Course Information
Balance Sheet: Reporting Liabilities
Course Information
| Title: | Balance Sheet: Reporting Liabilities |
|---|---|
| Category: | Accounting and Auditing |
| Field of Study: | Accounting |
| Course Code: | M206 |
| CPE Credits: | 5.0 |
| Price: | 43.95 |
Description
Description:
A liability is a legal debt or obligation that arises during business operations. A current liability, such as accounts payable, is payable within one year. A noncurrent liability, such as bonds payable, long-term loan, and finance lease, is an obligation that is due in over a year. This course discusses generally accepted accounting principles (GAAP) for reporting both current and noncurrent liabilities on the balance sheet.
Delivery Method: Online Interactive Self Study
Level: Intermediate
Prerequisites: None
Advanced Preparation: None
Course Details
Category: Accounting and Auditing
Field of Study: Accounting
Passing Score: 70%
Technical Details: Accounting: Technical
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Objectives
Objectives:
1. Recognize basic principles of reporting liabilities on the balance sheet. 2. Identify classification and characteristics of liabilities. 3. Recognize the appropriate rules to account for contingencies. 4. Identify accounting procedures for accounts payable and deferred revenues. 5. Recognize rules for the troubled debt, environmental liabilities, and lessee accounting. 6. Recognize the accounting procedures for bonds payable and notes with no stated rate of interest.
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Profession
NASBA: Yes
QAS: Yes
CPA: Suitable for all CPAs
IRS: No IRS credit for Enrolled Agents.
Profession Identifiers: CPA