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Can Co. ignore Accrual basis of acctg and just prepare its FS using a Cash Basis? Is there any Standard prohibiting a Co. to prepare a Cash Basis FS?

Finance Financial Statements
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Question added by Ronaldo Moscosa CPA , Accountant , Madi Bin Askar Al Hajri Sons Co
Date Posted: 2017/04/29
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ahmed abdallah
by ahmed abdallah , Accounting Manager , Almuneef Company for Trade, Industry, Agriculture and Contracting

Let's prepare financial statements in accordance with tax standards

Muhammad Javed
by Muhammad Javed , Chief Accountant , Khushi Trading Co. LLC

No Co. can not ignore Accrual basis of accounting.

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