Financial statements Balance sheet
This query is : Resolved
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05 March 2024
"Creditors for expenses" will appear under which head and sub head of balance sheet?
Will it be under sub head of "trade payable" or sub head of "Other current liabilities"
Will it be under sub head of "trade payable" or sub head of "Other current liabilities"
05 March 2024
Show it in trade payable
05 March 2024
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05 March 2024
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16 August 2025
Please note that accrued liabilities (e.g., for utilities, salaries, or professional fees where invoices are pending) must not be shown under Trade Payables. Instead, book them under Other Current Liabilities – Accrued Expenses to ensure proper classification and completeness of the balance sheet.
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