Lecture 20 | CA Inter Audit Fastrack For Jan 2025 Exam | Chapter 5 Audit Of Items Of FS |
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- Опубліковано 3 гру 2024
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✅ With 10 years of teaching experience and the distinction of becoming one of India's youngest Chartered Accountants at the age of 21, RJ Sir simplifies complex concepts with remarkable ease.
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✅ RJ Sir's teaching style engages students with real-world scenarios, drawn from his prior work with Fortune 500 clients, and many of his mentored students have gone on to become successful professionals.
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✅ Join us on this educational journey to unlock your full CA potential and beyond.
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How to approach this chapter(Imp) 10:16
assertion 26:00
P&L captions 46:01
additional disclo... relating to P&L(Schedule III -based) 1:52:30
thank you so much sir ji
Thanku bhai
Best teacher ever and still continuing to be THE best your Fastrack lectures are better than compared to some teachers* ( all ) regular lectures
Only Fastrack is enough or to do something
00:20 Chapter 5 covers the audit of items in Financial Statements.
06:03 The weightage of the chapter is 12 to 20 marks
10:34 Audit process and time management
12:38 Significance of specific questions in each chapter
17:08 Understanding and applying assertions in auditing
19:08 Understanding the importance of specific chapters in the audit of financial statements.
22:56 Chapter 5 Audit Of Items Of FS is discussed with detailed instructions
24:40 Preparation for specific questions in audit exams
28:30 Management's responsibility in financial statement representation.
30:47 Understanding the significance of depreciation and amortization in financial statements
35:43 Importance of checking purchase invoice for goods
37:49 Understanding the appropriateness of transaction amounts
41:40 Understanding the cut-off procedures in audit
43:33 Presentation and Disclosure Assertion in FS Audit
47:44 Understanding and verifying other expenses.
51:49 Valid supporting documents for expenditure are required
56:05 Understanding the escalation clause in rental expenses.
58:19 Understanding professional fees and legal agreements
1:02:10 Understanding other income including interest and deposits
1:04:03 Audit of Fixed Deposits
1:07:45 Criteria for recognizing dividends in PNL
1:09:41 Recording Other Income and Recognizing Gains and Losses
1:14:13 Understanding internal controls in purchase and sales
1:16:16 Importance of Substantive Audit Procedures
1:20:17 Importance of confirming transactions in audit
1:22:43 Importance of cut-off in recording transactions
1:26:52 Understanding stock composition analysis
1:28:46 Discussion on Creditors Turnover Ratio and Stock Turnover Ratio
1:33:16 Substantive audit increases assurance
1:35:03 Notice period varies from one to three months in India and can be much shorter in the western world.
1:38:39 Control and maintenance of employee master data
1:40:51 Understanding risks in recording expenses for fictitious employees
1:44:34 Discussing employee benefits and expenses in audit
1:46:32 Key considerations for auditing depreciation and amortization
1:50:38 Depreciation and Amortization Calculation
1:52:44 Discussion on Audit Of Items Of Financial Statements
1:57:07 Importance of Disclosure in Audit
1:58:57 Understanding disclosure requirements for cases and properties
2:03:12 Understanding financial statement disclosure requirements
2:05:35 Audit procedures for detecting fictitious sales
2:09:56 Recognition of income from scrap
2:11:49 Discussion on ignoring compliance with certain standards
Thank you sooo much for ur effort ji❤
thank you broo much needed😁
It's only AI bro
@@PriyanandiniJaiswal yep 😊✌
Transcript copy paste ?
A different approach for this chapter was much needed! Thank you for these sessions Sir!💪
somebody give this man a Nobel prize or something, I was not going to appear for exams grp 2 in this attempt, but RJ sir does not teach, he makes you fall in love with the subject (and himself too lol) , thank you sir!, always grateful 🥹 😇😇
Agreeeed
Reach that place and award him yourself!!
✅@@VANSHI234
Yess❤
Absolutely true.
The Man
The myth
The Legend!! 🔥
dhoni
Cr7
Dhoni hai bhai usko bolte hai ye 🤣🤣🤣
1:11:13 sales and purchases
fastrack lecture ❌ regular lecture ✅
But the best conceptual clarity
I regret not taking your regular classes....just hats off MAN ! He is just amazing...
