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In finance, a revaluation of fixed assets is an action that may be required to accurately describe the true value of the capital goods a business owns. [1] This should be distinguished from planned depreciation, where the recorded decline in the value of an asset is tied to its age.
The Restatements of the Law is one of the most respected and well-used sources of secondary authority, covering nearly every area of common law. While considered secondary authority (compare to primary authority), the authoritativeness of the Restatements of the Law is evidenced by their acceptance by courts throughout the United States.
Due to the risk of liability, CPAs and accounting firms may carry professional liability insurance to provide some protection from legal claims and lawsuits, although some firms choose to self-insure. [4] Concerns about high damage awards and insurance costs have led to proposals to limit liability for public accounting firms. [5]
HickoryTech Announces Restatement of Financial Statements Related to Accounting for Interest Rate Swaps under FASB ASC 815 Interest expense corrected, does not affect cash flows MANKATO, Minn ...
A life tenant who is granted an estate "without impeachment of waste" (may not be sued for waste) may not commit acts of flagrant destruction inconsistent with the fruitful use of the land. For example, a mansion may not be stripped of its glass, timber or pipes ( Vane v Lord barnard ), nor may trees of an ornamental value be cut down by the ...
For example. A promises to deliver certain goods to B after a week. B promises to pay the price after a fortnight, such consideration is future. Consideration must be real. Consideration must be real, competent and having some value in the eyes of law. For example, A promises to restore life to B's dead wife, if B pays him Rs.1000/—.
The Restatement (Second) of the Law of Contracts is a legal treatise from the second series of the Restatements of the Law, and seeks to inform judges and lawyers about general principles of contract common law.
Milton Friedman made a restatement of the theory in 1956 and made it into a cornerstone of monetarist thinking. The theory is often stated in terms of the equation M V = P Y , where M is the money supply, V is the velocity of money , and P Y is the nominal value of output or nominal GDP ( P itself being a price index and Y the amount of real ...