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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@CAINTERCOMMUNITY
@CANOTESCOMMUNITY
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CA INTERMEDIATE

AUDITING & ETHICS

CARO, 2020 SUMMARY HANDWRITTEN NOTES BY ADMIN

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@CANOTESCOMMUNITY
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CA INTERMEDIATE

TAXATION
INDIRECT TAX

GST SUMMARY BOOK BY CA KARAN SHETH

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@CAINTERCOMMUNITY
@CANOTESCOMMUNITY
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CA INTERMEDIATE

TAXATION
INDIRECT TAX

GST OCOQ BOOK BY CA KARAN SHETH

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@CAINTERCOMMUNITY
@CANOTESCOMMUNITY
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CA INTERMEDIATE

TAXATION
DIRECT TAX

RAPIDER BOOK BY CA AMIT MAHAJAN ONLY FOR JANUARY, 2025

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@CAINTERCOMMUNITY
@CANOTESCOMMUNITY
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https://t.me/AUDIT_P5

Discuss Audit Q/A & Practice together

https://t.me/+TXhGZJSecRI1ZTQ9

Jan-25 EXPECTED WEIGHTAGE

1. Nature, objective and Scope - 3M

2. Audit strategy, planning, programme 10-12M

3. Risk assessment and Internal control 5-7M

4. Audit Evidence 12-15M

5. Audit of items of FS 10-15M

6. Audit documentation 4M

7. Completion and Review 4-8M

8. Audit Report 7M

9. Special Features of Audit of different type of entities 7M

10. Audit of bank 4-7M

11. Ethics and terms of Audit engagement 7M

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@AUDIT_P5
@CANOTESCOMMUNITY
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CA NOTES COMMUNITY

OUR FAMILY HAS ADDED 21,000+ MEMBERS IN 2024 🔥❤️

Hope we will continue to serve CA Aspirants as much as we can !!

Thank you to be a part of the journey

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STANDARD COSTING KA DARRR KHATAM

LIVE STANDARD COSTING REVISION!!
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Starts 2:00pm
TODAY (2nd January)

JOIN THESE CHANNEL 💬

⭐Doubts & Discussion group:

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⭐WhatsApp group:

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Yours_AmitBhai❤️😄

Jan 25 Academic Doubts

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Follow our WhatsApp Channel

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🔥Live now❗🔥

*Last 6-Day Strategy Session for CA Intermediate - January 2025 Attempt*

Dear CA Intermediate Students,

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CA ARTICLESHIP, JOBS AND PRE RESULT VACANCY ANNOUNCEMENT WILL SHARE HERE:


https://t.me/CAARTICLESHIPCOMMUNITY

How to mail CV

When asked to email your CV,
You should never send your CV alone without composing a proper email. Here's an example:

---

To: [Email address of the company you’re applying to]
Subject: APPLICATION FOR THE POSITION OF [POSITION TITLE]

Email Body:

Dear [Employer/HR Manager],

I am writing to express my interest in the position of [Position Title] as advertised recently. My qualifications, skills, and experience align closely with your requirements for this role.

Please find my CV and supporting documents attached for your review. I would be delighted to discuss how I can contribute to your team and look forward to hearing from you soon about this exciting opportunity.

Kind regards,
[Your Full Name]
[Your Contact Number]
[Your Email Address]

---

Important Notes:

1. Always attach your CV in PDF format for professionalism. Avoid sending it as a scanned document, screenshot, or image file.


2. Review your email carefully before sending to ensure there are no errors or typos.
Mail format

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@CAARTICLESHIPCOMMUNITY
@CANOTESCOMMUNITY
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This day, Next week : accounts ka paper khatam ho gya hoga 🤞

📖 CANOTESCOMMUNITY - https://t.me/CANOTESCOMMUNITY

🧑🏻‍🎓 CA FOUNDATION -
https://t.me/CAFOUNDATIONCOMMUNITY

👨🏻‍🎓CA INTER -
https://t.me/CAINTERCOMMUNITY

🏆 CA FINAL -
https://t.me/CAFINALCOMMUNITY

Follow on INSTAGRAM 🤝 -
https://instagram.com/canotescommunity

Subscribe on YouTube ❤️ -
https://youtube.com/@canotescommunity

Articleship and Job vacancy
https://t.me/CAARTICLESHIPCOMMUNITY

For Classes -
https://wa.me/message/YPSAKHGVVT2XF1

Exam week for Jan-25 exams 📝
Socha yaad dila doon 👍