Islam, Religion Of Equality - 1026 Words

Sheraz Shan Hussain Professor Iris Belen English 101 03 May 2017 ISLAM, RELIGION OF EQUALITY. Islam, a derivative of Arabic word â€Å"Saleema† signifying peace and submission has, since ancient times, offered equality for all human being irrespective of race, gender, ethnicity or color. A series of Prophets were send after Adam with a message of love and equality for one another and believe in the unity of God. The last great messenger before Muhammad was Jesus. Mentioned twenty five times in the Quran, Jesus is called the Messiah, the son of a virgin, and one who brought great signs from God. His message, the Gospel, is confirmed and described as consistent with the messages of all prophets. (Sonn, Tamara. Islam. Wiley. 2015). When the†¦show more content†¦From the life of the Last Prophet, there are many incidents in his life, where people can learn many things and can help humanity to help one another, to appreciate one another and to create a society where everyone is treated equally. From one of the famous inspiring incidents, a companion of the Last Prophet Muhammad, his name was Abu Zar Ghaffari, he had a little altercation with a worker, whose mother was from Africa, who was dark in color. In that altercation, the companion said one sentence as they were arguing, the companion says â€Å"O son of a black woman†. The worker immediately went to the Last Prophet Muhammad and complained on what the companion had said to him. After the Prophet met with Abu Zar, he confronted him by asking about the altercation. The prophet did not repeat the same words because it was a serious matter and the prophet did not want to even repeat those words. He told the Prophet that everything you mention in the altercation is true. Then the Last Prophet Muhammad said:â€Å" O Abu Zar, you are a man, who still have the qualities in you from the period of ignorance, before Islam, where people used derogatory terms to their fathers, mothers or one another. This is a major sin.à ¢â‚¬  That’s why, whether a Muslim or a non-Muslim, we the people should never use these kind of words to one another. MuslimsShow MoreRelatedThe Rise and Spread of Islam1129 Words   |  5 PagesThe Rise and Spread of Islam The world you once knew is falling to ashes and food is become such a scarcity that people are fighting over a few pieces of bread. The political class is too busy fighting among themselves to care for anyone else. Children are roaming the streets and begging for work to feed their dying, hungry stomachs. This is not a scene from a horror movie, but rather the reality of the beginning of post classical era. 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His advocacy was geared towards arm to emphasized black pride, unity,Read MoreEssay on Women In Islam1640 Words   |  7 PagesThe Women of Islam Society in western civilization sees Islams treatment of women as heinous, unfair, and typically cruel. How can one respect a religion and culture that makes their women cover themselves from head to toe in 100 degree weather, walk behind her spouse, enter separate doors of the mosque (if they are even allowed to enter), pray in an closed off area separate from the men, marry complete strangers, and receive little to no education. These few examples and a lot more can surelyRead MoreMuslim Women: Treated With Oppression Or Fairness?. When1429 Words   |  6 PagesMuslim Women: Treated With Oppression or Fairness? When I mention Islam, I am discussing its way of life, a concept that encompasses every aspect of one’s life from beginning to end. Islam, the newest and second largest faith, influences many parts of this earth as we discussed in class. Originating in the Arabian Desert, the religion is based on one book, The Holy Quran, the final word of Allah. Prophet Muhammed, in Islam, was the last messenger of God. His life is one that Muslims should followRead MoreThe Basics of Islam1816 Words   |  7 PagesThe religion of Islam is primarily centered on achieving peace and surrendering the self to the will of God or Allah and His Law. Islam began forming into the religion it is today under a prophet named Muhammad who became the final prophet of God, The Seal of the Prophets. Although known as The Seal of Prophets, Muslims believe that he was only a man chosen by Allah, as a messenger and teacher of living for God. Before faced with a mission from God, Muhammad saw his society collapse and social orderRead MoreMalcolm X Draft 21700 Words   |  7 Pagesachieved different levels equality through its many prominent activists. Prior to the movement, millions of Black Americans faced brutal abuse and segregation with little to no government action taking place against such wrongdoings. The movement included passionate advocates for black equality such as Rosa Parks, Dr. Martin Luther King Jr. and Malcolm X. These civil and human rights activists inspired millions of Americans to join in the cause for justice and equality for all through their many

Accounting Project - 1620 Words

FINAL PORTFOLIO PROJECT Portfolio Project ------------------------------------------------- Intel Inc. ------------------------------------------------- Refer to the Intel Inc. 2012 financial statements and the accompanying notes to answer the ------------------------------------------------- following questions. The 2012 financial statements of Intel can be accessed at: ------------------------------------------------- http://www.sec.gov/Archives/edgar/data/50863/000119312513065416/d424446d10k.htm Module 1 1) What are the maturities on Intel’s Long-term debt? 2016 1,500 2017 3,000 2018 amp; thereafter 10,275 2) What are Intel’s projected obligations on Long-Term Debt and Payments due by period? Total†¦show more content†¦Available for Sale, Trading Assets, and Other Long-term Assets. 5) How does Intel determine fair value? â€Å"When determining fair value, we consider the principal or most advantageous market in which we would transact, and we consider assumptions, such as an obligor’s credit risk, that market participants would use when pricing the asset or liability. For further information, see â€Å"Fair Value† in â€Å"Note 2: Accounting Policies† in Part II, Item 8 of this Form 10-K.