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Liabilities

97 resources created by 75 users

This Liabilities page on GoConqr gathers community-made quizzes, mind maps, flashcards and notes on topics such as bonds payable, leases, provisions and contingencies, pensions and current liabilities. It's built for university students and professional candidates working through financial accounting, and for teachers after ready-made material. There are over 90 resources here, including more than 30 quizzes and more than 30 mind maps, made by over 70 contributors. Try a quiz to find your gaps, then open a mind map to fill them.

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Top Liabilities resources

Quizzes

See all 34 quizzes

Mind maps

See all 36 mind maps

Flashcards

See all 19 flashcards

Flowcharts

Notes

Topics in Liabilities

Current and Non-Current Liabilities22Provisions and Contingencies15Bonds and Long-Term Debt18Lease Accounting19Pension and Postretirement Benefit Accounting13

More Accounting and auditing topics

Auditing and Assurance FundamentalsFinancial Statements and Cash FlowsIntroduction to AccountingCost Concepts and ClassificationFinancial Reporting and IFRS StandardsManagement Accounting and Performance MeasurementAccounting Principles and Conceptual FrameworkFinancial Statement Analysis and RatiosThe Accounting Equation and Double-Entry BookkeepingNon-current and Intangible AssetsAccounting Information SystemsTaxation and Individual Income TaxThe Accounting Cycle and Adjusting EntriesBusiness Finance and Investment Appraisal

About Liabilities

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What this page covers

Liabilities sits in the strand Financial Accounting: Assets, Liabilities and Equity, within Accounting and auditing. The resources here follow the main kinds of obligation a business reports: current liabilities, bonds and long-term debt, leases, provisions and contingencies, and pensions.

Where to start

Begin with the basics. The flashcard deck Liabilities lists accounts payable, accrued liabilities, unearned revenue, notes payable and taxes payable, with a short definition for each. Then try the quiz FA chapter 9 quick check, which asks about estimated liabilities and warranty obligations, or the quiz FA chapter 9 quiz, which covers classifying liabilities as current or non-current.

Moving on to bonds, leases and provisions

Once current liabilities feel familiar, move to long-term debt. The quiz Bonds Payable looks at initial measurement, and the flashcard deck Accounting 201- Chapter 10 covers terms such as debenture, callable bond, coupon rate, bond premium and bond discount.

For leases, the mind map Leases sets out classification, the lessor and lessee views, and possible indicators of a finance lease. The quiz Final - ACCT 201B tests lease classification and the lease receivable account. For provisions, the mind map LKAS 37 Provisions,Contingent Liabilities and Contingent assets covers recognition and measurement criteria. Candidates preparing for ACCA SBR will also find the flashcard decks SBR - Chapter 5 and SBR - Lease.

Using quizzes and mind maps together

  1. Take a quiz without notes and see which questions you miss.
  2. Open the mind map on that topic and read the branches that match your gaps.
  3. Go over the flashcards for the terms you mixed up.
  4. Retake the quiz a few days later.

Some resources are in Spanish, such as the mind map Capitulo 14. Pasivos no circulantes, and a few titles are only loosely related, so check the title before you open one.

Make it your own

Pick the liability type you find hardest, take one quiz on it, and then build a short mind map or flashcard set of your own from what you missed.

Frequently asked questions

Which resource should I open first?

Start with the flashcard deck Liabilities, which defines accounts payable, accrued liabilities, unearned revenue, notes payable and taxes payable. Then take the quiz FA chapter 9 quick check to see how well the basics have stuck. After that, move on to bonds, leases or provisions.

What do the mind maps on this page cover?

There are over 30 mind maps. They cover leases, finance and operating lease accounting, provisions and contingencies under IAS 37, pensions and postretirement benefits, non-current liabilities, financial liabilities, warranty liabilities and bonds. A few are written in Spanish.

Are these resources free to use?

Yes. Every resource listed here is free to open, study and take, with no account needed. They were made by GoConqr users, not by GoConqr itself, so styles and depth vary from one resource to the next.

Is there anything for ACCA SBR?

Yes. The flashcard decks SBR - Chapter 5 and SBR - Lease are listed here, and the mind maps and quizzes on provisions and leases fit the same areas. Check each resource against your own syllabus, since contributors write them independently.

Which resources help with leases?

Try the mind map Leases for classification and finance lease indicators, then the quiz Final - ACCT 201B. The flashcard deck IFRS16 Leases and the note Operating leases - lessee lessor give extra practice from both the lessee and lessor sides.

What if the topic I need is missing?

Look through the pensions, provisions, bonds and current liabilities resources first, as topics often overlap. If you still can't find it, a free account lets you make your own quizzes, mind maps, flashcards and notes, and keeps your quiz scores.

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