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Could someone please detail the accounting entries associated with the 3 month project period in relation to the Rs 500000 advance (towards IT project cost) received in the first month?
May 14 2014 05:49 PM
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Assume that in July, Tata Motors paid Rs.5 Crores to an external IT consultant for a software project that took 6 months to complete. In July how much would Tata Motors' cash and net income decrease b
The end result of both cash accounting and accrual accounting is the same then why is one method wrong?
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