Liabilities means obligations entity arising from transactions, borrowings or from others which will be repaid in the future to a third party the right to claim a third party is the entity with the assets or liabilities can be divided into 3 types.
1. Current Liabilities (Current liabilities), which refers to the period of debt repayment within one year or within the normal operating cycle of the business, with current assets. Or by other short-term debt instead.
2. Long-term debt (Long - term liabilities), which means the debt is repaid over a period of one year or beyond the normal operating cycle of the business. Long-term debts is divided into several categories such as loans, debentures, bonds, loans, etc.
3. Other liabilities (Other liabilities) refers to liability which can not be classified as current liabilities and long term liabilities such as pension funds or loan officer employees of the Company or its subsidiaries, deferred income and so on.