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.

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