Current liabilities
Current liabilities are obligations that will come due within 1 year or within the operating cycle, whichever is longer.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Current liabilities. Obligations that will come due within 1 year or within the operating cycle, whichever is longer.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