† 6) How does Intel use derivative financial instruments? Intel uses those instruments to manage, currency exchange rate and interest rate risk as well as equity market risk and commodity price risk. The derivative financial instruments are recorded at fair value and are included in other current assets, other long-term assets, other accrued liabilities, or other long-term liabilities. Module 3 1) What amounts relative to income taxes does Intel report in its: a. 2012 income statement? Provision for taxes = 3,868 b. 29 Dec 2012 balance sheet? Long-term deferred tax liabilities = 3,412 | | c. 2012 statement of cash flows? Income taxes payable and receivable = 229 millions Income taxes, net of refunds = 3,930 2) Intel’s provision for income taxes in 2011 and 2012 was computed at what effective tax rates? 2011 27.2% 2012 26% 3) How much of Intel’s 2012 total provision for income taxes was current tax expense, and how much was deferred tax expense? CurrentShow MoreRelatedIs Project Accounting Really That Important?1217 Words   |  5 PagesIs Project Accounting really that Important? Project accounting is a practice that is used by businesses and organizations of all sizes. During the process of completing this system, leaders use the information gathered to create, plan, manage and control projects that are being completed by the organization. The goal of project accounting is to track the progress of these projects through financial reports. This information is then used to determine if the project is on-track, staying within budgetRead MoreCost Accounting Project8023 Words   |  33 Pagestypically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.] compaq [Type the company name] [Pick the date] Contents Concept of Cost Accounting†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦03 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..03 Traditional costing v/s activity based costing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..04 Need for an Activity Based Costing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦06 Stages in Activity Based Costing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreEssay about Accounting Software Installation Project702 Words   |  3 PagesThe Accounting Software Installation Project (from Larson, E.E., and Gray, C.F., 2011 Project Management – the managerial process, fifth edition p441) Sitting in her office, Karin Chung is reviewing the past four months of the large corporate accounting software installation project she has been managing. 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Identify them. a.Read MoreAccounting 201 Final Project Paper5343 Words   |  22 PagesFinancial Accounting Project 17th May 2012 American University Of Kuwait Omar S. Al yousif 13109 Contents Page. Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.Pg.3 Purpose and Research Method†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Pg.4 All Year Ratios of three companies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Pg.5 Coca Cola Ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...Pg.8 Dr.Pepper Snapple Ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..Pg.8 Pepsi Ratios†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦

Taxation Policy Contexts Practice Rutledge â€Myassignmenthelp.Com

Question: Discuss About The Taxation Policy Contexts Practice Rutledge? Answer: Introducation The present issue is concerned with the determination of the taxability of the income that is received by Fashionista Pty Ltd for the promise made to an Australian clothing manufacturer for not trading in the territory of South Australia. According to the taxation ruling of TR 94/D33, it determines the consequences of the capital gains tax consequences relating to the considerations of the sum received for the purpose of granting restrictive covenants and trade ties (Barkoczy 2016). The Taxation rulings of TR 94/D33 address restrictive covenants to the contracts or agreements that is formed exclusively based on the trade ties amid the two parties with the agreement that is entered into by the business entity by agreeing not to trade in the geographical region for a period of time. The taxation ruling considers the former subsection 160M (7) is applicable to the present context of Fashionista Pty Ltd since the company agreed not to compete in the selected territory for a period of four years (Braithwaite, 2017). The amount that has been received by Fashionista Pty Ltd can be regarded as the restrictive covenant payments since the company abided by the trade promise of not entering the specified geographical area for trade. In the present context of Fashionista Pty Ltd it can be stated that the new subsection of 160M (6) is applicable for any transaction where the amount of money that is received is related to the contract for entering into the restrictive covenant along with the exclusive trade ties and the agreement of not to trade (Cao et al. 2015). The commissioner of taxation considers the purpose and the effect of the subsection that extends to identify the considerations as the benefit of mutual promises that is flowing towards the parties in the agreemen t. Paragraph 17 of the ruling defines the view where the considerations that is received within the Subsection 160M (7) it is not restricted to the money or property. Instead the considerations extend to the assessable mutual promise that is flowing to the parties. As held in the case of Esso Petroleum Co.Ltd v.Harper's Garage(Stourport)Ltd[1968] restrictive covenants under the general law represents to be regarded as the restraint of trade (Saad 2014). The judgement defines that the restraint of trade is applicable where an individual has contracted to surrender the freedom which could have otherwise been available. In the present scenario of Fashionista Pty Ltd it can be stated that the company agreed not to trade in south Australia represents a restraint of trade as giving up the freedom of trading in that the geographical boundary which could have been otherwise available for trade. As held in the case of Bacchus Marsh Concentrated MilkCo Ltd (in Liq) v Joseph Nathan Co Ltd[1919] a restraint of trade can be considered as the valid under the common law which is not held by an unreasonable restraint by the courts requires that the covenantee is under the obligations of protecting the interest (Lang 2014). Such interest is generally characterised as the interest in the property or the goodwill of the business. Additionally, from