Title: | Balance Sheet: Reporting Liabilities |
Category: | Accounting and Auditing |
Field of Study: | Accounting |
Course Code: | A019-0402 |
CPE Credits: | 3.0 |
Price: | $27.95 |
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Description:
This course discusses the accounting, reporting, and disclosures associated with both current and long-term liabilities on the balance sheet. A liability is a legal debt or obligation that arises during the course of business operations. A current liability, such as accounts payable, is payable within one year. A long-term liability, such as bonds payable, long-term loan, and capital lease, is an obligation that is not due within one year of the date of the balance sheet. This course includes items covered in ASC 210-10-45-5 through 45-12, Balance Sheet: Overall and 470-10, Debt: Overall. Topics cover loss contingencies, compensated absences, termination benefits, troubled debt restructuring, refinancing of current to noncurrent debt, callable obligations by creditors, issuance of bonds, calling debt, imputing interest on noninterest notes payable, environmental liabilities, and offsetting of liabilities.
Delivery Method: Online Interactive Self Study
Level: Overview
Prerequisites: None
Advanced Preparation: None
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Author: Delta Publishing
Category: Accounting and Auditing
Field of Study: Accounting
Passing Score: 70%
Publication Date: 07/29/2019
Technical Details: Accounting is a technical field of study.
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Objectives:
Chapter 1: Current Liabilities and Contingencies
1. Identify classification and characteristics of current and long-term liabilities
2. Recognize the appropriate rule to account for different types of loss contingencies.
3. Recognize rules for the troubled debt, impairment of loans, and restructuring of debt.
Chapter 2: Long-Term Liabilities
1. Recognize the accounting valuation for bonds at date of issuance.
2. Identify the methods of bond discount and premium amortization.
3. Recognize the accounting procedures for long-term notes payable.
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