Insurance premium paid
SUMIT BADYAL (709 Points)
03 February 2021
hi, payment of insurance premium (goods) comes under current assets or expenses.
SUMIT BADYAL (709 Points)
03 February 2021
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 03 February 2021
That depends upon the insurance contracts which is vague even till date despite IndAS and AS and IFRS...This sucks and I’m busy.... Follow your old AS... or... you know what?ill find something for you in AS by tomorrow... man, AS is weaker before IndAS
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 04 February 2021
It is a current asset, loks like I got carried away ..cheers
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 04 February 2021
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CAclubindia
