Hi Friends,
Help me on my querry :

one company is incorporated on 13th March 2007, the accounting year suppose to be till 31st March 2008 or 30th June 2008, (in case extended to 15 months) but the directors in board meeting have extended the accounting period till 30th August 2008.

Whether accounting period can be extended in board meeting beyond 15 months? If not what is the procedure to extend the Accounting period?

Annual filing for that perticular year with ROC has done.

Regards,

Dipti Parab.

Can any one explain in detail regarding reconciliation of bank accounts

Dear all,
Like in Income Tax Act,if a turnover of business exceeds the specified limit mentioned in the sec-44AB, similarly is there any provision or criteria for companies to get audit?or else every company has to go for audit irrespective whether it is pvt or public ltd?

We are planning to write off some creditors balance from our books of accounts.

While passing entry for the same which account we have to credit

ie Sundy Creditors A/C Dr

To ?

recently i appointed as Internal Auditor of a Real Estate Company. they started building flat in 2010 and booking is going on but till now they are not intrested in charging and paying service tax. they simply say, matter is still in court.
i advice many times. what u say?

second question is..... what are audit programe in case of these type of company?

In ceiling of audit its mentioned that if the partner is a full time employee else where he doesnt get any audits to do.But if he is an employee else where wont he fall under the disqualifications u/s 226 ?and the firm wil get disqualified as an auditor?please advice

If an auditor is appointed by the BOD and if the auditor refuses to be the auditor then who can appoint the next auditor in his place?The shareholders or the central government?since this is not the case of casual vacancy and its the failure to appoint the auditor according to complilation and me the auditor can be appointed by the central gvt..But as per the module as per a similar case study the shareholders can appoint the next auditor.Please suggest which is the correct answer

As per companies act the ceiling of audit is 20 companies per person.As per council its 30 companies. Then what are the students supposed to answer if related question is asked as per any case law?as per companies Act or as per the c.a council?

Which one has better scope between internal audit and statutory audit?

Dear Sir / Mam,
Please tell me how to make entry in tally for the following Transactions:

1. In the previous year balance sheet they have shown some bank balances for which the bank accounts have been closed in the previous year itself. But still this amount is carry forwarded. Please tell me how to close this bank accounts this year.

2. In the previous year b/s they have shown some bank Credit balances as Bank loan, but actually it is not bank loan it is stale cheques which is still there with party since in that account there was no balances. Shall we treat it has other liabilities. Please tell me how to make entry for this.

Please do the needful
Thanks & Regards,
Don Bosco