User Account

All Pages

How would go about estimating the potential liability

Assignment Help Accounting Basics
Reference no: EM132697076

A train derails and causes significant personal and property damage. At year end, claims are still being filed by the injured parties and there are quite a few lawsuits asking for outrageous money.

Question 1) Would you accrue a "contingent" liability for any of the probable payouts in the future?

Question 2) How would you go about estimating the potential liability from this incident?

Question 3) The Footnotes to the financial statements are also a form of disclosure. Should any amount not be accrued and only disclosed in the footnotes? Why bother?

Reference no: EM132697076

Questions Cloud

Import strat plan : Discuss the benefits of virtualization software, as described in the text. Do you agree/disagree with these benefits, or can you think of additional benefits
What investing activity provided the largest inflow of cash : What investing activity provided the largest inflow of cash in the current year? What investing activity used the largest amount of cash in the current year
What about communication via e-mail : Protected Concerted Activities, What about communication via e-mail? Can union organizers use a company-operated e-mail system for organizing purposes?
Preparedness for virtualization : Describe the organization's environment, and evaluate its preparedness for virtualization.
How would go about estimating the potential liability : The Footnotes to the financial statements are also a form of disclosure. Should any amount not be accrued and only disclosed in the footnotes? Why bother?
Discuss the competitive advantages : In what way is the HR function important to the success of the everyday tasks in an organization? Discuss the competitive advantages that can accrue
Explain the basis of accounting for inventories : Explain the basis of accounting for inventories and apply the inventory cost flow methods- FIFO, LIFO, and average-cost-under a periodic inventory system.
Mobile devices-personal and company business : Mobile devices are always in the workplace and being used for both personal and company business.
Should a wetting agent be applied to the ceiling and walls : Complete the essay of the scenario-based case study. The essay should be a one- to two-page narrative focusing on arguments that support what the authors.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd