Long-term liabilities include
unmatured principal on debt, capital lease obligations, compensated
absences, claims and judgments, and the proportionate share of net
pension obligations. The 2016 Codification, Section 1500 states
long-term liabilities should be categorized into fund long-term
liabilities and general long-term liabilities. This course review
long-term liabilities related directly to either proprietary or
fiduciary funds, related to governmental funds, and long-term
obligations.