Home > Terms > English, UK (UE) > Current liability
Current liability
An entity shall classify a liability as current when: (a) it expects to settle the liability in its normal operating cycle; (b) it holds the liability primarily for the purpose of trading; (c) the liability is due to be settled within twelve months after the reporting period; or (d) the entity does not have an unconditional right to defer settlement of the liability for at least twelve months after the reporting period. An entity shall classify all other liabilities as non-current.
This is auto-generated content. You can help to improve it.
0
0
Improve it
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Financial services
- Category: Accountancy
- Company:
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
Industry/Domain: People Category: Entrepreneurs
John McAfee
The founder of McAfee, Inc. and lead designer on the McAfee anti-virus software, notable for being one the first successful shareware products. He ...
Contributor
Featured blossaries
Marouane937
0
Terms
58
Blossaries
3
Followers
10 Of The Most Expensive Hotel Room In The World
Category: Entertainment 1 10 Terms
Browers Terms By Category
- Cooking(3691)
- Fish, poultry, & meat(288)
- Spices(36)
Culinary arts(4015) Terms
- Dating(35)
- Romantic love(13)
- Platonic love(2)
- Family love(1)
Love(51) Terms
- Prevention & protection(6450)
- Fire fighting(286)
Fire safety(6736) Terms
- Hair salons(194)
- Laundry facilities(15)
- Vetinary care(12)
- Death care products(3)
- Gyms(1)
- Portrait photography(1)
Consumer services(226) Terms
- General jewelry(850)
- Style, cut & fit(291)
- Brands & labels(85)
- General fashion(45)