ACCT 2101 Lecture 11: Chapter 10: Accounting for Long term Liabilities

A study reports that 29% of employees in finance and accountingwitnessed the falsifying or manipulating of accounting informationin the past year. This includes nondisclosure of some long-termliabilities. What risks does a business face for not disclosingsome of its long-term liabilities? What could the business possiblybenefit by not disclosing some of its long-term liabilities?

The Matching Principle of accounting states that we shouldrecord revenues and the expenses related to those revenues in thesame period. If we did not adopt the Matching Principle ofaccounting, what would be the effect on our financial statements inthe short term, and in the long term? Adopting the MatchingPrinciple of accounting requires that accountants do more work. Isit really worth the additional effort?

Please I have accounting exam tomorrow i need some example ofthe test to work on it the subject of the test will be:

Depreciation , Long term financing, and Asset value