Aditi Iyer
Direct Tax Consultant
[ Scorecard : 61]
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Posted On 09 July 2012 at 17:25
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the accountant of a company absconded with money and books of accounts. how to prepare these accounts and what case laws can be cited in our favour?
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Gaurav Aggarwal
MBA CA Final CMA Final Persuing Mcom
[ Scorecard : 1500]
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Posted On 09 July 2012 at 17:55
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Get a copy of previous year financial first complete opening balance
than request to bank to provide you copy of bank statement
prepare bank book
book all payment / receipts entry (to be trace from bank statement)
book all expenses to whom we paid
receipt from debtor (verify debtor from previous year's financials)
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Gaurav Aggarwal
MBA CA Final CMA Final Persuing Mcom
[ Scorecard : 1500]
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Posted On 09 July 2012 at 18:00
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More on this open a G/L in the name of accountant and booked all untraced entries in his/her account than report to managemet with all untraced entries for action to be taken
Total thanks : 2 times
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Aditi Iyer
Direct Tax Consultant
[ Scorecard : 61]
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Posted On 09 July 2012 at 18:14
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We are the legal consultant. We are not involved with the management
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Ankit
Articles
[ Scorecard : 376]
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Posted On 09 July 2012 at 18:22
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get a copy of the last year return of the company and copy of the audited report and get a copy from the company of the unaudited data or et a copy of the projected balancesheet and profit & loss accounts. or else just go with the accounts departments of the company they may guide u ...
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Aditi Iyer
Direct Tax Consultant
[ Scorecard : 61]
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Posted On 09 July 2012 at 18:24
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the accounts dept wants to know the best way to make the books of accounts
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Ankit
Articles
[ Scorecard : 376]
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Posted On 09 July 2012 at 18:28
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then it is the best way to approach to the income tax department for the copy of the return as well as audited balancesheets and profit and loss and then go for the projected data of the company regarding the six monthly or quarterly .......and other and if not then go for the back of the company data ....it is not possible that company is not having any back of their data .....
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Anushree
CA final
[ Scorecard : 1430]
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Posted On 09 July 2012 at 18:32
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hey thank u
ankit and gaurav for giving the path but what about cash transaction
how they would be traced??
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Ankit
Articles
[ Scorecard : 376]
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Posted On 09 July 2012 at 18:39
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first of all it is common that company is neither trade in cas transaction as per my knowledge company always deals by cheque ....if in case there are some cas trasactions are made then transaction above rs.5000 must be stapped voucher then go for them if u find the same....if not then just go for petty cash registers ...company deals in cash for only petty cash trasactions ....let 's have a look on the system or the software what so provides .....okkk...
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Ankit
Articles
[ Scorecard : 376]
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Posted On 09 July 2012 at 18:54
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n yeah i will provide u the case laws after some confirmations
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