hi good morning every one am a article student now am doing statutory audit of a company now my query is interest on fixed deposits on what basis they have to accounted the interest amount on every month and at the end of the year, actually they are accounted on receipt basis it means whenever the FD withdrawn that time only they were accounting the interest as well as principle, but my argument is as per AS9 revenue recognition if it is interest they have to accounted on accrual basis only right.. please help me in this regard


thank u
Ram

Dear Experts,

can someone provide me the latest checklist
of the Internal audit of a private manufaturing company

What is the meaning of Accumulated and Cash losses

Please Send me Check List of PVT LTD Company Audit.

Hi,

I wanted to know whether in the case stated below tax audit u/s 44 AB is mandatory or not ??

Mr. X has a trading business with turnover of 50 lakhs. He maintains proper books of a/c. Mr. X wants to file his return of income in ITR-4 form (not in ITR-4S i.e. he is not opting for sec 44AD). He wants to show his Net Profit at 3 Lakhs (which is less than 8% of the turnover). Is Mr. X required to get his books of account audited ??

Is reserve on amalgamation ,revaluation reserve and capital redemption reserve are considered for calculation of net worth of a company.

Hi
My query is, we have one indian company, 2 indian subsidaries and 2 foreign subsidaries. In Financials of Indian subsidaries, do we need to disclose 2 foreign subsidaries, 1 Indian subsidary as related parties as per AS-18. or Is it enough to disclose Holding company itself...,

Dear Experts,

Please confirm whether Cost Audit is applicable on Construction Companies if the net worth of the Company exceeds Rs. 5 crores for the FY 12-13 & 13-14 ?

THE PRIVATE LIMITED COMPANY IS IN THE BUSINESS OF CONSTRUCTION OF APARTMENTS AND WORKS CONTRACT

WHETHER THE PROVIDENT FUND ACT AND ESIC ACT
APPLIES TO THE COMPANY.

PLEASE ANSWER THE QUESTION ITS URGENT

THANKS IN ADVANCE.

can someone provide me the latest checklist
of the statutory audit of a private company