COSTING IMP QUESTION JAN-25

BY - CA/CS NIMIT PITI

IMP QUESTIONS MARKED IN RED ⭐

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ALL CA INTER RESOURCES FOR EXAMS

https://whatsapp.com/channel/0029Va4O1SMId7nSehaNNI0r/441

YOU WILL FIND IT HELPFUL 🏆

Exams are nearing. It is usually the time jab sab kuch jaldi jaldi karna hota hai. But this time, instead of briefly doing all..how about you do something that MATTERS. SOMETHING THAT APPEARS IN THE PAPER.
Presenting to you a sure success marathon. Designed to cater the jan 25 exams sepcifically. Hope you like it.
Happy learning & All the best https://youtu.be/UGvg4Lh80LM

Last exam oriented session for both grpups of this year and also for Jan-25 by tomorrow at 6PM so don't miss it and some exciting news for Jan-25 and May-25 students there are!! :)

For enrollment, Msg - https://wa.link/k3m77o

Before this year end

Grow our YouTube community

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The only Income Tax Marathon for concept Revision Jan 25

https://youtu.be/K2QV-1sKveA?si=kdD6FM1bQAYNMj8o

CA AKASH BANSAL
AIR 4,14,47

Make it 1000 before 2025 end
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Most important questions

Audit Q/A Practice together

https://t.me/+TXhGZJSecRI1ZTQ9

CH -1 QUESTIONS

Q. 1 Meaning and Nature of Audit
https://t.me/c/2306266009/2

Q. 2 Objective of Auditor
https://t.me/c/2306266009/9

Q. 3 Scope of Audit
https://t.me/c/2306266009/36

Q. 4 Inherent Limitations of Audit
https://t.me/c/2306266009/147

Q. 5 Benifits of Audit
https://t.me/c/2306266009/242

Assurance Engagement
Q. 6
https://t.me/c/2306266009/307
Q. 7
https://t.me/c/2306266009/381
Q. 8
https://t.me/c/2306266009/457

Q. 9 Qualities of Auditor
https://t.me/c/2306266009/505

All the best 💯

Group link
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CA NOTES COMMUNITY is inviting you to a scheduled Zoom meeting.

Topic: JAN-25 EXAM ORIENTED BOH GROUPS SEMINAR
Time: Dec 31, 2024 06:00 PM Mumbai, Kolkata, New Delhi
Join Zoom Meeting
https://us06web.zoom.us/j/82959945259?pwd=ggZBGVbjsWKYkaAncgGZTraw89pLx3.1

Meeting ID: 829 5994 5259
Passcode: 253802

*Only for first 100 members

SM IMPORTANT MCQ OUT !!

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500 Like Target 🎯

CA INTERMEDIATE

AUDIT AND ETHICS

# CARO 2020 SUMMARY

(a) Provisions of CARO are equally applicable in case of branches also, because under sec. 143(8), a branch auditor has same duties as of company auditor.
(b) A company is covered under the definition of small company, it will remain exempted from the applicability of the Order even if it falls under any of the criteria specified for private company.
(c) Paid up capital includes equity as well as preference.
(d) Amount originally paid up on forfeited shares should be added to the figure of paid up capital.
(e) Share Application money should not be considered as part of paid up capital.
(f) Reserves includes Capital reserves, revenue reserves as well as Revaluation Reserves.
(g) Credit Balance of Profit and Loss Account will form part of reserve.
(h) In case of debit balance of profit or loss, same shall be netted for computing reserves & surplus.
(i) Loans from banks and financial institutions are to be considered in aggregate. Financial Institutions will include NBFC.
(j) Loans may be in any form like term loan, demand loans, cash credit overdraft, export credit, bill purchased/discounted.
(k) Non fund-based credit facilities have devolved and have been converted into fund based credit facilities should also be considered as outstanding loan.
(l) Long term loans as well as short term loans, secured as well as unsecured will be considered.
(m) Outstanding dues in respect of credit cards will also be considered.
(n) Interest accrued as well as due does form part of outstanding loan, whereas interest accrued but not due is not considered as loan.
(o) Total revenue as disclosed in Schedule III comprises of Revenue from operations and Other Income.
(p) In respect of a company other than a finance company revenue from operations shall consists of revenue from
(a) Sale of products;
(b) Sale of services; and
(c) Other operating revenues, as reduced by Excise duty.
(q) In respect of a finance company, revenue from operations shall consists of revenue from
(a) Interest; and
(b) Other financial services.
(r) Other income shall consist of the followings:
• Interest Income (in case of a company other than a finance company);
• Dividend Income; • Net gain/loss on sale of investments;
• Other non-operating income (net of expenses directly attributable to such income).

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