Monday, June 20, 2011

LIST OF NON CURRENT LIABILITIES

NON CURRENT LIABILITIES
1. Noncurrent portion of long term debt
2. Finance lease liability
3. Deferred tax liability
4. Long term obligations to entity officers
5. Long term deferred revenue

________

• Debt obligations for borrowed funds --- notes, mortgages, and bonds payable
• Covenants--- if there is a breach of covenants, the liability becomes payable in demand and therefore considered a current liability. However, the liability is classified as noncurrent if the lender has agreed on or before the end of the reporting period to provide a grace period ending at least 12 months after that date.
• Refinancing on or before the end of reporting period

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