WHERE TO SHOW CURRENT MATURITIES OF LONG TERM BORROWING IN REVISED SCHEDULE VI.
UNDER SHORT TERM BORROWING OR UNDER OTHER CURRENT LIABILITIES????????????????????
3 Replies
Aarush
(Delhi)
(1566 Points)
Replied 20 October 2012
Agree , I was wrong previously.
8.3.1.10 The current maturities of all long-term borrowings will be disclosed under ‘other current liabilities’ and not under long-term borrowings and shortterm borrowings. Hence, it is possible that the same bonds / debentures / term loans may be bifurcated under both long-term borrowings as well as under other current liabilities. Further, long-term borrowings are to be subclassified as secured and unsecured giving the nature of the security for the secured position.
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