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Vouching and verification for PCC

IPCC 1611 views 7 replies

For vouching and verification topics in auditing for pcc.     How many  points are we expected to write in the examination for 5 marks. i dont wanna spent my time writing more than what is expected. 

 

and same for the special audit topics too. how many points are we  expected to write.

Replies (7)

u need to write only 6 points

VOUCHING

1.type of  voucher -

2.verify the accounting head -

3.list of supportive documents -

4.computation -

5.books of accouts to examine -

6.accounting policy -

-----------------------------------------------------------------------------------------------------------------------------------------

VERIFICATION

1.Existence -

2.recors -

3.right of ownership -

4.valuation -

5.presentation and disclosure -

6.special remarks -

 

& formate must be table

tkhanks sanju . but can u give  a example for  vouching and verification. like for R& D EXP how w e have to do and For GOOD will in verification and thanks in advance

u need to write onl

y 6 points

VOUCHING of research and development exp.

1.type of  voucher -   Bank/cash payment voucher
2.verify the accounting head -  

Dr. reserch phase exp. A/C.

Dr. development phase exp.

Cr. Bank/cash

3.list of supportive documents -

reserch phase exp. supportive development exp.

details - as salary of scientists ,technicians.and feasibility study report

4.computation - segregate the reserch phase from development phase
5.books of accouts to examine - ledger,cashbook,bankbook
6.accounting policy -

according to AS-26,reserch phase exp. shuld be

debited to profit and loss acc. and development phase exp.

can be treasted as intengible assets if they qulify for the

requirements of AS-26.

    bst of luck

for the special audit topics too. how many points are we expected to write.

 

and thanks for he previous one

v - voucher - check the voucher details like date, stamp etc...

o - occourence - check the occourence is of the relevent year itself...

u - under specific authority - chk the transaction has incured under specific authority (sign)etc...

c - capital - chk wether there is proper distinguish between capital and revenue....

h - has been recorded properly in the books of accounts

-------------------------------------------------------------------------------------

v - valuation - of the assests as per the relevent AS eg F/A = AS PER as 10 and depreciation as per AS 6

e - existance - the assest is in existance to chk by way of physical verification certificate from magmt etc...

r - right - assets are the right of the company

i - interest - ie any charge on the asset than that shoul be disclosed

f - disclousure requirements are followed properly

y - Yo !!!

thnx


 


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