Disclosure of tax information -from tax reporting system to the financial statements, Case: Fortum Oyj

The main target of the study was to examine how Fortum’s tax reporting system could be developed in a way that it collects required information which is also easily transferable to the financial statements. This included examining disclosure requirements for income taxes under IFRS and US GAAP. By benchmarking some Finnish, European and US companies the purpose was to get perspective in what extend they present their tax information in their financial statements. Also material weakness, its existence, was under examination. The research method was qualitative, descriptive and normative. The research material included articles and literature of the tax reporting and standards relating to it. The interviews made had a notable significance. The study pointed out that Fortum’s tax reporting is in good shape and it does not require big changes. The biggest renewal of the tax reporting system is that there is only one model for all Fortum’s companies. It is also more automated, quicker, and more efficient and it reminds more the notes in its shape. In addition it has more internal controls to improve quality and efficiency of the reporting process.

Ultra-high Field (7 T) MRI and a Novel Robust Segmentation of Thalamic Nuclei on DWI for Gamma Knife Surgery Purposes: The Targeting of the Ventrointermediate Nucleus

Introduction: Gamma Knife surgery (GKS) is a noninvasive neurosurgical stereotactic procedure, increasingly used as an alternative to open functional procedures. This includes the targeting of the ventrointermediate nucleus of the thalamus (e.g., Vim) for tremor. Objective: To enhance anatomic imaging for Vim GKS using high-field (7 T) MRI and Diffusion Weighted Imaging (DWI). Methods: Five young healthy subjects and two patients were scanned both on 3 and 7 T MRI. The protocol was the same in all cases, and included: T1-weighted (T1w) and DWI at 3T; susceptibility weighted images (SWI) at 7T for the visualization of thalamic subparts. SWI was further integrated into the Gamma Plan Software® (LGP, Elekta Instruments, AB, Sweden) and co-registered with 3T images. A simulation of targeting of the Vim was done using the quadrilatere of Guyot. Furthermore, a correlation with the position of the found target on SWI and also on DWI (after clustering of the different thalamic nuclei) was performed. Results: For the 5 healthy subjects, there was a good correlation between the position of the Vim on SWI, DWI and the GKS targeting. For the patients, on the pretherapeutic acquisitions, SWI helped in positioning the target. For posttherapeutic sequences, SWI supposed position of the Vim matched the corresponding contrast enhancement seen at follow-up MRI. Additionally, on the patient's follow-up T1w images, we could observe a small area of contrast-enhancement corresponding to the target used in GKS (e.g., Vim), which belongs to the Ventral-Lateral-Ventral (VLV) nuclei group. Our clustering method resulted in seven thalamic groups. Conclusion: The use of SWI provided us with a superior resolution and an improved image contrast within the central gray matter, enabling us to directly visualize the Vim. We additionally propose a novel robust method for segmenting the thalamus in seven anatomical groups based on DWI. The localization of the GKS target on the follow-up T1w images, as well as the position of the Vim on 7 T, have been used as a gold standard for the validation of VLV cluster's emplacement. The contrast enhancement corresponding to the targeted area was always localized inside the expected cluster, providing strong evidence of the VLV segmentation accuracy. The anatomical correlation between the direct visualization on 7T and the current targeting methods on 3T (e.g., quadrilatere of Guyot, histological atlases, DWI) seems to show a very good anatomical matching.

Development of a systematic computer vision-based method to analyse and compare images of false identity documents for forensic intelligence purposes-Part I: acquisition, calibration and validation issues

