Assets =liabilities + owners equity
Short term loans, Insurance prepaid a/c
accounts payable short term loan payable
Some current assets include:CashMarket able securitiesA/C ReceivableSome current liabilities include:A/C payableNotes Payable
Non-current assets are assets for which useful life are expected to be used for > 12 months and classified according to company's capitalization policy. Examples are building, machinery, land,and motor vehicles. Non-current liabilities are liabilities not expected to be repaid in the next 12 months. Examples are long term bank loan and lease payable.
A financial liability is defined as the obligation to give cash to another entity under certain conditions. Some examples of financial liabilities are accounts payable and loans.
Assets =liabilities + owners equity
accounts payable short term loan payable
Short term loans, Insurance prepaid a/c
Some current assets include:CashMarket able securitiesA/C ReceivableSome current liabilities include:A/C payableNotes Payable
Non-current assets are assets for which useful life are expected to be used for > 12 months and classified according to company's capitalization policy. Examples are building, machinery, land,and motor vehicles. Non-current liabilities are liabilities not expected to be repaid in the next 12 months. Examples are long term bank loan and lease payable.
A financial liability is defined as the obligation to give cash to another entity under certain conditions. Some examples of financial liabilities are Accounts Payable and loans.
Current Assets:1 - cash2 - bank3 - inventoryCurrent liabilities:1- accounts payable2 - loan payable3 - tax payable etc
If you are asking the differences between the two, it is pretty much straightforward.Current Liabilities are any liabilities that you owe and you can reasonably pay off in one-year or less (or one accounting cycle) OR LESSNon-Current (aka Long-Term) Liabilities are liabilities that you cannot or do not expect to pay off in one year (accounting cycle), such as a Long Term Mortgage or Truck Note for examples.
Current Liabilities to Total Liabilities Ratio = Current Liabilities / Total Liabilities Current Liabilities to Total Liabilities Ratio = 7714 / 18187 Current Liabilities to Total Liabilities Ratio = 0.42 or 42%
Asset- An asset is something that the company owns. Examples of this are equipment, land, buildings, supplies, and cash. It can also include money owed to the company, and accounts receivable. Liabilities- A liability is something that the business owes to someone else. Some examples of this are loans and accounts payable.
liabilities can be classified as short term liabilities and long term liabilities