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 💯

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SM IMPORTANT MCQ OUT !!

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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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900+ students are practicing

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Open Till 1000

HAPPY NEW YEAR, 2025! 🥂

May this year bring you closer to your goals, fill your journey with determination amd led you to success kepp pushing forward, stay focused and remember that every step, no matter how small, brings you closer to your dream. Here's to a year of growth, hard work and triumph. 🎊📚🎓

As a token of love subscribe us😍

https://youtube.com/@canotescommunity?si=NSncDZtEa9PcyNfC

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@CANOTESCOMMUNITY
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We regret to inform the community that Dashu's Makwana will no longer be a part of any CNC. As we reflect on his incredible contributions, we are filled with gratitude for his unwavering dedication and hard work. 🌟

On this moment, let's take a moment to appreciate Dashu for being an integral part of the CA Notes Community.

Let's show our appreciation for everything Dashu has done, and extend our heartfelt best wishes for his future and the new chapters of his life. ✨

Thank you, Dashu!

Best wishes for your future endeavors! 🚀

Lots Of Love,
Team CNC.

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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NOW, CA FINAL NOTES AND STUDY MATERIAL WILL ALSO BE UPLOADED IN THIS CHANNEL

TO CATER NEEDS OF OUR SUBSCRIBER WHO BECAME FINALIST IN LAST ATTEMPTS

These Admins will look into the same:-
@Deepanshugupta21
@agarwalgarv
@Ujjwaljain_22

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@CANOTESCOMMUNITY
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