but are due for settlement within twelve (12) months of the balance sheet date. Examples are the current portion of long-term liabilities due to be settled within one year, bank overdrafts, dividends payable, income taxes and other non-trade payables. Long term liabilities that provide the financing for working capital on a long-term basis and are not due for settlement within twelve (12) months are non-current liabilities. (refer to chapter 11 – Short Term Loan and Long Term Loan)
All other liabilities should be classified as non-current liability