Liabilities

RECENT NEWS
MedPage Today  Apr 13  Comment 
ORLANDO (MedPage Today) -- The medical liability system in the U.S. is dysfunctional for physicians and their patients, but healthcare systems that have enacted successful reform offer hope for the future, according to a report from the American...
DailyFinance  Apr 10  Comment 
NEW YORK, NY -- (Marketwired) -- 04/10/14 -- The U.S. Second Circuit Court of Appeals in a ruling last week held that the federal Liability Risk Retention Act (LRRA) categorically preempts a New York State statute that allows a direct action...
Insurance Journal  Apr 8  Comment 
Austin-based Texas Medical Liability Trust (TMLT) announced that Charles R. “Chip” Ott Jr. is stepping down from his role as TMLT’s president and chief executive officer (CEO) effective June 30 to dedicate more time to his family. Ott joined...
Insurance Journal  Apr 7  Comment 
If you run in libertarian circles, you hear a lot about lawsuits. It’s the obvious recourse for anyone who wants less regulation but can’t bring themselves to insist that, say, chemical companies should be allowed to dump toxic waste into...
Insurance Journal  Apr 4  Comment 
The Maryland Senate has approved a compromise bill on liability for dog bites. The House has already passed the bill, so it will go to the governor’s office for a signature. The bill would hold dog owners liable for biting … The article...
Insurance Journal  Apr 3  Comment 
Allied World U.S. has launched Privacy//403 SRVS, a Specified Response Vendor Solution (SRVS) policy to provide coverage for liability and expenses associated with the compromise of sensitive information and information systems, in the event of a...
Insurance Journal  Apr 3  Comment 
Farmers wouldn’t be financially liable for the death of someone participating in an agricultural tourism activity under a bill that has cleared the Wisconsin Senate. Agricultural tourism is growing in popularity as farmers and others look for...
Reuters  Apr 3  Comment 
Delphi Automotive's name does not appear on the outside of the 2.6 million vehicles recalled by General Motors Co since February, but the company is getting drawn into a mounting wave of litigation for its role in producing the faulty ignition...
DailyFinance  Apr 1  Comment 
22nd Century Group, Inc. (NYSE MKT:XXII) today announced that the Company entered into warrant amendments yesterday with existing warrant holders to eliminate virtually all of the Company’s “derivative warrant...
DailyFinance  Apr 1  Comment 
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 04/01/14 -- Government liabilities include much more than direct debt, and when all federal, provincial, and local government liabilities are combined, each Canadian taxpayer owes $243,476, notes a...




RELATED WIKI ARTICLES
 
TOP CONTRIBUTORS

A liability is an accounting term for anything of value a company or an individual owes. Liabilities can include financial liabilities usually debt or fixed goods which have yet to be delivered. Publicly-traded companies are required to list a summary of their assets and liabilities every quarter on their balance sheet, where accounting rules determine how liabilities are categorized and valued. The opposite of a liability is an asset - something of positive value, or something the company owns.

Types of Liabilities

From an accounting perspective, liabilities are divided into two broad categories:

Current Liabilities

Current liabilities are debts or obligations which are due within a year. Current liabilities are reported on the company's balance sheet and include Short-Term Debt, accrued liabilities and Accounts payable.

  • Short-term bank loans: which are a form of short-term debt that the company takes out.
  • Accounts payable: which is money owed to a company, for a good or service. This includes unpaid bills.

By the principle of prudence, current liabilities are reported in the balance sheet at their least favorable valuation.

Long-Term Liabilities

Long-term liabilities are liabilities that will not be paid off or are not due within a year. Long-term liabilities are also reported on the company's balance sheet and include items such as long-term bank loans and bonds issued by the company. They are generally subject to interest payments. Examples include: company cars, computers and investment in another company.

References

Please install Flash Player to view this chart.
Please install Flash Player to view this chart.
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki