Methods of accounting
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 February 2014
Hey Frndss
As hybrid system of accounting is not permissible by law but for some professional entities like CA firm can follow the same,
So is it correct and if yes then trust or society can also use this system for there accounting.
As hybrid system of accounting is not permissible by law but for some professional entities like CA firm can follow the same,
So is it correct and if yes then trust or society can also use this system for there accounting.
14 February 2014
no, as only for professional can prepare financial statements on the basis of cash system and all corporates and other needs to follow accrual system only.
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 March 2014
that means a professional like CA can also not account the books on hybrid system
10 March 2014
hybrid system is not allowed for any1 in india at present.
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