In a pvt. ltd. co. during the year 08 - 09 Rs. 80000/- Cash received from Party was stolen , out of building premises.FIR files in local police station. so this exp. allowed in enpenditure or not.

Can any one please tell me , that if the turnover in the subsequent year is less than 40 lakhs , even then tax audit is required or not?

Hi,

ICAI member with part time COP can not do Attest function.

What is covered under attest function?

Member with part time COP what work he can do and what are the works he can still continue to do?

Hi

Can anyone send me format of internal audit report for processes review audit.

Hey, i know the difference of capitalizaing it out and expensing it out. and i also dont require which software to be capitalized.

Im in query whether is it compulsorily required to capitalize softwares (not talking of huge softwares such as SAP/ERP implementation, they are ofcourse capitalised)or note as said earlier will suffice..

Is it compulsory that software licenses purchased needs to be capitalized. If the company discloses in the notes that software licences are written off in the year of purchase, will this note suffice ?

Whether there is any time limit for the appointment of first auditor before the 1st AGM of the Pvt Ltd or Public Ltd Co.

1- M/s A Pvt Ltd wants to distribute dividend to its foreign holding company which hold 99% shares of A pvt Ltd. how cud pvt company dividend and how much reserve sud b created by the company.

2- Can A pvt Ltd distribute 100% of its profit to foreign holding company?

Dear sir,
As per AS-2,freight charges paid on purchase of fabric should include in the cost of purchases(i.e) whatever may incurred to bring the goods to the godown should included in the cost of purchases.
but in my client place,freight charges are grouped under direct expenses..clearship and forwarding under purchase a/c(tally software)..
whether will it reveal the correct value of inventory in balance sheet? becoz direct expenses is not affecting the inventory valuation..
my opinion is,they should group freight charges under purchase a/c..is it right?



Thanks in Adv,
A.Rekha

sir,
pls may i know that Can a Internal Auditor act as a Cost Auditor in the same financial year in a company?