Schedule vi
This query is : Resolved
priyankasanghi
(Querist)
14 August 2013
the wordings given in the schedule vi are as follows :
Companies will also need to bifurcate all their borrowings into ‘current’ and ‘non-current’. It is possible that the same borrowing will be classified into two components depending on the portion repayable within/after twelve months from the balance sheet date.
Does it mean
if there is a borrowing of Rs. 500000 and as an installment 50000 is to be paid with in 12 months then 50000 is to be shown as current and balance 45000 should be shown as non current
Companies will also need to bifurcate all their borrowings into ‘current’ and ‘non-current’. It is possible that the same borrowing will be classified into two components depending on the portion repayable within/after twelve months from the balance sheet date.
Does it mean
if there is a borrowing of Rs. 500000 and as an installment 50000 is to be paid with in 12 months then 50000 is to be shown as current and balance 45000 should be shown as non current
14 August 2013
You are right. Part of the borrowing which is repayable within 12 months shall be shown as current borrowing and the balance shall be shown as non-current borrowing.
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