Vouching
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 December 2014
How vouch the export sale made?
05 December 2014
check the documents submitted to customs authoirty, bill of exports, cha bill and check the treatment of foriegn currency receievd.
Message likes :
1 times
Ganeshbabu K
(Expert)
05 December 2014
1)Check quantity in invoice with packing list
2)Verify whether price charged on invoice is as per approved price list.
3)Verify the cases where discount is given and verify whether it is properly authorized by competent person
4)Check whether revenue recognised properly as per AS9
5)prepare workings for FOB value of exports eliminating fright and insurance where ever includes to disclose in foreign exchange earnings note.
6)identify export sales made to related parties for disclosure of related party transactions as per AS18
7)prepare product wise details of export sales for disclosure as per revised schedule VI
8)Depending on your nature of business we may extend audit procedures to the extent it is required
Concentrate more on pricing and revenue recognition...
.
2)Verify whether price charged on invoice is as per approved price list.
3)Verify the cases where discount is given and verify whether it is properly authorized by competent person
4)Check whether revenue recognised properly as per AS9
5)prepare workings for FOB value of exports eliminating fright and insurance where ever includes to disclose in foreign exchange earnings note.
6)identify export sales made to related parties for disclosure of related party transactions as per AS18
7)prepare product wise details of export sales for disclosure as per revised schedule VI
8)Depending on your nature of business we may extend audit procedures to the extent it is required
Concentrate more on pricing and revenue recognition...
.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Nursery business
- Tax on Amount transferred in HUF Account
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- TDS on Dashcam rent and allied services
- ETDS return q4 25-26
- Intimation under section 245
- Section 269ST applicability for capital introduced by partner to his partnership firm
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- Import Order Cancelled.
- Working on Gold wastage during Melting of old gold jewellery
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
