Organization Decision Making Process - 1052 Words

An organization continually makes decisions at all levels. Until the past decade, most organizations and their managers and employees operated in an information and knowledge fog, making decisions based on best guesses about the past and present, and making expensive errors in the process. Many have failed throughout the course trying to improve the decision making process, there are many ways that contribute to the failure. Organizations can easily miss the market, by not having the right intelligence, analysis, not acting on agreements, having inadequate capitalization or simply because the competitors are doing better job. Another crucial failure during the process is poor execution, when there is ineffective leadership, inefficient operations, and excessive costs. Not following the right strategies is another contributor of failure, not having the right products and services, ineffective marketing, utilizing outdated technologies and not adjusting to the frequent changes on the m arket in today’s competitive world. Nevertheless, several steps can guide us to making the right decision. The first is to declare a decision, recognize that an organization ought to make a decision, second is to decide what to make with that decision and finally execute the decision to create results and changes in the outcome of those decisions. There are four stages in the decision-making, intelligence, design, choice and implementation. All of these steps consist of discovering,Show MoreRelatedDecision Making Process Of An Organization1829 Words   |  8 Pagesassist the decision maker in speeding up the decision making process There are various heuristics or methods that can speed up the decision making process of an organizations or the decision maker for the company in a given framework. When the organization is working under the global market, the methods to speed up the decision making process is extremely important for the decision makers of the organizations. Defining the problems There can be two or more problems in an organization when it is workingRead MoreDecision Making Process Of The Theory Of Organization2038 Words   |  9 PagesDecision Making Decision making process is a way to get a final choice on achieving goals or solving problems among several alternatives. In classical theory of organization, it was believed that only top managers perform as the decision makers. It regards the employees as ‘instrument’ (March and Simon 1993). However, In Simon and March’s view (1993), employees are not just instrument, they are indeed rational people that think, act, and decide on their own in organizations. The decisions they madeRead MoreDecision Making Process For The Cleaning Supply Organization870 Words   |  4 Pagesaddress this issue head on and re-prioritize our decision making process to help improve sales. Listed below is a decision making model that will help the cleaning supply organization prioritize short and long term goals. This may seem like an ambitious process, but it is crucial to stop the negative sales trend. I believe many of these plans will prove beneficial to our team in the future. Decision making process for the cleaning supply organization 1) Define a short term sales strategy to stabilizeRead MoreDisruptive Innovation : An Organization s Decision Making Process2564 Words   |  11 Pagesare in a unique position amongst all health care workers. As the deliverer of the majority of care, nurses have more contact with consumers than many other professions. Nurse leaders have the opportunity to be central an organization’s decision making process. Additionally, nurses plan, implement and evaluate change at all levels. Innovation is one way to describe a type of change. This paper will explore how innovation, specifically disruptive innovation, can be the vehicle in which positiveRead MoreStrategic Planning : Mission Statement And Goals901 Words   |  4 PagesPlanning Process The purpose of strategic planning is to help position the organization to achieve a larger competitive fit in its environment in order to accomplish its goals (Plunkett, Allen, Attner, 2013). A strategic plan looks at everything an organization could accomplish and confines it to the things it is essentially good at doing and assists in deciding where to spend time, human capital, and money. There are several steps organizations should follow in the strategic planning process. TheRead MoreStrategic Planning1327 Words   |  6 Pagesfor one purpose only: to help an organization do a better job - to focus its energy, to ensure that members of the organization are working toward the same goals, to assess and adjust the organization s direction in response to a changing environment. Basically, strategic planning is a disciplined effort to produce fundamental decisions and actions that shape and guide what an organization is, what it does, and why it does it, with a focus on the future. The process is strategic because it involvesRead MoreDecision Making Is A Fundamental Component For Any Successful Business958 Words   |  4 PagesDecision-making is a fundamental component to any successful business. I chose the topic â€Å"Managerial Decision Making† because informed decisions are critical in order for managers