Name : Tan SiKai
Rank : SOLDIER 2nd Class
Birthdate : 10 April 1989
Birthplace: Singapore
Ethnicity : Chinese
Religion : Christianity
Gender : Male
Height : 167
Weight : 56
Values:
-Commitment
-Trust
-Truth
-Reason
Personality:
ISFJ (Jung Typology Test) - I-22%, S-1%, F-25%, J-33%
Explanation:
* slightly expressed introvert
* slightly expressed sensing personality
* moderately expressed feeling personality
* moderately expressed judging personality
Traits:
* Large, rich inner store of information which they gather about people
* Memory for details which are important to them
* In-tune with surroundings - sense of space and function
* Can be depended on to follow things through to completion
* Will work long and hard to see that jobs get done
* Stable, practical, down-to-earth - Dislike working with theory and abstract thought unnecessarily
* Dislike doing things which don't make sense to them
* Value security, tradition, and peaceful living
* Service-oriented: focused on what people need and want
* Kind and considerate
* Likely to put others' needs above their own
* Learn best with hands-on training
* Enjoy creating structure and order
* Take their responsibilities seriously
* Extremely uncomfortable with conflict and confrontation
Career-defining traits:
1) extremely interested and in-tune with how other people are feeling
2) enjoy creating structure and order, and are extremely good at it.
Ideally, the ISFJ will choose a career in which they can use their exceptional people-observation skills to determine what people
want or need, and then use their excellent organizational abilities to create a structured plan or environment for achieving what
people want.
Relationships:
+Committed
+Difficulty in leaving a relationship which is bad, or accepting that it's over
+Selfless
+Intimacy as a tangible way of strengthening their relationship bonds
+Warm
+Difficulty with conflict situations
+Dependable and affectionate lovers
Although two well-developed individuals of any type can enjoy a healthy relationship, the ISFJ's natural partner is the ESTP, or the ESFP. ISFJ's dominant function of Introverted Sensing is best matched with a partner whose dominant function is Extraverted Sensing.
More at:
ISFJ Profile or
Protrait of
an ISFJ
"To be a hero you got to have dreams... and honor" - Angeal
~A trip to NTU pt 2: After lesson~
Tuesday, 21 October 2008
So I had concluded my lesson.. drain the hell out of me.. so i'm in heaven now.. lolx..
I'm quite happy that i could still catch on some of the things said, despite army.. So the rumors are false, as I had proven it. Army degrades mind as much as the person allows the mind to be degraded.
After the lesson, Vino and I went to meet up with Xiu Wen. So much for her saying that she's in a rush.. She could still walk casually! Anyway we went to have dinner at the Executive Cafe. Sounds high-class? It is, for a school's standard. The place was basically empty when we entered. Looking at the prices of food, it was not much different from the foodcourts outside. Well Singaporean mindset I guess..
We were at a lost as to what to order. Then the waitress gave us this list of offers for the day. It was for the offers for LUNCH-time, so we were staring at it with a questioning look. After clarification, we got to know that the offer was still on. Inference: The cafe isn't doing that well..
Anyway the food wasn't too bad. The service was good, considering that we dun have to pay for it. No GST, no service charge.. Inference: NTU students are really thrifty, in school anyway..
Nothing much happened after that. For some reason, Xiu Wen and I were shacked out.. There proceeds meaningless conversation and actions, like Vino trying to tie a knot for Xiu Wen and I.. And Xiu Wen indicating that it is an honor to send her home.. Inference: I should send her home.. Observation: So Dorcas, talking about it being an honor to do things for them. I wonder if all girls are like that =.=
-End-
posted at : 14:38
~A trip to NTU pt.1 : FRS12~
If you haven guessed it, I crashed into NTU Accountancy lecture yesterday.. Hee..
The lecture was from 4.30pm-6.30pm, course FRS12 on income tax: Deferred tax. I went with my church friend, Vino.
That's all for the facts.
So I attended the lecture, in spite of my short hair which makes me stand out. Actually I felt normal, until Vino commented on it in the midst of the lecture. She was feeling very outta place and kept looking around, noticing people looking at her. I tried to keep her focus on the lecture so that she would not feel too much of those eyes, but well, some advice are hard to digest.
When I first entered the hall, after getting lost for a while (a norm for noobs like me..), it was like I went to this place for the iOCBC investment game just 2 years ago. All those memories.. Back to topic, Vino for some reason chose to sit somewhere in the middle. I tried to get her to understand the predicament of sitting there, but failed. So we sat, with her looking at the hall with the looks of a first-timer.. I kept thinking of our cover being blown..
