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Accounting policies to be adopted for university

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(Querist)
18 September 2009 Hi all,

One of my friend just started a univesity and now maintained his accounts on best possible way.

Suugest me that which accounting policy have to be adopted cash basis or mercantle basis?

Tell me detailed ant accounting of a university .............his income is exempt from tax u/s 10 23c
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Kaustuv

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Kaustuv (Expert)
19 September 2009 cash basis of accounting would not be recommended at all.

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