broker a/c should be shown under which group in current assets [loans * advances or debtors]?
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broker a/c
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Hi,
Broker charges are in the nature of investment costs and are not part of trade debtors. As per the revised Schedule VI of Companies Act, 1956, the broker a/c if in debit should be shown under other current assets and if payable to be shown under Other current liabilities.
Rgds,
Srinivasan
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