this slideshow based on Cost Accounting, this powerpoint presentation i make very easy & simplely.so that any one can use it to fulfill theoir needs of powerpoint presentation.
Progetto di riorganizzazione aziendale volto alla creazione di:
- un nuovo piano di comunicazione, interno ed esterno, nel quadro di una strategia di sviluppo commerciale, rivolta all'espansione del mercato alle imprese Medio/Grandi ed ai privati;
- un incubatore di start up cooperative, in adesione alla mission del committente di promozione del modello cooperativo e di supporto all'attività imprenditoriale.
this slideshow based on Cost Accounting, this powerpoint presentation i make very easy & simplely.so that any one can use it to fulfill theoir needs of powerpoint presentation.
Progetto di riorganizzazione aziendale volto alla creazione di:
- un nuovo piano di comunicazione, interno ed esterno, nel quadro di una strategia di sviluppo commerciale, rivolta all'espansione del mercato alle imprese Medio/Grandi ed ai privati;
- un incubatore di start up cooperative, in adesione alla mission del committente di promozione del modello cooperativo e di supporto all'attività imprenditoriale.
Account-based marketing (ABM), also known as key account marketing, is a strategic approach to business marketing in which an organization considers and communicates with individual prospect or customer accounts as markets of one. Account based marketing is typically employed in enterprise level sales organizations.
Auditing is the process of verifying the validity of a company's various financial statements. Many renowned experts have defined auditing from their own perspectives. Below are the thoughts of some of the authors who commented on their respective opinions.
What are the major steps in a financial statement audit.pdfRathnakarReddy17
A financial statement audit is a formal examination of a company's financial statements. Its goal is to assess whether financial statements fairly and substantially accurately depict business operations and financial situation in compliance with the Generally Accepted Accounting Principles (GAAP) published by the Financial Accounting Standards Board. The income statement, balance sheet, statement of Cash Flow Budgeting and Forecasting in Washington, and other supporting disclosures are all specifically examined by the auditor for accuracy.A financial statement audit must be performed in accordance with GAAP by an impartial external auditor.
There are various types of Audit which are mentioned below: -
Based on Organizational Structure
Statutory Audit
Non-Statutory Audit
Based on Scope
Complete Audit
Partial Audit
Based On Time
Continuous Audit
Final Audit
Interim Audit
Based on Object
Special Audit
Cost Audit
Management Audit
Internal Audit
Social Audit
Tax Audit
Proprietory Audit
Statutory Audit is compulsory audit prescribed under statute i.e. law. Statutory audit is conducted after preparation of final accounts.
Non-Statutory Audit
Non-Statutory Audit is voluntary audit. They are not compulsory under any law.
Complete Audit
In this type of audit, the auditor is required to check each and every transaction recorded in the books of accounts.
Partial Audit
In Partial audit, the auditor is not required to examine all the books of accounts.
Continuous Audit
Continuous Audit means an audit at regular intervals throughout the accounting year.
Final Audit
Generally, it starts after the close of the financial period.
Interim Audit
Interim Audit is an audit conducted in between the annual audits
Special Audit
Central Government has power to order a special audit of the accounts of a company for a specific period.
Cost Audit
It is a type of audit which involves verification of cost records maintained by the organization
Management Audit
Management audit involves examines of the plans, policies, procedure, method and strategies and evaluates the performance of management with a view to improve organizational effectiveness. It does not look into the past, present but also in the future.
Internal Audit
Internal Auditing is a continuous, critical review of financial and other operating activities by a staff of auditors, functioning as full time salaried employees.
UBL is the leading auditing firm in Dubai. We become experts in your business with practices across the UAE-helping you take control of finances across all aspects of your business. While we are qualified auditors, accountants and business consultants, our innovative, flexible and business approach is what makes us different.
Discuss the role of an Auditor (both internal and external).Solu.pdfaksharatelicom
Discuss the role of an Auditor (both internal and external).
Solution
An auditor, simply put, is someone who audits, or vouches for the authenticity, correctness,
completeness, accuracy and disclosure requirements in the financial statements of an entity.
