ACCT10001 Lecture Notes - Lecture 8: Cash Flow Statement, Profit Margin, Quick Ratio

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Balance sheet disaggregates liabilities into current and non-current. Current due (or expected) to be settled within the next period (usually 12 months) And have been invoiced or formally agreed with the supplier. Liabilities to pay for goods or services that have been received/supplied. Have not been paid, invoiced or formally agreed with the supplier. Sometimes neccessary to estimate these amounts (e. g. ) accrued wages. Notes: disaggregation between trade payables, other payables and accruals. Things which aren"t material are classified under other rather than disclosed. Revenue that"s received but not earned yet (e. g. ) rent, insurance, subscriptions. Present obligation ouflow of economic benefit to produce the good/service. Written order to one party to make a specified payment to the named payee. Value of goods provided typically less than face value of the bill. Only pay the interest over the term of the loan. Then repay principal in a lump sum at maturity. Pay combination of principal and interest over term of the loan.

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