Long-term liabilities

(redirected from Non-current liability)
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Long-term liabilities

Amount owed for leases, bond repayment, and other items due after 1 year.

Long-Term Liability

Any liability with a term of greater than a year. In both investing and personal finance, a long-term liability often is a loan with a long payback period. Examples include a 30-year mortgage or a 10-year Treasury note. See also: Long-term financing.
References in periodicals archive ?
The amount of capital due for settlement over the next 12 months is classified as a current liability and the balance as a non-current liability.
If the payments are made in arrears, then the current liability is the next period's lease instalment, less the amount of interest cost in that instalment, and the non-current liability is the interest cost, plus the remaining amount of the liability.
So at the end of the first year there will be a finance charge in the income statement of $4,361 and a non-current liability in the statement of financial position of $50,861.

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