Virgin Islands Form of Accounting Index

State:
Multi-State
Control #:
US-L0107E
Format:
Word; 
PDF; 
Rich Text
Instant download

Description

This is the accounting form used in an accounting of a law firm on the complaint of a former partner. It includes assets, liabilities, total liabilities, net assets, and a computation of the former partner's share.

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FAQ

Home to roughly 105,000 people, the USVI's population faces an unknown level of poverty; the most recent data fails to account for the hurricane destruction. It was last reported in the 2010 U.S. Census Bureau that 22% of the USVI population lived below the poverty line.

Croix had the highest poverty rate of the islands at 40.6% (nearly the same as the rate in 2013: 40.5%). In St. Thomas, 34% of children lived in families in poverty (up from 29% in 2013). In St.

Tourism, trade, and other services are the primary economic activities, accounting for nearly 60% of the Virgin Island's GDP and about half of total civilian employment. The islands host nearly 3 million tourists per year, mostly from visiting cruise ships. The islands are vulnerable to damage from storms.

Economy. The U.S. Virgin Islands economy is based primarily on tourism and other services. The leading sectors in employment are government service; trade, encompassing personal, business, and domestic services including tourism; manufacturing; and finance, real estate, and insurance.

Tourism. The tourism industry is the main industry, generating a substantial portion of the GDP and much of the islands' employment. Nearly 3 million tourists per year visit (2013 data), most arriving on cruise ships. Some 93 percent of tourists are from other areas of the US.

The cost of living in the U.S. Virgin Islands is higher than on the U.S. mainland. On average, apartments cost $2,000 per month. A two-bedroom house costs at least $285,000.

Tourism, trade, and other services are the primary economic activities, accounting for nearly 60% of the Virgin Island's GDP and about half of total civilian employment.

Bermuda, Cayman and British virgin islands are the top richest and wealthiest islands in the caribbean. GDP per capita is often considered an indicator of the standard of living of a given country, as it reflects the average wealth of each person residing in a country.

Home to roughly 105,000 people, the USVI's population faces an unknown level of poverty; the most recent data fails to account for the hurricane destruction. It was last reported in the 2010 U.S. Census Bureau that 22% of the USVI population lived below the poverty line.

The United States Virgin Islands (Virgin Islands) possesses significant economic growth potential. This is especially true of the island of St. Croix. Specific business opportunities in the Virgin Islands include the expansion of the tourism, information and technology, maritime, and manufacturing sectors.

More info

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Virgin Islands Form of Accounting Index