Analyze the valuation and disclosure of liabilities in financial statements.

Analyze the valuation and disclosure of liabilities in financial statements.
Liabilities are debts of the business, and it is necessary to effectively manage them to protect the company. Companies have current assets that are due within 1 year and long-term assets due beyond 1 year. It is imperative that companies do not take on more obligations than they can handle, so understanding the impact they have on the accounts is essential. Accounting for liabilities affects the balance sheet and profitability of the company.
You will complete exercises in WileyPLUS for this module to learn how to prepare and practice the concepts of accounting. The activities in WileyPLUS will cover topics such as internal control, current assets, noncurrent assets, liabilities, and equity.
Here is a tutorial on “How to Complete Assignments” in WileyPLUS.
This competency assessment is divided into eight parts, one per criteria item. Please review the checklist criteria for additional details. You will be completing the problems and/or exercises in WileyPLUS by accessing the left-hand navigation bar under the “Competency Assessment” section.

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