Why do we need laws? The law controls social relations and behavior To satisfy our basic needs and to exploit the full potential of human existence‚ people have always sought to live in company or society with others‚ the basis of this existence‚ by its very nature‚ must involve social interaction. To ensure the society functions effectively and survives it is necessary to establish norms of acceptable behavior. The state may impose sanctions or punishments on those who fail to comply with
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Do we actually need government? Is it possible to live without laws or rulers? Because man needs a moral limits‚ government is absolutely necessary. A government is a body that has the power to make and enforce laws within an organization or group. In the broadest sense‚ government means to manage or supervise‚ whether over an area of land‚ a set of people‚ or a collection of assets. The primary duty of a government is to reward the people who do good things and punish the wrongdoers. There are
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Do we need a warehouse? Roles and Functions of Warehouse The role of warehouse is important for the trade. Traders‚ carriers‚ retailers‚ exporters‚ manufacturers and wholesalers need warehouse because of the different functions of warehouse. Warehousing really useful for them. 1. Seasonal Production Some products like agricultural products and fruits are harvested on certain season. Manufacturers need to bridging the time gap between production and consumption of goods. So‚ they need the warehouse
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DO WE REALLY NEED PRISONS The simple meaning prison is a place for the confinement of persons in law detention‚ espicially people who are convicted of crimes according to The American Heritage of the English Language (2000). The history of prison almost as old as history itself. At first‚ prison were not used as a punishment but as a place where people who were sentenced to capital or corporal punishment were kept for a short period of time. But as the time passed‚ it turned into a legal punishment
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Info Conceptual Framework — IASB-FASB joint project Background At their joint meeting in October 2004‚ the IASB and the US FASB decided to add to their respective agendas a joint project to develop a common conceptual framework‚ based on and built on both the existing IASB Framework and the FASB Conceptual Framework‚ that both Boards would use as a basis for their accounting standards. The two boards reached the following tentative decisions about the approach to the project: * The project
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FINANCIAL REPORTING (FRS 108 ACCOUNTING POLICIES‚ CHANGES IN ACCOUNTING ESTIMATES AND ERRORS) ASSIGNMENT Question 1: Sycamore Bhd arranges to lease a machine from Oak Bhd starting on 1 July x3. The terms of the lease are that Sycamore will make three annual payments to Oak of RM30‚000 each. The first payment will be made on 1 July x3. The purchase price of the machine for cash‚ and the cost to Oak is RM74‚746. The interest rate implicit in the lease is 22%. Each company makes up its accounts
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each and every day‚ but for what reason? Is it because some people are trying to avenge the death of their loved ones‚ is it out of pure violence or terror‚ or out of protection for themselves? Regardless of the reason it is a recurring thing that needs to be discussed. There is a reason why people are beginning to lose faith and trust in the people governing this country‚ and the main reason is so many young men and women (African-American most) are losing their lives to police related incidents
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has always been taken as a ‘soft & light issue’ whose contribution generally can not be measured in monetary terms. There is no role of recording investments‚ benefits rendered by employees‚ valuation & accounting of human resource in conventional financial accounting. human resources is not considered in the different balance sheet models‚ and only in the profit and loss statement human resource costs / expenditure are taken in account‚ such as salaries and staff welfare expenses (including pensions)
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Solutions to the Homework Assignment Problems P1.31 Key Financial Statement Relations: Balance Sheet‚ Income Statement‚ and Statement of Cash Flow. Missing Values 2007 2008 Balance sheet: Cash 15‚000 Property‚ plant and equipment 162‚000 Intangible assets 10‚000 Accounts payable 21‚000 Interest payable 8‚000 Long-term debt 52‚000 Treasury stock (10‚000) Income statement
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INTERNATIONAL FINANCIAL REPORTING STANDARDS(IFRS) are designed as a common global language for business affairs so that company accounts are understandable and comparable across international boundaries. They are a consequence of growing international shareholding and trade and are particularly important for companies that have dealings in several countries. They are progressively replacing the many different national accounting standards. The rules to be followed by accountants to maintain books
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