Summary:
This article is about Income tax. Is getting a big income tax refund a good idea? U.S and Canada income taxes that are withheld in excess of the tax liability are refunded each year, some taxpayers intentionally overpay their taxes to get a large refund. In the United States, the person who are employed are required to file a W-4 form(which is like T-4 form in Canada) with their employee. including social security number,name and address, as well as tax information. It includes withholding allowances the employee is claiming and martial status, along their wages earned, certain amount of tax will be deducted from the paycheck.
Connection:
Income tax is a big deduction from every employee's wages. The more money you earned, the more taxes are deducted. Ch 16 had mentioned the taxes, but it doesn't present much information about it. So i think this article will help me understand more. Claiming too many allowances will result in underpayment of tax. Significant underpayments are subject to penalties and interest. It is therefore important to claim enough allowances, or to make estimated payments.
Reflection:
Every legal employees have to pay for the taxes, therefore, sometimes, The revenue agency is not able to make sure everybody get the exact or correct amount of tax refund. We have to be more aware of our own refund. Or maybe we overpaying the income tax.
Sunday, April 5, 2009
Ch 16 blog
Website:http://www.mefmaction.net/Home/tabid/36/Default.aspx
Summary:
The article is about Canada Pension Plan(CPP). It is a benefit for a person who is deemed disable when she/he is determined to have a severe and prolonged physical or mental impairment as a described in the criteria. A disability is severe only if by reason thereof the person in respect of whom the determination is made incapable of regularly pursing any substantially gainful employment. In addtion, criteira for CPP Disability Benefits include being between the ages of 18 and 65, and meeting the minimum contribution requirements or the minimum qualifying period.
Connection:
The connection i made between this article and chapter 16 is that both of them are talking about the CPP benefits. The chapter 16 showed us why there is a CPP benefits , and how to deduct money from the employee's income. But this article clearly tell us the requirement of applying CPP.It is an really useful article for the people who want to apply for it. For example: the doctors recommendation is needed, it proves that if you are able to work or not, because in some cases, people just trying to take money from the government.
Reflection:
After read this article, I feel glad of all Canadians, because i think in some countries like my home country China, there isn't much benefits like Canada. Because Chinese population is really large, so the government donesn't have able to look after every person. So, i think Canadians are very lucky to have such a good plan to protect disabilities.
Summary:
The article is about Canada Pension Plan(CPP). It is a benefit for a person who is deemed disable when she/he is determined to have a severe and prolonged physical or mental impairment as a described in the criteria. A disability is severe only if by reason thereof the person in respect of whom the determination is made incapable of regularly pursing any substantially gainful employment. In addtion, criteira for CPP Disability Benefits include being between the ages of 18 and 65, and meeting the minimum contribution requirements or the minimum qualifying period.
Connection:
The connection i made between this article and chapter 16 is that both of them are talking about the CPP benefits. The chapter 16 showed us why there is a CPP benefits , and how to deduct money from the employee's income. But this article clearly tell us the requirement of applying CPP.It is an really useful article for the people who want to apply for it. For example: the doctors recommendation is needed, it proves that if you are able to work or not, because in some cases, people just trying to take money from the government.
Reflection:
After read this article, I feel glad of all Canadians, because i think in some countries like my home country China, there isn't much benefits like Canada. Because Chinese population is really large, so the government donesn't have able to look after every person. So, i think Canadians are very lucky to have such a good plan to protect disabilities.
Monday, February 9, 2009
ch 15 blog
http://www.investingvalue.com/investment-articles/
Summary:
This is a acticle called. Obviously, it teaches us more information about financial statement. Like it's a very useful tool for judging the health of a company. They show what the company owes and owns. the profits or loses it has made over the period. However, the financial statement analysis will not always factor in significant news events, unexpected incidents, changes in management, and other factor which may influence share prices.
Connection:
The connection i made between the article and chapter 15 is that both of them are about the financial statement. The book is gaining a basic knowledge of financial statements, and we applying this knowledge when choosing or assessing investments. And the book also teach us about the calculation of ratios and percentages.
