This illustrated glossary uses Visual Finance™ to provide a contextualized 'big picture' view of financial results. The examples feature data for the Round Number Company—a 'made-up company' with simplified figures. The Appendix presents an explanation of how to read Visual Finance as well as the financial statements and VF views for the Round Number Company.
Long-term Debt is the portion of Long-Term Liabilities that is related to borrowing money (i.e. bank Loans) - it is interesting bearing, and it is initially taken for a period greater than 1 year.
However, the Current Portion of Long-term Debt (i.e. that portion falling due within 12 months of the Balance Sheet date) is reclassified as Short-term Debt because repayment is an immediate concern.
The above is our generic explanations of common corporate financial terminology. Actual meanings can vary widely from company to company; in order to have the correct internal definition you need to ask your Finance Department, "What do you mean by that?"
term list.