Course

Accounting Analysis II: Measurement and Disclosure of Liabilities


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The course on Disclosure of Liabilities next explores accounting model for leases, both lessees and lessors, and a discussion on deferred tax assets and liabilities.

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About this Course

This course Disclosure of Liabilities is the third course in the five-course Financial Reporting Specialization. This course begins with a discussion of current liabilities and contingencies and continues with long-term debt and bonds. Participants will learn the latest accounting standards including the new accounting model for leases effective for public companies in 2019 and private companies in 2020.

Syllabus – What you will learn from this course

WEEK 1
1 hour to complete

About the Course
In this module, you will become familiar with the course, your instructor and your classmates, and our learning environment. This orientation will also help you obtain the technical skills required to navigate and be successful in this course.

1 video (Total 1 min), 4 readings, 1 quiz
3 hours to complete

Disclosure of Liabilities: Current Liabilities and Contingencies
In this module, you will be introduced to the concepts of current liabilities and contingencies. You will learn how to classify liabilities as current or long-term, including consideration of provisions of loan agreements with call options. You will also identify the criteria for recognizing or and/or disclosing contingencies

9 videos (Total 54 min), 1 reading, 10 quizzes

WEEK 2
3 hours to complete

Disclosure of Liabilities: Long-Term Debt Part 1
In this module, you will be introduced to the concept of long-term debt. You will learn about the different types of bonds and how each type results in different accounting, including bonds sold at a premium, sold at a discount, and sold with issuance costs attached. The module also describes the fair value option that is offered for accounting for a bond.

9 videos (Total 62 min), 1 reading, 10 quizzes

WEEK 3
3 hours to complete

Disclosure of Liabilities: Long-Term Debt Part 2
In this module, long-term debt will be discussed more in-depth. Students will learn how to account for bonds sold at a discount or premium, between interest dates, or with conversion features. Early extinguishment of debt, modifications and troubled debt restructuring are also discussed.

10 videos (Total 65 min), 1 reading, 11 quizzes

WEEK 4
2 hours to complete

Disclosure of Liabilities: Lease Accounting Part 1
In this module, you will be introduced to the recently issued lease accounting standards issued by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board). Starting with the definition of a lease, this module will discuss features of the new model common to both lessors and lessees and then illustrate the classification of leases, initial recognition and measurement and subsequent measurement by lessees.

7 videos (Total 49 min), 1 reading, 8 quizzes

WEEK 5
2 hours to complete

Disclosure of Liabilities: Lease Accounting Part 2
In this module, we continue the discussion of the new lease accounting model. You will learn how to account for lease modifications and terminations. The accounting for lease and non-lease elements will be examined. The module then describes the accounting for lessors including sales-type, direct-financing, and operating leases. Our discussion of lease accounting concludes with the accounting for sales and leasebacks.

7 videos (Total 54 min), 1 reading, 8 quizzes

WEEK 6
2 hours to complete

Disclosure of Liabilities: Deferred Taxes Part 1
In this module, you will be introduced to deferred taxes. You will learn the differences between deferred tax assets/deferred tax liabilities and tax refunds receivable/taxes payable. Temporary and permanent tax differences and net operating loss (NOL) carrybacks and carryforwards are described. The module also includes discussion of intraperiod tax allocation and the effect of changes in tax rates.

9 videos (Total 56 min), 1 reading, 10 quizzes

WEEK 7
3 hours to complete

Disclosure of Liabilities: Deferred Taxes Part 2
In this module, our study of income taxes continues with a discussion about uncertain tax positions. The origin of the two-step recognition model and its application are discussed, including the recognition threshold, measurement criteria, and derecognition criteria, including accrual of interest and penalties on unrecognized amounts.

8 videos (Total 51 min), 1 reading, 10 quizzes

WEEK 8
1 hour to complete

Disclosure of Liabilities: Review and Evaluation
This module is for you to tell us what you think of the course.

1 video (Total 4 min), 4 readings

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