the current case of Fashionista Pty Ltd it can be stated that the business ties such as agreement of not trading in the particular territory is a restraint of trade that is valid under the common law. The amount that is received by Fashionista Pty Ltd could be considered for the capital gains tax purpose for the considerations of $440,000 received by the Australian company for grating the restrictive covenants and trade ties. Computation of Taxable Income Particulars Amount ($) Amount ($) Assessable Income Gross Receipts $ 4,40,000.00 Less: GST $ 40,000.00 Net Receipts $ 4,00,000.00 Total Assessable Income $ 4,00,000.00 Less: Company Tax 27.5% $ 1,10,000.00 Total Tax Payable $ 1,50,000.00 Net Income $ 2,90,000.00 As defined under the section 7 of the Fringe Benefit Tax Assessment Act 1997, it sets out the conditions in which the users of the car will be considered for taxation under the taxable fringe benefit. The act lay down the two alternative method of valuing the benefit. As evident from the present case study of Fashionista Pty Ltd it can be stated that car provided to Jane Jackson constitute fringe benefit where an employers car is used by the employee or the associate for the private purpose or that is available for the purpose of private use. As held in the case of Lunney and Hayley v FC of T (1958)it is affirmed that the position of travel between an individual home and the place of work or business is considered as the ordinary private travel (Miller and Oats 2016). Fringe Benefit Liability is applicable to the all the private use along with the private home to work travel. As evident from the current scenario that private use under the sub section 136 (1) use of car made by the employee or the associate which is not in the course of gaining and producing the taxable income of the employee would be regarded for the private use of the car. Consequently, the car that was used by the Jane Jackson for travel from work to home would constitute private use, was not related in the process of gaining or producing the assessable income, and was not related for carrying on the business purpose. In consistent with the present scenario it is understood that car expenses incurred on the employees can be considered as the Fringe Benefit Tax, which can be considered for allowable deductions. However, Jane Jackson would not be able to claim allowable deductions since the travel from work to home would be considered as the private expense and they do not constitute allowable deductions since it was not gained for producing the assessable income. Additionally, it is also found that Fashionista Pty Ltd had also reimbursed Jane $40,000 for the school fees and also paid the latest contribution that was due on her part for the outstanding HELP loan which can be considered as the payment to fringe benefit and the company can claim an allowable deduction for that expense. As defined under the Taxation ruling of IT 2631 owners of the rental premises especially in the districts of central business of the major capital cities of Australia, frequently offer incentives to induce businesses to enter in the lease of the premises (Davison, Monotti and Wiseman 2015). The Taxation Ruling of IT 2631 takes into the considerations both the cash and non-cash lease incentives. In the present case of Fashionista Pty Ltd, it is found that the company moved from one premises to another premise and the sum received would be considered as the income. As held in the case of F.C of T v. Myer Emporium Ltd the federal court defined that the a receipt would be considered as the income given that such income originates from the isolated business operations or commercial transactions that is entered into in the ordinary course of carrying on of a business. The judgement contained that the receipts would be considered as income so long the taxpayer entered in the transition intending to generate profit or gain from the transaction (Evans, Minas and Lim 2015). As evident from the decision where it is found that the taxpayer operates from the leased premises and the move of one premises to the another premises with the leasing of the premises occupied would be considered as the act of the taxpayers under the course of the business activity that results in taxpayers assessable income. Additionally, the judgement of the federal court in the case of F.C of T v. Cooling 1990, where a taxpayer of the business is provided with the case incentives to enter in the lease of the business premises the incentive would be treated as income for the taxpayer (Woellner et al. 2016). In view of the current situation of the Fashionista Pty Ltd it can be defined that the taxpayer was provided with the cash incentive of entering in the lease of the new business premises and the cash payment received represents incentive in the nature of income and would be considered for assessable. In respect of the Fashionista Pty Ltd the transaction that is entered into by the firm should be treated as the commercial transaction. Furthermore, it formed the part of the business activity of Fashionista Pty Ltd a not an insignificant part of it was the obtaining of the commercial profit by way of the incentive payment. Accordingly, it can be considered as the payment will be viewed as income under t he ordinary concepts and will be considered for assessment. In the later stages it is found that the Fashionista Pty Ltd has to incur the expense on repairing the property. As stated under the Taxation Ruling of 97 /23, it provides the situations in which the person incurs an expense for repairs where allowable deductions can be claimed (Schreiber 2013). Additionally Section 8-1 of the ITAA 1997 provides the provision that is related to gaining permission of taking into the considerations the deduction as the allowable deductions (Robin 2017). As defined under Section 8-1 (2) of the ITAA 1997 a person is not allowed to claim deductions for loss or outgoings having the extent of the loss or outgoing is not capital in nature. Payments that is made by will not be allowed as deductions since the repairs that it is required to be made should be considered as the initial repairs. Taking into the considerations the Taxation rulings of 97/23 an individual would not be allowed to claim allowable deductions that has the nature of the capital works. As held in the