Why Depreciate Fixed Assets? Fixed assets are items that a company purchases for long term use in the business. Vehicles, machinery, equipment, furniture, land, etc. are some examples of fixed assets. The article discusses the rationale behind calculating depreciation of fixed assets. Depreciation of Fixed Assets Fixed assets must be revalued regularly to ensure that the right cost is included in the accounting books. Depreciation is very much necessary for fixed assets because the fixed asset would
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MEDIA REPORT ANALYSIS [1702 words] 1. Identify areas of law addressed in the chosen media report, and explain how they are relevant to the matters outlined in the report. This chosen article reports on the prosecution of the directors of a medical practice company called Medical Centre 2000 at Liverpool in Sydney for discriminating against a visually-impaired employee and underpaying her more than $20,000 for about 3 years. Civil Law Civil law can be illustrated in this case when workplace
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to ensure our corporations at Fitzgerald foods, follows our legal duties as a corporation. Preventing our employees from conducting unlawful actions, breaching actions and any other acts of breaking legal acts inside our corporation. In recent events we have had legal issues with previous directors and officers, the intent of the policy is to raise awareness houtou our staff and prevent future cases from occurring with our directors and officers. 2. SCOPE a. This policy is affecting the current
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declared regarding the main role of the chairman in the board meeting of a company. The power and responsibilities that are given to the directors and chairman are distinct from one another. In addition, he claimed that he wouldn’t be able to assist for the position of active director in the board meeting. Thereby, this breach should not be deliberated as director duty breach (Young and
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the Central Intelligence Agency (CIA) were a number of ethical dilemmas faced by the director. Based on White’s case study there will be four ethical dilemmas mentioned, concerns of prioritization, strategies of competing ethical obligations, and an ethical map discussed. The fall of the CIA and George Tenet was an ethical labyrinth in which no man would have survived unscathed. George Tenet served as the Director of the Central Intelligence Agency (DCI) from 1997 until 2004. His role as DCI included
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litigation of $10m was made against Gallop Inc concerning personal injury on a 9years old boy who was allegedly injured while using Gallop Inc. most popular product. 3) A press release was to be made. But before it was released, the VP Marketing, a director and an outside counsel sold their Gallop shares at the prevailing market price. 4) A copy of the soon to be publicly disclosed press release on this claim fell into the hands of the Collin, who runs the copy machines for Gallop. 5) He contacted
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A guide to directors’ duties and responsibilities for non-listed public companies and proprietary companies in Australia Contents 1 Executive summary 1.1 1.2 2 Sources of company law in Australia Summary 1 1 1 2 2 2 3 3 3 4 5 6 6 6 7 7 7 8 8 9 9 9 11 12 Common law duties 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Duty to act bona fide (In good faith) in the interests of the company as a whole Duty not to act for an improper purpose Duties of care and diligence Duty to retain discretion Duty to avoid conflicts
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breaches of her common law or statutory duty of care and diligence as a director One of the issues raised in the case study is whether Rachael has breached her duties as a director under the common law or statutory duties. Statutory duties are enforced by ROC while common law duties are enforced by the company according to its Memorandum of Association (MOA) and Article of Association (AA) (Mohd Sulaiman & Bidin, 2008). Common law duties are owned by the directors and they must act in the best interest
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Lec 6: Ch 10 (the role of company directors and other officers and the means by which they are appointed and removed); main focus is on the directors * ‘officer’ and ‘director’ definition- s9, p200 (Morley v ASIC). * ‘director’- a) appointed director regardless of the name given to their position; b) not validly appointed director but acts in position or; c) not validly appointed but the directors of the company are accustomed to act in accordance with the person’s instructions and wishes;
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CMS_LawTax_CMYK_28-100.eps Duties & Responsibilities of Directors September 2012 With increased consolidation of business across Europe, executives of multinational groups can find that they are required to become directors of companies in a variety of jurisdictions, often at short notice. The rules relating to directorships vary considerably from jurisdiction to jurisdiction. This guide is intended to provide an overview of the duties and responsibilities of directors across 23 countries in Europe
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