Liabilities

• Liabilities

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Instant messaging - Risks and liabilities

1 Although instant messaging delivers many benefits, it also carries with it

certain risks and liabilities, particularly when used in workplaces. Among these risks and liabilities are:


Protection and indemnity insurance - Growth of third party liabilities

1 It was intended to cover liabilities for loss of life and personal injury and

also the collision risks excluded from the current marine policies,

particularly the excess above the limits in those policies


Protection and indemnity insurance - Growth of third party liabilities

1 Following the grounding of the Torrey Canyon in 1967, coverage for the

liabilities, costs and expenses arising from oil spills became an increasingly

important aspect of PI insurance.


List of publications in economics - The pricing of options and corporate liabilities

1 * The Pricing of Options and Corporate Liabilities Journal of

Political Economy '81', 1973, 637–654.


Asset liability management - Non-maturing liabilities specificity

1 As these instruments do not have a contractual maturity, the bank needs to dispose of a clear understanding of their duration level within the banking books. This analysis for non-maturing liabilities such as non interest-bearing deposits

(savings accounts and deposits) consists of assessing the account holders behavior to

determine the turnover level of the accounts or decay rate of deposits (speed at which the

accounts 'decay', the retention rate is representing the inverse of a decay rate).


Asset liability management - Non-maturing liabilities specificity

1 #To assign maturities and re-pricing dates to the non-maturing liabilities

by creating a portfolio of fixed income instruments that imitates the cash-flows of the liabilities positions.


Balance sheet - Liabilities

1 # Financial liabilities (excluding provisions and accounts payable),

such as promissory notes and corporate bonds


Balance sheet - Liabilities

1 # Liabilities and assets for current tax


Liabilities

1 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 is implied by a set of circumstances in a particular situation, as opposed to a contractually

based obligation.


Liabilities

1 The accounting equation relates assets, liabilities, and ownership equity|owner's

equity:


Liabilities

1 The Bangladesi Accounting Research Foundation [http://www.aarf.asn.au/] 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.


Liabilities

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

those of the IASB.


Liabilities

1 Examples of types of liabilities include: money owing on a loan,

money owing on a mortgage, or an IOU.


Liabilities

1 'Liabilities' are debts and obligations of the business they represent as

'creditor's claim' on business assets.


Liabilities - Classification

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



1 *Current liabilities mdash; these liabilities are reasonably expected to be

liquidated within a year. They usually include payables such as wages, Account

(accountancy)|accounts, taxes, and accounts payable, unearned revenue

when adjusting entries, portions of long-term bonds to be paid this year, short-term obligations (e.g. from purchase of

equipment).



1 *Long-term liabilities mdash; these liabilities are reasonably expected not to be liquidated within a year. They usually include issued long-term Bond (finance)|bonds, notes

payables, long-term leases, pension obligations, and long-term product

warranty|warranties.



1 Liabilities of uncertain value or timing are called

provisions.


Mexican general election, 2006 - Assets, liabilities and annual expenses

1 As of January 2005, only three candidates had made a public

declaration of assets, liabilities and annual expenses. These figures were

given in Mexican peso|pesos, the total value of assets of each

candidate follows at an exchange rate of 10.62 pesos to one United

States dollar (Source: [http://www.banamex.com/

Banamex]):https://store.theartofservice.com/the-liabilities-toolkit.html

Lloyd's of London - Dilution of liabilities and the consequences

1 On each occasion the allegation that there had been a policy of recruit to dilute was rejected; however, at first instance the

judge described the Names as the innocent victims [...] of staggering incompetence and at appeal the court found (see

[http://www.hmcourts-service.gov.uk/HMCSJudgments/View.do?id=1297index=2maxIndex=4searchSimple=jaffraysearchSimpleWordType=1searchDateFrom_dd=searchDateFrom_mm=searchDateFrom_yyyy=searchDateTo_dd=searchDateTo_mm=searchDateTo_yyyy=searchCourtId=searchJudgeId=ascending=maxResults= appeal judgment]) that representations that Lloyd's

had a rigorous auditing system were false ([item 376 of the judgment:] [...] the answer to the question [...] whether there was in existence a rigorous system of auditing which involved the making of a reasonable estimate of outstanding liabilities,

including unknown and unnoted losses, is no


Fractional reserve banking - Creation of deposit liabilities through the lending process

1 Loans (assets) and deposits (liabilities) both rise....Federal

Reserve Bank of Chicago, Modern Money Mechanics, pp


Fractional reserve banking - Creation of deposit liabilities through the lending process

1 The American Bankers Association has also stated that most bank loans

are made not by doling out paper currency and coin, but instead by

creating or increasing deposit liabilities owed by the bank:


Contingent liabilities

1 A footnote to the balance sheet may describe the nature and extent of the contingent

liabilities


Deferred Tax - Deferred tax liabilities

1 Deferred tax liabilities generally arise where tax relief is provided in

advance of an accounting expense, or income is accrued but not taxed until received. Examples of such

situations include:


Deferred Tax - Derecognition of deferred tax assets and liabilities

1 Management has an obligation to accurately report the true state of

the company, and to make judgements and estimations where

necessary. In the context of tax assets and liabilities, there must be a

reasonable likelihood that the tax difference may be realised in future

years.


