NGO accounts maintaining

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CA student
216 Points Posted on 15 March 2021
my friends, as per ICAI all non government organization gross revenue above 50 crores they follow accrual basis accounts, but it's below 50 means can I avail cash basis account maintaining....
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On 15 March 2021 at 15:59 Report
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This discussion clarifies accounting practices for Non-Governmental Organisations (NGOs) in the UK. It confirms that NGOs with gross revenue below £50 crore can opt for cash basis accounting, while those above this threshold must follow the accrual basis as per ICAI guidelines. The use of a barter system for accounting is also briefly touched upon.

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My grammar is 💯 good I
7306 Points Posted on 15 March 2021

Yes you can avail that facility. I guess barter system is abolished, otherwise that would also be applicable

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On 15 March 2021 at 16:27
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Chartered Accountant
24588 Points Posted on 15 March 2021
Yes you can
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On 15 March 2021 at 17:02

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