When a business is started, except for terminable or temporary projects inaugurated for a specific purpose, it is assumed that the business unit will continue to operate for a long time in pursuit of its objectives. Explanation of Going Concern Concept Under this accounting concept we assume that the business is to remain in existing for as long as possible time period, unless we have some strong footings suggesting otherwise.
Support for vocational further education from the German Federal Labour Agency. Subsistence payments by the Federal Labour Agency.
Hartz II New types of employment, Minijob and Midijobwith lower or gradually rising taxes and insurance payments.
A rise in the number of job centres. Hartz IV[ edit ] The fourth stage of the reform was voted in by the Bundestag on December 16, and by the Bundesrat on July 9,to take effect by January 1, This part of the reforms brought together the former unemployment benefits for long-term unemployed 'Arbeitslosenhilfe' and the welfare benefits 'Sozialhilfe'leaving them both at approximately the lower level of the former Sozialhilfe social assistance.
Couples can receive benefits for each partner plus their children. Sinceeligibility for the full unemployment benefit renamed Arbeitslosengeld in and commonly referred to as Arbeitslosengeld I in everyday German to contrast it with the lower benefits discussed below has been restricted to 12 months in general, 15 months for those aged 50 or older, 18 months for those 55 or older and 24 months for those 58 or older.
This is now followed by the usually much lower Arbeitslosengeld II Hartz IV benefits if the claimant meets eligibility requirements. Whether or not a claimant is eligible for Arbeitslosengeld II depends on his or her savings, life insurance and the income of spouse or partner.
If these assets are below a threshold level, a claimant can get money from the state. To receive payments, a claimant must agree to a contract subject to public law. This contract outlines what they are obliged to do to improve their job situation, and when the state is obliged to help.
An unemployed person may be required to accept any kind of legal job. This compulsion is restricted by constitutional rights, like freedom of movement, freedom of family, marriage and human dignity. If taking on a specific placement is deemed reasonable by the responsible agency, not applying will result in a reduction or even complete suspension of the appropriate payment.
Within the Arbeitslosengeld II schemes, the state covers the health insurance of the unemployed. Until the end ofpayments towards the pension scheme of the claimant were also made. It is possible to earn income from a job and receive Arbeitslosengeld II benefits at the same time.
Job income is debited from Arbeitslosengeld II payments according to a formula that leaves a certain amount of the additional revenue untouched. Through this mechanism Arbeitslosengeld II can be regarded as a sort of minimum wage floor for employees without assets, where the minimum wage is not fully paid by the employer but assured by the state.
There are criticisms that this defies competition and leads to a downward spiral in wages and the loss of full-time jobs. The Hartz IV reform merged the federal level unemployment agency with the local level welfare administration.
This facilitated a better, case-oriented approach to helping unemployed people find work and improve their situations. The plan's objective is to reduce caseloads from unemployed persons per agent to not more than 75 aged 25 or lessor not more than persons over the age of For difficult cases, dedicated case managers may be deployed.
Legally, however, the agencies remain separate. The Hartz IV reforms continue to attract criticism in Germany, despite a considerable reduction in short- and long-term unemployment. This reduction has led to some claims of success for the Hartz reforms. Others say the actual unemployment figures are not comparable because many people work part-time or are not included in the statistics for other reasons, such as the number of children that live in Hartz IV households, which has risen to record numbers.
About 7 million people get Hartz IV benefits, of which 2. Meanwhile, Hartz IV has become a synonym for the class of non-working poor and is used as a prefix in multiple contexts i.The concept of gross working capital refers to the total value of current assets.
In other words, gross working capital is the total amount available for financing of current assets. However, it does not reveal the true financial position of an enterprise. Amira Nature Foods is one of the very few net-nets in the present market, trading below one third of its net current assets.
It has compounded its net current assets per share at an astonishing.
A company's creditors will often be interested in how much that company has in current assets, since these assets can be easily liquidated in case the company goes bankrupt.
In addition, current assets are important to most companies as a source of funds for day-to-day operations. Current assets mean the assets which can be converted into cash easily or within one accounting period. It helps in determining the return on investment in working capital and providing correct amount of working capital at right time.
Current assets represent the value of all assets that can reasonably expect to be converted into cash within one year. Current assets are separated from other resources because a company relies on its current assets to fund ongoing operations and pay current expenses.
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