What Are Other payables PDF

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This is a lecture about accounts payable....

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What Are Other payables? (Explained) Account Payable Other payables generally come with headings “trade payables and others” in the financial statement of large listed public companies. Other payables are a type of categorization of liabilities.

These are residual trade or non-trade payables that have not been specified by the company or regulations or do not meet the criteria of being classified separately. They are referred to as uncommon and insignificant, like the major accounts of current liabilities as trade payables, accounts payable, income taxes payable. Other payables are listed under the liabilities side of the firm’s balance sheet.

These come below the headings of trade payables. Other payables are characterized as uncommon or insignificant. Other payables are rarely recorded in the financial statements. Hence, the net balance in the Other payables accounts is typically small.

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