Accouting method for professional

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106 Points Joined March 2011
is it possible for a professional (CA) to follow cash basis of accounting for receipts and mercantile basis for expenses in his own books of accounts?
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On 05 October 2019 at 18:59 Report
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1623 Points Joined January 2019
No...
Accrual basis accounting is required for publicly-held entities, and for any organization that wants to have its financial statements audited.
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On 05 October 2019 at 20:08


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