Single entry & double entry
This query is : Resolved
25 August 2011
DEAR SIR,
WHAT IS THE MAJOR DIFFERENCE BETWEEN SINGLE ENTRY & DOUBLE ENTRY SYSTEM AND WHAT IS THE MAJOR DIFFERENCE BETWEEN P&L A/c and income & expenditure a/c. in p&l a/c we take jv' s or not. in p&l a/c Exp & profits really occured or estimation.
WHAT IS THE MAJOR DIFFERENCE BETWEEN SINGLE ENTRY & DOUBLE ENTRY SYSTEM AND WHAT IS THE MAJOR DIFFERENCE BETWEEN P&L A/c and income & expenditure a/c. in p&l a/c we take jv' s or not. in p&l a/c Exp & profits really occured or estimation.
01 September 2011
In double entry there should be a debit/credit aspects. but single entry no having that. under single entry only we can prepare profit& loss a/c, Balance sheet
Income & expenditure prepared by non profit organisation, but profit &loss a/c will be prepared by business having profit nature
Profit & loss a/c will be prepared really actual expenses incurred
Income & expenditure prepared by non profit organisation, but profit &loss a/c will be prepared by business having profit nature
Profit & loss a/c will be prepared really actual expenses incurred
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- RATE AND HSN CODE
- EMI ISSUE IN HOUSING LOAN OLD REGIME
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- Portuguese Civil Code IT Return
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- Journal entry of busniess expenses
- Cash balance limit and property purchases limit
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
