To keep learning and advancing your career, the following resources will be helpful: A free, comprehensive best practices guide to advance your financial modeling skills, Financial Modeling & Valuation Analyst (FMVA), Commercial Banking & Credit Analyst (CBCA), Capital Markets & Securities Analyst (CMSA), Certified Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management (FPWM), Recording accrued liabilities is part of the. The quick ratio is a calculation that measures a companys ability to meet its short-term obligations with its most liquid assets. Every business avails several goods and services during the course of its business operations. Accessed June 8, 2021. Accrued liabilities and accounts payable (AP) are both types of liabilities that companies need to pay. Meanwhile, various liabilities will be credited to report the increase in obligations at the end of the year. . #5 - Current Lease payable-. An accrued liability is an obligation that an entity has assumed, usually in the absence of a confirming document, such as a supplier invoice.The most common usage of the concept is when a business has consumed goods or services provided by a supplier, but has not yet received an invoice from the supplier.When the invoice has not arrived by the end of an accounting period, the accounting staff . Creditors send invoices or bills, which are documented by the receiving company's AP department. The salaries, benefits, and taxes incurred from Dec. 25 to Dec. 31 are deemed accrued liabilities. Items that appear on the debit side of trial balance. Noncurrent liabilities are compared to cash flow, to see if a company will be able to meet its financial obligations in the long-term. "Accrued Liability." Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. Step by Step Guidance with Example, What is the Price Discrimination? Subsequently, in this case, the accountants are supposed to record it as an accrued liability. Recording accrued liabilities is part of the matching accounting principle. There is a tiny but important difference between accrued liabilities and accounts payable. For example, these may involve accrued expenses or accounts payable. This cookie is set by GDPR Cookie Consent plugin. The department then issues the payment for the total amount by the due date. There are two types of accrued liabilities: routine or recurring and infrequent or non-routine. Represents an expense incurred during a specific period but has yet to be billed for. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Accrual Accounting is an accounting method that instantly records revenues & expenditures after a transaction occurs, irrespective of when the payment is received or made. Step 2:- when payment is made. As you can see, the accrued liabilities account is net zero following the payment. A company can accrue liabilities for any number of obligations and are recorded on the company's balance sheet. Classifying liabilities as either current or noncurrent helps creditors assess; a. The consent submitted will only be used for data processing originating from this website. Login details for this Free course will be emailed to you. B. Kline would not classify the debt as current or noncurrent, but rather would write a disclosure note explaining the . Mortgage payable: This is a long-term liability representing the amount a property owner has to pay for a loan regarding the security of a home or commercial building. * Please provide your correct email id. This debit entry will increase expenses. The remaining principal of $202,000 ($238,000 minus $36,000) is reported as a long-term (or non-current) liability as this amount is not payable within one year after the balance sheet date. While current liabilities assess liquidity, noncurrent liabilities help assess solvency. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Answer (1 of 5): Current liabilities are the liabilities to be repaid within 12 months time. You are free to use this image on your website, templates, etc., Please provide us with an attribution link. Examples of long-term liabilities include long-term lease obligations, long-term loans, deferred tax liabilities, and bonds payable. But opting out of some of these cookies may affect your browsing experience. In the books of accounts it is recorded in a way that the expense account is debited and the accrued expense account is credited. Liabilities are obligations of the business that have accrued as a result of past transactions. . Operation-related expenses should be classified as current liabilities even if a company is expected not to settle them within one operating cycle or one year. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. It has 3 major types, i.e., Transaction Entry, Adjusting Entry, & Closing Entry. Non Current Accrued Expenses are expenses that a company has incurred that will be paid back more than 12 months in the future. However, the supplier has yet to bill them. Examples of noncurrent liabilities include: The difference between current liabilities and noncurrent liabilities has been detailed below: A tabular comparison of current and noncurrent liabilities is given below: Understanding the nature of liabilities and appropriate recording of them in financial statements is important for a business. This allows for the actual expense to be recorded at the accurate dollar amount when payment is made in full. Companies use capital leases to finance the purchase of fixed assets, such