Introduction to Gst free essay sample

Introduction to GST A goods and services tax (GST) was introduced into Australia on 1 July 2000 * It is a tax levied at the rate of 10% on the supply (sale) of most services and goods * Business registered under the GST legislation collect the tax on behalf of the Australian tax office (ATO) and remit the amounts collected to the ATO at regular intervals * Business are allowed to offset and GST they pay on buying services and goods against the GST collected on supplies * Any business which is registered for GST typically has two accounts: * GST collection (GST payable in the GST legislation) for any GST received or receivable by the entity from its customers. This is what the company â€Å"owes† to the government. Therefore, it a liability * GST Outlays (GST credit in the GST legislation) for any GST paid or payable by the entity to its suppliers. This is what the entity can claim as a refund from the government. We will write a custom essay sample on Introduction to Gst or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Therefore, is an asset all * All supplies of services and goods are subject to GST unless they are Non-taxable * There are two types of non taxable supplies * â€Å"GST-free† supplies are services and goods that would normally attract GST but are exempted under the legislation. (e. g. fresh food, educational courses, wages and salaries, capital contribution and withdrawals) * â€Å"Input taxed† supplies (e. g. bank fees, bank charges, a loan from a bank) Items| GST/No GST| Contribution of cash by the owner| No GST| Purchase of supplies on credit| GST| Payment of tuition fees| No GST| Payment of wages to employees| No GST| Sales of service on credit| GST| Cash paid to accounts payable| No GST| Purchase of services for cash| GST| Interest received from a bank| No GST| Cash received from accounts receivable | No GST| Accounting for GST * The GST legislation provides rules for allocating GST payable and GST credits to the relevant tax period * The tax period entities account for GST will depend on whether they account for GST on a cash basis or an accruals basis * Entities that issue or receive an invoice but do not account for the sale of purchase until the cash is received or paid are using a cash basis * Entities that account for the sale of purchase at the time of issue or receipt of an invoice are using the accruals basis Cash Basis * An entity is eligible to use a cash basis for GST if: The entity is a small business with an annual turnover or less than 2,000,000 * The entity accounts for income tax on a cash basis * Under the cash accounting system: * The GST collections are recorded at the time cash is received for supply of services and goods * GST outlays are recorded when cash is paid for services and goods Accruals basis * An entity can choose to account for GST on a non-cash basis even if it is eligible to account for GST on a cash basis * If it is not eligible to account for GST on a cash basis, it must account on a non-cash basis * Under the accruals accounting system: * GST collections and GST outlays are recorded when a tax invoice is issued/received or cash is received/paid, whichever event occurs first.

