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Insurance premium paid
hi, payment of insurance premium (goods) comes under current assets or expenses.
Replies (4)
That depends upon the insurance contracts which is vague even till date despite IndAS and AS and IFRS...This sucks and I’m busy.... Follow your old AS... or... you know what?ill find something for you in AS by tomorrow... man, AS is weaker before IndAS
It is a current asset, loks like I got carried away ..cheers
If insurance premium is accrued then it will be current assets otherwise it will comes under expenses under mercantile
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