2.1 Definitions 2.2 Costs included as r&D 2.3 Cost treatment 2.4 Conceptual evaluation of accounting for R&D costs 3. identifiable intangible assets Unidentifiable intangibles 5. Disclosure of intangibles 5.1 In period intangible assets are acquired 5.2 In each period company presents a balance sheet 6. Conceptual evaluation of accounting for intangible Lesson 10 CURRENT LIABILITIES AND CONTINGENCIES Conceptual overview of liabilities Nature and definition of current liabilities 2.1 Liquidation expected within a year or an operating cycle, whichever is longer 2.2 Liquidity and financial flexibility 2.3 Classification Valuation of current liabilities Current liabilities having a contractual amount Current liabilities whose amounts depend on operations 6. Current liabilities requiring amounts to be estimated 7. Contingencies 7.1 Definition in fasb statement no 7.2 Accrual of loss contingencies 7.3 Disclosure of loss contingencies in notes to financial statements 7.4 Disclosure of gain contingencies in notes to financial statements Other liability classification issues 8.1 Short-term debt expected to be refinanced Presentation of current liabilities in the financial statement editor 8.2 Classification of obligations that are callable by the cr Lesson l1 long-tErm liabilItIEs AND receivables 1. Reasons for issuance of long-term liabilities 2.2 Bond selling price 2.3 Recording the issuance of bonds 2.3. Premium on bonds payable: adjunct account 2.3.2 Discount on bonds payable: contra 2.3.3 Carrying(book) value 24. Bonds issued between interest payment dates 2.5 Amortizing discounts and premiu Straight-line method 2.5.2 Effective interest method- 6 - 2.1 Definitions 2.2 Costs included as R&D 2.3 Cost treatment 2.4 Conceptual evaluation of accounting for R&D costs 3. Identifiable intangible assets 4. Unidentifiable intangibles 5. Disclosure of intangibles 5.1 In period intangible assets are acquired 5.2 In each period company presents a balance sheet 6. Conceptual evaluation of accounting for intangibles Lesson 10 CURRENT LIABILITIES AND CONTINGENCIES 1. Conceptual overview of liabilities 2. Nature and definition of current liabilities 2.1 Liquidation expected within a year or an operating cycle, whichever is longer 2.2 Liquidity and financial flexibility 2.3 Classification 3. Valuation of current liabilities 4. Current liabilities having a contractual amount 5. Current liabilities whose amounts depend on operations 6. Current liabilities requiring amounts to be estimated 7. Contingencies 7.1 Definition in FASB Statement No. 5 7.2 Accrual of loss contingencies 7.3 Disclosure of loss contingencies in notes to financial statements 7.4 Disclosure of gain contingencies in notes to financial statements 8. Other liability classification issues 8.1 Short-term debt expected to be refinanced 8.2 Classification of obligations that are callable by the creditor 9. Presentation of current liabilities in the financial statements Lesson 11 LONG-TERM LIABILITIES AND RECEIVABLES 1. Reasons for issuance of long-term liabilities 2. Bonds payable 2.1 Terms 2.2 Bond selling prices 2.3 Recording the issuance of bonds 2.3.1 Premium on bonds payable: adjunct account 2.3.2 Discount on bonds payable: contra account 2.3.3 Carrying (book) value 2 4. Bonds issued between interest payment dates 2.5 Amortizing discounts and premiums 2.5.1 Straight-line method 2.5.2 Effective interest method