Bank Overdraft and cash credit are shown under which head in the company’s Balance Sheet?

Short term Borrowings

*Current Liabilities are classified as (a) Short-term borrowings (b) Trade payables (c) Other current liabilities (d) Short-term provisions
*Current/Non-current distinction An item is classified as current: if it is involved in entity’s operating cycle or, is expected to be realised/settled within twelve months or, if it is held primarily for trading or, is cash and cash equivalent or, if entity does not have on unconditional rights to defer settlement of liability for atleast 12 months after the reporting period, Other assets and liabilities are non-current.
*Total borrowings are categorised into long-term borrowings, short-term borrowings and current maturities to long-term debt. (i) Loans which are repayable in more than twelve months/operating cycle are classified as long-term borrowings on the face of balance sheet. (ii) Loans repayable on demand or whose original tenure is not more than twelve months/operating cycle are classified as short-term borrowings on the face of balance sheet.