Hi, Sorry for asking such a lame question, but I would prefer to be a fool than stupid.
Backed by Ashiana Housing and Poddar Developers success, I was looking at a company called “Rejeshwari Infra”.
Their trade payable in Annual report 2013 is 2,850,000. (Is the rounded up deliberately or just a coincidence.)
When I further looked in footnote, I was shocked and amused to see all the amount mentioned as “Advance from customer”. Doesn’t companies report advance from customers as “Other current liabilities”? Isn’t this wrong?
By now, it is clear that I’m dumb at accounting, trying to learn