Schedule vi
This query is : Resolved
25 June 2012
DEAR SIR,
PLESE TELL ME, WILL THE BANK OVERDRAFT CONSTITUTE THE LONG TERM BORROWING AS GIVEN IN NEW SCHEDULE VI OF COMPANIES ACT OR IT IS SHORT TERM BORROWING AND WHAT IS THE DIFFERENCE B/W THESE TWO.
THANKYOU
PLESE TELL ME, WILL THE BANK OVERDRAFT CONSTITUTE THE LONG TERM BORROWING AS GIVEN IN NEW SCHEDULE VI OF COMPANIES ACT OR IT IS SHORT TERM BORROWING AND WHAT IS THE DIFFERENCE B/W THESE TWO.
THANKYOU
25 June 2012
Bank OD is Short Term Borrowings to be shown under Current Liabilities.
Short–Term Borrowings will include all
Loans within a period of 12 months from
the date of the loan but will not include Current Maturity of Long–Term Borrowings (which should be treated only as “Other Current Liabilities”)
Short–Term Borrowings will include all
Loans within a period of 12 months from
the date of the loan but will not include Current Maturity of Long–Term Borrowings (which should be treated only as “Other Current Liabilities”)
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