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 ...

Current liabilities are short-term business debts that are due to be paid before the end of the current fiscal year. These upcoming charges are reported on a company’s balance sheet. Current ...

Set up an accounts payable process to ensure vendors are paid on time, reduce duplicate payments, and maintain accurate ...

The International Accounting Standards Board has published a proposed set of changes in the accounting standards for financial liabilities to address what it calls the counter-intuitive effects of ...

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 ...

Before any meaningful discussion can occur about the effect that a cash purchase of office supplies has on the accounting equation, it is important to understand what the accounting equation is and ...

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 ...