Each question should be answered in a min of 100 words. Questions are marked with a number.

Intermediate Accounting, Ch. 13

Gain and Loss Contingencies , Bryan Lichau ,

  1. Identify the criteria used to account for and disclose gain and loss contingencies.  
  2. Explain the accounting for different types of loss contingencies.


Current Liabilities, Bryan Lichau ,

  1. Describe the nature, type, and valuation of current liabilities.

Current Liabilities CHRISTINE MAJETTE, Bryan Lichau ,


  1. Is there a time factor in when a current liability is considered a current liability versus non-current?


Intermediate Accounting, Ch. 14

Long-Term Debt, Bryan Lichau ,

  1. Describe the formal procedures associated with issuing long-term debt.
  2. Explain the accounting for long-term notes payable.



  1. How to Account for Premiums and Coupons.
  1. How to Account for Long-Term Notes Payable Using the Fair Value Option.


Reading Concept Summary

Write a 260- to 350-word summary of this week’s readings.

Describe major concepts you learned.

Explain how you can apply what you learned to your current or future workplace.




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