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Routine Checking

Routine Checking

Routine Checking Regular checking of all the daily transactions is known as Routine Checking. It is the usual monitoring of business accounts, books and ledgers to establish how the business is implementation and to distinguish any errors that might have occurred, either fortuitously or deceptive.....

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Differences between Internal Audit and Statutory Audit

Differences between Internal Audit and Statutory Audit

Differences between Internal Audit and Statutory Audit An internal audit refers to an ongoing audit function performed within an organization by a separate internal auditing department. It is conducted by the permanent staff of the same office to detect weakness in system, procedures and for the .....

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Objectives of Vouching

Objectives of Vouching

Objectives of Vouching Main objective of vouching is to find out the regularity or irregularity of transactions, frauds, and errors. It means to prove an entry in the accounting record with documentary evidence as well as to see that transaction has been properly authorized and recorded in the bo.....

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Meaning of Vouching

Meaning of Vouching

Meaning of Vouching Voucher is known as the evidence for the support of a transaction in the books of account. It may be a bill, receipts, requisition form, agreement, decision, bank paying slip, etc. To vouch means to search for evidence and verify a claim asserted. It is a technical term which.....

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Significance of Vouching

Significance of Vouching

Significance of Vouching Vouching is the act of checking evidential documents to find out errors and frauds and to know the authenticity, accuracy, and reliability of books of accounts. It is known as the evidence for the support of a transaction in the books of account. It tests the truth of ite.....

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Ludlamite: Properties and Occurrences

Ludlamite: Properties and Occurrences

Ludlamite is a rare phosphate mineral with formula: (Fe, Mn, Mg)3(PO4)2·4H2O. It is a classic phosphate mineral. It is a mineral occurring in small, green, transparent, monoclinic crystals. It is a hydrous phosphate of iron. It was first described in 1877 for an occurrence in Wheal Jane mine in .....

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Which Factors to be Considered while Vouching?

Which Factors to be Considered while Vouching?

Vouching helps to prove the truth and fairness of account by detecting errors and frauds. It is known as the evidence for the support of a transaction in the books of account. An auditor will examine the efficiency and reliability of internal check before beginning to vouch for cash payments. So.....

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Loveringite: Properties and Occurrences

Loveringite: Properties and Occurrences

Loveringite is a rare metallic oxide mineral of the crichtonite group with the chemical formula (Ca, Ce) (Ti, Fe, Cr, Mg)21O38. It is a trigonal-rhombohedral black mineral containing aluminum, calcium, cerium, chromium, iron, magnesium, oxygen, titanium, vanadium, and zirconium. It is a late-stag.....

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Which Points should be Considered while Vouching of Cash Transactions?

Which Points should be Considered while Vouching of Cash Transactions?

Vouching of a cash transaction is the most important job of an auditor. It is the essence of the Auditing. The object of vouching is to Gain assurance regarding the existence assertion. Before setting the program of vouching, an auditor should inquire carefully into the whole system of internal.....

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Concept of Audit of Impersonal Ledger

Concept of Audit of Impersonal Ledger

Concept of Audit of Impersonal Ledger Impersonal ledgers are also called General Ledgers or Nominal Ledgers. Impersonal accounts refer to real accounts and nominal accounts which are related to a trading account, profit and loss account, and balance sheet. Nominal accounts are related to Tradi.....

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Article On Child Labour

Article On Child Labour

“Child Labour” The term “child labour” is often defined as work that deprives children of their childhood, their potential and their dignity, and that is harmful to physical and mental development. It refers to work that: is mentally, physically, socially or morally dangerous and .....

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Article On Health And Fitness

Article On Health And Fitness

Health can, generally, be measured on major three parameters: Physical, Psychological and Nutritional. Physical health means the physical appearance of a person; Nutritional health means the presence of essential nutrients in the body to fight diseases with immunity. Psychological health means th.....

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