please tell me how to do finalisation of audit and how to do leder scrutiny of profit and loss items like freight charges etc

A co is a subsideary co of B Co and B co is a substantial interest in C Co.
If A co sum transaction with C Co.
Than A Co & C Co is a related party & this transaction disclosed in notes to accounts.


prashant kumar

Hi, I'm Preparing for CWA Stage-2 June 2010 Exam Under 2002 old Syllabus. In the Previous Attempt I have scored very less marks in the subject "Auditing". Please Suggest me how to improve this subject.

how to work out value of closing finished stock at the time of finalisation.PRACTICALLY we know mkt price but how to compute cost price whn diffrent raw material is using to produce product & this different raw material having diffrent quantity units i.e some in kgs ,mt,liters for same product.

thanx

A Chartered Accountant in practice as well as firm in practice, shall maintain a record of audit assignment accepted by him in "PRESCRIBED MANNER"

My query is that, any format given by institute for maintenance of these records....?

a listed company has apointed xyz & co CA for FY 2009-10. The auditor does not have a peer review certificate so the directors claimed that as per the notification by ICAI the auditor is not qualified for the audit and appointed ABC & Co. as their new Statutory auditor by filling casual vacany. Is the contention of BOD correct?

Is it possible to Divide the rent agreement in to 2 parts i.e., Saperate Agreement of Maintanance and Rental Agreeemnt
Ex. Rent Agreement for Rs. 10000/- PM and Maintanance is for Rs. 3000/- PM,
Insted of Rs. 13000/- PM as Rent

I want to know that whether a member of ICAI holding full-time CoP and being a partner in CA Firm can be appointed as Statutory Auditor in his individual capacity by a company in its Annual General Meeting.

What share warrants mean? Is it transferrable? Where this should be disclosed in balance sheet?

Please say me for following:

My firm is a partnership firm.the partners of the firm take salary and also withdraw amount in the way of Credit Card Expenses & Transferd to saving ac.while finalisation their capital is debit bal.

While filing their personal Income tax return can I prepair their Personal Ac Can i Pass all Dr. to their Presonal Expenses & Credit Firm ac.

Eg: Credit Card:(Shopping Done)
Drawings Dr
Firm Cr
is it right way of accounting.

The partners have purchased car,made some fds,Mutual funds. This should be shown in their personal ac the purchas are in their Individual name.


Please guild me so that i can maintain their Personal Ac in Tally or should not maintain

Regards