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Course Details

Accounting for Current and Long-Term Liabilities (Course Id 2161)

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Author : Colten Christensen, Author
Course Length : Pages: 29 ||| Word Count: 14,083 ||| Review Questions: 6 ||| Final Exam Questions: 10
CPE Credits : 2.0
IRS Credits : 0
Price : $17.95
Passing Score : 70%
Course Type: NASBA QAS - Text - Technical - NASBA Registry
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 2161

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.

Usage Rank : 0
Release : 2023
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 05-Jun-2023
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - Technical - NASBA Registry - 2161

Keywords : Accounting, Current, Long-Term, Liabilities, cpe, cpa, online course
Learning Objectives :

Course 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
Course Contents :

Chapter 1 - Accounting for Current and Long-Term Liabilities

Course Learning Objectives


Liability Classifications

Current Liabilities

Long-Term Liabilities

Known Liabilities

Accounts Payable

Notes Payable


Payroll Deductions

Liability for Employer's Payroll Taxes

Accounting Systems for Payroll and Payroll Taxes

Payroll Register

Employees Earnings Record

Payroll Checks

Internal Controls for Payroll Systems

Employees' Fringe Benefits

Vacation Pay


Postretirement Benefits Other than Pensions

Sales Taxes

Unearned Revenue

Accounting for Unearned Revenue


Multi-Period Known Liabilities

Estimated Liabilities

Health and Pension Benefits

Vacation Benefits

Warranty Liabilities

Multi-Period Estimated Liabilities

Contingent Liabilities

Probable and Estimable

Probable and Not Estimable

Reasonably Possible


Accounting for Contingent Liabilities

Uncertainties That Are Not Contingencies

Times Interest Earned Ratio

Financial Analysis and Interpretation: Quick Ratio

Part 2 - Long term liabilities

Funding Business Organizations

Bond Financing

Why Issue Bonds

Proceeds from Issuing Bonds

Bond Trading

Bonds Issued at Face Amount

Bond-Issuing Procedures

Bond Issuances Example

Bonds Issued at a Discount

Amortizing a Bond Discount

Bonds Issued at a Premium

Bond Pricing

Bond Retirement at Maturity

Bond Redemption

Bond Retirement before Maturity

Bond Retirement by Conversion

Long-Term Notes Payable

Installment Notes

Mortgage Notes and Bonds

Debt Features and the Debt-to-Equity Ratio

Debt-to-Equity Ratio

Reporting Long-Term Liabilities


CPE Accounting Course: https://www.cpethink.com/accounting-cpa-courses
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