to drive a profitable and sustainable business. Many business analysts measure an organization’s performance on their level of attained profit. The profits companies produce based on their business arrangements and profitable business deals, permit them to allocate benchmarks within the company to set financial goals forRead MoreEssay on Improving Our Ability to Make Decisions1716 Words   |  7 PagesDecision-Making Process: Improving Our Ability to Make Decision Facing a situation, you have to decide. For example, the fire surrounds you: What do you do? Jump through the windows and risk to kill yourself or to wait the firemen and risk to be burned to death if they come to late? Every decision that we make or don’t make shapes our future. Everyone tries to make good decisions. However, it is easy to overlook an important factor, miss a desirable option, or base the decision on unreliableRead MoreUsing Tools For Decision Making1447 Words   |  6 PagesUsing Tools for Decision Making Organizations and its employees have to make decisions on a daily basis. Regardless of the organizational level - from the CEO to the receptionist – at some point in their careers most employees are faced with an organizational or personal dilemma. Whether the situation is personal or professional, individuals should first identify the root cause of the dilemma as part of the decision-making process; verify the real problem before attempting to generate a solutionRead MoreEssay about Employee Empowerment in Flat Organizations616 Words   |  3 PagesEmployee Empowerment in Flat Organizations A flat organization is a culture of ownership and partnership, it is an organization that uses teams to increase efficiency, responsiveness and flexibility. The focus is on customer satisfaction, work is directly connected, to customer processes. Employees in a flat organization know the business, they have been delegated the power to think for the whole company. Flat organizations are giving lower management more responsibilities; they are

Short Story - 876 Words

What’s happening? Worriedly asked Iris as Barry’s head tilted to his right before his whole body was leaning forward in his chair. If that wasn’t enough to increase the woman’s uneasiness, Barry’s rapidly increasing breathing and the computer alarm that went off in the next moment, stopping Caitlin midway in her movement to open her mouth, did the trick and confirmed she had real reasons for her anxiety. Instantly reacting, while controlling her rising panic, the doctor stared straight at her computer screen, analyzing the data she had been monitoring: His brain waves are off the chart. She observed loudly before turning her attention to the two sitting men. Barry, it’s not real. Well, not yet. You need to calm down. ‘Come†¦show more content†¦Oh my God! Shouted Iris, putting her hand in front of her wide-open mouth. Her eyes fully opened with tears already burning in the corner of them. It wasn’t supposed to happen. They needed to do something. They needed to get him back, now! Perhaps if she†¦No time to think or overthink it. The reporter did the only thing her panic brain could come up with; disconnecting the speedster. He was fine before going in, he should be once he’s out. Reacting, without thinking, she reached out for the headset and took it off, but not without screaming out in surprise and pain as she was doing it. Ow. She exclaimed, bringing her shocked fingers to her mouth to try and ease the physical pain. Really? Just what she needed today. Not the time for electric malfunctions. Iris? Asked Caitlin in concern, yet barely glancing at the young woman before reporting all of her attention to her most urgent patient who wasn’t nearly done seizing. I’m ok. She assured, massaging her right hand. Burning and tickling sensation were all over the limb, but this could wait to be looked at. Barry, on the other hand, couldn’t wait. What about Cisco? Cisco, get out too! The young reporter screamed at the engineer, fearing the same fate was awaiting him. Bang! A loud sound brought back everyone’s attention to Barry asShow MoreRelatedshort story1018 Words   |  5 Pagesï » ¿Short Stories:  Ã‚  Characteristics †¢Short  - Can usually be read in one sitting. †¢Concise:  Ã‚  Information offered in the story is relevant to the tale being told.  Ã‚  This is unlike a novel, where the story can diverge from the main plot †¢Usually tries to leave behind a  single impression  or effect.  Ã‚  Usually, though not always built around one character, place, idea, or act. †¢Because they are concise, writers depend on the reader bringing  personal experiences  and  prior knowledge  to the story. Four MajorRead MoreThe Short Stories Ideas For Writing A Short Story Essay1097 Words   |  5 Pageswriting a short story. Many a time, writers run out of these short story ideas upon exhausting their sources of short story ideas. If you are one of these writers, who have run out of short story ideas, and the deadline you have for coming up with a short story is running out, the short story writing prompts below will surely help you. Additionally, if you are being tormented by the blank Microsoft Word document staring at you because you are not able to come up with the best short story idea, youRead MoreShort Story1804 Words   |  8 PagesShort story: Definition and History. A  short story  like any other term does not have only one definition, it has many definitions, but all of them are similar in a general idea. According to The World Book Encyclopedia (1994, Vol. 12, L-354), â€Å"the short story is a short work of fiction that usually centers around a single incident. Because of its shorter length, the characters and situations are fewer and less complicated than those of a novel.