Prepaid expenses (rent) of next 5 yr how to present it in balance sheet and notes to account does a part of it showed under current assets and the remaining in non current assets or wholly showed in non current assets or wholly showed in current assets
For example if the rent. of premises is 1 lac p.a and firm has paid 5 lac in advance for next 5 years so how to classify it whole 5 lac in current assets or whole in non current or partly in current. and 4 lac in non current ??
CAclubindia
