Answer / deepa

Mercantile basis of accounting is nothing but the accrual
basis of accounting. In the accounting revenues are
recognised irrespective of when the cash is received

Answer / raghunath singbal

It is a system where the entries for income and expenses
are not necessarily for the current financial year but for
a continuous period of time.

Answer / harsh dave

It refers to that system of accounting n which expenses and
incomes are recorded as and when they incur.it does not
take into account the outstanding/prepaid expenses and
incomes.

Answer / shreekant

it is nothing but the accrual basis of accounting where
entries are made when the expenses actually incurred and
etries are made after the receipt of material,cash etc.

While processimg for vendor outgoing payments in f-53 i am getting error massage i.e.exchange rate difference incomplete in vendor g/l account and allowing me to clear the payment,how can i rectify this one,plz guide me?

1 Answers  

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What is the difference between consumption and production

1 Answers   Telco,

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Define EBIT & EBITDA?

7 Answers   Core Logic, Genpact,

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what is the meaning of invoice why company using this ?

1 Answers  

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in cash transaction, above Rs.20,000/- is invalid for auditing but what if above Rs.20.000/- transaction is made & how much tax will be paid if transaction is above Rs.20,000/-

1 Answers  

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what is amortization

8 Answers  

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Expand----------MSRT

1 Answers  

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what is credit balance of bank define briefly???

14 Answers   Genpact, HDFC,

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what is Calculation of Gross Profit Or Gross Loss?

0 Answers   EDS,

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i engaged with the accounts of manufacturing concern, i have a question when we purchased a fixed assets and after this we put the fuel in this for trial then this fuel is our also capital exp

1 Answers  

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tell about bank entry

2 Answers  

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how we can amortize the preliminary expenses calculation

1 Answers  

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