Use of Internal Auditors work by an External Auditor

External Audit is an critical function for both the company and the auditor. The audit procedure must be conducted in prescribed manner abiding by standards set for auditing. The Auditing and Assurance Standards Board of ICAI keeps on issuing "Implementation Guides" from time to time. Such implementation guides help auditors understand a standard better. It also provides guidelines related to practical problems faced by auditors in practical implementation of audit standards.



All you need to know about Micro Small and Medium Enterprises MSMEs

What’s MSME?
MSME stands for Micro, Small and Medium Enterprises. MSME represents a collection of all small to medium sized enterprises in an economy. In a developing economies like India, MSME play a vital role in growth of the economy.
In this article, we shall discuss and understand following points in relation to MSME industries from Indian perspective.


The Financial Resolution and Deposit Insurance FRDI Bill

Since Independence, Bank Fixed Deposits is one of the most popular investment options for common men in India. However, recent changes in the economic trends & Government policy has compelled common men to rethink about the their most favourite investment avenue. Moreover, the recent bill tabled in the parliament called the Financial Resolution and Deposit Insurance (FRDI) has caused lot of rumours and concerns among common men. If this bill is passed, Bank FD may become one of the least preferable investment option among small house hold investors in India.


Popular Accounting Careers in Indian Defence Forces 1

In the armed forces, accounting has an essential role to play as it aids in strategic planning, cost-cutting and effective disbursement and spending of public resources and nation’s defence capital. For this purpose, Indian Military —Indian Army, Indian Navy and Indian Air Force has always kept open doors to recruit eligible accounting personnel and executives.

Although their selection procedures are rigorous and systematic, if you are one of the budding accountants, it is simply worthwhile to explore accounting careers in the Indian army rather than limiting your choices to just MNCs and private financial and accounting corporations.


Gross Domestic Product The Macroeconomic Measure of an economys performanceAdd subheading

Gross Domestic Product:

Gross Domestic Product or GDP is one of the measurement which economists, governments and investors use to measure productivity and growth of an economy. GDP represents the total monetary value of all the final products / services produced by all people and organisations over a given period of time. The Organisation for Economic Co-operation and Development (OECD) defines GDP as "an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs).” As per International Monetary Fund (IMF) "GDP measures the monetary value of final goods and services - that are bought by the final user - produced in a country in a given period of time (say a quarter or a year).". By far, GDS is one of the most powerful measure to indicate productiveness of a country in the world.


The Accountants Guide to Important Microsoft Excel Functions

Microsoft Excel is one the quintessential software programs used in the business community across the world for recording financial data to aid their planning, budgeting, forecasting and decision making processes. With the Google Drive, accounting enterprises are able to take the advantage of cloud to facilitate anytime, anywhere access to financial data.

Even after decades since its launch, MS Excel continues to remain the industry’s favourite for a host of reasons but, mainly due to its intrinsic nature of simplifying complex calculation using advanced formulae and IF functions. In the U.S. alone, about 69 percent of the companies reportedly use Excel, as per the 2016 Accounting and Finance Function reports by Robert Half.

Financial Management