CHAPTER 6: ACCOUNTING FOR GENERAL LONG-TERM LIABILITIES AND DEBT SERVICE OUTLINE Number Topic Type/Task Status (re: 12/e) Questions: 6-1 Reasons for general long-term liabilities Explain 6-2 6-2 Disclosures of types and changes in liabilities Explain 6-6 6-3 General obligation bonds Describe 6-3 6-4 GO Bonds and enterprise funds Explain 6-5 6-5 Debt margin Explain 6-7 6-6 Purpose of debt service funds Explain 6-8 6-7 Number of debt service funds Explain 6-11 6-8 Year end balance
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the highest level of significance. Therefore‚ product liability is known as an issue which can jeopardize whole the business. There are many cases about companies who went bankrupt due to small potential liability issues which in normal circumstances nobody noticed and considered them as a factor. That is why only experienced and veteran attorneys handle product liability concerns and that is the reason why a company must consider product liability as one of its potential risks with high level of consequences
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|24‚25‚26‚27 | |Remittance |28‚29‚30 | |Liabilities of IFIC Bank Ltd. |30‚31‚32‚33‚ | |Assets of IFIC Bank LTd.
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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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Critical Thinking in the Legal Environment: Torts and Products Liability University of Maryland University College Introduction Through the use of the precepts of product and service liability law‚ consumers can go to court to be compensated for the injuries and/or losses they experienced when using a particular product or service. Product liability cases are a significant portion of United States litigations; there are approximately one million cases a year (Kubasek‚ Brennan
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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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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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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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Validity‚ Benefits‚ and Liabilities of Criminal Profiling According to an article published in Time magazine on Thomas Lee Dillon‚ the man convicted of hunting down and murdering five Ohio men in cold blood‚ there are only three ways you can accurately solve a crime. There must be the presence of physical evidence‚ an eyewitness to the crime‚ or a verifiable personal confession. (Ripley et al.‚ 2002). After studying criminal profiling this week‚ I believe that two important issues involved in
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