Is this current asset or not?
-Slow moving stock of stores and spares, which will neither be consumed within the normal operating cycle, nor will be sold within 12 months from the balance sheet date.
Is this current asset or not?
-Slow moving stock of stores and spares, which will neither be consumed within the normal operating cycle, nor will be sold within 12 months from the balance sheet date.
Tribhuvan Aditya Singh
(Student as well as Self-employed)
(3710 Points)
Replied 13 August 2014
CA Rahul Agrawal
(Deputy Manager)
(81 Points)
Replied 14 August 2014
It should be treated as current assets. Further Revised Schedule VI is also silent on this issue.
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