Take this page:


Under liabilities you have current and non-current liabilities. What is the difference?

  • This could have been included in your other question.
    – quid
    Jun 3, 2016 at 17:30
  • 1
    I got half way through doing it and thought people would have said it was two questions in one. Jun 3, 2016 at 19:19
  • fair enough. I suppose it could go either way! :)
    – quid
    Jun 3, 2016 at 19:31

1 Answer 1


Current typically refers to a time line shorter than 12 months. At least that's what it means in the US, I'd imagine the same applies in the UK.

A current asset is something like cash, or a very short term security; a 9 month CD for example. A current liability can be something like a payable to a vendor.

There is also a situation where you have the current portion of a long-term liability. That could be the amount of a long term loan that's due in the next 12 months.

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