Menu
Accrual basis of accounting
can anybody tell me that how accrual basis of accounting help in recording transaction in books of accounting.
Replies (2)
in accural basis of accounting expenses and income should be consider of only that accounting year...
in accrual basis of accounting only those income and expenses are recorded that relates to the relevant period. even if payment is not received or paid. and as it is recorded in the relevant year it will form part of the profit and loss a/c of that year only and not of the year in which actual payment is made.
Recent Topic
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
Related Topics
CAclubindia
