noncurrent liability

Noncurrent liability

A liability due in one year.

Noncurrent Liability

Any liability with a term of greater than a year. In both investing and personal finance, an example of a noncurrent liability often is a loan with a payback period of longer than one year. Examples include a 30-year mortgage or a 10-year Treasury note. See also: Long-term financing.

noncurrent liability

A liability not due to be paid within one year during the normal course of business. A long-term debt issue is a noncurrent liability.
References in periodicals archive ?
* [DELTA][DLP.sub.it] = noncurrent liability of the firm i in time t + 1 less noncurrent liability of the firm i in time t.
A business entity that presents a classified statement of financial position shall classify the liability for an underfunded plan as a current liability, a noncurrent liability, or a combination of both.
The $13,600 tax liability attributable to the partnership loss is reported as a noncurrent liability. Since there is no book-tax difference, the credit cannot be applied to the deferred tax liability account so it is applied to a noncurrent taxes payable account for an uncertain tax position.
In the retail field, as indicated, there was a lack of agreement whether the deferred tax credit should be shown as a current or noncurrent liability when the installment sales receivable was shown as a current asset.
Ten percent--or $15,000 plus interest--is listed as a current liability on each year's balance sheet, leaving the remainder as a future or noncurrent liability. Some current liabilities include payroll taxes, accrued expenses, deferred income and accounts payable.
* A current or noncurrent liability, based on the timing of the related cash flows;
A business entity that presents a classified statement of financial position must classify the liability for an underfunded plan as a current liability, a noncurrent liability, or a combination of both.