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i got a question about warranty(i.e. estimated liabilities)

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Selena



Joined: 18 Aug 2008
Posts: 1
Posted: Mon Aug 18, 2008 6:26 pm    Post subject: i got a question about warranty(i.e. estimated liabilities)  
Hi,
i am a student of ACC-102
i got a quastion
If warranty coverage extends beyond accounting period, how are related liabilities reported on the balance sheet?

please help me to figure it out

thank you
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Ahshucks



Joined: 22 May 2008
Posts: 50
Posted: Tue Aug 26, 2008 10:02 am    Post subject:  
You have to adjust your accrual for warranties based on the history of warranty costs. Or your projection of warranty expense over the warranty period. This should be defined as a policy or procedure.
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