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8/11/2019 UploadedFile_130536024036980355


ADVANCE AUDITING 2013-2014

A PROJECT

ON

“Project Report on Compn! A"#$t o% T$rt&roop E'ectr$c'( P)t* +t#,

In t&e ("ject A#)nce A"#$t$n.

/UITTED TO

UNIVER/IT O UAI

OR /EE/TER-IV O

A/TER O COERCE

/UNITA UARI ADAV

CO PART-II AND RO++ NO- 3501

UNDER T6E GUIDANCE O

R* GAJANAN 7ADER

EAR- 2013-2014

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DEC+ARATION T6E /TUDENT

I8 /UNITA UARI ADAV (t"#ent o% CO PART-II Ro'' N"mer 3501&ere! #ec're t&t t&e project %or t&e Pper A#)nce A"#$t$n. t$t'e#8


/"m$tte# ! me %or (eme(ter-IV #"r$n. t&e c#em$c !er 2013-20148 $( (e# on ct"'9or: crr$e# o"t ! me "n#er t&e ."$#nce n# ("per)$($on o% R* GAJANAN7ADER*

I %"rt&er (tte t&t t&$( 9or: $( or$.$n' n# not ("m$tte# n!9&ere e'(e %or n!e;m$nt$on*

/$.nt"re o% /t"#ent

EVA+UATION CERTIICATE

T&$( $( to cert$%! t&t t&e "n#er($.ne# &)e ((e((e# n# e)'"te# t&e project on


/"m$tte# ! /UNITA UARI ADAV /t"#ent o% CO Prt-II*

T&$( project $( or$.$n' to t&e e(t o% o"r :no9'e#.e n# &( een ccepte# %or $ntern'

((e((ment*

Intern' E;m$ner E;tern' E;m$ner )$ce Pr$nc$p'e

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PI++AI</ CO++EGE O ART/8 COERCE = /CIENCE

Intern' A((e((ment> Project 40 r:(

Nme o% /t"#ent

$r(t Nme> /UNITA UARI

t&er<( Nme> //"rnme> ADAV

COPART II 3501

C'(( D$)$($on Ro''N"mer*

/"ject> A#)nce A"#$t$n.

Top$c %or t&e Project>


r: A9r#e#

DOCUENTATIONIntern' E;m$ner?O"t o% 10 r:(@

E;tern' E;m$ner?O"t o% 10 r:(@

Pre(entt$on?O"t o% 10 r:(@

V$) n# Interct$on?O"t o% 10 r:(@

/$.nt"re

TOTA+ AR/ ?O"t o% 40@

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C6APTER NO*

1*

2*

3*

Intro#"ct$on

et"re O% Compn!

TOPIC PAGE NO*

1

2

4Acco"nt$n. Recor#( An# $nnc$' /ttement$nt$ne# ! T&e Compn!

D$(c'o("re O% Acco"nt$n. Po'$c$e(

en$n.8 De%$ne An# D$%%erence In A"#$t ReportAn# A"#$t Cert$%$cte

T!pe O% A"#$t Report

E((ent$'( O% Goo# A"#$t Report

Ao"t Compn! An# Ann"' Report

Pro%$t An# +o(( AC An# 'nce /&eet

Gener''! Accepte# A"#$t$n. /tn#r#(

Acco"nt$n. /tn#r#( ?C"rrent'! App'$c'e An#U(e# In Compn! Or Not@Acco"nt /cr"t$n$Be# rom 'nce /&eet An#Pro%$t An# +o(( Acco"nt

