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Principles Of Accounts o level
- Thread starter M.Hamza
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Can u post a small summary about goodwill please?
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i need stuffs on those statutory deduction and bla bla that i don't find in business accounting book
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Statutory deductions are deductions required by laws and consist of:
1. Income Tax-
An employer must deduct the correct amount of income tax from the gross pay of each employee. This must be forwarded to the appropriate government departments at regular intervals, often monthly.
2. Social security/National contribution
The employer must calculate and deduct social security or national security contributions from the gross pay of each employee. Such deductions allow employees to benefit from services provided by the government such as unemployment benefits, sickness benefits and retirement pensions.
In addition to the contribution of the employee, a larger contribution is also made by the employer. The total of the contribution must be forwarded by the employer to the appropriate government departments at regular intervals
The other one is voluntary Deductions
These are deductions an employee chooses to have deducted from his/her gross wage. The employee asks the employer to make these deductions and to pass the amounts to the appropriate organizations. These voluntary deductions include the following:
1. Contribution to a pension scheme
The employee may wish to make contributions to a private pension plan to supplement any state pension. The employer deducts an agreed amount fro the employee's gross pay and forwards it to the pension company
2. Subscriptions to a Trade Union
Where an employee is a member of a Trade Union, it is quite common for the monthly or weekly subscriptions to be deducted from his/her gross wage. The employer forwards the amount to the appropriate Trade Union office.
3. Subscriptions to a Social club
Businesses which have a large number of employees often make a social club available fr their employees. Whilst the premises and some of the running cost are often paid by the business, the members of the club have to pay a subscription. The employee can request that his/her subscription is deducted from their gross wage. The employer passes this to the treasurer of the social club.
4. Donations to charities
Employees can request that their employers deduct a certain amount from their wage to donate a named charity. The employer will forward the amount to the treasurer of the appropriate charity.
THIS WAS THE NOTES WHICH I COULD FIND FOR YOU
1. Income Tax-
An employer must deduct the correct amount of income tax from the gross pay of each employee. This must be forwarded to the appropriate government departments at regular intervals, often monthly.
2. Social security/National contribution
The employer must calculate and deduct social security or national security contributions from the gross pay of each employee. Such deductions allow employees to benefit from services provided by the government such as unemployment benefits, sickness benefits and retirement pensions.
In addition to the contribution of the employee, a larger contribution is also made by the employer. The total of the contribution must be forwarded by the employer to the appropriate government departments at regular intervals
The other one is voluntary Deductions
These are deductions an employee chooses to have deducted from his/her gross wage. The employee asks the employer to make these deductions and to pass the amounts to the appropriate organizations. These voluntary deductions include the following:
1. Contribution to a pension scheme
The employee may wish to make contributions to a private pension plan to supplement any state pension. The employer deducts an agreed amount fro the employee's gross pay and forwards it to the pension company
2. Subscriptions to a Trade Union
Where an employee is a member of a Trade Union, it is quite common for the monthly or weekly subscriptions to be deducted from his/her gross wage. The employer forwards the amount to the appropriate Trade Union office.
3. Subscriptions to a Social club
Businesses which have a large number of employees often make a social club available fr their employees. Whilst the premises and some of the running cost are often paid by the business, the members of the club have to pay a subscription. The employee can request that his/her subscription is deducted from their gross wage. The employer passes this to the treasurer of the social club.
4. Donations to charities
Employees can request that their employers deduct a certain amount from their wage to donate a named charity. The employer will forward the amount to the treasurer of the appropriate charity.
THIS WAS THE NOTES WHICH I COULD FIND FOR YOU
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Statutory deductions are deductions required by laws and consist of:
1. Income Tax-
An employer must deduct the correct amount of income tax from the gross pay of each employee. This must be forwarded to the appropriate government departments at regular intervals, often monthly.
2. Social security/National contribution
The employer must calculate and deduct social security or national security contributions from the gross pay of each employee. Such deductions allow employees to benefit from services provided by the government such as unemployment benefits, sickness benefits and retirement pensions.
In addition to the contribution of the employee, a larger contribution is also made by the employer. The total of the contribution must be forwarded by the employer to the appropriate government departments at regular intervals
The other one is voluntary Deductions
These are deductions an employee chooses to have deducted from his/her gross wage. The employee asks the employer to make these deductions and to pass the amounts to the appropriate organizations. These voluntary deductions include the following:
1. Contribution to a pension scheme
The employee may wish to make contributions to a private pension plan to supplement any state pension. The employer deducts an agreed amount fro the employee's gross pay and forwards it to the pension company
2. Subscriptions to a Trade Union
Where an employee is a member of a Trade Union, it is quite common for the monthly or weekly subscriptions to be deducted from his/her gross wage. The employer forwards the amount to the appropriate Trade Union office.
3. Subscriptions to a Social club
Businesses which have a large number of employees often make a social club available fr their employees. Whilst the premises and some of the running cost are often paid by the business, the members of the club have to pay a subscription. The employee can request that his/her subscription is deducted from their gross wage. The employer passes this to the treasurer of the social club.
4. Donations to charities
Employees can request that their employers deduct a certain amount from their wage to donate a named charity. The employer will forward the amount to the treasurer of the appropriate charity.
THIS WAS THE NOTES WHICH I COULD FIND FOR YOU
man thanks but i dont think that is required for paper 2 since paper 1 is already gone
im kinda looking for formulas, i cudn't find formular that are required for the o level- Messages
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No i dont think there is a particlar formula for itman thanks but i dont think that is required for paper 2 since paper 1 is already gone
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anything on limited company
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il try to
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it may take time but before tuesday
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exam is on tuesday ! :O
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Yeah dats wat i sed before tuesday
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Yeah dats wat i sed before tuesday
u cant just post it one hour before the exam, say like sunday saturday , before tuesday sounds at the 11th hour -_-
but not monday please
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K il try to but y not on monday?
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just the day before exam -_- idk, like that day we'd most of us wud be doing recent questions papers , btw there's somethin i'm confused abt in p1, there was one question on statutory type of quesiton, did u treat it like a normal asset? like owing or advanced paid ?
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I cant actually ramamber. K il try my best
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Hey lishark im realy realy sorry i was loking for notes on limited companies but unfortunately i coldnt find anything for uthanks man
Im so so sorry by the way i think ur commerce notes will help you. Once again im very sorry. If u give me more time il atleast find and post the notes in this page. But dont be confident that il post il try my best- Messages
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http://www.mediafire.com/?fsixph1lvxr9r#x7r7z9dq5wazs
I found a website for u. This is full of accounting notes. And there are different topics
I found a website for u. This is full of accounting notes. And there are different topics
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oh thanks i feel lazy doing all the acc past papers, i can do most of 'em but its so BORING! -___-
i feel lazy doing all the acc past papers, i can do most of 'em but its so BORING! -___-