Tag: afs

e-payment The Reserve Bank of India (RBI) has come out with the framework for facilitating small-value digital payments in offline mode, a move that would promote digital payments in semi-urban and rural areas. Offline E-payments Offline digital payment does not require Internet or telecom connectivity. Such payments can be carried out face-to-face (proximity mode) using … Continue reading AFS 2018 solutions

The Combined Finance and Revenue Accounts of the Centraland State Governments in India Article 18 The Comptroller and Auditor-General of India submits to thePresident a Financial Statement incorporating a summary of the accounts of the CentralGovernment and of all the States for the last preceding financial year. This GeneralFinancial Statement which is called the Combined … Continue reading Accounts code volume 1 continued

Article 20. The accounts of Government are based in the main on the single entrysystem and the double entry system is applied only in regard to the maintenance of a setof technical accounts called the Journal and Ledger. The main purpose of the Journal andLedger is to bring out by a scientific method the balances … Continue reading Journal and Ledger

Article 15. The general outlines of the system of accounts of the Central and StateGovernments, briefly stated, are as follows :—(a) All receipts in India on behalf of the Central and State Governments are paidinto a Treasury or the Bank. Except as provided in clause (b) below, the initial accountsof such receipts are maintained at … Continue reading General Outlines of the System of Accounts

GENERAL OUTLINES OF THE SYSTEM OF ACCOUNTS Transactions of other Governments in State Treasuries Article 13 Cash balances held in a State Treasury form part of the ConsolidatedFund, the Contingency Fund (if one has been established) and the Public Account of theState to which the Treasury belongs. The Treasury Rules of each State Governmentissued under … Continue reading Accounts Code Volume I