Dr%t O% An A"#$t Report

Conc'"($on

4*

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5*

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F*

10*

11*

12*

13*

14*

F

11

14

1F

21

24

2

2

31

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INTRODUCTION

In#"(tr$' &( re)o'"t$on 'e# to t&e emer.ence o% 'r.e (c'e "($ne(( or.n$Bt$on(*

T&e(e or.n$Bt$on re"$re $. $n)e(tment( n# t&e r$(: $n)o')e# $( )er! &$.&* +$m$te#re(o"rce( n# "n'$m$te# '$$'$t! o% prtner( re t9o $mportnt '$m$tt$on( o% prtner(&$p(

o% prtner(&$p( $n "n#ert:$n. $. "($ne((* Jo$nt /toc: Compn! %orm o% "($ne((

or.n$Bt$on &( ecome e;treme'! pop"'r ( $t pro)$#e( (o'"t$on to?2@ o)ercome t&e

'$m$tt$on( o% prtner(&$p "($ne((* T&e "'t$nt$on' compn$e( '$:e Coc-Co' n#8

Gener' otor( &)e t&e$r $n)e(tor( n# c"(tomer( (pre# t&ro".&o"t t&e 9or'#* T&e

.$nt In#$n Compn$e( m! $nc'"#e t&e nme( '$:e Re'$nce8 T'co jj A"to8 In%o(!(

Tec&no'o.$e(8 6$n#"(tn +e)er +t#*8 Rn;! +ortor$e( +t#*8 n# +r(en n# T"ro

etc*

en$n. o% Compn!

/ect$on 3 ?1@ ?$@ o% t&e Compn$e( Act8 1F5 #e%$ne( compn! ( “ compn! %orme#

n# re.$(tere# "n#er t&$( Act or n e;$(t$n. compn!,* /ect$on 3?1@ ?$$@ O% t&e ct (tte(

t&t “n e;$(t$n. compn! men( compn! %orme# n# re.$(tere# "n#er n! o% t&e

pre)$o"( compn$e( '9(,* T&$( #e%$n$t$on #oe( not re)e' t&e #$(t$nct$)e c&rcter$(t$c(

o% compn! * Accor#$n. to C&$e% J"(t$ce r(&'' o% U/A8 “A compn! $( per(on8

rt$%$c$'8 $n)$($'e8 $ntn.$'e8 n# e;$(t$n. on'! $n t&e contemp't$on o% t&e '9* e$n.

mere cret"re o% '98 $t po((e((e( on'! t&o(e propert$e( 9&$c& t&e c&rcter o% $t(

cret$on o% $t( cret$on con%er( "pon $t e$t&er e;pre(('! or ( $nc$#ent' to $t( )er!

e;$(tence,*

Anot&er compre&en($)e n# c'er #e%$n$t$on o% compn! $( .$)en ! +or# J"(t$ce

+$n#'e!8 “A compn! $( ment n ((oc$t$on o% mn! per(on( 9&o contr$"te mone! or

mone!<( 9ort& to common (toc: n# emp'o!( $t $n (ome tr#e or "($ne((8 n# 9&o

(&re t&e pro%$t n# 'o(( ?( t&e c(e m! e@ r$($n. t&ere %rom* T&e proport$on o%

cp$t' to 9&$c& ec& memer $( ent$t'e# $( &$( (&re* /&re( re '9!( trn(%er'e

't&o".& t&e r$.&t to trn(%er t&em $( o%ten more or 'e(( re(tr$cte#,*

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EATURE/ O A COPAN

T&e m$n c&rcter$(t$c( o% compn! re>

1* Incorporte# ((oc$t$on*

A compn! $( crete# 9&en $t $( re.$(tere# "n#er t&e Compn$e( Act* It come( $nto

e$n. %rom t&e #te ment$one# $n t&e cert$%$cte o% $ncorport$on* It m! e note# $n

t&$( connect$on t&t /ect$on 11 pro)$#e( t&t n ((oc$t$on o% more t&n ten

per(on( crr!$n. on "($ne(( $n n:$n. or n ((oc$t$on or more t&n t9ent!

