Let us now discuss the meaning of the term “long-term liabilities” and its differences from other types of liabilities. Long-term liabilities are those that the enterprise will have to pay in one year or more, a type of debt that is usually larger and longer. What, by contrast, are not long-term liabilities

What are the projected liabilities, whether current or non-current

Obligations that fall due within one year, such as short-term loans, notes payable, accounts payable, advances received, remuneration due to staff and dividends payable, are not long-term liabilities. Let us briefly explain these terms here. Short-term borrowings represent repayments due to the company for one year from banks and other financial institutions. The notes payable and accounts payable are those arising from the purchase of goods or the receipt of services, which require reimbursement within one year。

Advance payments are payments received by the enterprise for goods or services that have not yet been provided, whereas the remuneration due to employees and the dividends due to them are due for the salaries, bonuses, benefits, etc. of employees and the distribution of profits to shareholders, respectively。

So what's the projected liability? Anticipated liabilities are those arising from the existence of contingent matters (i.e., uncertain events, such as the defendant and the litigation), including guarantees, pending litigation, the price of Quality Assurance, the obligation to reorganize assets, and liabilities such as unused fixed assets and legal interests in mines. The liability is expected to be long-term, as a contingent risk situation needs to be resolved at a future time。

So, with regard to what is not a long-term liability, I hope this information will help you. Thanks again for reading