Course Individually
Course Description
Every business has both current and long-term liabilities that must be tracked and recorded. Accounting for Current and Long-Term Liabilities is a course that discusses important characteristics of liabilities and how liabilities are classified and reported in financial statements. This course will identify how to distinguish between current and long-term liabilities. This course will identify what liabilities are classified as current liabilities and what liabilities are classified as long-term liabilities. This course will also provide examples of recording both current and long-term liabilities.
Learning Objectives
At the end of this course, students will be able to:
- Identify the criteria for a liabilities
- Recognize what differentiates a current liability from a long-term liability
- Identify the nature and recording of current liabilities
- Recognize the disclosure criteria for contingent liabilities
- Recognize the recording criteria for payroll and payroll related taxes
- Identify the nature and recording of long-term liabilities
CPE Credits: 2 CPE for CPAs
Level: Intermediate
Instructional Method: Self-Study
NASBA Field of Study: Accounting
Program Prerequisites: None
Advanced Preparation: None
Revision date: March 17, 2023
