IndigoLearn

Cash basis or Due basis

Hi Sir , Prepare profit & loss account on cash basis or due basis ?


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

29-Dec-20 22:05

23

Answers (8)

Generally accrual basis.


Suraj Lakhotia

Suraj Lakhotia

Admin

30-Dec-20 16:02

If cash basis , its okei?


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

30-Dec-20 21:15

If cash basis , its okei?

For companies - not allowed. Others may do.


Suraj Lakhotia

Suraj Lakhotia

Admin

31-Dec-20 19:01

Hi Sir , So we can prepare other constitutions financials on cash basis ..


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

01-Jan-21 10:08

Accrual basis


venkatesh sundharamoorthy

venkatesh sundharamoorthy

CA Inter

7K+

01-Jan-21 21:06

Hi Sir , So we can prepare other constitutions financials on cash basis ..

You can prepare on cash basis for sole proprietors as there is no law governing them.


Suraj Lakhotia

Suraj Lakhotia

Admin

02-Jan-21 15:27

Why? More helpfull , explains the base little?


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

02-Jan-21 22:05

Why? More helpfull , explains the base little?

Cash basis is simpler. For small businesses, it is easier.


Suraj Lakhotia

Suraj Lakhotia

Admin

04-Jan-21 15:43