Question { 10343 }

investigation vs audit

Answer

invetigation means investigate or searching....
it is totally different from audit & accounts,
it doest relates to these two.

but audit means, vouching & comparition of accounts,
finalisation of accoutns, it is very close to accounts,
audit should be done by auditor only

Question { 27070 }

duties of auditor

Answer

The main & important duties of an Auditor are vouching,
vouching is not only for vouchers, it shoul be on cash
book, bank book, contignency & overall, finalisation of
accounts, it starts from trial balance & ends to the
preparation of R & P a/c, finally baslance sheet should be
prepared
the finalisation of audit means, balance sheet should be
prepared for a concerned co.
& the main thing is the auditor should have more patience
for audit, to he should be a good listner.

Question { 4212 }

corporate frauds

Answer

Corporate fraud is a fraud who is working in one co.
whethere it is government or private, big or small.... & he
is making false things to that co. only

Question { 7184 }

what type of questions will be asked in the interviews

Answer

Type of questions int he itnerviews will be varied from co.
to co., the basic questions are 1)they could have asked the
candidte about himself/herself.
then abt his qualification, year of graduation or highest
qualification, abt her wokinf experience, why he/she is
trying to join that particular co., & why they want to
leave the old/where they are workind presently, what is
his/hr present salary, what is his/her expected, is he/she
are aready to work under time based job, or very
restrictive or under pressure working hours, is he/she
ready ro work for shifts, or he/she is ready to continue
the shift timing in some emrgency/urget cases........many
more

Question { 41490 }

what is audit

Answer

Audit means verification of accounts for a perticualr
period like financial year 2003-04, or 2004-05, or 2007-08
like this.

vouching plays an important & first role in verification of
account, in audit first step is vouching, then compare
vouchers to cash book, should be find any mis entries...
then cash should be compared with bank stmt.... after all
primary steps trial balance should be prepare, after should
be seen or verify about ledgers, where all ledgers are
created under correct headrs or not, all groups, ledger -
overall view.
after all accounting proceedure, Receipt & Payment Account
should be prepared & based on that Balance sheet should be
there
Balacne sheet is a last & final step in auditing,
Once the balance sheet is prepared, signed & submitted
means audit is completed

Question { 41490 }

what is audit

Answer

Audit simple means vouching & verification of account for a
perticular financial year.

Question { 4649 }

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.

Answer

If once he gave the report, he is not suppose to change any
entries or he can not make any changes int he financial
statment.

but only given report means not a problem, still
finalisation he can adjust the entries by putting Journals,
but after preparation of Balance Sheet it is not possible,
Once it is signed & submitted means.....not possible.

if any adjustment or any new entries is there means, he can
taken into next period by showing O/s for that year.

Overall view we can say, in some cases changeing opinion
can be submitt, or in someother cases it can not be so easy

Question { Abacus, 9985 }

What is Jurisdiction Code

Answer

Jurisdidction code is a code given by the court for a
jurisdidcted area/place

Question { TCS, 66166 }

I MAKE MIS FOR MY COMPANY. INTERVIEWER ASKED ME WHAT UR
ROLL IN MIS. I ASKED HIM,I PREPARE IT AND SEND TO MY
MANAGER. BUT HE AGAIN ASKED MY ABOUT MY ROLL IN MIS. WHAT
HE WANTED TO KNOW? PLEASE TELL ME

Answer

see, actually MIS means not only preparation of IT, but it
is concerned to all over daily report to the manager or
head of the dept, or who ever is head.........
whether it is trading Co., or non Trading co., or profit
earning co., or not profit earning co., - the type of co.,
it is important, because MIS exactly means explanation of
each day summary in simple formate, this summary should
contain rpt, pay., sales, purchase, journal, stock, etc.,
overall transaction per day. this transactions varies from
co. to co., because of this reason only co. is not
imporatant in preparation of MIS reports, we should
concentrate about the transactions, MIS is only the basic &
pillar report or details of a co.

Question { State Bank Of India SBI, 31405 }

How will u handle accounts receivable?

Answer

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.

Question { Crisil, 86219 }

What is Meany By MIS Report?What are things covered in the
report?

Answer

MIS report actually means, it is a report conducts day to
days transaction details of a co. whether it is small or
big. It covers day to day receipts, payments, any contra,
sales, purchase etc. any transaction depending upon on the
co.

Question { Mind Tree, 18786 }

What is the negative test cases for www.yahoo.com?

Answer

the negative test cases for www.yahoo.com is "page can not
be displayed"

Question { 25941 }

If Bank OD In Balance Sheet Which Site Showing?

Answer

BOD should be shown in the liability side of the Balance
Sheet

Question { 23371 }

what is format of Trial balance

Answer

the formate of Trial Balance is,

Debit Credit

1) Current Liabilites xx xxx
2) Fixed Assets xxx
3) Current Assets xxx xxx
4) Direct Income xxx xxx
5) Direct Expenses xx
6) Indirect Income xxx xxx
7) Indirect Expenses xxx xxx
Profit or Loss A/c xxx