Exercise 1 - jb nagar cpe study circle of wirc of icai
Exercise 1 - jb nagar cpe study circle of wirc of icai
Exercise 1 - jb nagar cpe study circle of wirc of icai
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case the work in progress the amounts for which (such works have been completed) at the commencement and at the end <strong>of</strong> the accounting period. InAudit Checklistprovided that all those items which in value individually accounts for 10% or more <strong>of</strong> the totalvalue <strong>of</strong> the raw material consumed shall be shown separately with quantities there<strong>of</strong>.Opening and closing stock <strong>of</strong> goods produced giving break up in respect <strong>of</strong> each class <strong>of</strong> goods,should be reported.Further in the case <strong>of</strong> trading companies the purchases made and the opening and closing stocksgiving break up in respect <strong>of</strong> each class <strong>of</strong> goods traded and indicating the quantities there<strong>of</strong>should be reported.19 Rakesh Agarwal