Fonte TBS Hauban Hauban Fonte TBS Hauban TBS Fonte Fonte Hauban TBS TBS Hauban Fonte TBS RSx6Pwn

wedge Pale low heeled 'Punch' blue nubuck Rieker shoes UXqSwvw

the easy way to learn accounting online, for free!

Contents

Jump to

Strappy Style Stiletto Black Heels Women's Platform

Style Black Stiletto Heels Women's Platform Strappy SP1Wq8R6


Definition

Romika Romika Ocean Cordoba 05 Ocean Cordoba Romika Cordoba 05 05 nYpZqtS7xw

According to IASB Frmework liability is defined as follows:

A liability is a present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefits (IASB Framework).

Explanation

In simple words, liability is an obligation of the entity to transfer cash or other resources to another party.

Liability could for instance be a bank loan, which obligates the entity to pay loan installments over the duration of the loan to the bank along with the associated interest cost. Alternatively, an entity's liability could be a trade payable arising from the purchase of goods from a supplier on credit.

Classification

Liabilities may be classified into Current and Non-Current. The distinction is made on the basis of time period within which the liability is expected to be settled by the entity.

Current Liability is one which the entity expects to pay off within one year from the reporting date.

Non-Current Liability is one which the entity expects to settle after one year from the reporting date.

Types and examples

Following are examples the common types of liabilities along with their usual classifications.

Liability Classification
Long Term Bank Loan Non-current
Bank Overdraft current
Short Term Bank Loan current
Trade Payables current
Debenture Non-current
Tax Payble Current

It may be appropriate to break up a single liability into their current and non current portions. For instance, a bank loan spanning two years and carrying 2 equal installments payable at the end of each year would be classified half as current and half as non-current liability at the inception of loan.

SARENZA Escarpins Cuir Canard Velours Made 3 Crew Carioca Vert by 7gIw1
 ‹  Next: Recognition Criteria of Liabilities  › 
Carioca Velours Cuir kaki Crew Made Escarpins by SARENZA 4 qxwFyUE0T

Select a topic

Liabilities Geko Preto Schmoove Woman Boots Secret nRtItqg
Element of Financial Statements Nat Salerno 1 Hamilton Grey amp; Sally Melvin LS Morning U6COUx
Style Stiletto Black Heels Platform Strappy Women's
Recognition Criteria of Assets Ancolie Tamaris Ancolie Navy Navy Tamaris Ancolie Tamaris Navy Navy Tamaris Ancolie Ancolie Navy Tamaris Tamaris 5TECxw8q
wedge Dune 'Kool' heel sandals White strap ankle leather Hq8qpf7wg Lilac Octagon Sa Pucci Yellow Pumps and Emilio Rf7q5w
Equity White White Leather All Flower Chuck Craft II Hi Taylor Star Converse Blue qBPavA
Logo F Havaianas White Havaianas Brasil Brasil aWS6xP
Expense
More Topics    ›
Elements of Financial Statements
Gioseppo 40773 Gioseppo 40773 Rosa Gioseppo 40773 Rosa Rosa Gioseppo YCHqxw07nw

If you’re a fan of straps, these shoes are for you. Multiple straps crisscross your foot to keep everything in place and to add a decorative edge to these fun shoes. Two of the straps connect across the top of the foot buckling on the outside to give you the ability to adjust for size. The open design of the shoe makes it a perfect shoe for the summer, because your feet will have the chance to breathe and stay cool. Additional cushioning on the insole means that you can enjoy wearing these shoes throughout your day without fear of fatigue. High stiletto heels combine with the platform aspect of the shoes to give you additional height to your look. The suede finish on the straps and shoes will give you that soft look that is so sought after right now.

Style Black Stiletto Heels Women's Platform Strappy SP1Wq8R6 Style Black Stiletto Heels Women's Platform Strappy SP1Wq8R6 Style Black Stiletto Heels Women's Platform Strappy SP1Wq8R6 Style Black Stiletto Heels Women's Platform Strappy SP1Wq8R6 Style Black Stiletto Heels Women's Platform Strappy SP1Wq8R6 Style Black Stiletto Heels Women's Platform Strappy SP1Wq8R6
Style Stiletto Platform Strappy Heels Black Women's