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According to Pedersen, the first second stage in developing cultural competency is:
Liability
An obligation of the company arising from past transactions or events, the settlement of which may result in the transfer of assets, provision of services, or other yielding of economic benefits in the future.
Accounts Payable
Liabilities representing amounts the company owes to suppliers or creditors for goods and services received but not yet paid for.
Vouchers
Documents representing an internal intent to make a payment to an external party, often used in accounts payable processes.
Written Authorizations
Official documents or agreements that grant permission or rights, often used to approve financial transactions or operations.
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