Classification of Fixed Deposit
This query is : Open
01 July 2017
Dear Expert,
If I have a Fixed Deposit taken on 1th May 2016 to 31st July 2017,(around 430 days)
and as on 31st March 2017 reporting Date,
only 120 days are left to maturity
Then whether such FD would be classified as Current or Non current Asset as per schedule 3 of companies Act 2013
01 July 2017
Classified it as current Asset
05 July 2017
In my opinion, FD is investment or Cash and cash equivalents. If it is short term, show it as cash and cash equivalent. In your case, it should be cash and cash equivalent.
Thanks
Thanks
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