case of Hallstroms Pty Ltd v. FC of T(1946) repairs having the nature of capital would not be considered for deductions (Blakelock and King 2017). As evident in the present case of Fashionista it can be bought forward that the initial repairs that is carried out by the company in the new lease premises are not treated as expense and they should be treated as capital work expenditure with no allowable deductions. The Taxation ruling of TR 95/25 is concerned with the deductibility of the interest in the form of outgoings that comprises interest under Section 8-1 of the ITAA 1997 by satisfying the words of the section which represents that loss or outgoings forms the part of the appropriate apportionment (Vann 2016). The general principles govern the deductibility of the interest under section 8-1 of the ITAA 1997 is that interest expense incurred by the taxpayer for the purpose of gaining and producing assessable income of the taxpayer with loss and expenses are not having the nature of capital, private or domestic in nature under the first limb (Kristoffersson 2014). Another purpose that governs the deductibility of the interest is that it is necessarily incurred by the taxpayer for executing business activities with the objective of producing taxable income of the taxpayer and not having the nature of capital or private under the second limb (Barkoczy et al. 2016). As evident from the current situation of Fashionista Pty Ltd states that the interest expense has been incurred for the purpose of carrying on of a business with the objective of producing taxable income. The present case study clearly identifies that whether or not the expenses or outgoings that is incurred by the taxpayer satisfactorily meets the criteria of the section 8-1 being reliant on the facts and matter relating to the outgoings that is incurred by the taxpayer in the question. As defined under the section 8-1 of the ITAA 1997 the interest should possess sufficient amount of association with the functions and activities of the taxpayer that is more directly gained or produced by the taxpayer for the purpose of assessable income and not possessing the nature of the capital, private or domestic in nature (Grange et al. 2014). Additionally, section 8-1 of the ITAA 1997 identifies that character of the interest for the funds borrowed should be generally decided by the reference to the circumstances of the borrowed money is used by the borrower (Tran-Nam and Walpole 2016). Nevertheless, regards should be paid in all the circumstances surrounding the character of the taxpayers undertaking or business together with the objective purpose of the borrowing having the nature of the transaction. A tracing of the borrowed money by the Fashionista Pty Ltd establishes that borrowed money was for the purpose of the income producing activities that reflects the connection b etween the interest and the income generating activities (Graetz and Schenk 2013). As evident from the case study, it establishes that fact that the sum of $40,000 that is borrowed by the Fashionista Pty Ltd as the interest on loan that is made by the foreign bank was for increasing the manufacturing capacity of the company. As held in the case of FC of T v. Roberts the judgement of the court stated that interest on the borrowing to fund the repayments of moneys that was originally advanced by the partner and put into use as the partnership capital will be considered for deductions under section 51 (1) (Snape and Souza 2016). It will be considered for deductions up to the extent that the partnership capital was employed in the business for the purpose of producing or gaining taxable income. As held in the case of Herald and Weekly Times Ltd v. FC of T(1932) at the time of determining the interest on capital to be considered as deductible appropriate regards should be given in respect of the commercial context for which the companies borrowed the relevant funds (James 2016). On applying the reasons full federal court in Smith v FC of T to companies will represents that interest on borrowing by the company might be considered for deductions where the borrowings of the funds would be considered as the repayment of the share capital to the shareholder. Interest on borrowing would be considered for deductions if it satisfies to meet the expenses of the business in gaining and deriving the assessable income of the company (Kiprotich 2016). As evident from the current case study, it can be stated that interest on borrowings can be considered for deductions under section 8-1 of the ITAA 1997 for the purpose of gaining business income. On the other hand, it is found that Fashionista Pty Ltd occurred a bad debt after a failed attempt by the company to recover the amount. As defined under the paragraph 34-39 of the Taxation Rulings of TR 92/18 bad debt must be written off in the year in which the income is earned prior to making the bad debt allowable as deductions under Section 63 (Pope, Rupert and Anderson 2016). Any form of business losses or outgoings having the nature of the revenue would be considered as the deductions that is allowable under Section 51 (1) of the ITAA 1997 when incurred. In the present case study of Fashionista Pty Ltd the company can claim allowable deductions on the assumption that the bad debt was incurred in the income year. Furthermore, the losses or outgoings suffered by the Fashionista Pty Ltd comprised of the revenue in nature and would be considered as the allowable deductions (Morgan, Mortimer and Pinto 2013). As evident from the present case of Fashionista Pty Ltd it is found that the company has acquired factory for $605,000. However, prior to the use of the factory Fashionista has to incur expenses on initial repairs the roof of the factory which costed the company $66,000. As held in the case of the Law Shipping Co Ltd v IRC (1923) initial repairs are not considered as the allowable deductions (Fleurbaey and Maniquet 2017). The reason for not considering the repairs as the allowable deductions is because the taxpayer might have received deductions in the purchase price of the asset and so appropriate to consider the expenses as the part of the acquisition cost (Krever 2013). Initial repairs are not considered for allowable deductions even where the taxpayer is not aware of the defect at the time of purchasing the property (Pomp and