Shridhi Jain (Company Secretary) (1678 Points)
17 January 2011Dear frnds,
Kindly tell me wat are the things that a CS should keep in mind while signing the B/Sheet n P&L of the Company ?
This is my first job as a CS and now I have to sign the balance sheet n p&l of the company for the first time. Mine is a pvt. ltd. co.
Pls reply...
Regards,
Shridhi Jain
ROHIT CHATURVEDI
(CA Final Student )
(2298 Points)
Replied 17 January 2011
paid up capital of the company should be 1 lacs
suresh kumar
(B. Com (hons.) FCA (Future Chartered Accountan) CA Final)
(101 Points)
Replied 17 January 2011
you have take care of the following points
1. Paid up capital of the company which is 1 lac in case of pvt. ltd
2. segregation and presentation of the items of the balance sheet as per the schedule VI of the companies Act.
3. check it out b/sheet format as per schdule VI
Balance sheet
Liabilities Amount Assets Amount
Authorised Capital Fixed Assets
Paid up and Subscribed Investments
capital Current Assets
Secured L:oans Misc. expendituere
Unsecured Loans
Current Liabilities
ASHU SHARMA
(CA STUDENT)
(194 Points)
Replied 17 January 2011
Shirdhi i expected you know the basic thinks as a company secretary.
you have take care of the following points while signing the financial statements.
1. Check Authorised Capital ,Paid up capital should not be less than 1lac
2.Check if any Number of Shares alloted to shareholder during the year.
3.Read company MOA,AOA for check any ultra vires transaction by company during the year.
4.Director Appointment/Retirement if any during the year.form 32
5.In case of Change of Addres form 18 should be filed.
6.Period of Notice of AGM and read director report.
7.Must Read Auditor Report properly because It present the whole picture of financial statement which auditor has been checked during the audit.
8..Annual forms Annual Return of ROC,20B, Form23AC,Form23ACA etc.
9.check if any CS Compliance certificate required in case capital is more than 10lac of company.
10.Company have to follow accural basis accouting system.
11.Accouting Policies and Standards followed by company in prepration of financial Statement.
12..Disclosure of all significant matter with financial statement.
13.Check whether company Maintain Statutory register,resolution etc or not.
14.Whether company Maintain Minutes or records required by company Act1956
15.Check whether company complied with all statutory requirement under company Act 1956.
Shridhi Jain
(Company Secretary)
(1678 Points)
Replied 17 January 2011
Thnx frnds for the kind reply....
CAclubindia