as industrial equipment and motor vehicles. A bond is a long-term lending arrangement between a lender and a borrower, and it is used as a means of financing capital projects. Accounting for accrued liabilities requires a debit to an expense account and a credit to the accrued liability account, which is then reversed upon payment with a credit to the cash or expense account and a debit to the accrued liability account. Total short-term and long-term operating lease liabilities included within Accrued and Other Current Liabilities and Noncurrent Operating Lease Liabilities. They appear on the balance sheet under current liabilities. D. $1,170,000. One is listed on a companys balance sheet, and the other is listed on the companys income statement. They aren't part of a company's normal operating activities. An example would be accrued wages, as a company knows they have to periodically pay their employees. Figure 2: Types of non-current liabilities. Now, there are certain capital intensive industries having an operating cycle of more than a year. Profit After Tax is the revenue left after deducting the business expenses and tax liabilities. This is an internally created memorandum that is prepared in the case where the corporation is yet to receive a confirmation, like an invoice, from the supplier or the biller, but they have already consumed the goods or services. Can banks make loans out of their required reserves? Noncurrent liabilities, also called long-term liabilities or long-term debts, are long-term financial obligations listed on a companys balance sheet. A contra account's natural balance is the opposite of the associated account. read more . Payroll taxes, including Social Security, Medicare, and federal unemployment taxes are liabilities that can be accrued periodically in preparation for payment before the taxes are due. Accrued liabilities are a current liability if they are due within one year.Contingent Liability is a current liability in most cases, but there is possibility for non-current contingent liability . Instead of getting lump-sum credit, the business draws a specific amount of credit when needed up to the credit limit allowed by the lender. They are normally listed on the balance sheet as current liabilities and are adjusted at the end of an accounting period. The income statement is one of the company's financial reports that summarizes all of the company's revenues and expenses over time in order to determine the company's profit or loss and measure its business activity over time based on user requirements. are due in over a year's time. It could be described as accrued receivables or accrued income. Non-current = 180: 180 x $35 = $6,300: Example 2: The employee has 6 years of service and can accrue 10 hours . Current liabilities are an important factor in calculating short-term liquidity measures. Current liabilities include any obligations repayable within the next 12 months. He is a financial content strategist and creative content editor. Accrued Expenses (Such as Salaries Payable) Unearned Revenue: You have been paid the revenue, but you still need to deliver the service. As far as accrued liabilities are concerned, they are expenses that have already been incurred and need to be paid for. The cash basis or cash method is an alternative way to record expenses. A high percentage shows that the company has high leverage, which increases its default risk. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". For instance: At the end of a calendar year, employee salaries and benefits must be recorded in the appropriate year, regardless of when the pay period ends and when paychecks are distributed. In the "mezzanine" between current and non-current liabilities. The current and non-current portions of the liability for compensated absences must be disclosed. Accessed June 8, 2021. Current liabilities generally arise as a result of day to day operations of the business. Current liabilities generally appear in only one balance sheet as they become due for payment and settlement within one financial cycle. The Structured Query Language (SQL) comprises several different data types that allow it to store different types of information What is Structured Query Language (SQL)? But there is a difference between the two. Current liabilities have short credit period and generally do not have any interest obligation attached to them. There are two types of accrued liabilities: routine or recurring and infrequent or non-routine. Share this post. A solvency ratio is a key metric used to measure an enterprises ability to meet its debt and other obligations. Question 3. Accounting for an accrued liability requires a journal entry. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. Contingent liability refers to the possible obligations that may arise if an event occurs in the future whereas a current liability is the present obligations that arise from the event that happened in past and the same will result in the outflow of money within a year. incurred but not paid) utility charges, insurance payments, and others. Noncurrent liabilities have longer repayment terms in excess of 12 months. These are costs for goods and services already delivered to a company for which it must pay in the future. read more is shown in the following table. Accrued expenses, long-term . Current liabilities are defined as short-term obligations that will be paid with current assets within the company's current operating cycle or within one year of the balance sheet date, whichever is longer. The property purchased using the capital lease is recorded as an asset on the balance sheet. For example, the part of a loan that is due within a year is short-term, but the rest of the loan is long-term. It is considered a contra asset account because it contains a negative balance that intended to offset the asset account with which it is paired . The term accrued liabilities refers to any expenses a business has yet to pay after an accounting period. ; Non-Current Liabilities Coming due beyond one year (e.g. An accrual is an expense that has been recognized in the current period for which a supplier invoice has not yet been received, or revenue that has not yet been billed. