6 billion and how can a firm survive, let alone thrive, with such an excess of current liabilities
over current assets?
According to conventional thinking, it would be defined as current assets ($200 cash) minus current liabilities
($4,000 CPLTD) or a negative $3,800.
Liabilities and stockholders' equity Current liabilities
Notes payable 267,000 Withholding payable 2,000 Other liabilities Other liabilities 3,000 Accounts payable-specialty groups 740,000 Hospital risk pool assessment 100,000 Total current liabilities
include $120,124 in deferred salary owed to current management which has deferred significant portions of their salary since the management transition in June of 2004.
The new standard would begin by combining parts of IAS 1, Disclosure of Accounting Policies, IAS 5, Information to Be Disclosed in Financial Statements, IAS 13, Presentation of Current Assets and Current Liabilities
, other existing standards and the IASC Frame-work for the Preparation and Presentation of Financial Statements.
6 permits a short term obligation to be excluded from current liabilities
if the company has the ability and intent to refinance the debt on a long-term basis.
71 LIABILITIES & EQUITY Liabilities Current Liabilities
Accounts Payable 761,640.
This amount was included in current liabilities
under the caption "Accrued Payroll" on the Company's audited balance sheet at December 31, 2005.
As a result of the issuance of a registration rights agreement that included a liquidated damages clause, which linked to an effective registration of such securities, the value of these warrants is now reflected as a financial instrument in the current liabilities
section of the restated Condensed Consolidated Balance Sheet.