† In the Cambridge Advanced Learner’s DictionaryRead MoreShort Stories648 Words   |  3 Pageswhat the title to the short story is. The short story theme I am going conduct on is â€Å"The Secret Life of Walter Mitty’ by James Thurber (1973). In this short story the literary elements being used is plot and symbols and the theme being full of distractions and disruption. The narrator is giving a third person point of view in sharing the thoughts of the characters. Walter Mitty the daydreamer is very humorous in the different plots of his dr ifting off. In the start of the story the plot, symbols,Read MoreShort Stories1125 Words   |  5 PagesThe themes of short stories are often relevant to real life? To what extent do you agree with this view? In the short stories â€Å"Miss Brill† and â€Å"Frau Brechenmacher attends a wedding† written by Katherine Mansfield, the themes which are relevant to real life in Miss Brill are isolation and appearance versus reality. Likewise Frau Brechenmacher suffers through isolation throughout the story and also male dominance is one of the major themes that are highlighted in the story. These themes areRead MoreShort Story and People1473 Words   |  6 Pagesï » ¿Title: Story Of An Hour Author: Kate Chopin I. On The Elements / Literary Concepts The short story Story Of An Hour is all about the series of emotions that the protagonist, Mrs. Mallard showed to the readers. With the kind of plot of this short story, it actually refers to the moments that Mrs. Mallard knew that all this time, her husband was alive. For the symbol, I like the title of this short story because it actually symbolizes the time where Mrs. Mallard died with joy. And with thatRead MoreShort Story Essay1294 Words   |  6 PagesA short story concentrates on creating a single dynamic effect and is limited in character and situation. It is a language of maximum yet economical effect. Every word must do a job, sometimes several jobs. Short stories are filled with numerous language and sound devices. These language and sound devices create a stronger image of the scenario or the characters within the text, which contribute to the overall pre-designed effect.As it is shown in the metaphor lipstick bleeding gently in CinnamonRead MoreRacism in the Short Stor ies1837 Words   |  7 PagesOften we read stories that tell stories of mixing the grouping may not always be what is legal or what people consider moral at the time. The things that you can learn from someone who is not like you is amazing if people took the time to consider this before judging someone the world as we know it would be a completely different place. The notion to overlook someone because they are not the same race, gender, creed, religion seems to be the way of the world for a long time. Racism is so prevalentRead MoreThe Idol Short Story1728 Words   |  7 PagesThe short stories â€Å"The Idol† by Adolfo Bioy Casares and â€Å"Axolotl† by Julio Cortà ¡zar address the notion of obsession, and the resulting harm that can come from it. Like all addictions, obsession makes one feel overwhelmed, as a single thought comes to continuously intruding our mind, causing the individual to not be able to ignore these thoughts. In â€Å"Axolotl†, the narr ator is drawn upon the axolotls at the Jardin des Plantes aquarium and his fascination towards the axolotls becomes an obsession. InRead MoreGothic Short Story1447 Words   |  6 Pages The End. In the short story, â€Å"Emma Barrett,† the reader follows a search party group searching for a missing girl named Emma deep in a forest in Oregon. The story follows through first person narration by a group member named Holden. This story would be considered a gothic short story because of its use of setting, theme, symbolism, and literary devices used to portray the horror of a missing six-year-old girl. Plot is the literal chronological development of the story, the sequence of events

Predictive Modeling Decision Tree Free Essays

Predict ‘kicks’ or bad purchases using Carvana – Cleaned and Sampled. jmp file. Create a validation data set with 50% of the data. We will write a custom essay sample on Predictive Modeling Decision Tree or any similar topic only for you Order Now Use Decision Tree, Regression and Neural Network approached for building predictive models. Perform a comparative analysis of the three competing models on validation data set. Write down your final conclusions on which model performs the best, what is the best cut-off to use, and what is the ‘value-added’ from conducting predictive modeling? Upload the saved file with the assignment. I created 6 models for this project, which are DT1, DT2, Reg1, Reg2, Reg3, and NN. After testing, the parameters I used to predict â€Å"IsBadBuy† in all my models are: PurchDate, Auction, VehicleAge, Transmission, WheelType, VehOdo, All â€Å"MMRs†, VehBCost, IsOnlineSale, and WarrantyCost. Those parameters together can help me get better models (i. e. ROC Area 0. 