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Unformatted text preview: liabilities Ethics Note Some companies try to minimize the amount of debt reported on their balance sheet by not reporting certain types of commitments as liabilities. This subject is of intense interest in the financial community. Disclosure of debt is very important. Failures at Enron, WorldCom, and Global Crossing have made investors very concerned about companies' debt obligations. Summary data regarding debts may be presented in the balance sheet with detailed data (such as interest rates, maturity dates, conversion privileges, and assets pledged as collateral) shown in a supporting schedule in the notes. Companies should report current maturities of long-term debt as a current liability....
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- Spring '11
- Balance Sheet, Generally Accepted Accounting Principles, Global Crossing