Home | | Accountancy 12th Std | Accounts from Incomplete Records

Chapter: 12th Accountancy : Accounts from Incomplete Records

Introduction | Accountancy | Study Material, Lecturing Notes, Assignment, Reference, Wiki description explanation, brief detail |

Accounts from Incomplete Records

Maintenance of accounting records as per double entry system is compulsory for certain organisations.

ACCOUNTS FROM INCOMPLETE RECORDS


Introduction

Maintenance of accounting records as per double entry system is compulsory for certain organisations. For example, in India, companies must maintain accounting records under double entry system as per Section 128(1) of the Indian Companies Act, 2013. Such organisations must maintain accounts only under double entry system. Other organisations may or may not strictly follow the double entry system. Organisations in which double entry system is not strictly followed, accounting records may be maintained as per the requirements and desires of the proprietors and accountants. As the accounting records are not prepared in its entirety as under double entry system, these records are called incomplete records.

Tags : Introduction | Accountancy Introduction | Accountancy
Study Material, Lecturing Notes, Assignment, Reference, Wiki description explanation, brief detail


Copyright © 2018-2020 BrainKart.com; All Rights Reserved. Developed by Therithal info, Chennai.