Liabilities are what's owed by an individual or a company. They are—in accounting terms—a company's present obligations, originating from past transactions, through which economic benefits are ...

Liabilities are the debts and obligations that detract from a company’s total value, which have to be paid over a certain period of time. The form of the debt can vary – common examples include ...

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

A significant report for every business leader to review, at least annually, is the balance statement. It gives business leaders insight into the financial health of the company. To get a true picture ...

Learn what an onerous contract is, regulations for reporting them, and examples. Explore how IFRS and GAAP differ in handling these unfavorable contracts.

Our two preceding columns exposed the weak arguments against expensing options, and then analyzed the incomplete methods that predated the Financial Accounting Standards Board’s March 2004 exposure ...

When the accountant attempts to deal with inflation in financial statements he encounters two quite separate problems. General price level adjusted (GPLA) statements address the first--the changing ...

An understatement in accounting refers to business assets given a valuation lower than their fair market value or a devaluation of liabilities to less than their actual cost. Either results in an ...

Steven Nickolas is a writer and has 10+ years of experience working as a consultant to retail and institutional investors. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in ...

The new lease accounting standard caused lease liabilities for the average company to increase a whopping 1,475 percent, skyrocketing from $4.4 million before the transition to $68.9 million post ...

This is Part 3 of a three-part series discussing the basic components of a professional liability lawsuit brought against an accounting firm and its partners and factors a firm’s managing partner ...