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answered on 21-Sep-22 17:11
What is meant by cut throat competition
latest answer
Cut throat - literally means to cut throat. Killer competition! Something like you see between amazon and flipkart.
Krishnan K
CA Inter
★ 5K+
3
436
BCK
Others
answered on 21-Sep-22 17:13
Who is a merchandiser ?
latest answer
Merchandising is any practice which contributes to the sale of products to a retail consumer. Merchandiser is a trader or shopkeeper.
sradha krishna sunil
CA Final
★ 5K+
3
424
Gratuity
Direct Taxation
answered on 21-Sep-22 15:09
Retirement gratuity received by members of defence service is fully exempt. For any others received during service is fully taxable. I am clear with provisions when received at the time of retirement/death. Am I right?
latest answer
you are welcome (â? â?¢â? Ó©â? â?¢â? )â? â?¡
Swetha S
CA Inter
★ 15K+
5
523
INTRODUCTION
Indirect Taxation
answered on 22-Sep-22 12:31
IS GST COMES UNDER CONCURRENT LIST ?
latest answer
Thats why I said it is like that.
Usilla Sandhya
US CMA All
★ 4K+
4
562
Economics for finance (CA inter)
Economics
answered on 21-Sep-22 14:47
What happened to the purchase of materials in illustration 12?
latest answer
Ah, got it. Thanks!
Vijayalakshmi Sekar
CA Inter
★ 5K+
2
607
Estimation of working capital
Financial Management
answered on 21-Sep-22 21:41
What is the difference between total cost method and cash cost method ?
latest answer
Thank you
Sai Yashwanth
CA Final
★ 4K+
4
546
#40 Question for the day (Inter)
Auditing
answered on 22-Sep-22 10:48
Your firm of Chartered Accountants has been appointed as the Auditor of two branches of OBC which are located in the Industrial area. Considering that the location of the branches of bank in industrial area, these would be â??advances oriented branches and audit of advances would require the major attention of the auditors. Advise how would you proceed to obtain evidence in respect of audit of advances.
latest answer
Correct Answer In carrying out audit of advances, the auditor is primarily concerned with obtaining evidence about the following: a. Amounts included in balance sheet in respect of advances are outstanding at the date of the balance sheet. b. Advances represent amount due to the bank. c. Amounts due to the bank are appropriately supported by Loan documents and other documents as applicable to the nature of advances. d. There are no unrecorded advances. e. The stated basis of valuation of advances is appropriate and properly applied, and that the recoverability of advances is recognised in their valuation. f. The advances are disclosed, classified and described in accordance with recognised accounting policies and practices and relevant statutory and regulatory requirements. g. Appropriate provisions towards advances have been made as per the RBI norms, Accounting Standards and generally accepted accounting practices. The auditor can obtain sufficient appropriate audit evidence about advances by study and evaluation of internal controls relating to advances, and by: - examining the validity of the recorded amounts; - examining loan documentation; - reviewing the operation of the accounts; - examining the existence, enforceability and valuation of the security; - checking compliance with RBI norms including appropriate classification and provisioning; and - carrying out appropriate analytical procedures. In carrying out his substantive procedures, the auditor should examine all large advances while other advances may be examined on a sampling basis. The accounts identified to be problem accounts however need to be examined in detail unless the amount involved is insignificant. Advances which are sanctioned during the year or which are adversely commented by RBI inspection team, concurrent auditors, bankâ??s internal inspection, etc. should generally be included in the auditorâ??s review.
Sudha Reddy
CA Final
★ 20K+
1
568
Sales of goods act
Corporate & Other Laws
answered on 21-Sep-22 16:27
In this question what is asking about? Which section defines this portion? Give your suggestion
latest answer
My pleasure man. You can mark best answer if you feel so. Thanks
Nakul Dixit
CA Final
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4
440
Doubt in economics for finance (CA Inter)
Economics
answered on 21-Sep-22 11:16
Why do we use GNPmp for Gross National Disposable Income? Why not GNPfc (considering Disposable income does not include taxes) ?
latest answer
got it sir, thank you!
Vijayalakshmi Sekar
CA Inter
★ 5K+
4
490
Buy - Back Of Securities And Equity Shares With Differential Rights
Accountancy
answered on 21-Sep-22 15:10
Amount to be transferred to Capital Redemption Reserve A/C should be 500
latest answer
Thank you
Harsh Mittal
CA Final
★ 1K+
2
583