Following their detection and seizure by police and border guard authorities, false identity and travel documents are usually scanned, producing digital images. This research investigates the potential of these images to classify false identity documents, highlight links between documents produced by a same modus operandi or same source, and thus support forensic intelligence efforts. Inspired by previous research work about digital images of Ecstasy tablets, a systematic and complete method has been developed to acquire, collect, process and compare images of false identity documents. This first part of the article highlights the critical steps of the method and the development of a prototype that processes regions of interest extracted from images. Acquisition conditions have been fine-tuned in order to optimise reproducibility and comparability of images. Different filters and comparison metrics have been evaluated and the performance of the method has been assessed using two calibration and validation sets of documents, made up of 101 Italian driving licenses and 96 Portuguese passports seized in Switzerland, among which some were known to come from common sources. Results indicate that the use of Hue and Edge filters or their combination to extract profiles from images, and then the comparison of profiles with a Canberra distance-based metric provides the most accurate classification of documents. The method appears also to be quick, efficient and inexpensive. It can be easily operated from remote locations and shared amongst different organisations, which makes it very convenient for future operational applications. The method could serve as a first fast triage method that may help target more resource-intensive profiling methods (based on a visual, physical or chemical examination of documents for instance). Its contribution to forensic intelligence and its application to several sets of false identity documents seized by police and border guards will be developed in a forthcoming article (part II).

Incumbent audit firm-provided tax services and the clients with low financial reporting quality

This study investigates whether incumbent audit firm-provided tax services enhance or impair the likelihood of acknowledging client companies’ low financial reporting quality. In particular, we examine the association between tax-related fees and the likelihood of timely restatements, and internal control weakness disclosures among a sample of US companies that all have misstatements in financial information. The empirical findings indicate that companies paying higher tax-related fees are less likely to disclose SOX 404 internal control weakness disclosures, implying that underlying control problems are unacknowledged when incumbent audit firm provided tax-related fees are higher. However, the findings suggest that just providing both audit and tax-related services does not have an impact on audit quality per se, but rather it is the magnitude of the tax-related fees in particular that counts. We also find some evidence suggesting that companies paying higher tax-related fees have higher likelihood of restatement lags, whereas companies paying smaller tax-related fees to their audit firm restate financial statements in a timelier manner. Overall, the findings suggest that audit scrutiny of client companies with low quality financial reporting is weaker when the magnitude of tax-related fees is higher.

Use of nuclear technique in samples for agricultural purposes

The concern related to environment is growing. Due to this, it is needed to determine chemical elements in a large range of concentration. The neutron activation technique (NAA) determines the elemental composition by the measurement of artificial radioactivity in a sample that was submitted to a neutron flux. NAA is a sensitive and accurate technique with low detection limits. An example of application of NAA was the measurement of concentrations of rare earth elements (REE) in waste samples of phosphogypsum (PG) and cerrado soil samples (clayey and sandy soils). Additionally, a soil reference material of the International Atomic Energy Agency (IAEA) was also analyzed. The REE concentration in PG samples was two times higher than those found in national fertilizers, (total of 4,000 mg kg-1 ), 154 times greater than the values found in the sandy soil (26 mg kg-1 ) and 14 times greater than the in clayey soil (280 mg kg-1 ). The experimental results for the reference material were inside the uncertainty of the certified values pointing out the accuracy of the method (95%). The determination of La, Ce, Pr, Nd, Pm, Sm, Eu, Tb, Dy, Ho, Er, Tm, Yb and Lu in the samples and reference material confirmed the versatility of the technique on REE determination in soil and phosphogypsum samples that are matrices for agricultural interest.

Henkilöyhtiön myynnin verotus

Yrityskauppa on yksi vaikeimmista kauppamuodoista. Verotuksella on suuri rooli yrityskaupan suunnittelussa ja toteutuksessa. Tutkimuksessa on vertailtu henkilöyhtiön myynnin eri vaihtoehtoja. Vertailuja on tehty erityisesti verotuksen kannalta. Tutkimuksen tavoitteena on ollut selvittää henkilöyhtiön myynnin verotukselliset seuraamukset. Tutkimuksessa tehtiin verolaskelmia eri vaihtoehdoille ja tutkittiin myös, vaikuttaako yhtiömuodon muutos verotuksen määrään. Tutkimuksen kohteena oli avoin yritys, jonka tiedot toimivat esimerkkinä verolaskelmille. Tutkimusongelmien ratkaisemiseksi tutkimuksessa on perehdytty koh-deyrityksen tilinpäätökseen ja vallitseviin verolakeihin. Näiden avulla on laskettu kokonaisverorasitus myynnin eri vaihtoehdoille. Tutkimuksessa on oletettu, että omistajat ottavat yrityksen myynnistä saadun voiton kokonaisuudessaan heti käyttöön. Lisäksi on tutkittu, miten verotus muuttuu myyntihinnan kasvaessa. Tutkimusten tulosten perusteella todetaan omistuskaupan olevan verotuksen kannalta liiketoimintakauppaa edullisempi vaihtoehto. Yrityksen myyntihinnan kasvaessa havaitaan omistuskaupan olevan aina edullisempi vaihtoehto. Henkilöyhtiön yhtiömuotoa ei kannata muuttaa osakeyhtiöksi verotuksen näkökulmasta, varsinkaan liiketoimintakaupassa.

