Take this page:
Under liabilities you have current and non-current liabilities. What is the difference?
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This could have been included in your other question. – quid Jun 03 '16 at 17:30
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1I got half way through doing it and thought people would have said it was two questions in one. – Andrew Welch Jun 03 '16 at 19:19
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fair enough. I suppose it could go either way! :) – quid Jun 03 '16 at 19:31
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Current typically refers to a time line shorter than 12 months. At least that's what it means in the US, I'd imagine the same applies in the UK.
A current asset is something like cash, or a very short term security; a 9 month CD for example. A current liability can be something like a payable to a vendor.
There is also a situation where you have the current portion of a long-term liability. That could be the amount of a long term loan that's due in the next 12 months.
quid
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