Ca firm admission test question and answer.pdf

1. Ca firm admission test question and answer
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1. WHAT IS STATUTORY AUDIT?
Answer: Statutory audit is done by chartered Accountants, to verify the financial statement’s fairness
and it is done annually. It ensures that, to the best knowledge of the auditors, financial statements are
free from any misrepresentations and frauds.
2. WHAT IS INTERNAL AUDIT?
Answer: An inspection and verification of the financial records of a company or firm by a member of its
own staff to determine the accuracy and acceptability of its accounting practices.
3. WHAT IS EXTERNAL AUDIT?
Answer: a periodic examination of the books of account and records of an entity conducted by an
independent third party (an auditor) to ensure that they have been properly maintained, are accurate
and comply with established concepts, principles, and accounting standards, and give a true and fair
view of the financial state of the entity.
4. Explain the Difference Between Internal Audit and External Audit?
Answer: The internal audit is conducted to help the management. The weakness of the management is
disclosed. The external audit is conducted to help the shareholder. The rights of owners are protected.
The appointment of internal audit is made by the management. The appointment in external audit is
made by the shareholders. Internal audit is the part of internal control.
External audit is the not the part of internal control. The internal audit can suggest improvement in
internal check system. The external audit cannot suggest improvement in internal check system. The
internal audit can perform his duties under the terms of appointment. The management can limit the
scope of work at any time. The external auditor can perform his work to terms of appointment and
other prescribed law. The scope is very wide. Internal audit is an employee of the company. He is not an
independent person. External auditor is not an employee of the company.
5. What do you mean by vouching?
Answer: Vouching is the process of checking the authentication of the voucher maintain by the
management with the respective supporting document.

2. 6. Definition of audit?
Answer: An examination and verification of a company’s financial and accounting records and
supporting documents by a professional, such as a Certified Public Accountant.
7. What are Objectives of Internal Audit?
Answer: The purpose of internal audit is to keep proper control over business activities. When there is
proper control there is maximum efficiency. The internal auditor determines the degrees of control over
work. The purpose of internal audit is to evaluate the accounting system. It is concerned with checking
proper authority for transactions like purchase, retirement and disposal of fixed assets. The vouchers
can be compared with entries in order to determine that figures are facts.
The purpose of internal audit is to help the management. Internal auditor can point out the weakness.
The internal audit can be used as a tool to correct the situation. The management functions can be
performed properly. The purpose of internal audit is to review the working of business. The working of
current tear can be reviewed in detail just to note the successful area of working. There is a need to
locate the weak points. The corrective measures can be taken for proper working.
8. Explain the difference between internal audit and statutory audit?
Answer: An internal audit is one which is conducted by the internal auditors of the company. It is not
mandatory for the company and the company just conducts it to keep a check on the operations of the
company. On the other hand, statutory audit is very important because it is by the external auditors and
it is mandatory for all kinds of companies. Statutory audit is usually conducted for various purposes like
tax regulatory requires it for taxation purposes.
9. What is an audit process?
Answer: The word ‘Audit’ is a derivative of the word ‘Audition’ which means ‘to hear’. In earlier times,
the Kings used to hear their accountants narrate the accounts verbally. However, as the complexity of
the accounting function grew, need was felt to thoroughly check the accounts for mistakes
misclassification and document the findings in a written form so that it can be used by the Management,
stakeholders, investors, Government and various other bodies. This process is known as Auditing or
Audit.
10. Functions of audit?
Answer: The function of internal audit is concerned with analysis of internal check. The internal audit
can look into the duties of each employee. All employees are provided jobs on the basis of their abilities.
The auditor can test the effectiveness of internal check. The function of internal audit is examining the
application of legal requirements.
The accounts are prepared under certain legal frame work. Verification of accuracy is a function of
internal audit. The accuracy of accounting books and records can be verified with the help auditing
techniques. The audit techniques include inspection, observation, inquiry, confirmation, computation
and review. An auditor can check the accuracy through these techniques.
11. What is annual general meeting(AGM)?
Answer: AGM the statutory meeting of the directors and shareholders of a company or of the members
of a society, held once every financial year, at which the annual report is presented

