current liability in its balance sheet vs current liability on its balance sheet

Both phrases are correct, but they are used in slightly different contexts. 'Current liability in its balance sheet' is more commonly used to refer to the specific amount of current liabilities listed in a company's balance sheet. On the other hand, 'current liability on its balance sheet' can be used to describe the general concept of current liabilities being included in a balance sheet.

Last updated: March 27, 2024 • 547 views

This phrase is correct and commonly used in the context of financial statements.

"current liability in its balance sheet"

This phrase is used to refer to the specific amount of current liabilities that are listed in a company's balance sheet.

Show examples from the web [+]

Bank overdrafts are shown within financial liabilities under current liabilities on the balance sheet.
Indeed, it is clearly in BNFL's interest to have smaller liabilities in its balance sheet.
Total assets of the reporting institution registered in its balance sheet.
This reduction in its balance-sheet commitments enabled France Télécom to boost its solvency and borrowing capacity.
This confusion frequently arises because in the textbook finance literature, some authors assume a simplified balance sheet, with only equity and financial debt, and no current liabilities.
They are classified as non-current liabilities, except for maturities less than 12 months after the balance sheet date.
Such operating items are classified as current liabilities even if they are due to be settled more than twelve months after the balance sheet date.
When an entity presents current and non-current assets, and current and non-current liabilities, as separate classifications on the face of its balance sheet, it shall not classify deferred tax assets (liabilities) as current assets (liabilities).
The Régie des Postes was already the legal owner of the assets that had been included in its balance sheet.
This breakdown dates from before the bank committed to additional reductions in its balance sheet which would bring its balance sheet total to around EUR 240 billion in 2015.
Given that the solidarity scheme involves all members of the Eurosystem, the ECB acts as one of the legal issuers and therefore shows these banknotes in its balance sheet.
The two most important things in any company do not appear in its balance sheet: its reputation and its people.
EEL GmbH does not have any material assets in its balance sheet other than its claims vis-à-vis FN GmbH.
A CCP shall keep, and indicate separately in its balance sheet, an amount of dedicated own resources for the purpose set out in Article 45(4) of Regulation (EU) No 648/2012.
If for the presentation of liabilities on the face of the balance sheet a distinction is made between current and non-current liabilities, the same distinction is made for lease liabilities.
However, in the liabilities side of a typical balance sheet, you find not only equity and financial debt but also current liabilities, i.e. payables to suppliers.
Other current liabilities are not settled as part of the normal operating cycle, but are due for settlement within twelve months after the balance sheet date or held primarily for the purpose of being traded.
The balance sheet represents assets and liabilities in decreasing order of liquidity and does not distinguish between current and non-current items.
The Balance Sheet represents assets and liabilities in decreasing order of liquidity and does not distinguish between current and non-current items.
Each NCB will show in its balance sheet a share of the euro banknotes issued corresponding to its paid-up share in the ECB's capital.

Alternatives:

current liabilities in the balance sheet
current liabilities listed in the balance sheet

This phrase is also correct but is used in a slightly different context.

"current liability on its balance sheet"

This phrase can be used to describe the general concept of current liabilities being included in a balance sheet.

Show examples from the web [+]

Bank overdrafts are shown within financial liabilities under current liabilities on the balance sheet.
The reserve base of an institution is defined in relation to the short-term liabilities on its balance sheet.
The wind-down of the liabilities on HBI's balance sheet will follow the wind-down of the assets on its balance sheet and will be determined by the latter.
If for the presentation of liabilities on the face of the balance sheet a distinction is made between current and non-current liabilities, the same distinction is made for lease liabilities.
An entity shall recognise a financial asset or a financial liability on its balance sheet when, and only when, the entity becomes a party to the contractual provisions of the instrument.
This confusion frequently arises because in the textbook finance literature, some authors assume a simplified balance sheet, with only equity and financial debt, and no current liabilities.
They are classified as non-current liabilities, except for maturities less than 12 months after the balance sheet date.
Such operating items are classified as current liabilities even if they are due to be settled more than twelve months after the balance sheet date.
DMA's commitment policy is intended to limit the risk represented by the loans on its balance sheet.
Accordingly, in all cases, the entity presents the liability and equity components separately on its balance sheet.
As mentioned in recital 29, RMG has shown at the end of the 2010/2011 financial year negative operating assets on its balance sheet.
When an entity presents current and non-current assets, and current and non-current liabilities, as separate classifications on the face of its balance sheet, it shall not classify deferred tax assets (liabilities) as current assets (liabilities).
All changes, other than fair value adjustments, required to restate the opening balance sheet where made through the accumulated surplus/deficit account, thus the large impact on its balance.
In a synthetic securitisation, the Financial Intermediary retains the relevant assets on its balance sheet and the EIF covers part of the risk on the Securitised Portfolio.
However, in the liabilities side of a typical balance sheet, you find not only equity and financial debt but also current liabilities, i.e. payables to suppliers.
Other current liabilities are not settled as part of the normal operating cycle, but are due for settlement within twelve months after the balance sheet date or held primarily for the purpose of being traded.
As there is some uncertainty and delay in the transfer of assets, for reasons of prudence the EC has not recognised the assets of the programme on its balance sheet.
(35) All expenditure incurred by a firm in rehabilitating its site, whether or not such expenditure can be shown as a fixed asset on its balance sheet, ranks as eligible investment in the case of the rehabilitation of polluted sites.
An institution will usually have both net derivatives liabilities (i.e. payables) and net derivative assets (i.e. receivables) on its balance sheet.
In the case of Royal Mail, the measure makes no difference to the amount of the pensions deficit for which the company is required to account on its balance sheet under international accounting rules.

Alternatives:

current liabilities on the balance sheet
current liabilities included in the balance sheet

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current liability in its balance sheet vs current liability on its balance sheet