Stakeholders and Secondary Stakeholders. 3. State any two expectations of ‘Employers’ from a Business concern. 4. State any two expectations of ‘Employees’ from a Business concern. 5. State any two expectations of a ‘Creditor’ from a business enterprise. 6. Distinguish between Shareholders and Creditors. 7. Distinguish between Shareholders and Customers. 8. State any two expectations of an Associate (competitors) from a business enterprise. 9. What are the expectations of the Government from a business enterprise
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performance. Per statement of financial accounting standards no. 220 (SFAS 220-10-2)‚ if used with related disclosure and other information in the financial statements‚ the information provided by reporting comprehensive income should assist investors‚ creditors‚ and others in assessing an entity’s activities and the timing and magnitude of an entity’s future cash flows. Accounting policies defined in the literature Accounting policies are specific policies and procedures used by a company to prepare its
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Chapter 1 Overview of Financial Statement Analysis REVIEW Financial statement analysis is one important step in business analysis. Business analysis is the process of evaluating a company’s economic prospects and risks. This includes analyzing a company’s business environment‚ its strategies‚ and its financial position and performance. Business analysis is useful in a wide range of business decisions such as investing in equity or debt securities‚ extending credit through short or long term
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with the appointment of administrator: s 435C(1). In this phase‚ the company is put under moratorium. Under moratorium: * Creditors should stay all legal proceedings against the company except by the administrator’s consent or court’s order : s 440D * A company under VA cannot be wound up voluntarily except as provided by s 446A: s 440A * Secured creditors cannot take possession of property except by the administrator’s consent or court’s order: s 440B * Owners/lessors of property
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Condonation or remission of the debt 4. Confusion or merger of rights of creditor and debtor 5. Compensation 6. Novation I - PAYMENT OR PERFORMANCE PAYMENT means not only the delivery of money but also the performance‚ in any other manner of an obligation. How must the payment be made? 1. There must be delivery of the thing or rendition of the service that was contemplated. a. The debtor of a thing cannot compel the creditor to accept a different one although the latter may be of the same value
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Sample Test Questions‚ Final Exam‚ Fall 2003‚ Professor Isler True/False Indicate whether the sentence or statement is true or false. ____ 1. When an obvious clerical error exists in a written contract‚ the contract may not be enforceable. ____ 2. If the subject matter of a contract turns out to be more valuable than one of the parties believed it would be‚ that party can rescind the contract. ____ 3. A fraudulent contract may be enforced by the innocent party. ____ 4. An act of concealment
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Contract Act‚ 1872 deals with the recovery of the sum of money rightfully paid by the surety. The sum assured by the surety to the creditor being paid is divided into two categories: rightfully paid and wrongfully paid. For example‚ as per illustration(a) given with the section‚ when the surety did not pay the sum to the creditor on reasonable grounds‚ but paid it when the creditor sued him‚ it is rightful payment. But‚ as per illustration(b)‚ if there was no reasonable ground for the surety not to pay‚
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A HISTORY OF COMPANY LAW IN COLONIAL AUSTRALIA: ECONOMIC DEVELOPMENT AND LEGAL EVOLUTION PHILLIP LIPTON∗ [The history of Australian company law has attracted remarkably little attention in academic literature‚ perhaps because it has mainly been seen as a copy of English law with few‚ if any‚ noteworthy features. This article points out several interesting and significant aspects of the evolution of Australian company law and considers this evolution in the context of the economic development of
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restructure sovereign debt in a timely manner? In this paper we present a theory of the sovereign debt restructuring process in which delay arises as individual creditors hold-up a settlement in order to extract greater payments from the sovereign. We then use the theory to analyze recent policy proposals aimed at ensuring equal repayment of creditor claims. Strikingly‚ we show that such collective action policies may increase delay by encouraging free-riding on negotiation costs‚ even while preventing
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service must be delivered or rendered. b) Payment should be complete. Incomplete compliance or partial performance considered payment a) Substantial performance in good faith‚ minus or less the damages suffered by the obligee. b) Acceptance by the creditor of an incomplete or irregular performance‚ without any protest or objection. *There is no right to rescind under this article because there is only slight breach in the obligation. The court may even grant a term or a period for the performance
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