Step 2: Classify Liabilities Liabilities fall into two categories: current and non-current liabilities. 1. Current Liabilities: This consist of liability, which are due for settlement within one calendar year. Examples include: i.) Accounts Payable: This refers to the sum which is owed to suppliers for acquiring goods or services. ii.) Short-term loans: This refers to the amount l... https://finxl.in/make-financial-budget-from-scratch-certification-online-training-courses.html