Tag Archives: #FinancialAudit

What are the key financial statements audited in a Organizations, Charitable and Social Service?

Key Financial Statements Audited Organizations involved in charitable and social services undergo financial audits to ensure transparency and accountability. The key financial statements audited in such organizations are: 1. Income and Expenditure Statement: This statement provides a summary of the organization’s revenues and expenses during a specific period. It outlines the sources of income,… Read More »

Turnover certificate verification?

Turnover certificate verification Turnover certificate verification: To verify a turnover certificate, you can follow these general steps: 1. Examine the Certificate: Carefully review the turnover certificate provided to you. Check for the presence of essential details, such as the company name, address, contact information, financial year, turnover amount, and any other relevant information. 2.… Read More »

What type of financial reports does the business/organization prepare?

Financial Reports Businesses and organizations typically prepare various financial reports to assess their financial performance, communicate financial information to stakeholders, and support decision-making. Some common types of financial reports include: 1. Income Statement (Profit and Loss Statement): This report summarizes the revenues, expenses, and resulting net income or net loss over a specific period.… Read More »

Turnover certificate sample?

Turnover certificate sample [Your Company Logo] [Company Name] [Company Address] [City, State, ZIP Code] [Phone Number] [Email Address] [Website] [Date] Turnover Certificate To whom it may concern, This is to certify that [Company Name], a registered and incorporated company under the laws of [Country], has achieved a turnover of [Amount in Currency] during the financial… Read More »

What are the objectives of preparing financial statements?

Preparing financial statements Preparing financial statements: The objectives of preparing financial statements are as follows: 1. Providing Information: Financial statements aim to provide relevant and reliable information about the financial performance, position, and cash flows of an entity. They offer insights into the organization’s financial activities, enabling stakeholders to make informed decisions. 2.Assessing Performance: Financial… Read More »

Fund utilization certificate by CA?

CA certification for fund utilization Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient’s Name] [Recipient’s Designation] [Organization Name] [Organization Address] [City, State, ZIP] Subject: Fund Utilization Certificate Dear [Recipient’s Name], I, [Your Name], a Chartered Accountant (CA) duly registered with [Certifying Authority], hereby provide this Fund Utilization Certificate for the… Read More »

Fund utilization certificate: How to Prepare Fund Utilization Certificate ?

Fund utilization certificate To prepare a fund utilization certificate, follow these steps: 1.Gather Information: Collect all relevant details related to the funds that have been allocated and utilized. This includes information about the funding source, project or program, budget, and expenditure records. 2.Understand Requirements: Familiarize yourself with the specific requirements or guidelines set by the… Read More »

Why financial statements are prepared?

Why financial statements are prepared Financial Statements are Prepare, Company financial statements are usually craft by the accounting and finance department of the company, comprising proficient accountants, financial analysts, and other experts well-versed in financial reporting. The Financial Statements are Prepare encompasses various stages, which include: 1.Gathering Financial Data: The accounting team collects and… Read More »

How to prepare financial analysis report?

Preparing financial analysis report Preparing financial analysis report: entails the examination and interpretation of financial information to evaluate a company’s performance and overall financial well-being. Here are the steps to prepare a financial analysis report: 1. Gather Financial Statements: Collect the financial statements of the business, including the balance sheet, income statement, and cash… Read More »

No statutory dues certificate format?

No Statutory Dues Certificate A “no statutory dues certificate” is a document that confirms the absence of any outstanding statutory obligations or dues owed by an individual or organization. It serves as a declaration that all required statutory payments, such as taxes, fees, penalties, or other financial liabilities, have been duly settled. While… Read More »