There are a mix of people over there, judging by their dressing. Some wore as though they are from the work force (office dress), some wore like a poly student (casual). And they are chatty! It's just like a normal JC lecture where the lecturer had to settle the students down. So much for teachers saying that University lectures are conducted in a solemn manner, that all students know their place. All lies.. lol..
As the students fill in, there was this person whom I thought was the lecturer talking about this online feedback on the teaching system, which closes somewhere in Nov. Then the "lecturer" passed on the mike to the lecturer..
Something funny about the way the lecture is conducted: it has long introduction. The lecturer spent like 1h on the introduction alone! But it covered alot of content in it already. I guess the lecturer needs to go for a GP lesson on essay presentation again.. Ooops..
Maybe I'll just give a brief summary on the lesson:
FRS12 : Income TaxIntroduction:(Taxes always effects on income only..)
For Corporations there are 2 kind of taxes, Current Tax and Deferred Tax. Current Tax are taxes that are to be paid in the year for the year. Deferred Tax are taxes that are to be paid in the future year for the current year.
There are 2 principles that govern the application of deferred tax:
1) A
deferred tax liability/ assets
exist if the recovery of an asset or settlement of a liability will make
future tax payments larger/ smaller than they would if such recovery and settlement were to have no tax consequences.
2) The
effects of deferred tax are dealt with according to the
underlying transactions/ events.
Simply said:
1) You have a deferred tax when you settled everything and realise that there's a change in your tax payment. The first law is just used to recognise if you have deferred tax.
2) You open the account you used to do the transaction and calculate from there. The second law is just used to calculate the amount of deferred tax and how to present it in the accounts book.
(At this point it is good to note that all accounts book are closed year-on-year. However, tax policies may have it that tax payment are to be settle in a 2 year period. This creates the problem on how much to pay, how to present it on the books, which is what this topic is about.)
Recognition:As mentioned earlier, we use the 1st principle to ask ourselves if we have deferred tax. Lets use some examples to illustrate this principle.
1) I have a tax payable item in year 1, and the IRAS collect the taxes on year 1, I would have credit tax payable. In other words, no tax carried forward.
2) I have a tax payable item in year 1, but the IRAS collect the taxes on year 2, I would have deferred tax payable. In other words, tax carried forward.
3) I have a tax payable item in year 1, but IRAS collect the taxes on year 0 (the year before) and not going to collect it anytime soon, I would have deferred tax payable. In other words, tax carried forward.
4) I have a
non-tax payable item in year 1... (this is obvious..) ... No tax will be collected for whatever year for that item.
Before we ask ourselves if the deferred tax is a liability or an asset, we shall talk briefly about the concept of temporary difference.
Temporary difference (TD) occurs when there is a
difference in the
carrying amount of an item (a.k.a the market rate) and the
tax base of the item (a.k.a the declared rate to the IRAS). The reason it occur could be due to the difference in period between the date of tax payment and the realisation of other sources of asset/ liabilities. Some of its sources are the Balance Sheet items, Loss Carried Forward, and when there's a change in policy/ correction of error. (No need to know as I don't as well.. haha..)
So, when you have a positive TD, you have a taxable TD (TTD). It is then a liability, as you have to pay more. Conversely, if you have a negative TD, you have a deductible TD (DTD). It is then an asset, as IRAS will need to "pay" you back. (note from prof: IRAS seldom pay you back. The most would be to carry it forward a.k.a pay less in future)
Words aside, using "maths" instead:
1) For an Asset:
-Carrying Amt > Tax Base -> TTD => Deferred tax liability
-Carrying Amt <> DTD => Deferred tax asset
2) For a Liability:
-Carrying Amt > Tax Base -> DTD => Deferred tax asset
-Carrying Amt <> TTD => Deferred tax liability
(Liability is a cost, asset is a source of income, so the sign for the value of TD is different for each case.)
Some Eqn:
Carrying Amount- Tax Base = Temporary Difference
Temporary Difference X Tax Rate = Deferred Tax (Asset/ Liability)
Scenario:
Bought land at 10m in year 1, sold at 12m in year 2. Assume taxable and is an investment property/ PPE (dunno what's that.. doesnt matter anyway..). Tax rate at 20%.
So we have an asset of 10m (not a liability though we pay for it, cuz we can earn from it, in layman's term..). So we paid a tax in year 1. But we realise its value in year 2, but due to market forces, we earn a profit of 2m. So we owe IRAS..
