`(b) provisions are liabilities for the payment of goods or services received or delivered but not paid, invoiced or formally agreed with the supplier, including amounts due to staff (e.g. B amounts related to accrued vacation pay). Although it is sometimes necessary to estimate the amount or date of provisions, the uncertainty is generally much lower than for provisions. The expiration, waiver or termination of this Agreement (with respect to any of its provisions or in its entirety) is without prejudice to any rights that were conferred on either party under the Agreement prior to its expiration, waiver or termination. In Garratt vs. Ikeda1 NZLR 577 , no deposit had been paid at the time of cancellation. In this case, the right to acomptabilit was created regardless of the termination of the contract. Whether the contract was maintained or not, the account had to be paid; It is therefore an unconditional provision. The court ruled that the seller had the right to impose the payment of the deposit as an «unconditionally acquired right».
My employer`s leave directive provides that as soon as an employee earns 200 hours of leave, it is no longer possible to earn (accumulated) vacation until the leave balance falls below that level. Is it legal? For example, Company A may borrow a Company B in a one-year loan with an interest rate of 6% $100,000 Interest rateAn interest rate refers to the amount calculated by a lender to a borrower for each form of debt, usually expressed as a percentage of principal. to be paid at the end of the year at the same time as the full repayment of the capital. Each quarter of the year, Company A reports a turnover of 1,500 $US in the income statement and an equivalent amount as an asset in the balance sheet, although no inflow of funds is reported. It is only at the end of the year that the total amount of $6,000 will be paid and the assets associated with the balance sheet will be reduced by the amount of income accumulated so far. Delimited expenses are the opposite of prepaid expenses. Prepaid expenses are advance payments for goods and services that should be provided or used in the future. While accruing items are liability expenses, prepaid expenses are recognised as assets in the balance sheet. A delimited effort is an accounting concept that relates to an expense that is recorded in the books before it is paid.
the charges are recognised during the billing period in which it is in progress. . . .