A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

I bitch about the Internal Revenue Code (a lot), but I'm smart enough to realize that courtesy of the complexities it contains, I will never run out of topics for Tax Geek Tuesday. If anything, my ...

Business leaders love to talk about revenues, net profits and assets. After all, those are all positive numbers on a balance sheet that can make a company look great. They are also how a company ...

Norwalk, Conn. — In a continuing effort to quickly converge at least a few U.S. standards to international standards, the Financial Accounting Standards Board is hammering out a proposal on liability ...