Unit 4 – Discussion Board
Accounting for Managers(ACG510-2401B-02)
Kristofer Johnson
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UNIT 4 – DISCUSSION BOARD
Fri 3/8/2024 9:12 PMLikeUnit 4 – Discussion Board Like PostFlagUnit 4 – Discussion Board Flag Post
Hello class,
I hope all is well.
As a manager, reviewing a list of contingent liabilities is a crucial task in ensuring the accuracy and transparency of a company’s financial statements. Contingent liabilities are potential obligations that may arise in the future, depending on the outcome of certain events. These liabilities can have a significant impact on a company’s financial health, and it is the responsibility of the manager to carefully review and determine their probability. The first step in reviewing the list of contingent liabilities would be to gather all the necessary information. This includes understanding the nature of each liability, the potential amount, and the likelihood of it occurring. The information can be obtained from various sources such as contracts, legal documents, and discussions with relevant departments. It is essential to have a thorough understanding of each liability to accurately assess its probability.
Once all the information is collected, the next step would be to evaluate the likelihood of each liability occurring. This can be done by considering past experiences, industry trends, and expert opinions. It is also essential to consider any potential risks that could impact the outcome of the liability. For example, if a contingent liability is dependent on the success of a new product launch, it is crucial to assess the risks associated with the product’s performance in the market. As a manager, it is also essential to review the company’s financial history and current financial position. This can provide insights into the company’s ability to handle the contingent liabilities and their potential impact on the financial statements. It is also crucial to consider any existing reserves or insurance coverage that could mitigate the impact of these liabilities.
In addition to evaluating the probability of each contingent liability, it is also essential to assess the potential impact on the company’s financial statements. This includes determining the potential amount of the liability and how it would affect the company’s assets, liabilities, and equity. It is vital to consider the worst-case scenario and its impact on the company’s financial stability. After carefully reviewing all the information and assessing the probability and impact of each contingent liability, the next step would be to document the findings and make appropriate disclosures in the financial statements. As a manager, it is important to ensure that all relevant and material contingent liabilities are properly disclosed to provide stakeholders with a clear understanding of the company’s financial position.
In conclusion, reviewing a list of contingent liabilities requires a thorough understanding of each liability, evaluating its probability and impact, and making appropriate disclosures in the financial statements. As a manager, it is crucial to approach this task with diligence and accuracy to ensure the company’s financial statements are transparent and reliable. By carefully reviewing and determining the probability of each contingent liability, managers can make informed decisions that protect the company’s financial health.
Sonia Greenlee
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UNIT 4 – DISCUSSION BOARD
Fri 3/8/2024 7:03 PMLikeUnit 4 – Discussion Board Like PostFlagUnit 4 – Discussion Board Flag Post
Hello classmates.
As a manager revieing contingent liabilities, I would first assess the nature and likelihood of each liability. This involves analyzing past trends, industry standards, and expert opinions to gauge the probability of occurrence. Next, I would categorize liabilities or high probability factors such as pending legal cases, regulatory changes, and market conditions would be considered. Additionally, I would consult with legal and financial experts to ensure a comprehensive evaluation. Finally, I would prioritize actions based on the level of risk each liability poses to the company and develop mitigation strategies accordingly. (Austin Anderson 1-24-2024)
Other ways to determine probability are historical data analysis reviewing past occurrences of similar liabilities to identify patterns and trends that can help estimate the likelihood of future events. Expert opinions, consulting with industry experts, legal advisors, and financial analysts who can provide insights and assessments based on their experience and expertise.
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Employment Law:MGT555
Ibrahim Vandi
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RE: UNIT 4 – DISCUSSION BOARD
Sat 3/9/2024 11:58 AMLikere: Unit 4 – Discussion Board Like PostFlagre: Unit 4 – Discussion Board Flag Post
Hi Jami
Thank you for your post as you said that the employer would have verify Carlia’s brother identity and eligibility. The immigration reform and control Act of 1986 section 274 A (a) stated that it is unlawful for a person or other entity to hire or recruit. for an employment in the U S an alien knowing the alien is unauthorized alien with respect to such employment or to hire for an employment in the U S an individual without verification of employment eligibility.
