TAILIEUCHUNG - Lecture Accounting: What the numbers mean (2/e) - Chapter 6: Accounting for presentation of liabilities and owners’ equity

After completing this unit, you should be able to: Explain what are current liabilities? explain the difference between interest calculated on a straight basis and interest calculated on a discount basis, explain the concept of unearned income, explain the employer’s liability for payroll taxes, GST and superannuation contributions,. | CHAPTER 6 Accounting for Presentation of Liabilities and Owners’ Equity 6- Copyright 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Accounting: What the Numbers Mean 2e by Marshall, McCartney & Van Rhyn Slides prepared by John Tretola Learning Objectives Explain what are current liabilities? Explain the difference between interest calculated on a straight basis and interest calculated on a discount basis. Explain the concept of unearned income. Explain the employer’s liability for payroll taxes, GST and superannuation contributions. Explain the importance of making estimates for certain accrued liabilities. Explain what leverage is and how it is affected by long-term borrowings. 6- Copyright 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Accounting: What the Numbers Mean 2e by Marshall, McCartney & Van Rhyn Slides prepared by John Tretola Overview Liabilities are present obligations of the entity that have not yet been paid but that will involve an economic sacrifice in a financial period after the current period. Distinguish from Contingent liabilities, which are not present obligations (only possible obligations). Financial Statement presentation of liabilities in order of settlement priority. 6- Copyright 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Accounting: What the Numbers Mean 2e by Marshall, McCartney & Van Rhyn Slides prepared by John Tretola Terms Liabilities are present obligations of the entity that have not yet been paid but that will involve an economic sacrifice in a financial period after the current period. Distinguish from Contingent liabilities, which are not present obligations (only possible obligations). Financial Statement presentation of liabilities in order of settlement priority. 6- Copyright 2007 McGraw-Hill Australia Pty Ltd PPTs t/a Accounting: What the Numbers Mean 2e by Marshall, McCartney & Van Rhyn Slides prepared by John Tretola Liabilities and Owners’ Equity A = L + OE Accounting Equation Financial resources

• Kế toán - Kiểm toán
• Lecture Accounting
• Accounting information
• Accounting standards
• Owners’ equity
• Current liabilities
• Non current liabilities
• Financial accounting
• Lecture Financial accounting
• Management accounting
• Accounting equation
• Intermediate accounting
• Lecture Intermediate accounting
• Accounting process
• Accounting processing cycle
• Managerial accounting
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Merchandising operations
• Lecture Accounting 1
• Accounting for main transactions
• Accounting for purchases
• Accounting for sales
• Accounting for expenses
• Principle of accounting
• Lecture Principle of accounting
• The basic accounting equation
• Transaction analysis in accounting equation
• Calculate the accounting equation
• Lecture Advanced financial accounting
• Bài giảng Kế toán tài chính nâng cao
• Advanced financial accounting
• Accounting policies
• Accounting estimate
• Retrospective application
• Changes in accounting estimates
• Retrospective restatements
• Accounting assumptions
• Lecture Management accounting
• Bài giảng Kế toán quản trị
• Nature of management accounting
• Component of accounting system
• Financial system
• Lecture Accounting and financial system
• Ledger accounting
• Trial balance
• Completing the accounting cycle
• Accounting cycle
• Accounting worksheet
• Classified balance sheet
• Accounting changes
• Error corrections
• Accounting choices
• Accounting for business
• Lecture Accounting for business
• Accounting entity
• Classification of assets
• Accounting equation transactions