Rodriguez 2015). In the present case study, it is observed that repairs that is carried out by the taxpayer was before the purchase of the factory and hence would not be allowed as deductions. Arguably, an assertion can be considered in the present context that the initial repairs that is performed on the purchase of new factory would be considered as the expense and such expense are viewed as the capital work expenditure. As defined under section 8-1(2)of the ITAA 1997 a person is not allowed to claim allowable deductions for loss or outgoings to the extent that the loss or outgoing is having the nature of the capital or capital nature (Preez 2016). As held in the case of FC of T Western Suburbs Cinemas Ltd (1952) the full federal court passed a noteworthy judgement (Coleman and Sadiq 2013). The judgement stated that that any form of expenses that is incurred by the taxpayer in association with the asset having the outcome of functional improvements in the quality of the asset then the expenses would be considered under improvement and not repairs. As the result of this, such expenses would be considered as capital nature where the deductions would not be allowed as deductions (Kenny 2013). Presently in the case of Fashionista Pty Ltd, the expenses of $66,000 incurred on initial repairs of roof of the factory would be considered under improvements and not repairs. Consequently, the expenses would be regarded as capital nature of expense and deductions cannot be claimed by Fashionista Pty Ltd. Reference List: Barkoczy, S., 2016. Foundations of Taxation Law 2016.OUP Catalogue. Barkoczy, S., Nethercott, L., Devos, K. and Richardson, G., 2016.Foundations Student Tax Pack 3 2016. Oxford University Press Australia New Zealand. Blakelock, S. and King, P., 2017. Taxation law: The advance of ATO data matching.Proctor, The,37(6), p.18. Braithwaite, V. ed., 2017.Taxing democracy: Understanding tax avoidance and evasion. Routledge. Cao, L., Hosking, A., Kouparitsas, M., Mullaly, D., Rimmer, X., Shi, Q., Stark, W. and Wende, S., 2015. Understanding the economy-wide efficiency and incidence of major Australian taxes.Treasury WP,1. Coleman, C. and Sadiq, K. (n.d.).2013 Principles of taxation law. Davison, M., Monotti, A. and Wiseman, L., 2015.Australian intellectual property law. Cambridge University Press. Du Preez, H., 2016.A construction of the fundamental principles of taxation(Doctoral dissertation, University of Pretoria) Evans, C., Minas, J. and Lim, Y., 2015. Taxing personal capital gains in Australia: an alternative way forward. Fleurbaey, M. and Maniquet, F., 2017.Optimal income taxation theory and principles of fairness(No. UCL-Universit Catholique de Louvain). Graetz, M. and Schenk, D. (n.d.).2013 Federal income taxation. Grange, J., Jover-Ledesma, G. and Maydew, G. (n.d.).2014 principles of business taxation. James, K., 2016. The Australian Taxation Office perspective on work-related travel expense deductions for academics.International Journal of Critical Accounting,8(5-6), pp.345-362. Kenny, P. (2013).Australian tax 2013. Chatswood, N.S.W.: LexisNexis Butterworths. Kiprotich, B.A., 2016. Principles of Taxation.governance. Krever, R. (2013).Australian taxation law cases 2013. Pyrmont, N.S.W.: Thomson Reuters. Kristoffersson, E. (n.d.).2014 Tax secrecy and tax transparency. Lang, M., 2014.Introduction to the law of double taxation conventions. Linde Verlag GmbH. Miller, A. and Oats, L., 2016.Principles of international taxation. Bloomsbury Publishing. Morgan, A., Mortimer, C. and Pinto, D. (2013).A practical introduction to Australian taxation law. North Ryde [N.S.W.]: CCH Australia. Pomp, R.D. and Rodriguez, J., 2015. PRINCIPLES AND METHODS OF MULTI-JURISDICCIONAL STATE TAXATION.QUAESTIO IURIS,8(2), pp.1125-1206. Pope, T.R., Rupert, T.J. and Anderson, K.E., 2016.Pearson's Federal Taxation 2017 Comprehensive. Pearson. ROBIN, H., 2017.AUSTRALIAN TAXATION LAW 2017. OXFORD University Press. Saad, N., 2014. Tax knowledge, tax complexity and tax compliance: Taxpayers view.Procedia-Social and Behavioral Sciences,109, pp.1069-1075. Schreiber, U. (2013).International company taxation. Berlin: Springer. Snape, J. and De Souza, J., 2016.Environmental taxation law: policy, contexts and practice. Routledge. Tran-Nam, B. and Walpole, M., 2016. Tax disputes, litigation costs and access to tax justice.eJournal of Tax Research,14(2), p.319. Vann, R.J., 2016. Hybrid Entities in Australia: Resource Capital Fund III LP Case. Woellner, R.H., Barkoczy, S., Murphy, S., Evans, C. and Pinto, D., 2016.Australian Taxation Law Select: Legislation and Commentary 2016. Oxford University Press

Strategic Information Security-Free-Samples-Myassignmenthelp.com

Question: Select one Organisation of your Choice. Investigate and report on the Current State of this Organisation. Answer: Introduction: E serve global is a revolutionary digital financial transaction company operating in Australia. It enables the telecommunication and financial service providers for creating smooth transactions intended for their customers. A wide range of transactions services are offered by the organization such as commerce, digital wallets, business analytics, rapid service connection, recharge and remittance. Solution and types of services are provided to the client that are example of expertise and innovation (eservglobal.com 2017). Solutions provided are rapidly deployed and developed that will help the customers to adapt to the changing market conditions. In all the areas of business, E serve global has been acting with integrity and they are committed to be a sustainable and respectable global company providing solutions to the world that are technologically advanced. In order to foster a development of positive relationships with the client, organization endeavors to have openness and transp arency at all level of interactions. Organization has the belief of getting involves in the sustainable development and minimizing the impact of operations on the environment. E serve global is committed to meet all the requirements of statutory, regulatory and customary regulatory environment in all the areas of operations and the market that they are serving. Irrespective of the operations of business that is from vendors, agents, consultants and business partners, organization does not tolerate any sort of corruption or act of bribery. Discovery