what is the difference between contact a/c and memorandum contract a/c
when is memorandum a/c is prepared and for what purpose?
I came across this memorandum a/c in many areas of accounting and costing
can anyone clarify me this!!
thanks in advance
Menu
general Vs memorandum a/c
Replies (2)
Memorandum A/c is just like normal account prepared for ascertaining missing figure. For example, you have opg. bal. of debtors, credit sales and clg. bal. of debtor, and you want to know cash received, you prepare memorandum debtor A/c.
Memorandum Accounts doesn't contribute part of the Financial accounting..It is just prepared for our own calculation purpose. Further I am agreed with Manish
Recent Topics :
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
Related Topics :
CAclubindia
