Bookkeeping

However, both old and recent cases contain exceptions which cannot be neatly categorized and are quite wide and uncertain. The creditors must go against the company and it is only if the company is being wound up and there is some evidence of fraud that they may possibly have recourse against the shareholders. Another circumstance […]

xii It follows that a parent company is not the agent of its subsidiaries and vice versa. Thus, the principle of separate legal personality is admitted also for group companies or, as defined by Moore, for “multinational inter-corporate group enterprise”. xiii This relation is established between two completely different legal entities, a parent company and subsidiaries, with

We often conform to the beliefs and behaviors of others in order to fit in and avoid conformity examples being ostracized. This need for acceptance is deeply rooted in our evolutionary history as social beings. Understanding conformity is crucial for navigating society and maintaining personal identity. Understanding Social Conformity This tendency highlights how peer pressure

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As an example, let’s consider the case of a consumer that wants to use ACH to pay a utility bill each month. The data for this debit entry is sent through an ACH Operator (usually the Federal Reserve Bank) as part of a batch transfer, usually at the end of the day. Consider using a

A key feature of finance leases is that the lessee often has the option to purchase the leased asset at a bargain price at the end of the lease term. The lessee returns the asset to the lessor at the end of the lease, and the lessor retains all rights to the asset. Under ASC

Standard costing is an accounting method that uses predetermined costs for materials and labor to value inventory and calculate the cost of goods sold. Variance analysis is then used to compare actual results to the Standard to identify where differences exist. Although there are many potential causes of standard cost variances, they are typically the