More and More companies are pursuing conversion to a real estate investment trust (REIT). Those who are exploring the whole new world of REIT can find this post useful to start with. Here to go:
I. What is a REIT?
Is a tax designation for a company that invests in real estate that reduces or eliminates corporate income tax
In return, a REIT must distribute 90 percent of its taxable income to investors. The REIT structure was designed to provide a real estate investment structure similar to the structure that mutual funds provide for investment in stocks.
An entity that qualifies as a REIT under the Code is entitled to preferential tax treatment. It is a “pass-through” entity that can avoid most entity-level federal tax by complying with detailed restrictions on its ownership structure and operations.
REIT shareholders are taxed on dividends received from a REIT.
II. In layman language what is Meaning of REITs
This is collective investment device of commercial real estate
This is equity-type funding
This Owns, and in most cases operates, income-producing property (Equity REITs)
Retail (shopping centers)
This is Essentially a tax-tool where equity funding of real estate is allowed on tax transparent basis upto minimum 90% dividend
REITs are typically listed and quoted
III. The Four Requirements You Must Know!
A REIT must distribute 90% of its annual income as dividends to its shareholders
A REIT must have at least 75% of its assets invested in real estate, mortgage loans, other REITs, cash, or government securities
A REIT must derive at least 75% of its gross income from rents, interest, and gains from sale
A REIT must have at least 100 shareholders and must have less then 50% of the outstanding shares concentrated in the hands of five or fewer shareholders
More details you can see under section "What are the required elements for forming a REIT?"
IV. When and why were REITs created?
REIT is essentially a tax term.
Congress passed the original REIT legislation in 1960 in order to provide a tax-preferred method by which average investors could invest in a professionally managed portfolio of real estate assets.
This Offer expert management and familiar corporate governance structures (BOD)
Many of the limitations imposed upon the operation of REITs and the taxes to which they are potentially subject are perhaps best understood in terms of the original notion that the activities of REITs were to consist predominantly of passive investments in real estate.
V. What types of REITs are there?
There are three types of REITs:
equity REITs, which primarily own, or have an interest in, income-producing real estate;
mortgage REITs, which originate or acquire mortgage loans and other debt obligations that are secured by real property;
and hybrid REITs, which combine the equity REIT and mortgage REIT model and both owns commercial real estate and holds mortgages secured by commercial real estate
VI. What are the required elements for forming a REIT?[Adopted from U.S.SECwebsite]
In order to qualify for the tax benefits available to a REIT under the Code, the qualifying REIT entity must:
Be an entity that would be taxable as a corporation but for its REIT status;
Be managed by a board of directors or trustees;
Have shares that are fully transferable;
Have a minimum of 100 shareholders after its first year as a REIT;
Have no more than 50 percent of its shares held by 5 or fewer individuals during the last half of the taxable year;
Invest at least 75 percent of its total assets in real estate assets and cash;
Derive at least 75 percent of its gross income from real estate-related sources, including rents from real property and interest on mortgages financing real property;
Derive at least 95 percent of its gross income from such real estate sources and dividends or interest from any source; and
Have no more than 25 percent of its assets consist of non-qualifying securities or stock in taxable REIT subsidiaries
VII. What other countries have REITs?
A number of countries, including Australia, Brazil, Canada, Germany, India, Japan, Pakistan, Singapore and the United Kingdom have REIT-type legislation. The details of the rules may vary from the U.S. rules and from country to country.
VIII. What are the tax advantages of being a REIT?
REITs do not have to pay federal taxes at the corporate level
More specifically, REITs are allowed to deduct dividends paid to shareholders from taxable income, and thus have the ability to shield 100% of taxable income through distributions to shareholders
REIT shareholders still have to pay taxes on dividends and capital gains
Most states honor the REIT status and don’t require REITs to pay state taxes
If you like to learn some of the techniques and styles that make Steve Jobs such a great presenter, here’s some excellent advice from Businessweek columnist Carmine Gallo, who is also the author of the book – The Presentation Secrets of Steve Jobs. I think it is an awesome video on presentation skills.
Here are some points extracted from the video:
Make your theme clear and consistent
Create a headline that sets the direction for the meeting
Provide the outline
Open and close each section with a clear transition
Make it easy for your listeners to follow your story
Demonstrate enthusiasm e.g. extraordinary, amazing, cool, incredible, unbelievable, awesome
Wow your audience by seeling an experience
Make numbers and statistics meaningful
Analogies help connect the dots for your audience
Make it visual
Point a simple picture that doesn’t overwhelm
Identify your memorable moment and build up to it
Rehearse, rehearse, rehearse
Last but not the least…
Give your audience an added bonus to walk away with
Oracle's EBS delivers a user interface that was designed to increase the productivity of all users. Here are the compiled list of some of the features that user experiences such rich UI functionality who moved from SAP to Oracle Apps.
Folders for screen layout in which you can change Prompts, Field Orders, Size etc. Refer this post
Top Ten List : User can use the Top Ten List to add personal favorites and most frequently used forms to quickly navigate to them from the Top Ten List on the right side of the screen.
The good is that each list is unique to a user and responsibility.
To add a form to the Navigation Top Ten List, select a frequently used form in the navigation list (on the left side of the screen).
The form name appears in the Top Ten List preceded by a number.
To remove a form from the Top Ten List, select the form in the Top Ten List and click the left arrow button
Navigator Window : In Oracle a Navigator window will be displayed after a responsibility is selected.User can use this window to navigate to the form that allows you to perform desired business functions. This is the main window that is always displayed during your session.The navigation list is organized in levels. Items that begin with a plus sign (+) can be expanded to further sub-levels until you find the form of interest (no sign will appear). The expand buttons are located on the Navigator window at the left of the screen
File Export to Excel :The File - Export option allows you to dump the data you see on the form.check this post
Multiple Windows Open at one time : Technically called zoom in Oracle.Since 11i multiple Document Interface, which means that all windows are displayed inside a single window, with a single toolbar and menu attached to that window. So, since the toolbar opens as part of the window, there is no way for the toolbar to get disconnected or “lost”.
Workbenches :These are most liked one by key user. These are only menus which carry the whole bunch of functions/submenus.Most of application product does have workbench. If you are new to Oracle you can understand within AR workbench is divided into 3 main sections:
Transaction Workbench - Menu: Transactions
Receipts Workbench - Menu: Receipts
Collections Workbench - Menu: Collections
Message and Status Line :The Message Line and the Status Line are shown at the bottom of the window, instead of on the toolbar.
Required Fields Highlighted - Fields where input is required have a highlighted background,Fields are color coded to indicate the type of activity allowed:
White– Permits data entry
Yellow– Requires data entry
Grey with Black Text- For display only
Blue- Indicates the form is in Query-Enter mode
Autofill and Type Ahead
Field Level Update/Validation : That you can get without 'save' or 'Update' operations.
Drag and Drop: This is feature, in which you can move a column by drag and drop.
Graphical Elements : User can get some graphical elements like 'T' Accounts, Graphs, Diagrams directly from UI.
Query in all forms : Oracle best feature for user is they can do query is most of the form.
Right Mouse click :Clicking the right mouse will open up a menu that offers the cut, copy, and paste features, as well as folders and help.
Hot keys :Hot keys can increase user productivity by allowing common operations to be executed from a keyboard shortcut, rather than a menu selection. Hot keys are an effective usability tool, especially for “heads down” mouse-less data entry such as rapid order entry.Experienced Oracle Applications users can access the menu by using a keyboard shortcut or hot key, a specific combination of keystrokes that performs the same function as a corresponding menu item. Oracle Applications assigns many commonly used functions, such as Run Query(Ctrl+F11), Save(Ctrl+S), or Clear Record(F6) to keyboard shortcuts.
DFF : Addding a Descriptive Flexfield and Use It
Using FIND : If you want to search for records in your current block or window, the simplest way to proceed is to use Find. This will usually display a Find window, in which you can enter the criteria to match, then click the Find button. If any of the fields in the Find window have lists of values associated with them, you can use these to validate your search criteria. Find windows often provide ranges in addition to individual field values (e.g. date or value ranges). However, your search is limited to the fields that have been included in the Find window.
