Non-current liabilities, also known as Long-term liabilities are liabilities that extend beyond one year or one operating cycle whichever is longer. Includes the following:Long-term debt: This includes bonds payable, notes payable and other types of debt instruments that have maturities longer than one year. Capital leases: These are long-term lease contracts that obligate the firm to make regular lease payments in exchange for use of an asset. For example, a firm may lease assets like real estate, vehicles, and equipment under finance leases or operating leases.Deferred tax liabilities: These are taxes that have been accrued but will not be paid for another year. They can arise due to different accounting methods used for financial reporting and the company's tax returns.Pension liabilities or post-employment benefits: These are obligations of a company to pay pension benefits or other post-employment benefits to its employees.
Learn Non-current Liabilities with interactive examples and practice exercises in our Balance Sheet module.
This interactive learning module helps you understand Non-current Liabilities through hands-on practice and real-world examples.