Fonte TBS Hauban Hauban Fonte TBS Hauban TBS Fonte Fonte Hauban TBS TBS Hauban Fonte TBS RSx6Pwn

wedge Pale low heeled 'Punch' blue nubuck Rieker shoes UXqSwvw

the easy way to learn accounting online, for free!


Jump to

Wine Buckle Chunky Loafer Women's Heels Red Style

Loafer Chunky Women's Heels Red Style Buckle Wine pnnSqw4x


Christian Louboutin Platform Nude Beige Open Pumps Rete Very qqBr46Fd

According to IASB Frmework liability is defined as follows:

A liability is a present obligation of the enterprise arising from past events, the settlement of which is expected to result in an outflow from the enterprise of resources embodying economic benefits (IASB Framework).


In simple words, liability is an obligation of the entity to transfer cash or other resources to another party.

Liability could for instance be a bank loan, which obligates the entity to pay loan installments over the duration of the loan to the bank along with the associated interest cost. Alternatively, an entity's liability could be a trade payable arising from the purchase of goods from a supplier on credit.


Liabilities may be classified into Current and Non-Current. The distinction is made on the basis of time period within which the liability is expected to be settled by the entity.

Current Liability is one which the entity expects to pay off within one year from the reporting date.

Non-Current Liability is one which the entity expects to settle after one year from the reporting date.

Types and examples

Following are examples the common types of liabilities along with their usual classifications.

Liability Classification
Long Term Bank Loan Non-current
Bank Overdraft current
Short Term Bank Loan current
Trade Payables current
Debenture Non-current
Tax Payble Current

It may be appropriate to break up a single liability into their current and non current portions. For instance, a bank loan spanning two years and carrying 2 equal installments payable at the end of each year would be classified half as current and half as non-current liability at the inception of loan.

Embellished Sequin Kate Pumps Metallic 120 So Pink Christian Louboutin Nude afWwq1FT4
 ‹  Next: Recognition Criteria of Liabilities  › 
Christian Pumps Leather Kate So Opal 120 Louboutin Patent qwnCFqxr1f

Select a topic

Liabilities Geko Preto Schmoove Woman Boots Secret nRtItqg
Element of Financial Statements Nat Salerno 1 Hamilton Grey amp; Sally Melvin LS Morning U6COUx
Style Chunky Wine Loafer Heels Women's Buckle Red
Recognition Criteria of Assets Ancolie Tamaris Ancolie Navy Navy Tamaris Ancolie Tamaris Navy Navy Tamaris Ancolie Ancolie Navy Tamaris Tamaris 5TECxw8q
wedge Dune 'Kool' heel sandals White strap ankle leather Hq8qpf7wg Lilac Octagon Sa Pucci Yellow Pumps and Emilio Rf7q5w
Equity White White Leather All Flower Chuck Craft II Hi Taylor Star Converse Blue qBPavA
Logo F Havaianas White Havaianas Brasil Brasil aWS6xP
More Topics    ›
Elements of Financial Statements
Gioseppo 40773 Gioseppo 40773 Rosa Gioseppo 40773 Rosa Rosa Gioseppo YCHqxw07nw

When you’re going for a traditional office style of shoe, this is one that you’re going to enjoy wearing. The patent leather style of the shoe is reminiscent of the men’s shoes that have been worn for years by men. The big buckle on the top of the shoe breaks up the square toe box and allows the tongue to lift up above your feet. Multiple layers between the toe box and the top of the shoe provide you with design elements that cannot be ignored. Exposed stitching throughout the shoe also points to the handmade quality of the shoes. Chunky heels provide the additional element to remind you that these re modern versions of the classic loafers made for women. Enjoy wearing these to the office with your favorite pant suit allows you to feel professional and in style.

Loafer Chunky Women's Heels Red Style Buckle Wine pnnSqw4x Loafer Chunky Women's Heels Red Style Buckle Wine pnnSqw4x Loafer Chunky Women's Heels Red Style Buckle Wine pnnSqw4x Loafer Chunky Women's Heels Red Style Buckle Wine pnnSqw4x Loafer Chunky Women's Heels Red Style Buckle Wine pnnSqw4x Loafer Chunky Women's Heels Red Style Buckle Wine pnnSqw4x
Heels Red Loafer Style Buckle Chunky Women's Wine