Secondly, we don’t know what position was advertised that might require English proficiency that is required of him to perform the work effectively. EEOC stated the degree of English proficiency comes from job to Job or didn’t require it. Despite his English proficiency problem, he must have claimed he was qualified for the position or to show that he meets the requirement of the Job.
Third, the other argument whether the job require those that can speak little English that has little reason to speak in order to carry out his duties and to understand what is said to him such as a Janitor. Claria’s brother employment decision was based on his accent or his speech characteristics. due to his natural origin which was directed as an evidence of employment discrimination sufficient to shift the burden of proof to the employer.
Reference
Dawn , D. Bernett – Alexander /Laura , Hartman ( 2022 ) Employment Law For Business (9th edition)
Bruce , Fried & Myron , D. Fottler (2015) Human Resources in Health care: Managing for Success ( 4th edition)
MGT555-2401B-02
Griselda Santander
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UNIT 4 – DISCUSSION BOARD
Tue 3/5/2024 11:10 AMLikeUnit 4 – Discussion Board Like PostFlagUnit 4 – Discussion Board Flag Post
Unit 4 Discussion Post
The Immigration Reform and Control Act (IRCA) of 1986 was created and adopted to address issues related to employment eligibility, immigration, and the legal status of workers in the United States of America (Yale-Loehr, 2018). An important tenet of the IRCA is its prohibition against employment discrimination based on citizenship status or national origin, except where required to adhere to outlined laws, government contracts, executive orders, or regulations (Yale-Loehr, 2018). Similarly, the act also requires that employers must ascertain the identity and employment eligibility of all staff members, meaning it is illegal for them to employ or hire people who do not have legal authorization to work in the United States of America.
           The rejection of Carla’s brother by the casino on the basis of his ‘choppy English’ raises concerns and questions regarding IRCA’s anti-discrimination doctrines. If the requirement for fluent English is not directly connected to the important roles of the job he has applied for, then this rejection can be deemed discriminatory in nature based on his national origin. However, if fluency in English is considered to be a legitimate occupational requirement affirmed by the employer, especially in positions requiring proper communication skills, then the casino’s decision can be justified (Bean & Khuu, 2020).
           It is imperative to ascertain the specific job requirements and the role that English as a language has in conducting essential functions (Yale-Loehr, 2018). In a situation where the casino has not confirmed or communicated that English fluency is a requirement across all staff members or if the requirement is stricter than necessary for the performance of a role, it can be argued that Carla’s brother experienced discrimination that goes against IRCA’s principles. While the IRCA aims to prevent unauthorized employment, it is also focused on protecting people from any form of discrimination based on their national origin.
References
Bean, F. D., & Khuu, T. V. (2020). The context and consequences of the 1986 Immigration Reform and Control Act (IRCA). Oxford Research Encyclopedia of American History. https://doi.org/10.1093/acrefore/9780199329175.013.645
Yale-Loehr, S. W. (2018). Employers as junior immigration inspectors: The impact of the 1986 Immigration Reform and Control Act. https://doi.org/10.31228/osf.io/n8d2x
Andrea Graham
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UNIT 4 – DISCUSSION BOARD
Wed 3/6/2024 6:51 PMLikeUnit 4 – Discussion Board Like PostFlagUnit 4 – Discussion Board Flag Post
Hello class,
The Immigration Reform and Control Act (IRCA), of 1986 requires all employers to verify an employees identity and eligibility to work in the Untied States. (American InterContinental University, 2023).
In this scenario of Carla’s brother being rejected from employment at the casino due to his choppy English, it could potentially raise concerns under the IRCA if his language skills were the sole reason for his denial of employment. Discrimination based on language may be viewed a form of national origin discrimination, which is prohibited.
In the case of undue hardship, Carla’s brother’s language needs could be considered undue hardship for the casino, due to the nature of the job. If the position requires effective communication in English for security, then the employer has a valid requirement. The casino should evaluate whether reasonable accommodations, such as language training or assistance, could be provided without causing difficulty or expense. If providing language assistance doesn’t impose a burden on the casino, it may be considered a reasonable accommodation to help Carla’s brother overcome language barriers and fulfill the requirements of the job.
He may a claim if his choppy English was the only reason why he didn’t get the job, then he could potentially have a case against the casino due to his national origin.
