Difference between revisions of "Current Liabilities"
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== Definition == | == Definition == | ||
'''Current Liabilities'''. It is any liability which must be honored within one year (for instance, dividends, taxes, accounts payable, or payroll). | '''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: <ref>[IAS 1.69]</ref> | ||
| + | |||
| + | * 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. | ||
| + | |||
| + | == References == | ||
| + | <references/> | ||
[[Category:Accounts Main]] | [[Category:Accounts Main]] | ||
Revision as of 00:16, 1 April 2021
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.
References
- ↑ [IAS 1.69]
