[x]
Create

Here is what users have to say about Liabilities

useravatar
Entry added by CWAnswers Join us and contribute your knowledge as well.
Comment
Share this
Share with a friend: liabilities
Your name
Your email
Recipient Email

Split: date=February 2009

Welcome to CWAnswers

CWAnswers is your guide to the sprawling world wide web. The directory aims to provide a useful guide made by users. You can share your knowledge as well - simply sign up and edit your first entry. For questions just contact the team at support - at - cwanswers.com.

Weblinks for Liabilities

Top 10 for Liabilities

Things about Liabilities you find nowhere else.

Select content modules

Comments about Liabilities

Please leave your comment using the comment button above the article
Share with a friend: liabilities
Your name
Your email
Recipient Email

Images found for Liabilities

Liabilities 1Liabilities 2Liabilities 3
Liabilities 4Liabilities 5Liabilities 6
Liabilities 7Liabilities 8Liabilities 9

Wikipedia About Liabilities

Split: date=February 2009

In the most general sense, a liability is anything that is a hindrance or puts an individual at a disadvantage. Although the term has very particular definition in the realm of finance, it is also used in non-finance contexts. The word liability may also refer to individual or an attribute or a component that puts a team or group at a disadvantage.

Accounting liability

In financial accounting, a liability is defined as an obligation of an entity arising from past transactions or events, the settlement of which may result in the transfer or use of assets, provision of services or other yielding of economic benefits in the future.

  • All type of borrowing from persons or banks for improving a business or person income which is payable during short or long time.
  • They embody a duty or responsibility to others that entails settlement by future transfer or use of assets, provision of services or other yielding of economic benefits, at a specified or determinable date, on occurrence of a specified event, or on demand;
  • The duty or responsibility obligates the entity leaving it little or no discretion to avoid it; and,
  • The transaction or event obligating the entity has already occurred.

Liabilities in financial accounting need not be legally enforceable; but can be based on equitable obligations or constructive obligations. An equitable obligation is a duty based on ethical or moral considerations. A constructive obligation is an obligation that can be inferred from a set of facts in a particular situation as opposed to a contractually based obligation.

The accounting equation relates assets, liabilities, and owner's equity:

Assets = Liabilities + Owner's Equity

The accounting equation is the mathematical structure of the balance sheet.

The Australian Accounting Research Foundation 1 defines liabilities as: "future sacrifice of economic benefits that the entity is presently obliged to make to other entities as a result of past transactions and other past events."

Probably the most accepted accounting definition of liability is the one used by the International Accounting Standards Board (IASB). The following is a quotation from IFRS Framework:

Regulations as to the recognition of liabilities are different all over the world, but are roughly similar to those of the IASB.

Examples of types of liabilities include: money owing on a loan, money owing on a mortgage, or an IOU.

Classification of accounting liabilities

Liabilities are reported on a balance sheet and are usually divided into two categories:

  • Current liabilities — these liabilities are reasonably expected to be liquidated within a year. They usually include payables such as wages, accounts, taxes, and accounts payables, unearned revenue when adjusting entries, portions of long-term bonds to be paid this year, short-term obligations (e.g. from purchase of equipment), and others.
  • Long-term liabilities — these liabilities are reasonably expected not to be liquidated within a year. They usually include issued long-term bonds, notes payables, long-term leases, pension obligations, and long-term product warranties.

Search results for Liabilities

Current Liabilities

Current liabilities appear on the company's balance sheet and include short ... Other Current Liabilities. Quick Ratio. Short-Term Debt. Working ...www.investopedia.com/terms/c/currentliabilities.asp

Current liability: Definition from Answers.com

Current Liabilities A company's debts or obligations that are due within one year. ... Classification of Liabilities (in accounting) Short Bond (business term) ...www.answers.com/topic/current-liability

liabilities - definition of liabilities by the Free Online Dictionary ...

Information about liabilities in the free online English ... deficit - an excess of liabilities over assets (usually over a certain period) ...www.thefreedictionary.com/liabilities

liability Definition

liability - definition of liability - An obligation that legally binds an ... cosigner, current liabilities, joint and several liability, limited liability, ...www.investorwords.com/2792/liability.html

Liabilities - Types of liabilities

LIABILITIES ... Liabilities are paid off under either short-term or long-term arrangements. ... A company's liabilities are critical factors in understanding ...www.referenceforbusiness.com/small/Inc-Mail/Liabilities.html

Images found for Liabilities

Liabilities 1Liabilities 2Liabilities 3
Liabilities 4Liabilities 5Liabilities 6
Liabilities 7Liabilities 8Liabilities 9

News about Liabilities

Kalimantan Gold Issues Shares for Debt

MarketwireVANCOUVER, BRITISH COLUMBIA--(Marketwire - May 11, 2009) - Kalimantan Gold Corporation Limited (TSX VENTURE:KLG)(AIM:KLG) (the "Company") announced on April 16, 2009 that negotiations were underway with officers, directors, employees and other debtors to accept shares for debt in respect of liabilities accrued to March 31, 2009 for deferred salaries, fees and expenses. The Company is pleased to .....http://www.marketwire.com/mw/release.do?id=987122&sourceType...

