Michael R. Bohatyritz Intermediate 1 Accounting 12/1/12 For my role as a staff accountant‚ I was assigned to research the appropriate accounting for revenue treatment of construction contracts for a client‚ LabCo. In specific‚ I was assigned to oversee LabCos’ contract involving a six-axis laser-cutting machine with Halibut Co. After researching and developing a theory based on the Financial Accounting Standards Boards’ Codification‚ I have concluded that LabCos’ treatment of revenue was reasonable;
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House sales contract This contract is made effective as of 8th of February‚ by and between Mrs. Appleby and Acme Insurance Co. 1. Purpose of Contract. Acme Insurance Co agrees to buy the Mrs. Appleby’s detached house which is located in 연희동‚ whose size is 50py. 2. Price of House sales. 3.1 The buyer agrees to buy‚ and the seller agrees to sell the detached house with the price of \650‚000‚000 which includes the price of newly moving house located in 아현동‚ sized 30py and \150
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Topic 2: LAW OF CONTRACT (Offer) Readings: Lee Mei Ping‚ General Principles of Malaysian Law‚ 5th Edition‚ 2005‚ Oxford Fajar Sdn Bhd Abdul Majid‚ Krishnan Arjunan‚ Business Law in Malaysia‚ 2005‚ Lexis Nexis Malayan Law Journal Beatrix Vohrah‚ Wu Min Aun‚ The Commercial Law of Malaysia‚ 2nd ed.‚ Longman‚ 2000 Malaysian Contracts Act 1950 (http://www.agc.gov.my/) law of Malaysia/numerical table of laws/Act 1136 Contents: 1. Introduction 2. Contracts and Agreements
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CASE STUDY 1 MAKING FRIENDS AT PILLCO Samir Sethi‚ the Managing Director of Pillco‚ a Mumbai based textile manufacturer‚ was quite pleased with himself. It was Friday afternoon and his flight from Tokyo was just about to land at Mumbai. In conjuction with his Sales Director‚ Aman Kalra‚ he had just returned from Japan where he managed to successfully complete negotiations on a Rs. 25 million order from a Japanese folfing manufacturer‚ Kokuna. The order was for the manufacture of a new range of
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Part A For a contract‚ it is necessary to decide what the parties have agreed‚ otherwise it is not possible to know whether the parties have done what they contracted to do. However‚ not all the statements made during negotiations are contractual terms. Therefore‚ here to discuss terms of the contract. Terms of the contract According to James (2010)‚ the terms of the contract are the specific details of the agreement‚ including each party’s rights and obligations. Broadly speaking‚ there are
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Basis for Advertising Contract: Google‚ Inc.‚ promises to offer advertising services to a customer in accordance to the terms outlined in the contract. The terms will govern the customer’s participation in Google’s advertising offerings and programs and how to remedy disputes. The provisions to be included in the contract must satisfy the criteria of a valid contract. Specifically‚ the contract must include an offer‚ an acceptance‚ consideration‚ capacity and a lawful purpose. Below‚ we attempt
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THE INDIAN CONTRACT ACT‚ 1872 CONTRACT Section 2(h) defines a contract as “an agreement enforceable by law” Thus to make a contract there must be – (i) an agreement (ii) the agreement should be enforceable by law. All agreements are not enforceable by law and‚ therefore‚ all agreements are not contracts. Some agreements may be enforceable by law and others not. For example‚ an agreement to sell a radio set may be a contract‚ but an agreement to go to see a movie may
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www.hbrreprints.org HBR CASE STUDY AND COMMENTARY Should Cheryl initiate an investigation at her new firm? The CEO’s Private Investigation Four commentators offer expert advice. by Joseph Finder • Reprint R0710A If there ever were a time when a chief executive should commission some quiet snooping on her colleagues‚ this might be it. HBR CASE STUDY The CEO’s Private Investigation COPYRIGHT © 2007 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED
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Z01_JOHN2020_09_SE_EM12.QXD 10/13/10 9:06 Page 613 CASE STUDY Cordia LLP: service reform in the public sector David Potter and Gerry Johnson Throughout the world governments – central and local – are wrestling with how to manage increasingly pressured budgets‚ increase efficiency and improve quality of services. Glasgow City Council in Scotland has made structural changes to its services that are amongst the most radical in local government. Cordia is the result of one such
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the contract. It can be treated as breach of warranty‚ stated in section 2 of SOGO‚ “in an agreement with reference to goods which are the subject of a contract of sale‚ but collateral to the main purpose of such contract‚ the breach of which gives rise to a claim for damages‚ but not to a right to reject the goods and treat the contract as repudiated.” Thus‚ warranties are lesser terms which do not go to the root of the contract. The remedy for a breach is an action for damages. In this case‚ Belinda
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