Sharon J Hall

Accountants have a variety of tasks that they carry out. In fact, there is a lot more to the job of an accountant than being busy during tax season! Accountants carry the primary responsibility for financial records, make sure the appropriate taxes are paid by their deadlines and oversee efficient use of funds and related tasks. They also work closely with clients in preparation, explanation and verification of any financial paperwork. Accountants may even help consumers to go over budgeting and to make plans for future investments. Since accountants are interested in figures, let’s look at their career by the numbers. Most accountants made between ,520 and ,960 a year in 2006. The lowest-paid accountants earned less than ,470, while the highest-paid earned ,050 a year, according to the Bureau of Labor Statistics.

However, in order to enter the field of accounting, interested parties must a post-secondary undertaking such as Centennial College’s three-year Business Accounting Program, which will get them on the right path to obtaining the skills and qualities of an accounting professional. Not only does the program give students an extremely strong base in accounting related topics, it also helps them to develop problem solving, communications, mathematics, analysis and other business skills.

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This is achieved through a variety of courses such as: Financial Accounting (an overview of the financial reporting process, concentrating on the recording process and the production of financial statements), Strategies for Business Success (emphasis is on the development of effective learning and study habits, research techniques and self-management strategies), Small Business Software (enhances skills in the analysis and recording of financial accounting transactions), Management Accounting (in-depth knowledge of fundamental cost accounting techniques for use in a manufacturing and service environment), and many others.

These courses are conducted in lab environments that are fully equipped with an integrated network of computer systems so any computer courses are hands-on, allowing students to develop proficiencies with industry standard accounting software such as Simply Accounting and ACCPAC for Windows and SAP.

Students of the Accounting Programs may be eligible for substantial transfer credits if you they to pursue the Certified General Accountants (CGA) professional qualification. Lastly, qualified graduates may be eligible to participate in an articulated program with selected universities, institutes and professional associations. These partnerships allow graduates to apply academic credit towards further study. The business accounting program’s partners are Athabasca University, British Columbia Institute of Technology, Certified General Accountants Association of Ontario and Hawaii Pacific University.

To apply, students must present at minimum an Ontario Secondary School Diploma (OSSD) or equivalent or be 19 years of age or older during the application process. They must also possess the compulsory English 12C or U, or skills assessment, or equivalent and Math 11C, M or U or 12C or U or skills assessment, or equivalent.

(Retired Dy. Gene. Manager- Circle Credit Officer, State Bank of India- Delhi LHO).

Taxes are not modern phenomenonor that of mediaeval period. A study of human civilisation and culture does shed light on the existence of taxes in some form or the other that evolved with the evolution of human civilisation in organised forms. In the context of India, the earliest picture of taxation and its evolution is depicted in the earliest Aryan writing – the Rig Veda. There are frequent references in Vedic texts to the king, his consecration and duties that he had to perform during war and peace in the literature of this period1. The main function of the king was to maintain peace and order in his dominion. He was also expected to take war like expeditions and lead his army into the battlefield against enemies2. The numerous references in the Vedic literature reasonably and emphatically tend to infer that Rig Vedic people had developed some sort of political organisation, “however, undeveloped it might be under the rule of the king (Rajan)”.3

For the maintenance of royalty i.e. in return for the services in war and peace, people’s obedience and their contribution to the royal exchequer were natural corollaries as well as necessities. It is observed from numerous references in Vedic literature that the state derived its revenue from people’s contribution, technically known as ‘Bali’. Of all the terms used in connection with the items of revenue to the state, it is ‘bali’ which is mentioned most in the Vedic texts. Its use is, however, not restricted exclusively to the fisc but also to “offerings to a god” and to tributes paid by hostile tribes to the king. A man is depicted in the Rigveda as presenting oblation (bali) to Agni4. Another hymn states, “Mighty Agni, who by his fatal weapons has baffled the devices of Asuras, has made the subjects of the king, Nahush, tributaries to him” 5. At another place, Indra is credited with the victory over Ajas, the Shigrus and the Yakshas. He is said to have realised tributes from the conquered people in the form of head of horses. ‘Bali, in its pure fiscal sense occurs in another hymn of Rigveda. “Indra might make his subjects (Visas) pay ‘bali’ to the king7. After his consecration ceremony, the king elect became the sole taker of taxes and lord of the people8.

