Trust audit
This query is : Resolved
10 July 2019
1) Does trust needs to mandatorily charge depreciation on their fixed asset..?
2) Does trust have option to do accounting as per cash basis or accrual basis..??
2) Does trust have option to do accounting as per cash basis or accrual basis..??
10 July 2019
1. No, if bye law is silent/permits so.
2. Yes, but subject to the bye law.
2. Yes, but subject to the bye law.
Message likes :
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14 July 2019
in case of second question, if bye laws are silent then i can use any method of my choice, but if bye laws specifically state that particular method is to be followed then you have to follow that particular method. Am I rightly understood..??
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