Mexico Debt Rating Outlook Cut to Negative by S&P (Update3)

BloombergMay 11 (Bloomberg) -- Mexico’s credit rating outlook was cut to negative from stable by Standard & Poor’s as the country’s first recession in eight years swells the budget deficit.http://www.bloomberg.com/apps/news?pid=20601083&sid=aYAIyPJC...

Retirement Living: New milestone reached in pensions' slow death

Market WatchMore than half of Fortune 100 companies now offer only a 401(k) or other defined-contribution plan to new employees, the first time a majority of the nation’s 100 largest firms does not offer a traditional pension, according to an annual survey by consulting firm Watson Wyatt.http://www.marketwatch.com/enf/rss.asp?guid=%7B7FBDD823-1ED5...

Conseco Soars After Posting First Profit Since 2006 (Update3)

BloombergMay 11 (Bloomberg) -- Conseco Inc. led the Russell 1000 Index with a 21 percent gain in New York trading after the life insurer posted a $24.5 million profit, ending eight consecutive quarters of losses.http://www.bloomberg.com/apps/news?pid=20601203&sid=aeQKPHA0...

Mexico Debt Ratings Should Be Cut, Claudio Loser Says (Update4)

BloombergMay 11 (Bloomberg) -- Mexico’s government and company ratings should be downgraded as the economy slumps, drug-related violence mounts and wrong-way bets on currency derivatives fuel losses, said Claudio Loser , a former International Monetary Fund Western Hemisphere director.http://www.bloomberg.com/apps/news?pid=20601086&sid=aK8nQMed...

News about Liabilities

Madoff family's assets are worth $826 mn; owned $7 mn yacht

Hindustan TimesThe details of assets and liabilities are as of December 31, 2008. According to the documents, the investor has assets worth between 823 million dollars and 826 million dollars. A major chunk comes from the ownership stake in his business -- Bernard L ... http://www.hindustantimes.com/Redir.aspx?ID=3c6763fa-d40d-44...

Banks need CBI nod for write-offs

Times of IndiaThe settlement reached by banks with the alleged "wilful defaulters" compromises the civil liabilities of accused facing CBI prosecution in courts. In some recent cases, the investigating agency received a lot of flak from courts which observed ... http://timesofindia.indiatimes.com/Business/International-Bu...

Asset? Ratio? Key terms in the banking crisis

Cincinnati.comThis is essentially the value that would remain if a bank's assets were liquidated and all of its liabilities were paid off. Banks are required to maintain minimum levels of capital. Minimum core capital required by regulators is 4 percent of all ... http://news.cincinnati.com/article/20090315/BIZ01/903150341/...

IDBI Fortis Life to get Rs 250 cr from JV cos

Economic TimesUnder current solvency norms, every insurer needs to maintain an excess of the value of his assets over the amount of his liabilities by an amount stipulated by the Irda. When asked about the development, GV Nageswara Rao, MD and CEO, IDBI ... http://economictimes.indiatimes.com/News-by-Industry/IDBI-Fo...

NEW at noon - Teacher retirement fund suffers unexpected losses

Corsicana Daily SunOn Friday, legislators were assessing the report, which showed the pension's unfunded liabilities have more than tripled in six months — to $40.4 billion from $11.5 billion, according to an online story in the Fort Worth Star-Telegram. If the ... http://www.corsicanadailysun.com/local/local_story_074105045...

