current
Physiology
The flow of electrical charge from one point to another.
Physics
The time rate of flow of electric charge.
Accounting
A length of time less than one year (12 months) into the future.
Examples of current in the following topics:

Current Ratio
 It compares a firm's current assets to its current liabilities.
 The current ratio is calculated by taking total current assets and dividing by total current liabilities.
 If current liabilities exceed current assets (the current ratio is below 1), then the company may have problems meeting its shortterm obligations (current liabilities).
 A high current ratio can be a sign of problems in managing working capital (what is leftover of current assets after deducting current liabilities).
 While a low current ratio may indicate a problem in meeting current obligations, it is not indicative of a serious problem.

Current Ratio
 It compares a firm's current assets to its current liabilities.
 Current asset is an asset on the balance sheet that can either be converted to cash or used to pay current liabilities within 12 months.
 If current liabilities exceed current assets (the current ratio is below 1), then the company may have problems meeting its shortterm obligations.
 If the current ratio is too high, then the company may not be efficiently using its current assets or its shortterm financing facilities.
 Low values for the current or quick ratios (values less than 1) indicate that a firm may have difficulty meeting current obligations.

Reporting Current Liabilities
 Current liabilities are typically due and paid for during the current accounting period or within a one year period.
 They are paid off with assets or other current liabilities .
 In addition to current liabilities, longterm liabilities are listed in a separate section after current debt.
 However, for all longterm liabilities, any amounts due in the current fiscal year are reported under the current liability section.
 Most current liabilities have a claim on cash or other assets.

Current and Voltage Measurements in Circuits
 An electrical circuit is a type of network that has a closed loop, which provides a return path for the current.
 Resistance is inversely proportional to current.
 More specifically, Ohm's law states that R in this relation is constant, independent of the current.
 Using this equation, we can calculate the current, voltage, or resistance in a given circuit.
 Describe the relationship between the electrical current, voltage, and resistance in a circuit

Defining Current Liabilities
 Current liabilities are usually settled with cash or other assets within a fiscal year or operating cycle, whichever period is longer.
 A current liability can be defined in one of two ways: (1) all liabilities of the business that are to be settled in cash within a firm's fiscal year or operating cycle, whichever period is longer or (2) all liabilities of the business that are to be settled by current assets or by the creation of new current liabilities.
 Another important point is that current liabilities are many times not "current" and are actually past due.
 A current liability, such as a credit purchase, can be documented with an invoice.
 Current liabilities are debt owed and payable no later than the current accounting period.

Energy Stored in a Magnetic Field
 This changing magnetic flux produces an EMF which then drives a current.
 When a conductor carries a current, a magnetic field surrounding the conductor is produced.
 The resulting magnetic flux is proportional to the current.
 If the current changes, the change in magnetic flux is proportional to the timerate of change in current by a factor called inductance (L).
 Thus, inductors oppose change in current by producing a voltage that,in turn, creates a current to oppose the change in magnetic flux; the voltage is proportional to the change in current.

Liquidity Ratios
 One such ratio is known as the current ratio, which is equal to:
 Acceptable current ratios vary from industry to industry.
 If current liabilities exceed current assets (i.e., the current ratio is below 1), then the company may have problems meeting its shortterm obligations.
 If the current ratio is too high, the company may be inefficiently using its current assets or its shortterm financing facilities.
 Low values for the current or quick ratios (values less than 1) indicate that a firm may have difficulty meeting current obligations.

RL Circuits
 We know from Lenz's law that inductors oppose changes in current.
 is the current in an RL circuit when switched on.
 The current will be 0.632 of the remainder in the next time.
 In each successive time $\tau$, the current falls to 0.368 of the preceding value, and in a few multiples of $\tau$, the current becomes very close to zero.
 (a) An RL circuit with a switch to turn current on and off.

Inductors in AC Circuits: Inductive Reactive and Phasor Diagrams
 The graph shows voltage and current as functions of time.
 The current then becomes negative, again following the voltage.
 Current lags behind voltage, since inductors oppose change in current.
 Changing current induces an emf .
 (b) Graph of current and voltage across the inductor as functions of time.

Current Maturities of LongTerm Debt
 The portion of longterm liabilities that must be paid in the coming 12month period are classified as current liabilities.
 The portion of longterm liabilities that must be paid in the coming 12month period are classified as current liabilities.
 The portion of the liability considered "current" is moved from the longterm liabilities section to the current liabilities section.
 If the current liability section already has an accounts payable account (balance which is usually paid off in 30 days), the current portion of the loan payable (due within 12 months) would be listed after accounts payable.
 Explain the reporting of the current portion of a longterm debt