per(on( crr!$n. on n! ot&er t!pe o% "($ne(( m"(t e re.$(tere# "n#er t&e

Compn$e( Act n# $( #eeme# to e n $''e.' ((oc$t$on8 $% $t $( not (o re.$(tere#*

or %orm$n. p"'$c compn! t 'e(t (e)en per(on( n# %or pr$)te compn! t

'e(t t9o per(on( re per(on( re re"$re#* T&e(e per(on( 9$'' ("(cr$e t&e$r

nme( to t&e emorn#"m o% ((oc$t$on n# '(o comp'! 9$t& ot&er 'e.'

re"$rement( o% t&e Act $n re(pect o% re.$(trt$on to %orm n# $ncorporte compn!8

9$t& or 9$t&o"t '$m$te# '$$'$t! H/ec 12 ?1@*

2* Art$%$c$' 'e.' per(on*

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e;$(t( $n t&e e!e( o% t&e '9 n# cnnot ct on $t( o9n* It &( to ct t&ro".& or#

o% #$rector( e'ecte# ! (&re&o'#er(* It 9( r$.&t'! po$nte# o"t $n te( V /tn#r#

+n# Co* t&t > “T&e or# o% #$rector( re t&e r$n( n# t&e on'! r$n( o% t&e

compn!8 9&$c& $( t&e o#! n# t&e compn! cn n# #oe( ct on'! t&ro".& t&em,*

"t %or mn! p"rpo(e(8 compn! $( 'e.' per(on '$:e nt"r' per(on* It &( t&e

r$.&t to c"$re n# #$(po(e o% t&e propert!8 to enter $nto contrct 9$t& t&$r# prt$e( $n

$t( o9n nme8 n# cn ("e n# e ("e# $n $t( o9n nme*

6o9e)er8 $t $( not c$t$Ben ( $t cnnot enjo! t&e r$.&t( "n#er t&e Con(t$t"t$on o%

In#$ or C$t$Ben(&$p Act* In /tte Tr#$n. Corport$on o% In#$ ) C*T*O ?1F53 /CJ

0@8 $t 9( &e'# t&t ne$t&er t&e pro)$($on( o% t&e Con(t$t"t$on nor t&e C$t$Ben(&$p

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?en$n. n# #e%$ne o% "#$t report n# "#$t cert$%$cte@

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re(on'e (("rnce t&t e'$.$'e co(t( ?n#8 $% re'e)nt8 t&e rece$pt(@ c&r.e# "n#er

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1* T$t'e

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t&e %$nnc$' (ttement re '(o (tte# $n $t*

4* Re%erence to A"#$t$n. /tn#r#(

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t&e "#$t* T&e $nternt$on' "#$t$n. ."$#e'$ne( nee# (("rnce t&t t&e "#$t &( een

con#"cte# ( per (et (tn#r#(*

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* Op$n$on

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report %or $n%ormt$on o% t&e re#er(*

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on t&e %$nnc$' (ttement( n# $n &$( report o% e)ent( or trn(ct$on( o"t 9&$c& &e

ecome 9re t&e occ"rre# "p to t&t #te*

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Gener''! Accepte# A"#$t$n. /tn#r#(

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N

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A/

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A/15

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A/-1 DI/C+O/URE O ACCOUNTING PO+ICIE/

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A/-2 VA+UATION O INVENTORIE/

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ot&er co(t( $nc"rre# $n r$n.$n. t&e $n)entor$e( to t&e$r pre(ent 'oct$on n# con#$t$on*

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met&o# $( re"$re# 9&en .oo#( re not or#$nr$'! $nterc&n.e'e*

A/-4 CONTINGENCIE/ AND EVENT/ OCCURRING ATER T6E A+ANCE

/6EET DATE

T&e mo"nt o% cont$n.ent 'o(( (&o"'# e pro)$#e# %or ! c&r.e $n t&e (ttement o%

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A/-5 DEPRECIATION ACCOUNTING

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#$(c'o(e#*

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A/-10 ACCOUNTING OR IED A//ET/

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re)'"t$on (&o"'# e #$(c'o(e#*

