TREASURER’S DIRECTIONS ACCOUNTING – LIABILITIES Section A3.3 : Provisions STATEMENT OF INTENT Complete and accurate liability information enables an Agency to be fully aware of its financial obligations and the uncertainties expected to affect their ultimate value. This Section explains the requirements for the recognition measurement and disclosure of provisions. MAIN FEATURES Section 38 of the Financial Management Act requires every Accountable Officer and every employee of an Agency
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Contingent Liabilities and Contingent Assets The Standard This standard distinguishes between provisions and contingent liabilities. A provision is included in the statement of financial position at the best estimate of the expenditure required to settle the obligation at the end of the reporting period. A contingent liability is not recognised in the statement of financial position. However‚ unless the possibility of an outflow of economic resources is remote‚ a contingent liability is disclosed
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central government‚ and left the states with little say. Jefferson could be compared to a “Republican” of today‚ or one that follows a strict interpretation of the government. This strict interpretation meant that the central government was not around to babysit the people‚ but rather to handle nationwide affairs while state government performs most of the work. This strict reading of the constitution led to a hatred for the Excise tax‚ which allotted too much power to the central government in controlling
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6. Many of the people Malcolm X preached to about the Nation of Islam were turned off by the strict code of discipline. How is strict discipline an advantage in developing moral character and fortitude? How is strict discipline a disadvantage? The advantages of the code of discipline and creates moral because it promotes good behavior and having a healthy relationships and family life. The codes where no stealing‚ lying and insubordination to civil authority which promotes honesty and loyalty within
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Professional Regulation and Criminal Liability Paper Hippocratic Oath The principle of the Hippocratic Oath is one of the oldest binding documents in history. The oath states: I will use those dietary regimens which will benefit my patients according to my greatest ability and judgment‚ and I will do no harm or injustice to them. I will not give a lethal drug to anyone if I am asked‚ nor will I advise such a plan; and similarly I will not give a woman a pessary to cause an abortion. In purity
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must consider themselves a part of the business community‚ as well as society. Making money is not unethical; however‚ money cannot be the driving force of ethical thinking within a business (ethics.org‚ 2008). This paper will discuss the statement "strict government regulations are necessary to make companies behave ethically". An examination of this statement in accordance of ethics
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Chapter 20‚ Review Question 20-5 Distinguish among the four standards that have evolved for defining auditors’ liability for ordinary negligence to third parties under common law. Why is this area of auditors’ liability so complex? Legal precedent differs by jurisdiction (state by state). Third party must prove: 1. auditor had a duty to the plaintiff to exercise due care 2. auditor breached that duty by failing to act with due professional care 3. direct causal connection between auditor’s
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INTOXICATION AS A DEFENSE AGAINST CRIMINAL LIABILITY : A COMPARATIVE ANALYSIS SUBMITTED BY: Sharad Arya Intoxication with alcohol and drugs is commonly associated
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In this leaflet I will describe the law of negligence and occupier’s liability‚ economic loss and psychiatric loss. Negligence is when somebody has a duty of care and that duty is breached. Negligence is split into 3 parts. Duty of Care In certain situations‚ a duty of care is owed to another person. For example‚ a surgeon owes a duty of care to whoever they operate on. The existence of a duty of care is established by the Neighbour Test which was brought in by Lord Aitken after the Donoghue
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Explain the legal procedure of showing Dan’s legal liabilities. This Essay will outline the legal procedure surrounding Dan‚ who is on trial for the attempted murder of his girlfriend‚ from the moment a neighbor reported the crime to the police. It will detail the time from the process of this report up to the end of his trial. The first step will be the investigation of the reported offence undertaken by a non legally qualified body‚ the Police. The Police will question the witness‚ Mrs Smith
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