financial accounting standards statement sets up the foundation for reporting and accounting for loss contingencies. A contingent liability is a potential liability that might‚ or might not happen in the future. For example this could be a lawsuit‚ a product warranty‚ a possible tax assessment‚ a government investigation‚ or even an environmental contamination. A contingent liability and the associated loss are recorded as a journal entry only if the contingency meets these two criteria; A.) the contingency
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in the business of receiving deposits (liabilities) and to issue debt securities on one hand and create or invest in assets on the other hand during these transactions banks incur costs for their liabilities and earn income from their assets. Asset – liability management is therefore very critical for the sound management of the finances of any organisation that invests to meet its future cash flow needs and capital requirements. An efficient asset-liability management requires maximising the bank’s
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Teacher Liability University of Phoenix AED/201‚ Week 5 Erin Witt February 5‚ 2012 Your Results for "Classroom Management " | Print this page | Book’s Title: | Introduction to Teaching: Becoming a Professional | Book’s Author: | Kauchak | Location on Site: | Home > School Law: Ethical and Legal Influences > Reflect on This > Classroom Management | Date/Time Submitted: | February 6‚ 2012 at 4:05 AM (UTC/GMT) | | Summary of Results | All 3 questions in this activity
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Social Networking Sites and Graduate Recruitment: Sharing Online Activities? Debdeep Paul * ‚ Kusum Lata** * debdeepp.iem.ism@gmail.com ‚ ISM Dhanbad ‚ Department of Management Studies ** kusuml.iem.ism@gmail.com ‚ ISM Dhanbad ‚ Department of Management Studies Abstract The increasing impact of social networking sites in communication and socializing worldwide brings attention to how they affect recruitment processes of graduates in organizations. Many employers are now searching for graduates’
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Principles of Liability – Coursework Assessment Two For a contractual agreement to withstand‚ it is crucial that the contract contains the four main components‚ which are; offer‚ acceptance‚ consideration and the intention to create legal relations. A contract is seen as a legally binding agreement between two parties‚ so It is very important for the court to establish a ‘consensus ad idem’; the meeting of minds in order to judge whether a contract exists. Britney’s first meeting with
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Liability for Omissions The law has historically been reluctant to impose a general liability for omissions as opposed to positive acts. This means that there is no general duty of care in tort to act in order to prevent harm occurring to another. In Smith v Littlewoods Organisation‚ Lord Goff stated clearly that “the common law does not impose liability for what are called pure omissions”. Similarly‚ in Yuen Kun Yeu v A-G of Hong Kong‚ Lord Keith stated that people can ignore their moral responsibilities
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Civil Liability Civil Liability can be a problem for almost everyone in ever day life. Civil Liability impacts police officer ever day in their lives and at work. It can be defined as a citizen’s responsibility to each other and provided law suits to recover damages for injured caused by failing to carry out these responsibilities. It also very well can impact more than only police officers but anyone put in the situation to deal with the rights of people. Police Officers must always be aware
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Running Head: Strict Liability Torts Strict Liability Torts (Product Liability) Adil Elatillah LEG 300 Professor: Queen Meheux Spring 2012 Strayer University Strict Liability exists in the criminal context as well as civil‚ it is a legal responsibility for any damages and losses caused by a person or organization due to the act which is defined a fault in the criminal law term. Strict Liability‚ especially product liability is well known in tort law‚ of course criminal law and the
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PROFESSIONAL SUMMARY - HIGHLIGHTS • Placed with United Spirits Ltd - handled business worth INR 30 Cr. annually and 3500+ outlets. • In a challenging environment achieved overall 12% YTD (Nov) growth‚ 3% MS gain (key segments) • Role involved sales target achievement‚ distributor handling‚ relationship management‚ scheme planning‚ promotions and event planning‚ team handling and market reports • Prior to my MBA – IT work exp. and engineering background has instilled in me a working style based
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In law there is a fundamental principle which is guaranteed by the constitution that every person is innocent until proven to be guilty by the courts of law‚ in criminal law there are two principles of criminal liability which have to be relied upon in order to determine the guilt or innocence of the accused person. Therefore the aim of this essay is to discuss the two principles of law for criminal liability with reference to the Penal Code Act‚ Chapter Eighty Seven (87) of the Laws of Zambia and
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