Accouting Theory and Tax Rules

1. After preparing the tax return, if the client comes and shows that the deduction for overseas trip made for business purpose he has taken and shows the family photographs of that trip. Then more inquiry should be done from him and on what basis he wants to treat the business trip as business expense (Tpbgovau, 2017). If no proof shown then the tax return must not be proceeded as the client is trying to manipulate the actual income. 2. Taking reasonable care means that the tax prepare must know what exactly the client’s business is. Tax rules changes with business to business. For example, shares may be an investment for one person and trade for another. It will be treated differently. Therefore, there should be enough knowledge about the client’s state of affairs to know the impact of taxation on it and can be explained to the taxpayer (Tpbgovau, 2017). 3. Section 4.10 of the Income Tax Assessment Act 1997 states about how much income tax is to be paid and it states that the tax is to be paid for each financial year of income earned on the basis of taxable income calculated for that tax year (Austliieduau, 2017). 4. Current tax table and the details about the fees and the charges can be found on the Australian Taxation Office’s website under the heading â€Å"Tax rates and Codes† (ATOgovau, 2017). 7. The five legislations or the compliance requirements which can affect the recording of the transaction in the as per Australia Tax laws are as follows: 8. General Journal is the journal used for recording the transactions which are not fitting the criteria of specific journals such as purchase, sales, cash, etc. A correcting entry is recorded in the books of accounts in two ways. One is to reverse the Previous journal entry made and to enter the correct entry. Second method is to make a Single entry which when combines with the original corrects the actual entry. General principle to reconcile balance outstanding is to check which balances are recorded in cash Book and in pass book. Next, is to check which balances are not reflected in the cash Book or the pass book and accordingly the same is to be added or subtracted from the Pass book or cash book respectively. Any event or transaction which decreases the balance of the bank is to be debited as the Payment is being made or any amount is decreasing the bank balance. Tpbgovau. (2017). Tpbgovau. Retrieved 12 March, 2017, from https://www.tpb.gov.au/explanatory-paper-tpb-012010-code-professional-conduct Austliieduau. (2017). Austliieduau. Retrieved 12 March, 2017, from https://www.austlii.edu.au/au/legis/cth/consol_act/itaa1997240/s4.10.html Atogovau. (2017). Atogovau. Retrieved 12 March, 2017, from https://www.ato.gov.au/About-ATO/About-us/In-detail/Tenders-and-procurement/Contracting-in-the-ATO/Record-keeping-standard-for-ATO-contractors/?page=1 Iedunotecom. (2015). IEduNotecom. Retrieved 12 March, 2017, from https://iedunote.com/types-of-accounting-journal  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Accounting-simplifiedcom. (2017). Accounting-simplifiedcom. Retrieved 12 March, 2017, from https://accounting-simplified.com/accounting-for-bad-debts.html Atogovau. (2017). Atogovau. Retrieved 12 March, 2017, from https://www.ato.gov.au/Rates/?sorttype=SortByTopic Tpbgovau.(2017).Tpbgovau.Retrieved12March,2017,fromhttps://www.tpb.gov.au/sites/g/files/net1481/f/code_of_professional_conduct_aeu_reasonable_care_to_ascertain_a_clients_state_of_affairs.pdf?v=1469170810

Construction Engineering Assignment Example | Topics and Well Written Essays - 1750 words - 1

Construction Engineering - Assignment Example Following are the steps involved in designing new hospitals in Canada(Martin). First and foremost step is designing the patient care areas which may either be for a single patient or for multiple patients. These areas are designed for proper HVAC conditions so that least energy is consumed to maintain required environmental parameters. These areas are usually provided with a window or wall that is directly exposed to harsh weather conditions. Therefore, proper supply and exhaust outlets are provided in order to provide isolation from air borne infections. Rooms being designed for patients with burns, aids or other diseases in which rate of infection is much higher, are provided with protective environment. In this case air pressure within the room is controlled by venture valve. After designing patient care rooms, waiting rooms and examination rooms are designed. These are designed to provide better sitting and waiting conditions to the patients. Usually square plaque diffusers are u sed in these areas in order to provide rapid mix supply of air within the room. Operating rooms within the hospitals are not only provided with good HVAC condition but also with good lightning strategies. Operating rooms are usually provided with laminar flow systems for the diffusion and mixing of air, where surgical areas are provided with air curtain systems. Laboratories in the hospitals are provided with square plaque diffusers. While designing state of the art hospitals in Canada, engineering firms are concerned in designing each part of the HVAC system in the integrated form so that it can be easily modified to updated system when needed. If an engineering firm wants to get gold certification for the design of a hospital then the design must satisfy given LEED parameters with rating of 60 to 79 units(Engineering). Sustainable sites Water efficiency Indoor environment quality Material resources Energy and atmosphere Innovative Design Question 2 Explain the different roles that an architect and an engineer fulfill on a design project where they have to collaborate. Consider that they are both assigned to the hospital project in question 1. What would be the relationship between the engineer and architect? Draw a diagram to illustrate. Architects and engineers collaborate while implementing engineering principles to the construction design and planning of a building. While designing hospitals, collaboration between architects and engineers is highly recommended. Both work side by side for proper placement and working of biomedical as well as other electrical systems. Architects are good at implementing design techniques to solve any problem whereas engineers are good at mathematical work. While designing a hospital, engineers are to decide the size of HVAC unit including compressors and boilers and architects are then to plan for the right space for the placements of instruments. Not only this, but engineers are also good at calculating the right amount of flow that should reach each room as required, they go for calculating the number of units of lights required in the operation theatre and proper positioning and distance of light from operation table. Engineers are also good at handling heavy machinery like CT-scans and MRI machines during installation. Whereas, architects are specialized in developing a hospital structure and map of the building. Figure 1: Engineer – Architect Relation Question 3 A consulting engineering firm that is