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Cash basis/mercentile system

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(Querist)
19 December 2011 Sir, our is proprietory concern and we are following cash basis accounting system and we are converting into pvt.ltd co. Is it compulsory to maintain books of account on mercentile system or can we still continue with cash basis system ? .

Thanks Sir,
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CA MANOJ GUPTA

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CA MANOJ GUPTA (Expert)
19 December 2011 for company law purpose u will have to maintain books according to accrual basis of accounting
CA MANOJ GUPTA
JODHPUR
09828510543

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