5 Strategies for Writing University Assignment Within the Limited Time

5 Strategies for Writing University Assignment Within the Limited Time 5 Strategies for Writing University Assignment Within the Limited Time Time is an enemy for many students who study at college or university. It takes them a long time to make a report or write a coursework. What to say about exams when the time is limited? No educator will wait for the moment when a source of inspiration, time and the desire for an assignment will appear. It is supposed to be written and submitted to an instructor on a due date or within specific time. The question is how to succeed in performing successfully all of them and not to flunk out. It doesn’t matter whether you find yourself in such a situation because of huge tones of work on your shoulders or simply because of procrastination. What matters is how you use the limited time to tackle a college assignment effectively. 1.   Stay Calm According to the research study, anxiety during such stressful events as exams or tests is the main cause of students’ inability to achieve acceptable results. Don’t allow your fears to fail such an important stage in life to graduate from university. If you experience anxiety, mindfulness and relaxation strategies can help you improve low test performance and reduce anxious feelings. Don’t panic even if you feel the time pressure is too much. Stay calm and start working on assignments. 2.   Read Through Assignments Carefully Whether it’s a last minute assignment or an exam, reading through the questions helps you understand what is required. Even with the limited amount of time, don’t rush to answer a question. Use the first few minutes to read each question carefully without replying it. Look for keywords in each question and circle or underline them. There are words that should guide you on how you are supposed to answer questions. However, you should always have in mind that time is of the essence so don’t take too much time on this. This should only take up to a maximum of 5 minutes. The examples of some keywords that you should be on the lookout for include: outline; highlight; discuss; compare; contrast; illustrate; state; explain; elaborate. 3.   Start with Easy Questions The major reason why most students fail to complete their exams is simply due to the fact that they waste too much time thinking about what they don’t know rather than focusing on what they already know. Don’t run out of time whereas you have easy questions unanswered. According to BTPS Testing, a test preparation program, starting with easy question helps to: increase your chances of scoring higher in the assignment/exam; save time which is essential when you have limited time; help in boosting self-confidence; help you remember. 4.   Prioritize Your Tasks Take note of the marks awarded to each and every question and this will give you an idea of how many points you can earn. Needless to say, complex questions are assessed higher than simple ones. Besides, questions that assess special knowledge and skills are given higher points than questions that assess common knowledge. Try to concentrate on a task that guarantees you to get high marks. 5.   Plan Your Answers As the saying goes â€Å"Failing to plan is planning to fail†. When you have limited time to do an assignment you can save a lot of time if you plan your answers. At MyCollegeSuccess real students share their effective tips how to deal with college assignments. For example, Adrianne W. recommends that the main ideas should be outlined in a scratch of paper or jotted down with a faint pencil on the question paper. When it comes to writing down answers you you just need to spell out details. Save each minute that is essential when you are in the last minute rush. Whether it’s a heavy workload or simply your ignorance, you need to know several tricks so that you won’t succumb to the pressure of writing assignments within the limited time. One more effective way is to apply our custom assignment writing service to get high-quality paper samples from our qualified academic writers. We are open to you 24/7 so that you can achieve high results in writing even within short timeframes.

Role of HR in Knowledge Management Research Paper

Role of HR in Knowledge Management - Research Paper Example Most of the organizations do not effectively utilize Human Resources’ contribution for the effective implementation of Knowledge Management. If people are managed effectively and their knowledge utilized efficiently, then evidently it can become a competitive advantage. Relying on modern information systems will be fruitful if people are actively involved in knowledge sharing. The different areas of Human Resources which help in effective knowledge sharing are reward systems, recruitment, retention, succession planning and training and development. The first and most obvious area of Human Resources involvement in Knowledge Management is reward management. It is very clear that employees will not be ready to share their knowledge and expertise until and unless they are rewarded. Rewards will motivate them to share their knowledge and it is purely on the shoulders of Human Resource people to undertake this task. This way H R enables knowledge sharing in different departments. In case of recruitment, retention and succession planning from a Knowledge Management perspective can be looked at as filling knowledge gaps. While recruiting new employees, they can select candidates who are more creative and innovative and can adapt themselves to the changing work environment. Also, retention of good employees is necessary. The HR policies and procedures should be designed in such a way that they allow employees to meet their personal objectives. Succession planning, on the other hand, is about planning to meet future skills and knowledge needs with existing resources. Human Resources’ involvement and its contribution is perhaps the greatest in training and development. Human Resources should get itself actively involved in the technological developments in the workplace as they can train the employees accordingly. Training is necessary for individuals to work in teams as co-operation and sharing of information brings in benefits for the whole organization. T hough Human Resources’ contribution is inevitable in the area of Knowledge Management, it has certain limitations as Human Resources and other departments are most in conflicts. This can be seen as a limitation of Human Resources’ intervention in effective Knowledge Management. Employees in other departments need to support the HR people for effective knowledge sharing as HR people becomes the mediator in knowledge sharing. This is not Human Resources’ role alone but its contribution is necessary. Building a culture for Knowledge management on certain values will require changes in systems and processes, and a way of doing things which both transmits the organizational culture to new employees and reinforces it to old employees. As with any change situation, conflicts can arise. This is where Human Resources can contribute to the development of the Knowledge Management culture by handling such conflicts. According to Chivu and Popescu (2008),  in terms of know ledge migration, Human Resource may play a major enabling role in helping identify the potential of knowledge migrants. According to them, the HR process with regard to knowledge management involves HR sought assessment and selection, HR sought training and development, HR sought appropriate communication, reward and recognition schemes and knowledge