Effects of a Financial Transaction Tax - Do Transaction Costs Lower Volatility?: A Literature Review

In this literature review the theorethical framework of Financial transaction taxes and their assumed effect on market volatility is assessed. The empirical evidence from various studies is compared against the theory and a simple empirical review of the Finnish stock market is conducted. The findings implicate that financial transaction taxes can not reduce volatility and their actual effect on markets is dependend by many other factors as well. Some evidence even suggests that transactions taxes may actually raise volatility.

Communicative Purposes of Press Releases Announcing Reduction in Workforce

Tämä tutkielma käsittelee kaupallisten yhtiöiden julkaisemia lehdistötiedotteita, joissa ilmoitetaan henkilöstövähennyksistä. Erityisenä tutkimuskohteena ovat lehdistötiedotteiden informatiiviset ja promotionaaliset päämäärät ja tarkoitukset sekä näiden päämäärien ja tarkoitusten ilmentyminen tekstin retorisen rakenteen, valittujen retoristen strategioiden sekä leksikaalisten ja kieliopillisten valintojen kautta. Tutkimuksen aineisto koostuu 50 englanninkielisestä lehdistötiedotteesta, jotka sisältävät ilmoituksen henkilöstövähennyksistä. Lehdistötiedotteet kerättiin yritysten verkkosivuilta. Tutkimuksen teoreettisena viitekehityksenä toimivat soveltavan kielentutkimuksen alalla erityisesti ammattikielentutkimuksessa (ESP, English for Specific Purposes) laajalti käytetty Swalesin (1990) tekstilajia (genre) koskeva määritelmää ja Bhatian (1993) kehittämä geneerisen analyysin malli. Ennen aineiston kielitieteellistä analysointia tutkimuksessa perehdyttiin Bhatian (1993) mallin mukaisesti lehdistötiedotteiden historiaan, kohdeyleisöihin, diskurssiyhteisöön ja sen tuottamiin muihin tekstilajeihin, aikaisempiin lehdistotiedotteita käsitteleviin kielitieteellisiin tutkimuksiin sekä erityisesti yritysten henkilövähennyksiin liittyvään tilannekontekstiin. Kielitieteellisessä analyysissä tutkittavista teksteistä tunnistettiin kahdeksan retorista vaihetta (move), jotka olivat tyypillisiä tutkituille teksteille. Kunkin retorisen vaiheen yksittäiset ilmentymät koottiin yhteen erillisiksi aineistoiksi, joista pyrittiin tunnistamaan kullekin vaiheelle tyypilliset retoriset strategiat sekä toistuvat leksikaaliset ja kieliopilliset valinnat. Tutkimuksessa todettiin, että vaikka tutkittujen lehdistötiedotteiden pääasiallinen tarkoitus oli yhtiön toiminnasta tiedottaminen, niillä oli myös promotionaalinen päämäärä, joka ilmeni mm. pyrkimyksenä välittää yhtiöstä mahdollisimman positiivinen kuva eri kohdeyleisöille, erityisesti sijoittajille. Tämän positiivisen kuvan välittämiseen käytettyjä keinoja olivat mm. odotettavissa olevien saavutusten korostaminen, ulkoisten tekijöiden nimeäminen nykyisen tilanteen aiheuttajaksi, passiivin käyttö sekä erilaiset yrityksen julkisen kuvan säilyttämiseen pyrkivät (face-saving) strategiat.

