Accounting systeam
Querist : Anonymous
" TO CHECK SYSTEM OF ACCOUNTING "
Querist : Anonymous
" TO CHECK APPROPRIATENESS OF SYSTEM OF ACCOUNTING "
Querist : Anonymous
IF PROPERLY NOT FOLLOWED
We are booking our Revenue/Sales on Accrual basis ( When we raise the bill ).
But we book Expense on Payment basis ( When we paid them )
So, in above accounting, we are not following neither Cash basis nor Accrual basis. So, in above ex. the Accounting system is not properly followed.
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