UNSECURED LOANS
Unsecured loans are those loans which are not secured against the security of any of the assets of the company. Unsecured portion of the partly secured loans should be shown under unsecured loans.
Unsecured Loans are classifies as below
a) Fixed Deposits
b) Loans and Advances from Subsidiaries
c) Short Term Loans and Advances
i. From subsidiaries
ii. From others
d) Other Loans and Advances
i. From subsidiaries
ii. From others
Important note:-
2) Interest accrued and due on unsecured loans should be included under the appropriate sub-head under unsecured loans.
3) Loans taken from directors and mangers should be shown separately
4) If the loans are guaranteed by director and manager, it is required to mention the guarantee and the amount of loan under each head.
5) Short term loans and advances are those which are due for repayment with one year from the date of balance sheet
6) Inter-corporate unsecured deposits and Commercial Papers fall under this head
Unsecured loans are those loans which are not secured against the security of any of the assets of the company. Unsecured portion of the partly secured loans should be shown under unsecured loans.
Unsecured Loans are classifies as below
a) Fixed Deposits
b) Loans and Advances from Subsidiaries
c) Short Term Loans and Advances
i. From subsidiaries
ii. From others
d) Other Loans and Advances
i. From subsidiaries
ii. From others
Important note:-
2) Interest accrued and due on unsecured loans should be included under the appropriate sub-head under unsecured loans.
3) Loans taken from directors and mangers should be shown separately
4) If the loans are guaranteed by director and manager, it is required to mention the guarantee and the amount of loan under each head.
5) Short term loans and advances are those which are due for repayment with one year from the date of balance sheet
6) Inter-corporate unsecured deposits and Commercial Papers fall under this head