Cash based accounting system

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57 Points Posted on 08 May 2009

Can anybody confirm me, the organisations that are allowed to do accounting as per cash based accounting?

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On 08 May 2009 at 14:08 Report
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Commerce Coaching- Accounts Cost FM
735 Points Posted on 08 May 2009

non profit seeking orgaisations e.g. school, colleges, clubs etc are allowed to do accounting.on cash basis.

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On 08 May 2009 at 15:59
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No any one is free to obtain any type pf accounting method except Company. As per Company Law companies are bound to follow the accounting system based on Accrual basis. 

You have to mention the basis of accounting in your auditor's report

 

>> Rajesh

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On 09 May 2009 at 08:37

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