In accounting terms, a liability is an amount that you owe a creditor. Liabilities generally fall into two categories -- current and long-term. Current liabilities include debts you owe that you ...

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 ...

Norwalk, Conn. — In a continuing effort to quickly converge at least a few U.S. standards to international standards, the Financial Accounting Standards Board is hammering out a proposal on liability ...

Consumers are most likely to encounter balloon-type debt in the form of balloon mortgages. If you have a balloon mortgage, you make relatively small monthly payments. At the end of the repayment ...

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 ...

TO PROVIDE BUSINESSES WITH GUIDANCE ON WHEN and how to recognize a liability for asset retirement obligations, FASB issued Statement no. 143, Accounting for Asset Retirement Obligations. The statement ...