7) I used the cut-off of 0. 6, because after trying out other cut-offs such as 0. 5, 0. 7, and 0. , the results were either â€Å"I’m eliminating too many Good Buys†, or â€Å"I’m accepting too many Bad Buys†. As we know, both of the situations will affect the business (i. e. if we want stronger confident of the model, we will have too many 0s in the result, which means we may accept more Bad Buys in accident). Finally, I decided to use 0. 6 as my cut-off to balance the situation. The best model I chose is Reg2 (Forward regression model). I have two reasons: First, Reg2 has the largest ROC Area in the Logistic Fit compression (Saved as â€Å"Lodistic1~6†), which is 0. 478; Second, it has a relatively low (the second smallest) number in the FalseNegative box from the Contingency Table among all models. For my second reason, I didn’t use overall accuracy because I think the FalseNegative will damage the business more than FalsePossitive does. Because accidentally having a BadBuy will cost the company to do all require and fix job. For the Value-added calculation, as we can see in the Contingency tables (Saved as â€Å"Contingency 1~6†), the Baseline Accuracy is 49. 89. The accuracy of Reg2 is 82. 49. So the Reg2 provides the lift value of 82. 49/49. 89 = 1. 653. How to cite Predictive Modeling Decision Tree, Essay examples

Petroleum Resource Rent Tax In Australia †MyAssignmenthelp.com

Question: Discuss about the Petroleum Resource Rent Tax In Australia. Answer: Introduction There has been a tax sink hole as the gas multinational fuel companies that exploit LNG in Australia have claimed fifty billion dollars more in relief in one year (Aston, 2017). By building up an additional $51 billion in tax in credits, these MNCs have further delayed any reasonable royalty payment from the enormous export industry in Australia. This means that these energy giants evade payment of their share of tax unethically. This is because the Australian Tax Office submitted a review of the PRRT to Treasurer Scott Morrison that demonstrated that the combined tax credits/carry forward expenditure of the LNG industry surged to $238 billion in the trading period 2015-16, having shot up by $51 billion from $187 billion the past year. This was equivalent to $138 million per day increase over twelve months. The MNCs have taken a relief in the industrys war chest of the tax credits thereby unethically shielding themselves (Chevron, and Shell) from any meaningful PRRTs contribution in its lifetime. This is quite shocking since PRRT is the solely royalty-kind payment that the big LNG projects such as Chevron-, Shell- and Exxon-owned Gorgon must pay in exchange of the billions of dollars in Australian gas extracted and exported to Asia by these MNCs. Thus, evading this tax unethically by failing to disclose information as required is indeed shocking and deprives Australia of the huge dollars in terms of royalty that in fact rightfully belongs to its economy (Smith, 2013). The LNG MNCs solely declared taxable profits of 2.10 billion dollars in the trading year 2015-16. The PRRT stood at forty percent of the taxable profit subsequent to deductible capital alongside exploration expenditure written off against the assessable receipts. Due to the high uplift rates for the deductions compounding over life of projects, certain gas projects might never pay PRRT. There is a need for future projects to evade extremely high uplift rates for carrying forward such deductions into the future years where profits are stronger since currently, these rates are as high as long-term bond rate in addition to 15% points (Aston, 2017). It is against this backdrop that this paper seeks to probe and present a detailed critical evaluation of theaccounting and ethical issues referred to in the Aston (2017) article based on two perspective in relation to Petroleum Rent Tax (PRRT). The evaluation undertakes a comprehensive comparison of the insights from each theory (perspective) and outlines the different impacts on the preparers, users, regulators and the public. Approach to the Research Project To critically evaluate and submit a comprehensive evaluation report on theaccounting and ethical issues referred to by Heath (2007), this paper uses two theories (progressive income tax theory and regressive income tax theory) with respect to PRRT. The evaluation is anchored on a detailed comparison of the insights from each of above income tax theories and highlighting the different impacts of such insights on the financial statement preparers, users, regulators and the public (Mintz Chen, 2012). The paper undertakes a systematic critical review of the articles relating to the above two opposing income tax theories and the AASB 112 Income Taxes to understand the interpretation of the Australian PRRT. This follows the appreciation that the RRRT can only be interpreted within the scope of Accounting Standards AASB 112 Income Taxes. The interpretation 1003 of the Australian PRRT will help in understanding both accounting and ethical issues highlighted by Heath (2007). Both Accounting Standard AASB 112 Income Taxes andAccounting Standard AASB 108 Accounting Policies, Changes inAccounting Estimates and