Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

Calculating interest expense on a payable bond should be relatively straightforward, but then the accountants got involved. Generally accepted accounting principles, or GAAP, turn what is ordinarily a ...

Bonds are debt obligations issued by corporations and government entities. They are typically issued at face value and most are available in $1,000 increments. The durations of bonds can be as short ...

If you issue a bond at other than its face, or par, value, you must amortize the difference between the issue price and par. A premium bond sells for more than par; discount bonds sell below par.

Bonds and notes payable are two types of debt that companies can access to raise capital. Technically speaking, both are written agreements between the company and the lender defining how much will be ...