Audit QnA [Resolved] - Page No 187

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vivek

This Query has 1 replies

24 December 2013 at 10:47

Trust

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?

yesha

This Query has 2 replies

24 December 2013 at 09:33

Risk

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

Anonymous

This Query has 1 replies

23 December 2013 at 17:23

Interest entry in epc a/c

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?

vaishnavi nair

This Query has 3 replies

23 December 2013 at 10:48

Anamoly

what is anamoly?

AshishLimaye

This Query has 1 replies

22 December 2013 at 22:22

Clarification for suspense account

While reconciling it was observed that
In case of one party bills booked on time but not paid for two years. However party not asked for payment for that specific bill.Then can we put that bills in suspense. Other wise rest account is reconciled. if yes should we put in suspense in current year because balance sheet of previous yr is finalized. Let me know accounting treatment. Also let me know if there is any other alternative accounting treatment

ganesh

This Query has 1 replies

22 December 2013 at 18:04

Tds for sub contract

hi Am running private limited company i.e painting contracting company. 1. we taking home painting work contract from the customers and give the sub contract to to paint worker by leasing our profit. is required to deduct TDS while giving sub contract to workers? if s how should I deduct? Pls help me to resolving this problem?

Anonymous

This Query has 1 replies

22 December 2013 at 18:00