Audits are of two types namely optional or private audits and statutory or compulsory audits. Basis for this classification is legal requirements with regard to conduction of audit.
Auditing is systematic examination of books and records of an organisation to confirm whether the prepared financial statements are giving true and fair view or not. Systematic investigation of books and records to fulfill a specific purpose is called investigation.
Merits of Continuous Audit and Demerits of Continuous Audit. Audits can be classified into two groups namely; periodical audit and continuous audit.
Company divides its profit into two parts one part will be transferred to reserves and the other part would be distributed to shareholders as dividend. That part of profit which is made available for payment of dividend is called Divisible Profit.
It is the statutory duty of a company auditor to give either clean report or qualified report after completion of audit work by expressing his opinion.
The liabilities of auditor can be classified as liability under optional audits and liability under statutory audits.
The tribals were the earliest fighters for the independence and their revolts were all armed movements. Santhal Rebellion, Munda Rebellion
Right and duties of company auditor are of statutory nature. The companies Act of 1956 has clearly explained the rights and duties of company auditor.
Many land reforms were initiated after independence of India. The political leaders especially Nehru always dreamt for a socialist pattern of society in India.
Preliminary steps before commencing a Company Audit; Verification of Appointment, Verification of Memorandum, Verification of Articles, Verification of Prospectus, etc.
Mahalwari system was introduced in 1833 during the period of Warren Hastings. It was introduced in Central Province, North-West Frontier, Agra, Punjab, Gangetic Valley, etc of British India.
Ryotwari System was introduced by Thomas Munro in 1820 in Madras, Bombay, parts of Assam and Coorgh provinces of British India.
Zamindari System was introduced by Cornwallis in 1793 through Permanent Settlement Act. It was introduced in provinces of Bengal, Bihar, Orissa and Varanasi.
There was an unprecedent and continuous growth of rural indebtedness under the British rule in India. The growth of Agricultural labor during British Rule.
The History of India: Integration of Indian States. The origin of the process of the integration of Indian States could be traced back to the late 18th and early 19th centuries when the England East India Company began acquiring large tracts of land in India.
Growth of Modern Industry and Capital Class in India during British Rule. The nationalists stressed on the destruction of the handicrafts sector as the chief cause underlying the poverty of India.
The Indian economy under British rule underwent a phase of arrested development. This was so, inspite of the fact that most pre-requisites for economic development were met by India even prior to the British advent.
Indian handicrafts were famous all over the world. The fine silk fabrics were manufactured at Murshidabad, shawl making industry was localized in Kashmir, Bengal and Gujarat were famous for their cotton and Muslin-fabrics.
Commercialisation of Agriculture during British Rule in India; Revolutionary changes had occurred in the agrarian property relations towards the end of the 18th century. This was over a period of time, followed by a commercial revolution in the agricultural sector. Commercialization of agriculture...
Structure and Functions of Industrial Management. The Nature of Management, Management Structure, Managerial Behaviour and Decision making. The management is to forecast and plan, to organize, to command, to coordinate and to control.
Social Interaction and Social Processes. Social interaction is mutual influences that individual and groups have on one another in their attempt to solve problems and their strining towards goals. Nature of Social Interaction.
Humidity and Precipitation. Humidity is the amount of water vapor present in the atmosphere. Also see what is precipitation and the process of condensation leading to the precipitation.
The monsoon is a system of winds in which the direction of the winds is reversed between the summer and the winter season. Local winds owe their characteristics to the local topography or the local temperature conditions.
Homology means similarity in origin implying a common ancestor, Homoplasy means similarity in appearance but not in origin, and Analogy means similarity in function but not in origin. Serial homology is the similarity of structures between one part of an animal with another, part of the same animal.
A phratry can be defined as a unilineal descent group composed of two or more clans. When a society is divided into two groups so that every person is necessarily a member of one or the other groups, the dichotomy results in the formation of two moieties.
Social and Economic Conditions in Mauryan Age. Scholars writing on the Mauryan social organisation have often quoted Megasthenes and his division of Indian society into the following seven categories: philosophers, cultivators, herdsmen, artisans and traders, soldiers, overseers and councilors.
Humid Mesothermal Climate is the climate typical of the equator-ward parts of the temperate regions where the temperatures generally do not fall very low and they remain around 10 deg. C. Humid Microthermal Climate is also known as the taiga type of climate, so named after the type of forests...
Types of Climate. Major climatic types found on earth; Tropical Climate, Dry Climate, Polar Climate and The Highlands Climate.
Ashoka's policy of dhamma has often been equated with his conversion to Buddhism. He is credited with the propagation of the tenets of the Buddhist sect. But as we have seen earlier, this interpretation is based on an unquestioned acceptance of Buddhist texts which narrate several stories connected...
The surface of the earth is not uniform. This is the basis of identification of various types of landforms. The oceans and continents are the landforms of the first order.
The social rule that one must marry someone from outside one's own group is called exogamy. Exogamy is a rule that requires an individual to marry outside of a culturally defined group of which he or she is a member.
Movements of the Earth, revolution, and rotation. The earth has two motions, the rotation and the revolution. The earth revolves around the sun and also rotates on its own axis.
Archaeological anthropology attempts to reconstruct the cultural forms of the past and to trace their growth and development in time. In this, historians, cultural historians and archaeologists share the same objective.
Psychology is the science of human behavior. Even anthropology encompasses in its scope the understanding and analysis of human behavior. Both anthropology and psychology are closely related.
Sociology studies human behavior in groups. It is a science of societies. Anthropology is a science of man and studies human behavior in social surroundings.
Kinship is a relationship between any individuals who share a genealogical origin, through either biological, cultural, or historical descent. It is one of the most basic principles for organizing individuals into social groups, roles, categories, and genealogy.
Oceans are sources of a number of useful resources. Food Resources of Oceans, Mineral Resources of Ocean, Energy Resources of Ocean. Oceans Resources, Ocean Minerals and Resources.
Origin of the Earth, Theories and Hypothesis On The Origin Of The Earth. Kant's gaseous hypothesis, Laplace's nebular hypothesis, Jeans and Jeffreys tidal hypothesis.