Accounts Payable
Code: 2110
👁 Views: 38
Account Information
| Account Type | Statement of Financial Position |
| Normal Balance | Credit |
Definition
Amounts payable to suppliers
Sub-accounts
International Accounting Standards
IFRS
IFRS 9
Financial Instruments
Financial liabilities at amortised cost. Short-term payables may use invoice amount as approximation.
US GAAP
ASC 405
Liabilities
Measured at settlement amount. Supply chain financing disclosures required if material.