Deferred Tax - Derecognition of deferred tax assets and liabilities

1 In cases where the carrying value of tax assets or liabilities has changed, the

company may need to do a write down, and in certain cases involving in particular a fundamental error, a restatement of its

financial results from previous years. Such write-downs may involve either significant income or expenditure being recorded in

the company's profit and loss for the financial year in which the write-down takes

place.https://store.theartofservice.com/the-liabilities-toolkit.html

Partnership taxation (USA) - Assumption and contribution of recourse liabilities

1 Recourse liabilities assumed by the partner are treated as money

contributed to the partnership, which increases the partner's capital

account in the same manner as money.26 CFR 1.704-1(b)(2)(iv)(c) Meanwhile recourse liabilities that other partners assume from the

contributing partner shall decrease his or her capital account in the

same manner as money.https://store.theartofservice.com/the-liabilities-toolkit.html

Partnership taxation (USA) - Assumption and contribution of nonrecourse liabilities

1 A partnership liability is a nonrecourse liability if no partner or related person has an economic risk of loss for that liability. A partner's share of nonrecourse liabilities is generally proportionate to his or her share of partnership profits. However, this rule

may not apply if the partnership has taken deductions attributable to nonrecourse

liabilities or the partnership holds property that was contributed by a partner.


Partnership taxation (USA) - Assumption and contribution of nonrecourse liabilities

1 For more information on the effect of partnership liabilities, including rules for limited partners and examples,

see sections 1.752-1 through 1.752-5 of the regulations.


Partnership taxation (USA) - Partner's Share of Partnership Liabilities

1 Similarly, a decrease in a partner's share of partnership liabilities

decreases the partner's outside basis because the partner being relieved of

liability for a share of partnership debt is considered a deemed

distribution to the partner.


Partnership taxation (USA) - Partner's Share of Recourse Liabilities

1 (a) all partnership liabilities become due;


IAS 37 - Contingent assets and liabilities

1 IAS 37 generally defines contingent assets and liabilities as assets and liabilities that

arose from past events but whose existence will only be confirmed by the occurrence of

future events that are not in the entity's control. It establishes that contingent assets and liabilities are not to be recognized in the

financial statements, but that contingent liabilities are to be disclosed as long as the chance that they would cause outflows of

resources is not insignificant.


Current liabilities

1 In accountancy|accounting, 'current liabilities' are often understood as all

Liability (financial accounting)|liabilities of the business that are to be settled in cash within the fiscal

year or the operating cycle of a given firm, whichever period is longer.


Current liabilities

1 For example, accounts payable for goods, services or supplies that were purchased for use in the operation of

the business and payable within a normal period would be current

liabilities


Current liabilities

1 Therefore late payments from a previous fiscal year will carry over

into the same position on the balance sheet as current liabilities

which are not late in payment


Current liabilities

1 The proper classification of liabilities provides useful information to

investors and other users of the financial statements. It may be

regarded as essential for allowing outsiders to consider a true picture of

an organization's fiscal health.


Current liabilities

1 One application is in the current ratio, defined as the firm's current

assets divided by its current liabilities. A ratio higher than one means that current assets, if they can all be converted to cash, are more than sufficient to pay off

current obligations. All other things equal, higher values of this ratio

imply that a firm is more easily able to meet its obligations in the coming

year.


Current liabilities

1 In Bangladesh the issue of current liabilities are often seen as

overlapping among different types of liabilities.


Long-term liabilities

1 'Long-term liabilities' are liability (accounting)|liabilities with a future benefit over one year, such as notes payable that mature longer than one

year.



1 In accounting, the long-term liabilities are shown on the right wing

of the balance-sheet representing the sources of funds, which are

generally bounded in form of capital assets.



1 Examples of long-term liabilities are debentures, mortgage loans and

other bank loans. (Note: Not all bank loans are long term as not all are paid over a period greater than a

year, an example of this is a bridging loan.)



1 By convention, the portion of long-term liabilities that must be paid in

the coming 12-month period are classified as Current liability|current

liabilities



1 Also long-term liabilities are a way to show that you have to pay

something off in a time period longer than one year.


Banking in Iran - Summary of the assets and liabilities of the banking system

1 Liquidity funds (money and quasi-money) accounted for more than 39 percent of total

liabilities


State Bank of Pakistan - Bank assets and liabilities

1 This is a chart of trend of major assets and liabilities reported by

scheduled commercial banks to the State Bank of Pakistan with figures in

millions of Pakistani rupees.[http://www.sbp.org.pk/ecodata/deposits.pdf][http://www.sbp.org.pk

/ecodata/advances.pdf][http://www.sbp.org.pk/ecodata/

investments.pdf]https://store.theartofservice.com/the-liabilities-toolkit.html

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Liabilities