Indicate How TinyPart Would Disclose or Account for the Lawsuit

question 32

Essay

Indicate how TinyPart would disclose or account for the lawsuit described in part (d) under U.S. GAAP and under IFRS in the financial statements for the year ended December 31, 2013.

---

Definitions:

Co-workers

Individuals who work together in the same organization or on the same team, often sharing tasks and responsibilities.

Activities

Actions or tasks that individuals or groups undertake as part of their roles or functions within an organization.

Socialization

The process by which individuals learn and adopt the norms, values, behaviors, and social skills appropriate to their society or culture.

Human Resource Management

The strategic approach to effective management of organization workers so that they help the business gain a competitive advantage, often involving hiring, training, performance assessments, and employee relation strategies.