books of account short notes

Posted on 17-04-2016        By ADMIN

books of account short notes

“books of account” as defined in Section 2(13) includes records maintained in respect of—  

(i) all sums of money received and expended by a company and matters in relation to which the receipts and expenditure take place;  

(ii) all sales and purchases of goods and services by the company;  

(iii) the assets and liabilities of the company; and  

(iv) the items of cost as may be prescribed under section 148 in the case of a company which belongs to any class of companies specified under that section. 

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