Current liabilities are financial obligations that a company needs to settle within one year. These can include items such as accounts payable, short-term loans, and accrued expenses. Managing current liabilities is crucial for maintaining a company's liquidity and ensuring it can meet its short-term financial commitments. Examples of current liabilities are creditor payments due soon, wages payable to employees, and taxes owed to the government. Companies track these liabilities closely to avoid cash flow problems and to ensure they have enough resources to cover their immediate expenses.