Reflection:
After i learned this chapter, i know that if i want to invest a company, I will look at the financial statement first. It gives us the ability to understand th numbers and simpler of financial ratios, and be able to use that knowledge to assist them to make better desicions.
Summary:
This is a acticle called
Connection:
The connection i made between the article and chapter 15 is that both of them are about the financial statement. The book is gaining a basic knowledge of financial statements, and we applying this knowledge when choosing or assessing investments. And the book also teach us about the calculation of ratios and percentages.
Reflection:
After i learned this chapter, i know that if i want to invest a company, I will look at the financial statement first. It gives us the ability to understand th numbers and simpler of financial ratios, and be able to use that knowledge to assist them to make better desicions.
Tuesday, December 9, 2008
ch 14 blog
http://www.creditorweb.com/articles/simplify-your-bookkeeping-with-credit-cards.html
Summary:
The article that i read was "Simplify your bookkeeping with credit cards".It tells the many benefits of using a credit card. Not only can simplify the bookkeeping tasks.we can save time and money as well by using it. If we know where all of our business money is going,we can better plan and budget for everything. It allows us to keep track of expenses easily and efficiently, ensuring that our business is operating at full efficiency and productivity at all time.In some cases, credit card companies offer reports in paper and digital form. The digital form of the reports can actually save a great deal of time.
Connection:
The connection i made with chapter 14 is that credit card is really helpful in our daily life.It's not only help in personal expenses, it can also help us to manage our finances at the same time, Many credit card companies that offer business credit card also offer reports of the account.This is a great way to determine where our expenses are going and whom they are going to.
Reflection:
After read this article, I start considering to get a credit card for myself. Many credit card business provide bonuses and rewards that i can earn with each purchase i made. This means i can save even more money on my personal expenses such as clothing, travel and so much more. And it's convenience to have a credit card. So that i can shopping without bringing much money.
Summary:
The article that i read was "Simplify your bookkeeping with credit cards".It tells the many benefits of using a credit card. Not only can simplify the bookkeeping tasks.we can save time and money as well by using it. If we know where all of our business money is going,we can better plan and budget for everything. It allows us to keep track of expenses easily and efficiently, ensuring that our business is operating at full efficiency and productivity at all time.In some cases, credit card companies offer reports in paper and digital form. The digital form of the reports can actually save a great deal of time.
Connection:
The connection i made with chapter 14 is that credit card is really helpful in our daily life.It's not only help in personal expenses, it can also help us to manage our finances at the same time, Many credit card companies that offer business credit card also offer reports of the account.This is a great way to determine where our expenses are going and whom they are going to.
Reflection:
After read this article, I start considering to get a credit card for myself. Many credit card business provide bonuses and rewards that i can earn with each purchase i made. This means i can save even more money on my personal expenses such as clothing, travel and so much more. And it's convenience to have a credit card. So that i can shopping without bringing much money.
Wednesday, October 22, 2008
Ch.12
Summary:
When you shop online as a consumer from an EU-based website you have the same rights as when you shop locally. The fact that you are not physically in the same area or in some cases the same country should not in any way interfere with your rights under consumer law. However, purchasers should exercise caution when buying on the internet. This article proposes to outline some of the issues facing a consumer when shopping online from EU-based websites. It does not deal with purchases made in the course of a business or a consumer purchasing from a private individual.
Connection:
The connection i made between the articles and the chapter 12 was claim the refund. We had learned how to handle the refunds in local stores. But do you know how to claim the refund if you want to buy the items on website? If the goods or services have already been paid for, the trader must refund the purchaser within 30 days of the cancellation date. If the trader refuses to refund the purchaser then the appropriate legal steps should be taken to obatain a refund.
Reflection:
After read this article, I have more concepts of how to protect myself either shopping in local stores or shopping online. Nowadays, many people shopping online. Because it's convenience and they could buy the things from other places. But sometimes this also cause many problems if the consumers are not satisfied with their items when they received it. So the consumers like myself should be more aware of taking refund when shopping online.
