Audit paper May 2011

SAME HERE....

Originally posted by : Reena
	SAME HERE....

 always something unexpected done by icai........

No............ It is not lenghty. and it is very easy paper.

paper was good but allocation of marks is not good

I have Seen Paper..First of All dont think it was Easy Paper..Direct Questions were Asked so dont expect good marks unless you presented the answer very well with reference to Respective SA and AS.

It look easy upfront but very difficult to score in this kind of Paper..

no it waz not lengthy...it was quite easy...may b i got xemption in it...i completed it before 15 mins....but it was disappointed me dat ques waz not practical nd not frm Company audit....2day i felt dat m givin bcom's paper...hehehehe

easy n nt so lengthy.....:)

hey guys plz tell me one thing im q no. 5(b) all u have discussed on CINEMA or cinema hall. plz share

Answer of 5 B

 1. Verify

             That entrance to the cinema hall is only through printed tickets;

            Tickeets are serially numbered and bound into books;

            That the number of tickets issues for each show and class are different;

2. If tickets are issues though computer-audit the system to ensure its reliabilityd and authenticity of data generated by it.

3. system should provide that at the end of each show a proper statement should be preapred and cash coolected be tallied.

4. Cash collected is deposited in banks partly on the same day and rest on the next day- depending upon the banking facility available.

5. vouch recoveries of advertisment expenses etc from fil distributors.

6. vouch payment of film hire with reference to agreement with distributor or producer.

7. confirm that depreciation on machinery and furniture has been charge at appropriate rates.

Answer of 5 B

 1. Verify

             That entrance to the cinema hall is only through printed tickets;

            Tickeets are serially numbered and bound into books;

            That the number of tickets issues for each show and class are different;

2. If tickets are issues though computer-audit the system to ensure its reliabilityd and authenticity of data generated by it.

3. system should provide that at the end of each show a proper statement should be preapred and cash coolected be tallied.

4. Cash collected is deposited in banks partly on the same day and rest on the next day- depending upon the banking facility available.

5. vouch recoveries of advertisment expenses etc from fil distributors.

6. vouch payment of film hire with reference to agreement with distributor or producer.

7. confirm that depreciation on machinery and furniture has been charge at appropriate rates.

ALWAYS NEW TREND ISSUED BY ICAI---- 

Guys I have appeared PCE 4 times till now. I realised in past 3 attempts that practical approach is the most important path here.. 2day's Audit paper turned out to be an impractical nightmare.. I hope I won't lose my score due to aggregate**********************

hey can any 1 tel the answer for 2(b)