17 July 2010
Agreed, You have to make disclosure in Form 3CD as below
11.a)Method of accounting employed in the previous year b)Whether there has been any change in the method of accounting employed vis-a-vis the method employed in the immediately preceding previous year. c)If answer to (b) above is in the affirmative,give details of such change,and the effect thereof on the profit or loss. d)Details of deviation,if any,in the method of accounting employed in the previous year from accounting standards prescribed under section 145 and the effect thereof on the profit or loss.
18 July 2010
The method of accounting can be switched over between any of the two financial year. 2.but there may be impact over the profit or loss and if so such impact only need to be disclosed in your profit and loss account...
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