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.

Had I imported two items one is custom duty free and another is with custom duty. Whether I can sell the custom duty free item with the custom duty or not.

1 Answers  

---

What should i give answere when interviewer ask me to tell me about your self ? plz reply

5 Answers   Genpact,

---

What all things are to be done in the internal audit of a company.And is internal audit cumpulsory for all companies??

1 Answers   Reliance,

---

What is Asset Revaluation? and when it is required?

3 Answers   UBS,

---

corporate frauds

2 Answers  

---

Explain the before an audit processes?

0 Answers  

---

what is statutaru audit??

2 Answers  

---

an auditor gave his report and later he found an material misstatement in the financial statements regarding the period for which he gave report.now he is willing to change his opinion.is it possible.

2 Answers  

---

What is the meaning of ADVANCE TAX, TDS Deducted and PREPAID Taxes ?

1 Answers   Shah Enterprises,

---

HOW TO DO LEDGER SCRUTINY?

0 Answers   ABC, Mona, XYZ,

---

What the meaning of Computer Auditing.

3 Answers   emc2,

---

What is difference between management audit and internal audit?

3 Answers  

---