In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer. A more complete definition is that current liabilities are obligations that will be settled by current assets or by the creation of new current liabilities.
What Is a Financial Option? The Complete Beginner’s Guide to Financial Options
If you lack a foundation of financial accounting and want to start from scratch, you can consult my book:
