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  • Initial Measurement Subsequent Measurement Transaction Cost Recognition of Liabilities Contingent Liabilities Financial Liabilities

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    Karylle Ynah Malana
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    This document discusses six examples of financial liabilities, including their definitions and transaction examples. It also briefly describes the differences between contingent assets and contingent liabilities, and how they are presented in financial statements. Finally, it examines the initial measurement, subsequent measurement, transaction costs, recognition, and treatment of contingent liabilities for financial liabilities.

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    This document discusses six examples of financial liabilities, including their definitions and transaction examples. It also briefly describes the differences between contingent assets and contingent liabilities, and how they are presented in financial statements. Finally, it examines the initial measurement, subsequent measurement, transaction costs, recognition, and treatment of contingent liabilities for financial liabilities.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    10 views1 page

    Initial Measurement Subsequent Measurement Transaction Cost Recognition of Liabilities Contingent Liabilities Financial Liabilities

    Uploaded by

    Karylle Ynah Malana
    This document discusses six examples of financial liabilities, including their definitions and transaction examples. It also briefly describes the differences between contingent assets and contingent liabilities, and how they are presented in financial statements. Finally, it examines the initial measurement, subsequent measurement, transaction costs, recognition, and treatment of contingent liabilities for financial liabilities.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    1.

    Give 6 Examples of Financial Liabilities


    a. Define each six Financial Liabilities
    b. Give each six example transaction problems
    c. Journalized each six transaction problems with description of the
    events.

    1. 2. 3. 4. 5. 6.
    Definition
    Transaction
    Problems

    2 Described briefly the difference between Contingent asset and


    Contingent liability. How it is presented in the Financial Statement.

    Contingent Asset Contingent Liability

    3. Discuss the following:


    a. Initial measurement of financial liabilities
    b. Subsequent measurement
    c. Transaction cost
    d. Recognition of Liabilities
    e. Contingent Liabilities 
    Initial Subsequent Transaction Recognition of Contingent
    Measurement Measurement Cost Liabilities Liabilities
    Financial
    Liabilities

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