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*55, Unesco Apts, C-203, Patparganj, Delhi-110092                            

The system of taxation appears to have registered a further evolution in the times of Atharvaveda. The tax (bali) seems to have become almost regular and compulsory in nature as bali is referred to very frequently in this literature. The king elect, at his royal consecration was addressed thus: “Unto thee let thy fellows come, calling (thee); Agni shall go along as speedy messenger, let the wives, the sons, be well willing; thou formidable shalt see arrive (pratipac) much tribute9. At one place Indra is exhorted to “portion thou this man (the king elect) in village, in horses, in kine”10. This suggests that the king by then had already had a regular share in the agricultural produce and cattle. However, it is not clear from the above as to what share the king was entitled to in agricultural produce and in the wealth of his subjects but there is no doubt about that the subjects were to regularly part with certain portion of their produce / wealth or income to the royal exchequer. In various other hymns of Atharvaveda, subjects are projected as bringer of tributes (bali) to king as all human beings are tribute bearers to god 11.

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The period of later Samhitas and Brahmanas witnessed further development in the fisc. The king has been frequently referred to “as devourer of the subjects” (balihrit). The metaphor, “balihrit” has been referred to in several texts of this period like Kathak Samhita, Taittiriya Upanishad, Aitareya Brahmana etc12 which simply denotes that “bali” in the form of taxes was no longer a voluntary contribution and instead it establishes the practice of regular payments by which the king and his retinue were fed. However, there is no denying the fact that the use of ‘balihrit’ (devourer of subjects) for the king was not always in good sense. It is possible that when ‘bali’ was in formative stage and was levied occasionally, people might not have felt the pinch of its incidence but when it started being used in regular form, it might have met with their displeasure and resentment. The use of metaphor, “balihrit” (devourer of subjects) for the king in the literature of this period, was nothing but a show of people’s anger and annoyance.

One more important feature that took place in the fisc of this period is that “Vaishyas” are shown as the sole payer of taxes. The Shatapatha Brahmana prescribes total immunity to Brahmanas from taxes. There, the king is said to be the lord of all and everything on earth was an object of food to him excepting Brahmanas on the plea that Lord Soma was their king. The king could censure all but not Brahmanas 13. The Aitareya Brahmana also depicts Vaishyas “as paying bali to another, to be eaten by another, to be oppressed at will”14.  As the Vaishyas alone is depicted paying taxes to the state, all other people even if they were engaged in productive activities, thus went untaxed. The incidence of taxation thus did not fall equitably on all during the later Vedic period.

 It is not clear if the people belonging to other Varnas also contributed towards state exchequer. In case people of other Varnas were spared from paying taxes in reality, the Vedic texts fail to extend any justification excepting an excuse based on religion.

The king elect is exhorted in Taittiriya Brahmana at the time of his royal consecration to perform the rites in the manner prescribed therein so that the subjects pay tributes (bali) to him. If the king performed Vighana rite (destroyer of obstacles) he would be relieved of all hostilities and his subjects would bring “bali” to him15. This further confirms the fact that levy of taxes by the state was at times to the chagrin of subjects.

Besides “bali” the Vedic texts also refers to other revenue terms like, ‘Shulka’, ‘Udaj’ and ‘Niraj’. In Atharvaveda, ‘Shulka’ denotes a certain portion of the property of the subjects as forming dues of the king16. As ‘bali’ continues to occur repeatedly in later Samhitas, Brahmanas and even in the texts of further later period, it seems that ‘shulka’ was introduced as a new item of revenue by the state to augment its exchequer. The other two words, ‘Udaj’ and ‘Niraj’ have been mentioned in the context of shares of war booty that were received by the king after a victory (Sangram jitwa). This finds reference in Maitrayani Samhita, Kathak Samhita and Kapisthaka Samhita 17.

