Case 13-8 Accounting for a Loss Contingency for a Verdict on Appeal In this case we are presented with the scenario that a company faces a pending litigation. We are supposed to surmise how this liability will be reported, as well as, the resulting effects on the financials in the years in question. In my opinion, the primary accounting to be resolved is whether to accrue the liability, disclose the liability or simply count it is as immaterial and do nothing. As we progress through the scenario we are presented with subsequent facts which suggest that our decisions will indeed be impacted and changed due to litigation and we must act accordingly. The following are the questions asked by the case and my understanding of applicable GAAP.
Establish its’ own code of professional ethics. State Board of Accountancy, American Institute of Public Certified Accountants 6. Issue Statements of Financial Accounting Standards. Financial Accounting Standards Board 7. Impose mandatory continuing education as a requirement for renewal of license to practice as a CPA.
You now need to build the Level 0 (System) DFD and corresponding process models. Activities 1. Develop Level 0 DFD. Make assumptions where necessary. Explode 0.1 Update skills requirement, 0.2 Generate Reports, 0.4 Order Equipment, 0.6 Process Check-out 2.
The responsibilities for the implementation process will be split amongst the staff in Purchasing and Central Services in conjunction with a special team that has been selected which includes the Financial System Project Team. The implantation will be divided into phases to ensure proper roll out of the new system. The first phase will be to get updated vendor information. Since every vendor has been assigned a vendor number through the previous system, we will ask Duns&Bradstreet to supply us with a current file of our 6100 vendors. This file should include the vendor’s DUNS #, Business Name, phone #, Minority or Women owned indicator, Sources of Minority and Women Owned Certification and the vendor’s email address.
Unit 1 Individual Project 1 Anthony L Mitchell June 8, 2012 AIU Online AIU Online Abstract This paper will discuss the differences and similarities of business proposals and formal research. This paper will include the theoretical and physical properties of each and how they operate in the world of business. In today’s business world formal research and business proposals are important elements that help to create success for anyone looking to prosper in business. There are some differences and similarities when comparing business proposals and formal research for each has its own use and application in the world of business. To help better understand these similarities and differences one must first understand the terms of formal research
The Securities Exchange Commission (SEC) b. The Financial Accounting Standards Board (FASB) c. Government Accounting Standards Board (GASB) 7. Impose mandatory continuing education as a requirement for renewal of license to practice as a CPA. a. SBOA 8. Issue disclosure requirements for companies under its jurisdiction that may exceed GAAP.
Business information enables a company to obtain competitive advantage and promote efficiency. Any business uses information to manage not only what is currently happening in the organisation but also to plan for the future and ensure its survival. With the advance of technology, communication methods have changed significantly. Scenario You work for a large marketing firm called ‘Magic Marketing & Communications your newest and most prestigious client is John Lewis. Assessmentand GradingCriteria | TASKS | P1; P7 M1; D1 Report which includes aTable with illustrations | DEADLINE FOR TASK 1: Week commencing 13th October 2014 DEADLINE FOR TASK 1: Week commencing 13th October 2014 TASK 1 – Business Information And CommunicationsP1: Explain the different types of business information, their sources and purposesP7: Outline electronic and non-electronic methods for communicating business information, using examples for different kinds of audienceMake a TABLE IN YOUR REPORT in landscape format with the following headings.
snisUnit 8: Unit code: QCF Level 3: Credit value: Accounting Systems F/502/5421 BTEC National 10 Guided learning hours: 60 Aim and purpose The aim of this unit is to enable learners to understand that recording year-end financial information accurately is vital to any business. This information can be recorded using manual or computerised packages, whichever is more suitable for business resources and needs. Unit introduction One essential requirement in running and managing of an organisation is the need for clear, relevant and accurate information. In particular, an organisation needs accounting information that gives a complete picture of all financial transactions that have taken place and the current financial position of
Activity 1 1.1 Human Resource Profession Map The CIPD HR Profession Map is an elaborated explanation on how the HR of any organisation works to make it sustainable and successful. It has been designed to be applicable to HR professionals working anywhere in the world in any sector, size, shape of organisation. The HR Profession Map comprises of three main factors: 1. Professional areas – There are ten professional areas comprising of activities and knowledge for HR professionals. 2.
Project Management is described as the formation of a group of individuals from various parts of an enterprise who are assembled together within a short duration to contribute to the successful delivery of projects within that enterprise and immediately the project is commissioned, the entire group is dissolved and drafted to new projects (Laslo, 2010:609). Due to the ever-changing trends in infrastructural development and technological advancement globally, all jobs in different organisation are now being viewed as project-oriented (Bendoly et. al, 2010) However, it has been critically researched that planning in any project is a vital factor to the successful delivery of project outcomes. (Johnson et al. 2001, Pinto & Slevin 1988,).