Errors will form key references in this evaluation. The PRRT Assessment Act 1987 will also help in understanding the calculations of the taxable profits. Thus, Australian PRRT will be interpreted in this report as an income tax within AASB 112 scope and hence the MNCs must recognize, measure and present it in accordance with AASB 112. This interpretation will thus apply to: each firm which is required to prepare financial reports in accordance with Part 2M.3 of the Corporation Act 2001 and which is a reporting entry. It will also be applicable to the general purpose financial statement of each other reporting firm; and applies to all financial statement which are, or are held out to be, general purpose financial sta tements. Analysis and Theoretical/Conceptual Application From the Heath (2017), following accounting and ethical issues come out clear. First, in determining the Australian PPRT taxable profit, it is clear that the MNCS did not adhere to the AASB 112 requirements that dictate that PRRT be assessed based on petroleum projects, and subsequently levied at the rate of forty percent on taxable profit of the project. The MNCs did not calculate the taxable profit for the PRRT purposes as the excess of assessable receipts over sum of; (a) the eligible spending incurred, (b) un-deducted/carried forward spending which are compounded yearly at the uplift rate constituting the long-run bond rate plus fifteen percent for exploration spending or in addition to five percent for project operating and development expenditure; and (c) un-deducted exploration spending which is compounded at uplift rate which is transferred from other projects the taxpayer is involved in or, where the taxpayer is a company in a wholly-possessed group, from additional projects within group. The MNCs did not adhere to the provision that requires such non-deductible expenditures as private override royalty payments and income tax. Also, the MNCs did not adhere to the requirements that PRRT be paid in quarterly installments. The requirements for the PRRT payments as deductibles were not adhered to during the determination of taxable income within the confinement of Income Tax Assessment Act 1997. The MNCs unethically failed to apply all the requirements of the AASB 112 that are all applicable to Australian PRRT including such requirements linked to definition, recognition, measurement, presentation, as well as disclosure of the current alongside deferred tax associated with Australian PRRT (Kraal, 2016). This is why the MNCs also reported a mere 2.1 billion dollars as the taxable profit in the disguise of information asymmetry between them and the government, public, users and regulators to deprive the country payment of the correct royalty. Theoretical/Conceptual Application PRRT is the profit-oriented tax levied on petroleum project and has been subsequently applied from 2012, 1 July to include all Australian onshore as well as offshore oil alongside gas projects including the oil shale and coal seam gas projects of the North West Shelf. The PRRT history is traced from the enabling legislation, the PRRT Assessment Act 1987. The parliament passed the Act and became effective on January 15, 1988. PRRT applied to all offshore areas with exemption of Bass Strait and North West Shelf at that time. PRRT has gone through various amendment since introduction starting 1991 through July 1, 2012 when it was extended to onshore oil as well as gas projects including oil shale projects, coal seam gas projects of North West Shelf came into effect. From the above two opposing theories of income tax, it is clear that Australian is using a regressive tax approach that does not effectively capture the income tax (PRRT) as would otherwise be captured by progressive taxation. The resource rent is classically defined as the excess of total project lifetime value emerging from a deposit exploitation over sum of all costs of exploiting the resource including compensation of all factor inputs. The principle underlying the PRRT is to solely tax the rent and leave alone the investors required return to carry out the investment. In principle, however, this should never distort the decisions of investment, in so far as it need not change the pre-tax merits of the investment. In this regard, PRRT remains a neutral tax that can only be captured by progressive taxation. Based on the resource rent definition, a decline in risk linked to investors investment would, ipso facto, decrease the investors minimum required return to carry out the investment hence surging the potential of resource rent of the deposit. The resource rent taxation remains very topical and has enormously featured in deliberations of the resource tax policy in the 1970s. The renewed interest in resource rent taxation is the discourse over how best to share the spoils of recent extractive industries boom as the regressive taxation theorists have failed miserably in term of PRRT capture. Sharing of such spoils remains often marred with brinkmanship between the host economies and the industry, leading to a skyrocketed uncertainty and feasible limitations on investments in these resources in the longer run. The challenge that has to be addressed by the fiscal policy relates to the optimization of revenue from such