managerial accounting - Matakuliah: 0054F/Akuntansi...

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Matakuliah: 0054F/Akuntansi Keuangan II Current Liabilities, Provisions and Contingencies Week 1
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C H A P T E R C H A P T E R 13 13 CURRENT LIABILITIES, PROVISIONS, CURRENT LIABILITIES, PROVISIONS, AND CONTINGENCIES AND CONTINGENCIES Intermediate Accounting IFRS Edition Kieso, Weygandt, and Warfield
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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. Explain the accounting for different types of provisions. 5. Identify the criteria used to account for and disclose contingent liabilities and assets. 6. Indicate how to present and analyze liability-related information. Learning Objectives Learning Objectives
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Current Liabilities Current Liabilities Provisions Provisions Presentation and Presentation and Analysis Analysis What is a liability? What is a liability? What is a current What is a current liability? liability? Recognition Recognition Measurement Measurement Common types Common types Disclosures Disclosures Presentation of Presentation of current liabilities current liabilities Analysis of current Analysis of current liabilities liabilities Current Liabilities and Contingencies Current Liabilities and Contingencies Contingencies Contingencies Contingent Contingent liabilities liabilities Contingent assets Contingent assets
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What is a Liability? What is a Liability? Three essential characteristics : 1. Present obligation. 2. Arises from past events. 3. Results in an outflow of resources (cash, goods, services).
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What is a Current Liability? What is a Current Liability? Current liability is reported if one of two conditions exists: 1. Liability is expected to be settled within its normal operating cycle; or 2. Liability is expected to be settled within 12 months after the reporting date. LO 1 Describe the nature, type, and valuation of 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 collections.
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What is a Current Liability? What is a Current Liability? Typical Current Liabilities: Accounts payable. Notes payable. Current maturities of long- term debt. Short-term obligations expected to be refinanced. Dividends payable. Customer advances and deposits. Unearned revenues. Sales taxes payable. Income taxes payable. Employee-related liabilities. LO 1 Describe the nature, type, and valuation of current liabilities.
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Balances owed to others for goods, supplies, or services purchased on open account. Accounts Payable (trade accounts payable) What is a Current Liability? What is a Current Liability?
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This note was uploaded on 09/22/2011 for the course ECONOMY 1501208336 taught by Professor Gunawan during the Spring '11 term at Bina Nusantara University.

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managerial accounting - Matakuliah: 0054F/Akuntansi...

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