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Hello MikeLittle. Thanks for the great work done always.
Can a company whose year end of 31 May 2017 recognize a provision in these scenarios;
If a company has a policy of undertaking painting all pedestrian crossing points on all its routes in major towns. That has been honoured for the last 10 years costing 17 million on average annually.
Where a company has a fleet of vehicles and according to the new transport regulations these vehicles should undergo a compulsory roadworthy inspection on an annual basis at a fee $ 128,000 per annum effective 1 January 2017.
I will be glad but Thanks open tuition for the good work done. Am sitting my F7 in September. Thanks
Pedestrian crossings – is our company in a contract? Does it have an obligation? Alternatively, has it raised the valid expectation in the minds of those affected?
Now let’s get down to practical matters … you can’t just go round your local town painting / re-painting pedestrian crossings! That’s the responsibility of your local town council and their Highways Department
So, in all honesty, it’s a hypothetical question that simply cannot bear any similarity to reality (certainly not in any of the countries where I have lived)
The fleet of vehicles – is our company in a contract? Does it have an obligation?
NO!
There’s no obligation until our company signs a contract for the independent roadworthy inspection entity to check our vehicles
Until that moment, our company could avoid the expense simply (!!!) by closing down its transport operation
You’ve told me the effective date of the requirement but you haven’t told me what today’s date is – so maybe we’re already passed the effective date
However, let’s get down to practical matters … new transport regulations are not issued at the drop of a hat, dependent upon the mood of the Minister for Transport
These new regulations must have been known about for some considerable time in advance 2? 3? years ahead of their coming into force
So how come our company is now facing an urgent decision as to whether or not to pay the $128,000 and continue for another year or close down its operations and start to sell fishing equipment to the local angling societies?
Further more, if this transport company is the same company that’s busy painting white lines on the pedestrian crossings on the local roads at a cost of $17 MILLION, what on Earth is it doing wondering whether to provide a meagre sum of $128,000? That’s 3/4 of 1% of its painting costs
Good luck in September … but I’ll probably hear from you before then 🙂
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