Interest on overdraft

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166 Points Posted on 24 May 2023
sir interest on overdraft is current liability or capital, pls explain
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On 24 May 2023 at 12:51 Report
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Quick Summary
This discussion clarifies whether interest on an overdraft is considered a current liability or capital. The consensus is that interest on an overdraft, especially when payable within 12 months, is classified as a current liability. This is a standard accounting treatment for bank overdrafts.

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CA
97 Points Posted on 24 May 2023

interest on overdraft payable within 12 months is a current liability

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On 24 May 2023 at 13:50
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Practising CA
8954 Points Posted on 25 May 2023
Bank OD is current liability.
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On 25 May 2023 at 23:55
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CA
10436 Points Posted on 03 June 2023
Current liability
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On 03 June 2023 at 16:46

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