Liability Essays

Operating and Non-Operating Liabilities Operating liabilities arise from ordinary operations and provide a less expensive source of financing for companies. Attachment 32 (page XXX) shows the operating and non-operating liabilities for Dollar Tree and Dollar General. Dollar Tree’s operating liabilities as a percentage of total liabilities were 57.52% in the fiscal year 2014, 51.92% in fiscal year 2013, 74.99% in fiscal year 2012, and 73.02% in fiscal year 2011. The percentages have decreased

Liability is the kind of risk face in a small business because Liability is a major concern for sole proprietors; the reason is that the owner is liable personally for claims against the business. Unlike an LLC or corporation, if by any chance I find myself in a lawsuit as a sole proprietor, losses a lawsuit or otherwise find myself in debt, it’s not only the business that will be liable for the debt, but the owner which is the sole proprietor will be as well. And being a sole proprietor, one of

Advantage of LLPs. The major advantages of Limited Liability Partnership are listed below: a) Limited Liability: Unlike a general partnership, an llp is a separate legal entity from its partners. Thus the partners are not held liable for the liabilities of the llp. Any debts or liabilities against the company shall not be required to be paid at the cost of partner 's assets. Whereas in general partnership the partners share the profit as well as the losses of the partnership b) Flexibility: LLP enjoy

Corporate Shield of Liability For centuries business structures have been utilized for Asset Protection Planning. A corporation is normally a very effective way to shield one's personal assets from liability resulting from the operation of a business. Normally, the shareholders of the corporation are only liable to the extent of their investment in the corporation. However, officers, directors and employees can be personally liable for their conduct relative to the operation of the business and

The most promulgated benefits of forming a limited liability company emanates from the tenets of autonomy in law. This autonomy bestows numerous advantages to a business owner and in the case of real estate investing; its multifaceted dynamics implies the need to strive for this independence. Advantages of forming LLC to own real estate investments 1. Legal independence A limited liability company is a separate entity from the individual who owns it. This means that in case legal questions are to

Because there was more than one owner, a sole proprietorship was not appropriate. A general partnership would lead to individual member liability: Since the deli failed, this would have subjected the partners to significant personal liability. A limited liability company, closely held corporation, or S corporation would both protect owners from personal financial liability. As the deli failed, this would be a benefit. An S corp would offer additional tax benefits, such as allowing investors to deduct

An S Corporation and a Limited Liability Company (LLC) have several similarities such as avoiding double taxation. However, these two types of structuring a business have some differences, which in the long term can be very important. An S corporation is the best option for small businesses instead of a limited liability company for several reasons. First the S corporation is a corporation elected by the IRS that has existed for years while LLC is the youngest business structure, some of its laws

have total liabilities of 37.51% with respect to the total asset of the company. It imply around the ratio of debt to assets is 3:10 in 2010. In 2009, the debt-assets ratio was 29.81%. It imply the debt-asset ratio of the company have an increase of 7.7% from 2009 to

“Breach of duty in negligence liability may be found to exist where the defendant fails to meet the standard of care required by law. Once it has been established that the defendant owed the claimant a duty of care, the claimant must also demonstrate that the defendant was in breach of duty. The test of breach of duty is generally objective, however, there may be slight variations to this”. While using the objective test also referred to as the reasonable man test to determine negligence in breach

Answers for Candy a) Type of information each financial statement provides • Balance sheet Balance sheet reported assets, liabilities and stockholders' equity. Assets represent all the elements that a company owns and uses to generate revenue. Liabilities include money owed to creditors of assets or other financing purposes. The assets include investments made in the business or the capital invested by the owners (Collier, 2015). • Income statement The income statement reports the profit of the

or loss by comparing the revenues with its expenses. The information listed on the income statement is mostly in relatively current dollars, and so represents a reasonable degree of accuracy. However, it does not reveal the amount of assets and liabilities required to generate a profit, and its results do not necessarily equate to the cash flows

conception of balance sheet and examined its elements and structure. Lan organized some fundamental definitions which are included in balance sheet and explain about the form of balance sheet very specifically. To summarize this article, assets, liabilities, and equity are main elements of the balance sheet and the balance sheet not only provides a snapshot of the company during the financing period, but also presents the total effect of all of these transactions at a specific date. The article is

A current liability on Extreme Sports Nutrition’s balance sheet is made up of accounts payable. Accounts payable is the company’s responsibility to pay off their on-going short-term debt to their creditors or suppliers. Other current liabilities listed on the balance sheet are customer deposits and accrued expenses. An accrued expense is when goods and services have already been delivered, but not yet billed, and now it is the company’s obligation to pay off their expenses in the future. Customer

When being placed in the role of a manager, it is important to understand the finances of the organization and how to read and understand the recording of finances. It is also important to understand how all the different parts of the records fit together to give us the knowledge of where the business is financially. Knowing also the different responsibility centers related to financial recording and how they function is important as a manager. Once a manager understands what and where items belong

However, LoF is not new. Previous literature on the domain of international business has recognized the concept of liability of foreignness (Gaur, Kumar, and Sarathy, 2011), which was initially conceptualized by Hymer (1960/1976) as the costs of doing business abroad. (Gaur, Kumar, & Sarathy, 2011.) According to Hymer (1976), companies engaging in international business

The purpose of this assignment is to give a close attention to the financial perspective of the Mdelic Wasatch Outerwear as we examine past and current financial data and evaluate company's performance and financial position. In order to evaluate a company, we need to go beyond the numbers mentioned in financial statements. Investors, managers, creditors and others need to analyze various aspects of financial statements so they can invest, manage and do business more effectively with

Solution : Introduction: A budget is an estimation of particular commodity, quantity etc. It can be prepared for any number of days but generally it is prepared wither for a year or quarter... A budget may or may not become the actual outcome. A sales budget can be defined as a projection of how much a particular business or organization will be able to sell its product within a Year. It is always an anticipated. Budgets serve as a framework and help managers to estimate likely incomes and expenditures

Let's face it, wedding photography is one of the most challenging industries to get involved in not to mention one of the most competitive. My first words of advice to you will be -- "why would anyone want to enter wedding photography"? There are way too many things that can go wrong and you simply cannot re-shoot the day without redoing the whole event. But I have good news for you because the two solutions are using green screen with chroma key technology to eliminate the errors and learning digital

Budget: The budget will be based on $25,000.00 for the GED program. The GED program will be funded by a non-profit organization with a budget of $25,000.00. Out of this budget for the GED program, it will pay for staff salaries, fringe benefits, traveling expense, equipment for the program, materials and supplies, consultant and contractual services, and miscellaneous, which should equal to $25,000.00. Salaries & Wages (Director, Asst. Director & Secretary). $17,000.00. Fringe Benefits (Stipend)

Steve Dunleavy was invited to come up to the podium to speak on behalf of the Republic Services Update stated in the agenda. Republic Services is a waste service company who collects trash and recycling around Morgantown. Previously a soldier in Iraq and a Special Olympics coach who resided in Boston with his family, Dunleavy has been with the company for 90 days, and started by explaining the progresses in the company has made within that time. These advances include stabilization of their world-class