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美国college essay:营利机构与非营利机构区别分析(2)

时间:2015-02-04 09:39来源:www.ukassignment.org 编辑:lynn406 点击:
1.4 资金配置Assets Distribution As provided by the Public Sector Accounting Standard Board of the Australian Accounting Research Foundation and Australian Accounting Standard Board (1995), asset c
1.4 资金配置——Assets Distribution
 
As provided by the Public Sector Accounting Standard Board of the Australian Accounting Research Foundation and Australian Accounting Standard Board (1995), asset can be defined as the future economic benefits that controlled by the organizations due to past transactions or other past events. This means that it is something that will benefit the organization for achieving the organization’s objectives. This is due to in achieving their objectives; both profit and nonprofit organization use assets to provide goods and services that will satisfy people needs and wants.
 
In profit organization, the assets are used to provide goods and services. Organization’s objective to maximize profit is achieved through the benefits received from the sale of these goods and service. Besides, the sale of the assets can also benefit the organization toward achieving profit maximization. In profit organizations, all the assets in the organizations belong to the business owners as the assets are bought by using the capital contributed by the owners. Therefore, while a profit organization is dissolved, organization’s assets or the money from the sale of assets will be distributed to the organizations’ owners in accordance to the proportion of shares owned or the percentage of their ownership in the organizations.
 
However, in nonprofit organization, assets are used to provide goods or services to fulfill the needs and wants of the needy without charges rather than to receive profit. In nonprofit organization, all the assets are belongs to the organizations. No personal is entitled to claim for the assets in a nonprofit organization. When a nonprofit organization is being dissolves, all the assets will be transferred or donated to another nonprofit organization. Therefore, one who is likely to earn money will invest in profit organizations rather than nonprofit organizations due to the restriction of nonprofit organizations in handling their assets.
 
1.5利润分配—— Profit Distribution
 
The next difference between profit and nonprofit organization is in term of profit distribution. The business owners in a profit organization are entitled to realize gains from their organization. When a profit organization has good performance or has surplus of money from sale for current period, the excessive gain is allowed to be distributed to the owners of the organization. In general, the business profit is going to be distributed in three ways as corporate profits taxes, corporate profits and dividends. According to commercial law, portion of the business profit would be charged as taxes and collected by Inland Revenue Board to finance the operation of government. Whereby, part of the business profit will be distributed to business owners or shareholders in the form of dividend in accordance to the percentage of ownership or shares own by them. The dividend will be given annually, for every six months or for every quarter depending on the practice of the organization. Whereas, the remaining undistributed profit will be classify as retained earnings. The retained earnings will neither be paid as company tax nor be paid to shareholders as dividends. Indeed, they are the income earned but not received by shareholders.
 
On the other way round, there is no practice of profit distribution occur in any nonprofit organization. This is because the profit earned by nonprofit organization is not subjected to any person and therefore will not be distributed instead of retransfer back to the organizations. These profits are then being used to pay for the operating expenses incur for the organizations like salary of employees, utilities and other administrative expenses. As mentioned by Glaser (2003), nonprofit organization cannot disburse profits to its members either board of director or employees as this constraint prevent nonprofit organization to cheat on customers and workers. It is very important that all funds raised by nonprofit organizations remain in the organization. This is because nonprofit organization only acts as the agent to help in managing the public money for welfare purpose. All the funds are needed for accomplishing the specific organizations’ objectives to meet society’s needs rather than for other purposes.
 
1.6人力资源管理—— Human Resource Management
 
Employees are essential asset for all organizations and are categorized as organization’s human capital. Employees help in running organization’s daily operation, improving organization’s efficiency, promoting organization’s growth and development and achieving organization’s success. Hence, it is very important for organization to hire good and suitable employees to the organization. However, in current situation, both profit and nonprofit organizations are dealing with pressure in hiring diverse employees. Profit organizations usually found to be easier in recruiting employees. This is because profit organizations would normally have sufficient resources to attract talent people to work for them. They can afford to pay high salaries, bonuses and offer other benefits to employees like equity in the companies, authority and other monetary and non-monetary benefits.
 
On the other hand, in current funding environment, nonprofits are especially hard pressed to fund operating expenses. In order to maximize the usage of fund for social welfare, nonprofit organizations are required to minimize their operating cost. Therefore, nonprofit organizations are very difficult to afford to attract employees through monetary incentives. Therefore, with limited resources, nonprofit organizations cannot attract and retain employees easily. Furthermore, nonprofit organizations do not have shares and thus unable to offer share option to their employees. Hence, most of the employees in nonprofit organizations are the people who have passion and willing in helping and serving the nations. They work for their inspiration instead of money return. However, in reality, it is very difficult to search for these volunteer to work in the nonprofit organization.
 
1.7 会计处理——Accounting Treatment
 
1.7.1 税务——Tax
 
Profit organizations are registered as the business entity and required to pay taxes on their net income from business. Different types of organizations are subjected to different kind of tax and tax rates. For instance, owners of sole proprietorship and partnership are subject to personal tax instead of corporate tax for owners of companies. On the other hand, nonprofit organizations have tax privileges (Glaeser, 2003). Nonprofit organization may be exempted from tax if the nonprofit organizations’ objectives are to promote social welfare. Government would intend to help those nonprofit organizations to minimize their costs through tax exemption. Therefore, donations given to nonprofit organizations are tax deductible (Glaeser, 2003). This is because government hopes that by doing so, nonprofit organizations would free from tax burden (Glaeser, 2003) and have more funds to be allocated to activities for the social welfare and helping the country to serve and develop the nations. However, nonprofit organizations will still being assessed for taxes for those that are not in the main organizations’ scope such as real estate tax and sales tax. Different in tax treatment for profit and nonprofit organizations have led to different accounting treatments for these two organizations. Furthermore, these tax benefits are at the heart of nonprofit status and these tax deductibility allows nonprofit organizations owes its strength and to be more compatible (Glaeser, 2003).
 
1.7.2资产负债表—— Balance Sheet
 
Every registered organization in Malaysia is required by regulations to prepare balance sheet at least once in a year. A balance sheet is a summary of an organization’s accounts. It consists of assets (everything owned by organization), liabilities (everything owed by organization to others) and equity (everything owed to shareholders include both common and preferred stock). Balance sheet provides an overview to the statement users on the organization’s financial position. Nonprofit organizations do not use balance sheet instead they are using “statement of financial position” in which current FRS has also required all the companies to change the term from balance sheet to statement of financial position in their annual report. Nonprofit organizations’ statement of financial position is only emphasized on the assets and liabilities of the organizations. As there are no owners, the statement of financial position of nonprofit organizations does not include equity part.
 
1.7.3 损益表——Income Statement
 
Beside balance sheet, profit organizations are also required to prepare income statement yearly. An income statement consists of organization’s revenues, expenses, profits and losses. Income statement allows statement users to understand the financial performance of an organization on how the organization generates income and manages the operation and administration cost. The profit organizations’ value and share price will be affected by the result of assessment on income statement. On the other way round, nonprofit organizations do not produce income statement. Nonprofit organizations prepare a statement of activities for each quarter that shows the organization’s revenue, expenses, plus net asset.


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