This quick overview of User interface for EBS is designed to provides all kind of end users with a highly productive interface.
In earlier post we have seen how Oracle Diagnotics tool makes life easy for everyone. Lets take some intresting stuff inside the tool.
Applications Collection Tool (ACT)
The Applications Collection Tool (ACT) is a test collecting information about apps technical environment and setup of a given product. This tool is executable via Oracle Diagnostics framework under the tab 'Advanced'. Oracle Diagnostics framework is launch able via OAM.
Many time you will get this message "No Groups have been registered for the Advance Test"? What is meant?
You get this message because there are no currently available diagnostics tools for that particular product. So you haven't missed any step... It is correct behavior. Information of all currently available diagnostics tools you can find in the Diagnostic Tests Catalog for E-Business Suite.
Is some things Changed from Security side?
Yes,from Jan-07 Support diagnostics (IZU) patch, diagnostics have now role-based security . It means:
Is can be assigned to the current user belongs to one of the valid applications internally defined in the test.
The Diagnostic Test available are specific to an EBS module.
Each Module's test are organized into a group of related test called "test Group"
These grouping are based on what the test scripts have in common from data security standpoint.
By having the tests divided into groups, you are able to easily control access, these test groups have a 'sensitivity' assigned as:
Role Diagnostic: roles determine the set of operations that can be performed on test groups, based on the sensitivity of the test group. The sensitivity of the test group (high, medium or low) is determined by the developer of the test. The diagnostic roles and tests authorized are as follows.
Super User - User such as SYSADMIN and responsibility like CRM HTML Administration ,Has permission to execute tests, perform configuration, view reports and set up security
Application Super User Medium/Low Sensitivity ,All applications - Has permission to execute tests, configure results and view reports Authorized applications - Has permission to execute tests, perform configuration, view reports, and set up security
End User those with low Sensitivity , most of the applications has permission to execute tests and configure results.
A particular user's access to the diagnostic test is determined by
responsibly that he/she is accessing
what role are granted to those responsibility
If we take a example for BOM module, you will find 5 "test group" , which is listed as:
items --Diagnostic test related to Items setup
Item Categories---Diagnostic test related to Items Category setup
Bills -Diagnostic test related to Bills
Routings -Diagnostic test related to Routing
ECOs -- Diagnostic test related to ECOs
Data Collection - Diagnostic test related to data collection
When should go for Batch Processing?
This option is good when diagnostic test taking too long to execute.This option, located on the home page of the diagnostics framework, allows you to select one or more tests within one or more products for execution in batch mode. It means you can do setup for Period end Close setup in GL as well as Auto invoice setup in AR.
So, this is all about for the Oracle tools diagnostic capability. Now time for comment, question, clarification.:)
Do you know in Oracle eBusiness Suite Diagnostics is a free tool provided by Oracle to ease the gathering and analyzing of information from your eBusiness Suite specific to a existing issue or setup.
Oracle Diagnostic Tool Responsibility
The Oracle Diagnostic Tool is provided by Oracle to ease the gathering and analyzing of information from your eBusiness suite when diagnosis an existing data issue, transactional problem or setup error through a complete set up responsibility.
Oracle Support Diagnostics benefits
Problem Avoidance: Identify and solve potential issues before suffering their symptoms
Formatted Output: Conveniently display the information gathered, the finding of the analysis and appropriate action to take if necessary
Ease to use: This tool is easy to use and is designed for both the functional and technical user. Identify and solve existing issues without external assistance
Self Services Resolution: Resolving Problem without the need to contact oracle support
Reduction in resolution time: minimizing the time spent to resolve an issue by increasing support engineer as well as end user efficiency
No Technical skill required: No special SQL*Plus/operating system access required.
Testing Hub: Because of Central location of all tests, it is the hub for all Diagnostic testing.
The diagnostic tool does not alter the data or setup in your system i.e. no updates, inserts, or deletes happen.
Sensitive customer information is not collected or displayed.
The diagnostic tool are organized into one of the following groups