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V P Narasimhan (Accounts Manager) 08 November 2018
It depends upon the nature of industry. Suppose if it;s a manufacturing unit you have to start from procurementof materials which includes Purchase activity to Product Completion stage viz., including Costing. It the Organisation has more & more Departments viz., Vendor development, Marketing, HR, Finance etc., each area has to be focused with the internation transactions ofeach depts.
B.R.Vinod kumar (Accounts Manager) 13 November 2018
Check list for before audit :
1. check the sales and purchase entry updated from april to march 31st..
2. Bank Reconciliation all banks.
3. cash book updation.
4. then you got Receivable & Payable with aging. , get confirmation from vendore for high value.
5. Prepare the provision entry for march .
6. Close all statutory , month on month. & reconcilie with book vs return
7 . prepare FA register.
8. if your in manufacturing industry , prepare closing stock & semi finished goods also.
i think almost you covered for audit ..
priya verma 24 July 2019
|Originally posted by : Member (Account Deleted)|
|go anywhere rules for accounts same
important is how much concepts of accounts and
incometax clear with u that is infortant
some of good arcticles on internal audit here
just read it understand it and then apply it