What are Liabilities in Accounting? | Detailed Explanation

What Are Liabilities in Accounting? | Detailed Explanation

In this video, we’ll provide an in-depth explanation of Liabilities.
This is one of the five main elements of financial statements that you need to understand to have a good grasp of the accounting process.

TIMESTAMPS:
00:00 Introduction
00:34 Practical definitions of a Liability
05:58 Technical definitions
06:55 Conceptual Framework definitions of a liability
15:06 IAS 1 coverage of current and non-current liabilities
20:53 Common examples of liabilities
24:17 The liabilities of TESLA

If you have any questions, tips, or ideas about Liabilities,
let us know in the comment section below!

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[Winevalleywoodworks]

that's some damn good accounting info