Get 20% discount on your first purchase

Bookkeeping

Liabilities Accounting Definition + Examples

It falls under the category of things you owe or borrow, including short-term loans and long-term loans. Timing differences in revenue recognition and expense recording can also create negative liabilities. Under the accrual accounting method, revenue and expenses are recorded when earned or incurred, not when cash is exchanged. What is a Contingent Liability? List …

Liabilities Accounting Definition + ExamplesRead More