Tax Law and Accounting - Assignment Example

Tax Law and Accounting under GAAP are facing wide controversy as to their functions to the society nowadays.... This paper will address the objectives of modern income tax statutes, comparing and contrasting the GAAP and tax accounting, and finally how to differentiate between tax avoidance and tax evasion.... This paper will address the objectives of modern income tax statutes, comparing and contrasting the GAAP and tax accounting, and finally how to differentiate between tax avoidance and tax evasion....

In 1939 Congress codified the Federal tax laws" ("Tax Law and Accounting," 2009). ... Moreover, there are additional standards which must be held to: "b) FASAB Technical Bulletins and, if specifically made applicableand clearedby the FASAB, AICPA Industry Audit and accounting Guides; c) Technical Releases of the Accounting and Auditing Policy Committee of the FASAB; and d) Implementation guides published byFASAB staff, as well as practices that arerecognized and prevalent infederal government" ("Generally Accepted Accounting Principles," 2009)....

It determines what is being taxed, or the activity that tolerates the burden of the tax.... An assessment of the tax base is of particular importance in certain municipal bond issues.... Regressive tax is a tax levied in such a way that as the amount subject to taxation increases the tax rate decreases.... In other words, a regressive tax asserts a greater burden on the poor than on the wealthy people — there is an inverse relationship The Social Security tax is relative until the taxpayer reaches the maximum level of income....

This paper tells that forensic accounting is not a new field.... Curtin has used standard accountants methodology as set by the Statement of Forensic accounting Standards - APS 11.... lthough evidence of assumed expert opinions is not admissible in a court of law, in this case, the Court made an exception to accountant Curtins opinions based on the logic that if a person's financial statements were to be produced in court then an expert in the area must be produced to analyze it....

In addition, as Fitch (2007) states, a tax accountant carries out research in areas of tax law and regulations to recommend changes in accounting practices to reduce tax liability.... My strategy through this career would be to become an entrepreneur and open own tax accounting practice.... In contrast, after gaining experience in the field I would like to build up my own tax accounting practice as stated above.... Especially, pursuing the career of tax accountant is an appreciable task as it ensures the overall development of the individual....

Research Paper, Finance and accounting ... anagerial accounting is referred to as management accounting and is defined as the internal business building role of finance and accounting professionals who designs, implement and manage internal systems that supports effective decisions and support, plan and control, the value creation operation of an organization.... American Institute of Certified Public Accountants (AICPA) has summarized the definition of accounting as the One Degree with 360 Degrees of Possibilities....

company hires an accountant to conduct bookkeeping and accounting transactions tasks.... He/she also creates, maintains, and coordinates the execution of accounting control and accounting procedures.... The obligation to uphold standards, laws, and principles of accounting is owed to creditors, stockholders, governments, and companies that hired an accountant.... Despite, the demands of the accountant responsibility, there are complaints brought against accounting firms or accountants....

The paper "Australia Accounting Tax - Mineral Resource Rent" is a great example of a finance and accounting essay.... The paper "Australia Accounting Tax - Mineral Resource Rent" is a great example of a finance and accounting essay.... The paper "Australia Accounting Tax - Mineral Resource Rent" is a great example of a finance and accounting essay.... his paper seeks to explore the above-raised question; the potential effects MRRT on the accounting policy choices of mining companies affected by the tax....