There are tens [if not hundreds] of items [transactions] to be classified as “current liabilities”. The bigger business most likely have more of these items. Therefore, confusion on classifying items [whether they are under current liabilities... 

The treatment of accounts payable is somewhat more complicated than the treatment of its counterpart on the balance sheet, accounts receivable [discussed on the previous post you may want to read it too: read]. This is because the underlying transaction... 

Financial reports don’t show lines of connection between the Profit and Loss [P&L] and Balance Sheet. Each financial statement is on a separate page in most financial reports, so drawing lines of connection would be awkward. Because you see no visible...