The picture of society as depicted in Vedic texts suggests that Vedic people were no longer tribal people and had developed some sort of political organisation. This is amply borne by the fact that there are frequent references to king and him as the sole taker of taxes. The references made above are just few examples to put the view points. There are very many other such references in the literature of this period which show that taxes had tended to become regular in nature and state did not hesitate to use even coercive measures against those who were either reluctant to pay or had turned to be defaulters. As discussed above the state during the period of Atharvaveda appears to have amassed much wealth from the subjects as if they were regular “tribute bearers”. It had got a definite share in the land produce and wealth of the village. The impact of taxes on the life of people was so great that those, who were influential in the society and were wielding some authority in the governance, tried to escape from its incidence. The brahmanas were the first to claim such exemption from taxes more on the ground of belonging to highest Varna than being engaged in unproductive activities like imparting education. The texts largely show that it were mostly the people of Vaishya class who bore the brunt of taxes. Judging from the numerous and frequent references in Vedic texts there is no doubt that what once constituted voluntary contributions (bali) by the people in early texts like Rigveda became regular taxes later. The above inferences also show that state during its early period entirely depended on a single item of revenue viz: bali but later on this single tax system could not keep pace with the ever increasing expenditure of the state. It was perhaps because of this and also with a view to explore other avenues of resources that the state seems to have resorted to other means viz: “Shulka, ‘Udaja’ and ‘Niraja’. Having thus enjoyed the advantage and power accruing from the income, it was but natural for the state to try all other available avenues to further swell its exchequer.

Dr. B. Prasad

1.Rv. III. 43, 5; V. 54; Av. IV. 22.3, 8: VIII. 7. 16.etc.

2.Rv.VII.18,33,83; III, 33.53, for later references to war see Kathak Samhita IX.17; X.3; XXVIII.2; Taittiriya Samhita. XI. 4; Kausitaki Br. V.5; Sat. Br. II.6.4;

3. Hindu Revenue System. P.21 (1929 ed.).                  4.Rv.I.70.90; V.1. 10.

5. Rv. VII. 1. 6.5; R.C. Majumdar,  ‘Ancient India’. P.45.

6. Rv. VII. 2.1.19 (Wilson’s trans. Vol.IV.).

7. Rv. X. 173, 6.          8. Ibid.

9.Av. III. 4.3 (Whitney ‘s trans. Vol. I).                        10. AV. IV. 22.27.

11. Av. XI. 4.19; X. I. 20; VI. 117.1.

12. Kathak Samhita. XXIX.7.9, Taittiriya Upanishad. I. 5.3 etc.

13. Sat. Br. V. 3.3.12, XIII. 4.4.29; V. 4.2.3.

14. Ait. Br. VII. 29, VII. 34.                            15. Taitt.Br. II.7.18.3; II.12.2.7.

16. Av. (Whitney Trans. P. 136).

17. Maitrayani Samhita  I. 10.16, IV. 3.1; Kathak Samhita. XVIII. 3; Kapisthaka Samhita. XLIV.3.

One of the very first set of things most people has to do before deciding to buy home loans or any other variety of home loan is inquiring for quotes. Quotes are one manner to consider if a home loan is inexpensive or very expensive. It will tell you what special offers are far better and what are not.

Mortgage quotes are essentially estimates provided by mortgage firms to property owners and possible applicants. Quotes points the approximated monthly settlements that you will need to make for your house mortgage of choice.

There are numerous components associated with a mortgage quote, which includes the mortgage kind, number of years you decide to repay the loan and your credit statement. House loan quotes also differ in accordance to the mortgage company providing you. Just like in the situation of home loans, mortgage quotes are also to be found over the internet. Simply visit a mortgage lender’s internet site and find out just how you can acquire mortgage quotes, sometimes even for 100 % free.

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Besides presenting you clues about the loan companies that offer good deals, mortgage quotes are even your guideline around the newest market rates. They are not only essential in buying loans. You can also utilize them before refinancing. Considering that mortgage prices change on a regular basis, you may want to check if your quotes have a time and date of expiry or whether you have the latest mortgage costs.

