Suppose as on 31st March 2021 a gratuity liability of Rs. 1 cr was shown as non current liability. After B/S date but before it's approval by BOD the company paid the same liability of Rs. 1 Cr.
Query:
Should company reclassify the non current liabilities to current by considering the payment within 12 months as adjusting event ?
Reclassification of Non current liability to current due to events occuring after BS date
Vinay sawant (nothing) (176 Points)
18 April 2021
CAclubindia
