Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Control Problems in Charities
1. Door to door collections: Volunteers should be mattered along with numbered boxes, the boxes should be sealed, and the boxes should be opened and counted regularly preferably in the presence of the volunteer and one or more trustees. All contents should be promptly entered in a register kept for that purpose and banked. The entries in the book should be initialled through those counting.
2. Donations received through post: Two people involving a trustee should open the mail. Receipts have to be entered in a register remained for the reason and the entries initialled. Banking should be instant.
3. Deeds of covenant: A register of donors within deed should be remained. Checks should be created regularly to see that each and all amounts have been obtained or donors followed up.
4. Harambee and another fund raising event: The plans for the events particularly expenditure should be approved in advance through the trustees. Records should be remained of all details of these events. Individuals have to be politely guided in their financial duties. Each and all cheques and cash should go to the society's bank account. All incomes should be calculated in the presence of a trustee and banked promptly. An account should be drawn up after the event approved through the trustee and publicised to each and all the members.
5. Donations of materials and equipment: A full register of that donation should be maintained. An estimate should be created of the market value of all items. Protection materials should be appropriately stored.
6. All cash payments should be created out of cash drawn from the bank, unless any donor objects the yearly report should obtain a full list of donors. The yearly report and the accounts should be as detailed as possible.
Long Term Contracts - Audit Process The authoritative document with reference to long term contracts is IAS 11: Construction Contracts and IAS 18: Revenue Recognition, and ISA
Current Audit File The current audit file might include inter alia: a) A copy of the audited financial statements and any report prepared as a result of audit work carried out
Goodwill and Business Combinations - Intangible Assets Goodwill is the one of most strange of all assets since it cannot be differentiate from the business. It cannot be sold
You have been assigned to carry out a stock take in a company. Your Audit Supervisor has given you with an audit programme. As part of a briefing session to your juniors, you a
Meaning of True in Auditing Meaning of 'true and fair'/present fairly' Truth in accounting is quite different form scientific truth. Accounting does without a deal along w
Information in the Fixed Assets Register The register can obtain the following information: i. Fixed asset number. ii. The cost and the date of purchase. iii. Descrip
the features of statistical sampling
how to calculate materiality given the acoountin period information
what is design and operation
Forms of evidence a) Observation: is usually witnessing internal control and book-keeping procedures. It includes attendance at wages pay out. Observation of stock-take, open
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd