Whether it is compulsory for IT audit for gross sale of rs44lacs in a financial year?
Công ty Luật Á Đông say: In Vietnam I think it is labor code. Labor code is a legislation is promulgated by Congress it cove all issues relating to labor, employers, employee. see more here....luatsuadong.vn
1 person found this useful
\nGROSS RECEIPTS is the total amount received prior to the deduction of any allowances, discounts, credits, etc.\n. \nGROSS REVENUE is income (at invoice values) received for… goods and services over some given period of time. \n. \nGROSS SALES is the total revenue at invoice value prior to any discounts or allowances.\nGross Receipts = Gross Revenue = Gross Receipts\n. \nThey are all the same thing, which is the total amount of revenue that a business generates during a year prior to taking any discounts, allowances, etc.\n. \nGross Sales - COGS = Gross Profit\nGross Receipts - COGS = Gross Profit\nGross Revenue - COGS = Gross Profit
A financial audit looks into the legality of the financialstatements of a given company. Commercial audits confirm that acompany has the right to use the brands and products t…hat itadvertises.
If the gross profit ratio is the same for two years, the financialposition of the company is stable. It means the company is at thesame break even point as the year before, bu…t does not constitutegrowth of profit.
Yes, if sales is VAT EXCLUSIVE
balance sheet. profit and loss acount. trail balance. cash flow and funds flow ....are the main
Auditing the financial statements of a business is a tedious process, the further the auditor wants to go back, the more difficult it becomes. In order to audit the financial …statements of a company, the auditor has to go through all the financial statements, look at all receipts of moneys earned, spent, invested, etc and compare them to each and every entry to make sure that they match. Providing all accurate receipts, invoices, pay-roll information and other financial information will help make the process much easier and faster.
So that the company will know how much it has made and how much it has in loss and to improve.
Look at it, and if it doesn't make sense, you're in the wrong line of work mate.
NET SALES: Gross sales minus returns, discounts, and allowances. GROSS SALES: Total invoice value of sales, before deducting for customer discounts, allowances, or return…s.
Unqualified audited financial statement is setof financial statements which are audited by external financialauditors and found "True and fair view" of financial statements an…dclear from any fraud etc.
In a financial audit, the management of an organization asserts that the financial statements are prepared in accordance with generally accepted accounting principles (GAAP), …the applicable criteria.
" CONTINUOUS AUDIT " is essential to a bank so as to maintain a correct flow of amount in both in and out flow.
Proprietorship which has turnover above 60 lacs wil have to compulsory Audit. Sijo
In Business Accounting and Bookkeeping
To know if it is within the standard and to know the correctness of them.
In Tax Audits
It depends which country you are referring to
In Math and Arithmetic
By smelling butts