This is a much longer post than usual for me, but I feel it is important. If it is to long feel free to skip it.
To me the importance is knowing what liberalism is so if we find ourselves in a church with these beliefs we will realize this church is not base on true Christianity.
What is "Liberalism?" Liberalism is a belief system that is parasitic on traditional Christianity, but is not Christianity.
It tries to pass itself off as Christianity by using the traditional language of the bible, but it is non-salvific and non-redemptive in nature.
Liberalism rejects the inspiration of scripture and thus rejects the bibles claims about itself. It also rejects Jesus' claims about the bible and the early churches' witness the the claims made by the apostles about scripture.
Liberalism rejects prophecy because it rejects inspiration, which is an error on the same grounds.
Liberalism redacts scriptural elements which it does not like. Liberalism thus stands over and not under the teaching of God.
Liberalism desupernaturalizes the world. Often a person is a material object and the spiritual nature of the world as witnessed by the bible is gone.
Liberalism rejects traditional salvation principles. These are the principles laid out in the Gospels and other NT books about how faith in Jesus' work of salvation in the cross alone brings salvation.
Liberalism rejects that the bible has a coherent story leading to the cross. It thus rejects the teaching of Jesus, the bible and the early church.
Liberalism replaces faith with a moralism and is a set of teaching and functions as a social club rather than a place to seek salvation.
Liberalism rejects missions since salvation is no longer a part of their agenda. Again in opposition to the teachings of the religion the pretend to hold.
Liberalism is dishonest in that it seeks unity at all costs even if it bends the truth and the creeds of it's churches.
No church is perfect but if we find ourselves in one with these features we may need to seriously question if the church is truly seeking to be faithful to God.