BUS 426 Chapter Notes - Chapter 21: Contingent Liability, Financial Statement, Costs In English Law

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sapphiresnake846

19 Sep 2012

School

Simon Fraser University

Department

Business Administration

Course

BUS 426

Professor

Michael Favere- Marchesi

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Document Summary

Contingent liability: a liability that arises due to an existing condition or situation involving uncertainty as to possible gains or losses: conditions for the existence of contingent liabilities: There is a potential future payment to an outside party that results from an existing condition. There is uncertainty about the amount of the future payment. Likely to occur and the amount can be estimated. Likely to occur and the amount cannot be estimated. Common procedures to search for contingent liabilities: inquire of management, review current and previous years" cra notices of assessment, review minutes and shareholders" meetings, analyze legal expense for the period under audit. If law firms don"t respond, its usually either: Lawyer aware of a significant loss and don"t want: two types of law suits: to disclose it. Outstanding claim: a lawsuit that has been brought against a client; also known as an asserted claim .

Related Questions

Assume that you have just been promoted to a new position where you have leadership responsibility. You have never had formal leadership responsibilities before, and you wish to maximize the possibility that you will be successful with this new responsibility. Reflect upon the major leadership theories and models.

Develop a Pro and Con list involving at least three of these theories/models.

Reflect on each theory and discuss how the theory fits with your own personal style. For example - with a contingency style of leadership, perhaps this would not fit with someone's style if that person believes that all subordinates should be treated identically.

Fiedler’s Contingency Theory Situational Leadership Path-Goal Theory of Leadership
Vroom and Yetton’s Normative Decision Model
(Theory a recent addition to the literature) Transformational leadership Leader-Member Exchange (LMX) Theory Servant Leadership Authentic Leadership

cornelia

Identify which human resources management activity is being illustrated in the following examples:

HR management activities:

staffing	compensation & benefits	training & development
compliance	employee relations

1) _________ An HR manager consults with an employee about her continuing education options.

2) _________ An HR manager solves a paperwork snag involving an employee's paycheck.

3) _________ A supervisor conducts a workshop on haw tn properly dispose of a certain chemical.

4) _________ An HR manager conducts an exit interview with retiring employee

5) _________ An HR manager mediates a conflict between an employee and his. 6)

6) _________ A manager conducts job orientation for several new employees.

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Case Study - 5

Breaking The Bargaining Pattern

Gilson steel is a local fabricating and supply firm. Situated in open country, far from the large steel making centers. The firm has been in business many years. About the third of employees have worked in the organization for more than ten years. Top management would like to get away from the current practice in which negotiations on wage matters and fringes follow the pattern. The firm’s president feels that industry – wide bargaining tends to divorce employees from the firm. He thinks they feel that their employer is a combination of U.S steel and bethlem steel instead of Gilson. He argues that the local firm which has prospered can do better by employees than is possible in national pattern. He says that the local conditions should be considered. His basic objection to current practice, however, is his conviction that it tends to divorce its employees from local employer. The labor relations manager has been urged to try negotiating terms at variance with the national pattern.

Answer the following questions: ·

What theory and policy do you read into the president’s suggestion? ·
How will his ideas fit into the existing pattern of public union policy? ·
Can you suggest a promising innovative approach?

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BUS 426 Chapter Notes - Chapter 21: Contingent Liability, Financial Statement, Costs In English Law

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