gross misconduct

(noun)

Violence, serious negligence, repeated insubordination, fraud in the job application process, harassment of co-workers or drug use in the workplace.

Examples of gross misconduct in the following topics:

  • Employee Dismissal

    • Gross misconduct offenses, such as violence, serious negligence, repeated insubordination, fraud in the job application process (whenever it is discovered), harassment of co-workers, or drug use at work are grounds for immediate dismissal.

  • Gross Profit Method

    • The gross profit method uses the previous year's average gross profit margin to calculate the value of the inventory.
    • Keep in mind the gross profit method assumes that gross profit ratio remains stable during the period.
    • Determine the gross profit ratio.
    • Gross profit ratio equals gross profit divided by sales.
    • Use projected gross profit ratio or historical gross profit ratio whichever is more accurate and reliable.

  • Cost of Goods Sold and Gross Profit

    • Gross profit or sales profit is the difference between revenue and the cost of making a product or providing a service.
    • In accounting, gross profit or sales profit is the difference between revenue and the cost of making a product or providing a service before deducting overhead, payroll, taxation, and interest payments.
    • Explain the difference between cost of goods sold and gross profit

  • Profit Margin

    • Since there are two types of profit (gross and net), there are two types of profit margin calculations.
    • Recall that gross profit is simply the revenue minus the cost of goods sold (COGS).
    • Net profit is the gross profit minus all other expenses.
    • The gross profit margin calculation uses gross profit and the net profit margin calculation uses net profit .
    • The percentage of net profit (gross profit minus all other expenses) earned on a company's sales.

  • Whistleblower Protection

    • A whistle-blower tells the public and/or the authorities about alleged misconduct occurring in a government department, private company, or organization.
    • The alleged misconduct may take a variety of forms; for example, a violation of a law, rule, or regulation, or a direct threat to public interest, such as fraud, health and safety violations, or corruption.

  • Recording Sales

    • Net sales are gross sales minus sales returns, sales allowances, and sales discounts.
    • In financial ratios that use income statement sales values, "sales" refers to net sales, not gross sales.
    • Gross sales are the sum of all sales during a time period.
    • Net sales are gross sales minus sales returns, sales allowances, and sales discounts.
    • Gross sales do not normally appear on an income statement.

  • Gross Domestic Product

    • Under economic theory, GDP per capita exactly equals the gross domestic income (GDI) per capita.
    • consumption + gross investment + government spending + (exports − imports)
    • Estimating the gross value of domestic output in various economic activities;
    • Deducting intermediate consumption from Gross Value to obtain the Net Value of Domestic Output.
    • If GDP is calculated this way, it is sometimes called Gross Domestic Income (GDI).

  • Calculating GDP

    • Gross domestic product is one method of understanding a country's income and allows for comparison to other countries .
    • where C is the level of consumption of goods and services, I is gross investment, G is government purchases, X is exports, and M is imports.
    • Deducting intermediate consumption from gross value to obtain the net value of domestic output.
    • Net value added = Gross value of output – Value of intermediate consumption.
    • Gross value of output = Value of the total sales of goods and services + Value of changes in the inventories.

  • Other Approaches to Calculating GDP

    • Gross domestic product provides a measure of the productivity of an economy specific to the national borders of a country .
    • GDP calculated in this manner is sometimes referenced as "Gross Domestic Income" (GDI).
    • GDP = compensation of employees + gross operating surplus + gross mixed income + taxes less subsidies on production and imports.
    • Gross operating surplus (GOS) is the surplus due to owners of incorporated businesses.
    • Gross mixed income (GMI) is the same measure as GOS, but for unincorporated businesses.

  • Checks and Balances

    • One of the more famous recent pardons was granted by President Gerald Ford to former President Richard Nixon on September 8, 1974, for official misconduct which gave rise to the Watergate scandal.
    • One of the more famous recent pardons was granted by President Gerald Ford to former President Richard Nixon on September 8, 1974, for official misconduct that gave rise to the Watergate scandal .