- Division: Finance
- Topic: Accounting
- Level: upper-intermediate B2-C1
BALANCE SHEET - LIABILITIES
About the lesson
In this lesson you will:
- study: a text of ca. 720 words
- learn:
- what is understood as liabilities in accounting
- how liabilities are divided on the balance sheet
- what shareholders’ equity is composed of
- how liabilities are recorded on the balance sheet
- study vocabulary:
- 52 words and expressions useful in talking about liability accounts on the balance sheet
- e.g.: deferred revenues, shot-term payables, current liabilities, share premium, treasury stock, accrued expenses, contra liability accounts, discounts, unearned revenues, in advance, outstanding shares, retained earnings etc.
- practise vocabulary in 4 units composed of 5 tasks each
- complete approx. 210 questions during the whole lesson
- test your knowledge of the vocabulary studied
You might also be interested in other lessons in this section covering similar ground. The whole section is composed of the following:
- BOOKKEEPING
- ACCOUNTING POLICIES, STANDARDS, ASSUMPTIONS
- ACCOUNTING PRINCIPLES AND CONCEPTS
- FINANCIAL STATEMENTS
- BALANCE SHEET - ASSETS
- BALANCE SHEET - LIABILITIES
- THE P&L ACCOUNT, ACCRUALS, DEFERRALS
- DEPRECIATION
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Details:
Division: Finance
Topic: Accounting
Level: upper-intermediate B2-C1
Duration: ca. 90 minutes