Rahul Shah
(Assistant Chartered Accountant)
(196 Points)
Replied 21 October 2016
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.
Dharmesh
(Student)
(1025 Points)
Replied 21 October 2016
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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