LIST OF CURRENT LIABILITIES

CURRENT LIABILITIES
1. Trade and other payables
2. Current provisions
3. Short term borrowings
4. Current portion of a long term debt
5. Current tax liability

Examples of Current Liabilities
• Accounts payable
• Notes payable
• Accrued interest on notes payable
• Income tax payable
• Dividends payable (not stock dividends) declared but not paid
• Accrued expenses
• Customer’s credit balances (not offset against accounts receivable)
• Accruals for employees ( salaries, wages, interest)
• Other operating costs
• Liabilities that are due for settlement within 12 months
• Bank overdraft
• Current portion of long term/noncurrent portion of financial liability
• Premium on bonds payable
• Refinancing after the end of reporting period and before the financial statement is authorized for issuance
• Amounts withheld for employees or other parties for taxes, and for contributions to SSS or to pension funds.
• Deposits and advances from customers, officers and shareholders
• Unearned Revenue (deferred revenue)
• Unearned Rent Income
• Provisions --- Premium, award points, court case, warranties, gift certificate, abandonment cost, bonus, guarantee