Current Liability (IES)
debt incurred by the reporting entity as part of normal operations and that is expected to be repaid during the following 12 months.
Current liability
A liability that will normally be repaid within a year.
D
Depreciation
The reduction in the book or market value of an asset, or the portion of an investment that can be deducted from taxable income.
Current liability
This is typically the accounts payable, short-term notes payable, and
accrued expense accounts on the balance sheet, or any other liabilities that are
expected to be liquidated within a short time interval.
Current Liability
Obligation whose LIQUIDATION is expected to require the use of existing resources classified as CURRENT ASSETS, or the creation of other current liabilities.
Current Liability: A current liability is a short-term debt or other debt expected to be paid out of current assets or to be transferred to income within a short period of time (usually one year).
Current liability
Money owed to the company and due to be paid within a year, such as accounts payable. Current liabilities are found on the company's balance sheet.
Current liability:
Any liability which must be honoured within one year.
Français: Dette courante
Español: Current liability ...
Noncurrent liability
A liability due in one year.
Non-Discretionary Proposal
A proposition on a proxy card requiring a response from the beneficial owner which does not fall under the Ten Day Rule.
Current liability
Amount coming due within a year; for example, accounts payable.
Current liability
A current liability is a liability due or payable within the next operating cycle or fiscal year, whichever is longer.
Current rate method of translation ...
A current liability representing the amount owed by a business to a creditor for the merchandise or services purchased on open account (i.e., without the giving of a note or other evidence of debt). It is also called "A/P" or just "Payables".
A current liability on the books of contractors where billings on contracts exceed accumulated costs.
Aggregating
The process of treating two or more agreements as one contract for the purpose of clearly reflecting income.
C/L - See Current Liability
C2B - consumer-to-business transactions
cA cB cC cD cE cF cG cH cI cJ cK cL cM cN cO cP cQ cR cS cT cU cV cW cX cY cZ ...
Any asset that is expected to be held for the whole year, not sold or exchanged, such as real estate, machinery, or a patent.
Noncurrent liability ...
Noncurrent liability A liability due in one year. Nondiscretionary trust A personal trust whose trustee has no discretion in deciding how income will be distributed to the beneficiary.
[EPA] accounts payable A current liability representing the amount owed by an individual or a business to a creditor(s) for merchandise or services purchased on an open account or short-term credit.
Ordinarily, this note would be moved to the current liability section. However, companies often renew such obligations, in essence, borrowing money to repay the maturing note.
Debts the company must pay off within the year; that is, they are a current liability. Typically, these debts are to the company's suppliers.
Non-Interest-Bearing Current Liability - NIBCL
A category of debt entered on the liabilities side of a balance sheet under current liabilities.
A current debt, or current liability, is due in under a year, and a long-term debt, or long-term liability, is payable in a year or more. Secured debt has collateral pledged as security against default, and unsecured debt does not.
Unearned Income: Payment received in advance for undelivered products or uncompleted service is unearned income and a current liability on business ledgers.
Money owed by a company for goods or services purchased, payable within one year. A current liability on the balance sheet.
Accounts Receivable ...
Account payable, many a times, also appears as a current liability in the balance sheet. One must note that loans and liabilities to the bank which have not maturated are not a part of account payable.
Debts of a company for goods or services purchased that must be paid within one year. These debts are listed as a current liability on the company's balance sheet.
Accounts ReceivableExpand/Collapse ...
For example, a loan for which two payments of $1000 are due, one in the next twelve months and the other after that date, would be 'split' into two: $1000 would be classified as a current liability, ...
Unearned revenue (unearned income). Income received but not yet earned, such as rent received in advance or other advances from customers. Unearned income usually is classified as a current liability on the balance sheet.
12 months gym membership being paid in the middle of the fiscal year. At the end of the year only six months of that income should be recorded in the profit and loss account. The rest would be recorded in the balance sheet as a current liability.
 See also: Expense, Bills, Banks, Saving, Compensation
  
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