Liabilities are listed on a company’s balance sheet and expenses are listed on a company’s income statement. Expenses can be paid immediately with cash or the payment could be delayed which would create a liability. It’s a long-term liability if a business takes out a mortgage that’s payable over a 15-year period but the mortgage […]
Categoria: Bookkeeping
Introduction to Accounting: Summary
Need more resources to help you upskill and further expand your knowledge? Start with our comprehensive list of accounting courses and bookkeeping courses you should consider enrolling for. Determines the present value of the expected future cash flows from an investment or project, discounted back to the present at an appropriate discount rate. Refers to […]