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Liabilities: General Issues
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Reference: CN-237-E
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Number of pages: 8
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Publication Date: May 2, 2016
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Source: IESE (España)
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Type of Document: Technical Note
Description
This note is an introduction to liabilities. It defines a liability and distinguishes it from contingent liabilities and commitments. It explains how to recognize and measure liabilities in general. Finally, the notes focuses its attention on provisions (i.e., estimated liabilities) and illustrates their accounting with two common examples: warranty liabilities and restructuring liabilities. The note "Long-Term Debt and Bonds" can be used to complement this note.
Learning Objective
This note is an introduction to liabilities. It defines a liability and distinguishes it from contingent liabilities and commitments. It explains how to recognize and measure liabilities in general. Finally, the notes focuses its attention on provisions (i.e., estimated liabilities) and illustrates their accounting with two common examples: warranty liabilities and restructuring liabilities. The note "Long-Term Debt and Bonds" can be used to complement this note.
Related Documents
- Introduction to Financial Accounting
- Introducción a la contabilidad financiera (IESE)
- The Balance Sheet
- El balance de situación
- The Income Statement
- The Statement of Cash Flows: Direct and Indirect Method
- Accounting for Inventories
- Accounts Receivable Valuation
- Noncurrent Assets
- Long-Term Debt and Bonds
- Shareholders' Equity
- Consolidation
- Consolidación
- Tax Accounting