of any sort of corruption-involved activities in organization would be decisively terminated (Ab Rahman et al. 2015). Discussion: Management of information security- Information security is something that needs to be taken care of by the proper application of technology and money. Improvement of information security is considered as critical part of success. Critical factor for the appropriate implementation of information security is people working in organization. The ethical commitment of E serve global is based on the values such as positive relationships, loyal and transparency, confidentiality, respect of environment, respect for health, security, and prevention of conflict of interests. Concerning all the areas of business, managers of business should manage the business activities along with the information security. E serve global is making rapid progress resulting from open-minded production development and production expansion along with efficient utilization of innovations. Prevailing atmosphere encourages cooperation. In order for organization to bear on information security area for facilitating the development of innovative solutions, positive innovations should also be brought. One of the best things regarded in the practices of information security is the adoption of international standards that offers improvement. Benefits attributable from the adoption of such practices involve improved handing of problems that is associated with the wireless technology, internet and portable devices. Moreover, this would also help in better managing the security among sub-contractors, business providers and other service providers. Regardless of cultural regulations of organization, such practice provides a common language for information security (Baskerville et al. 2014). Information security policy is the policy outlining the guidelines of organization for directing the behaviors relating to their information security. It is a detailed statement of what the organization must do to comply with the rules governing policies. The security requirement of E serve global has not been assessed adequately by the management resulting from the lack of understanding of the issue concerning information security (Harun and Hashim 2017). From the analysis of the information security management of E serve global, it was ascertained that that existing culture of organization have been ignoring the policies of securing the information assets and least focused on managing the information security. It might be due to the lack of knowledge on art of employees and unawareness of refreshing policies. There are risks related to the information process resulting from lack of updating and reviewing on part of management of organization. Therefore, it is required on part of organization to have significant changes that will be assisted by reviewing and amendment of existing policies. It is required by organization to uniformly enforce the emended policies concerning information security (Safa et al. 201). Types of ethics and laws those are vital for information security management of organization: Environmental protection laws: E serve intends to provide technologically advanced telecommunication solutions to the world and is regarded as the sustainable global company. Anti-corruption laws: Any act of corruption or bribery is not tolerated by the organization and organization intends to decisively terminate every such activities. Concerning the data protection, there is a privacy team for legal guide. Information security policy of E serves global enterprise: Information security management is the process by which E serve global secure and protects the information resources that maintain and process the information that is crucial for their operations. Risks to the information system is managed, measures and controlled by the organization by ensuring the availability, integrity, accountability and confidentially for system actions. The objective of the management of information security of E serve global is to protect the information sources from damage and unauthorized access. Organization will be able to achieve data integrity, data confidentiality and availability of information resource by way of securing the information resources (Layton 2016). The business objectives of organization are supported by E serve information resources that involve facilities, hardware, software, infrastructure and many other resources. The reality represented by organization is correctly reflected by the data used by organization in their information system. The shared information confidentiality needs to be ensured by the information technology resources and applicable users of E serve. Information security policy is appliance to all the users of information assets such as employees, agencies, third party service providers or any contractors along with the clients of business. The information resources that are involved in the policy are stand-alone or network that is shared or individual (Crossler et al. 2013). Furthermore, it also relates to personal digital assistants, wireless devices, and workstations, networking devices, software and peripherals. Some of the supporting policies concerning information resources are guidelines for risk assessments and risk mitigations, policy for controlling documents and records, policy seeking responsibility for management, network security policy, operating system access control and policy for managing the facilities concerning information processing. Each employees of e serve global does not disclose any information to third parties or to any other people who are not entitled to receive. Employees of organization are committed not to use any privileged information for their own purpose or in connection with any other purpose. A non-disclosure agreement was established by the organization with its sub-contractor and partners. Each person who are involved with e serve global are requited to sign individual deed of confidence. All the regulations and applicable laws that are applicable in the country complies with the organization. It is applicable in the where the organizations are involved in doing business and between the international laws within the country. Such laws are include without any shortcomings: Environmental regulations Universally declaring human rights