Examples of liabilities, Auditing

Examples of Liabilities

Examples of those liabilities are:

a) Claims by employees for injury at work such should be covered through workman's compensation;

b) Claims through ex-employees for unfair dismissal;

c) Unfunded retirement fund liabilities;

d )Bonuses within profit sharing arrangement;

e) Returnable containers or packages;

f) Penalties for VAT and another tax;

g) Guarantees and Warranties;

h) Discounted bills;

i) Pending litigation;

j) Losses on forward contracts penalties for breach of contract;

Posted Date: 1/28/2013 12:44:21 AM | Location : United States







Related Discussions:- Examples of liabilities, Assignment Help, Ask Question on Examples of liabilities, Get Answer, Expert's Help, Examples of liabilities Discussions

Write discussion on Examples of liabilities
Your posts are moderated
Related Questions
The modern approach allows one audit of an auditable entity with one comprehensive report. One additional advantage is that this approach assists in staff development and retention

Explain the purpose and content of a statutory audit report. Explain what recommendations you would make to the case study business Statuary and Non- Statuary audits In

This charter defines the mission, independence and objectivity, scope and responsibilities, authority, accountability and standards of the Internal Audit function. A charter i

what is the effect of fraud and error on the financial statement.please I want simple answer

Statistical sampling – Advantages a) It is scientific and defensible; b) It provides a precise mathematical statement about probabilities of being correct; c) It is efficie

Co-operative Societies An audit in this case is carried out as a normal audit except you should note that the auditor is appointed by the Commissioner of Co-operatives and alth

Insurance Companies Authoritative documents involved as: The Insurance Act The Companies Act IFRS 4 Insurance Contracts The major legislation governing insu

OBJECTIVES To apply certain steps in the audit planning process, with emphasis on risk identification and audit response (strategy) thereto. To provide you with the exp

IFRS 5 Non-Current Assets IFRS 5 Non-Current Assets Held for Discontinued and Sale Operations The Discontinuing Operation is a component of an enterprise: (a)  Such the

Requirements of the Companies Act Here the seventh schedule to the Companies Act gives the matters which must be expressly stated in the AUDITOR'S REPORT 1. Where they have