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Long term borrowing

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(Querist)
09 June 2014 How to bifercate the amt of borrowing in current & non current portion as per revised schedule VI
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PRADEEP KUMAR VATS

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PRADEEP KUMAR VATS (Expert)
10 June 2014 Hi Reshma

As you read the condition i.e.,four condition for showing any assets or liabilities as current liabilities otherwise its a non current.

One condition for current liabilities is that
- if the liability is to be settled within 12 months from the reporting date i.e.Balance sheet date then we will consider it current liabilities.

Now for example:
If any company has borrowings such as Term loan of Rs.20lakhs & out of which Rs.5 lakhs installment due for payment within 12 months from the reporting date then

We will show Rs.15lakhs under line items of Non current liabilities & else under current liabilities.

Regards
Pradeep Kumar
Profile Image

PRADEEP KUMAR VATS

Profile Image

PRADEEP KUMAR VATS (Expert)
10 June 2014 Hi Reshma

As you read the condition i.e.,four condition for showing any assets or liabilities as current liabilities otherwise its a non current.

One condition for current liabilities is that
- if the liability is to be settled within 12 months from the reporting date i.e.Balance sheet date then we will consider it current liabilities.

Now for example:
If any company has borrowings such as Term loan of Rs.20lakhs & out of which Rs.5 lakhs installment due for payment within 12 months from the reporting date then

We will show Rs.15lakhs under line items of Non current liabilities & else under current liabilities.

Regards
Pradeep Kumar
Profile Image

PRADEEP KUMAR VATS

Profile Image

PRADEEP KUMAR VATS (Expert)
10 June 2014 Hi Reshma

As you read the condition i.e.,four condition for showing any assets or liabilities as current liabilities otherwise its a non current.

One condition for current liabilities is that
- if the liability is to be settled within 12 months from the reporting date i.e.Balance sheet date then we will consider it current liabilities.

Now for example:
If any company has borrowings such as Term loan of Rs.20lakhs & out of which Rs.5 lakhs installment due for payment within 12 months from the reporting date then

We will show Rs.15lakhs under line items of Non current liabilities & else under current liabilities.

Regards
Pradeep Kumar
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