What are the important points that i have to keep in mind while performing an audit of a firm that is following a cash basis of accounting?
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Audit of firm following cash basis of accounting
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u just have to do audit as usual u do for mercantile basis...but remember that ther will be no..provision...no expenses payable and ...u cant recognose sale/revenue on credit basis any receipt from customer whether advance or payment for due will be recognised as sale...
that is my view ...other comments are also welcome
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