Current liabilities reporting: standardised schedule for annual statement of accounts under IBBI rules, specifying liability and provision line items.

Prescribes a standardised Current Liabilities and Provisions schedule for the annual statement of accounts under the Insolvency and Bankruptcy Board rules, with columns for current and previous year. Current liabilities items include acceptances, sundry creditors (goods/others), advances received, interest accrued (secured/unsecured), statutory liabilities (overdue/others) and other current liabilities, totaled as (A). Provisions items include taxation, gratuity, superannuation/pension, accumulated leave encashment, trade warranties/claims and others, totaled as (B), with a combined total (A+B); hire purchase cost disclosure is noted.

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