handout for class 2

handout for class 2 - Handout#2 for Bus321-Intermediate...

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Unformatted text preview: Handout #2 for Bus321-Intermediate Accounting II Professor: Yasheng Chen Notes for BUS321 Class 2: Long-term Financial Liabilities Learning objectives: 1. Remember journal entries to record creation, maintenance, and settlement of long- term financial liabilities. a. Issurance b. Interest payment c. Amortization of discount or premium d. Extiguishment 2. Identify various types of long-term financial liabilities, including off-balance- sheet financing arrangements. 3. Indicate how long-term liabilities are presented and analyzed. Key learning points: 1 Definitions of Long-term Debt 2. Major types of long-term debt 3. Valuation and record of long-term debt at issuance date PV of Annuity + PV of face value= 4. Effective interest method for amortizing discount/premium interests payable= interests expense= amortization amount (discount)= amortization amount (premium)= 5. Disclosure requirements 6. Situations that make accountants’ job difficult a. Bonds Issued Between Interest Dates b. The interest payment date different from financial statement date...
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This note was uploaded on 03/15/2012 for the course BUS 303 taught by Professor Brown during the Spring '11 term at Simon Fraser.

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handout for class 2 - Handout#2 for Bus321-Intermediate...

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