An internal auditor is someone who is either appointed in-house or through an external agency
for checking up the daily working transactions of an entity. He does his checking to the nitty-
gritty details, going from scratch to conclusion. An internal auditor is more concerned with
documentation lacunae, system and process checks, and documentation completeness. The flaws
or shortcomings noticed by him are brought to the notice of the management on a regular
interval, say monthly or quarterly.
An external auditor is appointed either through a thrid party agency, or on the recommendation
of the shareholders/directors, and does the statutory audit of a Company, which involves
checking the correctness and accuracy of its financial statements for a particular financial year,
and presenting the same before the Board of Directors as well as Shareholders. A major part of
the external auditor\'s work relies on sample vouching and checking, whereby by selecting a
particular sample of transactions in each area of operations, they can convince themselves of the
correctness and completeness of the transactions booked. Further, he also ensures that the
financial statements are in line with the reporting requirements as per the latest applicable
Corporate Laws.
The main point of distinction between an Internal Auditor and External Auditor lies in the fact
that although both of them point out lacunae or issues in the system or scale of operations, for an
internal auditor ,the responsiblity also involves ensuring that the lacunae are corrected
immediately, and the statutory audit is conducted smoothly. Whereas, the issues as pointed out
by an external auditor are put before the Board of Directors for discussion, and only after getting
approved, are they implemented in either the current period financial statements (if they have a
material impact on the financials), or in the forthcoming years\' financial accounts..
BCom Auditing and Corporate Governance Notes-1.pdfMystatus4
In this Slides we have Provided BCom Auditing and Corporate Governance most important Questions and Answers with some important Points and notes which helps you to score good marks.
If you want more information regarding this topic then please visit our sites https://www.thetreasurenotes.in and https://www.proedunotes.in
Internal Vs. External Auditors Auditing is a very important part o.pdfanonamobilesp
Internal Vs. External Auditors
Auditing is a very important part of a company\'s on going success. Companies utilize both
internal and external auditors for different reasons all together. Both processes are very important
to a company\'s success. This being said, what are the differences between internal and external
auditors, and when should they be used? Internal auditors work within an organisation and report
to its audit committee and/or directors. They help to design the company’s organising systems
and help develop specific risk management policies. They also ensure that all policies
implemented for risk management are operating effectively. The work of the internal auditor
tends to be continuous and based on the internal control systems of a business of any size.
External auditors are independent of the organisation they are auditing. They report to the
company’s shareholders. They provide their experienced opinion on the truthfulness of the
company’s financial statements and perform work on a test basis to monitor systems in place.
There are three key differences in the activities of internal and external auditors. Each is
discussed in depth below:
Appointment
External auditors are appointed by the shareholders of a company, although this usually comes
through discussion with directors. External auditors must be appointed from a different company
independent of their own whilst internal auditors are usually employees of the organisation.
Keeping clients happy as an external auditor is often more difficult than internally as you already
know those around you in the second instance.
Objectives
The objectives for an external auditor are usually defined by statute whilst management will set
the objectives for internal audits. External auditors generally have free reign to examine and
assess every aspect of the system whilst management can pinpoint and highlight certain areas
they want internal auditors to focus on. There are various types of internal audit.
Responsibility
External auditors are responsible to the owners of the company which could be anybody from its
owners to the shareholders to the government or general public. Internal auditors are responsible
solely to the company’s senior management.
An internal audit is designed to look at the key risks facing the business and how the business is
managing those risks effectively. It usually results in recommendations for improvement across
departments. Both financial and non-financial elements are usually included and the company’s
reputation may be a factor which is assessed.
An external audit focuses on finance and the key risks associated with the business’ financial
business. They are usually performed on at least an annual basis to provide the annual statutory
audit of the financial accounts. This audit is designed to show whether the accounts are a true
and fair reflection of where the company sits financially. External auditors will evaluate all the
internal controls put in pl.
5. An examination of records or financial accounts to check their
accuracy.
Auditing is a systematic examination of the books and records
of a business or the organization in order to ascertain or verify
and to report upon the facts regarding the financial operation
and the result thereof.
