Title: Module 3 Introduction: (CU3 M3) Current Liabilities and Long-term Debt
Course: SkillsCom BA 211 15.0 > Section: Credit Unit 3 Module 3

The Module begins by introducing the three categories of liabilities: known, estimated, and contingent. The chapter then explains current liabilities that must be estimated. Next, the chapter introduces you to long-term liabilities, with a focus on bonds. Then lease liabilities are covered. Finally, the chapter discusses financial reporting of current and long-term liabilities on the balance sheet.

Module Outcomes:

- Understand the interrelationship of accounting to other areas of business.
- Have familiarity with generally accepted accounting principles.
- Interpret the effect of business transaction on the accounting system.