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????
 
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Student CA IPC / IPCC

Mercantile system is followed
 
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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
 
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Chartered Accountant

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

 
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Thank you sir , now I cleared
 
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