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Capital Asset
A capital asset is defined as property of any kind held by an assessee, whether connected with their business or profession or not connected with their business or profession. It includes all kinds of property, movable or immovable, tangible or intangible, fixed or circulating. Thus, land and building, plant and machinery, motorcar, furniture, jewellery, route permits, goodwill, tenancy rights, patents, trademarks, shares, debentures, securities, units, mutual funds, zero-coupon bonds etc. are capital assets. Excluded from the definition # Any stocks in trade, consumable stores, or raw materials held for the purpose of business or profession have been excluded from the definition of capital assets. # Any movable property (excluding jewellery made out of gold, silver, precious stones, and drawing, paintings, sculptures, archeological collections, etc.) used for personal use by the assessee or any member (dependent) of assessee’s family is not treated as capital assets. ''For ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tangible
Tangibility is the property of being able to be perceived by touch. A commonplace understanding of "tangibility" renders it as an attribute allowing something to be perceptible to the senses. In criminal law, one of the elements of an offense of larceny is that the stolen property must be tangible. In the context of intellectual property, expression in tangible form is one of the requirements for copyright protection. In the context of international tax law, article 5(1) of the OECD Model Tax Treaty requires to date a permanent establishment to consist of a ''tangible'' place of business. This is problematic concerning the taxation of the Digital Economy. In the context of trade, "tangibles" are physical goods (as opposed to "intangible" services and software). See also * Tangible property * Tangible media * Tangible user interface * Tangible investment * Tangible common equity Tangible common equity (TCE), the subset of shareholders' equity that is not preferred equity ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Life-cycle Cost
Whole-life cost is the total cost of ownership over the life of an asset. The concept is also known as life-cycle cost (LCC) or lifetime cost, and is commonly referred to as "cradle to grave" or "womb to tomb" costs. Costs considered include the financial cost which is relatively simple to calculate and also the environmental and social costs which are more difficult to quantify and assign numerical values. Typical areas of expenditure which are included in calculating the whole-life cost include planning, design, construction and acquisition, operations, maintenance, renewal and rehabilitation, depreciation and cost of finance and replacement or disposal. Financial Whole-life cost analysis is often used for option evaluation when procuring new Asset, assets and for decision-making to minimize whole-life costs throughout the life of an asset. It is also applied to comparisons of actual costs for similar asset types and as feedback into future design and acquisition decisions. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Capital
Natural capital is the world's stock of natural resources, which includes geology, soils, air, water and all living organisms. Some natural capital assets provide people with free goods and services, often called ecosystem services. All of these underpin our economy and society, and thus make human life possible. It is an extension of the economic notion of capital (resources which enable the production of more resources) to goods and services provided by the natural environment. For example, a well-maintained forest or river may provide an indefinitely sustainable flow of new trees or fish, whereas over-use of those resources may lead to a permanent decline in timber availability or fish stocks. Natural capital also provides people with essential services, like water catchment, erosion control and crop pollination by insects, which in turn ensure the long-term viability of other natural resources. Since the continuous supply of services from the available natural capital as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Triple Bottom Line
The triple bottom line (or otherwise noted as TBL or 3BL) is an accounting framework with three parts: social, environmental (or ecological) and economic. Some organizations have adopted the TBL framework to evaluate their performance in a broader perspective to create greater business value.Slaper, Timothy F. and Hall, Tanya J. (2011)"The Triple Bottom Line: What Is It and How Does It Work?"''Indiana Business Review''. Spring 2011, Volume 86, No. 1. Business writer John Elkington claims to have coined the phrase in 1994. Background In traditional business accounting and common usage, the "bottom line" refers to either the "profit" or "loss", which is usually recorded at the very bottom line on a statement of revenue and expenses. Over the last 50 years, environmentalists and social justice advocates have struggled to bring a broader definition of bottom line into public consciousness by introducing full cost accounting. For example, if a corporation shows a monetary profit, but t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Public Sector Accounting Standards
International Public Sector Accounting Standards (IPSAS) are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in the preparation of financial statements. These standards are based on International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB). Objective IPSAS aims to improve the quality of general purpose financial reporting by public sector entities, leading to better informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability. Scope IPSAS are accounting standards for application by national governments, regional (e.g., state, provincial, territorial) governments, local (e.g., city, town) governments and related governmental entities (e.g., agencies, boards and commissions). IPSAS standards are widely used by intergovernmental organizations or institutions. IPSAS do not apply to government business ente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and private physical structures such as roads, railways, bridges, tunnels, water supply, sewerage, sewers, electrical grids, and telecommunications (including Internet access, Internet connectivity and Broadband, broadband access). In general, infrastructure has been defined as "the physical components of interrelated systems providing Commodity, commodities and services essential to enable, sustain, or enhance societal quality of life, living conditions" and maintain the surrounding environment. Especially in light of the massive societal transformations needed to Climate change mitigation, mitigate and Climate change adaptation, adapt to climate change, contemporary infrastructure conversations frequently focus on sustainable development and gre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Capital
