deferred liability

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.
Mentioned in ?
References in periodicals archive ?
Upon completion, Innovation paid USD900,000 and has withheld the remainder to settle a deferred liability assumed before closing.
Gartner analysts said one way to characterize this backlog of deferred liability is to see it as a debt incurred in previous years that will need to be paid off at some time.
The proceeds will be used to settle the Scarborough Vendors Group deferred liability of STG29.
If the impairment write-down reduces the book basis of tax deductible goodwill below the tax basis, the entire deferred liability would be reversed and a deferred tax asset would be recognized, subject to valuation allowance considerations.
ANM previously submitted recommendations on topics such as universal mail delivery, the postal monopoly, the deferred liability crisis, controlling costs, adjustments in service, competition with the private sector, and USPS governance and oversight.
Since the deferred liability needs to be $5,010, a credit of $3,510 is needed.
Under Statement 96, a deferred tax asset can be recognized only for the tax benefit of net deductible amounts that can be realized by loss carryback from future years to reduce (1) a current deferred liability and (2) taxes paid in the current or prior years.
The $450 difference in the first year represents a deferred liability on the balance sheet.
5 million pre-tax gain will be recognized in the fourth quarter with the residual gain recorded as a deferred liability on the balance sheet.
Deferred liability losses allowed a 10-year carryback period are amounts allowable as a deduction, other than those under Sec.
A net deferred liability does not result from the reversal schedule above so, in summary, there should not be any deferred tax asset or liability recorded at the end of 1991.
The tax rate used to measure a deferred liability or asset may vary, depending upon when the difference is expected to reverse.