Top Audit Interview Questions :: ALLInterview.com http://www.allinterview.com Top Audit Interview Questions en-us when Deferred Tax Asset & Deferred tax liability arises? http://www.allinterview.com/showanswers/77827.html deferred tax means it is a timing difference between the companies and income tax act. Deferred tax liability arise when the It act Depreciation higher than the companies act depreciation. Deferred tax Asset arise when the It act Deprecia What is the Difference between Current Assets and Fixed Assets and h http://www.allinterview.com/showanswers/1176.html The difference between current assets and fixed assets as follows: Current assets are flexible in nature, easy to encashable and floting money to company whereas Fixed assets are Fixed in nature in other words non-moving assets, not easy what is the difference between cheque and draft http://www.allinterview.com/showanswers/66079.html the bank takes a advance from the person who issues adraft but at the time of check the bank didnt take amount to issue a cheque.the cheque may be bounce when the balance is nill in issuer account . What is tax audit http://www.allinterview.com/showanswers/68077.html Every person who has turnover above 40 lacs is foll under audit compulsury . This is the tax audit . In tax audit every transaction is checked carefuly relating tax and or that transaction comes under any Act. what is audit http://www.allinterview.com/showanswers/58455.html an audit is the independent examination of financial information of an entity,whether profit oriented or not,and irrespective of its size or legal form,when such an examination is conducted to express an opinion thereon. I MAKE MIS FOR MY COMPANY. INTERVIEWER ASKED ME WHAT UR ROLL IN MIS. http://www.allinterview.com/showanswers/62480.html I COULDNT GIVE HIM SATISFACTORY ANSWER. HOW WILL U HANDLE ACCOUNTS RECEIVABLE? http://www.allinterview.com/showanswers/62481.html while doing accounts or preparing a/cs books for a co., we have to take Accoutns REceivable as a Receipt, it should be shown in the receipt side in the cash book. audit programme http://www.allinterview.com/showanswers/36578.html Audit programme represents an outline of procedures to be followed to support an opinion on financial staements. It is the auditor's plan of action. In other words, it provides a plan of the work of examination and a set of audit procedure What is a cheque http://www.allinterview.com/showanswers/66078.html a bill of exchange drawn on a specified banker and payable on demand DEFINE YOURSELF http://www.allinterview.com/showanswers/62176.html my self i am ram,my hometown is guntur ,i completed MBA in s.v university at TIRUPATHI,i did my project in ECIL in HYD, tanq sir, what is a turn over ratio? http://www.allinterview.com/showanswers/60617.html if if it is inventory turnover ratio Turnover/Average inventory if it is debtors turnover ratio, turnover/debtors what do you mean acculmated depreciation? http://www.allinterview.com/showanswers/72625.html Acculmated depreciation is the yearly depricition on a particular asset. what is meant by vouching? http://www.allinterview.com/showanswers/9152.html Checking of Accounting record with the documentery evidence. cost audit system http://www.allinterview.com/showanswers/36581.html COST AUDIT IS THE AUDIT OF COST RECORDQS. IT IS AN AUDIT PROCESS FOR VERIFICATION OF THE COST OF MANUFACTURE OR PRODUCTIONON ON THE BASIS OF ACCS REGARDING UTILISATION OF MATERIAL,LABOUR ETC. what is inventory and how can manage the inventory. what is ledger an http://www.allinterview.com/showanswers/1172.html the good for the purpose of sale remain at the end of the financial period is called inventory. ledger is book in accounting term were all same accounting head realted transactions are recoded for calculating there balance .