Definition of Short Term Debt
The short term debt or short term borrowing is a liability that is repayable within less than a year. The short term debt is also called current liabilities and they normally appear under the head of current liabilities. This can include sundry creditors or trade payables, short-term advances from banks, current portion of lease liability, accrued salaries and wages, accrued interest, and tax payments
.The trade creditors are the payments that are due within one year. The lease liabilities instalments that are expected to be paid within a twelve months period, typically represent the principal and interest repayments.