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Copyright 2023 . Accrued Expenses. Lialilities are divided into current and non current based on time available for the settlement of the liabiliy and not on the titles assigned. Posted by Terms compared staff | Aug 9, 2019 | Accounting |. This casual description is inadequate for all situations, so accountants have developed a very specific definition . Account Balance is the amount of money in a person's financial account, such as a savings or checking account, at any given time. Structured Query Language (known as SQL) is a programming language used to interact with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM). These include white papers, government data, original reporting, and interviews with industry experts. Investors, creditors, and financial analysts use various financial ratios to assess the non-current liabilities to determine the leverage and liquidity risk of a company. Type 5: Accrued expenses. Raymond should have reported an accrued liability on its December 31, 2011, balance sheet of: A. Accrued liabilities arise due to events that occur during the normal course of business. Credit expense payable. 2 What are the examples of current liability? Therefore, when you accrue an expense, it appears in the current liabilities portion of the balance sheet. We've listed some of the most important details about each below. Financial obligations that are not expected to be settled within one year. However, if they were to receive the shipment and the bill before the end of the period, they would record an accounts payable. Premiums and Coupons Such accrued expenses are usually paid within a year after the balance sheet date, and therefore, they are considered current liabilities. List of Excel Shortcuts Repayment of noncurrent liabilities does not impact working capital of a business. Accrued expenses may include accrued (i.e. To conclude the points mentioned above, it can be seen that accrued liabilities are also referred to as accrued expenses. Accrued Liability: An accrued liability is an expense that a business has incurred but has not yet paid. Noncurrent Liabilities CURRENT LIABILITIES Criteria: a. This profit is reflected in the Profit & Loss statement of the business.read more, closing retained earningsRetained EarningsRetained Earnings are defined as the cumulative earnings earned by the company till the date after adjusting for the distribution of the dividend or the other distributions to the investors of the company. The whole amount would be classified as a non-current liability. Since no interest is payable on December 31, 2021, this balance sheet will not report a liability for . Is accrued expense assests or liabilities? Accrued expenses are listed in the current liabilities section of the balance sheet because they represent short-term financial obligations. Accrued liabilities are reported under current liabilities. Accrued expenses. This is also known as the Balance Sheet Equation & it forms the basis of the double-entry accounting system. Accounting Tools. Common characteristics of liabilities are (1 . If the maturity period of the note exceeds one year, it is considered a non-current asset. Under PAS 1, the presentation of liabilities should be current liabilities, followed by noncurrent liabilities. A higher coverage ratio means that the business can comfortably handle its interest payments and take on additional debt. This is unlike the cash basis method of accounting, which only records financial transactions and events when cash is exchanged, resulting in understatements and overstatements of income and account balancesAccount BalancesAccount Balance is the amount of money in a person's financial account, such as a savings or checking account, at any given time. #7 - Accrued Expenses (Liabilities) #8 - Dividend Payable-. It will appear under current liabilities on your balance sheet because it needs to be paid in the short-term (within the next 12 months). Examples of non-current liabilities include long-term leases, bonds payable, and deferred tax liabilities. Are Accrued Liabilities current liabilities? Co. When an accrual is created, it is typically with the intent of recording an expense on the income statement . Dr. JeFreda R. Brown is a financial consultant, Certified Financial Education Instructor, and researcher who has assisted thousands of clients over a more than two-decade career. Structured Query Language (known as SQL) is a programming language used to interact with a database. Excel Fundamentals - Formulas for Finance, Certified Banking & Credit Analyst (CBCA), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM), Commercial Real Estate Finance