(855) 4-ESSAYS

Type a new keyword(s) and press Enter to search

Gross Income

            
             Economists income → change in net worth (ind.
             Accounting income → not until realized 1. exchange must receive assets that are capable of being objectively valued. (embezzlement and buried treasures count).
             Form of Receipt: Income equals the value of the service received. .
             Exchange of service: Income equal to the FMKV of the service they provide.
             Recovery of capital doctrine- no income subject to tax until the TP has recovered the capital invested.
             Collection of annuity contracts and installment payments received from sales of property must be allocated between recovery of capital and income. .
             Fiscal year option not available to partnerships, S corp., and personal service corporations. .
             Cash Receipts method- recognized in the year of actual or constructive receipt by the TP or agent, regardless of weather the income was earned that year. Recognition requires a cash equivalent (fair value). Accts payable does not count. .
             Accrual method included in income when earned, (1) all the events have occurred that fix the right to receive such income and (2) the amount to be received can be determined with reasonable accuracy. Title passes or services performed. .
             Income subject to a refund → refund (deduct) when actual claims accrue. .
             Regulations require the accrual method for determining purchases and sales when income is a producing factor. .
             TP can spread gains from installment sales of property over the collection period. (installment method).
             Contractors may either spread profits (% of completion method) or defer all profits until the year projects completed (complete contract method). .
             Hybred Method: (small business) inventory is an income producing factor. .
             - Accrual → sales and COGS, inventory.
             - Cash → other income and expenses.
             Exceptions applicable to cash basis TP (constructive receipt).
             - amount readily available to TP.
             - TP's actual receipt is not subject to substantial limitations or restrictions.


Essays Related to Gross Income

1. Economic Indicators of the Gross Domestic Product (GDP)

Question Gross Domestic Product is one of the most significant economic indicators in the economy. ... None of these are any more important than the economic indicator of Gross Domestic Product. ... Economic Indicators: Gross Domestic Product (GDP). ... The government sector collects taxes, spends revenue (i.e. providing services such as military, roads and bridges, healthcare, etc.) and redistributes income. ... Gross Domestic Product is clearly and vitally relevant in everyday life. ...

  • Word Count: 1136
  • Approx Pages: 5
  • Has Bibliography
  • Grade Level: Undergraduate

2. Product Development and Manufacturing

In addition to low tax liability and no personal income tax, Texas boasts of it legal climate being responsive to the needs of corporations. ... Review the company's overall gross margin. If the product is sold direct to the consumer you may apply the gross margin as calculated. ... The PepsiCo financial statements reveal that the gross margin for the company to be 53%. ... The gross margin is about the industry standard, so they are doing pretty good. ...

  • Word Count: 1408
  • Approx Pages: 6
  • Has Bibliography
  • Grade Level: High School

3. GPD

Gross Domestic Product (GDP) is the market value of final goods and services produced domestically within the country during a period. ... b) Gross private investment (which includes depreciation) - production or construction of capital goods that provide possible future service c) Government consumption and gross investment - expenditures on such items as office supplies, law enforcement, government facilities that are utilized d) Net exports - total exports minus total imports Gross National Product (GNP) is national income added with depreciation and indirect business taxes. National...

  • Word Count: 1233
  • Approx Pages: 5

4. Gross Domestic Product (GDP) and the Welfare of America

Gross Domestic Product is a measure of who has the strongest economies in the world. ... The expenditure approach, product approach and income approach are the three main ways that the BEA measures the GDP. ... The product approach is calculating the market value of all of the goods and services and the income approach totals all of the producers' incomes. ... That is another major indicator of economic health; the relationship between government income and spending. ...

  • Word Count: 1079
  • Approx Pages: 4
  • Has Bibliography
  • Grade Level: High School

5. Gross Domestic Product

GDP and Well-being Gross domestic product (GDP) is the total value of all goods and services produced in the economy during a specified period of time, such as a year or quarter. ... At present the measurement of an increasing Gross Domestic Product (GDP) is said to represent well-being. ... This critical functioning of the market has contributed to the belief that the more market activity there is, (Gross Product), the better off we are. ... The American Demographics Index of Well-Being is also a single number, but it incorporates data from five broad subject areas: income and employment o...

  • Word Count: 943
  • Approx Pages: 4
  • Has Bibliography

6. Example Investment Portfolio

I have no children or extraordinary expenses, so the need for current income isn't that important. I have a steady stream of income. ... Gross margin for the year is at 34.9%. ... HP has a gross profit margin of 45% for the year. ... Fixed Income For the fixed income portion of my portfolio I have decided to use mutual funds. ...

  • Word Count: 1711
  • Approx Pages: 7
  • Has Bibliography
  • Grade Level: High School

7. Roles Of Economy

The lifestyle that people have emphasize in their gross income that they receive from a business they either work or own. ... If we would like to measure our societies standard of living, we must look at our Gross Domestic Product, which is the complete measure of our nations output. ... A good that is in greater demand, do to income increases is known as a normal good. ... In reality, if the price of a good raises the income of the consumer will decrease. ... Most of the families" income would go towards food. ...

  • Word Count: 1459
  • Approx Pages: 6
  • Grade Level: High School

8. Economic Indicators

Gross State Product Gross state product (GSP) is the measure of output goods and services produced by labor and property located in Illinois. ... Personal income is the sum of net earnings by place of residence, rental income of persons, personal dividend income, personal interest income, and transfer payments. ... Per Capita Income Per capita income is the mean income computed for every man, woman, and child. ... GNP at market prices Gross national product (GNP) equals GDP at market prices plus net factor income from abroad. ... Income accruing to government admn. ...

  • Word Count: 4620
  • Approx Pages: 18
  • Grade Level: Undergraduate

9. The nature of the UK economy

The size of these sectors can either be measured by the percentage of Gross Domestic Product (GDP) they contribute, or by how many inputs they use, which can either be the amount of capital or the amount of labour employed. ... When their income is rising, they will switch their demand to the range of services provided by this sector, and away from manufacturing. ... The interconnection of these industries was such that Greenhalgh calculated that for every £1 spent on gross manufacturing output, £1.61 of employment income was created across all the sectors. In the tertiary sector...

  • Word Count: 1545
  • Approx Pages: 6
  • Grade Level: Undergraduate

Got a writing question? Ask our professional writer!
Submit My Question