How to calculate "current maturities of long term loans"
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 September 2013
Dear Professional Experts
Pls guide me regarding calculation and presentation of following as per Revised Sch. VI of Co. Act, 1956:
(i) Current maturities of long term loans &
(ii) Interest on term loan accrued and due on borrowings
Your valuable time in this busy audit period is highly appreciable.
Thanks
Pls guide me regarding calculation and presentation of following as per Revised Sch. VI of Co. Act, 1956:
(i) Current maturities of long term loans &
(ii) Interest on term loan accrued and due on borrowings
Your valuable time in this busy audit period is highly appreciable.
Thanks
CA Parul Saxena
(Expert)
06 September 2013
suppose you have taken loan of Rs.1000000 on 01.04.12 which is repayable in 5 installments of Rs.200000 each.and 1st installment due on 31.03.2013 so you would show the loan as:-
Current maturities of loan.........200000
(Under Current Liabilities)
Long term loan.....................800000
(Under Non-Current Liabilities)
Current maturities of loan.........200000
(Under Current Liabilities)
Long term loan.....................800000
(Under Non-Current Liabilities)
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