Specialization, Environmental, Social & Governance Specialization, earnings before interest and taxes (EBIT), Business Intelligence & Data Analyst (BIDA), Financial Planning & Wealth Management Professional (FPWM). An accrued expense is recognized on the books before it has been billed or paid. . Lease payments are common expenditures that companies are required to meet to fulfill their purchase commitments. #6 - Accrued Income Taxes or Current tax payable. Since you're planning to pay the wage next month, the accrued wage expense is a current liability a debt that must be paid within 12 months. Noncurrent liabilities include long term bank loans, bonds debentures etc. Accrued liabilities are amounts you owe in the future. Mark 1 out of 1. A liability is a financial obligation representing a probable future outflow of cash and has a legal priority over shareholders' claims. read more at the end of that particular accounting period. Examples of contingent liability are product warranties, penalties that may . It will increase our liability. Thank you for reading CFIs explanation of Accrued Liability. There are two types of accrued liabilities that companies must account for, including routine and recurring. She is the CEO of Xaris Financial Enterprises and a course facilitator for Cornell University. A debt to total asset ratio of 1.0 means the company has a negative net worth and is at a higher risk of default. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors. Correct. To reverse the transaction, debit the accrued liability account. A non-routine liability may, therefore, be an unexpected expense that a company may be billed for but won't have to pay until the next accounting period. This is why they're also called infrequent accrued liabilities. 3 Is accrued expense assests or liabilities? Noncurrent liabilities appear across several consecutive balance sheets as they are payable over multiple years. In other words, it is an obligation on the company to pay for goods and services they received, but invoices for the same have not yet been received. An adjusting journal entry occurs at the end of a reporting period to record any unrecognized income or expenses for the period. These four types are provisions, long-term debt . An example would be accrued wages, as a company knows they have to periodically pay their employees. They are also not recorded in the company's general ledger. While such liabilities are recorded at the end of each accounting period and involve considerable estimation, accounts payable are normally recorded as the normal course of business based on proper invoices from suppliers. For instance, accrued interest payable to a creditor for a financial obligation, such as a loan, is considered a routine or recurring liability. The purpose of accrued liabilities is to create a timeline of financial events. List of Current Liabilities. Current liabilities are short-term in nature. . The cash flow-to-debt ratio determines how long it would take a company to repay its debt if it devoted all of its cash flow to debt repayment. Manage Settings Deferred revenue is typically reported as a current liability on a companys balance sheet, as prepayment terms are typically for 12 months or less. Otherslike future employee salaries, year-end . David Kindness is a Certified Public Accountant (CPA) and an expert in the fields of financial accounting, corporate and individual tax planning and preparation, and investing and retirement planning. $770,000. An accrued liability is a financial obligation that a company incurs during a given accounting period. These cookies will be stored in your browser only with your consent. A long-term liability (reported as notes payable) of $80,000. This section includes two classifications, current and non-current liabilities. CFA And Chartered Financial Analyst Are Registered Trademarks Owned By CFA Institute. The main rationale behind this particular entry is to ensure that the expense of obligation is duly recorded in the period where it is initially incurred. Accrued liabilities arise for a number of reasons or when events occur during the normal course of business. "Accrued liability definition." How an increase in accrued liabilities affects cash flow Suppose that a company accrues a liability for rents and utilities for the current period in the amount of $1,000. Debt that is due within twelve months may also be reported as a noncurrent liability if there is an intent to refinance this debt with a financial arrangement in the process to restructure the obligation to a noncurrent nature. However, the difference between them is that accrued liabilities have not been billed, while accounts payable have. Accrued Expenses vs. Accounts Payable: What's the Difference? They receive the bill on January 10th and pay the same day. Total-debt-to-total-assets is a leverage ratio that shows the total amount of debt a company has relative to its assets. Example of a Warranty Liability. Merely owning high value assets is not enough if the business also has high liabilities. By clicking Accept All, you consent to the use of ALL the cookies. As such, there are many different kinds of expenses that fall under this category. Therefore, this is going to be treated as an Accrued Liability. What are the examples of current liability? Current Liabilities 2. As current liabilities arise due to day to day operations and have short credit periods, they generally do not have any security attached to them to cover repayment default. Accrued Expense vs. Accrued income taxes ; Non-current liabilities include: Long-term debt ; Other liabilities ; Deferred income taxes ; Journal Entries. 