3. 12. What is extraordinary general meeting(EGM)?
Answer: A meeting other than the annual general meeting between a company’s shareholders,
executives and any other members. An EGM is
13. Rules surrounding the AGM
Answer: Most private companies are not required to hold an AGM. Public limited companies (plcs) must
hold an AGM within six months of their financial year end.
Companies can still hold an AGM if they choose to. As with other meetings, an AGM must be arranged if
any director asks for one with due notice, or if 5 per cent of the members request one. A company may
also still need to hold one in certain circumstances. For example, you must hold an AGM if you want to
dismiss a director or auditor before the end of their term, or if you are a public company with traded
shares.
If the company does hold an AGM:
* You must send written notice to the directors and shareholders 14 days in advance (21 days in
advance for public companies with traded shares), unless your company articles state otherwise. An
AGM can be held at shorter notice if 90 per cent of members agree (95 per cent for plcs).
* You are no longer required to circulate copies of the company’s accounts before an AGM. However,
they must be sent to members before they are due to be filed with the registrar of companies.
* Directors and shareholders can vote on the appointment of directors and auditors to the company (if
required).
* Ordinary resolutions can now be passed by a simple majority and special resolutions require at least
75 per cent of those eligible to vote in favour.
* You must file at Companies House any special resolutions passed at a meeting.
usually called on short notice and deals with an urgent matter.
14. what is Accounting?
Answer: The information system that identifies, records, and communicates the economic events of an
organization to interested users
15. Definition of cash basis accounting?
Answer: An accounting method in which income is recorded when cash is received, and expenses are
recorded when cash is paid out.
16. Definition of Accrual Basis accounting?
Answer: The most commonly used accounting method, which reports income when earned and
expenses when incurred.
17. what is capital expenditure?
Answer: Money spent to acquire or upgrade physical assets such as buildings and machinery. also called
capital spending or capital expense.
18. what is revenue expenditure?
Answer: All expenses incurred in running a business such as salaries, wages, rent, lighting, stationary
etc. are classed as revenue expenditure. Beside expense incurred in putting the fixed assets in proper
order by repairs and renewals are also revenue expenditures.

4. 19. What is Asset?
Answer: Assets are a company’s resources—things the company owns. Examples of assets include cash,
accounts receivable, inventory, prepaid insurance, investments, land, buildings, equipment, and
goodwill. From the accounting equation, we see that the amount of assets must equal the combined
amount of liabilities plus owner’s (or stockholders’) equity.
20. what is Liabilities?
Answer: Liabilities are a company’s obligations—amounts the company owes. Examples of liabilities
include notes or loans payable, accounts payable, salaries and wages payable, interest payable, and
income taxes payable
21. what is Owner’s or stockholders’ equity?
Answer: Owner’s or stockholders’ equity also reports the amounts invested into the company by the
owners plus the cumulative net income of the company that has not been withdrawn or distributed to
the owners.
22. Definition of revenue?
Answer: this is the total amount of money received by the company for goods sold or services provided
during a certain time period.
23. Definition of expense?
Answer: Payment of cash or cash-equivalent for goods or services, or a charge against available funds in
settlement of an obligation as evidenced by an invoice, receipt, voucher, or other such document.
24. What is depreciation?
Answer: A non-cash expense that reduces the value of an asset as a result of wear and tear, age, or
obsolescence. Most assets lose their value over time (in other words, they depreciate),
25. What is income statement?
Answer: A financial statement that presents the revenues and expenses and resulting net income or net
loss of a company for a specific period of time.
26. what is balance sheet?
Answer: A financial statement that summarizes a company’s assets, liabilities and shareholders’ equity
at a specific point in time.
27. what is cash cow?
Answer: any business venture, operation, or product that is a dependable source of income or profit.
28. Definition of Tax?
Answer: A fee charged (“levied”) by a government on a product, income, or activity of an organization
or person.
29. What is direct tax?
Answer: In the general sense, a direct tax is one paid directly to the government by the persons or
organization (juristic or natural) on whom it is imposed (often accompanied by a tax return filed by the
taxpayer). Examples include some income taxes, some corporate taxes, and transfer taxes such as estate
(inheritance) tax and gift tax.

