The total amount owed by a company to other agents that needs to be paid within a year of the balance sheet date. Liabilities represent the probable economic outflows, and can include provisions for legal costs/losses, money paid to to creditors and auditors, and wages (but only if paid on credit).
Articles in this section
- What is a LEI number?
- On a balance sheet: what is Cash?
- What is stock (Capital or Equity)?
- What are Other Short Term Finances?
- What is overdraft in a balance sheet?
- What are Trade Debtors?
- What are Current Assets?
- What are Fixed Assets?
- What are Intangible Assets?
- What are Tangible Assets?