Current liabilities, Accounting Standards

Current Liabilities

We have studied about liabilities are claims of outsiders against the business. Conversely, these are amounts owed through the business to people who have lent money or provided goods or services on credit. If these liabilities are unpaid within an accounting period or the operating cycle of the business, they are categorized as current liabilities. Several of such liabilities are incurred in the acquisition of materials or services forming part of the current assets. As was the case along with current assets and liabilities are also listed in the sequence of their relative liquidity.

Posted Date: 4/3/2013 6:37:14 AM | Location : United States







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

Write discussion on Current liabilities
Your posts are moderated
Related Questions
As of 2005, consolidated financial statements of listed companies in the European Union are required to be prepared in accordance with IFRSs. Complete the following accounting p

The book of Deven Verma could not be tallied. The accountant transferred the difference of Rs. 1,270 in the suspense account on the debit side. The following mistakes were found la

Question 1: Businesses have become increasingly aware of the environmental implications of their operations, products and services. (a) Describe why businesses should be con


To establish and implement an accounting system  for  Trigon  Corporation, using MYOB accounting software. Needed: 1.  Make and print a  suitable chart of accounts in MYOB

last changes in accounting standard in aias?

AB Limited is a manufacturing entity that runs a number of operations including a bottling plant that bottles carbonated soft drinks. AB has been developing a new bottling process

tools and techniques of financial statement

Standards at International Level: In view of the development of international trade and multinational enterprises, the requirement for standardization at the international level w

Explain the procedure followed in government system of accounting in india