Public capital is the aggregate body of government-owned assets that are used as a means for productivity.Aschauer, D. A. (1990). Why is infrastructure important? Conference Series roceedings Federal Reserve Bank of Boston. Pp. 21-68. Such assets span a wide range including: large components such as highways, airports, roads, transit systems, and railways; local, municipal components such as public education, public hospitals, police and fire protection, prisons, and courts; and critical components including water and sewer systems, public electric and gas utilities, and telecommunications.Tatam, J. A. (1993). The Spurious Effect of Public Capital Formation on Private Sector Productivity. Policy Studies Journal, Vol. 21. Often, public capital is defined as government outlay, in terms of money, and as physical stock, in terms of infrastructure. Current state in the U.S. In 1988, the U.S. infrastructure system including all public and private non-residential capital stock was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Remediation
Environmental remediation deals with the removal of pollution or contaminants from environmental media such as soil, groundwater, sediment, or surface water. Remedial action is generally subject to an array of regulatory requirements, and may also be based on assessments of human health and ecological risks where no legislative standards exist, or where standards are advisory. Remediation standards In the United States, the most comprehensive set of Preliminary Remediation Goals (PRGs) is from the Environmental Protection Agency (EPA) ''Regional Screening Levels'' (RSLs). A set of standards used in Europe exists and is often called the Dutch standards. The European Union (EU) is rapidly moving towards Europe-wide standards, although most of the industrialised nations in Europe have their own standards at present. In Canada, most standards for remediation are set by the provinces individually, but the Canadian Council of Ministers of the Environment provides guidance at a federa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Operating Lease
The expression "operating lease" is somewhat confusing as it has a different meaning based on the context that is under consideration. From a product characteristic stand point, this type of a lease, as distinguished from a finance lease, is one where the lessor takes larger residual risk, whereas finance leases have no or a very low residual value position. As such, the operating lease is non full payout. From an accounting stand point, this type of lease (if it fails to meet varied criteria that define a finance lease) results in off balance sheet financing which can be advantageous for companies in terms of gearing and other accounting ratios. The determination of whether a lease is a finance (also called capital) lease or an operating lease from an accounting point of view is defined in the United States bStatement of Financial Accounting Standards No. 13 (FAS 13) In countries covered by International Financial Reporting Standards, the tests are defined iIAS 17 In July 2006, th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Capital Lease
A finance lease (also known as a capital lease or a sales lease) is a type of lease in which a finance company is typically the legal owner of the asset for the duration of the lease, while the lessee not only has operating control over the asset, but also some share of the economic risks and returns from the change in the valuation of the underlying asset. More specifically, it is a commercial arrangement where: * the lessee (customer or borrower) will select an asset (equipment, software); * the lessor (finance company) will purchase that asset; * the lessee will have use of that asset during the lease; * the lessee will pay a series of rentals or installments for the use of that asset; * the lessor will recover a large part or all of the cost of the asset plus earn interest from the rentals paid by the lessee; * the lessee has the option to acquire ownership of the asset (e.g. paying the last rental, or bargain option purchase price); A finance lease has similar financial charac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Construction
Construction is a general term meaning the art and science to form objects, systems, or organizations,"Construction" def. 1.a. 1.b. and 1.c. ''Oxford English Dictionary'' Second Edition on CD-ROM (v. 4.0) Oxford University Press 2009 and comes from Latin ''constructio'' (from ''com-'' "together" and ''struere'' "to pile up") and Old French ''construction''. To construct is the verb: the act of building, and the noun is construction: how something is built, the nature of its structure. In its most widely used context, construction covers the processes involved in delivering buildings, infrastructure, industrial facilities and associated activities through to the end of their life. It typically starts with planning, financing, and design, and continues until the asset is built and ready for use; construction also covers repairs and maintenance work, any works to expand, extend and improve the asset, and its eventual demolition, dismantling or decommissioning. The constructio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Infrastructure And Economics
Infrastructure (also known as "capital goods", or "fixed capital") is a platform for governance, commerce, and economic growth and is "a lifeline for modern societies".Esmaeili, Behzad, et al. "Inclusion of an Introduction to Infrastructure Course in a Civil and Environmental Engineering Curriculum." Journal of Professional Issues in Engineering Education and Practice (2016): 04016020 It is the hallmark of economic development.Goldsmith, H. (2015). Actors and innovations in the evolution of infrastructure services. The Economics of Infrastructure Provisioning, 23-94. It has been characterized as the mechanism that delivers the "..fundamental needs of society: food, water, energy, shelter, governance ... without infrastructure, societies disintegrate and people die."Hart, Steven D., et al. "Infrastructure and the Operational Art:A Handbook for Understanding, Visualizing, and Describing Infrastructure Systems" US Army Engineer Research and Development Center, (2014) Adam Smith argu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
