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Bank Overdraft-Whether considered Loan??


Rohit (student)     21 October 2016

Rohit
student 
 53 points

| My Other Post

Whether Bank OD is considered as loan. And If a co. has Bank OD . Whether reporting will be done in CARO 2016. Point 8.

Rahul Shah (Assistant Chartered Accountant)     21 October 2016

Rahul Shah
Assistant Chartered Accountant 
 18 likes  196 points

View Profile | My Other Post

According to Revised Schdule Vi Bank O/d is Considered as Current liability so in CARO Bank OD is Not to be considered according to my point of view.

avater

Dharmesh (Student)     21 October 2016

Dharmesh
Student 
 78 likes  1025 points

View Profile | My Other Post

Hi,

According to my view, bank overdrafts represent short-term loans and should be classified as liabilities in the balance sheet. Reporting under CARO will come as its a short-term loan.


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