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Financial Accounting - Lecture 12

Lecture 12 - Current Liabilities and Contingencies

Current Liabilities and Contingencies and an Introduction to Long-Term Debt


1. Understand the nature and reporting requirement of short-term liabilities.

2. Illustrate the trade-off between reliability and relevance of accounting numbers in the accounting for contingencies.

3. Understand the time value of money and the mechanics of present value calculations.

Prof. Richard Frankel, Prof. George Plesko, Prof. Kin Lo
15.515 Financial Accounting, Fall 2003
(Massachusetts Institute of Technology: MIT OpenCourseWare)
Date accessed: 2009-04-30
License: Creative Commons BY-NC-SA

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