When you shop online as a consumer from an EU-based website you have the same rights as when you shop locally. The fact that you are not physically in the same area or in some cases the same country should not in any way interfere with your rights under consumer law. However, purchasers should exercise caution when buying on the internet. This article proposes to outline some of the issues facing a consumer when shopping online from EU-based websites. It does not deal with purchases made in the course of a business or a consumer purchasing from a private individual.
Connection:
The connection i made between the articles and the chapter 12 was claim the refund. We had learned how to handle the refunds in local stores. But do you know how to claim the refund if you want to buy the items on website? If the goods or services have already been paid for, the trader must refund the purchaser within 30 days of the cancellation date. If the trader refuses to refund the purchaser then the appropriate legal steps should be taken to obatain a refund.
Reflection:
After read this article, I have more concepts of how to protect myself either shopping in local stores or shopping online. Nowadays, many people shopping online. Because it's convenience and they could buy the things from other places. But sometimes this also cause many problems if the consumers are not satisfied with their items when they received it. So the consumers like myself should be more aware of taking refund when shopping online.
Tuesday, October 7, 2008
chapter 11 article
Summary:
The article is about a supplier has a product or group of products that he believes will sell if he can get them in front of end users. The trick is that getting them in front of end users means getting them stocked in retail establishments. Retailers are hesitant to stock the product because they do not have the same level of confidence in it as the supplier, they do not want to invest the money and risk getting stuck with something that may not sell. Because the supplier realizes in-store exposure is critical to getting his products sold, he offers to stock his product in their stores. This creates a condition of shared risk whereby the supplier risks the capital investment associated with the inventory while the customer risks dedicating retail space to the product. This also creates a condition of shared benefit because neither the supplier nor the customer will benefit until the product is sold to an end user. This shared-benefit condition will often be enough to convince a customer to stock the product.
Connection:
The connection i made between the article above and chapter 11 of accounting text book is the consignment inventory. As you read through the article, you would realize that consignment inventory is pretty complicated. But actually it has adventages and disaventages among the retailer and the supplier. For the retailer , he could share the profit by selling it to the customers. Even though he has a certain degree of risk,but compared it with the supplier, the supplier needs to provide the products and share the own profit with others. However; both of them have adventages such as share the risks, therefore, if the product is not sold out, they won't cause a lot of net loss.
Reflection:
After i read the article, I think the nature of consignmetn inventory is unrelated to the receipt processes. This is contrary to the basic design of most inventory systems transactional processes. Because of this, most inventory systems don't handle consignment inventory very well.This forces many businesses to manage consignment inventory with manual off-line processes (sending reports back and forth, maintaining data in spreadsheets, etc). Not only is this time consuming, but it also creates many opportunities for errors because the additional transactions necessary for consignment inventory can get rather complicated and are highly dependant on accurate information sharing. If this process is not monitored closely, it can end up in a bad situation.
Connection:
The connection i made between the article above and chapter 11 of accounting text book is the consignment inventory. As you read through the article, you would realize that consignment inventory is pretty complicated. But actually it has adventages and disaventages among the retailer and the supplier. For the retailer , he could share the profit by selling it to the customers. Even though he has a certain degree of risk,but compared it with the supplier, the supplier needs to provide the products and share the own profit with others. However; both of them have adventages such as share the risks, therefore, if the product is not sold out, they won't cause a lot of net loss.
Reflection:
After i read the article, I think the nature of consignmetn inventory is unrelated to the receipt processes. This is contrary to the basic design of most inventory systems transactional processes. Because of this, most inventory systems don't handle consignment inventory very well.This forces many businesses to manage consignment inventory with manual off-line processes (sending reports back and forth, maintaining data in spreadsheets, etc). Not only is this time consuming, but it also creates many opportunities for errors because the additional transactions necessary for consignment inventory can get rather complicated and are highly dependant on accurate information sharing. If this process is not monitored closely, it can end up in a bad situation.
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