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What does 'credit must follow, not precede, actual realization' mean?

Government AccountsCAMPara 17.7

Revenue must not be booked in government accounts until the money is actually received. For example, if a cheque is deposited, the revenue credit should be recorded only after the cheque clears, not at the time of deposit. This prevents inflated revenue figures from unrealized instruments.

Source: CAM Para 17.7

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This answer is for informational purposes only and does not constitute legal advice. Always refer to the original rules and consult competent authorities for official interpretation.