This course discusses the accounting, reporting, and disclosures associated with liabilities on the balance sheet. It includes items covered in ASC 210-10-45-5 through 45-12 and 470-10, Balance Sheet: Overall. Topics include 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.

Objectives:
Chapter 1: Current Liabilities and Contingencies
Chapter 2: Long-Term Liabilities

Topics Covered:

• Current Liabilities
• Eligible Items at Effective Date
• Troubled Debt
• Early Extinguishment of Debt
• Third-Party Credit Enhancement
• Fair Value Option for Financial Assets
• Compensated Absences
• Callable Obligations by the Creditor
• Imputing Interest on Noninterest Notes Payable

Delivery Method: Online Self Study

Level: Basic

Prerequisites: None

Category: Accounting

Passing Score: 70%

NASBA: Yes QAS Self Study

Author: Delta Publishing

ABOUT THE SUBJECT MATTER EXPERT:
Dr. Jae K. Shim is Professor of Business at California State University, Long Beach,
California. Dr. Shim received his MBA and Ph.D. degrees from the University of California at Berkeley (Haas School of Business.) He has co-authored over 50 professional business books and has been a consultant to commercial and nonprofit organizations for over 30 years.