International labor organization The interest of each party is respected by the organization and contract terms is fairly negotiated and transparent. Furthermore, these entire contracts also adhere to the principles that are equivalent in the code of ethics. Governance and strategic planning for security: Achieving the strategic goals of security helps organization in bringing optimum level of investments and risk posture that is acceptable at the lowest costs. Management and board of organization should have the understanding of criticality of information security. Investment made by organization in information security should be reviewed for making it align with risk profile and strategy of organization. The information security program of organization should have production of reports on regular basis from the management. The management and boards should endorse implementation and development of comprehensive information security programs. Information security governance in organization would lead to the generation of several outcomes. The governance concerning to information security and its criticality and complexity requires the concerns to be elevated to the highest level of organization (Tuna et al. 2017). E serve global to secure their operations of business to clients requir es having an effective governance strategy concerning information security. Information security is regarded as the challenge posed to the governance of organization and the emerging threats associated with it needs to be assessed by the involvement of executives of organization. Improved security of information is of utmost important to organizations with dramatic rise in information crimes such as cyber-attacks and phishing. There needs to be a balance between the applied technology and sound management concerning information security. Organization is also exposed to losing some of their critical information relating to operations, financials and accounting along with the loss of equipments, facilities and people. This has made the governance relating to information security critical facets of the total governance of organization. Governance and strategic planning for security: The environment in which the organization operates is ever changing and employment of governance operating model will help in addressing need and enhancing the ability of management to implement the governance policy. Model would assist the management and boards in fulfilling their own business objectives. This will assist them in organization the structure of governance and the implementation of mechanisms. There can be faulty structure of governance due to the lack of proper governance model and existence of gaps in the governance mechanisms. It is required by organization to overcome the inadequacies pertaining to the governance and strategic planning of organization. Need of governance operating model is due to huge number of related procedures and complexities in governance (Cassidy 2016). Governance operating model of organization will be able to address the following facts: The model helps in proved the management and boards with the information they requires to affect the governance concerning the financial and operational risks management and the process of reporting. It will enable the organization to conduct their activities by complying with the regulations and thereby serving the strategic ends. It helps in the creation of feedback loop leading to sustainable governance by enabling the management to respond and identify the operational, new business, regulatory and competitive needs. Adoption of such model will also help in bridging the gap between operational realities and governance framework. This is done by bringing the governance framework of organization to the level of responsibilities, roles, reporting lines and communications. The governance-operating model may solve the common problem of management by memo of the organization because articulating the issues and policies concerning governance by management is quite simple. Such governance framework would enable the organization to assess and execute their governance programs. The operating model involves the governance infrastructure and this involves gathering of the information to the stakeholders and management. Employment of such model will help in translating the polices and framework of governance into job responsibilities, policies, procedures and practices within the infrastructure of corporate governance. Operating model that should be employed by organization have major components such as oversight responsibilities, talent and culture, structure and infrastructure. Various benefits are attributable from the incorporation of corporate governance operating model (Ahmad et al. 2014). Organization has improved clarity, improved coordination, greater visibility and increased effectiveness within the organization. Governance in the information security planning comes with controlling in few areas such as value delivery, alignment, management of resource, management of risks and management of performance. A larger view is taken by organization concerning information and has an enlightened approach and there must be adequate protection of such information irrespective of how the information is processed, handled, transported and stored by E serve global. It is essential for organization to address the security of information at the total enterprise level. Governance challenge is involved in managing the information security and this comprise of reporting, sufficient risk management and accountability (Peppard and Ward 2016). The executive management and board of governance of organization calls for organization to review the return and scale of current and future investments in the information resources for their optimization. There should be creation of new opportunities whilst reduction of costs associated with the potential change in technologies that has the potential of dramatically changing the practices of business (Nunan et al. 2014). Some of the associated implication that should be considered by E Serve global are as follows: Increasing reliability of organization on the system and informations and communication that help in delivering the information. Reviewing the value of enterprise and the impact on reputation arising from the failures