What are Accounts Payable?
Accounts Payable represent the amounts due to suppliers of goods and/or services used in a company’s operations. They are generally not interest-bearing. They mainly remain unpaid at the prior fiscal period-end and are expected to be paid within the current period.
What do Accounts Payable include?
- Due to contractors;
- Book overdrafts;
- Acceptance credits;
- Group-related notes or bills of exchange; and
- Trade payables, accrued expenses and other payables (when combined and non-separable).