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What Are Liabilities? (SIMPLE Explanation)
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LIABILITIES
- Discover what Liabilities mean in Accounting.
- This episode is part of a series exploring Accounting Basics.
- In this Accounting tutorial you’ll hear the definition of Liabilities in Accounting.<
LIABILITIES
- Discover what Liabilities mean in Accounting.
- This episode is part of a series exploring Accounting Basics.
- In this Accounting tutorial you’ll hear the definition of Liabilities in Accounting.
- I'll also take you through the common types of Liability that are worth knowing about.
TIMESTAMPS
- 00:00 - Intro
- 01:18 - Liabilities Definition in Accounting
- 03:34 - What are Current Liabilities?
- 03:43 - Accounts Payable
- 05:45 - Salaries Payable 06:19 - Accruals
- 07:40 - Unearned Revenue 08:04 - Short Term Loans
- 08:18 - What are Non-Current Liabilities?
- 08:37 - Long Term Loans 08:45 - Bonds
- 09:23 - What are Contingent Liabilities?
- 09:40 - How Contingent Liabilities work
