What are LIABILITIES?

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What are Liabilities? Liabilities are a business' obligations to third parties that require a sacrifice of economic benefit in the future. A business owes liabilities to third parties and Equity back to its owners. Together these represent one half of the balance sheet. With Assets on the other side.
Liabilities can be Current or Non-Current. Current Liabilities are short-term liabilities. These are a business's obligations that need to be settled within one year. Non-Current Liabilities are long-term liabilities that aren’t
expected to be settled within 1 year.
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[@AccountingStuff]

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[@nitenderbisht]

Hey can you make videos about Accounting Standards?

[@AccountingStuff]

Thanks for your request! I'll keep it in mind for future videos :)

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[@AccountingStuff]

Glad you liked it!

[@user-my9gw5vd4z]

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[@AccountingStuff]

They are. You can find the one on Liabilities here: ruclips.net/video/fKRwT10Sszc/видео.html

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I wish I was an accountant

[@AccountingStuff]

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