We all know that audit safeguards the financial interests of those who are not directly associated with a company’s management such as shareholders, creditors, and…
The basic duty of an auditor is to examine the books of account and relevant documents so that he can report on the financial condition…
What is this resolution for? The specimen of board resolution provided in this blog is for taking premises on lease by a Company for use…
Error and Fraud in Audit: You must be knowing that the primary objective of an audit is to express an opinion on the truthfulness and…
Case name: Upton Rural District Council vs Powell (1942) All E.R. 220 Year: 1942 Jurisdiction: The Court of Appeal What is the case about? The…
MCQ on Company’s Directors: Directors play a significant role in managing and overseeing the functions of a company. A company is an artificial legal entity…
We enter into many contracts in our day-to-day life. Sale and bailment are two of them. A “contract of sale” is a simple contract in…
A revaluation account is an account that is opened at the time of reconstitution of a partnership firm. That is, whenever a new partner is…
Understanding Memorandum Revaluation Account: Whenever there is a change in a partnership business in the form of admission of a new partner, retirement or death…
The main difference between a Revaluation Account and a Realisation Account is that while the former is prepared at the time of reconstitution of a…