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Vouching and verification for PCC

Nawaz (CA Final) (195 Points)

05 May 2010

For vouching and verification topics in auditing for pcc. How many points are we expected to write in the examination for 5 marks. i dont wanna spent my time writing more than what is expected.

and same for the special audit topics too. how many points are we expected to write.

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7 Replies

sanju (---) (131 Points)
Replied 05 May 2010

u need to write only 6 points

VOUCHING

1.type of voucher -

2.verify the accounting head -

3.list of supportive documents -

4.computation -

5.books of accouts to examine -

6.accounting policy -

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VERIFICATION

1.Existence -

2.recors -

3.right of ownership -

4.valuation -

5.presentation and disclosure -

6.special remarks -

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sanju (---) (131 Points)
Replied 05 May 2010

& formate must be table

Nawaz (CA Final) (195 Points)
Replied 05 May 2010

tkhanks sanju . but can u give a example for vouching and verification. like for R& D EXP how w e have to do and For GOOD will in verification and thanks in advance

sanju (---) (131 Points)
Replied 05 May 2010

u need to write onl

y 6 points

VOUCHING of research and development exp.

1.type of voucher -	Bank/cash payment voucher
2.verify the accounting head -	Dr. reserch phase exp. A/C. Dr. development phase exp. Cr. Bank/cash
3.list of supportive documents -	reserch phase exp. supportive development exp. details - as salary of scientists ,technicians.and feasibility study report
4.computation -	segregate the reserch phase from development phase
5.books of accouts to examine -	ledger,cashbook,bankbook
6.accounting policy -	according to AS-26,reserch phase exp. shuld be debited to profit and loss acc. and development phase exp. can be treasted as intengible assets if they qulify for the requirements of AS-26.