Guys the CARO reporting requirements.. Easier way to remember.. " IF CCD IS FILLED GRAB SPECIAL (SPL) TEA (T)" I - INVETORIES F - FIXED ASSETS C - COST ACCUNTING RECORDS C - CHIT FUNDS D - DEPOSIT I - INTERNAL CONTROL S - STATUTARY DUES F - FRAUD I - INTERNAL AUDIT L - LOAN TO/FROM DIRECTORS L - LOAN AGAINST SECURITIES E - END USE OF ISSUE PROCEED D - COMPANY DEALING IN SECURITIES G- GUARENTEE GIVEN R - REPAYMENT OF DUES A - APPLICATION OF FUNDS B - END USE OF BORROWING S - SECURITIES FOR DEBENTURES ISSED P - PREFERNTIAL ALLOTMENT L - LOSS MAKING COMPANY T - TRANSACTION COVERED U/S 301 Do make frequent application of the same in audit exam.. Will fetch better marks..
Friday, 20 June 2014
CARO Reporting easy learning technique for Ca students
Guys the CARO reporting requirements.. Easier way to remember.. " IF CCD IS FILLED GRAB SPECIAL (SPL) TEA (T)" I - INVETORIES F - FIXED ASSETS C - COST ACCUNTING RECORDS C - CHIT FUNDS D - DEPOSIT I - INTERNAL CONTROL S - STATUTARY DUES F - FRAUD I - INTERNAL AUDIT L - LOAN TO/FROM DIRECTORS L - LOAN AGAINST SECURITIES E - END USE OF ISSUE PROCEED D - COMPANY DEALING IN SECURITIES G- GUARENTEE GIVEN R - REPAYMENT OF DUES A - APPLICATION OF FUNDS B - END USE OF BORROWING S - SECURITIES FOR DEBENTURES ISSED P - PREFERNTIAL ALLOTMENT L - LOSS MAKING COMPANY T - TRANSACTION COVERED U/S 301 Do make frequent application of the same in audit exam.. Will fetch better marks..
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