Accrued liabilities, Cost Accounting

Accrued liabilities show expenses or obligations incurred in the earlier accounting period but the payment for similar will be made in the subsequent period. In several cases where payments are made periodically, as wages, rent and the same items, the last month's payment may appear as accrued liabilities as particularly if the practice is to pay similar on the first working day of a month. Such obligation demonstrated on the balance sheet shows that the firm owed the said amount in the balance sheet date.

Posted Date: 4/4/2013 1:45:37 AM | Location : United States







Related Discussions:- Accrued liabilities, Assignment Help, Ask Question on Accrued liabilities, Get Answer, Expert's Help, Accrued liabilities Discussions

Write discussion on Accrued liabilities
Your posts are moderated
Related Questions
The following information is available for the automotive division of Ford Motor Company for 2009.  The company uses the LIFO inventory method.

Marple Associates is a consulting firm that specializes in information systems for construction and landscaping companies. The firm has two offices-one in Houston and one in Dallas

Marvin's Motors Company (MMC) manufactures outboard motors for use on small to medium sized boats. MMC produces three models: the Standard, the Deluxe and the Performance. The comp

Q. What is the idyllic minimum or maximum population required to use fca? Ans. FCA is not depending on size. It is merely a common-sense approach to overseeing money and k

Prepare a properly classified Cash Flow Statement for Sports Enterprises Ltd for the year ended 31st December 2011. Note that the Closing Cash at Bank Balance at 31st December 2011

Lindon Company is the exclusive distributor for an automotive product that sells for $43 per unit and has a CM ratio of 35%. The company''s fixed expenses are $421,400 per year. Th

what is the role of cost accounting in business

Atkinson's Reliable Tools makes two products that use similar raw materials: #587Q and #253X. Estimated production needs for a unit of each product follows. #587Q #253X Steel (in p

WORKED EXAMPLES OF EXPECTED CASH COLLECTIONS PATTERNS

Variance Analysis and Standard Costing Standard costing is defined with CIMA like a technique that uses standards for revenues and costs for the purpose of control via varianc