TAILIEUCHUNG - Lecture Financial reporting and analysis (6/e) - Chapter 11: Financial instruments as liabilities

Chapter 11: Financial instruments as liabilities. After reading this chapter, you should be able to answer the following questions: How liabilities are shown on the balance sheet? Why and how bond interest and net carrying value change over time? How and when floating-rate debt protects lenders? How debt extinguishment gains and losses arise, and what they mean? | Financial Instruments as Liabilities Revsine/Collins/Johnson/Mittelstaedt/Soffer: Chapter 11 Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education Learning objectives How liabilities are shown on the balance sheet. Why and how bond interest and net carrying value change over time. How and when floating-rate debt protects lenders. How debt extinguishment gains and losses arise, and what they mean. How the fair value accounting option can reduce earnings volatility. 11- Learning objectives: Concluded How to find the future cash payments for a company’s debt. Why statement readers need to be aware of off-balance sheet financing and loss contingencies. How futures, swaps, and options contracts are used to hedge financial risk. When hedge accounting can be used, and how it reduces earnings volatility. How IFRS guidance for long-term debt, loss contingencies, and hedge accounting differs from . GAAP. 11- Overview of liabilities The FASB says: This means a financial statement liability is: An existing obligation arising from past events, which calls for Payment of cash, delivery of goods, or provision of services to some other entity at some future date. Liabilities are probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or to provide services to other entities in the future as a result of past transactions or events. Not all economic liabilities qualify as financial statement liabilities Monetary liabilities Payable in fixed amount of future cash Nonmonetary liabilities Satisfied by delivering goods or services 11- Overview of liabilities: Balance sheet illustration, Oracle Corp. Obligations due within one year or within operating cycle, whichever is longer 11- Total long-term debt Bonds payable: Characteristics of bond cash flows A bond is a formal promise to repay both the amount .

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