08-04-2010, 05:00 AM
you can do either of the two...but whatever option you choose..apply it consistently from period to period..
my personal view is..if there is a sizeable OD n current year or expected in future...you should segregate OD n present on liability side......and consistently apply this practice from period to period...
if OD is minor amount then u can just net it off.
my personal view is..if there is a sizeable OD n current year or expected in future...you should segregate OD n present on liability side......and consistently apply this practice from period to period...
if OD is minor amount then u can just net it off.
