Hi,

An unlisted public Company is mainly engaged in seed, agriculture and nursery business. It also produces fertilizers which contributes to the total turnover of the Company to the extent of 22 lac only. But the aggregate value of the net worth of the Company exceeds 5 Crores and total turnover of the Company including other SEGMENTS (agriculture, seed and nursery business) exceeds 20 Crores.

As per my understanding of Rule 3 of the Cost Accounting Records (Fertilizer Industry) Rules, 2011; the said rule is applicable to Company. Am I right?

If yes, then whether the company should maintain cost records for other segments also apart from fertilizers? Is there any provision under which the Company can get an exemption from cost compliance? Please help before it becomes urgent from important.

Thanks.

A building Contractor Whose purchase of Material is above Rs.80,00,000/- and there are no sales during this year. WIP is above 1 corer. Tax Audit Applicable to this proprietor firm

Dear Sir,

Can a Full Time Employed CA can become a Partner in CA Partnership Firm.If yes,then Explain How,and if not then WHY not?

Sir,

Iam doing an Audit work of a Company For the Financial year 2003-04 & 2004-05. Now, I Want to know the applicability of Revised Schedule VI format for those years.Is it necessary to apply revised format for preparing Audited Financial statements of previous years.

Can a member be an Tax Auditor of a company being a Sole Proprietor and also be a Internal Auditor of the same company as a Partner of the Firm doing Internal Audit.

Like: A is a sole proprietor and a partner in Firm ABC too. He is doing Tax audit of XYZ Company. The XYZ company's internal audit is done by Firm ABC.

Is that Legal as per ICAI rules?

Dear Everyone,

We have a partnership business (manufacturing) in Mumbai. We were under impression that Turnover threshold for Tax audit has been raised from 60Lacs to 1Cr. In financial year 12-13 we did sales of 62Lacs.

But our CA has informed us that we will have to do sales tax audit as its threshold is 60Lacs. Only income tax audit limit is 1Cr.

We are confused. Do we have to get sales tax audit done ?

if a firm take any auditor ship of the company then can partner wife take the retainership for book keeping or not

Hello sir,,

I am getting a job in a bank for concuraudit purpose I dont have any idea about this

Please send me the process & how it works I dont know tally is tally necessary in concur audit... Please do let me know as soon as possible

Hi.,

I would like to know .. Is it Physical Stock Verification Audit is it Part of Accounting Standard 2 in Public Limited Company, If Management is Following All the norm & Application.

Kindly verify.

regards in Advance,
Prashant

CA is appointed as auditor in a company in which his partner or wife is having substantial interest.
Can he express his opinion on such financial statement by disclosing his interest in his report? or he is totally not allowed to express his opinion?