ANALYSIS OF SHORT-TERM LIABILITIES AND THEIR IMPACT ON THE LIQUIDITY OF THE ENTERPRISE

Short-term liabilities — encompassing trade payables, short-term borrowings, accrued expenses, and tax obligations — are active determinants of enterprise liquidity rather than passive balance sheet entries. This article analyses their nature and composition under IFRS, examines their impact through key liquidity metrics including the current ratio, quick ratio, and cash conversion cycle (CCC), and draws strategic implications for working capital management. The analysis concludes that optimal liquidity governance demands a dynamic, forward-looking approach integrating cash flow forecasting, deliberate payables strategy, and contingency financing as core managerial competencies.