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Cash system

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(Querist)
11 August 2009 Wheather the audit fee payable shown in the balancesheet under cashsystem of accounting,is correct or not(give reason).
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
11 August 2009 No... If you are following cash method how can you accrue outstanding expenses. Payable itself means accrued. Not as per cash accounting method.
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aneesh.s

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aneesh.s (Querist)
17 August 2009 thanks for your reply.
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