Accrual basis
This query is : Resolved
Suraj Srivastava
(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.
CA Parul Saxena
(Expert)
18 July 2014
yes interest can be booked.
18 July 2014
yes it should be booked on accrual basis only...
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