to reward employees for their hard work and dedication by sharing in a portion of the company’s profits. This type of plan is an excellent way for companies to incentivize employees to strive ......
1151 
Oliver
Subsequent expenditure of fixed assets
Expense of Fixed Assets
When an asset is purchased, the value of the asset is not only its purchase price, but also the necessary expenses that follow the purchase. These expenditures are known as the expenses of fixed assets, or costs to maintain or use fixed assets.
Typically, the expenses of f......
Decrease in fixed assets
Fixed Asset Reduction
Fixed assets are items of long-term value, such as equipment, vehicles, buildings, furniture, and intangible assets, owned by an organization. They are non-living items that are necessary for successful business operations, and are expected to remain in use for more than one......
Fixed Assets Clearance
Fixed Asset Disposal
Fixed asset disposal is a process by which businesses discard of assets that are no longer useful or necessary. This can be done through selling, recycling, scrapping or donating the asset. Disposing of fixed assets can help a business reduce costs and keep the workplace orga......
Income tax accounting for consolidated entities
accounting for income taxes of a merged entity
In a corporate merger or acquisition, various tax treatments need to be considered, including those for income taxes. This paper will provide an overview of the issues to be addressed when accounting for income taxes in a merged entity.
Under Gene......
partnership liquidation
Introduction
Partnership liquidation is the closure of a partnership business due to a variety of reasons such as death, dissolution by the court, or through mutual agreement. To ensure a smooth liquidation process, one has to follow certain steps, among them being:
1. Termination of the partne......
target responsibility
Scheduling is an important part of any workplace. Schedules are used to track employees work hours, set deadlines for tasks, and manage workflow. Working with a schedule gives employees direction and allows them to see the big picture when it comes to their job responsibilities.
Creating an effec......
doomsday management
Introduction
One of the largest-scale financial events of the year is the end of the year. It can be both an exciting and intimidating experience for many people around the world. Many businesses and organizations need to pay attention to their gains and losses, as well as possible tax deductions......
target cost
Cost Control
Cost control, also known as cost management, is an important aspect of any type of business. Companies strive to conserve resources and streamline processes, in order to cut costs. Cost control is about controlling the costs a company incurs for materials, labor, and overhead. It is ......
sum of years' digits
The sum of the years digits method is a depreciation method used for allocating the cost of a tangible asset over its useful life. This method is used for calculating the value of depreciation for tax and other financial reporting purposes. The method is also known as the fractional life method or......
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