Page 169 - F3 -FA Integrated Workbook STUDENT 2018-19

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Chapter 12

Payables, provisions and contingent

liabilities

Outcome

By the end of this session you should be able to:

 classify items as current or non-current liabilities

 identify and explain examples of payables

 define and illustrate the different accounting treatments of ‘provisions’,
‘contingent liabilities’ and ‘contingent assets’

 prepare calculate and record provisions and movements in provisions

and answer questions relating to these areas.

The underpinning detail for this Chapter in your Notes can be found in
Chapter 12 of your Study Text

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