TAILIEUCHUNG - Lecture Issues in financial accounting – Lecture 15: Current liabilities and contingencies

The contents of this chapter include all of the following: Explain a current liability and identify the major types of current liabilities, describe the accounting for notes payable, explain the accounting for other current liabilities, explain why bonds are issued and identify the types of bonds. | Current Liabilities and Contingencies PART II: Corporate Accounting Concepts and Issues Lecture 15 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. Explain the accounting for different types of loss contingencies. Indicate how to present and analyze liabilities and contingencies. Learning Objectives Current Liabilities Contingencies Presentation and Analysis What is a liability? What is a current liability? Gain contingencies Loss contingencies Presentation of current liabilities Presentation of contingencies Analysis of current liabilities Current Liabilities and Contingencies What is a Liability? FASB, defines liabilities as: “Probable Future Sacrifices of Economic Benefits arising from present obligations of a particular entity to transfer assets or provide

• Kế toán - Kiểm toán
• Financial accounting
• Issues in financial accounting
• Kế toán tài chính
• Financial statements
• Current liabilities
• Analyzing liabilities
• Accounting standards
• Financial reporting
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• Accounting system
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• Long term debt
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