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?

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What is the difference between Cash & Accrual Basis ? when we can use each o...
Posted by:
khaled Ibrahim Sayed Abd El Salam Ibrahim
08-June-2014

Finance Financial Statements

Question added by Ronaldo Moscosa CPA , Accountant , Madi Bin Askar Al Hajri Sons Co
Date Posted: 2017/04/29

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2 Answers

by ahmed abdallah , Accounting Manager , Almuneef Company for Trade, Industry, Agriculture and Contracting

Let's prepare financial statements in accordance with tax standards

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

No Co. can not ignore Accrual basis of accounting.

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