In accounting, current liabilities are often understood as all liabilities of the business that are to be settled in cash within the fiscal year or the operating cycle of a given firm, whichever period is longer. example 

• Accounts payable.
• Salaries payable.
• Short-term debt payable.
• Short-term notes payable.
• Current lease liability

From the table above, current liabilities = creditors + accruals expenses. Hence we have;

7,940+323= 8,263