External source

A company's external source is the monetary value of its obligations arising from various contracts - be it the consideration of a loan taken out or raw materials that have already been received but not yet paid.

Liabilities are on one side of a company's balance sheet, one of their main components is equity, and the other is receivables, i.e. external liabilities. Among the receivables, we display all currently existing debts that can be derived from some past event and involve payment later.  

The foreign resource can be of many kinds, we include the company's loans here, but also the wages or the not yet paid consideration for the raw materials received. In fact, the sums to be paid to the owners are also displayed here when the company decides on the division of the profit or loss, P&L and, within that, the dividend. If the company takes an advance for something, it must also be recorded as a liability. 

The liabilities are basically separated based on the time of availability, so we can talk about short -term and long -term liabilities. Among the former are those where the payment liabilities is due within 12 months, everything else is classified under long -term obligations. It is clear that all long -term liabilities become short -term over time.