Liabilities

These are the financial obligations that your business is required to pay. In simpler terms, this is what you owe external parties or businesses. For example if you acquired a bank loan for your business, what you owe your bank is a liability.

  • Current Liabilities – These are the things you expect to pay within 12 months of the date on the balance sheet. Examples include: short-term loans, wages payable and accounts payable.
  • Non-Current Liabilities – These are your long-term debts which are not payable within 12 months of the balance sheet. Examples include: long term loans, and bonds payable.

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PO Box 425, Marrickville
NSW 1475 Australia

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Phone

Address

Sydney, Australia
PO Box 425, Marrickville
NSW 1475 Australia

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