liability

The liability is a 'monetary equivalent'. So on the balance sheet there is a creditor for money received in advance for work which doesn't relate to the year the accounts relate to.

A liability means there is an obligation.

Posted By: love win or die on December 28th 2006 at 11:29:17

Message Thread

Any accountants in (NCFC) - Gerald C Creosote, Dec 28, 11:16:12
- If you have any doubts or trouble with it (NCFC) - cardinal, Dec 28, 12:09:01
- Deposits... (NCFC) - love win or die, Dec 28, 11:18:31
  - So although (NCFC) - Gerald C Creosote, Dec 28, 11:23:42
    - liability (NCFC) - love win or die, Dec 28, 11:29:17
      - No lost me (NCFC) - Gerald C Creosote, Dec 28, 11:39:03
        
        ... (NCFC) - love win or die, Dec 28, 11:43:22
        
        Presumably done because in providing the service (NCFC) - duke of york, Dec 28, 11:49:01
        
        Correct (NCFC) - love win or die, Dec 28, 11:52:26

Reply to Message

In order to add a post to the WotB Message Board you must be a registered WotB user.

If you are not yet registered then please visit the registration page. You should ensure that their browser is setup to accept cookies.