How to Account The Accounts for Current Liabilities Based on IFRS Standard?

Abstract

Using liability for develop the company business. There is current liability and also known as short-term liability, the one of types liability. Current liabilities are reported on the classified balance sheet, and the non-current liabilities listed before. The common current liabilities include  accounts payable or trade payable, notes payable, unearned revenue, taxes payable, salaries and wages, and current maturities of long term debt. This paper describe how to account for each of current liabilities. Descriptive method was adopted in this paper, through of previous literature liabilities and current liabilities. The conducted research shows that there is common current liabilities include accounts payable or trade payable, notes payable, unearned revenue, taxes payable, salaries and wages, and current maturities of long term debt. And to accounting the current liabilities there is formula and make the journal entry.