Audit QnA [Resolved] - Page No 509

All Resolved Open

CA Sumit Arora

This Query has 2 replies

25 August 2009 at 17:06

Negative Cash Balance

Wht is the implication of negative cash balance on any day on the financial statements and as an auditor what should be the recommendation to the client?

Hemal Bhatt

This Query has 1 replies

23 August 2009 at 12:46

Clause 17A of form no. 3CD mentions about inadmissibility of interest u/s 23 payable to SMEs. But the same can be claimed u/s 43B of the income tax act, 1961. So what is the relevance of introducing this new clause?
Is there any specific requirement to introduce clause 17A in form 3CD?

Aditya Maheshwari

This Query has 3 replies

22 August 2009 at 21:26

Pre Incorporation Expenses

There is a company where the name was approved by the ROC and the director of the company incurred expenses in the approved name but before the date of incorporation of the company. What will be the treatment of the said expenses? Show we debit in the profit & loss a/c or be capitalised as goodwill or some other place.

himanshu vyas

This Query has 2 replies

22 August 2009 at 19:34

nature of

IF A PARTY GAVE ONE CHQ.FOR RS.100000 AND DEPOSITED IN BANK AND BOUNCED. WHILE PASSING THE ENTRIES RECIPT OF CHQ. IS BANK A/C DEBIT & PARTY A/C CREDITED.

WHILE CHQ.BOUNCED SHALL I PASS THE PAYMENT ENTRY OR JOURNAL VOUCHER KINDLY CLARIFY

THANKS®ARDS

Joseph Kuruvilla

This Query has 5 replies

22 August 2009 at 16:08

Deferred Tax Liability

My company does not expect to be profitable for two to three years after 31.03 09.

For the timing difference in depreciation should we provide deferred tax liability?

Or consider such liabilty when we are sure of making profits?

zamir

This Query has 3 replies

22 August 2009 at 12:54

Share Premium

Can we adjust Misc Expenditure(Preliminary Exp) with sahre premium.

Sudheer kumar chinta

This Query has 1 replies

21 August 2009 at 18:58

Internal Audit

Can I have any guidance notes on internal audit and internal controls of a company engaged in dairy farm and selling dairy products?

Radhika

This Query has 1 replies

21 August 2009 at 16:56

Caro Point X

in CARO Point 10 What is the meaning of Cash Loss what items added in loss eg Dep & any othe please give an example.

thanks

nair damu

This Query has 3 replies

20 August 2009 at 21:59

TDS - surcharge

Pl let me know whether surcharge and edu. cess on TDS deduction is abolished w.e.f. 1-10-09 or immediate effect i.e. w.e.f 1.4.2009 ?

example sec 194c - tds rate is/was 2% + 3% edu cess = total 2.06%. This was old rate . does it continue till 30/9/09 ?