mod 2 - Blackboar d Lear ning System Printable View of...

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9/10/13 Blackboard Learning System https://blackboard.tru.ca/webct/urw/lc5122001.tp0/cobaltMainFrame.dowebct 1/9 Print Save to File Printable View of: Module 2: Long-Term Financial Liabilities File: Overview File: Topics File: Activities Module 2: Long-Term Financial... Overview Module 2 examines the measurement, valuation, recording, and reporting of long-term liabilities. Financial liabilities play a crucial role in global capital market as companies need financing for growth, and one of the most effective ways to obtain capital is by issuing long-term debt. A company classifies an obligation as a long-term if it is not expected to be repaid within one year or the current operating cycle, whichever is longer. The most common examples of long- term liabilities are bonds payable, long-term notes payable, lease obligations, pension obligations, and deferred income taxes. In Chapter 14 we examine the measurement, valuation, recording, and reporting requirements for bonds payable and long-term notes payable. We will discuss the other types of long-term liabilities listed above elsewhere in this course. Module 2: Long-Term Financial... Topics There are five topics in this module: Topic 1: Long-Term Financial Liabilities Topic 2: Bonds Topic 3: Notes Payable Topic 4: Presentation of Long-Term Debt Topic 5: IFRS and GAAP Comparison Module 2: Long-Term Financial... Activities This module should take you one week to complete. By the end of Week 2, you should have completed the following activities, including submitting Assignment 2 to your Open Learning Faculty Member. Complete and check off the following Module 2 components: Read Module 2: Overview, Activities, Outcomes Read Topic 1: Long-Term Financial Liabilities Complete Activity 2-1: Long-Term Financial Liabilities Part A: Reading
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9/10/13 Blackboard Learning System https://blackboard.tru.ca/webct/urw/lc5122001.tp0/cobaltMainFrame.dowebct 2/9 File: Outcomes File: Topic 1: Long-Term Financial Liabilities Read Topic 2: Bonds Complete Activity 2-2: Bond Valuation Part A: Practice Exercises Read Topic 3: Notes Payable Complete Activity 2-3: Notes Payable Part A: Practice Exercises Read Topic 4: Presentation of Long-Term Debt Complete Activity 2-4: Presentation of Long-Term Debt Part A: Practice Exercises Read Topic 5: IFRS and GAAP Comparison Complete Assignment 2 Submit Assignment 2 for grading Module 2: Long-Term Financial... Outcomes By the time you finish your work on this module, you should be able to: Discuss and account for various types of long-term debt. Apply the effective interest methods of amortizing premiums and discounts. Describe and apply the accounting procedures for bond extinguishment. Account for long-term notes payable. Module 2: Long-Term Financial... Topic 1: Long-Term Financial Liabilities Long-term debt consists of obligations that do not have to be repaid in their entirety in the next twelve months. Long-term creditors do not normally have a say in the management of the company, nor do they participate in the profits. Rather, they are only entitled to receive the
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