Deferred Tax Essay Example | Topics and Well Written Essays - 500 words

Deferred Tax - Essay Example My decision was based on the weight of the present evidence. The matter was whether or not there would be ample taxable income generated in the coming years by the company for the realization of the anticipated tax benefit. The benefits of forthcoming deductible amounts may be realized when the anticipated future income may be at least the equivalent of the deferred deductions. Deductions frequently reduce taxes only when they reduce taxable income. However, the company was not in such a position, and it prompted my decision. However, as a noteworthy additional fact, the allowance ought to be occasionally re-assessed. Out of necessity, alter may be altered in accordance with tax laws that limit the future utilization of deductible provisional differences. The resulting effect of the valuation allowance may also affect the projected yearly effective tax rate. Having reviewed all the positive and negative evidence available, I deduced that the company needed to create value account allowance on deferred tax assets. For instance, the company has been recently operating losses. Moreover, the anticipated situations were likely to impact adversely on future operations. The management has failed, in the past years, to implement viable strategies that would improve the company’s performance. If the company had a sturdy history of profitable and sizable operations, that would be an indication of positive evidence. In such a case, the ample taxable income would lead to a realization of the deferred tax asset. In my capacity as the accountant, I firmly believe that the management was not capable of making any turnaround in the near future. There are many managerial actions that would be taken minimize or eradicate a valuation allowance if deferred tax assets are not to be realized that the company failed to make. The tax-planning tactics encompass any

Restoration & Recovery Plan Essay Example | Topics and Well Written Essays - 1750 words

Restoration & Recovery Plan - Essay Example These directives and orders are part of Continuity of Operations (COOP) planning is required for Federal Government Agencies. PDD 63 or the Critical Infrastructure Protection directive and FPC 65 summarize the requirements for COOP information system infrastructure and emergency measures. FPC 65 stipulates that federal agencies are required to get back into operations within 12 hours from any kind of service collapse. OMB CircularA-130 prescribes continuity of operations planning which includes emergency procedures and policies for immediate operations recovery and restoration as well as long-term mitigation of potential services interruption of critical operations (EMC Corporation, 2006). In any kind or emergency, police and emergency services are the most essential. Therefore, the integrity, restoration and recovery of information systems in these branches of government should be the utmost priority. Florida is one of the states that have had to be vigilant regarding these concerns since the 1990's (Mittler, 1995). The Palm Beach Sheriff's Office is no exception to these circumstances. Palm Beach's experience with Hurricane Katrina emphasized not only the need to be prepared for the disasters and the essential role that police and emergency services have to play in recovery (Kam & Gomez, 2005). Restoration and Recovery of Information Systems and Data Breakdowns of information systems and data loss are not limited to the event of disasters. Natural disasters may impact systems extremely and can impair critical functions when they are needed the most but system attacks, hacking and other related crimes that is becoming the most urgent. Restoration of Information System Operations According to the National Security Agency (NSA), through the Information Assurance Directorate (IAD), information assurance refers to procedures designed to safeguard and secure information and information systems against failure, collapse or attacks. Part of this program is the re-establishment of information systems by the development of security, response and resolution competencies into the system (2006). These standards govern feral information systems and have been adopted by industry as well. These measures include providing for restoration of information systems by incorporating protection, detection, and reaction capabilities. Public sector agencies and departments must comply within the prescribed recovery period and point service levels depending on the significance of their operations and information. They have to take into account considerable quantities of paper and electronic data, data storage distribution, necessity for nonstop operations and high data security and integrity measures (EMC Corporation, 2006) Recovery of Data Data backup and replication are the underlying concern in restoration and recovery. The primary factors considered are cost, management, reliability and security Effective back up strategies limit the need to reinstall programs and regenerate data in the events of data loss. However, data loss over a long period of time either by malicious acts or because of inadequate systems is more difficult to salvage and may go unnoticed (Ginty, 2005).