5. 30. What is indirect tax?
Answer: A tax, such as a sales tax or value-added tax, that is levied on goods or services rather than
individuals and is ultimately paid by consumers in the form of higher prices.
31. what is Tax holiday?
Answer: A government incentive program that offers a tax reduction or elimination to businesses. Tax
holidays are often used to reduce sales taxes by local governments, but they are also commonly used by
governments in developing countries to help stimulate foreign investment.
32. what is VAT?
Answer: Value Added Tax. A consumption tax which is levied at each stage of production based on the
value added to the product at that stage.
33. What is income tax?
Answer: a tax levied on incomes, especially an annual government tax on personal incomes.
34. What is internal rate of return (IRR)
Answer: The internal rate of return (IRR) is a rate of return used in capital budgeting to measure and
compare the profitability of investments. It is also called the discounted cash flow rate of return
(DCFROR) or simply the rate of return (ROR)
35. what is Net present value?
Answer: Net present value is an economic standard method for evaluating competing long-term
projects in capital budgeting
36. What is fair market value?
Answer: The price that an interested but not desperate buyer would be willing to pay and an interested
but not desperate seller would be willing to accept on the open market assuming a reasonable period of
time for an agreement to arise.
37. what is Hardware?
Answer: Hardware refers to a physical piece of a computer. This could be a hard drive, monitor, memory
chip, or CPU. The key idea is that the item is something you can touch. This compares to software which
is not tangible in any way. You can’t pick it up or weigh it. Yet, without software, hardware is useless.
Typical examples of hardware include the computer you’re using to view this page, the hard drive that
has this page stored on it, and the mouse you used to click on a link to bring you to this page.
38. what is software?
Answer: Software is a general term for the various kinds of programs used to operate computers and
related devices. Software is not visible.
39. What is internet?
Answer: a vast computer network linking smaller computer networks worldwide (usually preceded by
the). The Internet includes commercial, educational, governmental, and other networks, all of which use
the same set of communications protocols.

6. 40. What is E-commerce?
Answer: E-commerce (electronic commerce or EC) is the buying and selling of goods and services on the
Internet, especially the World Wide Web. In practice, this term and a newer term, e-business, are often
used interchangeably. For online retail selling, the term e-tailing is sometimes used.
41. what is E-mail?
Answer: E-mail (electronic mail) is the exchange of computer-stored messages by telecommunication.
(Some publications spell it email; we prefer the currently more established spelling of e-mail.) E-mail
messages are usually encoded in ASCII text. However, you can also send non-text files, such as graphic
images and sound files, as attachments sent in binary streams.
42. what is Financial Accounting?
Answer: The area of accounting concerned with reporting financial information to interested external
parties.
43. GAAP
Generally Accepted Accounting Principles (GAAP): Authoritative guidelines that define accounting
practice at a particular time.
44. IRS
Internal Revenue Service (IRS): A government agency that prescribes the rules and regulations that
govern the collection of tax revenues in the U.S.
45. SEC
Securities and Exchange Commission (SEC)S: The government body responsible for regulating the
financial reporting practices of most publicly owned corporations in connection with the buying and
selling of stocks and bonds.
46. what is Intangible Asset?
Answer: Intangible assets include patents, copyrights, trademarks, trade names, franchise licenses,
government licenses, goodwill, and other items that lack physical substance but provide long-term
benefits to the company. Companies account for intangible assets much as they account for depreciable
assets and natural resources. The cost of intangible assets is systematically allocated to expense during
the asset’s useful life or legal life, whichever is shorter, and this life is never allowed to exceed forty
years. The process of allocating the cost of intangible assets to expense Short notes;
47.Book value — total assets minus total liabilities. (See also net worth.) Book value also means the
value of an asset as recorded on the company’s books or financial reports. Book value is often different
than true value. It may be more or less.
48.Break Even point — the amount of revenue from sales which exactly equals the amount of expense.
Breakeven point is often expressed as the number of units that must be sold to produce revenues
exactly equal to expenses. Sales above the breakeven point produce a profit; below produces a loss.

