What is another name for financial liabilities? (2024)

What is another name for financial liabilities?

Liability is a fancy word for debt, or something that you owe.

What is a synonym for financial liability?

accountability burden culpability debt duty obligation. Strong matches. amenability amenableness blame compulsion indebtedness onus subjection susceptibility. Weak matches. accountableness arrearage owing.

What is considered as financial liabilities?

A financial liability is an obligation that a company or individual has to pay for or deliver. Examples include bank loans, leasing agreements, other payables, and interest-bearing financial liabilities.

What is other financial liability?

Other Financial Liabilities means all liabilities, obligations, contingencies, instruments and other Liabilities of any member of the Xxxx Xxx Group of a financial nature with third parties existing on the date hereof or entered into or established between the date hereof and the Separation Date, including any of the ...

What is another word for liabilities in accounting?

A sum of money that is owed or due. arrears. debit. debts. expenditure.

What is the antonym of financial liability?

The most appropriate antonym of the word "Liability" is "Asset."

What is the term for financially responsible?

The general concept of 'fiscal responsibility' or of being 'fiscally responsible' is used to define the delicate game of being financially smart – especially when it comes to 'big budgets' such as a country's GDP.

Is financial liability the same as debt?

In summary, all debts are liabilities, but not all liabilities are debts. Debt specifically refers to borrowed money, while liabilities refer to any financial obligation a company has to pay.

Which of the following is an example of financial liability?

Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses.

What is the difference between financial liabilities and payables?

Current liabilities are any debts due within 12 months. Accounts payable shows short-term debt owed to suppliers and creditors, making it a current rather than long-term liability. Additional examples of current liabilities include things like accrued expenses and notes payable.

What is other financial liabilities in balance sheet?

“Other liabilities,” as used in this section, includes all balance sheet liability accounts not covered specifically in other areas of the supervisory activity. Often they may be quite insignificant to the overall financial condition of a bank.

Are there 3 different types of liabilities?

What are examples of financial liabilities and non financial liabilities?

Examples of non-financial liabilities are contract liability, provision and deferred revenue while examples of financial liabilities are loans and borrowings, lease liabilities, derivative liabilities, financial guarantee contracts and payables.

Which is not an example of a financial liability?

A financial liability could be an account payable, or debt issued. A financial liability could not be GST payable, or income tax withheld because those are statutory and not contractual obligations.

What is other short term liabilities?

A short-term liability is a financial obligation that is to be paid within one year. This type of liability is classified within the current liabilities section of an entity's balance sheet. Examples of short-term liabilities are as follows: Trade accounts payable. Accrued expenses.

What is financial accountability?

Financial accountability results from holding an individual accountable for effectively performing a financial activity, such as a key control procedure within a financial transaction process. A well-defined financial accountability structure serves as the foundation for establishing effective financial processes.

What is another word for financially burdened?

Also called economic burden, economic hardship, financial distress, financial hardship, financial stress, and financial toxicity.

What is a word for financially greedy?

Some common synonyms of greedy are acquisitive, avaricious, covetous, and grasping. While all these words mean "having or showing a strong desire for especially material possessions," greedy stresses lack of restraint and often of discrimination in desire. When is it sensible to use acquisitive instead of greedy?

Is a liability a financial obligation?

Liabilities represent financial obligations of an entity to transfer assets or provide services to other entities in the future as a result of past transactions or events.

Are financial assets also liabilities?

An asset is anything you own that adds financial value, as opposed to a liability, which is money you owe. Examples of personal assets include: Your home. Other property, such as a rental house or commercial property.

Are creditors financial liabilities?

On the company's balance sheet, the company's debtors are recorded as assets while the company's creditors are recorded as liabilities. Note that every business entity can be both debtor and creditor at the same time.

What are the two types of liabilities in accounting?

Liabilities can be divided into two categories according to their term or maturity: current and non-current, or short-term and long-term. Liabilities are recorded on the right-hand side of the balance sheet. They are compared to assets, which represent the assets of the company.

What is a financial liability and financial equity?

One is a financial liability, namely the issuer's contractual obligation to pay cash, and the other is an equity instrument, namely the holder's option to convert into common shares. Another example is debt issued with detachable share purchase warrants.

Which liability would be considered long-term?

Long-term liabilities are typically due more than a year in the future. Examples of long-term liabilities include mortgage loans, bonds payable, and other long-term leases or loans, except the portion due in the current year.

How do you calculate financial liabilities?

How to Calculate Current Liabilities. To calculate current liabilities, you need to add together all the money you owe lenders within the next year (within 12 months or less). Current liabilities include current payments on long-term loans (like mortgages) and client deposits.