<p>Week 5: Long-Lived Assets and Liabilities, and Time Value of Money - Discussion</p><p>Accounting for Liabilities (graded)</p><p>In this area, we will discuss different types of liabilities and understand how to account for and report those liabilities. </p><p>Why are liabilities classified on a balance sheet as current and non-current? Who wants to know? What is the benefit of knowing this information?</p><p>Responses</p><p>Responses are listed below in the following order: response, author and the date and time the response is posted. Response Author Date/Time Welcome to week 5 3/10/2013 11:10:08 AM threaded Professor Wilson discussions! Class, </p><p>As we start the discussions for week 5, please consider the following: </p><p>In this area, we will discuss different types of liabilities and understand how to account for and report those liabilities. </p><p>Why are liabilities classified on a balance sheet as current and non-current? Who wants to know? What is the benefit of knowing this information? </p><p>Prof Wilson </p><p>RE: Welcome to week 5 Geri Waldbillig 3/31/2013 2:28:21 PM threaded discussions! Current liabilities are those that are due in 12 months or less. Non current liabilities are due after 12 months. Investors are interested in knowing the current and non current liabilities as it help paint a picture of where the company stands as far as debt owed to other entities. </p><p>RE: Welcome to week 5 Zach Monroe 3/31/2013 5:56:21 PM threaded discussions! One of my classmates has already mentioned that the difference between current liabilities and non-current is that the current liabilities expect to be settled within twelve months and the non-current liabilities don't expect to be liquid within twelve months. As far as the benefit for the company itself I would say that knowing how liabilities are classified actually makes it possible to calculate ratios for financial analysis, like liquidity, solvency and profitability. </p><p>RE: Welcome to </p>