TAILIEUCHUNG - Lecture Financial and managerial accounting (4/e): Chapter 9 - Wild, Shaw, Chiappetta

Chapter 9 - Current liabilities. The goals of this chapter are: Describe current and long-term liabilities and their characteristics, identify and describe known current liabilities, explain how to account for contingent liabilities, compute the times interest earned ratio and use it to analyze liabilities,. | Financial and Managerial Accounting Wild, Shaw, and Chiappetta Fourth Edition McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 9 Current Liabilities Conceptual Learning Objectives C1: Describe current and long-term liabilities and their characteristics. C2: Identify and describe known current liabilities. C3: Explain how to account for contingent liabilities. 9- A1: Compute the times interest earned ratio and use it to analyze liabilities. Analytical Learning Objectives 9- P1: Prepare entries to account for short-term notes payable. P2: Compute and record employee payroll deductions and liabilities. P3: Compute and record employer payroll expenses and liabilities. P4: Account for estimated liabilities, including warranties and bonuses. P5: Appendix 9A – Identify and describe the details of payroll reports, records, and procedures (see text for details). Procedural Learning Objectives 9- Past Present Future Defining Liabilities Because of a past event . . . The company has a present obligation . . . For future sacrifices C 1 9- Expected to be paid within one year or the company’s operating cycle, whichever is longer. Classifying Liabilities Current Liabilities Expected not to be paid within one year or the company’s operating cycle, whichever is longer. Long-Term Liabilities C 1 9- Uncertainty in Liabilities Uncertainty in Whom to Pay Uncertainty in When to Pay Uncertainty in How Much to Pay C 1 9- Accounts Payable Sales Taxes Payable Unearned Revenues Short-Term Notes Payable Known Liabilities Payroll Liabilities Multi-Period Known Liabilities C 2 9- Employers incur expenses and liabilities from having employees. Payroll Liabilities P2 9- FICA Taxes Medicare Taxes Federal and State Unemployment Taxes Employers pay amounts equal to that withheld from the employee’s gross pay. Employer Payroll Taxes P3 9- Multi-Period Known Liabilities Often include unearned revenues and notes payable. Unearned revenues from magazine subscriptions often cover more than one accounting period. A portion of the earned revenue is recognized each period and the unearned revenue account is reduced. Notes payable often extend over more than one accounting period. A three-year note payable would be classified as a current liability for one year and a long-term liability for two years. P3 9- Accounting for Contingent Liabilities 9- C3 End of Chapter 9 9- Some of you may have borrowed money to attend college, or you may borrow money soon to finance major purchases like a home or car. Investing in yourself is one of the best investments you can ever make. A solid knowledge about the calculation of interest and the specific terms of debt obligations will help you in the future. We hope you found this chapter on current liabilities and the basics of payroll accounting interesting and useful.

• Tài chính doanh nghiệp
• Managerial accounting
• Lecture Financial and managerial accounting
• Financial statements
• Managerial decisions
• Current liabilities
• Uncertainty in liabilities
• Managerial accounting for managers
• Lecture Managerial accounting
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Kế toán quản trị
• Managerial accounting information
• General cost classifi cations
• Product costs
• Process costing
• Standard costing systems
• Accounting information
• Managerial decision
• Process management
• Financial statement
• Cost concepts
• Managerial accounting basics
• Managerial cost
• Period costs
• Financial accounting
• Dynamic business environment
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Relevant costing
• Accounting activities
• Business activities
• Income statement
• Accounting cycle
• Accounting for merchandising operations
• Merchandising operations
• Capital budgeting decisions
• Time value of money
• Income taxes
• After tax cost