Cash vs acrual
This query is : Open
Jayamohanan
(Querist)
28 September 2017
How does the financial statements of a company based on cash method differs from the financial statements of the same company based on accrual method? Mention a transaction that will be entered differently?
CA Rashmi Gandhi
(Expert)
28 September 2017
Assume rent for a godown of co. is 10000/- p.m.& you pay 50000/- for C.Y. & 30000 for P.Y.
Then on accrual basisi it is 120000/-
& on cash basis same is 80000/-
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