Chapter 12: Financial Liabilities and Provisions Case 12-1 Prescriptions Depot Limited 12-2 Camani Corporation Suggested Time Technical Review TR12-1 Provision—Measurement 10 TR12-2 Provision—Warranty 5 TR12-3 Note Payable 5 TR12-4 Discounting—Note Payable 10 TR12-5 Discounting—Provision 10 Assignment A12-1 Common Financial Liabilities 10 A12-2 Common Financial Liabilities—Taxes 20 A12-3 Common Financial Liabilities—Taxes 20 A12-4 Foreign Currency Payables (*W) 10 A12-5 Common Financial Liabilities & Foreign Currency 25 A12-6 Provisions 20 A12-7 Provisions (*W) 20 A12-8 Provisions 20 A12-9 Provision Measurement 15 A12-10 Provision Measurement 15 A12-11 …show more content…
Therefore, more than $25,000 should be recorded – the $50,000 (two payouts and the expected value) can be justified. 10. Accounting for the lawsuit is complicated at this stage because the company and/or the lawyer would be unwilling to admit in print (i.e., in the financial statements) that they would settle the lawsuit, and at what amount. This might provide too much information to the plaintiff that hurt company interests. Note disclosure of the lawsuit, in general terms, is the likely outcome, although an accrual for $150,000 would be made if the company were to share this information with its accountants. This is the ethically appropriate outcome. When the accrual is made, separate disclosure would be minimal so its treatment would not be obvious to the plaintiff. 11. A purchase order is an executory contract, and is not a liability until the other party performs its obligations under the contract. That is, the amount becomes a liability when the goods are delivered, but not until then. Some liability would be recognized if the contract became an onerous contact. This would happen if the fair value of the goods were to fall below $10 per case. A liability would be recognized for the amount of the loss because that amount has no economic value. 12. A provision for warranty work will be recorded in 20X3 because the company has
1.An extensive network of specialized cells that carry information to and from all parts of the body is called the nervous system.
2.1 - Explain the importance of reflective practice in continuously improving the quality of the service provided.
2. Working according to the agreed ways means following the organisation’s policy and procedures in relation to pressure areas. It also means following the individual care plans and respecting the instructions in place. For example making sure a resident is turned every two hours, applying Cavilon cream on areas; fill in turning charts, prompt fluid intake. Under the duty of care a care assistant must always be aware of and raise concerns regarding possible pressure areas. Always record information in care plans accurately and in confidentiality.
The Court's failure to put forward a convincing justification of its own could perhaps be excused if it were relying upon the unanimous conclusion of state courts in the reasoned development of their common law. It cannot do that, since no State has such a privilege apart from legislation. The Court concedes that there is "divergence among the States concerning the types of therapy relationships protected and the exceptions recognized." "The reasons for recognizing a privilege for treatment by psychiatrists and psychologists apply with equal force to treatment by a clinical social worker such as Karen Beyer. Today, social workers provide a significant amount of mental health treatment. Their clients often include the poor and those of modest means who could not afford the assistance of a psychiatrist or psychologist, but whose counselling sessions serve the same public goals."
If they move and have to go to a new school, make new friends ect. As a parent or teacher you can comfort them and let them get used to where they are and not feel nervous or scared about being somewhere new and unfamiliar and help them to make friends, by asking them to join in activities, join an after school club or an out of school club where they will meet new people and get to know
The Social Model of disability came about through the disability movement and other organisation campaigning for equal rights, opportunities and choices for disabled people. The social model of disability recognises that any problem of disability are created by society and its institution and that The Discrimination Acts are tools to help to improve the response of society to disability, also a wheel chair user is not hampered by their disability but by lack of adequate access to buildings. The social model may impact upon our practise as we would provide inclusive environments as a starting point for all children. The Scope website stated ‘The social model of disability says that disability is caused by the way
Embrace new technologies to improve efficiency, maintain environmental stewardship through green practices and sustainable operations, support continuous improvement of the business processes, develop employees’ capability, and provide excellent customer services.” (Hillsborough County, 2015)
b. The emperor Kangxi led the conquest of the island of Taiwan , home to Chinese and Japanese pirates, in 1681. Struggles with a new rival to the north and northwest, manchurians , led to constant conflict and extensive territorial gains for China.
How should we schedule employees this week? When should we schedule delivery for each batch of product? How should customer service people answer the phones?
“If I give this homeless person a dollar then I’ll have to give the next guy a dollar and so forth … I’ll end up broke!”
1. When a social scientists say that the concept of race is a "social construct", they mean that the mainstream belief among scientists is that race is a social construct without biological meaning.
We are living in market society, which is so different from previous societies. In market society, the whole of society is a system of self-regulating market (Polanyi 43). In order to make the market society function, people need to think and act in certain ways(Polanyi 68). For example, people in market society think that economic relations are much more important than interpersonal relations (Polanyi 44). Polanyi calls the emergence of market society “the great transformation”. My thesis statement is that the shift to market society is a
BE4-1 Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income. The first transaction has been completed as an example.
Which layer of the OSI reference model handles logical addressing (IP addresses) and routing traffic?
Our team is given the task to account for a pending litigation. We are to determine how pending litigation should be reported on the current and future financial statements. M Corporation was sued for patent infringement and we will present whether M Corporation should accrue a liability, disclose a liability, do both, or do nothing. The case accounting for the litigation and the subsequent overturned verdict was ongoing for four years between M Corporation and W Corporation and, as litigation is unpredictable, changes will have to be made accordingly. We will present how M Corporation should a) account for the pending litigation in 2007 - the year the claim was