how to audit a joint venture? what are the important points to focus on?
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Pls helppp ...... regarding joint venture
Replies (3)
FIRST U CHECKED THE JOINT VENTURE AGREEMENT
JOINT VENTURE IS SHORT DURATION BUSINESS, CHECK THE TERM AND CONDITION WHAT TYPES OF GOODS, PROFIT SHARING RATIO OF PARTNERS OF JOINT VENTURE ACCORDING TO DEED,THEN ASSET LIABILITIES , REGARDING CREDITORS DEBTORS AGAINST EACH OTHER
CHECK THE ENTRIES OF BOOKS , EXPENSES ARE BORNE BY PARTNERS OR COMMISSION'S ON SALES OR PURCHASING OF GOODS , CHECK WHETER TH BUSINESS IS COMPLETED IN TIME OR NOT , EXPENSES ARE REALTED TO THAT PERIOD INCOMES ARE WELL RECOGINED OR NOT IN JOINT VENTURES AGREEMENT.
U CAN SEE BELOW FOR AUDIT OF JOINT VENTURE BUSINESS
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