Search results for Liabilities

liability Definition

In the case of a company, a liability is recorded on the balance sheet and can include accounts payable, taxes, wages, accrued expenses, and deferred revenues. Current liabilities are ... http://www.investorwords.com/2792/liability.html

liabilities definition | Dictionary.com

noun, plural -ties. 1. liabilities, a. moneys owed; debts or pecuniary obligations (opposed to assets). b. Accounting. liabilities as detailed on a balance sheet, esp. in relation ... http://dictionary.reference.com/browse/liabilities

liabilities - definition of liabilities by the Free Online Dictionary ...

li·a·bil·i·ty (l-b l-t) n. pl. li·a·bil·i·ties. 1. The state of being liable. 2. a. Something for which one is liable; an obligation, responsibility, or debt.http://www.thefreedictionary.com/liabilities

Current Liabilities

Current Liabilities - Definition of Current Liabilities on Investopedia - A company's debts or obligations that are due within one year. Current liabilities appear on the ... http://www.investopedia.com/terms/c/currentliabilities.asp

Liabilities

This article is part of WikiProject Definitions. Consider editing to improve it. View articles referencing this definition. Liabilities are...http://www.wikinvest.com/wiki/Liabilities

Wikipedia results for Liabilities

Liability - Wikipedia, the free encyclopedia

Liabilities in financial accounting need not be legally enforceable; but can be based on equitable obligations or constructive obligations. An equitable obligation is a duty based ... http://en.wikipedia.org/wiki/Liability

Current liability - Wikipedia, the free encyclopedia

In accounting, current liabilities are considered liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle, whichever period is ... http://en.wikipedia.org/wiki/Current_liabilities

Balance sheet - Wikipedia, the free encyclopedia

In financial accounting, a balance sheet or statement of financial position is a summary of a person's or organization's balances. Assets, liabilities and ownership equity are ... http://en.wikipedia.org/wiki/Balance_sheet

Accrued liabilities - Wikipedia, the free encyclopedia

Accrued liabilities are liabilities which have occurred, but have not been paid or logged under accounts payable during an accounting period; in other words, obligations for goods ... http://en.wikipedia.org/wiki/Accrued_liabilities

Contingent liability - Wikipedia, the free encyclopedia

Contingent liabilities that may or may not be incurred by an entity depending on the outcome of a future event such as a court case. These liabilities are recorded in a company's ... http://en.wikipedia.org/wiki/Contingent_Liabilities
  • Recent
  • Mine
  • Watched
  • Commented
You must be logged in to perform this operation
You must be logged in to perform this operation

Search this site

Videos found for Liabilities

D. Walker: Total liabilities exceed...

D. Walker: Total liabilities exceed networth all American ...http://awesome.goodmagazine.com/goodsheet/images/goodSheet_006_Economy.jpgFlash - Video

vator.tv story - Lessons Learned: V...

vator.tv story - Lessons Learned: Vinod on paranoia and convictionWhat do religious conviction and the awareness of liabilities have to do with entrepreneurship? They're key to being a successful entrepreneur, according to Vinod Khosla, formerly...Flash - Video

Lance Reddick on 'Lost,' 'Fringe' a...

Lance Reddick on 'Lost,' 'Fringe' and 'The Wire'He's on 'Fringe' - returning to Fox Tuesday - and 'Lost' - back on ABC Wednesday - and starred on HBO's 'The Wire.' Check out what Lance Reddick has to say about his many,...Video - Video

Business Update: Nomura-Lehman

Business Update: Nomura-LehmanNomura, Japan's top brokerage, juggling with acquisition of part of Lehman Brothers, reportedly will see a net loss of $3.3 billion last quarter.Flash - Video

ItsAboutFinance.com Video News Blog

ItsAboutFinance.com Video News BlogDaily Financial News: General Motors (GM) Strike Ends; Sallie Mae (SLM) Takeover in Jeopardy?; NASDAQ Goes to China; NASDAQ and Dubai Borse and OMX - New TermsWindows Media - Video

Answers for Liabilities

michimex mliabilities?michimex mLiabilities created over the normal course of business are the usual Accounts Payable when a company buys trading merchandize on credit, as well as utilities, rent, wages, etc which is due and owing. ...RealityWhat liabilities might someone face in opening an Ebay store? Do people try to fence stolen good there?RealityIt depends on state law. Pawn Shops in AZ are required to hold all merchandise for 10 days before selling and send a description and any serial numbers to police. You may want to check local law befor...sapos_angelWhat are my liabilities when sponsoring an immigrant?sapos_angelshould you sponsored immigrant end up with no work no health insurance he they seek medical attention or seek any state welfare benefits and they have no financial means they you will ha...JohnnyWhat are the tax liabilities for personal loans and gifting of money?JohnnyYou don't mention what country you are in. Under US tax law. The borrower has NO tax related to a loan. The lender would include the interest portion of payments in their total income for tax purpo...AnnWhat effect does declaration and payment of cash dividend have on total liabilities and debt to equity ratio?AnnI think it's answer A. The declaration of a cash dividend creates a liability, but then the payment of the dividend negates that liability. The payment of the dividend also reduces equity, so de...
Contact Us[X]
Your name
Email
Subject
Your comment
[X]