Tag: liability

Deferrals Definition

See Also: Deferred Income Tax Accrual Based Accounting Accounting Principles Generally Accepted Accounting Principles (GAAP) Financial Accounting Standards Board (FASB) Deferrals Definition A deferral is used in accrual based accounting when an asset or liability has not been realized. It is recognized however because it will be recognized at a future date. Often times, a

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Contingent Liability

See Also: Current Liabilities Balance Sheet Accounting Principles Accounting Concepts Subsequent Events Contingent Liability Definition A contingent liability, defined is an obligation that a company might or might not have to recognize. This is because the event(s) are uncertain. It is also necessary for future events to occur to determine whether or not the obligation

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Arrears

See Also: Dividend Payout Ratio Dividends Dividend Yield Analysis Preferred Stocks (Preferred Share) Define Payment Terms Arrears Definition Arrears is defined as an amount of a liability which is past due or has simply not been paid yet. There are generally two types of arrears concerning annuities and loans, and the second is in respect

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