Some companies will list the current liabilities in this order: 1) short-term notes or loans payable, 2) current portions of long-term debt, 3) accounts payable, 4) payroll related liabilities, 5) other accrued expenses, and 6) income taxes payable. Other companies will list its accounts payable ahead of its short-term debt.
After the current liabilities are listed, the long-term or noncurrent liabilities will be listed. This might include long-term debt, bonds payable, and deferred income taxes.
In short, I would arrange the chart of accounts in the order that the accounts will appear on the balance sheet and income statement.
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