plz tell me what is the rules of audit
how we audit the a/cs book.
Answers were Sorted based on User's Feedback
Answer / dilip
auditing is the process of finding mistakes in the books of
a/cs. In order to find out these mistakes we simply find out
the accuracy of the entries. i mean searching of the
followings: is there any foundamental mistake in the entry,
any employee intentionally did wrong posting
Any employee did mistakes without no intense?
| Is This Answer Correct ? | 16 Yes | 5 No |
Answer / g.vasudevan
It is true that finding a mistake in entries is Called
AUDITING.It may be Fundamental,may or may not
Intentionaly.Vasu.G.
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / sandeep
Auditing is never be the finding the mistakes in the books
of accounts,
Its a systematic process of checking the accuracy of the
books of accounts, as per the accounting and audit rules.
The final result be, we find the errors or mistakes,
but in the definition its not to be added the word "finding
mistake."
Audit will be conducted by the Certified Accountants, as on
the particular date as mentioned..
Statutory audit should be completed before 30th September.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / amit
For good auditor u required good command on Accounting
standards and Standard On Auditing. Auditing is not only the
process of finding any type of mistake/s u have to justify
the same how the treatment is right or wrong.
| Is This Answer Correct ? | 4 Yes | 0 No |
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Classify the following accounts into Personal Account, Real Account & Nominal Account. Questions Answers 1. Furniture Account 2. Salaries Account 3. Outstanding Wages Account 4. National Trading Co. Ltd’s Account 5. Stationery Account 6. Prepaid Insurance Account 7. Capital Account 8. Interest Account 9. Building Account 10. Purchase Account 11. Cash Account 12. Bank Account 13. Sales Account 14. Commission received in Advance Account 15. Discount Account 16. Drawing Account 17. Loan Account 18. Mysore Store’s Account 19. Repairs to Machinery Account 20. Stock Account 21. Investment Account 22. Loose Tools Account 23. Bangalore Sports Club’s Account 24. Loss of Goods by Fire Account 25. Motor Vans Account 26. International Trader’s Account 27. Goodwill Account 28. Depreciation Account 29. Bad Debts Account 30. Bad Debts Recovered Account 31. Bank Overdraft Account 32. Book Debts Account 33. Purchases Returns Account 34. Sales Returns Account 35. Postage Account 36. Charity Account 37. Carriage Account 38. Rent Account 39. National College’s Account 40. Bills receivable Account 41. Bills Payable Account
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