WHERE TO SHOW CURRENT MATURITIES OF LONG TERM BORROWING IN REVISED SCHEDULE VI.
UNDER SHORT TERM BORROWING OR UNDER OTHER CURRENT LIABILITIES????????????????????
Manish Negi (Expert) (394 Points)
20 October 2012WHERE TO SHOW CURRENT MATURITIES OF LONG TERM BORROWING IN REVISED SCHEDULE VI.
UNDER SHORT TERM BORROWING OR UNDER OTHER CURRENT LIABILITIES????????????????????
Aarush
(Delhi)
(1566 Points)
Replied 20 October 2012
Agree , I was wrong previously.
8.3.1.10 The current maturities of all long-term borrowings will be disclosed under ‘other current liabilities’ and not under long-term borrowings and shortterm borrowings. Hence, it is possible that the same bonds / debentures / term loans may be bifurcated under both long-term borrowings as well as under other current liabilities. Further, long-term borrowings are to be subclassified as secured and unsecured giving the nature of the security for the secured position.
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