What does CIT stand for?

Corporation tax

Although many of us have already forgotten CIT for the previous year, the abbreviation deciphered in today’s comic may make us long for another annual tax return. When you see in the picture who has a broader smile, we know who longs for that most. There are other interesting abbreviations, e.g. CFS. For accountants this means "Cash Flow Statement", for gourmets this is “chicken-fried steak” and for others searching Google this may be “Canadian Forest Service".

Tags: corporate income tax cash flow statement how to prepare cash flow statement

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  1. Great sketches, pitty about the doimnfiriatson about homeopathy - you've wasted your talent.On a different note, I've often wondered what kind of research Professor Ernest conducted at University of Exeter, thanks to your cartoon the mystery has been solved: back in 2002 he sent a standard email to 168 homeopaths pretending to be a concerned mother! Some would probably call it spam. If he was Nigerian he'd probably be accused of fraud, but never mind that...let's just call great research and extend his grant!

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