Financial Liabilities

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Financial Liabilities are what the business owes to others.

In a Balance Sheet Report, Financial Liabilities are listed in order of their required payment date.

  • Current Liabilities
    • Outstanding Suppliers Bills
    • Interest payable
    • Rent, tax, utilities
    • Wages payable
    • Customer prepayments
    • Dividends payable and others
  • Long-term liabilities
    • Interest and principle on bonds issued
    • Pension fund liability
    • Deferred tax liability

Note that some liabilities are off-balance sheet, meaning that they will not appear on the balance sheet. Operating leases are an example of this kind of liability.