Sundry creditors
This query is : Resolved
22 October 2012
i want to clear the concept regarding new revised b/s ...what is included in NON CURRENT LIABILITIES ' in item other long term liabilties ' ?
AND what is included in CURRENT LIABILTIES in item trade payables?
Thanks in advance
AND what is included in CURRENT LIABILTIES in item trade payables?
Thanks in advance
22 October 2012
1) Trade payables that are due to be settled more than twelve months after the end of the balance sheet date may be classified under the line item NON CURRENT LIABILITIES..
2) Trade payables that are expected to be settled in the company’s normal operating cycle or due to be settled within twelve months from the reporting date may be shown under CURRENT LIABILITIES.
2) Trade payables that are expected to be settled in the company’s normal operating cycle or due to be settled within twelve months from the reporting date may be shown under CURRENT LIABILITIES.
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