Dear Sirs...
as you all would know... the Standards on Auditing has changed. am a pcc student.. is this change relevant for me? should i buy a guide for these and study the revised SAs??? or is it enough that i study the chapters of auditing which would cover all SAs...???

The DD processing charges paid incase of preparation of Bank Guarantees whose period extends to more than a financial year, whether the onetime DD charges paid should be transferred to prepaid expenses and amortised over the benefit / useful life of the Bank Guarantee ?

Sr, does the applicability of revenue stamp on above 5000 applies to Advance and payment to agent(for disbursing the payment to the 3rd person) also?

If employee has charged TA (like 1800)for traveled in another city for purchasing item of500 . and he is deputed by company. and ta was charged in line with his authorisation. Is it payable or not and what type supporting required if there is no prescribed rule in organisation.

thanks

Purchase for financial year 2010-2011 is 50 lakhs ,closing stock of previous year brought into profit lost statement is 6 lakhs and profit is say 5-6 lakhs(excluding indirect expenses).

Sales say 43 lakhs and closing stock for this year somewhere around 15-25 lakhs.

I am confused regarding purchase part as i have seen too many topics on forum where people suggest even if purchase surpasses the limit audit becomes necessary though sales to be lower than that.

WHile deciding tax audit is it necessary to include gross profit and old stock(of previous year) in purchase for deciding turnover or gross receipts of this year.

As the limit is now 60 lakhs.If some proprietor have purchase of less than 60 lakhs but closing stock and net profit brings the total to above 60 lakhs does it lead to tax audit.

In sense does purchase include closing stock of last year and taxes like vat and profit at 10% on purchase to be part of gross turnover?

DEAR EXPERTS , PLEASE PROVIDE ME THE DETAILS ABOUT HOW TO DO LEDGER SCRUTINY OF ACCOUNTS IN AUDITING?
STATE THE RELEVANT POINTS IN THAT REFERENCE....

XYZ PVT. LTD. IS HAVING A BROUGHT FORWARD P&L OF RS. 4766510 AND EQUITY PREMIUM A/C OF RS. 284000. WHETHER THE CARO IS APPLICABLE TO THE CO.? SALES AND UNSECURED LOAN IS NOT MORE THEN THE SPECIFIED LIMIT.

Sir,

i want to know about "Performance Materiality"

Please Let me Know.

Thanks