Tim Kohlhaas 12/8/14 ACC322 This particular 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
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Product Liability Research Paper Shericia Bonnett Professor Kapalko LEG 500 – Law and Ethics In the Business Environment 09/09/2012 Consumers use a variety of products on a daily basis to assist them in accomplishing a task or completing a project and they expect the product to be properly designed and safe to use. However‚ in the event that a product is defective and causes injury to the person using it‚ the manufacturer may be liable for the injury and have to compensate the injured
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Supplies’ CEO has asked you to advise him on the facts of the case‚ and your opinion of their potential liability. He wants to settle the case. Write a memo to him which states your view of whether the company is exposed to liability on all issues you feel are in play. Include in your memo any laws which apply and any precedential cases either for or against Teddy’s case which impact liability. Include in the memo your suggested "offer of settlement" to Virginia. Back up your offer using your analysis
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Foreign Objects Found in the Human Body Ingestion‚ insertion and malpractice of foreign objects is a interesting topic among medical professionals for the past few years or more. It has been discussed in medical studies‚ such as emergency medicine‚ gastroenterology‚ urology and surgery. This essay would illustrate clinical studies from practice of deliberate ingestion‚ insertion or even malpractice of objects left behind in patients and then examines specific aspects of these behaviors that are
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The Roles of Agencies and Professionals in Safeguarding Individuals The roles of different agencies and professionals involved in safeguarding individuals all contribute to working together to prevent and protect adults at risk from abuse. They will make sure that they empower and support people to make their own choices‚ to investigate actual or suspected abuse and neglect ‚ to support adults and provide a service to adults at risk who are experiencing abuse‚ neglect and exploitation.
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Role played by professional auditors in Uganda Auditing is the independent examination of financial statements and the underlying books of account so as to form an opinion on whether they are prepared in all material aspects in accordance with the financial reporting framework. Such reporting framework includes International Accounting Standards (IAS)‚ the Companies Act Cap 110 (for Uganda) and any other relevant legislation. This is however carried out by a person termed as auditor. Internal
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Seminar 7 Vicarious Liability The problem question deals mainly with the issue of Vicarious Liability and Negligence. In order to advise Jerry one would have to explore the rules of vicarious liability‚ relevant statute law and case law which may apply. Vicarious liability has been defined as the person who commits a wrong must be an employee and not an independent contractor‚ the employee must have committed a tort and the tort must have been in the course of employment. The doctrine of ‘vicarious
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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 Zambian decided cases. In order to effectively do this‚ the essay will begin by generally talking about the two principles of law for criminal liability which are the “Actus reus”
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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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Professional football is a national pastime in the United States for its viewing pleasure and sense of competition. However‚ football has begun to receive negative attention about the safety risks associated with playing the sport. Numerous statements have been made about how repeated blows to the head takes a painful toll on the player in his later years. Some players have even started to retire earlier in their careers to avoid these elongated detriments. Similarly‚ A.E. Housman wrote a poem in
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