what are other current liabilities 
other current liabilities in financial accounting are categories of short term debt that are lumped together on the liabilities side of the balance sheet the term current liabilities refers to items of short term debt that a firm must pay within 12 months to that companies add the word other to describe those current liabilities that are not significant enough to identify separately on their own lines in financial statements so they are grouped together as other current liabilities other current liabilities may be contrasted with other current assets found on the assets side of the balance sheet understanding other current liabilitiesbefore you can understand the concept of other current liabilities you must know what the term current liabilities means other current liabilities are simply current liabilities that are not important enough to occupy their own lines on the balance sheet so they are grouped together the current liabilities section of the balance sheet lists the debt obligations that a company must pay within 12 months as opposed to long term liabilities which a company may pay down over time in addition to the popular accounts payable item examples of current liabilities consist of things like short term loans from banks including a line of credit notes payable dividends and interest payable bond maturity proceeds payable consumer deposits reserves for taxes and accrued benefits and payroll depending on the company and its industry you will see many kinds of items listed under other current liabilities usually you can find explanations of these other liabilities somewhere in the company s annual report or form 10 k they also may be detailed in the footnotes to the financial statements often you can discern the meaning of the other current liability entry by its name for example if a business lists commercial paper or bonds payable as a current liability you can be fairly confident that the amount listed is what will be paid to the company s bondholders in the short term the same is true for accrued benefits and payroll these categories are monies owed to employees as bonuses and salaries which the company has not yet paid but needs to pay within the year 