Accounting and Taxes

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The first subject matter is about the tax policies by the authorities towards the corporate entities. The intent behind the choice of this thought is that most of the discussions only focus on the results of the tax policy changes such as the built-in and classical systems and their impact on the monetary decisions as well as investments in the company organizations. However, there are little efforts as to the understanding of how the agencies can adopt the challenges and increase their monetary leverage despite double taxation at the corporate stage in come and through individual dividends acquired by shareholders. Therefore, the focus on the subject matter is helpful in providing a foundation for the advisory role to other firms through the services provided by the JL Partners Chartered Accountants firm.

The second topic is about the accounting techniques and programs in the accounting profession such as Xero and MYOB. The rationale is that most businesses today are integrating technology in multiple dimensions to help increase the efficiency and fasten the decision-making process which saves both time and cost. In the recent years, cloud technology based systems have greatly contributed to the efficiency of organizations. In the accounting and financial reporting field, systems such as MYOB, Xero, and QuickBooks play a significant role in ensuring ease of accessibility and automation of accounting reports (Thomas, 2015). Therefore, it is important to learn how the systems work which has two areas of significance. Firstly, learning the operations of the system will help to know the correct information to feed to the software and achieve high accuracy and reliability. Also, it helps learn the user interfaces hence easy navigation which reduces the length of time in maneuvering through the system and feeding the online technology data. The second importance is that understanding the systems increases the competence of giving financial advice to other companies on what system is the best for a particular type or level of business, as a way to achieve the best outcomes in the accounting and audit services (Zinghini, 2017).

Application of the Topics to the Role, Organization, and Industry

The first topic relates to both the role of an accountant, the JL partners firm and the industry of accounting services. Firstly, understanding the corporate tax procedures and the effect of the policies on the organizations compliments the accountancy professionals in advising how to maximize return despite the challenge of double taxation (Poterba et al., 2011). The reason is that double taxation, particularly in the individual dividends level, reduces the investment of shareholders (Djankov et al., 2010). As a result, it affects the capitation and financial decisions of a company.

The second topic directly addresses the hands-on skills of the online technology systems in accounting which increases the knowledge of keeping the books of accounts in the software, and how the automation increases decision making (Thomas, 2015). Therefore, one can understand how to use the systems to perform the roles such as PAYE calculations, GST, tax returns, as well as preparation of financial statements (Thomas, 2015). Lastly, understanding the systems helps an individual recommend the best alternative for a particular type or level of business (Zinghini, 2017).

Research Steps In Investigating the Topics

The following steps will guide the investigation of the topic.

Identifying the problem that the topic can address

Coming up with research questions

Reviewing and analyzing current literature on the topic

Defining the methods of collection and analysis of data

Identifying the sample population and conducting the research

Analysis and interpretation of the results

Writing a report on the whole process that includes the recommendations based on the results, to address the problem

List of Keywords for an Electronic Search

The key words include MYOB, Xero, QuickBooks, financial systems, corporate taxes, tax policy, classical tax system, double taxes, corporate income taxation, financial decisions, investment, and accounting cloud technology.

References

Contos, G. (2009). An Essay on the Effects of Taxation on the Corporate Financial Policy. Retrieved 4 September 2017, from https://www.irs.gov/pub/irs-soi/05contos.pdf

Djankov, S., Ganser, T., McLiesh, C., Ramalho, R., & Shleifer, A. (2010). The Effect of Corporate Taxes on Investment and Entrepreneurship. American Economic Journal: Macroeconomics, 2(3), 31-64. Retrieved from https://www.enterprisesurveys.org/~/media/GIAWB/EnterpriseSurveys/Documents/ResearchPapers/Effect-of-Corporate-Taxes-on-Investment.pdf

Poterba, J., Hall, R., & Hubbard, R. (2011). Tax Policy and Corporate Saving. Brookings Papers On Economic Activity, (2), 455-516. Retrieved from https://www.brookings.edu/wp-content/uploads/1987/06/1987b_bpea_poterba_hall_hubbard.pdf

Thomas, K. (2015). Xero vs MYOB – EtaxLocal Accountants Pty Ltd. EtaxLocal Accountants Pty Ltd. Retrieved 4 September 2017, from https://www.etaxlocal.com.au/blog/xero-vs-myob/

Zinghini, F. (2017). Xero vs MYOB – What’s The Best Accounting Software For Your Business?. The Field Group – Accountants & Business Advisors. Retrieved 4 September 2017, from https://www.fieldgroup.com.au/xero-vs-myob-accounting-small-business/

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