7. 49.Deferred income — a liability that arises when a company is paid in advance for goods or services
that will be provided later. For example, when a magazine subscription is paid in advance, the magazine
publisher is liable to provide magazines for the life of the subscription. The amount in deferred income is
reduced as the magazines are delivered is called amortization, and companies almost always use the
straight-line method to amortize intangible assets.
50.Return on investment (ROI)– a measure of the effectiveness and efficiency with which managers use
the resources available to them, expressed as a percentage. Return on equity is usually net profit after
taxes divided by the shareholders’ equity. Return on invested capital is usually net profit after taxes plus
interest paid on long-term debt divided by the equity plus the long-term debt. Return on assets used is
usually the operating profit divided by the assets used to produce the profit. Typically used to evaluate
divisions or subsidiaries. ROI is very useful but can only be used to compare consistent entities — similar
companies in the same industry or the same company over a period of time. Different companies and
different industries have different ROIs.
51.Variable cost — a cost that changes as sales or production change. If a business is producing nothing
and selling nothing, the variable cost should be zero. However, there will probably be fixed costs.
52.Working capital — current assets minus current liabilities. In most businesses the major components
of working capital are cash, accounts receivable, and inventory minus accounts payable. As a business
grows it will have larger accounts receivable and more inventory. Thus, the need for working capital will
increase.
53.Write-down — the partial reduction in the value of an asset, recognizing obsolescence or other
losses in value.
54.Write-off — the total reduction in the value of an asset, recognizing that it no longer has any value.
Write-downs and write-offs are non-cash expenses that affect profits
55. what is entry tax. type of entry tax?
Entry tax is levied on that product which transfer or enter a product from-one state to another state or
one District to another district, if your sale as such the product not restructuring.
There is two types of entry tax are available
1) Entry on Motor Vehicles– Motor Vehicles purchased in other state enters to a different State, then
entry tax is leviable. this IS APPLICABLE ONLY FOR VEHICLES liable to be registered under Motor Vehicles
Act. The tax paid in other State can be compensated or set back of taken, if the rate of tax is higher in
the State where the vehicle is entering
2) Entry Tax on goods–this has been recently structed by the apex court in the case of Jindal Strips Ltd
for the reason that entry levied should be compensable otherwise it can be levied Imposition of Value
Added Tax:
Imposition of VAT
(1) Value Added Tax is imposed and payable on:
(a) taxable supplies; and
(b) taxable imports.

8. Amount of VAT payable
(2) The amount of VAT payable is calculated by multiplying the value of the
Taxable supply or import by the VAT rate.
Example: If the value is taka 100 and the VAT rate is 15%, the VAT payable is 100 x 15% = taka 15.
VAT rate
(3) The VAT rate for a taxable supply or import is
(a) if the supply or import is zero-rated, zero per cent;
(b) in any other case, 15 (fifteen) per cent.
Change of rate
(4) Where there is a change in the VAT rate, the rate to be applied is,—
(a) for an import of goods: the rate applicable at the time the VAT becomes payable under section 24;
or (b) for a supply of goods, services, or immoveable property: the rate applicable at the time of supply.
56. What is input tax?
Answer: Indirect tax (such as value added tax or VAT) levied on capital goods, raw materials, spare parts,
services etc., which a business consumes or uses in its operations.
57. What is output tax?
Answer: Tax that a seller adds to a buyer’s bill when they sell particular goods or services. At regular
periods of time, the total tax they have paid when buying goods and services themselves is taken away
from the total output taxes they have paid to arrive at a value-added tax figure that they must pay to
the government
58. what is tax deduction at source (TDS)
Answer: Tax deducted at source is one of the modes of collecting Income-tax from the assesses. Such
collection of tax is affected at the source when income arises or accrues. Hence where any specified
type of income arises or accrues to any one, the Income-tax Act enjoins on the payer of such income to
deduct a stipulated percentage of such income by way of Income-tax and pay only the balance amount
to the recipient of such income. The tax so deducted at source by the payer, has to be deposited in the
Government treasury to the credit of Central Govt. within the specified time. The tax so deducted from
the income of the recipient is deemed to be payment of Income-tax by the recipient at the time of his
assessment. Income from several sources is subjected to tax deduction at source. Presently this concept
of T.D.S. is also used as an instrument in enlarging the tax base. Some of such income subjected to T.D.S.
are salary, interest, dividend, interest on securities, winnings from lottery, horse races, commission and
brokerage, rent, fees for professional and technical services, payments to non-residents etc.
10. What is bank reconciliation?
Answer: Analysis and adjustment of differences between the cash balance shown on a bank statement,
and the amount shown in the account holder’s records. This matching process involves making
allowances for checks issued but not yet presented, and for checks deposited but not yet cleared or
credited. And, if discrepancies persist, finding the cause and bringing the records into agreement.

