Current Liabilities
From Open Risk Manual
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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]
