Revise schedule vi

Others 434 views 2 replies

Please explain the meaning of following line mentioned in guidelines of revise schedule vi.

 

"A liability is classified as current if, as on the Balance Sheet date, the Company does not have an unconditional right to defer its settlement for 12 months after the reporting date."

 

I m confused basically in the words " Does not have" and "unconditional".

 

Thankx in advance

 

Replies (2)

It means that the co. should have not any unconditional right to deffer the payment more than 12 month .

The co. cant deffer the payment more than 12 month. It should be unconditional i. e. without interest, or any condition.

It means that the co. should have not any unconditional right to deffer the payment more than 12 month .

The co. cant deffer the payment more than 12 month. It should be unconditional i. e. without interest, or any condition.


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