9. 59. what is Ratio Analysis?
Answer: A tool used by individuals to conduct a quantitative analysis of information in a company’s
financial statements. Ratios are calculated from current year numbers and are then compared to
previous years, other companies, the industry, or even the economy to judge the performance of the
company. Ratio analysis is predominately used by proponents of fundamental analysis.
60. what is trade discount?
Answer: a sum or percentage deducted from the list price of a commodity allowed by a manufacturer,
distributor, or wholesaler to a retailer or by one enterprise to another in the same trade
61. what is cost accounting?
Answer: a branch of accounting dealing with the classification, recording, allocation, summarization and
reporting of current and prospective costs and analyzing their behaviors. Cost accounting is frequently
used to facilitate internal decision making and provides tools with which management can appraise
performance and control costs of doing business.
62.Carriage inward: Occurs when a business has to pay for purchased goods to be delivered to its
Premises.
63.Carriage Outward: Occurs when a business PAYS for sold goods to be delivered to its customers
premises.
64. What is irrecoverable debts?
Answer: A debt which is not expected to be paid.
65. what is residual value?
Answer: The amount a company expects to be able to sell a fixed asset for at the end of its useful life.
66. what is Share?
Answer: A unit of ownership that represents an equal proportion of a company’s capital. It entitles its
holder (the shareholder) to an equal claim on the company’s profits and an equal obligation for the
company’s debts and losses.
###Two major types of shares are
(1) ordinary shares (common stock): which entitle the shareholder to share in the earnings of the
company as and when they occur, and to vote at the company’s annual general meetings and other
official meetings, and
(2) preference shares (preferred stock): which entitle the shareholder to a fixed periodic income
(interest) but generally do not give him or her voting rights. See also stock.
67. Definition of trial balance.
Answer: The act of totaling debit balances and credit balances to confirm that total debits equal total
credits.
68. Definition of ledger.
Answer: A ledger contains summarized financial information that is classified by assignment to a specific
account number using a Chart of Accounts.

10. 69. Definition of adjustment.
1. Answer: increase or decrease to an account resulting from an adjusting journal entry. For example,
the accrual of wages at year-end will cause an increase in both salary expense and salary payable.
2. Answer: changing an account balance because of some happening or event. For example, a customer
who returns merchandise ill receive a credit adjustment to the account.
70. Definition of appreciation?
1. Answer: Increase in the value of an asset through a rise in market price, appraised value, or income
earned, as compared to an earlier period. The opposite is Depreciation.
2. Answer: Increase in the value of one currency vs another, without any change in official value
occurring. It results from growth in market demand under floating exchange rates rather than official
action such as a currency revaluation.
71. Difference between depreciation appreciation?
Answer: Appreciation and depreciation both deal with asset value over time. Some assets, such as real
estate, bonds, and homes gain value as time goes on. These assets are said to appreciate. Other assets,
such as vehicles, manufacturing plants, and office equipment lose value over time (depreciate).
Appreciation/depreciation as a verb is the process of increasing value. For instance, a piece of real
estate might appreciate at 5% per year and a car might depreciate 10% a year. De/Appreciation do NOT
have to be linear. For instance, the moment you drive a new car off the lot, it depreciates a considerable
amount (say 10% of its value). The next year, though, the car might only depreciate 5%. How one
determines the rate of de/appreciation depends on your accounting rules. For tax reasons, many
companies have to abide by strict depreciation laws (For instance, it would be unreasonable to
depreciate a factory at 90% of its value in one year because it would effects the company’s profits and
thus the taxes that company pays).
For most consumers, de/appreciation is based on the market value of the asset. Back to the car
example: the moment a new car is driven off the lot, it loses a lot of its value because it is then
considered a “used” car, so people won’t pay as much for it.
72. what is fiscal year?
Answer: A 12-month period over which a company budgets its spending. A fiscal year does not always
begin in January and end in December; it may run over any period of 12 months. The fiscal year is
referred to by the date in which it ends.
73. Difference between fixed and variable costs?
Answer: Fixed costs are expenses whose total does not change in proportion to the activity of a
business, within the relevant time period. For example, a retailer must pay rent and utility bills
irrespective of sales
Variable costs by contrast change in relation to the activity of a business such as sales or production
volume. In the example of the retailer, variable costs may primarily be composed of inventory (goods
purchased for sale), and the cost of goods is therefore almost entirely variable. In manufacturing, direct
material costs are an example of a variable cost.
Along with variable costs, fixed costs make up one of the two components of total cost. In the simplest
production function, total cost is equal to fixed costs plus variable costs.

