Block, SkipCaptcha, Upload, Automoderated users, Check users, delete, edit, Moderators, move, oversight, protect, rollback
19,323
edits
Changes
Jump to navigation
Jump to search
Line 2:
Line 2: − + +
→On Financial Statements: not notes payable
==On Financial Statements==
==On Financial Statements==
Because they represent debt that an individual or business organization owes to another such entity, accounts payable are virtually always listed in the liabilities section on a [[balance sheet]]. As such, they subtract from the net value of a financial entity because they represent a debt. This is opposed to [[accounts receivable]], which increase the net value of an individual or company because they represent an asset.
Because they represent debt that an individual or business organization owes to another such entity, accounts payable are virtually always listed in the liabilities section on a [[balance sheet]]. As such, they subtract from the net value of a financial entity because they represent a debt. This is opposed to [[accounts receivable]], which increase the net value of an individual or company because they represent an asset.<br />
Accounts payable are short-term liabilities. They are not to be confused with ''notes payable'', which are long-term debts.
==Examples==
==Examples==