Question
In 2007, the Centro Group had incorrectly classified about $2 billion of short-term liabilities as non-current. As a result, a fine of $30,000 was imposed
In 2007, the Centro Group had incorrectly classified about $2 billion of short-term liabilities as non-current. As a result, a fine of $30,000 was imposed on Centro's former CEO, Andrew Scott, and a two-year management disqualification was ordered on former CFO, Romano Nenna.
Required:
Explain why classifyingcurrentandnon-currentliabilities is so important to a business?
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Advanced Accounting
Authors: Debra C Jeter, Paul K Chaney
5th Edition
1118022297, 978-1118022290
