This topic explores the balance sheet liabilities in more detail and explains the vital year-end adjustments and practices for their entry into the balance sheet.
This topic aims to increase your understanding of accounting principles and practices by solving the following problems:
- What are liabilities?
- What is the role of liabilities in my business?
- What is the difference between a non-current and current liability?
- What are the year-end accounting practices for liabilities?
- How do I enter liabilities into my balance sheet?