answersLogoWhite

0


Best Answer

Using GAAP the terms Current Liabilities and Fixed Liabilities (Long-Term Liabilities) the differences are simple

Current Liabilities are liabilities that the company can expect to pay off in a short period of time (one year or less)

While Long-Term Liabilities (fixed) are liabilities that the company will pay over over a longer period of time (more than one year)

User Avatar

Wiki User

14y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Difference between current and fixed liabilities?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Difference between net worth and working capital?

Working Capital is the difference between Current Assets and Current Liabilities.Net Worth is Total Assets -Total Liabilities current asset-current Liability=Working Capital working Capital Plus+Fixed Asset-LongTerm Liabilities = Net Worth in another word: (Current Asset+Fixed Asset)-(current Liability+Long Term Liability)= Net Worth Now you got it ?


Is gross working capital refers to the company's investment in current assets?

Gross Working Capital is the difference between the current assets and current liabilities where 'current' implies 'within one year' i.e Working Capital = Current Assets - Current Liabilities Working Capital is added to the Fixed Assets to get Net Fixed Assets of a company. i.e. Net Fixed Assets = Fixed Assets + Working Capital


What is the shareholders equity if it has current assets of 2230 net fixed assets of 9900 current liabilities of 1380 and long-term debt of 4040?

Basic Accounting Equation: Assets = Liabilities + Owner's Equity Assets = Current Assets + Fixed Assets Liabilities = Current Liabilities + Long-term liabilities So Assets = Liabilities + Owner's Equity then current assets + fixed assets = current liabilities + long-term liabilities + owner's equity 2230 + 9900 = 1380 + 4040 + owner's equity 2230+9900 - 1380 - 4040 = owner's equity 6710 = owner's equity


What is the difference current liabilities and fixed?

A fixed liabilities are a type of debts, bonds, mortgages and loans that are payable over a term exceeding one year, whereas, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year......e.g, accounts payable for goods, services or supplies that were purchased for use in the operation of the business and payable within a normal period of time would be current liabilities P.s you know you can simply google this...just saying


Capital Employed is equal to?

Capital Employed = Fixed assets + current assets - current Liabilities


What is the format of a balance sheet?

The format of the Balance Sheet is Assets = Liabilities + Equity * Current Assets * Fixed Assets * -------------------- * Total Assets * Current Liabilities * Long Term Liabilities * -------------------------- * Total Liabilities * Equity * Net Income * ---------------------------- * Total Equity * -------------------------- * Total Liabilities and Equity


What is difference between fixed asset and non current asset in detail?

assests means


How to Compute Net Assets Value?

Net assets are calculated as: Fixed Assets+Current Assets-Current Liabilities-Preliminary expenses if any


The difference between fixed and variable inputs?

difference between fixed and variable inputs


What is difference between fixed asset and inventory?

What is the difference between fixed asset and inventory


What is difference between fixed asset and current asset?

The difference between current assets and fixed assets as follows: Current assets are flexible in nature, easy to encashable and floating money to company. Fixed assets are fixed in nature in other words non-moving assets, not easy to encash, and are regularly depreciated. Classification: Current assets: Cash - at hand and at bank Inventories Sundry Debtors Advance and Deposits Fixed Assets: Land and Building Furniture and Fittings Tools and tackles Plant and Machinery Computer (including assessories and UPS)


What is the difference between fixed assets and non current assets?

Fixed assets and non-current assets are basically the same. Both are defined as assests that are utilized or depreciated by a company over the course of more than a year.