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Current maturity as per schedule 3
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
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Quick Summary
It's better to shown in loans and advances under current asset.
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 ??
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