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Q. > Please Help: ACCOUNTING OF A SCHOOL
SIR, I WANS TO KNOW ABOUT ACCOUNTS BOOK OF A SCHOOL WHAT DIFF. BETWEEN A SCHOOL AND MANUFACTURING UNIT ACCOUNTS
2 Answers
answered Mar 22, 2012 by CA Satuti Mahajan , batala
In the case of a school, Income & Expenditure account is maintained but in the case of a manufacturing unit, Profit & Loss account is maintained.
answered Mar 22, 2012 by Rishabh Upadhyay , Chandigarh
Accounting for school is entirely different from that of a manufacturing concern in terms of applicability of taxes ie excise And sales tax . . More over schools are usually registered as a educational trust. . So provisions of trust will also apply if that is the case. .
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CA Satuti Mahajan
22-Mar-2012 , 06:46:36 pmIn the case of a school, Income & Expenditure account is maintaine while in a manufacturing account, Profit & Loss account is maintained.
SHIKHA SONI
24-Mar-2012 , 11:24:25 ambooks of manufacturing concern are different from those of educational societies and trust and also depends upon accounting systems maintained by them