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liabilities

vr.tr.liabilities · thing-liabilities

Let an agent handle liabilities by type, amount, due date and creditor, give factual information, and signpost professional accounting advice.

Thing Registry Society, people and institutions SOC.ECO
Bundle → Layer → Finding → QuestionsClassifiersWhat it isWhy it existsDistinguishing featuresWhat robots and AI may and may not doMoral aspectsOwnersLinks to other meta-modelsIdentity and identifiersDirect propertiesRecognitionCapabilities and actionsHazards and failure modesStandards and interfacesContext of useSources

Bundle → Layer → Finding → Questions Filled

4 bundles · 8 layers · 8 findings · 16 questions

Identity What is owed.

Type

Payable, loan, tax.

Type

Liability type.

  1. What type of liability is it? definition
  2. To whom is it owed? provenance

Amount

How much.

Amount

Amount and due date.

  1. How much is owed, and when is it due? measurement
  2. Is interest accruing? boundary
Accounting Recognition.

Classification

Current or not.

Classification

Classification.

  1. Is it current or non-current? definition
  2. Under which standard? provenance

Contingent

Possible obligations.

Contingent

Contingent liabilities.

  1. Are there contingent liabilities? boundary
  2. How are they disclosed? provenance
Solvency Ability to pay.

Ratios

Liquidity and leverage.

Ratios

Solvency ratios.

  1. What do liquidity and leverage ratios show? measurement
  2. Is there a risk of insolvency? boundary

Advice

Professional help.

Advice

Where to get help.

  1. Where can the person or business get advice? action
  2. Is this beyond what the agent should answer? boundary
Settlement Paying off.

Payment

Schedules.

Payment

Payment plan.

  1. How will it be settled? action
  2. Can terms be renegotiated? boundary

Disputes

Contested amounts.

Disputes

Disputes.

  1. Is the amount disputed? boundary
  2. How is it resolved? action

Classifiers Filled

Family
Thing Registry
Category
Society, people and institutions
Entry kind
noun.possession
Plane
SOC
Domain
SOC.ECO
Facets: substance
social
Facets: origin
conceptual
Facets: agency
inert
Facets: mobility
not-applicable
Facets: scale
not-applicable
Facets: affordances
observable
Other names and narrower kinds
tax liability, payables, charge, encumbrance, incumbrance, accounts payable, short-term liability, contingent liability

What it is Filled

Anything owed to someone else, such as debts, payables, taxes owed and encumbrances, recorded on a balance sheet as obligations.

Why it exists Filled

Let an agent handle liabilities by type, amount, due date and creditor, give factual information, and signpost professional accounting advice.

Distinguishing features Filled

  • Obligations to others
  • Current and non-current
  • Offset against assets
  • Contingent liabilities may arise

What robots and AI may and may not do Filled

Must not

  • Hide, understate or move liabilities off the books to mislead.
  • Pay, cancel or sell a debt without authority.
  • Disclose a person's or company's debts beyond those entitled to know.
  • Pressure debtors in ways that are abusive or unlawful.

Only with a human decision

  • Settling, writing off or restructuring a liability.
  • Reporting a debt to a credit agency.

May

  • Record and report liabilities from the books it is authorized to keep.
  • Reconcile payables and flag overdue obligations to the responsible person.

Moral aspects Filled

  • Hidden liabilities deceive investors, creditors and employees.
  • Debt can trap people; collection must be lawful and humane.

Who is affected

  • Creditors
  • People who owe the debts
  • Investors and employees

Owners Filled

Steward

The debtor, whose accountant keeps the books; auditors and regulators check them.

Master systems

  • Company accounts filed with business registers
  • Credit reference registers

Links to other meta-models Filled

parent

  • oewn-00032912-n - registry parent class

related

  • assets - balance sheet
  • debt - kinds
  • payment - settlement
  • financial statement - accounts

What else AI and robots need to interact with it Filled

Identity and identifiers required Filled

  • Vercy registry: vr.tr.liabilities
  • Open English WordNet: oewn-13417227-n

Direct properties not applicable Not applicable

Not applicable

Plane SOC: no invented physical properties.

Recognition optional Filled

  • Balance sheet liability section
  • Accounts payable and tax liability lines
  • Encumbrances on property registers
  • Balance sheet lines, invoices due and loan statements.

Capabilities and actions required Filled

  • record them in accounts
  • pay or settle them
  • classify them as current or non-current
  • assess solvency

Hazards and failure modes required Filled

  • Understated liabilities
  • Missed payments
  • Hidden contingent liabilities

Standards and interfaces required Filled

  • IFRS and national accounting standards
  • Insolvency law

Context of use required Filled

  • Showing what an organisation or person owes.
  • accounts payable
  • loans and debt
  • tax liabilities
  • provisions and contingent liabilities
  • encumbrances

Sources Filled

  1. Open English WordNet 2024, synset oewn-13417227-n - sense and gloss of the concept
  2. Wiktionary: liabilities - word senses and usage

Open questions

  • Should liability types be separate entries?
  • How should agents present balance sheets?
  • How should personal and business liabilities be separated?

Machine files

Card as JSON Specification Card backlog vercy.card/1

Provenance

thing registry research (pass 2) · unreviewed

Built from: models/things/publications/thing-liabilities/spec.json