Liability

Noora Al-salmi MSA-660 6-21-2017 CASE 6‐9 Comprehensive Income Earnings as defined in SFAC No. 5 are consistent with the current operating performance concept of income. Comprehensive income is consistent with the all‐inclusive concept of income. Required: 1. Discuss the current operating performance concept of income. The current operating performance concept is a method that measures the efficiency of a company. The concept measures the effectiveness of the entity's use of its…

Finance Options for my laptop purchase Introduction The purpose of the report is to find two financing options for the purchase of a laptop. The purchase is through Noel Leeming, paying a $300 deposit. The total cost of the laptop and accessories is $1932.95. Finance Option 1 [Westpac] Get a personal loan from Westpac Bank of $1650 Loan detail summary: Loan amount- $1650.00 Interest Rate- 18.95% Loan Term- 1 year Monthly payment- $176.00 Total Payment- $2112.00 Additional Cost- Establishment…

How is comprehensive income different than net income? DEFINITION of 'Comprehensive Income' The change in a company's net assets from nonowner sources over a specified period of time. Comprehensive income is a statement of all income and expenses recognized during that period. The statement includes revenue, finance costs, tax expenses, discontinued operations, profit share and profit/loss. INVESTOPEDIA EXPLAINS 'Comprehensive Income' Companies typically report comprehensive income in a…

All types of kids will die someday no matter how hard you try to make their lives better economically; similar to the tale “Kids Who Die” by Langston Hughes. Hughes was a literary icon well known for writing about the African Americans’ experience with racism and discrimination during the 1950-1960’s. He was the leading voice of the Harlem Renaissance promoting upcoming young poets. On the other hand, he was the first black poet to support himself through his writing, according to the Poetry…

The non-custodial parent (NCP), Mr. Robinson’s testimony revealed that he disagrees with the arrears set by Jefferson County; want clarification of all the payments for child support since 2013 to the present day. He stated that he is current and has made payment for each reporting month. The NCP’s legal representative stated that they wanted to focus on all the information that was provided by the NCP. The information clearly lay out everything the NCP is trying to get across; mainly there…

Those who have sat through even the most introductory of tax courses know that the determination of income tax liability is not often a completely objective matter. It has become nearly impossible for the statutes, rulings, and cases to keep up with the ever-evolving business environment. In 2006, the Financial Accounting Standards Board (FASB) took a step towards curbing this ambiguity with the release of Interpretation No. 48, Accounting for Uncertainty in Income Taxes (FIN 48). This…

Liability to employees and workers compensation liability are critically important parts for your company. These liabilities are defined as “coverage for an employer's two key exposures arising out of injuries sustained by employees.” This section of insurance coverage is commonly divided into two parts. The first part encompasses the employer's responsibilities under workers compensation laws, while the second part of the coverage handles the liability that results from employees' work-related…

Vicarious liability can be defined as holding an accused criminally liable for the unlawful conduct committed by another. It is associated with special relationships, for example the employer-employee relationship whereby the employer is held liable for a delict committed by their employee acting within the scope of his or her employment. It is a manifestation of strict liability from the perspective of the employer as he or she can be held liable for a crime in regards to which he or she does…

Hildreth, W., J. Miller, G., & Rabin, J. (1980). The Liability of Public Executives: Implications for Practice in Personnel Administration. Review of Public Personnel Administration 1, Fall. Bartley Hildreth, author of this article, holds a B.A. Political Science from University of Alabama, M.P.A. from Auburn University at Montgomery, and a Ph.D from University of Georgia. When this article was published in 1980, Hildreth had just completed his Ph.D. In this paper, I summarize the article and…

Criminal liability is based upon the coincidence of the guilty act (actus reus) and the guilty mind (mens rea). To be liable, the defendant must have the guilty state of mind at the time he commits the guilty act. Some offenses, however, don’t require mens rea with regard to at least one element of the actus reus. These offenses are called strict liability offenses. When both the actus reus and the mens rea are established and coincide, or when the offense committed is one of strict liability,…