financial liabilities
What you owe
Financial liabilities are debts or obligations a person or organization owes to others—loans, mortgages, unpaid bills, bonds issued.
In accounting, liabilities appear on the balance sheet opposite assets: The company's financial liabilities exceeded its cash reserves.
The term distinguishes monetary obligations from other kinds of liability, such as legal responsibility.
- guaranteesPromises ensuring specific outcomes
- warranty claimsDemands for promised coverage
- loan agreementsFormal borrowing arrangements
- accounts payableOutstanding debts to suppliers
- short-term loansTemporary borrowed money
bank loans · tax arrears · credit card debt · indemnities · promissory notes · rental agreements · insurance claims · government levies · service contracts · legal settlements · utility bills · employment contracts · purchase orders · product recalls · partnership agreements · licensing agreements
financial liabilitiesassets
Owned items of value
financial assets · current assets · fixed assets · total assets · tangible assets
financial liabilitiesnet worth
Assets less debts
net assets · wealth · solvency · surplus · reserves
financial liabilitiesequity
Impartial treatment or ownership value
capital · retained earnings · net assets · ownership interest · proprietorship
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