Answer / harsha

cost audit: It is the detailed checking of the costing system, technique and accounts to verify their correctness and to ensure adherence to the objective of cost accountancy.

management audit:It is a comprehensive and complete examination of all managerial functions and the effective use of their total resources in achieving the goals of an organization.

Answer / v p narasimhan

Evey company will have its own accounting policy including
for costing ! The ways & means to be ascertained. Basic
things to arrive cost & cost sheet to be analyzed & to be
audited whether its in line with the policy & accounting
standard. For example a Landed Cost for imported
materials/components will be arrived as follows: viz., C I F
+local transport + loading & unloading charges + exchange
Loss. in fact erection & installation charges also to be
considered in the cost sheet.In case of Manufacturing
company a "Traveling Job Card/Cost" which gives various step
by step & stages the total expenses incurred to make a
complete product to be considered & audited. Cost sheet
which gives workings for all the above is the base one for
audit.

Every firms has audit firms to audit their accounts but who will audit an auditing firm?

4 Answers   Ernst Young,

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what is the accounting

7 Answers  

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my friend paid Rs.6.00 Lakhs go a government office through a demand draft for a particualr permission/license. But actual fee payable by is Rs.2.00 Lakhs. Peviously submitted demand draft for Rs.6.00 Lakhs has not been adjusted into governmet account. he went to govt.office and requested to return the 6.00 Lakhs demand draft and assured that he wll pay th actual fee of 2.00 Lakhs. Can he get back the previously submitted Rs.6.00 Lakhs demand draft duly paying the actual fee of 2.00 Lakhs

1 Answers   JP Group,

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what ic the definition of cash in bank???

7 Answers  

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Where do you see yourself in 5 years time?

2 Answers   Ernst Young,

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How does the internal audit differ from an external audit?

0 Answers  

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Talk about recent developments in the audit field. How do you feel these have effected public sector auditing?

0 Answers   Ernst Young,

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what was ur role in team?

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what is sales tax

1 Answers  

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when Deferred Tax Asset & Deferred tax liability arises?

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which of the following types of risks assumes an absence of compensating controls in the area being reviewed?

1 Answers  

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What is the difference between amalgamation, absorption, liquidation ? Why realisation account is being prepared ?

1 Answers  

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