In vivo fluctuation of Tax, Foxp3, CTLA-4, and GITR mRNA expression in CD4+CD25+ T cells of patients with human T-lymphotropic virus type 1-associated myelopathy

HTLV-1 Tax expression exerts an inhibitory effect on the Foxp3 transcription factor in CD4+CD25+ T-regulatory cells (Treg). For a better understanding of the role of Tax mRNA in the gene expression of cellular markers we measured Tax, Foxp3, CTLA-4, GITR, TGF-β, and IL-10 mRNA in Treg cells of 50 patients with human T-lymphotropic virus type 1 (HTLV-1)-associated myelopathy/tropical spastic paraparesis (HAM/TSP; 27 women and 23 men; mean age: 56.7 years). The control group consisted of 23 non-infected subjects (12 women and 11 men) with a mean age of 51.3 years. Real-time PCR was used to measure mRNA of Tax proteins and several cellular markers of Treg function. Determinations revealed a high level of Tax mRNA in HAM/TSP (124.35 copies/100 CD4+CD25+ T cells). Foxp3, GITR, and CTLA-4 mRNA levels were lower in HAM/TSP patients (mean ± SD, 22.07 ± 0.78, 9.63 ± 0.36, and 4.54 ± 0.39, respectively) than in non-infected controls (47.15 ± 12.94, 22.14 ± 1.91, and 21.07 ± 2.31). Both groups had similar levels of TGF-β and IL-10. An inverse relationship was found between Tax levels and Foxp3, CTLA-4, and GITR levels. Conversely, there was a direct correlation between levels of Foxp3, GITR, and CTLA-4. Disease severity and evolution time did not correlate with Tax or Foxp3 levels. The present results suggest that Tax and Foxp3 mRNA vary with the same degree of disease severity in HAM/TSP patients. Tax fluctuations may affect CTLA-4 and GITR expression via the Foxp3 pathway, causing virus-induced dysfunction of CD4+CD25+ T cells in HAM/TSP patients.

Optimization of PV and battery capacity for domestic purposes

The usage of PV batteries nowadays became more and more widely spread. Due to the fact that the efficiency of modern PV is rising every year the prevalence of this source of energy is increasing. As the source of the energy is sunlight, these batteries need to be complimented by storage capacitors which will store energy for future use. Nevertheless the less the calculation of demanded amount of energy according the load and capacity of a storage battery that will keep the end consumer in work during certain time still is not overviewed. In this thesis the overall system will be considered and there will be made economic calculations for configurations of such system that will depend from the load. Also the behavior of the system in different geographical and climate conditions that influence of the amount of energy produced will be overviewed.

An evaluation of the 2003 tax reform effort in Brazil

This paper provides an assessment of the tax-reform effort launched by the newly elected Lula government in 2003. It analyzes how the envisaged reform had to be changed and scaled down, in the wake of strong political resistance, after a failed attempt to develop a consensual proposal, fully supported by state-governors. The main effective changes are then evaluated. Challenges ahead are discussed at the end.

Fiscal policy and private investment: latin america in a comparative perspective

The main objective of the paper is to assess the impact of fiscal variables on private investment comparing some Latin-American economies to other advanced ones. For such purposes, the authors carry out an econometric analysis for the period 1990-2008. They make use of two dynamic panel models in which they group countries with similar characteristics and development levels. In one of them, they include Mexico, Brazil, Chile, Colombia and Uruguay; whereas in the second one the countries accounted for are the U.S., Canada, Spain, Korea, Ireland and Japan. They specify in both models an investment function using as arguments a wide range of variables, including those related with fiscal policy. From their results the authors infer that governments can, with higher spending, boost up the economy even when they finance spending with higher taxes. In Latin America, where income concentration is enormous, a proposal to boost up the economy through higher government expenditure financed with a progressive income tax, is even more justified.

A graphic explanation on how a tax on exports neutralizes the Dutch disease without costs to exporters

The adequate way of neutralizing the Dutch disease is the imposition of a variable tax on the export of the commodity that originates the disease. If such tax is equivalent to the "size" of the Dutch disease, it will shifts to the right its supply curve of the commodity in relation to the exchange rate, giving the existing domestic supply and the international demand, the exchange rate will depreciate at the value of the tax, and the equilibrium exchange rate will move from the "current" to the "industrial" equilibrium.