Cash System of accounting

This query is : Resolved 

13 October 2007 in cash system whether depreciation should be provided or not. If provided why?

13 October 2007 In cash system of accounting , only actual cash payments and receipts are recorded. So, there is no place for depreciation which is a non cash expenditure.The accountant should not write depreciation.

However the auditor can claim depreciation in the Income adjusted statement as per the IT rates prevailing.



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries