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Tax

Of or relating to the fees charged by a government on a product, income, or activity; and also to the system by which they are successfully levied.

Industry: Accounting

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Tax

accounting equation

Accounting; Tax

Simply stated, assets are equal to liabilities plus owners' equity

level premium plan

Accounting; Tax

Premiums due on an insurance policy that remain level throughout the term, regardless of any dividends that may be paid

A business that provides a particular service to a company (that are outside of the country where the agency is located). Dependent agency constitutes a permanent establishment for the other company ...

accounting method

Accounting; Tax

Any number of approaches for calculating the income of an entity Usually applied to the general means of recognizing income and expenses, e g , cash or accrual But it can also apply to method of ...

leverage

Accounting; Tax

1 Financial leverage is the act of increasing the return on an investment by borrowing some of the funds at an interest rate less than your return on the project 2 Operating leverage has the same ...

agent

Accounting; Tax

A person or entity authorized to act on behalf of another party While a person can act on his own, a corporation can only act through its agents

accounting procedure

Accounting; Tax

Similar to accounting method, but applied to more routine issues For example, the method of computing depreciation, handling small capital expenditures