Current Assets vs Total Liabilities
Current assets of Facebook Inc include cash, cash equivalents, short-term investments, accounts receivable, stock inventory and the portion of prepaid liabilities which will be paid within a year. Depending on the nature of the business, current assets can range from barrels of crude oil, to baked goods, to foreign currency. Current assets are important because they are the assets that are used to fund day-to-day operations of Facebook. The current portion of Total Assets
, reported if a company operates a classified balance sheet that segments current and non-current assets.
Deferred Income Tax is recorded on Facebook Inc balance sheet and a result of income already earned and recognized for accounting, but not tax, purposes. Also, differences between tax laws and accounting methods can result in a temporary difference in the amount of income tax payable by a company. This difference is recorded on Facebook books as deferred income tax. Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Principal components are Total Debt
, Deferred Revenue
, Trade and Non Trade Payables
,Deposit Liabilities, and tax liabilities.