I am doing an audit of an company,in which Some capital assets are purchased form outside India. Invoices are in dollars and euros,while making the payment to the parties the foreign exchange gain or loss arising during payment should be debited or credited to the capital asset na.
Is this treatment right ?
If closing balance as on 31-3-2013 is being seen then closing balance valued as on 31-3-2013 loss or gain should it be debited or credited to capital asset only ?

Why audit of companies are compulsory..?

I hv completed 4 months of my articleship and I am still doing vouching. my senior is just giving me Vouching part and doing rest of d work alone..
what should I do?? is that more than enough time for Vouching or not??

Please Give me detailed information on Employees' contribution to ESI, P.F., and Profession Tax. How to calculate them? What are the tax provisions?

I want to know the last date for filing of cost audit report...
for the FY 2012-13
for the FY 2011-12

Hello Sir
In F.Y 2012-13 one LIC Agent got LIC Commission near about 28 Lacs , I want to ask you it cover U/s 44AB ? how i calculate his commission limit either in turnover basis limit which is 1 Cr. or in Professional Fees limit fees which is 25 Lcas . I think there is no need to do audit U/S 44AB so Just I want to Confirm from experts so please suggest me that Audit is required or not ? and one more If audit is not require then i can file return us 44AD ?

Dear All,

One Private Limited Company got registered on 03/05/2011 but no auditor was appointed till date and hence no statutory audit was performed . I want to ask whether company can now appoint auditor to do statutory audit for the FY 2011-12 & 2012-13 . Also no accounts and Annual return was filled with ROC for the FY 2011-12 and 2012-13 , can company file the same together after completing statutory audit of the company.

Can a partner of a firm upload more than 45 Tax Audit reports and will the site allow or is there any special procedure to be followed.

Dear Sir,

i am working in construction company as a cost accountant, i want to know whether cost audit is compulsory for construction industry. kindly clear my doubt with details

Thanks & Regards,

BALA GANESAN S

Can a trustee can work in their own trust as a lecturer(Educational trust) and get salary. there is one clause in trust deed that no trustee can receive any remuneration. my doubt is that, if we allot some post to them,can they receive any salary?