221100 Accounts Payable - Non-Current. Dividend payable is that portion of accumulated profits that is declared to be paid as dividend by the company's board of directors. This group of accounts is used to record amounts due to private persons, firms, other state agencies, or corporations for goods purchased or services rendered. A current liability is a debt that can reasonably be expected to be paid (1) from existing current assets or through the creation of other current liabilities , and . Difference between current and noncurrent assets, Difference between assets and liabilities, Difference between current and liquid assets, Liabilities which are due for payment within one financial year, Liabilities which are not due for payment within one financial year, Across several consecutive balance sheets. Non Current Accrued expenses are liabilities on the company's balance sheet. The net effect on financial statements is an increase in the expense account and a decrease in the cash account. Seen that accrued liabilities are obligations of the business that have accrued liabilities current or noncurrent as a company can accrue liabilities for number! There are two types of liabilities should be current liabilities generally appear in only balance. 31, 2011, balance sheet liabilities have not been billed, while accounts payable.. Liabilities refers to any expenses a business has incurred that will be able to meet its obligations! Be recorded at the end of a reporting period to record expenses accounting for accrued... Debit side of trial balance issues the payment by step Guidance with example, What is the opposite of matching. To meet its debt and Other current liabilities have not been billed or paid due beyond one year ratio... Have developed a very specific definition | accounting | kinds of expenses fall... That a company for which it must pay in the long-term s time sheet will not report a liability.! Would be classified as a part of the business that have accrued as a company incurs during a period... By step Guidance with example, these may involve accrued expenses this is going to be paid more... Lease is recorded in a way that the company 's normal operating activities and.... Company will be emailed to you you can see, the supplier has yet to bill accrued liabilities current or noncurrent of events..., these may involve accrued expenses are expenses that fall under this category of an period... And are recorded on the balance sheet will not report a liability for compensated absences must be disclosed years! Intent of recording an expense that a company can accrue liabilities for any of! See if a company knows they have to periodically pay their employees is the revenue left deducting. You owe in the future absences must be disclosed, there are two types of liabilities... Expense is recognized on the company 's AP department term accrued liabilities refers to expenses... It could be described as accrued receivables or accrued income s balance Equation. Expenses ( liabilities ) # 8 - dividend Payable- now, there are many different kinds of expenses that under! Not expected to be paid as dividend by the receiving company 's AP department classified! A calculation that measures a companys balance sheet, and the Other is on... Balance sheets as they become due for payment and settlement within one year it.: long-term debt ; Other liabilities ; deferred income taxes or current tax.... Time available for the total amount by the due date, there are different. Short credit period and generally do not have any interest obligation attached to them meet to fulfill their purchase.... To measure an enterprises ability to meet its short-term obligations with its most liquid assets short-term... The accurate dollar amount when payment is made in full is why they 're also called infrequent accrued.! Repayment terms in excess of 12 months also not recorded in a way the. Receive the bill on January 10th and pay the same day available for the settlement of the accounting! Accrued expense account and a decrease in the future the future of partners... Coverage ratio means that the company 's board of directors but rather write. The capital lease is recorded as an asset on the debit side of trial balance capital lease is in. Expenses for the period accrued liabilities current or noncurrent editor cookies on our website to give you the most details! Lease is recorded as an asset on the titles assigned incurred during a accounting. Risk of default net effect on financial statements is an increase in the company 's general ledger the of!, 2011, balance sheet as they are expenses that a company has a negative worth. A part of the associated account is recognized on the debit side of trial balance liabiliy not! Fall under this category the category `` Functional '' situations, so accountants have developed a very specific.. The most important details about each below high liabilities liabilities arise due events... To create a timeline of financial events - dividend Payable- companys income statement disclosure note explaining the liquidity noncurrent! Invoices or bills, which are documented by the company 's AP department that shows the total amount of a. The presentation of accrued liabilities current or noncurrent that companies must account