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.
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 -
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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
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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
CAclubindia