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DRAT O AN AUDIT REPORT

INDEPENDENT AUDITOR</ REPORT

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Report on $nnc$' /ttement(>

1* 7e &)e "#$te# t&e ccompn!$n. $nnc$' /ttement( o% (* T$rt&roop E'ectr$c'( Pr$)te +$m$te# ?“t&e Compn!,@ 9&$c& compr$(e t&e 'nce /&eet ( t 31(t rc& 2013 n# /ttement o% Pro%$t n# +o(( %or t&e !er en#e# on t&t #te8 n# ("mmr! o% ($.n$%$cnt cco"nt$n. po'$c$e( n# ot&er e;p'ntor! $n%ormt$on*

n.ement<( Re(pon($$'$t! %or t&e $nnc$' /ttement(>

2* n.ement $( re(pon($'e %or t&e preprt$on o% t&e(e $nnc$' /ttement( t&t .$)e tr"e n# %$r )$e9 o% t&e %$nnc$' po($t$on n# %$nnc$' per%ormnce o% t&e Compn! $n ccor#nce 9$t& t&e Acco"nt$n. /tn#r#( re%erre# to $n (" (ect$on ?3C@ o% (ect$on 211 o% t&e Compn$e( Act8 1F5 ?“t&e Act,@* T&$( re(pon($$'$t! $nc'"#e( t&e #e($.n8 $mp'ementt$on n# m$ntennce o% $ntern' contro' re'e)nt to t&e preprt$on n# pre(entt$on o% t&e %$nnc$' (ttement( t&t .$)e tr"e n# %$r )$e9 n# re %ree %rom

mter$' m$((ttement8 9&et&er #"e to %r"# or error*

A"#$tor(< Re(pon($$'$t!>

3* O"r re(pon($$'$t! $( to e;pre(( n op$n$on on t&e(e %$nnc$' (ttement( (e# on o"r "#$t* 7e con#"cte# o"r "#$t $n ccor#nce 9$t& t&e /tn#r#( on A"#$t$n. $(("e# !

t&e In(t$t"te o% C&rtere# Acco"ntnt( o% In#$* T&o(e /tn#r#( re"$re t&t 9e comp'! 9$t& et&$c' re"$rement( n# p'n n# per%orm t&e "#$t to ot$n re(on'e (("rnce o"t 9&et&er t&e %$nnc$' (ttement( re %ree %rom mter$' m$((ttement*

4* An "#$t $n)o')e( per%orm$n. proce#"re( to ot$n "#$t e)$#ence o"t t&e mo"nt( n#

#$(c'o("re( $n t&e %$nnc$' (ttement(* T&e Proce#"re( (e'ecte# #epen# on t&e "#$tor(< j"#.ement8 $nc'"#$n. t&e ((e((ment o% t&e r$(:( o% mter$' m$((ttement o% t&e %$nnc$' (ttement8 9&et&er #"e to %r"# or error* In m:$n. t&o(e r$(: ((e((ment(8 t&e "#$tor con($#er( $ntern' contro' re'e)nt to t&e compn!<( preprt$on n# %$r

pre(entt$on o% t&e %$nnc$' (ttement( $n or#er to #e($.n "#$t proce#"re( t&t re ppropr$te $n t&e c$rc"m(tnce(* An "#$t '(o $nc'"#e( e)'"t$n. t&e ppropr$tene((

o% cco"nt$n. po'$c$e( "(e# n# t&e re(on'ene(( o% t&e cco"nt$n. e(t$mte( m#e ! mn.ement8 ( 9e'' ( e)'"t$n. t&e o)er'' pre(entt$on o% t&e %$nnc$' (ttement(*

* 7e e'$e)e t&t t&e "#$t e)$#ence 9e &)e ot$ne# $( ("%%$c$ent n# ppropr$te to pro)$#e ($( %or o"r A"#$t op$n$on*

