Current liabilities
What falls due within twelve months.
Short-term borrowing, trade payables, amounts due to the budget, to social insurance and to staff, plus the current portion of long-term debt.
This is the part of the liabilities that governs near-term solvency. Comparing it with current assets — the current ratio — is the standard first check.
A large balance owed to the budget or to employees reads differently from the same amount owed to suppliers: the first two rank ahead and are not rescheduled by agreement.
Where this figure comes from
Row 1695 of the Balance Sheet, closing column.
Related terms