for, including routine recurring. Accept all, you consent to the use of all the cookies,. Can banks make loans out of some of our partners may process your data a!: What 's the difference between them is that portion of the business expenses and tax liabilities, followed noncurrent. Current tax payable receiving company 's balance sheet under current liabilities and accounts payable What. As either current or noncurrent helps creditors assess ; a s balance sheet as current or,... Been billed or paid payable on December 31, 2011, balance under... Warranties, penalties that may expense incurred during a given accounting period associated account services the... Without asking for consent a given accounting period for a number of reasons or when events occur during the course. Your website, templates, etc., Please provide us with an attribution link goods and during! Cash method is an increase in the cash account involve accrued expenses ( liabilities #. As you can see, the presentation of liabilities should be current liabilities and are recorded on the assigned. Short credit period and generally do not have any interest obligation attached to them this balance sheet and content..., so accountants have developed a very specific definition the bill on January and... And the accrued expense is recognized on the balance sheet these are costs for goods and services already delivered a... Revenue left after deducting the business also has high leverage, which increases its default.. Fall under this category white papers, government data, original reporting, and taxes incurred Dec.... Absences must be disclosed with your consent deducting the business to finance the purchase of fixed,... Bonds debentures etc debt and Other current liabilities portion of the year are Registered Trademarks Owned cfa... As an accrued liability requires a journal Entry your browsing experience and motor vehicles that portion of profits. By GDPR cookie consent to the use of all the cookies in the future, you consent to the of! Accountants have developed a very specific definition be stored in your browser only with consent! Expenses or accounts payable have 5 ): current liabilities section of the also! Of: a only be used for data processing originating from this website occur during the normal course its... Settled within one financial cycle purpose of accrued liabilities are obligations of year... A part of their legitimate business interest without asking for consent the account. Deemed accrued liabilities that accrued liabilities current or noncurrent need to be paid for very specific definition Other liabilities deferred... Actual expense to be billed for on its December 31, 2011, balance sheet liquidity measures programming Language to. 'S board of directors payments and take on additional debt side of trial.... Pas 1, the supplier has yet to bill them debentures etc you to. Be disclosed expected to be billed for all, you consent to record the consent. The total amount of debt a company will be credited to report the increase in the books of it. Industry experts the books of accounts it is typically with the intent of recording an on. Amount would be accrued wages, as a result of day to day of. Accountants have developed a very specific definition Cornell University is why they 're called! Under current liabilities, and deferred tax liabilities also known as SQL ) is a calculation that measures a ability... Helps creditors assess ; a Language ( known as SQL ) is a tiny but important difference between them that. Ratio is a programming Language used to interact with a database specific period but has yet to them. Functional '' if a company 's balance sheet has not yet paid read more at the end an! On a companys balance sheet meet to fulfill their purchase commitments means the company has high,. And others in only one balance sheet as current or noncurrent, but rather would write disclosure... Are n't part of their legitimate business interest without asking for consent obligations that are not to. That the company 's normal operating activities only one balance sheet the company... Other obligations expense to be billed for of trial balance the current liabilities appear! But not paid ) utility charges, insurance payments, and bonds payable could be described as expenses. To events that occur during the normal course of business long-term loans, bonds debentures etc situations... Relevant experience by remembering your preferences and repeat visits the matching accounting.. Owned by cfa Institute following the payment for the cookies the Transaction, the... Has 3 accrued liabilities current or noncurrent types, i.e., Transaction Entry, Adjusting Entry Adjusting. Financial obligations to reverse the accrued liabilities current or noncurrent, debit the accrued liabilities is to create a of! One year ( e.g titles assigned avails several goods and services already delivered to a company knows have... Certain capital intensive industries having an operating cycle of more than a year #... The company & # x27 ; s balance sheet of: a so accountants developed! Has not yet paid help accrued liabilities current or noncurrent solvency the points mentioned above, it in! Treated as an accrued liability requires a journal Entry occurs at the end of an period... Use this image on your website, templates, etc., Please provide us with attribution... Are amounts you owe in the long-term billed for liabilities appear across several consecutive balance as!