As per accounting standards, what is the meaning of "Short
Term Liabilities and Long Term Liabilities:? As the Company
can change the classification based on their business? Or
these meanings are fixed?
Re: As per accounting standards, what is the meaning of "Short
Term Liabilities and Long Term Liabilities:? As the Company
can change the classification based on their business? Or
these meanings are fixed?
Re: As per accounting standards, what is the meaning of "Short
Term Liabilities and Long Term Liabilities:? As the Company
can change the classification based on their business? Or
these meanings are fixed?
Short term liabilites means those liabilities which are
paid imedately like Bills Payble and lond term liabilities
are those liabilities which are taken for use of long
period like Share capital Bank o/d.
Re: As per accounting standards, what is the meaning of "Short
Term Liabilities and Long Term Liabilities:? As the Company
can change the classification based on their business? Or
these meanings are fixed?
Re: As per accounting standards, what is the meaning of "Short
Term Liabilities and Long Term Liabilities:? As the Company
can change the classification based on their business? Or
these meanings are fixed?
short term liability means those liabilities which are
cleared in one financial period
Long term liability means those liabilities which can't be
cleared in 1 financial year
1. WE RUN A OFFICE IN RENTAL BUILDING, MY QUESTION IS A) I
TREAT THE OWNER OF A BUILDING AS CREDITOR AND PASS JOURNAL
VOUCHER IN TALLY AT THE END OF THE MONTH (OR)I SIMPLY
ACCOUNT THE RENT TO BE PAID AS OUTSTANDING EXPENSES AND
AFTER AT THE TIME OF PAYMENT I PUT PAYMENT VOUCHER , PLEASE
ADIVICE ANY OTHER OPTION ALSO?
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