11. 74. Definition of MEMORANDUM OF ASSOCIATION?
Answer: The memorandum of association of a company, often simply called the memorandum (and
then often capitalized as an abbreviation for the official name, which is a proper noun and usually
includes other words), is the document that governs the relationship between the company and the
outside. It is one of the documents required to incorporate a company in the United Kingdom, Ireland,
India, Bangladesh, Pakistan and Sri Lanka, and is also used in many of the common law jurisdictions of
the Commonwealth.
Answer: A Memorandum of Association (MOA) is a legal document prepared in the formation and
registration process of a limited liability company to define its relationship with shareholders. The MOA
is accessible to the public and describes the company’s name, physical address of registered office,
names of shareholders and the distribution of shares. The MOA and the Articles of Association serve as
the constitution of the company. The MOA is not applied in the U.S. but is a legal requirement for
limited liability companies in European countries including the United Kingdom, France and Netherlands,
as well as some Commonwealth nations.
75. Definition of Articles of Association?
Answer: A document describing the purpose, place of business, and details of a non-profit organization.
Answer: A document that specifies the regulations for a company’s operations. The articles of
association define the company’s purpose and lays out how tasks are to be accomplished within the
organization, including the process for appointing directors and how financial records will be handled.
76. what kinds of terms included in Articles of Association?
The Articles can cover a medley of topics, not all of which is required in a country’s law. Although all
terms are not discussed, they may cover:
* the issuing of shares (also called stock), different voting rights attached to different classes of shares
* valuation of intellectual rights, say, the valuations of the IPR of one partner and, in a similar way as
how we value real estate of another partner
* the appointments of directors – which shows whether a shareholder dominates or shares equality
with all contributors
* directors meetings – the quorum and percentage of vote
* management decisions – whether the board manages or a founder
* transferability of shares – assignment rights of the founders or other members of the company do
* special voting rights of a Chairman, and his/her mode of election
* the dividend policy – a percentage of profits to be declared when there is profit or otherwise
* winding up – the conditions, notice to members
* confidentiality of know-how and the founders’ agreement and penalties for disclosure
* first right of refusal – purchase rights and counter-bid by a founder.
77. Definition of memorandum of agreement?
Answer: A memorandum of agreement (MOA) or cooperative agreement is a document written
between parties to cooperatively work together on an agreed upon project or meet an agreed objective.
The purpose of a MOA is to have a written understanding of the agreement between parties.
A MOA is a good tool to use for many heritage projects. It can be used between agencies, the public and
the federal or state governments, communities, an

