How are the debt that a company has reported on the statement of financial position? I am getting a bit confused with assets, liabilities, current and non current.
I assume that you mean a liability! If a company has borrowed money from a person, then the company has a liability. The person that provided the funding though has an asset.
No debts are debts! So they are current or non current liabilities but they are definitely not assets unless if you mean that debt that is owed to the company and not owned by the company!
