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Basic Accounting Documents

Basic Accounting Documents

Basic Accounting Documents. Accounting System Purpose. An accurate picture of firm’s current profitability An estimate of firm’s current and future financial position Input to firm’s management information system An accurate record of past financial performance.

By emi-washington
(207 views)


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Obligation

Obligation

Obligation. He ___ to learn hard last week because he ____ to write five tests this week.. had - has/needs. Question. Answer. 100. Obligation. Why ___ he stay at home every weekend? Because he ___ to work in his father\'s shop.. must has/needs. Question. Answer. 200. Obligation . She ____ to write

By fairly (173 views)

OBLIGATION

OBLIGATION

OBLIGATION. MUST AND TO HAVE TO. Must is a modal verb. It is used in the present or future. Must has no final s in the third person singular: You must, he must Must takes the bare infinitive: I must eat it up not I must to eat it up.

By valin (141 views)

Liabilities

Liabilities

2. Liabilities are.. . Creditors claims on total assetsExisting debts and obligations. Liabilities must be settled in the future by transfer of assets or services.. 3. Current Liabilities. Can reasonably be expected to paidFrom existing current assets or through the creation of other current l

By estrella (165 views)

Liabilities

Liabilities

Liabilities. obligations of an entity to make a future payment or to deliver goods or services to the third parties in the future in return for cash borrowed or service used or goods acquired provide cash via borrowing, or savings of cash classified according to their due dates

By lolita (70 views)

LIABILITIES

LIABILITIES

LIABILITIES. Probable future sacrifices of economic benefits arising from present obligations of a particular entity to transfer assets or provide services to other entities in the future as a result of past transactions or events. (SFAC #6, 1980). ESSENTIAL CHARACTERISTICS.

By salberto (0 views)

Liabilities

Liabilities

Liabilities. Chapter 10. Current Liabilities. Noncurrent Liabilities. The Nature of Liabilities. Defined as debts or obligations arising from past transactions or events. Maturity = 1 year or less. Maturity > 1 year. The acquisition of assets is financed from two sources:. DEBT. EQUITY.

By phelpsc (0 views)

Liabilities

Liabilities

Liabilities. Current--one year or less Current portion of long-term debt. Contingent Losses. Probable Reasonable Remote Probable and measurable…record Reasonable…disclose Remote…ignore. Contingent Gains. Probable…disclose Other…ignore. Appendices. 10A: Pensions 10B: Deferred taxes

By beau (121 views)

LIABILITIES

LIABILITIES

Chapter 10. LIABILITIES. Current Liabilities. Noncurrent Liabilities. I.O.U. The Nature of Liabilities. Defined as debts or obligations arising from past transactions or events. Maturity = 1 year or less. Maturity > 1 year. DEBT. EQUITY.

By suzuki (82 views)

Liabilities

Liabilities

Liabilities. 9. Learning Objectives. Describe the recording and reporting of various current liabilities. Describe the reporting of long-term liabilities and the cash flows associated with those liabilities.

By arne (192 views)