heterogeneous resource endowment amidst the economic uncertainty without resorting to brinkmanship which always result from regressive income tax theory application to PRRT due to its fiscal rigidities. The fiscal flexibilities and employment of progressive taxes, avail a more orderly as well as predictable footing for effective-re-allocation of benefits between the host economy and the industry when economic conditions alter. The progressive taxations targeting resource rent must maximize the revenue from the resource by optimizing resource exploitation in general as well as optimizing rent available from each resource project. Various taxes have already been designed targeting resource rent capture with a range of extent of accuracy. The PRRT takes the case of a more accurate progressive taxes in relation to resource rent capture. The host country, Australia in the present case, has to balance such advantages against the fiscal risks linked with various kinds of taxes and resources required to guarantee effective PRRT administrations. Experience indicates that pure regressive PRRT could impose an unacceptable degree of fiscal risk on Australia-at best PRRT has been merged with other promising progressive tax instruments. The emerging issues in PRRT application that cannot be effectively addressed by regressive taxation theorists include; can the required rate of return by the investor be arrived at reliably; what proportion of PRRT should be taxed; how should the government set the tax threshold and tax rates; will PRRT be creditable? PRRT further has a reputation for administrative complexities that could weigh against it when regressive taxation is used. A progressive PRRT is one amongst many available instruments for capturing resource rent. The effectiveness of PRRT relies on the revenue potential, fiscal risk as well as administrative costs linked to PRRT use. The advantage that progressive PRRT has over regressive as well as unsustainable fiscal regimes remains the ability to evade damaging brinkmanship. Discussion and Conclusions The experience of several host government with inclusion of Australian government in the latest periods has been that as MNCs earnings have substantially and dramatically grown, the Australian own revenue from these extractive MNCs industries has lagged well behind as well as declined as a percentage of general profitability (a declined fiscal take). The reason behind this, at least partially, is the Common features of such fiscal regimes designed during the 1980s and 1990s that were mainly regressive tax-based. Such Common features of fiscal regimes had included the low royalties as well as flat rate income taxation merged with generous allowances-investment uplifts and accelerated depreciation (Kraal, 2016). These governments have as well as offered tax holidays in depths of depression in mining sector, supported by agreements stabilization. In oil industry, volume prevalence instead of profit-oriented production sharing together with generous provision for cost recovery to entice investors, encompassed restrained government sharing in any escalation in price. These agreements have remained unsuitable to the altered economic conditions of the contemporary Australia. Australian government is aware that windfall taxes are currently on political agenda and hence their introduction would capture profits otherwise, an outcome which would be particularly difficult to accept. Given this backdrop, several host economies have been attempting to regressively tax windfalls of incumbents and imposing stringent entry terms for the new entrants. This has, however, been coupled with rising nationalization and deprival of direct access by private sector to valuable petroleum deposits. The Australian government and extractive MNCs or extractive industries must re-allocate benefits between them in absence of brinkmanship by adopting the progressive PRRT (Kraal, 2013). After all, variable rent potential alongside commodity price volatility have been known phenomena for a number years. What could the solutions be to this challenge? One can argue that better foresight anchored on regressive taxation would be panacea so that fiscal terms might be better tailored to technical as well as economic circumstances which shall prevail in the course of lifetime of resource project. In essence, this is what the Australian government and MNCs investors have attempted in particular project negotiation over the fiscal terms. Nevertheless, experience suggests that any such attempts of forecasting the complete array of feasible economic outcomes over a project lifetime remain fallible (Siu, Picciotto, Mintz Sawyerr, 2015). The Australia is often disadvantaged due to information asymmetry between the government and these MNCs in terms disclosure of taxable profits hence the outcome of dependence on forecasts is probably either in favor of MNCs or barring parties from arriving at a consensus. The fiscal flexibility need to be built into design of the fiscal regime up front in order that financial benefits are re-allocated on the agreed footing if and when the economic conditions alter. This will be favorable for both host economy and the MNCs and would bar the accounting and the ethical issues that have been recognized above