Notes and Study material for Exams
RAS MAINS REVISION: Part III Auditing and Accounting Social Audit: It is a tool through which government department can plan, manage and measure non-financial activities and monitor both internal and external consequences of the department social and commercial operation. OR Social Audit is an independent evaluation of the performance of an organisation as it relates … Read more
Part C Accounting and Auditing; Budgetary Control: Definition: Budgetary control is the process by which budgets are prepared for the future period and are compared with the actual performance for finding out Variance. Obj. of BC: Define the objectives of the organisation Providing plans to achieve the objectives Coordinating the activities of various departments … Read more
Code of ethics Ethics codes are as old as antiquity. Religious traditions and civic cultures have codes as their foundations. The Mosaic Decalogue (Ten Commandments) is the keystone for Judaism, Islam and Christianity. Pericles made the Athenian code the underpinning of ancient Greek politics and culture. In each case codes carry general obligations and admonitions, … Read more
The Comptroller and Auditor General (CAG) promotes accountability, transparency and Good Governance through high quality Auditing and accounting.The Comptroller and auditor general (CAG) of India is empower to audit all expenses from the combine Fund of the union or state governments, whether incurred within India or outside. The Comptroller and Auditor General of India (CAG) … Read more
Rajasthan Mineral Policy 2015 – Rajasthan may put about 400 small size mining leases of Minerals like granite,marble and quartz under the hammer in 2015 as it looks to expand its area under mining as well as increase revenue. – 9% of total mineral production in the country, is also exploring joint ventures (JV) … Read more
The Comptroller and Auditor General (CAG) promotes accountability, transparency and Good Governance through high quality Auditing and accounting.The Comptroller and auditor general (CAG) of India is empower to audit all expenses from the combine Fund of the union or state governments, whether incurred within India or outside. The Comptroller and Auditor General of India (CAG) … Read more
An internal control is a procedure or policy put in place by management to safeguard assets, promote accountability, increase efficiency, and stop fraudulent behaviour. In other words, an internal control is a process put in place to prevent employees from stealing assets or committing fraud. An internal control is a business practice, policy or … Read more
Profit and loss IMPORTANT FACTS Cost Price: The price, at which an ARTICLE is purchased, is called its cost price, abbreviated as C.P. Selling Price: The price, at which an article is sold, is called its selling prices, abbreviated as S.P. Profit or Gain: If S.P. is greater than C.P., the seller is said to have … Read more
Current Status It is the largest and fastest growing sector globally contributing to the global output and employing more people than any other sector Why has services sector grown? Increase in Urbanisation, privatisation and more demand for intermediate and final consumer services Availability of quality services is vital for the well being of the economy … Read more
The following are subtopics of transfer pricing: Arm’s length principle OECD Transfer Pricing Guidelines Internal comparables External comparables Transactional net margin method Profit split method Comparable uncontrolled price method Cost plus method Formulary apportionment Advance pricing agreements Mutual agreement procedures Transfer pricing documentation Transfer pricing audits Transfer pricing penalties Transfer pricing disputes Transfer pricing enforcement … Read more