2. From an economic point of view: the funds that must be returned. In addition to the borrowed funds, if bonds are issued, the principal and interest (principal+interest) must be returned, which is also called debt. Failure to repay debts is called non-performance of debts. In addition, the rise of debt-owned capital is called debt exceeding.
Extended data:
Calculation of total liabilities:
Total liabilities = total assets/asset-liability ratio × 100%
1. Total liabilities: refers to the sum of various liabilities undertaken by the company, including current liabilities and long-term liabilities.
2. Asset-liability ratio: refers to the sum of all assets owned by the company, including current assets and long-term assets.
Total debt is an important symbol to measure the debt level and risk degree of an enterprise. It contains the following meanings:
(1) Total liabilities can reveal how much of the total capital source of an enterprise is provided by creditors.
② From the creditor's point of view, the lower the asset-liability ratio, the better.
③ For investors or shareholders, higher debt ratio may bring some benefits. (financial leverage, pre-tax deduction of interest, gaining control of the enterprise with less capital (or equity) investment).
(4) From the operator's point of view, what they are most concerned about is to make full use of the borrowed funds to bring benefits to the enterprise and reduce financial risks as much as possible.
⑤ The debt ratio of enterprises should be as high as possible, and there will be no debt repayment crisis.
It can be seen that in enterprise management, the level of asset-liability ratio is not static, it depends on the different angles of creditors, investors (or shareholders) and operators.
It also depends on whether the international and domestic economic environment is at the peak of decline or at the bottom of recovery; Depending on whether the management is radical, moderate or conservative, there is no uniform standard for many years, but for enterprises, it is generally believed that the appropriate level of asset-liability ratio is 40% ~ 60%.
The lower the ratio, the better. Because the owners (shareholders) of the company generally only bear limited liability, once the company goes bankrupt and liquidates, the realized income of the assets is likely to be lower than its book value. So if this index is too high, creditors may suffer losses. When the asset-liability ratio is greater than 100%, it means that the company is insolvent, which is very risky for creditors.
The asset-liability ratio reflects the proportion of funds provided by creditors to all funds, and the degree of protection of enterprise assets to creditors' rights. The lower the ratio (below 50%), the stronger the solvency of the enterprise.
Usually, the selling price of assets at bankruptcy auction is lower than 50% of the book value, so if the asset-liability ratio is higher than 50%, the interests of creditors will not be guaranteed. There are significant differences in the liquidity of various assets. The loss of real estate realization value is small, and it is difficult to realize special equipment. The asset-liability ratio of different enterprises is different, which is related to the types of assets they hold.
In fact, the analysis of this ratio depends on whose position you stand on. From the creditor's point of view, the lower the debt ratio, the better, the enterprise's debt repayment is guaranteed, and the loan will not be too risky; From the standpoint of shareholders, when the total capital profit rate is higher than the loan interest rate, the greater the debt ratio, the better, because the profits obtained by shareholders will increase.
From the perspective of financial management, enterprises should assess the situation and make comprehensive consideration when making decisions on borrowing funds, fully estimate the expected profits and increased risks, weigh the gains and losses, and make correct analysis and decisions.
Baidu encyclopedia-total liabilities