deferred liability

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Deferred Liability

1. Money that a company receives from a customer as prepayment for some good or service. A deferred liability is listed on a balance sheet as a liability until the good or service is delivered. This is because the company would have to return the money if it does not keep its end of the bargain as promised. A deferred liability is also called a deferred credit or deferred revenue.

2. See: Past-Due Payment.

deferred liability

A liability that usually would have been paid but is now past due.
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COA noted that instead of classifying the excess health insurance payments under the Other Deferred Credits account, COA considered the excess amount as income.
The contract covers the financing of extraordinary expenditures budgeted for fiscal year 2013 (excluding provincial administrative home) and deferred credits in 2012 (as well as possible budget changes) that may need to be funded 6/30/2014 by rights prints, or an annual amount of approximately 13 million, as and when required, as well as administrative services to afferents.
The deferred credits can be claimed under the following schedule: 50% of the deferred balance in 2013, 75% of the remaining deferred balance in 2014, and the remaining balance in 2015.
To correct this error, the company will now record construction allowances as deferred credits, which will be amortized as a reduction of rent expense over the lease term.
The temporary difference related to investment tax credits that are deferred for financial reporting purposes should be scheduled to result in future deductible amounts in the periods in which the deferred credits will be recognized for financial reporting purposes.
Normalized FFO for the three months ended September 30, 2008 excludes asset write-downs of $2,712,000 and the recognition into income of deferred credits totaling $4,121,000.
8 Unearned subscriber revenue and deferred credits 276.
Fitch believes that management has overall been successful with its strategy, generating almost $900 million of total after-tax net gains (including deferred credits recognized) on its transactions since the beginning of 2001.
The Company also is reviewing its accounting regarding the amortization lives for certain store leasehold improvements to determine whether additional amortization expense should be recognized, as well as its accounting for store lease construction allowances from landlords to determine whether such amounts should be reclassified as deferred credits rather than as reductions of leasehold improvements.
30, 2002 ASSETS Net Utility Plant $232,134 $207,498 Current Assets 13,031 13,040 Other Assets 25,352 20,308 Total Assets $270,517 $240,846 CAPITALIZATION AND LIABILITIES Shareholders' Equity $ 82,894 $ 74,081 Preferred Stock 847 847 Long-Term Debt 64,527 63,676 Current Liabilities 14,550 13,823 Other Liabilities and Deferred Credits 107,699 88,419 Total Capitalization and Liabilities $270,517 $240,846
25 Condensed Consolidated Balance Sheets (unaudited) (In thousands) March 31, March 31, 2003 2002 ASSETS Net Utility Plant $228,230 $202,792 Current Assets 11,873 10,762 Other Assets 25,209 19,870 Total Assets $265,312 $233,424 CAPITALIZATION AND LIABILITIES Shareholders' Equity $80,585 $70,885 Preferred Stock 847 847 Long-Term Debt 64,605 63,806 Current Liabilities 14,865 12,509 Other Liabilities and Deferred Credits 104,410 85,377 Total Capitalization and Liabilities $265,312 $233,424