12. 78. Definition of resident company?
Answer: Entity treated by the jurisdiction, in which it is registered or incorporated or conducts its
business, as resident for exchange control and/or tax purposes
79. Definition of non-resident company?
Answer: That is incorporated in a jurisdiction as non-resident for tax purposes.
Answer: A company treated by the jurisdiction in which it is incorporated as non-resident for tax
purposes or exchange control purposes or both
n MOA lays out the ground rules of a positive cooperative effort.
80. Definition of sales tax?
Answer: A sales tax is a consumption tax, usually paid by the consumer at the point of purchase,
itemized separately from the base price, for certain goods and services. The tax amount is usually
calculated by applying a percentage rate to the taxable price of a sale
81. Definition of purchase tax?
Answer: A tax that is added to the price of goods sold in shops, but not on basic goods that people need
to buy, that the owner of the shop must pay to the government
82. Definition of excise tax?
Answer: An indirect tax charged on the sale of a particular good.
Answer: An excise tax is a tax on use or consumption of certain products. Excise taxes are sometimes
included in the price of a product, such as motor fuels, cigarettes, and alcohol. Excise taxes may also be
imposed on some activities, like gambling. Excise taxes may be imposed by the federal government or by
a state. x levied on nonessential consumer goods and added to selling prices by retailers
83. Definition of use tax?
Answer: Use tax is levied when the products are purchased from a different state paying the sales tax to
that state. This tax compensates the state where the goods are finally put to use, the loss it has suffered
because of the purchase from a different state.
you can see those things also: Grammatical rules, translation, paragraph writing, fill in the gaps,
application/letter, corrections, transformation etc. may be included in the questions.

13. SOME Elaborate :
ICAB – Institute of Chartered Accountants of Bangladesh.
ICMAB – Institute of Cost and Management Accountants of Bangladesh.
CIMA – Chartered Institute of Management Accountants
ICDDRB – International Centre for Diarrhoeal Disease Research, Bangladesh
NBR – National Board of Revenue
SEC – Securities and Exchange Commission
DSE – Dhaka Stock Exchange
CSE, – Chittagong Stock Exchange
FBCCI – Federation of Bangladesh Chambers of Commerce and Industries
GAAP – Generally Accepted Accounting Principles
RAM – Random-access memory
SOME ACCOUNTING BODIES
IASB – International Accounting Standards Board.
FASB – Financial Accounting Standards Board.
ASB – Accounting Standards Board.
GASB – Governmental Accounting Standards Board.
OTHER ORGANIZATION & BODIES
IFIC – International Federation of Accountants
AIA – Association of International Accountants
AAA – American Accounting Association
ICAEW – Institute of Chartered Accountants in England and wales
SAFA – South Asian Federation of Accountants
SOME STANDARDS & PRINCIPLES
GAAP – Generally Accepted Accounting principles
BAS – Bangladesh Accounting Standards
IFRS – International Financial reporting Standards
FAS – Financial Accounting Standards (USA)
FRS – Financial reporting Standards (Uk)
AUDITING STANDARDS & BODIES
ISA – international Standards on auditing
IAASB – International Auditing and Assurance Standards Board
PROFESSIONAL DEGREES & ORGANIZATION
CA = chartered Accountant
ACA = Associate of Chartered Accountants
FCA = Fellow of Chartered Accountants
ICAB – Institute of Chartered Accountants of Bangladesh. these kinds of degree provide by Institute of
Chartered Accountants of Bangladesh(ICAB)

14. CPA = Certified Public Accountant
AICPA = American Institute of Certified public Accountant
PROFESSIONAL DEGREES & ORGANIZATION
CMA = Certified Management Accountants
ACMA = Associate of Certified Management Accountants
FCMA =fellow of Certified Management Accountants
PROFESSIONAL DEGREES & ORGANIZATION
CMA = Cost and Management Accountants
ACMA = Associate of Cost and Management Accountants
FCMA = Fellow of Cost and Management Accountants
ICMAB = Institute of Cost and Management Accountants of Bangladesh. those kinds of degree provided
by Institute of Cost and Management Accountants of Bangladesh
PROFESSIONAL DEGREES & ORGANIZATION
CMA = Chartered Management Accountants
ACMA = Associate of Chartered Management Accountants
FCMA = Fellow of Chartered Management Accountants
CIMA = Chartered institute Management Accountants. those degree provided by Chartered institute
Management Accountants
PROFESSIONAL DEGREES & ORGANIZATION
CAT = Certified Accounting Technician
ACCA = Associate of chartered Certified Accountants
FCCA = fellow of chartered Certified Accountants
ACCA = Association of chartered Certified Accountants. those degree provided by Association of
chartered Certified Accountants
End