Taxation Essay Example | Topics and Well Written Essays - 2750 words - 2

Taxation - Essay Example The conceptual framework of accounting holds accounting theories related to taxation together. The framework establishes goal and objectives of financial reporting by businesses. Financial accounting information provides useful information for making business and economic decision such as taxation (Riahi-Belkaoui, 2005, p. 121). The theory that financial reporting should avail significant information for taxation recognizes that reporting does not exist out of the legal, economic, political, and social environment. The conceptual framework of accounting ensures that accounting information in relation to taxation is relevant, comparable, reliable, and consistent (Bebbington, Gray & Laughlin, 2001, p. 97). Comparability and consistency of taxation benefit from having  Generally  Accepted Accounting Principles (GAAP). Adhering to financial statements to GAAP in relation to taxation means, they are consistent from year to year and the tax difference between various companies can be c ompared. Therefore, the accounting theories help in practical analysis of taxation in a business. The accounting theories of taxation function on four assumptions. The economic entity assumption illustrates that the practices of a business are distinct from the actions of the owner. It means that tax is computed separately for the company’s profit generation. In addition, the income tax of an employee is distinctively calculated in relation to the amount of salary gained. The going concern assumption states that when financial statements are prepared, the accountant assumes that the company will move without threat of dissolution or bankruptcy (Riahi-Belkaoui, 2005, p. 97). Therefore, it means that the likely taxable amount is already catered for in the financial statements hence in the event of taxation, the business does not feel any

International Tourism Development Assignment Example | Topics and Well Written Essays - 750 words

International Tourism Development - Assignment Example One of the most notable projects of WTO is The Silk Road Project which revitalizes the ancient highways used by Marco Polo through tourism. This project was adhered to by 22 countries and stretches 12,000 km. Another is the creation of Task Force for Destination management which is a move to further decentralize tourism administration on a global scale. Some concerns of the task force include management of congestion at coastal destinations; economic measurement of tourism at the local level; destination marketing for cities; information and communication technologies; human resource development; and risk and crisis management at individual tourism destinations. This has significantly improved tourism destinations, especially in emerging economies.It is irrefutable that tourism depends on the economic conditions of different nations. Currently, this is reflected by the tourism activities of the growing economies like China, India, and Brazil. As economies grow, it is often expected t hat the level of disposable income also rises and a significant portion of this increase in income will be spent on tourism. This fact is mirrored by the current trend in tourism. As more emerging economies are growing, there is a stronger demand for tourism. According to the World Tourism Organization, tourism for leisure surpasses tourism for business purposes in 2005.Sociocultural factors specifically the perceived importance of taking holidays and vacations are improving demand for tourism. The global mentality which is the current trend also increases the attractiveness of travel.Technological innovation also has a significant impact on the tourism industry specifically on how tourism business is conducted. The advent of internet technology proved to be highly beneficial in the marketing efforts of tourism companies. Consequently, firms are able to market at a lower cost, reaching more geographic locations and market at a faster and more efficient way. Another role of technolog y is the facilitation of e-conferences for the benefit of members.