Consolidation Notes: A Comprehensive Guide to Step-by-Step Entries
Consolidation Notes
Step 2 BCVR Entries
Not sold | If Sold – Current Year | If Sold – Prior Year | ||||||
DR Asset | Inventory: | No entry here – BCVR | ||||||
CR BCVR | DR COGS | transferred to RE (Step 3) | ||||||
CR DTL | CR ITE | |||||||
CR Transf. from BCVR** | ||||||||
If Accumulated Deprec: DR Accum. Deprec CR Asset CR DTL CR BCVR | NCA: DR CA ofAsset CR ITE CR Transfer from BCVR** | No entry here – BCVR transferred to RE (Step 3) | ||||||
If Depreciable Asset – following yrs: | ||||||||
DR Deprec Exp (current yr) DR | ||||||||
Management: Planning, Organizing, Leading, and Controlling
Planning
Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives. Planning requires that managers be aware of environmental conditions facing their organization and forecast future conditions. It also requires that managers be good decision makers.
Planning is a process consisting of several steps. The process begins with environmental scanning which simply means that planners must be aware of the critical contingencies
Read MoreDeductible Transaction & Casualty Losses in US Taxation
Chapter 8: Transaction Losses
Deductible if Identifiable Event Occurs
Transaction losses not classified as sale or exchange (ordinary loss)-Dfor
| -Sale/Exchange | Business Use | Investment Use | Personal Use |
| Sale or Exchange? | YES | YES | YES |
| Type of Loss? | Any type | Any type | None |
| Dfor or Dfrom? | Dfor | Rent/Royalty-Dfor All others-Dfrom | None |
| Expropriated, Seized, or Confiscated | |||
| Sale or Exchange? | YES | YES | YES |
| Type of Loss? | Any type | Any type | None |
| Dfor or Dfrom? | Dfor | Rent/Royalty-Dfor All others-Dfrom | None |
| Abandoned | |||
| Sale or Exchange? | NO | NO | NO |
| Type of Loss? |
Guide to Taxes in Spain: National, Regional, and Local
Taxes in Spain
Spain’s tax system comprises national, regional, and local taxes. This guide provides an overview of each category.
A. National Taxes
Direct Taxes
Personal Income Tax (PIT)
PIT is an annual direct tax on individual income. The tax base includes employment income, income from assets and liabilities, income from economic activities, and capital gains or losses. It’s a personal tax, considering individual circumstances and offering deductions based on them. The tax rate is progressive.
Wealth
Read MoreStochastic Implications of the Hypothesis of Permanent Income-Life Cycle: Theory and Evidence
Stochastic Implications of the hypothesis of permanent income-life cycle: Theory and Evidence
Robert E. Hall
Center for Advanced Study in the Behavioral Sciences and the National Bureau of Economic Research
The optimization of the consumer is shown to imply that the marginal utility of consumption is developed according to a random motion with trend. To a reasonable approximation, consumption itself should be developed in the same way. In particular, no variable apart from current consumption
Microeconomics Study Guide: From Basic Principles to Market Dynamics
Economic Science
What is Economics?
Economics is a science that explains the actions of various actors, such as consumers and entrepreneurs, in response to incentives or signals. It studies the effects of these actions and how society can design incentives compatible with social welfare.
What is the Scientific Method?
The scientific method is a disciplined approach to achieving valid and reliable knowledge. It is a pattern that allows researchers to move from point A to point Z with confidence in obtaining
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