Auditing and Assurance – Assignment 1 Ashley Erasmus With reference to Caltex Australia 2012 Annual Report discuss the following: The role and responsibilities of Auditors and Company Board of Directors and the CEO and Senior Management with respect to the Accounting information reported on in the Annual report. The roles and responsibilities of a Board of Directors vary according to the nature of the company. They are usually responsible for determining the strategic direction of the business
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Liabilities & Financial Analysis Discuss current liabilities and long-term liabilities. What are the differences between the two? Illustrate your understanding of liabilities‚ making sure to identify major types of current liabilities. Respond to at least two of your classmates’ posts. Current liability is a debt that a company expects to pay from existing current assets or through the creation of other current liabilities and within one year or the operating cycle‚ whichever is longer;
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Classification of Assets: 1) Fixed Assets : A long term tangible assets held for business use and not expected to be converted to cash in the current or upcoming fiscal year such as manufacturing equipments also called plants. 2) Current Assets : Current assets are those assets which are held for sale or to be converted into cash after some time. 3) Contingent Assets: A contingent asset is one which comes into existence upon the happening of a certain event. If that event happens the asset becomes
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Drivers Consider an Umbrella Liability Policy In our litigious society‚ you may want to have an extra layer of liability protection. That is what a personal umbrella liability policy provides. An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a homeowners‚ renters‚ condo or auto policy. It will also cover you for things such as libel and slander. For about $150 to $300 per year you can buy a $1 million personal umbrella liability policy. The next million will
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In what ways do the travel habits of men and women differ? What at the implications for travel industry? Author: KUANLIN CHI Module code: PSE5023B-3b Course: 3b skills for study 2 Date: 04/07/2014 Contents Summary1 Introduction1 Different ways that the travel habits of men and women 1 Conclusion4 Reference 5 Summary The report focuses on the topic of that different travel habits between male and female. The article considers that the travel industry is implicated by different travel
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Brief Overview of Limited Liability Companies Introduction Limited Liability Company (LLC) is often considered as the hybrids of general partnership and corporation. It often referred as a general partnership where the partners have no personal liability and a limited partnership where there is no general partner or a partnership surrounded by a corporate shell (Seipel‚ Tunnell & Zimmermann‚ 1995). The LLC is first adopted in Wyoming in 1977 and then in Florida in 1982. However‚ LLCs
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consequences: not only many important values would be forgotten‚ and genetic diversity could be lost‚ but most importantly: we wouldn’t be unique anymore. To sum up‚ and because of all the reasons mentioned above‚ I believe that cloning has many implications to our society. I think that‚ even though we should try to evolve in science and technology‚ nowadays cloning isn’t a viable option as a lifesaving science‚ and therefore‚ it should be narrowly regulated in order to avoid any serious
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of Limited Liability Partnership. Its purpose was to solve the conflict | |between the continually expanding professional service organizations and unlimited joint liability. In 2006‚ newly revised the | |"Law of the People’s Republic of China on Enterprise Partnership" referenced this system‚ referred to as "special general | |partnership". This new organization blocked the unlimited joint liability among partners‚ partners protected by limited | |liability. Because of
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Outline the duty of care owned by an occupier to visitors defined in the Occupier’s Liability Act 1995 Under the traditional common law system entrants upon a premises were divided into the following four categories: Contractual invitees Invitees Licensees Trespassers Under the Occupier’s Liability Act 1995 three new categories were created; visitors‚ recreational users‚ trespassers. A visitor according to the act was: An entrant of right An entrant other than
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What Is Justice And How Can It Be Achieved? There is much talk about justice today‚ fighting a just war‚ how justice will be served on the terrorist and justice will prevail‚ living in a just world etc.‚ but it is not at all clear to us what it meant when justice is used in these ways. I searched online for justice and what I came up with is the following headings: Department of Justice Bureau of Justice International Court of Justice Criminal Justice The Court of Justice Juvenile Justice
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