🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

Back

Tarun Suthar

 • 

The Institute of Chartered Accountants of India • 29d

So basically, it's a Cash and Accrual Concept. Let me summarise this, both are methods to record accounts and transactions ( you can choose either). Cash Concept- when you record transaction entries based on when the actual cash is spent or received no matter the financial period. Accrual Concept- when you record any transaction based on when it is earned or spent, no matter whether it's actually received or spent (maybe it is an outstanding transaction).

1 Reply
4
Replies (1)

More like this

Recommendations from Medial

Image Description

Saket Sambhav

Adjuva Legal • 2m

Profit vs. Cash Flow 💸: The Silent Startup Killer! 💀 Heads up, founders! You can be 'profitable' on paper but still go bankrupt. Why? Profit: Revenue - Expenses (often accrual-based). Cash Flow: Actual cash IN ➡️ - Actual cash OUT ⬅️. Problem:

See More
1 Reply
2
12
Image Description
Image Description

Tariq Hameed

Entrepreneur || Andr... • 1y

What are your thoughts on the concept of an plateform summarise lengthy YouTube videos into brief blogs or articles for easy consumption?

6 Replies
5

Karan Jot Singh

Jack of all trades, ... • 11d

Day 2/60 Spent hours researching NFT integration & hardware APIs that won't matter for weeks. But stumbled upon Solana's sealed/unsealed concept - struck multiple wild ideas Interested to discuss anyone? #BuildInPublic #FocusMatters #Solana #Web3

See More
Reply
5

manan sharma

Aspiring entrepreneu... • 11m

The idea is to create a trust-based escrow service for first-time (or can be used when the transaction amount is hight such as in real state transactions) between buyers and sellers, addressing the issue of trust where neither party knows the other w

See More
Reply
1
Image Description
Image Description

Neelambar Sonwani

100x target through ... • 1y

In the era of DigitalIndia, it's surprising when transaction details are not readily available. What's happening here? Even if a wrong transaction or fraud occurs, what can cybercell really do? They will eventually extract the details. Therefore, one

See More
3 Replies
9
Image Description

Nishant Gupta

Changer • 6m

I want to make a software for accounting with an automated feature for the small retailer shop if any payment received through specific QR pop up come in the mobile phone to verify whether record the transaction as a sales transaction and accordingl

See More
1 Reply
2
4

Download the medial app to read full posts, comements and news.