of information security. Concerning the importance of security, if there is failure on part of management of organization to set it at the top. One of the intrinsic parts of the governance efforts of enterprise is the information security and this is regarded as an attempt that should be taken by the board along with aligning the information security governance focus. Governance in the information security is a transparent and integral part of whole governance structure and that should be aligned with the governance framework of information technology. In order to govern other critical resources of organization, it is required by the management and board to make information security a fundamental part of the framework of governance. Safeguarding of information is done by several components involved in the governance that involve organizational structure, processes and leadership. Some of the outcomes associated with inclusion of information security as part of the governance structure is supporting organizational objectives by strategically aligning the business strategy with information security. The management of risks ass ociated with the information to bring it to an acceptable level is execution of appropriate measures for managing and mitigating the risks. It would lead to utilization of knowledge concerning information security and effective and efficient management of resources relating to information. Optimizing the investments in information security by value delivery that is in support of objectives of organization. Organization would be able to ensure the achievement of business objectives by the performance measures governance metrics such as reporting, monitoring and measuring of the information. The adverse impact of bringing the information to an acceptable level of risks concerning information security (Merkow and Breithaupt 2014). Corporate governance framework of information security (Source: Peltier 2013) Information assets are protected against the risks of operational discontinuity, unauthorized disclosures, misuse and risk of loss with the help of information security. It might happen that E serve global would face legal liability due to loss of information or their inaccuracy and management and governance of information security would help against the rising of this increasing potential. Governance concerning information security requires the commitment of senior management, promoting the security good practices, a culture that is security aware and compliance with the policy. Significant benefits are generated the organization arising from the governance of information security. Organization practicing information security governance can have increased share value of an organization. Risks related to information security at an acceptable level would be lowered by reduced uncertainty and increased predictability (Pearlson et al. 2016). Recommendations: The main factor of the productivity growth and competitiveness of organization is technology. For the management of information security, it is required by organization such as E serve global is to adopt the decision tool is the security metrics. It would help the organization to achieve the objectives of improving and monitoring the security level. Moreover, it will also help in contribution towards the improvement in the existing system of information security practices by their integration in the business processes. The creation of security metrics is the concern of organization that is done by collection and development of data and information (Gandhi et al. 2017). It can be achieved by measuring the security policy realization and carrying out the assessment of delivered security services. The implementation of security metric program concerning the efficient information security management is that it should be aligned to the organizational objectives, it should be associated with costs and measurable and focusing and emphasizing organizations current issues. The information assets of E serve global can be managed in better way by the application of standards concerning the code practices for information security management concerning the issues and giving recommendations for the same. It is essential for organization to be responsible for importance of managing the information assets that would be possible from the application of standards (Flores et al. 2014). Considering all the dimensions of information security, the standards of information security would deal by recommending the facts. Conclusion: From the above discussion and critical analysis of E serve Global enterprise, it can be said that the first and foremost function of the policies mentioned is that they are meant to prevent any situation that may arise due to leaking of any information assets and thereby properly managing the information security. It must be realized by the management of organization that planning decisions and information security funding involves many more things rather than just the employment of technical managers. There needs to be three separate group of decisions makers that is information technology managers, information security professionals and non-technical business managers. For the organization to be competent, it is required that there should be sufficient knowledge of security to the people involved in the organization. From the analysis of the information security management of E serve global, it is ascertained that there is lack of understanding on part of management relating to sec urity issues. There has also been increasing number of unintentional and intentional acts due to lack of management interests and this has resulted in costly and significant disruption to the information system of organization. References: Ab Rahman, N.H. and Choo, K.K.R., 2015. A survey of information security incident handling in the cloud. Computers Security, 49, pp.45-69. Ahmad, A., Maynard, S.B. and Park, S., 2014. Information security strategies: towards an organizational multi-strategy perspective. Journal of Intelligent Manufacturing, 25(2), pp.357-370. Baskerville, R., Spagnoletti, P. and Kim, J., 2014. Incident-centered information security: Managing a strategic balance between prevention and response. Information Management, 51(1), pp.138-151. Cassidy, A., 2016. 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