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Accrual basis

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(Querist)
18 July 2014 Can a Govt company, following accrual basis of accounting, may account for interest on employee advance on cash basis, on the basis of making it as it's accounting policy.
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CA Parul Saxena

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CA Parul Saxena (Expert)
18 July 2014 yes interest can be booked.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 July 2014 yes it should be booked on accrual basis only...
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