Audit QnA [Resolved] - Page No 508

Our company imports raw material from US for which the payment is made in dollar.. And a credit time of 1 month... In order to mitigate the exchange rate the company enters into forwards contract... How Is verify such contacts ? What are items to be verified? Please clarify

sitaraman

This Query has 3 replies

28 August 2009 at 00:35

audit misrepresentations

what is the proceedure to be followed in
case of noticing financial irregularites
during audit of societies under MCSAct
& the illegal use of auditors seal by the mg. committee to stamp the documents without approval.

mohanreddy

This Query has 1 replies

27 August 2009 at 17:05

capital expenditure V/s revenue expenditure

if an enterprise wanted to shift their office building to a new building, and the new building(under construction) was owned by managing director of the enterprise.
My query was whether the enterprise booked this construction expenditure in the enterprise books of accounts(rent is paid by the enterprise) or is there any other treatment for this

saminathan.s

This Query has 2 replies

27 August 2009 at 06:37

FBT

hi,
i have a little problem in capitalizing an asset.during the financial year the company had purchased a mobile phone for Rs.19500 and the amount had been charged through telephone expenses and the company has paid F.B.T for the amount too.what should be done now?

m.s.nageswararao

This Query has 2 replies

26 August 2009 at 20:14

Audit for LIC Agents When his Income Exceeds Rs.10.00 lacs ?

One of my gross commission is Rs.12.00 lacs. When his are to be audited under Section 44AB considered as that he is a professional. LIC itself is doing business , but how we say that he is a professional. Please clarify.

CA CMA NARESH

This Query has 1 replies

26 August 2009 at 16:00

DEFERRED TAX

Sir,

i want to know if dta on losses for previous year is not done.. than in current year what to do....

Avnish Gupta

This Query has 1 replies

26 August 2009 at 12:43

Accounting Standard applicable to SMC

Plaease provide information about non-applicability or exemption from following Certain Accounting standard for Micro,Small & Medium Sized Company.

Is AS-15, As - 18 & AS-22 applicable on SMC.