value of the reporting units to the consolidated market capitalization. Balance Existence or Completeness Rights and Valuation or Presentation and Accounts Occurrence Obligations Allocation Disclosure Accounts payable The use of The accounts The company has Accounts payable The accounts secondary sources, payable account an obligation to should be recorded payable account such as the should be linked to pay off any consistently at should be disclosed business or purchases made by accounts payable. gross or net as an obligation in customer involved the company over amounts. the current liabilities in the transaction, the course of section of the should be used to business in order balance sheet. validate the to check the accounts payable completeness of account on the the account. books. Accrued liabilities Confirming with Accrued liabilities The company has Accrued liabilities Accrued liabilities outside sources should include all an obligation to should be should be presented can the expenses that the pay for any and all presented appropriately in the existence of company has accrued liabilities according to the current liability accrued liabilities incurred but has within the appropriate rate. section, and notes and the rates at not yet paid. required date or should disclose what which they are period. liabilities are parts of accrued. the account. Current portion of Secondary sources, The account The company has The current The current portion long-term debt like creditors, should include all an obligation to portion of of long-term debt should be used to portions of debt pay off any and all debt should should be disclosed
value of the reporting units to the consolidated market capitalization. Balance Accounts Existence or Occurrence Completeness Rights and Obligations Valuation or Allocation Presentation and Disclosure Accounts payable The use of secondary sources, such as the business or customer involved in the transaction, should be used to validate the accounts payable account on the books. The accounts payable account should be linked to purchases made by the company over the course of business in order to check the completeness of the account. The company has an obligation to pay off any accounts payable. Accounts payable should be recorded consistently at gross or net amounts. The accounts payable account should be disclosed as an obligation in the current liabilities section of the balance sheet. Accrued liabilities Confirming with outside sources can the existence of accrued liabilities and the rates at which they are accrued. Accrued liabilities should include all expenses that the company has incurred but has not yet paid. The company has an obligation to pay for any and all accrued liabilities within the required date or period. Accrued liabilities should be presented according to the appropriate rate. Accrued liabilities should be presented appropriately in the current liability section, and notes should disclose what liabilities are parts of the account. Current portion of long-term debt Secondary sources, like creditors, should be used to The account should include all portions of debt The company has an obligation to pay off any and all The current portion of debt should The current portion of long-term debt should be disclosed