04 April 2012
Revised Schedule VI - Presentation Disclosure
Revised Schedule VI has divided the Assets and liabilities into Current and Non current portion.
Here, Provision for leave salary will be divided into current and Non current depend upon the nature and terms of payment in the coming months or year.
Suppose, there is unconditional right to pay off leave salary within 12 months from the end of the financial period then you may recognise the same as Current liabiliites under Short term provisions.
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