TAILIEUCHUNG - Lecture Intermediate accounting (IFRS 2nd edition): Chapter 13 - Kieso, Weygandt, Warfield

Chapter 13 - 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 contingencies. | PREVIEW OF CHAPTER Intermediate Accounting IFRS 2nd Edition Kieso, Weygandt, and Warfield 13 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. After studying this chapter, you should be able to: Current Liabilities, Provisions, and Contingencies 13 LEARNING OBJECTIVES 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. Three essential characteristics: Present obligation. Arises from past events. Results in an outflow of resources (cash, goods, services). CURRENT LIABILITIES LO 1 A 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. 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. CURRENT LIABILITIES LO 1 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 and value-added taxes payable. Income taxes payable. Employee-related liabilities. CURRENT LIABILITIES LO 1 Accounts Payable (trade accounts payable) Balances owed to others for goods, supplies, or services purchased on open account. Time lag between the receipt of services or acquisition of title to assets and the payment for them. Terms of the sale (., 2/10, n/30 or 1/10, .) usually state period of extended credit, commonly 30 to 60 days. CURRENT LIABILITIES LO 1 Notes Payable Written promises to pay a certain sum of money on a specified future .

• Kế toán - Kiểm toán
• Current liabilities
• Intermediate accounting
• Lecture Intermediate accounting
• Contingent assets
• Analysis of current liabilities
• Contingent liabilities
• Financial Accounting
• Principles of financial accounting
• Accounting information
• Classifying liabilities
• Uncertainty in liabilities
• Lecture Accounting principles
• Accounting principles
• Payroll accounting
• The financial statement presentation
• Lecture Financial accounting
• Long term liabilities
• Accrued liabilities
• Bonds payable
• Estimated liabilities
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Lecture International accounting
• International accounting
• Liabilities and payrol
• Current liabilities of known amount
• Accounting for payroll
• Interpreting liabilities
• Accounting system
• Disposition of property
• Intangible assets
• Lecture Accounting
• Accounting standards
• Owners’ equity
• Non current liabilities
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Analyzing liabilities
• Financial reporting
• Lease liabilities
• Lecture Principles of financial accounting
• Bài giảng Nguyên lý kế toán tài chính
• Account for contingencies
• Account for estimated liabilities
• Notes Playable
• Payroll
• Long Term Obligations
• Employee Compensation