6. Basis of Organizational Structure
Based on Timing & Scope of Audit Procedures
Basis of Specific Objectives behind Audit
7.
8. Where undertakings are formed under the statute or laws, audit
for such undertakings I made compulsory under the statute that
govern them.
An audit undertaken under any statute or law is called statutory
audit.
A qualified external auditor can conduct a statutory audit.
9. Private Audit is one that is not mandatory under any statute or
law. It is undertaken by the enterprises in view of the several
benefits resulting from it.
Audit of Sole Proprietorship
Audit of accounts of other entities
Audit of Partnership Firm
10. The government offices, departments, under-takings registered
as companies, are also subject to independent financial audit.
Usually a statutory auditor, appointed by the General
Government on the advice of the Comptroller and Auditor
General, audits accounts of government companies
11.
12. A continuous audit is one where the auditor is required to examine the
books of account of a business concern at regular intervals say
weekly, fortnightly, and quarterly or as per the requirement of the
management and quantum of work.
Continuous audit is followed in big organizations, where business is
extraordinarily large.
It is also known as “Running Audit”.
13. Internal audit as the term implies is an audit conducted within the
organization by an internal auditor appointed by the management
of an enterprise.
To ensure that all the assets of the organization are safe-guarded
against any probable misuse.
To highlight the weak areas of the organization and give
suggestions to strengthen them.
14. Interim Audit is one that relates to an interim period and not to the
full accounting year. It is conducted between two regular audits.
It lies between final audit and continuous audit.
It may be monthly quarterly or half yearly. When any partner or
owner or director or a businessman wants to know the reliable
results during the financial year then such type of audit may be
applied.
15. A final audit is one where the auditor undertakes the audit work
only at the end of the financial year.
The auditor visits his client only once a year and completes the
entire work in one session.
16. It is a procedure in which the figures, as stated in the balance sheet
are taken as a base and their authenticity is verified from the
records.
It involves the checking of values and provisions, surplus, etc.
An auditor should also verify the profit or loss from the profit and
loss account since profit or loss is one of the balance sheet items.
17.
18. Cost Audit as the expression implies, is an audit of cost
accounting record. It has been defined in various ways.
“The term „Cost Audit‟ means the detailed checking of the
costing system, techniques and accounts to verify their
correctness and to ensure adherence to the objectives of cost
accountancy”.
19. Central Government may at any time, by order direct that a
special audit of a company‟s accounts for such period or periods
as may be specified in the order shall be conducted and may by
the same or a different order appoint either a chartered
accountant or the company‟s statutory auditor to conduct such
special audit.
20. This is done to ensure that each individual or company pays
his/her/its full tax liability.
Audits are conducted on a random basis, or when something
appears remiss on a tax return.
21. Management Audit refers to critical and analytical
examination of the performance of different managerial
functions in an organization.
It involves a critical review of all aspects of the process of
management.
22. Operational Audit aims at improving the overall performance of
a business undertaking by improving future business operations
carried out by the management.
To conduct such audit normally an independent internal auditor
is appointed.
23. A Marketing Audit is a comprehensive, systematic, independent
and periodic examination of a company‟s or business unit‟s
marketing environment, objectives, strategies and activities with
a view to determining problem areas and opportunities and
recommending a plan of action to improve the company‟s
marketing performance.
24. Environmental Audit, is a process to examine the effects -good
or bad- of the operations of an enterprise on the environment.
Environmental Audit is an assessment of the nature and extent
of harm (or risk of harm) to the environment posed by an
industrial process or activity, waste, substance or noise.
25. Social Auditing is a process that enables an organization to
assess and demonstrate its social, economic and environmental
benefits and limitations.
Audit attempts to assess the social performance of an enterprise.
26. A Human Resource Audit reviews an organization‟s policies,
procedures, and practices concerning human resources.
Its purpose is to examine the technical and practical dimensions
of the human resource function and to create a comprehensive
system that adds value to the organization.
27. The General Audit alternatively called mini audit, site energy
audit or complete site.
This type of audit will be able to identify all energy
conversation measures appropriate for the facility given under
its operating parameters.