TAILIEUCHUNG - Lecture Intermediate accounting (Volume 1, IFRS edition): Chapter 13 - Kieso, Weygandt, Warfield

Chapter - Current liabilities, provisions, and contingencies. After completing this chapter you should be able to: Describe the nature, type, and valuation of current liabilities, explain the classification issues of short-term debt expected to be refinanced, identify types of employee-related liabilities, identify the criteria used to account for and disclose gain and loss other contents. | C H A P T E R 13 CURRENT LIABILITIES, PROVISIONS, AND CONTINGENCIES Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield Describe the nature, type, and valuation of current liabilities. Explain the classification issues of short-term debt expected to be refinanced. Identify types of employee-related liabilities. Explain the accounting for different types of provisions. Identify the criteria used to account for and disclose contingent liabilities and assets. Indicate how to present and analyze liability-related information. Learning Objectives Current Liabilities Provisions Presentation and Analysis What is a liability? What is a current liability? Recognition Measurement Common types Disclosures Presentation of current liabilities Analysis of current liabilities Current Liabilities and Contingencies Contingencies Contingent liabilities Contingent assets What is a Liability? Three essential characteristics: Present obligation. Arises from past events. Results in an outflow of resources (cash, goods, services). What is a Current Liability? Current liability is reported if one of two conditions exists: Liability is expected to be settled within its normal operating cycle; or Liability is expected to be settled within 12 months after the reporting date. LO 1 Describe the nature, type, and valuation of current liabilities. The operating cycle is the period of time elapsing between the acquisition of goods and services and the final cash realization resulting from sales and subsequent collections. What is a Current Liability? Typical Current Liabilities: Accounts payable. Notes payable. Current maturities of long-term debt. Short-term obligations expected to be refinanced. Dividends payable. Customer advances and deposits. Unearned revenues. Sales taxes payable. Income taxes payable. Employee-related liabilities. LO 1 Describe the nature, type, and valuation of current liabilities. Balances owed to others for goods, supplies, or services purchased on open .

• Kế toán - Kiểm toán
• Intermediate accounting
• Lecture Intermediate accounting
• Current liabilities
• Contingent assets
• Analysis of current liabilities
• Contingent liabilities
• Financial Accounting
• Accounting process
• Accounting equation
• Accounting processing cycle
• Stock issuance
• Estimating reserves
• Liquidating dividends
• Accounting changes
• Error corrections
• Accounting choices
• Theoretical structure
• Accrual accounting
• Financial accounting environment
• Accounting for leases
• Leasing environment
• Accounting by lessee
• Special accounting problems
• Cash versus accrual accounting
• International standard setting
• Accounting standards
• Accounting assists
• The challenges facing accounting
• Income taxes
• Accounting for income taxes
• Deferred tax liabilities
• Error analysis
• Accounting policy
• Accounting estimate
• Accounting policies
• Financial reporting
• Accounting information system
• Measurement issues
• Characteristics of accounting
• Capital allocation process