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.