ACCOUNTANT’S REPORT ON COMPILATION OF
UNAUDITED FINANCIAL STATEMENTS


On the basis of the accounting records and other information and explanation provided to us, we have compiled the unaudited balance sheet of “Mr. XYZ” as at 31st March, XXX and the related profit and loss for the period then ended.

“Mr. XYZ” is responsible for –

(a) Completeness and accuracy of the underlying data and complete disclosure of all material and relevant information to the accountant.
(b) Maintaining adequate accounting and other records and internal controls and selecting and applying appropriate accounting policies.
(c) Preparation and presentations of financial statements in accordance with the applicable laws and regulations, if any.
(d) Establishing controls to safeguard the assets of the entity and preventing and detecting frauds or other irregularities.
(e) Establishing controls for ensuring that the activities of the entity are carried out in accordance with the applicable laws and regulations and preventing and detecting any non-compliance.

The compilation engagement was carried out by us in accordance with the Standard on Related Services (SRS) 4410, “Engagements to Compile Financial Information”, issued by the ICAI.

The balance sheet and the profit and loss account are in agreement with the books of account. We have not audited or reviewed these financial statements and accordingly express no opinion thereon.


IS THE ABOVE FORMAT “CORRECT AND ACCURATE”???

Dear Sir,
The company pays maintenance charges to mall owner which includes electricity charges, water Bill, AC Charges, Cam Charges etc. Whether TDS on contract needs to be deducted?. If yes, then on whole amount(excluding service tax) or only on AC Charges and Cam Charges?

Thank You

Dear professionals,
my employer wants to write off fixed assets in FY 2016-17 but the assets have remaining life 5Years.
what is the procedure, how we can write off?
can we charge that amount to P&L account?
please guide me.
Thank you.

Hello there. .

Please tell ....what will be accounting of new exide batteries purchased for old invertor and scrap batteries were adjusted against it's payment..

Do i need to capitalise it??

Priya

Sir please help! I've been trying to fill my form online but my login id and password are showing invalid. But infact they are correct!! Can somebody please help me how to fill my exam form online now?? What should i do next??

MY QUERY IS

AT THE TIME OF SALARY PASSING ENTRY
SALARY..........DR
TO ESI(EMPLEE)
TO PF(EMPLOYEE)
TO CASH /BANK

AT THE TIME OF ESI /PF BANK PAYMENT

ESI /PF ---------------------- DR
TO BANK----------------------------CR

MY PROBLEM IS ESI/PF PAYMENT INCLUDING EMPLOYER CONTRIBUTION HOW CAN WE MAKE ENTRY OF EMPLOYER CONTRIBUTION UNDER TALLY AND ADJEST TO PAYMENT

complete journal entry of salary expense with an example

How to register a consortium in India

Dear Sir/Madam,

An assessee has both salary income & business income. He also has personal assets like Gold, Investments etc which is UNRELATED to both his salary and business income..
He is planning to apply for a home loan..
Should he prepare a personal balance sheet showing gold investments etc?
or Should he prepare a business balance sheet?
or Should he merge both business & personal balance sheet?

Should Final Accounts be prepared in Firm's name or in the proprietor's name??

A transaction 'He Pays by Cheque for Cash Purchase'.How can i treat the transaction whether it is a Bank transaction or a CashOne?Kindly help me to solve it