When requesting lenders for a mortgage quote, you preferably should make sure that you are mindful of the mortgage interest rate. You must know accurately whether the mortgage is interest only, or if the primary is also paid if you make repayments. You also need to take be aware of the distinctive types of mortgage loans and their respected functions.

Upon acquiring quotes, you need to check if the lending corporations that gave you the quotes included other costs that you are obliged to shoulder. These other expenses may include closing costs, property taxes, insurance costs and other miscellaneous expenses. They should be included in the quotes.

There lots of lending companies via the web who are more than enthusiastic to produce you with costless mortgage quotes. Alternatively, you may be obligated to sign up and fill out their forms. That’s why you need to make sure that these corporations are credible with impressive standing papers. You wouldn’t just want to share your information with just any establishment out there.

And before selecting any type of loan, be sure to do some home loan shopping using your quotes.

It is a well known fact that accounting papers are among the most demanding of all assignments. To get superior grades in accounting, there are several factors that should never be under-looked. First, a proper understanding of the subject or topic at hand is critical and secondly, an accounting paper must be approached from an analytical point of view be it a cost accounting paper, a management accounting paper, a financial accounting paper etc. However, because of one reason or the other, many students find themselves lacking in one way or he other and that is where they seek the services of accounting writers. An accounting writer is a qualified accountant (CPA in the United States of America) who has completed all the prerequisite causes in accounting and is at a given time completing accounting papers for thousands of clients globally. However, it is not enough to have the full accounting qualification i.e. CPA in the United States of America to be called an accounting writer. Some accounting writing companies go ahead to insist that all those who work for them as accounting writers have additional qualifications in accounting. These qualifications include a bachelor in accounting or any other relevant graduate or post graduate qualification. For the last two decades, our accounting writers company has been hiring and retaining only the best accounting writers in the accounting writing industry. We recognize the unique challenges students go through in their quest to complete accounting papers in time and that is the sole reason why we have gone a step further to revolutionalized our hiring procedures so as to net the best accounting writers in the industry. Our hiring decisions are informed by two things. One, we insist that all our accounting writers have a prerequisite undergraduate degree in commerce or accounting accompanied by a professional course in accounting such as the CPA (USA). However, we also welcome those who have post graduate qualifications as a deliberate step to ensure that all our accounting paper clients who for one reason or the other may require accounting essays, accounting thesis, accounting assignments, accounting research papers, accounting case studies, accounting course works, accounting term papers, etc get the best services possible. We believe that the only way to ensure that your accounting paper in any field including but not limited to accounting essays, accounting thesis, accounting assignments, accounting research papers, accounting case studies, accounting course works, accounting term papers, etc is original and done whilst observing all the accounting principles and regulations is by attracting the best accounting writers in the industry. You can hence be certain that no matter your accounting undertaking in school, we have the best team of accounting writers top ensure that you get only the best grade. With our accounting writers service therefore, there is no reason whatsoever to get low grades in accounting. It is also important to note that whilst our dedicated team of accounting writers ensures that your paper is 100% original; our writing service ensures that what you are charged is reasonable. We remain dedicated as well as committed to availing only the best accounting papers in any area including but not limited to accounting essays, accounting thesis, accounting assignments, accounting research papers, accounting case studies, accounting course works, accounting term papers, etc.

Doing surveys includes pulling out important information. This is usually related to business, markets, competitors, scope of growth, methods of increasing revenue etc. Surveys help understand these factors better, more importantly are crucial in comparisons. Any comparison pertaining to any of these factors can be accurate if a proper survey has been conducted by the right professionals with the right skill and pedigree.

These marketing research reports, or business market research surveys, as they are more popularly known as, are a nicely compiled set of data that help take the procedure further. Given below are some comprehensive benefits.

•    Communication eases with Current and Potential Customers: Marketing research reports help in formulating effective marketing campaigns. The campaigns remain highly targeted, eventually bringing in quality feedback from people.       

