01-09-2006, 04:33 PM
NRSP is a big organisation they would have proper accounting policies but i am talking about small and medium size organisations where financial policies cease to exist. For instance i evaluated a medium size organisation in Lahore where they were not keeping the record of Fixed Assets rather they were expense out the entire amount of their capital and Medical equipment in the year of purchase. They just maintaining receipt and Payment Account and their auditor still manage to prepare Balance sheet with fixed assets schedule.
I wish to know that is it in accordance with the prevalent rule and regulation and IAS. If not where they have made departure from the said IAS
Zahid
I wish to know that is it in accordance with the prevalent rule and regulation and IAS. If not where they have made departure from the said IAS
Zahid
