Balance Sheet - Reporting: LiabilitiesCode: 20-BSLIAB
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This course discusses the accounting, reporting, and disclosures associated with both current and long‐term liabilities on the balance sheet. A liability is a legal debt or obligation that arises during the course of business operations. A current liability, such as accounts payable, is payable within one year. A long‐term liability, such as bonds payable, long‐term loan, and capital lease, is an obligation that is not due within one year of the date of the balance sheet. This course includes items covered in ASC 210‐10‐45‐5 through 45‐12, Balance Sheet: Overall and 470‐10, Debt: Overall. Topics cover loss contingencies, compensated absences, termination benefits, troubled debt restructuring, refinancing of current to noncurrent debt, callable obligations by creditors, issuance of bonds, calling debt, imputing interest on noninterest notes payable, environmental liabilities, and offsetting of liabilities.
Presentation Method: QAS Self-Study
CPE credit: 3 Hours
Program Level: Update
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase
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American CPE, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to: National Registry of CPE Sponsors, 150 Fourth Ave. North, Nashville, TN 37219-2417. Web site: www.nasbaregistry.org
NASBA QAS Sponsor number 108096
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