Current Liabilities and Contingencies Current assets are cash or other assets that can reasonably be expected to be converted into cash‚ sold‚ or consumed in operations within a single operation cycle or within a year if more than one cycle is completed each year. Current liabilities are obligations whose liquidation is reasonably expected to require use of existing resources properly classified as current assets‚ or the creation of other liabilities. Accounts Payable or trade accounts payable
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Accounting Regulation With the recent accounting discrepancies that have taken place in some of America’s largest and well known corporations greater importance is being placed on the creation and monitoring of financial reports. Some of these organizations which regulate how financial reports and compiled are private‚ given a charter by a federal agency‚ others were born from the creation of new laws and regulations‚ some are state agencies‚ and many more are private organizations made up of academics
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In this case‚ Nona was approached by Samseng on her way home after work. Samseng then threatened by pointed a gun onto her head and asked Nona to surrender her money. In order to take legal action against Samseng under assault‚ the issue must first be fulfilled the elements of assault. The first element of assault is the mental state of the defendant. In this case‚ the defendant has the intention to commit the assault on Nona. The intention of the defendant is specific as when the defendant acted
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scientists will inject a seed with the gene turning it into a genetically engineered seed. The GMO regulation has inconsistent guidelines‚ policies that are out of date‚ and regulations that are contradictory between FDA‚ EPA‚ and the USDA. The Federal government will need to upgrade their policies and guidelines that will require that the government agencies pay more attention to the policies. The regulations and procedures should require altered biotechnology crops to have a higher standard than non-GMO
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Role of the US Constitution and Legal System in Business RegulationThe Constitution of the United States and their legal system have an impact on the guidance and operation of companies in any industry. In case a person breaks a law‚ for example‚ he or she may be obliged to pay a fine or even imprisoned in the US. It works the same way with companies: if a business is found responsible for allowing its employees to violate regulations this company is subject to a fine and even closedown. For instance
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What does it mean to be a Puerto Rican? This is a question that may have different answers according to the emphasis that is given. The more important approach is the geographical. Therefore‚ Puerto Rican are anyone that grown on the island of Puerto Rico. I emphasize in growth rather than birth‚ because a person may be born in P.R. and four months of age be moved to Italia where he lives the rest of his life. This individual will be Italian. Similarly‚ if an individual is born in Colombia
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government have in all this? Those who fear being left behind want to give the government a little more control - they want the protection. Many companies want less regulations. While people are scared of being left behind our speeding
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“Hot Coffee”‚ most people do not know the real meaning of tort reforms. The reason for these proposed changes are based on the facts that people were getting greedy and wanted to make easy and fast money‚ thus were suing for anything they considered damaging for them. Simultaneously lawyers were taking up this opportunity to make money out of the lawsuits that were filed by their clients. Based on the publication in the Legal Dictionary on tort law (web)‚ juries have tried to make sure that the petitioner
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Multiple choice Ch13 Liabilities TRUE-FALSE—Conceptual 1. A zero-interest-bearing note payable that is issued at a discount will not result in any interest expense being recognized. 2. Dividends in arrears on cumulative preferred stock should be recorded as a current liability. 3. Magazine subscriptions and airline ticket sales both result in unearned revenues. 4. Discount on Notes Payable is a contra account to Notes Payable on the balance sheet. 5. All long-term
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Investment report of Westpac Banking Corp. & Commonwealth Bank of Australia Table of Contents Executive Summary………………………………………………….……………...1 Introduction…………………………………………………………………………...2 Overview of the Current Financial Market……………………………………......2 Ratio Analysis………………………………………………………………………. 3 Return Measurement: Percentage Return……………………………...……...3 Risk Measurement: Reward-to-Risk…………………………………..……..…4 Market Value Measurement: P/EPS………………………………...…...……..5 Profitability
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