how to audit a joint venture? what are the important points to focus on?
3 Replies
ROSHAN BHARTIA
(ACCOUNTANT AND CA ARTICLE)
(2250 Points)
Replied 27 February 2012
FIRST U CHECKED THE JOINT VENTURE AGREEMENT
JOINT VENTURE IS SHORT DURATION BUSINESS, CHECK THE TERM AND CONDITION WHAT TYPES OF GOODS, PROFIT SHARING RATIO OF PARTNERS OF JOINT VENTURE ACCORDING TO DEED,THEN ASSET LIABILITIES , REGARDING CREDITORS DEBTORS AGAINST EACH OTHER
ROSHAN BHARTIA
(ACCOUNTANT AND CA ARTICLE)
(2250 Points)
Replied 27 February 2012
CHECK THE ENTRIES OF BOOKS , EXPENSES ARE BORNE BY PARTNERS OR COMMISSION'S ON SALES OR PURCHASING OF GOODS , CHECK WHETER TH BUSINESS IS COMPLETED IN TIME OR NOT , EXPENSES ARE REALTED TO THAT PERIOD INCOMES ARE WELL RECOGINED OR NOT IN JOINT VENTURES AGREEMENT.
ROSHAN BHARTIA
(ACCOUNTANT AND CA ARTICLE)
(2250 Points)
Replied 27 February 2012
U CAN SEE BELOW FOR AUDIT OF JOINT VENTURE BUSINESS
Attached File : 602188 939197 joint venture audit guidlines.pdf downloaded: 213 times
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