Current-liability foundations

Unit 8: Accounting for Current Liabilities and ContingenciesTopic 1 of 4

Browse the Financial Accounting and Analysis syllabus

Financial Accounting and Analysis

15 units

1 Basic Understanding of Financial Accounting
2 Conceptual Framework of Accounting
3 Accounting Process
4 Accrual Basis of Accounting
5 Accounting for Inventories and Cost of Goods Sold
6 Accounting for Cash and Internal Control
7 Accounting for Receivables
8 Accounting for Current Liabilities and Contingencies
9 Accounting for Long-Lived Assets
10 Accounting for Long Term Liabilities
11 Accounting for Shareholders' Equity
12 Basic Financial Statements
13 Cash Flow Statement
14 Value Added Statement
15 Analysis of Financial Statement

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What the syllabus expects

Concept and nature
Accounts payable
Notes payable
Tax payable
Accrued expenses and unearned income
Current maturities of long-term debt

Current-liability foundations

Bachelor of Business Studies (BBS) — First Year

Subject: Financial Accounting and Analysis (MGT 211)

Unit 8: Accounting for Current Liabilities and Contingencies

Academic Year: 2083/84

Topic Objectives

After studying this topic, students should be able to:

Explain the scope and key elements of current-liability foundations.
Identify the accounting treatment, prepare relevant records or calculations and interpret their financial effects.

Curriculum Scope

Concept and nature
Accounts payable
Notes payable
Tax payable
Accrued expenses and unearned income
Current maturities of long-term debt

Detailed Microsyllabus

Current-liability foundations
1. Obligations classified as current in the exercise.
2. Accounts, notes and taxes payable.
3. Accrued expenses and unearned revenue.
Classification and effects
1. Current maturities of longer-term obligations.
2. Recognition and settlement of short-term debts.
3. Effects on liquidity and working capital.

Curriculum reference: Tribhuvan University, Faculty of Management, BBS curriculum with first-year syllabus, PDF pages 20-22.

Source note: The curriculum scope above is retained from the existing TU syllabus breakdown. The numbered study subtopics are editorial elaborations for teaching and study, rather than a separately issued TU syllabus. Unit lecture hours apply to the whole unit; no separate topic hours or marks are assigned here.