Accounting method v/s Accounting policy
This query is : Resolved
14 August 2016
how do we distinguish change in method of accounting from change in accounting policy.
14 August 2016
Please elaborate a bit
14 August 2016
For example, if a company changes it's method of determination of cost formula for valuation of inventory from fifo basis to weighted average cost basis. Is it change is accounting policy or method of accounting employed?
15 August 2016
it is change in accounting policy
Method of accounting are CASH system, ACCRUAL system, HYBRID system... (Income tax has derecognised HYBRID system)
Method of accounting are CASH system, ACCRUAL system, HYBRID system... (Income tax has derecognised HYBRID system)
16 August 2016
you are most welcome.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Regis.
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Disallowance of Section 43B(h) to sez units
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Sale of property furniture sale
- Gst input for FY 23-24
- Tax on capital gains revoked us 54f
- Company Incorporation - CA and directors signing from different states
- Filing of Form 10BB instead of Filing Form 10B
- HSN Details in IFF/GSTR-1 & in GSTR 9
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
