Answer Posted / h.r. sreepada bhagi

Revenues (Incomes) and Expenses have to be matched every
Accounting year and hence under Accrual Concept of
Accounting, All incomes and expenses relating to current
year should be booked in the current year only. No expense
relating the current accounting should be postponed to next
accounting year deliberately. However, for any reason an
expense has not been booked in a previous accounting year,
that can be booked in the current year under Prior Period
Expenses with proper narration.

Proof - Read matching Concept & Accrual Concept under
Accounting Principles.

However, if accounts are maintained on Cash basis by an
individual or a proprietorship concern, the expenses will be
booked when it is paid, instead of when it is booked. This
is not in accordance with teh Concepts mentioned above.

A company charity (gross income

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is replacement of DVD writer come under fixed assets. I think that it cannot increase earning capacity or it cannot any separate identity.please clarify me

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HOW TO DO LEDGER SCRUTINY?

2967

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can external audit be seen as merely an overhead cost adding no value to the orgnisation

3384

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What are the reasons for getting audited?

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Why there is no opening balance for Profit and Loss Account?Refer me Detailed explanation. Thank you.

1488

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Discuss the factors to be considered by the auditor in order to determine an audit strategy.

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Would you consider alternative vacancies if so which:

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Define vouching?

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Why does a systems auditor need to use professional judgement when selecting audit procedures?

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Explain about cross functional audits?

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what percent of wages calculate from sales of a firm (registered under manufacturing of machinery spares) sales (appr)- RS.10000000/-

2007

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May deduct TDS Froma reseller ?

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for how much loan a borrower has to submit QIS

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What are objectives of internal audit?

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