•    They help identify available opportunities in markets: This is the best thing about business market research surveys. Places where businesses can be set up, expanded and grown exponentially are identified through surveys. The data in them makes everything pretty clear, for business promoters to identify and use. They help see whether locals offer prospects for growth or not.

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•    Risk is brought down to a Bare Minimum: There always lay multiple risks in business. Business market research surveys help bring them down. Potential business opportunities are dug through them. The number of direct competitors, their products and services and everything else is found out through these. The kind of sales a business can make too can be calculated.

•    Track Progress, Set Benchmarks: Business market research surveys help chalk out benchmarks for various products. One gets to chart progress between research intervals. Also understood, are the demographics associated with the service. Progress can constantly be tracked.

•    They help evaluate success: Any promoter gets the chance to analyze whether the business goals are being achieved or not. The beauty of business market research surveys lies in their aid in finding out how a product fares in an area and what chances are of it being bought extensively. This lays down the foundation for coming times and helps plan better.

These marketing research reports are prepared by individuals with great skill. They use the latest tools for research to find necessary data, compile them nicely into reports, have the data verified by their quality teams and dispatch to clients.

Business market research surveys contain details about everything that possibly ought to be studied and explored in the markets. Prices, commodities, buyers, potential buyers, competitor products, scope of growth etc. and all other factors that require comprehensive study.

There probably is nothing else left to be covered. A survey in itself means comprehensive information compilation. Every nook and corner is covered in a survey performed on a business or on a market. Every detail is described, every possible comparison made, every existing threat explained and every available opportunity elucidated.
 
A survey could not be better. With it in hand, any business promoter can always look forward to business growth with a lot of optimism. He will not be disappointed.

Government loan modification that has certified counseling agencies as well as local community service agencies grant they have been flooded by demand for loan modification. The demand has opened the for loan modification services now provides with lenders, real estate agents, attorneys, mortgage brokers, government agencies, and other professionals. The demand stems from a proliferation of federal, state and local foreclosure relief and help efforts from both government as well as the lending industry. Loan modification has been around for years; however those current efforts have raised the profile of the mortgage workouts as an option to foreclosures, auctions, and short sales along with bankruptcy.

Nevertheless, homeowners looking out for federal loan modification are at the mercy of lenders as the workouts are unpaid and often without rigid standards. The private countrywide loan modification programs, fixed in the tilt, homeowners are facing it tough to understanding as a loan modification would work and how to get best one.  

Loan modification

A home loan modification, granted only upon the present lender’s approval, endearingly revise some of the terms of a present mortgage so as to make the loan more affordable to the homeowner.  The plan is normally intended for homeowners stressed to pay their mortgage, not for those who could pay their mortgage or are qualified for a refinanced loan.

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A loan modification is normally lender fee-free and includes the lender or loan holder lowering the rate of interest and or changing an adjustable-rate mortgage (ARM) to a fixed rate mortgage (FRM) with a 30-year term. Some form of mandated home ownership counseling generally comes with the deal. Countrywide loan modification is an example of this. Less common loan modification includes adding missed payments to the loan balance and extending the term of the loan. Least common is getting the lender to lessen the principal or pay out any second mortgages. A mortgage loan modification isn’t a refinanced mortgage a brand new loan written to repay off the old home loan.

A loan modification may not be feasible if:

•    The modified loan comes with payments that you can’t afford.

•    Your existing interest rate is already low and there’s no room for the lender to lower it more.

•    You could make the new payments, however the mortgage balance is greater compared to the value of your home and you don’t plan on staying put long sufficient to reverse the loan-to-value inequity.

•    You have not previously missed payments on your mortgage or can’t show financial hardship due, say, to joblessness, pay low, illness or interest rate increase.

•    You have added properties, investments or assets which could be settle to cover your mortgage debt.

•    A short sale. The lender excuse a part of the debt owed if you could find a buyer, bankruptcy, auction sale, refinance or added approach, short of a foreclosure, is a better alternative.

A financial, housing or credit counselor could assist you to decide your best alternative. Just be prepared to hold down the fort for the 60 to 90 days or more it could take to complete the loan modification, because of potential complications and document processing times.