Other Payables
Code: 2150
👁 Views: 58
Account Information
| Financial Statement | Statement of Financial Position |
| Normal Balance | Credit |
Definition
Various payables not classified under main supplier accounts
Sub-accounts
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IAS 1
Presentation of Financial Statements
US GAAP
ASC 405
Liabilities
❓ Frequently Asked Questions
Q: What are other payables?
A: Liabilities not classified under main supplier accounts, such as security deposits received, deferred revenue, and other creditors.
Q: What is the difference between other payables and accounts payable?
A: Accounts payable is specific to trade suppliers, while other payables include various other obligations.