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
i have an assignment that is requiring me to build my own Accounting framework. this assignment is not a research or textual assignment it must have a thinking process, so i can an

During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of

Accounting Concepts: The dual aspect principle has specific relevance to balance sheet. According to this principal, every transaction is concerned as one that has dual ef

A firm of manufactures, whose books are closed on 31st December, purchased machinery for Rs.50,000 on 15 January, 2010. Additional Machinery was acquired for Rs.10,000 on 1st July,

journal entry and balance sheet for acquisition

The first municipal bond insurance company was created in 1971 as a supplementary of MGIC Investment Corp. of Milwaukee; now usually called as Ambac Financial Group, Inc. The Ameri

A company values its loose tools for inclusion in its balance sheet. The tools are not extremely valuable and the company uses estimating while valuing them. Which type of accou

Comprising examined the conceptual origin of the balance sheet we will here try to study the balance sheet by itself. We have observed that every transaction influences the financi

Currently I can represent my financial position in the subsequent form:                                           Financial Position Statement 1     Amount owned by me

describe why a high stock turnover is considered to be a good thing