You have joined Cavanaugh, Inc. in its first year of operations as the staff accountant. The fiscal year end is September 30^th, 2022. This will be the companys first set of financial statements. As of September 30^th, the company has current and long term obligations. The CEO is wondering if the company can list all of the liabilities with one total (Total Liabilities).

Accounting Issue: Can the Balance Sheet present/list all of the liabilities and only include a Total Liabilities amount

1. Codification Reference:

Your interpretation of the guidance