Men’s Rea Mens rea is Latin for "guilty mind".[1] In criminal law‚ it is viewed as one of the necessary elements of some crimes. The standard common law test of criminal liability is usually expressed in the Latin phrase‚ actus non facit reum nisi mens sit rea‚ which means "the act is not culpable unless the mind is guilty". Thus‚ in jurisdictions with due process‚ there must be an actus reus‚ or "guilty act‚" accompanied by some level of mens rea to constitute the crime with which the defendant
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IASB and FASB release revenue recognition exposure draft What is the issue? On June 24th‚ the FASB and IASB issued an exposure draft proposing a new revenue recognition model that could fundamentally alter the way entities across a variety of industries recognise revenue. The proposal is an output of the boards’ joint efforts to develop a converged revenue recognition standard based on the same principles. A key objective is to increase the consistency of revenue recognition for similar contracts
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The REA Approach to Database Modeling T his chapter examines the resources‚ events‚ and agents (REA) model as a means of specifying and designing accounting information systems that serve the needs of all of the users in an organization. The chapter is comprised of three major sections. The first introduces the REA approach and comments on the general problems associated with traditional accounting practice that can be resolved through an REA approach. This section presents the REA model and describes
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Chapter 14 Auditing the Revenue Cycle |Learning Check | 14-1. a. The revenue cycle includes the activities involved in the exchange of goods and services with customers and the realization of the revenue in cash. b. The classes of transactions in this cycle for a merchandising company are sales‚ sales adjustments‚ and cash receipts. The primary accounts affected by these transactions are sales‚ accounts receivable‚ cost of sales‚ inventory‚ cash‚ sales
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Elliott v C [1983] The case involves the mens rea of recklessness. The defendant was a girl of 14 years old who had low intelligence. She lit a fire in a shed. The magistrates applied the test laid down in R v Caldwell but inferred that in his reference to "an obvious risk" Lord Diplock had meant a risk which was obvious to the particular defendant. They acquitted the defendant because they found that the defendant had given no thought at the time to the possibility of there being a risk that
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goods‚ services or both; in the other words it’s anything that satisfies customer need. Each product has its own limited life‚ however it shares the same aspect and we define the period that the product goes through as the "Product life cycle". The Product life cycle consist of four stages starting from introduction stage‚ growth stage‚ maturity stage and decline stage. At the introduction stage‚ the product is not popular and can’t really make a lot of profit. Its marketing cost may be high in order
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with the multimedia technology and its importance in the learning environments. He presented arguments and observational data to show that humans have several ways of interacting with their environments which resist accommodation in the decision cycle model. He also explains the process of preparing and maintaining the environment and reshaping the cognitive in steps in designing the right sort of resources and scaffolding for controlled learning environments. David’s main idea is to explore the concept
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COMM 391 BUSINESS ENVIRONMENT ANALYSIS AND REVENUE MODEL Introduction to Management Information Systems Winter 2013 – Term 2 Learning Objectives For discussion … 1. Describe Porter’s five forces model and explain each of the five forces. 2. Demonstrate how a company can add value by using Porter’s value chain analysis. 3. Describe the major revenue models. COMM 391 - W2013 Term 2 © 2013 – Kafui Monu‚ Y.M. Cheung 3 What is the Most Important Strategy Question
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Mens rea translates to guilty mind‚ it refers to the mental element of a crime. Mens rea must be proved alongside actus reus for a defendant (D) to be guilty of an offence. This was set out in Woolmington v DPP. Specific intent crimes require proof of a higher level of mens rea (ie intention) because of the moral blameworthiness attached to such crimes‚ whereas‚ basic intent crimes require proof only of recklessness. Intention is the highest form of mens rea and has two types‚ direct and oblique
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Web Catalog Revenue Models: The seller establishes a brand image‚ and then uses the strength of that image to sell through printed catalogs mailed to prospective buyers. Buyers place orders by mail or by calling the seller’s toll-free telephone number Advantages: 1/ A wide variety of consumer items‚ including apparel‚ computers‚ electronics‚ house wares‚ and gifts. 2/ Customers can place orders through the Web site or by telephone Disadvantages: For many types of products‚ people are still
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