TAILIEUCHUNG - Issues in Financial Accounting (15)

PART II: Corporate Accounting Concepts and . Issues Lecture 15 Current Liabilities and. Learning. Learning Objectives. Objectives 1. Describe the nature, type, and valuation of current liabilities. 2. Explain the classification issues of short-term debt expected to. be refinanced. 3. Identify types of employee-related liabilities. 4. Identify the criteria used to account for and disclose gain and. loss contingencies. 5. Explain the accounting for different types of loss contingencies. 6. Indicate how to present and analyze liabilities and. Current. Current Liabilities. Liabilities and. and Contingencies. Contingencies. Presentation and. Current Liabilities Contingencies. Analysis. What is a liability? Gain contingencies Presentation of. What is a current Loss contingencies current liabilities. liability? Presentation of. contingencies. Analysis of current. What. What is. is aa Liability?. Liability? FASB, defines liabilities as: “Probable Future Sacrifices of Economic Benefits arising. from present obligations of a particular entity to transfer. assets or provide services to other entities in the future as a. result of past transactions or events.”.4 What. What is. is aa Current. Current Liability?. Liability? Current liabilities are “obligations whose liquidation is. reasonably expected to require use of existing resources. properly classified as current assets, or the creation of other. 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 collections5 LO 1 Describe the nature, type, and valuation of current liabilities. What. What is. is aa Current. Current Liability?. Liability? Typical Current Liabilities:. Accounts payable. Customer advances and. deposits Notes payable Unearned revenues Current maturities of long-. term debt. Sales taxes payable Short-term obligations Income taxes payable expected to be refinanced Employee-related liabilities Dividends payable6 LO 1 Describe the nature, type, and valuation of current liabilities. What. What is. is aa Current. Current Liability?. Liability? 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

• Sáng kiến kinh nghiệm
• Issues in economics today
• Lecture Issues in economics today
• Macroeconomic issues
• International issues
• Price control issues
• Opportunity cost
• Demand model
• Elasticity of demand
• Firm production
• Perfect competition
• Gross domestic product
• Federal spending
• Fiscal policy
• Monetary policy
• Flaws in the CPI
• International trade
• International monetary fund
• Trade agreements
• Economic model
• Environmental problems
• Economic models of health care
• Medicaid costs
• Public insurance
• Prescription drugs
• Economics of crime
• Human capital
• Measuring poverty
• Social security
• Head start
• Affirmative action