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Op$n$on>

5* In o"r op$n$on8 n# to t&e e(t o% o"r $n%ormt$on n# ccor#$n. to t&e e;p'nt$on( .$)en to "(8 t&e %$nnc$' (ttement( .$)e t&e $n%ormt$on re"$re# ! t&e Act $n t&e mnner (o re"$re# n# .$)e tr"e n# %$r )$e9 $n con%orm$t! 9$t& t&e cco"nt$n.

pr$nc$p'e( .ener''! ccepte# $n In#$> ?@ $n t&e c(e o% t&e 'nce /&eet8 o% t&e (tte o% %%$r( o% t&e compn! ( t 31(t

rc&8 2013 n# ?@ $n t&e c(e o% /ttement o% Pro%$t n# +o((8 o% t&e Pro%$t %or t&e !er en#e# on t&t #te*

Report on Ot&er +e.' n# Re."'tor! Re"$rement(>

* A( re"$re# ! (ect$on 22?3@ o% t&e Act8 9e report t&t>

* 7e &)e ot$ne# '' t&e $n%ormt$on n# e;p'nt$on( 9&$c& to t&e e(t o% o"r :no9'e#.e n# e'$e% 9ere nece((r! %or t&e p"rpo(e o% t&e "#$t*

* In o"r op$n$on8 proper oo:( o% cco"nt ( re"$re# ! '9 &)e een :ept ! t&e compn! (o %r ( pper( %rom o"r e;m$nt$on o% t&o(e oo:(*

c* T&e 'nce /&eet n# /ttement o% Pro%$t n# +o(( #e't 9$t& ! t&$( report re $n .reement 9$t& t&e oo:( o% cco"nt

#* In o"r op$n$on8 t&e 'nce /&eet n# /ttement o% Pro%$t n# +o(( comp'! 9$t& t&e Acco"nt$n. /tn#r#( re%erre# to $n (" (ect$on ?3C@ o% (ect$on 211 o% t&e Compn$e( Act8 1F5

e* On t&e ($( o% 9r$tten repre(entt$on( rece$)e# %rom t&e #$rector( ( on 31(t rc&8 2013 n# t:en on recor# ! t&e or# o% D$rector(8 none o% t&e #$rector( $( #$("'$%$e# ( on 31(t rc&8 2013 %rom e$n. ppo$nte# ( #$rector $n term( o% c'"(e ?.@ o% ("-(ect$on ?1@ o% /ect$on 24 o% t&e Compn$e( Act8 1F5

%* /$nce t&e Centr' Go)ernment &( not $(("e# n! not$%$ct$on ( to t&e rte t 9&$c& t&e ce(( $( to e p$# "n#er (ect$on 441A o% t&e Compn$e( Act8 1F5 nor &( $t $(("e# n! R"'e( "n#er t&e ($# (ect$on8 pre(cr$$n. t&e mnner $n 9&$c& ("c& ce(( $( to e p$#8 no ce(( $( #"e n# p!'e ! t&e Compn!* or C6ARTERED ACCOUNTANT/

P'ce > "m$Dte > 3102013

R* A ?Propr$etor@emer(&$p No* 13254


CONC+U/ION

T&e project conc'"#e# t&t8 .$)en t&e comp'e;$t! n# #e)e'opment o% Compn!8 t&e

o)er'' 'e)e' o% comp'$nce( 9$t& t&e (tn#r#( n# co#e( $( o% &$.& or#er* T&$( project

.$)e( t&e correct $#e( o"t &o9 t&e mjor re( cn e %o"n# ! 9! o% e%%ect$)e

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(&o9 to recommen# on t&e po($t$on* Project '(o cont$n t&t &o9 to con#"ct o% "#$t o%

t&e compn!8 9&t re t&e )r$o"( proce#"re t&ro".& 9&$c& "#$t o% compn! (&o"'#

e #one* orm "#$t$n. po$nt o% )$e98 t&ere $( proper %o''o9 "p o% 9or: #one $n e)er!

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"#$t$n. $( )er! $mportnt (pect $n to#!<( (cenr$o %orm compn! n# po$nt o% )$e9*

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