Finalisation

This query is : Resolved

ashwin9969@rediffmail.com (Querist)
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21 April 2012 how to finalisation of mufacturing co kindly provide full details how to pick data from tally to finalisation eagerly waiting for ur reply

CA Mahesh Vekariya

CA Mahesh Vekariya (Expert)
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21 April 2012 QUICK STEPS ..

1. VERIFY THE EVIDENCES OF SHARE CAPITAL

2. VERIFY THE SECURED , UNSECURED LOAN

3. FOR UNSECURED LOAN KEEP IN MIND THE SECTION 269SS AND 269T

4. VERIFY THE CREDITORS LEDGER (I.E LEDGER SCRUTINY) AND CREDIT PERIOD AND LONG TIME DUE PENDING

5. VERIFY THE PROVISIONS

6. ASSET:

VERIFY THE FIXED ASSET PURCHASED DURING YEAR AND DEPRECIATION RATE AS PER INCOME TAX AND AS PER COMPANIES ACT.

- VERIFY INVESTMENT
- VERIFY CASH TRANSACTION (KEEP IN MIND SECTION 40(a)(3) OF INCOME TAX) I.E. PAYMENT EXCEEDED RS. 20000/- WHOLE AMOUNT WILL BE DISALLOWED

- DEBTORS VERIFICATION
* LESS THAN 6 MONTHS
* MORE THAN 6 MONTH

- BANK A/C VERIFICATION ...

- IF STOCK AUDITOR IS THERE THAN RECEIVE THE COPY OF STOCK AUDIT

- PREPARE QUANTITATIVE DETAIL OF STOCK PRODUCT WISE

-
PROFIT AND LOSS ACCOUNT

EXPENSES VOUCHING...
INCOME VOUCHING
GROSS PROFIT RATIO CALCULATION
NET PROFIT RATIO CALCULATION

COMPARE RATIOS WITH PREVIOUS YEAR RATIOS..
1. EACH AND EVERY EXPENSE / SALES
2. RAW MATERIAL CONSUMPTION
ETC.

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