- This topic has 1 reply, 1 voice, and was last updated 5 months ago by
.
Viewing 2 posts - 1 through 2 (of 2 total)
- Posts
- February 5, 2020 at 6:20 am
Why is deferred income considered a liability and also can you please shed some light on the issue of non current liability and current liability concerning deferred income?
February 9, 2020 at 9:57 amHi,
It is a liability due to the fact that if it was to be reclaimed by the government then it would be paid back.
As the money has been received for a period of more than a year at the reporting date we need to look at what it released in the following reporting period (current) and that to be released after the next period (non-current).
Thanks
Viewing 2 posts - 1 through 2 (of 2 total)
You must be logged in to reply to this topic.