PPT-Accounting for Current Liabilities

Chapter 9 Copyright 2016 McGrawHill Education  All rights reserved No reproduction or distribution without the prior written consent of McGrawHill Education Wild Shaw and Chiappetta Financial amp Managerial Accounting. Understanding Balance Sheets. Presenter’s name. Presenter’s title. dd. Month . yyyy. Overview. Balance sheet elements . and format. Accounting issues. Current and noncurrent assets and liabilities. Financial Reporting mechanics. Business activities and . financial statement elements. Business . Activities. Operating. Sell products or services to generate . revenue. 1. Incur . expenses. 2. . while . PRINCIPLES OF . FINANCIAL ACCOUNTING . CANADIAN EDITION. Chapter 10. Current Liabilities. Prepared by. :. Debbie . Musil. Kwantlen. Polytechnic University. 1. Copyright John Wiley & Sons Canada, Ltd. . By. Baruch Lev. Stern School of Business. New York University. June 2015. 2. At A Glance. . Nothing . new under the (accounting) . sun (Ecclesiastes). But regulators worldwide are active: update. All this activity for naught: accounting’s relevance fades. Accounting, Fourth Edition. 10. Explain a current liability and identify the major types of current liabilities.. Describe the accounting for notes payable.. Explain the accounting for other current liabilities.. By Jignesh Mehta,. B. COM, ACA & LCS.. Mobile No. 9699490918. .. Contents . Definition. Operating cycle of a manufacturing unit. AS – 2 – Valuation of Inventories. Classification of Current Assets and Current Liabilities. Understand . the importance of non-financial and current liabilities from a business perspective.. Define . liabilities, distinguish financial liabilities from other liabilities, and identify how . they . Slide 1 of 18. CA PARAS JAIN. parasjain2807@gmail.com. +91 9819815706. Accounting Policies. Changes in Accounting Policies. Accounting Estimates. Changes in Accounting Estimates. Prior Period Errors. What is a Balance Sheet?. The . capital balance . of the farm account. Assets and Liabilities. Usually calculated at the . financial year end. Why is it useful?. Indicates longer term . financial stability. ACCOUNTING. AN ECONOMIC DEVELOPMENT. ACCUSER. OF ACCOUNTING INFORMATION . OUTING. AS AN A INFORMATION SYSTEM. FACTORES INFLUENCING ACCOUNTING ENVIRONMENT. ACCOUNTING STANDERDS . ACCOUNTING PRINCIPLE . Insurers produce financial statement prescribed by NAIC. Filed with insurance department of regulators. Based on Statutory Accounting Principles. More conservative than GAAP. SAP - . 2. Policyholders’ Surplus. Insurers produce financial statement prescribed by NAIC. Filed with insurance department of regulators. Based on Statutory Accounting Principles. More conservative than GAAP. SAP - . 2. Policyholders’ Surplus. and . Conceptual Framework for Financial Reporting. ACCT-3030. 1. 1. Basic Definitions. What is accounting?. the identification, measurement, and communication of financial information. about economic entities. Liabilities. Presented by. Dr. . . B. N. Shinde. Assistant Professor. Department of . Commerce. Deogiri . College, Aurangabad. Classification of Assets and Liabilities. Liabilities . Proprietors Capital.