Do debtors and creditors accounts appear in modified cash basis of accounting as fixed assets accounts appear in it. To what extent accrual system is used in modified cash basis?? Please clarify this for me.....
Is there any classification in capital and revenue (expenditure and income) while calculating profit in modified cash basis??
It is not used much and is not relevant in the current times.
What is the accounting that generally used by governments??
Cash. But most governments are gradually moving to accrual