Liabilities and Life assurance: Difference between pages

From ACT Wiki
(Difference between pages)
Jump to navigationJump to search
imported>Doug Williamson
m (Categorise.)
 
imported>Doug Williamson
(Add link to Closed life consolidator page.)
 
Line 1: Line 1:
1. ''Financial reporting''.
''Insurance''


In financial reporting, liabilities are amounts or obligations of a reporting entity arising from past transactions or events, the settlement of which may result in the transfer or use of assets, the provision of services or other yielding of economic benefits in the future.
Life assurance - also known as life insurance - is a type of insurance which most commonly pays out to dependants on the death of the insured person.
 
Examples include overdrafts, trade payables, accruals and provisions.
 
Liabilities are represented in the balance sheet by credit balances.
 
 
2.
 
More generally, liabilities are any obligations or amounts owed to others (whether or not they are obligations of a financial reporting entity).




== See also ==
== See also ==
* [[Assets]]
* [[Assurance]]
* [[Balance sheet]]
* [[Closed life consolidator]]
* [[Capital]]
* [[Insurance]]
* [[Compound instrument]]
* [[Credit balance]]
* [[Disaggregation]]
* [[Equity]]
* [[Exemption clause]]
* [[Fair value]]
* [[Financial liability]]
* [[Financial reporting]]
* [[Indemnity clause]]
* [[Interest gap]]
* [[Liabilities and equity]]
* [[Mismatch]]
* [[Net assets]]
* [[Off balance sheet finance]]
* [[Offset]]
* [[Overdraft]]
* [[Provision]]


[[Category:Accounting,_tax_and_regulation]]
[[Category:The_business_context]]

Revision as of 21:56, 17 February 2019

Insurance

Life assurance - also known as life insurance - is a type of insurance which most commonly pays out to dependants on the death of the insured person.


See also