1.Assessee working as builder gross turnover is 15L.
OR
2.Assessee is working as Interior Designer turnover 15L.

Wheather tax audit is applicable in both the cases under professional catagery or only in case no 2?
If the assessee not having professional qualification, can he decide on in which catagery to fall in?

in stat audit when we have to complete audit in very little time than what we have to do to complete the work in that time.What points we can skip?

Sir,

An existing company ( 10 yrs)has collected share application money in the current year.
(Other info: till now, the no. of shares to be allotted is not decided/ pending)

1)Should the Share Application money be construed as potential equity shares?

And consequently,should Diluted EPS be shown after giving effect to the adjustment

2) Does weighted average needs to be applied for calculating Diluted EPS?

Sir can u please explain what is risk based audit approach?
is it different from normal audit approach?

wether accounting standards are applicable to charitable trust

what is the meaning of clearing &? forwarding charges

Sir,

"Indirect Method" presentation of CFS.In cash flow statement " Direct taxes paid during the yr" should be disclosed.

1)Will the TDS Certificates received by the company disclosed as " Direct Taxes paid" in the Cash flow statement?
Plz tell me where it forms part of, in a Cash Flow Statement.

2) Can it (TDS certificates) be construed as Cash flows

hii
the co.appointed all the employee new as on 1.04.2004 n co. is listed co.
my question is whether co.has to go for acctury valuation for 2007-08 financial year,bcoz co.has not created any provision this year just has paid rs7000 to one employee who has left the firm
is it amount to non compliance of as15 n require qualification?

Hi mates,
this company i audit maintains a trust for the gratuity fund with LIC,can anyone pls brief me up on all the accounting entries to be passed while making:
1)annual payment to the fund
2)provision for gratuity payment
3)interest on gratuity fund(recvd)
4)insurance premium for gratuity
5)payment of Gratuity

i found out the following account heads in the tally prog. relating to gratuity
Insurance Premium gratuity, SBI gratuity(bank account), LIC of India, Interest on gratuity LIC deposit,SBI(main bank a/c),gratuity

hi evvery body,
please answer the following with reasons

a company imported machinery from outside india, and the payment has been made by the banker of the company on producing the documents and there is no current liability regarding the transaction, but at the end of the year there are some outstanding LCs(in foreign currency) which were shown in contingent liability.

According to AS 11 we should not reinstate the asset for currency fluctuations, but asper the companies act
wht are the entries to be passed if to be reinstated
the asset should be reinstated

what is the course of action in this case please advise with reasons.