A loan that has no fixed or floating charge (unsecured loan) is a current liability or a non current liability and why?
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Unsecured loans are usually a non current liability unless they mature within the following twelve months. One might argue that if the debt is repayable on demand, you should also recognize it as a current liability. To keep it simpler, its a current liability if it will be repaid within twelve months and a non current liability if you are going to repay it after twelve months.