Class Discussion ACC-291

Class Discussion ACC-291

1. What is an accrued expense, why is it used and how is it accounted from one period to the next?
2. What is a bond and why do companies use them?   Do you think a bond sold at a discount is better or one at a Premium?
3. There is a GAAP principle that the accrual is a tool for.  Can any of you tell me what that principle is?
4. Brief discussion on Long-Term Liabilities.
5. Brief discussion on Off-Balance Sheet Financing.
6. Brief discussion on Capital Leases.
7. Brief discussion on Promissory Notes.

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An accrued expense is an expense that is recognized in the books before it is paid. It is recognized as a current liability in the books of the organization because there is the possibility that it will be collected in the current period. This also means it is highly periodic meaning it is recorded on a period to period basis. This could be annually or monthly depending on the books of the organization. When it comes….

APA

793 words