what is the journal entry for this situation? and why?
Gratuity for this year TK1000000,which TK700000 shows in
income statement and TK150000 will shown in next 2 year
each.(this is a management decision)
Whether the term loan which was long term as on Mar-11, but
now it is short term due to its repayment within one year
from the reporting period. Whether it should be classified
as short term borrowings or other current liabilities as per
Revised schedule VI.