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When putting the financial liablilty on the FS, there are times when it is posted as a split between current and non current liabilities an dthere are times when it is not split and posted simply as a non current liability.
What is the distinction?
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Current liabilities are those that are due for settlement within the next 12 months
If it’s a debt that is due for repayment only in 3 years’ time, it will be shown entirely as deferred
If it’s a finance lease creditor, some of the capital will be repayable within the next 12 months but most of the debt will be in deferred liabilities
OK?
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