System of accounting

If a educational institution prepares BRS (Bank Reconcilation Statement) then which will be the system of accounting of the institution. whether cash basis or mercantile????
Student CA IPC / IPCC

Mercantile system is followed

thank you sir
but in the balance sheet we shows bank balance after debuting the outflows
as per cash basis system we should record when cash inflow or out flow take plase
Chartered Accountant

There can not be BRS where cash system of accounting is followed. it has to be  mercantile basis only


Thank you sir , now I cleared


Your are not logged in . Please login to post replies

Click here to Login / Register  


× Online Coaching My Enrolled Courses
Articles Forum News Experts Exams Share Files Income Tax Accounts Career Corporate Law Service Tax Video Judgements Rewards Top Members Events Albums Find Friends Featured Feed Scorecard Bookmarks Mock Test Poll Notification Knowledge Finder Coaching Institutes Trainee Corner Jobs