the co is dealing in trade of hardwares and softwares maintaining accounts in tally..they take the stock as per tally..but i think it is not rite as stk inwards also include sales return..so the value of stk will not satisfy the provision of as 2..plz tell me is it ok to take the value of stk as per tally..

My Client has exported some items and discounted Sales Bill and Booked the Difference amount of Invoice Value and Discounted Value as ERD (Exchange Rate Difference). Is it Required to Again Revalue those Discounted Bills at Closing Rate as on 31/3/2011 as per AS 11?

How to Audit of Excise. Which is important things we remember in doing Excise Audit.And what is detailed procedure we are followed for Excise Audit

res. sir,
pls guide me

a person is proprietor of a proprietory concern & karta of a huf oncern

turnover in proprietory concern is 55 lac
turnover in huf concern is 35 Lac

is audit applicable for the huf & proprietory concern ?

Which Balance Sheet Format should we have to use for LLP?
Is it Schdule VI - As we use for Companies or
Is we treat LLP as any other partnership Firm and use Partnership Format?

sir i would like to know that I m working in Automobile industary and our turnover is more than 100 crores immediately last Financial ,is the Cost Audit & Cost Recors certification is applicabe to us, from FY 2011-12
as per the nodification on 2&3 june 2011

hi
Please tell
- is meal coupons(or vouchers e.g. ticket restaurant or sodexu food coupons of 1500) to be included in Rs. 15ooo limit.

- What are the components to be excluded or included, is bonus to be included in limit?

Kindly clarify
have read the act but still not clarified.

Hi Exeperts,

In below case can you suggest best internal control:

Cheques received in the company are entered in cheque register and the same goes to bank for deposit. suppose the person fails to make an entry into register either intentionally or unintentionally how to detect and what controls can be put in place to check that.

WHT R THE MATERIALS REQUIRED TO BE STUDIED WHILE DOING THE AUDIT OF CONSTRUCTION INDUSTRY

in London and bank limited case law for audit(ipcc), the auditor was punished for wrongly reporting the balance sheet as 'full and fair', and was ordered to pay the dividend wrongfully paid.

The primary objective of an auditor being expression of opinion, was the auditor penalized specifically for expression of an incorrect opinion? The assets in the signed balance sheet in this case were overvalued.

In my opinion, overvaluation may be due to fraud or error, and the auditor can not be punished for subsequent detection of fraud or error.

Kindly advise..