In certain countries, the tax rate applied to a company’s tax return reporting income depends upon whether the profits for the period are distributed or undistributed. Amounts are initially taxed at the higher rate, but a tax credit is received when the profits are distributed. Therefore, companies need to determine the rate (distributed vs. the undistributed tax rate).Global Multinational Corporation (Global) is a U.S. company that owns and operates 100% of a consolidated subsidiary in a foreign jurisdiction where income taxes are payable at a higher rate on undistributed profits than on distributed earnings. For the year ending December 31, Year 1, Global’s foreign subsidiaries taxable income is $150,000. Global’s foreign subsidiary also has net taxable temporary differences amounting to $50,000 for the year, thus creating the need for a deferred tax liability on the balance sheet. The tax rate on distributed profits is 40%, and the tax rate on undistributed profits is 50%; the difference results in a credit if profits are distributed in the future. At the date of the balance sheet, no distributions have been proposed or declared. On March 31, Year 2, Global’s foreign consolidated subsidiary distributes dividends of $75,000.Instructions:Obtain and review the accounting and related measurement guidance related to anticipated tax credits in IAS12, Income Taxes, and in Sections 25 and 30 of ASC740-10, Income Taxes-Overall. Document the relevant portions of the IFRS and US GAAP related to the accounting that Global must follow for the above series of transactions.Provide the required journal entries for both Year 1 and Year 2 under both the US GAAP and IFRS for each respective date where you are provided information in the above scenario. In your explanation for each journal entry, make sure you document the basis for each journal entry amount. In other words, how did you obtain the figures? In addition, provide a detailed explanation for each respective journal entry with the appropriate Reference(s) to IAS12 and ASC 740-10, respectively.Your Word document submission should be 3 pages in length (not including the required cover and references pages). Submissions in excess of 4 pages are permissible.Format your submission according to the APABe sure to discuss and reference concepts taken from the required and recommended readings and your own relevant research. You must include a minimum of three credible, academic, or professional references beyond the text or other course materials.

Debate: For IT security acquisitions (products or services), which is the most important of the three project management constraints:CostQualityScheduleChoose the constraint ("factor") that you believe should be prioritized when managing an IT acquisition project. Write a 3 to 5 paragraph briefing statement in which you identify and then defend your selection. Your statement should address the following items:1. Provide definitions for each of the constraints2. Identify your chosen constraint and provide a more detailed description of how this constraint impacts project management (what happens to the other two factors). For example, if you decide that cost is the most important factor, explain the tradeoffs you might need to make with respect to quality and schedule. Or, if you decide that quality is most important (e.g. correct implementation of security controls), explain how that might affect cost and schedule.3. Provide a closing summary of the importance of project management for IT acquisitions (with respect to the overall IT security program).Provide in-text citations and references for 3 or more authoritative sources. Put the reference list at the end of your article.