Forensic accounting examination: Reference lecture notes.

By Shamshuddin Attar

Feb 10 2020





Forensic accounting examination: Reference lecture notes.

Skillful finding of the answer to this question is a defining measure of quality of the carried-out examination.


1. Kamlyk MI Forensic Accounting. Textbook. K .: Attica, 2001.187p.

2. Muminova-Savina GG Forensic Accounting: Textbook. – method. way. for self. studied discipline. – K. KNEU, 2004 .– 268p.

3. Savchenko LI Forensic accounting examination: Reference lecture notes. – K.: KNTEU, 2001 .– 148s.

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Commitments: definition and characterization of species. Abstract

According to UAS 2 "Balance Sheet", a liability is an indebtedness of an enterprise that has arisen as a result of past events and the repayment of which in the future is expected to reduce the enterprise’s resources embodying economic benefits.

Liabilities arise from existing (due to past transactions or events) debts of the enterprise for the transfer of certain assets or services to another enterprise in the future. Thus, liabilities are debts of the enterprise, which arises mainly in connection with the purchase of goods and services, on credit, or loans that the company receives for its financing.

Not all economic liabilities are taken into account, but only those arising from the implementation of contracts concluded by the enterprise or the implementation of actions with which financial law associates the occurrence of obligations to make payments to the budget and relevant extrabudgetary bodies.

The classification of liabilities on various grounds can be presented in the following table (Table 1.).

Classification feature

Type of liabilities

Brief description

By complexity


Repayable in one payment


Includes a primary obligation and a set of secondary obligations

Definitely in time

Limited in time

The term of fulfillment of the obligation is determined in time


The term of fulfillment of the obligation is not determined in time

To ensure the fulfillment of obligations


Execution of which is secured by collateral


Execution of which is not provided

Depending on the basis of the obligations


Arise from the agreement, the agreement of the parties


Arise regardless of the will of the parties to the agreement

By method of repayment


Reflect the amount of cash payable to creditors


Obligation to supply goods or services of a certain quantity and quality

By time of occurrence


Arise as a result of operations and other events in the past

The future

They are determined by management’s decision to acquire assets in the future and are not a reason to form a present obligation. The decision to acquire assets in the future does not give rise to current liabilities, areas arise only when the asset is delivered or when a contract is concluded that is not subject to cancellation, for its acquisition. However, if the liabilities are based on annual purchases or are of a permanent nature, the entity may recognize future arrears as a liability.

By maturity


Includes loans received, bonds issued, mortgages issued, promissory notes issued, lease obligations, etc., if they are matured for more than one year


Liabilities satisfied through the use of current assets or the creation of other short-term liabilities (arrears of payments to the budget for taxes and other payments, accounts payable to suppliers and contractors for goods, works, services received from them; arrears of wages; insurance debt, advance payments to customers, short-term bank loans, accrued dividends, interest, etc.)

On the possibility of evaluation


Arise as a consequence of contractual relations or legislative acts, their amount can be estimated quite accurately. Actual liabilities are divided into two types: documentary and accounted for.


The amount of the estimated liabilities cannot be determined before the due date. Estimates include tax liabilities to the budget

Conditional (non-existent, potential)

Liabilities caused by conditional facts of economic life. Contingent liabilities are not recorded in the main information set and are not reflected in the financial statements, they are disclosed in the form of notes.


Repayment of the obligation may occur: payment of cash in cash or non-cash form; credit settlements; transfer of other assets; provision of services; replacing the obligation with another; transformation of liabilities into capital; refusal of the creditor from their rights or deprivation of them. The use of non-cash, cash or credit form of payment between the recipient and the payer is determined by the contract.

For the recognition of liabilities, two conditions must be met in accordance with UAS 11:

their assessment can be reliably determined; there is a possibility of a decrease in economic benefits due to their repayment.

In UAS 11 "Liabilities" there is no definition of criteria for recognition of a particular type of liability. Liabilities arise on the balance sheet of the enterprise and are reflected in the financial statements in the following cases:

when recognizing an asset acquired in debt; when creating collateral at the expense of expenses (reserve for vacation pay and other collateral) of the reporting period, accompanied by an increase in costs and an increase in liabilities; with a decrease in collateral and an increase in liabilities.

The classification of liabilities for their reflection in accounting in accordance with UAS 11 is shown in Fig. 2.

Fig. 2.


Current liabilities

Liabilities to be repaid during the operating cycle, or to be repaid within 12 months from the balance sheet date:

Short-term bank credits

current debt on long-term liabilities

short-term bills issued

accounts payable for goods, services, works

current arrears on settlements received in advance, with the budget and extra-budgetary payments, wages, with participants, internal settlements, other current liabilities

Long-term liabilities

All liabilities that are not current:

long-term bank credits

other long-term financial liabilities

deferred tax liabilities


liabilities, with an indefinite amount or maturity at the balance sheet date:

additional pension provision

fulfillment of warranty obligations


fulfillment of obligations under onerous contracts

Contingent liabilities

a liability that may arise from past events and whose existence will be confirmed only when one or more uncertain future events occur (over) over which the entity has no full control

a present obligation that arises from past events but is not recognized because it is unlikely that the settlement will require the use of resources embodying economic benefits, or because the amount of the obligation cannot be measured reliably.

Income may. periods

Revenues received by the enterprise in the reporting period, but those related to subsequent periods


Current liabilities are repaid from current assets, which include cash and other resources that can be considered to be converted into cash or used within one year from the balance sheet date or during the normal operating cycle of the enterprise (from two terms). choose longer).

The definition of a long-term liability can be represented by a diagram (Fig. 3).

The part of long-term liabilities that is repayable within 12 months from the balance sheet date is reflected in current liabilities for long-term liabilities.

Valuation of liabilities plays a significant role in shaping the accounting policy of the enterprise. The application of the precautionary principle, which involves the use in accounting of valuation techniques that should prevent understatement of the amounts of recognized liabilities, is important in valuing liabilities. Due to the principle of continuity, the assessment of the company’s liabilities is carried out on the assumption that its activities will continue.

Fig. 3.

Long-term liabilities




Current liabilities


Interest payables that are to be recognized in current liabilities under long-term liabilities (ie payable within 12 months of the balance sheet date) continue to be long-term if:

the original maturity is a period exceeding 12 months

prior to the approval of the financial statements there is an agreement on the re-issuance of this obligation for the long term


Obligations under which the following conditions are met:

the terms of the agreement must be violated

Prior to the approval of the financial statements, the lender agreed not to demand repayment of liabilities due to its violation

further violations of the loan agreement are not expected within 12 months from the balance sheet date


The following types of estimates are used to determine the carrying amount of liabilities (see Figure 4).

According to UAS 11 "Liabilities" in the Balance Sheet (f.