Audit of interest expense on cc

This query is : Resolved

Share Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

16 February 2013 Sir
Please guide me how will i finalize Audit of Interest expense of CC a/c

CA.Sourabh Sethia

CA.Sourabh Sethia (Expert)
Follow

16 February 2013 pls clarify in detail what exactly you want to know ??

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

16 February 2013 I want to know how will i verify that bank has correctly debited Interest to our Cash Credit account

CA.Sourabh Sethia

CA.Sourabh Sethia (Expert)
Follow

16 February 2013 you have to calculate on day to day basis and then you can work out the interest which would be same as that of Bank

you have to take the closing balance of each day and then calculate the interest on that balances

Message likes : 1 times

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
Follow

16 February 2013 1.Go RBI latest circulars first and ascertain whether the interest is correctly calculated on the recent circular rates.

2. Rest of the method of calculations were given by the expert above ( Daily outstanding balance)

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

16 February 2013 Vivek Sir
can u provide me circular or its link for current Financial Year

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

sandhya.v

Amit Bagla

Vidish Bhatt

CA. MOHIT SHARMA

T Ramachandran

Subscribe Now

Audit of interest expense on cc

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Article Assistant

Accountant

CA Final

GST CONSULTANCY