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Obligations due within one year or the operating cycle, whichever is longer. Examples include accounts payable, short-term loans, and accrued expenses.

Obligations due after one year or the operating cycle, whichever is longer. Examples include mortgages, long-term loans, and bonds payable.

Potential liability that may occur, depending on the outcome of a future event. Examples include lawsuit settlements and product warranties.

Money owed by a company to its creditors for goods or services that have been delivered but not yet paid for. Examples include supplier debts and invoices.

Expenses that have been incurred but not yet paid. Examples include wages payable, interest payable, and taxes payable.

Money received by a company for goods or services yet to be delivered. Examples include unearned service fees and customer deposits for future services.

Obligations to pay taxes to government authorities. Examples include income tax payable, sales tax payable, and payroll taxes.

Debts not backed by collateral. Examples include unsecured bank loans and unsecured supplier credit.

Debts backed by assets as collateral. Examples include secured bonds and mortgages with property as collateral.

Obligations owed to employees for benefits. Examples include pensions payable and post-retirement healthcare obligations.

Long-term debt issued by a company to raise capital with a promise to pay interest and repay the principal at a future date. Examples include corporate bonds and municipal bonds.

Long-term lease agreements that transfer ownership of the asset to the lessee at the end of the lease term. Examples include lease-to-own agreements for equipment and vehicles.

Lease agreements where the lessee has the right to use an asset without ownership. Examples include commercial real estate leases and equipment rentals.

A flexible loan from a bank that allows a company to borrow up to a certain limit. Examples include business credit lines and revolving credit facilities.