RE.Vishresh (Accounts Executive) (220 Points)
11 October 2017
RE.Vishresh
(Accounts Executive)
(220 Points)
Replied 13 October 2017
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 08 November 2018
It depends upon the nature of industry. Suppose if it;s a manufacturing unit you have to start from procurementof materials which includes Purchase activity to Product Completion stage viz., including Costing. It the Organisation has more & more Departments viz., Vendor development, Marketing, HR, Finance etc., each area has to be focused with the internation transactions ofeach depts.
B.R.Vinod kumar
(Accounts Manager)
(275 Points)
Replied 13 November 2018
Hi vishresh,
Check list for before audit :
1. check the sales and purchase entry updated from april to march 31st..
2. Bank Reconciliation all banks.
3. cash book updation.
4. then you got Receivable & Payable with aging. , get confirmation from vendore for high value.
5. Prepare the provision entry for march .
6. Close all statutory , month on month. & reconcilie with book vs return
7 . prepare FA register.
8. if your in manufacturing industry , prepare closing stock & semi finished goods also.
i think almost you covered for audit ..
CAclubindia
