Current Liabilities

Current liabilities of a company include:
Accounts Payable, Notes Payable, Interest Payable, Wages Payable and other obligations the company expects to pay within the next year or current operating cycle, whichever is longer.

Current Assets

Current assets of a company include: 

Cash, Accounts Receivable, Inventories, Notes Receivable, and Short-term investments and other assets the company intends to convert to cash within the next year or current operating cycle, whichever is longer.