Current liabilities are usually presented in the following order:
- the principal portion of notes payable that will become due within one year
- accounts payable
- the remaining current liabilities such as payroll taxes payable, income taxes payable, interest payable and other accrued expenses
The amount of current liabilities is used to determine a company's working capital (current assets minus current liabilities) and the company's current ratio (current assets divided by current liabilities).