Applying Information a. Where do you get the information needed to make a journal entry? b. How do you determine the debit and credit parts of a journal entry?
Chapter 3: Introduction to risk management I. Meaning of Risk Management Risk management is a process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures. A loss exposure is any situation or circumstance in which a loss is possible, regardless of whether a loss occurs. E.g: a plant that may be damaged by an earthquake, or an automobile that may be damaged in a collision. II. Objectives of Risk Management Risk management has important objectives before and after a loss occurs: classified as pre and post loss objective. A. Pre-loss Objectives: prepare for potential losses in the most economical way.