including failure by MNCs to fully disclose the useful financial information on their profits as well as intentional delays of royalty payments. The government of Australia can provide this fiscal flexibility via the progressive taxation upon which the share of overall benefits are re-allocated progressively in favor of Australia as the host economy as the general value of benefits surges. Unfortunately, Australian government is still using a regressive fiscal regime which has allowed the MNCs to tax credits or carry forwards which is hurting the populace since there is no royalty payment at the moment despite by MNCs despite the doubling in MNCs profits but halved revenue to the government since 2013 (Kraal, 2012). The progressive taxation must, in principle, maximize the PRRT potential both by surging the resource deposits quantity exploited and uplifting rent availability from each. To control the above accounting and ethical issues or loopholes used by MNCs by manipulating the PRRT and subsequently evading through carry forwards and tax credits, the Australian government should never employ a tax framework whereby the tax rates surges as the function of the price only. The progressive ad-volorem taxation can be integrated since it has been successfully used in Qatar to bar MNCs from manipulating the PRRT. The price-oriented royalty/windfall PRRT ensure that movements of prices remain normally linked to alterations in profitability (Clausing Durst, 2015). This framework disregards the impacts of alterations in cost and output on profitability. There can be a surge in price, however, where unit costs have as well as surged, the generated profits on the pre-tax footing could have stood unchanged or declined and yet tax would still be payable at the hiked rate. Such an approach remains an inaccurate method of capturing resource rent that will culminate in distortion (Kraal Yapa, 2012). The government of Australian should accurately capture this resource rent by making the tax rates a function of the actually achieved profitability but ensure that there is full disclosure on the part of the MNCs. The Australian government need to use the most accurate method for capturing resource rent by directly linking tax rates to return on investment accomplished by the MNCs. In this regard, the government should adopts the Timo Lestes Supplemental Petroleum Tax which is typical progressive resource rent tax. In this structure, the tax base denotes the resource project; the threshold rate of return on investment (16.5%) at which the PRRT would be applicable; and a specified rate (22.5%) is applicable to net profits. Impacts on the Preparers, Users, Regulators and the Public Preparers: the use of ineffective regressive taxation theory by Australian government on PRRT has enabled them to manipulate PRRT through failure to disclose useful financial information on taxable profits and hence benefit their MNCs employers through failing to pay royalties via carry forwards and tax credits. Users; the users of financial information from these MNC have been shortchanged due to failure by the MNCs to disclose the useful financial information on their taxable profits by failing to comply with the AASB 112. Regulators: The regulators have been dealt a blow due to the information asymmetry between them and the MNCs leading to regulatory capture whereby the MNCs have captured the state through their PRRT manipulative actions like carry forwards and tax credits. Public: The have been shortchanged due to failure by the MNCs to delay the payment of their royalties as they capture and manipulate the regulators. Conclusion The identified accounting issues and ethical issues through the MNCs manipulation of the PRRT needs urgent attention. The government of Australia should change from regressive taxation to progressive taxation including the use of such alternative taxation as ad-volorem to help maximize the revenue while not hampering/distorting the investments by MNCs. References Aston, H. (February 13 2017). Tax sink hole: Gas multinationals claim $50 billion more in relief credits in a year . The Sydney Morning Herald, 1-2. https://www.smh.com.au/federal-politics/political-news/tax-sink-hole-gas-multinationals-claim-50-billion-more-in-relief-credits-in-a-year-20170213-gubmfv.html Clausing, K. A., Durst, M. C. (2015). A Price-Based Royalty Tax?. Kraal, D. (2012). Australia's Resource Rent Tax: The Multi-National Mining Industry Response. Kraal, D. (2013). A grounded theory approach to the minerals resource rent tax. Austl. Tax F., 28, 841. Kraal, D. (2016). Australias petroleum resource rent tax: Paul Keating, Peter Walsh and other game changers. Griffith Law Review, 25(4), 492-524. Kraal, D. (2016). The Petroleum Resource Rent Tax: Overview of primary documents and literature leading to the 1987 legislation. Browser Download This Paper. Kraal, D., Yapa, P. S. (2012). Resource rent taxes: the politics of legislation. Mintz, J., Chen, D. (2012). Capturing economic rents from resources through royalties and taxes. Siu, E. D., Picciotto, S., Mintz, J., Sawyerr, A. (2015). Unitary Taxation in the Extractive Industry Sector. Smith, J. L. (2013). Issues in extractive resource taxation: A review of research methods and models. Resources Policy, 38(3), 320-331.