Mathematically,
12-10= +2
2 X 20% = +0.4
Deferred tax liability of 0.4m
Using 1st principle instead,
We sold at 12m, but we paid our tax as it was 10m. We earn a profit of 2m, and so our tax bill increases by 0.4m. Hence we incurred a deferred tax liability of 0.4m.
(if the land isnt taxable...?)
Loss-Carried Forward:All our discussion assumes that we have the money to pay, but what if we incurred a loss on that year? Should we recognise our deferred tax and realise it?
In the context we work today in Singapore, companies are allowed to carry their loss to their year of profit, so that IRAS can tax on them. (keeping in mind that tax payable = tax base X tax rate, you cant expect IRAS to pay for your loss..)
It is then an accounting issue whether we should recognise the deferred tax in the year of loss or only when the asset/ liability is realised. The standard would be:
1) It is probable to have sufficient future profit -> Recognise in the year of loss.
2) It is not probable to have sufficient future profit -> Recognise in the year of realisation.
3) There is TTD (excess money from TD) -> Recognise to the extent of TTD
Change in Policy:-Use Retroactive method (I dunno how.. the lecturer spent only 3min on this.. or less.. zz..)
(tried wiki-ing it.. no results.. All I know is calculate the cumulative effect of the change..)
-If there is deferred tax effect, calculate and use the "after-tax cumulative effect" figures
-If there is no deferred tax effect, use cumulative effect figures only.
Measurement:Current tax: based on current tax rate
Deferred tax: based on future tax rate that have been enacted or substantially enacted.
The carrying amount of deferred tax asset should be reviews at the end of each balance sheet date.
No discounting of the amount of tax is allowed for deferred tax (cuz we dunno if we are paying in the discount window period.)
Presentation:
- Tax asset/ liability should be separated from other assets/ libilities.
- Deferred tax should be separated from current taxes
- Tax liability and tax asset may be off-set if, and only if: legal right, intention
- Tax expense in relation of profit from continuing operation should be presented in the face of P&L (Profit and Liabilities)
Disclosure:Real case:
Profit before tax (PBT) 500
Tax Rate 20%
Tax Payable 80-150
Reason? Items that are deducible, contributions given that are not tax deducible.
-End-
posted at : 12:13
~Cai HOng~
Friday, 10 October 2008
Maybe a little lyrics spice up the song.. dunno what i'm saying but anyway.. lyrics:
哪里有彩虹告诉我
Could you tell me where to find the rainbow?
能不能把我的愿望还给我
Could you return my hopes and dreams?
为什么天这么安静
Why is the sky being so silent?
所有云都跑到我这里
All of the clouds are filling the sky..
有没有口罩一个给我
Is there a mask for me?
释怀说了太多就成真不了
Saying too much just cant get things done.
也许时间是一种解药
Perhaps time can be a cure,
也是我现在正服下的毒药
yet its the very poison that's tearing me up.
看不见你的笑 我怎么睡得着
Without your smile how could I ever get to sleep?
你的身影这么近我却抱不到
Your presence's near yet so far from me.
没有地球太阳还是会绕
Without the earth, the sun will still cycle.
没有理由我也能自己走
Without reasons, I'm still moving on.
你要离开 我知道很简单
I know its easy for you to leave.
你说依赖 是我们的阻碍
You'd said that reliance was the problem we had.
就算放开 那能不能别没收我的爱
Even if we leave, could you not kept away my love?
当作我最后才明白
Just take it that I finally understand.
RAP
看不见你的笑
要我怎么睡得着
你的身影这么近我却抱不到
没有地球太阳开始环绕环绕
没有理由我也能自己走掉
是我说了太多就成真不了
也许时间是一种解药解药
也是我现在正服下的毒药
Watching the MV., feel like crying.. touches me.. I understood the feeling of lost.. but, my experience is a different kind of lost.. how i wish its of this kind instead..
Anyway..
Enjoy..
posted at : 23:49
~EmO~
Listening to Jay's song "Cai Hong", turned emo..
Curiously, this song describles how I see my heart deep inside.. I did many cover-ups, so that people around me wont be affected by it.. Maybe they aren't even bothered at all..
Also dunno what to say.. After all, my stories are all sad stories.. And army stories aplenty.. No one is particularly interested in my life anyway.. Even if I found it interesting, exciting even, I dont find any like-minded people around..
How to live life..?
Still waiting for my breakthrough.. For some sparkle of new hope..
posted at : 23:25
March 2007
