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Finance: What's the Difference Between Short-term and Long-term Liabilities? 35 Views

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What is the difference between short-term and long-term liabilities? Short-term liabilities show up on the balance sheet. They need to be paid in the short-term using the inflow from cash and accounts receivable, as shown on the balance sheet. These are things like accounts payable and employee salaries. Long-term liabilities are things like loans and such that the company won’t need to pay back for over a year.

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Transcript

00:00
sure we've all heard of mystery stories, but what really makes a mystery
00:06
a mystery? okay yeah if you're reading something called the big book of [boy picks book off shelf]
00:10
mysteries, that's a pretty good hint. but we're looking for something a bit more
00:14
general than that. like most stories a mystery will contain stuff like
00:18
characters a setting and a plot, but there are a whole bunch of other

00:22
ingredients that give mysteries that are distinctive and dare we say mysterious, [chef mixes ingredients]
00:27
taste. and no none of those ingredients are the mystery machines. well the first
00:33
one is a central problem aka a mystery to be solved like a crime. it's pretty
00:38
tough to solve a mystery if there's you know no mystery to solve. well you could
00:43
have a story where a detective goes to the beach with his friends and has a [2 men toss beach ball]
00:46
great time but with no problem well you've got no mystery. and sure the
00:51
detective might appreciate the day off but mystery stories aren't about
00:54
creating fond memories for fictional detectives. well the second element is a
00:58
list of suspects. if there's a crime to be solved then somebody must have [lineup shown]
01:01
committed that crime. and if there's only one suspect it's gonna be a pretty short
01:06
story, and not much of a mystery. so if you're bad at solving mysteries, well it
01:10
might be right up your alley. well the third element is a set of clues.
01:14
in a good mystery both the characters and the reader use clues to figure out [detective examines house]
01:17
who committed the central crime, and know the answer is rarely Miss Scarlet with
01:22
the candlestick in the billiard parlor. the fourth element is a bunch of red
01:26
herrings. and no red herring isn't an alternate name for swedish fish. [red candy fish]
01:30
we like that. in mysteries red herrings are false clues. things that suggest the
01:35
guilt of a suspect who's really innocent. even though readers like to try and
01:39
solve mysteries they don't want the solution to be too easy. it's like the
01:43
difference between playing chess with your grandpa and playing chess with a
01:46
toddler. yeah the win against the toddler well [man plays with old man, and young child]
01:49
it's gonna be way more satisfying than the win against your grandpa. what? she's
01:53
a prodigy. grandpa's just senile and last but not least a mystery story must
01:59
contain a dénouement. well this is the resolution which comes at the end of the
02:02
story. it reveals the suspect who committed the central crime and it [detective points out perp from lineup]
02:06
solves the mystery. and if you ever had a hard time coming up with a decent ending
02:09
to your mystery keep this in mind. Edgar Allan Poe once ended a story by
02:14
basically saying the orangutan did it .so when in doubt you know blame the [student grimaces]
02:19
orangutan.
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