Current Liabilities

From Open Risk Manual

Definition

Current Liabilities. It is any liability which must be honored within one year (for instance, dividends, taxes, accounts payable, or payroll).

Current liabilities are those: [1]

  • expected to be settled within the entity's normal operating cycle
  • held for purpose of trading due to be settled within 12 months
  • for which the entity does not have the right at the end of the reporting period to defer settlement beyond 12 months.

Usage

XBRL Properties

  • IFRS Prefix: ifrs-smes
  • Element Name: Current liabilities [abstract]
  • Common Initials:
  • Element Type and Attributes: Aggregate
  • Hierarchy Level: 3
  • IFRS References:

References

  1. [IAS 1.69]