Professional liability insurance

Many professions require their members to carry basic liability insurance coverage. Anyone from a contractor, mechanic, and even construction worker is in a position to potentially need this type of coverage. Basic liability insurance provides a layer of protection that normally covers an individual for personal, bodily and property damage in the case of flawed workmanship (Joel, 2013). Beyond this basic coverage is professional liability coverage. Professional liability insurance or professional indemnity insurance is highly recommended for specific professions where individuals are often working in a capacity where an error or lapse in judgment may lead to significant harm of another. These policies go beyond basic coverage to accept the risk for negligence or inadequate services. Lawyers, doctors, and other healthcare providers, such as advanced practice nurses…

number tells us that the bank is not paying their loans, which can lead to debt. When looking at the banks borrowed funds, in the first quarter the bank has no borrowed funds, but by the end of the second quarter there were borrowed funds of 7.494. This is unfavorable because borrowed funds tend to be very costly. Other liabilities grew throughout the year; on 3/31/19, other liabilities was at 24.426, but at the end on 12/31/19 it was at 28.973. This increase means…

Summary: The demand of chocolate, at first, vastly outweighed the processors supply. Because of this the number of processors has increased immensely over the last couple of years, especially in West African and Asian nations. The outcome of this caused the global processing capacity to grown more than 400,000 metric tons in just five years. Godiva and Hershey’s market to two totally different groups. Godiva markets their chocolate to people who are willing to spend a little bit more…

flow statement implies assigning a plus (+) or minus ( - ) sign to each amount following the purposes they have served . For instance , If I repaid a $300 on car loan and interest , this amount should be noted -$300 or (300) , while a $400 investment will be written as $300 , simply . And Assuming that those numbers were the cash – related transactions I made for the period , I would better off with a $100 Net Cash Flow to complete my so-called statement. The last , but not the…

Pearson Air & Conditioning services financed its operations mostly through debt. Its total liabilities (both current and long term) were $136,211 compared to stockholders’ equity of $126,625. The company might be able to reduce its bank loans by reducing its inventory levels, its cash balance, and speeding up the collection of its credit sales. Currently, the company is paying above the prime rate and this could be because of liquidity risk, inflation risk, or even default risk. If the company…

year 2016 to 2017. Therefore, despite of small increase, it is good indicator that return is increasing. Operating Profit %: There is decline in operating profit which indicates that operating expense has increased from year 2016 to 2017 which require control. Gross Profit %: Gross profit is also decreasing from 30% to 36%. This fall is indicator of increasing cost of sales. Fixed Asset Turnover: This ratio is satisfying as sales are generating from fixed asset efficiently. Current Asset…

The four key changes that were apparent in the HCA’s results were that revenue increased 8.5 percent to $8.434 billion, compared to $7.769 from the previous year. The revenue growth was attributed to patient volumes and patient utilization at the organizations facilities. Admissions increased 7.4 percent, a substantial percent increase from the previous year. Their cash flow from operations totaled $1.263 billion compared to $1,387 billion the year before. The facility emergency room visits…

ORIGIN OF LOSS: Insured has presented a mold report from KATHRYN L. PASCALE, INC. 1302 SW 1st AVENUE FORT LAUDERDALE, FL 33315 Office: (954) 524-3910. The mold report was attached to the loss notice so I have not attached to this report. The mold report states there is mold in a wall under window in common area. It also states there is mold under sink and cabinet should be removed to determine extent of damages. The report also found mold in AC closet and recommended it be removed by…

he Income Summary account is used to Close the revenue and expense accounts. The income summary account is a transitional account into which all income statement revenue and expense accounts are transferred at the end of an accounting period. The net amount transferred into the income summary account equals the net profit or loss that the business incurred during the period. Thus, shifting revenue out of the income statement means debiting the revenue account for the total amount of revenue…

the preceding transactions and events. 3. Balance sheet preparation. The following data relate to Preston Company as of December 31, 20XX: Building $40,000 Accounts receivable $24,000 Cash 21,000 Loan payable 30,000 J. Preston, Capital 65,000 Land 21,000 Accounts payable ? Prepare a balance sheet as of December 31, 20XX. (See Exhibit 1.1 and 1.4) Current assets Current liabilities Cash $21,000 Account…