{"id":1371,"date":"2010-12-08T10:05:32","date_gmt":"2010-12-08T08:05:32","guid":{"rendered":"http:\/\/www.officetodo.com\/public\/?p=1371"},"modified":"2012-08-16T09:21:25","modified_gmt":"2012-08-16T07:21:25","slug":"excel-balance-sheet-template-liabilities","status":"publish","type":"post","link":"https:\/\/www.officetodo.com\/public\/excel-balance-sheet-template-liabilities\/","title":{"rendered":"Excel Balance Sheet Template – Liabilities"},"content":{"rendered":"

Excel Balance Sheet Template<\/strong> in its second half first discloses the company\u2019s liabilities. In normal course of business liabilities are booked when the company acquires assets. I say \u201cnormal\u201d because liabilities may also for an example be recorded due to provisions made to cover losses arising from law suits etc. The company is obliged to book all liabilities that more than likely require some resources to be disposed.
\n
\nIn our Excel Balance Sheet Template prepared under IFRS reporting the liabilities are presented in two groups \u2013 current and non-current. Obviously ones are payable in shorter term than others as the names of groups also suggest. As a general rule the liabilities deemed to be paid in next 12 months are classified as current and all other as non-current liabilities. Most liabilities are measured at fair value meaning the amount of cash or other equivalent asset that is required to be paid to settle the debt. For each type of liability specific measurement rules apply however.<\/p>\n

While the liabilities are rather straight forward and don\u2019t encompass very difficult accounting principles, the thing which companies forget the most, is proper classification of liabilities. Strictly speaking, every debt the company needs to settle in next twelve months is current. This also includes for an example loan balances, for which covenants are enforced by contractual agreement and which are breached at the balance sheet date. Such loan balances will usually end up in default by such breaches and are thus entirely payable in very short period of time. Such loans should be included in current liabilities as at balance sheet date.<\/p>\n

Another thing to remember in case of numerous loan balances, is to keep a list of those with due dates. Something a lot of companies forget is to reclassify loans with very long terms and one bullet payment. It may have been a non-current loan for so long that it you forget it\u2019s going to be current and payable in very short term.<\/p>\n

The liabilities in our Excel Balance Sheet Template include most common groups of liabilities and start from long-term debt. Since balance sheets vary from industries and because of local GAAP requirements that may apply, do also pay attention to the specifics not covered with our Excel Balance Sheet Template.<\/p>\n

Download template here<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Excel Balance Sheet Template in its second half first discloses the company\u2019s liabilities. In normal course of business liabilities are booked when the company acquires assets. I say \u201cnormal\u201d because liabilities may also for an example be recorded due to provisions made to cover losses arising from law suits etc. The company is obliged to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28,48],"tags":[],"class_list":["post-1371","post","type-post","status-publish","format-standard","hentry","category-4-reporting","category-4-3-balance-sheet"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/1371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/comments?post=1371"}],"version-history":[{"count":8,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/1371\/revisions"}],"predecessor-version":[{"id":3298,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/posts\/1371\/revisions\/3298"}],"wp:attachment":[{"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/media?parent=1371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/categories?post=1371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.officetodo.com\/public\/wp-json\/wp\/v2\/tags?post=1371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}