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Balance Sheet Reporting: Liabilities (Course Id 604)

QAS / Registry
Author : Jae K. Shim, Ph.D., CPA
Status : Production
CPE Credits : 5.0
IRS Credits : 0
Price : $49.95
Passing Score : 70%
NASBA Technical: Yes
Primary Subject-Field Of Study:

Accounting - Accounting for Course Id 604

Description :

This course discusses the accounting, reporting, and disclosures associated with liabilities 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.

Usage Rank : 0
Release : 2014
Version : 999
Prerequisites : None
Experience Level : Overview
Additional Contents : Complete, no additional material needed
Advance Preparation : None
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE)
Revision Date : 16-Apr-2014
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 - NASBA Registry - 604

Keywords :
Learning Objectives :

Chapter 1
Current Liabilities and Contingencies

After completing this chapter, you should be able to:
    1. Differentiate between current and long-term liabilities.
    2. Outline the criteria used to account for and disclose gain and loss contingencies.
    3. Estimate liabilities and account for different types of loss contingencies.
    4. Explain the concept of impairment of loans and restructuring of debt.
    5. Properly classify short-term debt expected be refinanced as long-term debt.

Chapter 2
Long-Term Liabilities

After completing this chapter, you should be able to:
    1. Describe the accounting valuation for bonds at date of issuance.
    2. Apply the methods of bond discount and premium amortization.
    3. Describe the accounting procedures for the extinguishment of debt.
    4. Explain the accounting procedures for long-term notes payable.
    5. Determine loss contingency to accrue for environmental liabilities.
    6. Describe how long-term debt is presented.
    7. Distinguish among and account for: (1) a loss on loan impairment, (2) a troubled debt restructuring that results in the settlement of a debt, and (3) a troubled debt restructuring that results in a continuation of debt with modification of terms.
    8. Explain the reporting of off-balance-sheet financing arrangements.
Course Contents :

Chapter 1 – Current Liabilities and Contingencies


Chapter 2 – Long-Term Liabilities




Annual Report References



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