This Asset is Current, and should be classified as such on the balance sheet.\n\n[[Ok, I guess. What about this one?|Start]]

Is there a binding agreement to refinance that was signed before the Financial Statements have been released?\n\n[[Yes.|Non-current]]\n[[No.|Current]]

Has the company concretely demonstrated the ability to refinance?\n\n[[No.|Current]]\n[[Yes.|Region]]\n

Is there an intent to refinance the liability to a longterm form?\n\n[[No|Current]]\n[[Yes.|Ability]]

Is the liability callable (able to be demanded by the creditor) within 12 months after the Balance Sheet date? Keep in mind that whether or not they are LIKELY to call is irrelevant.\n\n[[Yes.|Refinance]]\n[[No.|Non-current]]

This is a breif tutorial on how to classify a liability.\n\nIs the Liability due within 12 months of the balance sheet date?\n\n[[Yes|Refinance]]\n[[No|callable]]\n[[Don't Know?|Contingency]]

Congratulations! This liability can be classified as longterm!\n\n[[But what about my other liabilities?|Start]]

Choosing how to classify a liability.

Do you have a binding aggreement to refinance the liability that was signed before the Balance Sheet date?\n\n[[Yes.|Non-current]]\n[[No.|Current]]

Geofry Lawton

If you don't know what the maturity date, or you don't know the amount that is due, this may be a contingency. That's another tutorial.\n\n[[Ok, but what about my other liabilities?|Start]]\n

The next step depends on what financial standards you are following.\n\n[[GAAP- Generally Accepted Accounting Principles|GAAP]]\n[[IFRS- International Financial Reporting Standards|IFRS]]