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Debtors

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14 December 2013 if debtors are standing for more than 1 year then how it could be under current assets?
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CA Vijeta Verma

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CA Vijeta Verma (Expert)
15 December 2013 Depends upon the operating cycle of the company.Revised schedule vi decides the status of an asset /liability as current or non current depending upon the conformity of operating cycle of the company.If operating cycle of the company is 15months long & debtor's age is 13months it will be current asset even if it exceeds one year term.
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