hi I passed group 1 of ipcc and will be sitting for grup 2 on may 14......my query is that I am really confused from which book I should study.... 1.surbhi bansal 2.institute study mat... some people are saying if u study from the former u will get less marks as compared to study mat.....

I'M INTO MY SECOND YEAR OF ARTICLESHIP I NO MORE WANT TO CONTINUE MY CA FOR PERSONAL REASON CAN I CONTINUE MY CA IN FUTURE AFTER 4-5 YEARS? WILL MY ONE YEAR OF ARTICLESHIP BE CONSIDERED THEN?

what is the step of finalisation of P&L & B/S

1.How to verify LC devolvement and BG invoked.
2.A company has working capital limits from different banks. Then how to verify whether the company has utilized for business activity or for capital expenditure.

what is an assertion level of risk in risk of material misstatment ??? kindly explain with examples

Iam a chartered accountant having 3 years expereince in Indirect Taxation & Accounting. I had a good exposure of Auditing during my article ship. now iam working as a Tax Research analyst in MNC and is desirous of pursuing Certified Internal Auditor (CIA) coupled with CISA. Will these two qualifications yield better positions in Auditing irrespective of the fact that my experience is in Taxation and Accounts (Excludung my Articleship)?

if CA was statutory auditor of ABC co for a.y 12-13 ... now if he is a statutory auditor of ABC co for a.y 13-14 then whether he should issue engagement letter again to co?

a trust has excess of income over expenses. can it claim expenses on purchase of Fixed Asset in its statement?

what will be its position in the same situation in case of more of expenses over income?

or
the answer is to claim expense on FA in both the situation?

what is an assertion level of risk in risk of material misstatment ??? kindly explain with examples

In my company 2 entries are made for payment of interest in EPC A/c as follows,
In EPC A/c
1)Bank interest EPC limits 1,99,525
To. Bank EPC A/c 1,99,525
In CC A/c
2) Bank EPC A/c 1,99,525
To.Bank CC A/c 1,99,525
Why this practice is followed, is it correct?
If yes, then why?