Accounting Wallets

Today, there are thousands of certificate programs that promise to land you aspiring careers. However, not all of these programs live up to the promise. With extensive research, we have found out the truth behind certificate programs. The research helped us to find the three best certificate programs that are available in todays world. Just keep reading to find more about them.

Accounting Technician Program

Accounting is a field that always has good career opportunities. In this slowed down economy, the demand for accounting technicians is very high. An accounting technician gets paid based on his/her ability and qualifications. Accounting technician training programs prepares the candidates to meet any challenge in the accounting world. Through these training programs, the candidates become certified accounting technicians, along with getting wide knowledge about receivable and payable, payroll procedures and tax laws, fixed assets, present value calculation for liabilities, cash-basis and bookkeeping. This enables them to command higher salaries than expected.

The Legal Field

The legal field is well known to be a never-ending source jobs. Paralegal jobs are the current attraction in the legal arena, due to an abundance of lawyers. There are many types of paralegal training programs that are available today. The traditional on-campus paralegal training and the quicker online paralegal training are the two primary options. There is a misconception among people that there is absolutely no need of paralegal training. They think that they just need to a law firm and become a paralegal. The fact is that the most paralegals are hired based on their knowledge and previous experience. The paralegal degree and training programs are an excellent means to get wide knowledge about legal activities. Becoming a paralegal is very easy today. The basic training requirements are good writing skills, some computer knowledge and a few management skills.

Administrative Assistant Training Program

Administrative assistants are needed everywhere, in every industry. Hence, the scope of career opportunities is wide too. The responsibilities of administrative assistants will vary across different companies. However, typing, filling forms and answering phone calls are the basic responsibilities of an administrative assistant. Though the clerical and office skills of the administrative assistants are often overlooked, the best administrative assistants can gain recognition by completing office tasks with the utmost efficiency. So where does this utmost efficiency come from? This is where the administrative assistant training programs come in handy. The important fact to be noted is that administrative assistants get paid based on their efficiency.

Choosing the Right Institution

When it comes to training programs, there are a lot of scams online. Therefore, its always good to do a little research about the institution before you join them. Always stick to the trusted and accredited training programs to avoid scams. Renowned training institutions like MTI College are excellent platforms of study and they offer great career assistance, as well.

The NAIC approved SSAP 10R, a revised, temporary replacement of the income tax standard under SSAP 10. The revised standard is effective for year-end 2009 and year-end and interim 2010.

The NAIC revised this standard in order to be more in line with the Statutory Statement of Concepts of conservatism and transparency. The revisions are considered a change in accounting principle and will be accounted for as a cumulative effect adjustment to unassigned surplus as of December 31, 2009. If applicable and elected by company, these changes will require significant alterations to the companys deferred tax calculation under statutory accounting.

The main differences as a result of SSAP 10R are the concept of GAAP valuation allowance, reversal and carryback periods, increase in surplus limitation and additional disclosures.

GAAP Valuation Allowance Concept –
The addition of the valuation allowance concept applies to all companies. As under FAS 109 for GAAP reporting, the Company must consider if their gross deferred tax assets (DTA) will more likely than not (greater than 50 percent chance) be able to be realized. This concept must now be applied under statutory prior to the admissibility calculations.

Admissibility Changes

The most significant changes under SSAP 10R in admissibility are the following:
Eligibility If the company is subject to Risk Based Capital (RBC) requirements or files a RBC report then they may be allowed additional admitted DTA if their RBC level is above the following thresholds laid out in the new paragraph 10.d:

1.The risk based capital trend test (if subject to risk-based capital trend test); or
2.If not subject to risk-based capital trend test, the maximum risk-based capital level where an action level could occur as a result of a trend test (i.e. 250% for life/fraternal and 300% for P&C/health).

Reversal/Carryback Periods If the company is subject to RBC and meets one of the above thresholds, they may elect to follow paragraph 10.e to calculate additional admitted DTA. The calculation under 10.e starts with the net DTA from original SSAP 10 less any valuation allowance. The reversal periods now correspond with the IRS tax loss carryback provisions, not to exceed three years, based on the tax character of the temporary difference. For example, life companies are allowed to carryback tax losses three years so a life company would follow a three year reversal under paragraph 10.e.i (increased from the current one year reversal). Whereas a non-life company would follow a two year reversal. Capital tax items would use a three year reversal period since that is consistent with the capital loss carryback provisions. For purposes of the realization calculation and the with and without test, a three year period would apply regardless of character of temporary differences but can still only apply as the law allows (i.e. capital loss cannot offset non-capital income).

Surplus Limitation Increased The DTA admitted under 10.e.ii is limited to 15% of adjusted statutory capital and surplus, an increase from 10% under 10.b.ii.

Disclosure
SSAP 10R also requires several additional disclosures for all companies, regardless of whether the additional DTA admissibility applies.
The following are some of the additional disclosures required:
DTA must now be broken out by gross, adjusted gross, admitted and non-admitted;
DTA and DTL shown by tax character;
Statement as to if the company has elected to admit DTAs under 10.e;
Increased amount and change in amount of admitted adjusted DTA as a result of 10.e, by tax character;
Amount of admitted DTA, by tax character, calculated under each 10.a, 10.b.i, 10.b.ii, 10.c, 10.e.ii.a, 10.e.ii.b and 10.e.iii and the risk-based capital level used to determine if the company meet the required threshold; and
Amount of admitted DTA, admitted assets, statutory surplus and total adjusted capital used in the RBC calculation resulting from the calculation under 10.a, 10.b and 10.c and the increased amount of DTA, admitted assets, and surplus resulting from use of 10.e, if any.