Same here😢
One different between RJ sir and other audit teacher is that other create fear of audit and RJ eliminate fear of audit
❤🎉😊🎉
I was so fearful from audit but RJ
eliminated fear of my
hello can you please send this chp pdf to me on group all parts are not available
sir i have noticed you so many times how do you quote so perfectly and accurately the SA, AS CO law k sections along with sub sections.... thats just mind blowing and also your just absolutely stunning in teaching audit sir🔥
hello can you please send this chp pdf to me on group all parts are not available
1. Occurrence 34:37 actually occurred and related to entity
2. 36:00 Completeness (no omission)
37:22 3.Measurement :- accurate in appropriate a/c
No error
Figures ok
38:42 CUT OFF current a/cing period
43:34 presentation n disclosure (sch3+as-ind.as)
45:39 income statement captions
50:50 after bug other expenses
Business related
Current period
Supporting docs
Not cap exp
Correct head
1:02:00 Other income
Interest income 1:03:35
List of fd and detail
Arithmetic accuracy
505
Interest income
Present and disclosure (heading only of above)
Imp
Rent exp 54:50
Legal exp
Power n fuel
Iss ch k notes ka pdf available h kya
sir thank you so much itne vast chapter ko simplify krne ke liye, or har chiz ko minimum time me padhane ke liye ..
Thanks sir for these lectures❤... It's very helpful for old students 🙏
Wow 😮 approach of teaching sir❤superbbbb ❤ #RJSIR❤💯 #alltimefav❤ #favsir❤💯
my prof just taught how to vouch and verify certain items, but as u said its from old ot old syllabus ka vaise qns nahi aane waale, toh sir now u are to the rescue
Wah!!! Wonderful, Awesome explanation .......Everything is clear now........I am grateful for your help
4:13 Start
1:14:00 general answer for Purchase and sales
Thanks a lot
Because of u I got conceptual clarity and scored 73 in audit
this man is simply best yarrr ......mtlb aurrr kyaa bole 🙇🙇🙇🙇🙇🙇
PDF file of the book/notes used in the lecture is available??
If yes please share it details......
@@Vicky_a.b sir ki regular book h ye
Sir you are saviour for us ..
34:35 start assertions
you are wonderful sir ❤❤.....you explained so well that i feel it is the easiest chapter of whole audit
thank you sir
Sir i don't have words for yoh very very thank you so much i faced very much difficulty for this chapter now i am able to do any questions
Thank you❤😊
Tysmm For the Session and Approach given by you to study this chapter..
The Q. Which you have told to us to mark : Sales are overstated and CSR Disclosure are the Qs. Asked in recent MTP Series 1 of May 24 i.e Exact Qs. Of 8 marks in just 2 hr lecture..
Hats off to you Sir.. Once again tysmm🙏🏻❤✨🔥
This chapter is always my nightmare....You are just awesome sir , your approach towards this chapter really made me confident to study this. Thank you so much sir 😍
thank you sir for your free lectures, PW se fastrack kharidne ke baad bhi apke YT lectures dekhke pass hua me may 24 attempt me 🙇♂🙇♂
First time k liye pw fasttrack better hai ya ye fasttrack?
@@sarthakthapliyal agar time kam hai to ye hi better hai bhai ....kaafi acha samjate hai sir ,
@@sarthakthapliyalpw me utna accha nhi smjh ayega audit mere pass regular lectures h
45:43 chapter 5 part D
1:01:43 other income part started here
How to write general question's answer on sales & purchase summary 1:33:09
Sir❌
God✅
1:24:17 there is mis interpretation
2:05:20 imp ques.
1:33:00 general question approach
just love you sir your al lectures khuppppppp bhariii love from maharastra
Start 4:25
52:39 other expenses
4:15
He turned a giant chapter into a cutie chapter, Amazing!!!❤
as an article statutory audit ke experience ke sath ye chapter padhne mein maza aa rha hai
Thankyou so much sir 😊 the way you explained and approach to deal with audit subjects was too good you made easy the techincal chapters
Income statement items :-
47:38 other exps
Very much helpful sir..tysm🙏❤️
1:52:00 schedule based
THANK YOU SOO MUCH SIR FOR THE WONDERFUL SESSION🤩🤩
Yours just too good sir ❤ amazing
1:05:11 Interest Income on FD
THANKYOU SOO MUCH SIR FOR PROVIDING CONCEPTUAL AND QUALITY SESSIONS😊😊
23:53 ❤
student : Sir nhi ho payega y chapter to
sir be like: Abhi thik krke deta hu ..
pta nhi sir kese but aapki class kbhi boring nhi hoti aur the retention power we get out of it . THANK YOU SO MUCH SIR THANK YOU THANK YOU SO MUCH .
PDF file of the book/notes used in the lecture is available??
If yes please share it details......
Ohhh...myy Ghoshh amazing way of t3aching sirji❤❤
1000% CA final aapse hi pdhunga
2:01:47 le me :- watching this on last day😂😂
I can't describe how to thank you sir for this. You are the best teacher for Audit I have come across. You have made this chapter seems so easy and comfortable. While studying I wa feeling too anxious and was about to leave this chapter. It's my 3rd attempt and I was totally shattered but now I got confidence watching your videos and they are game changer . This chapter didn't feel like Fastrack it's better than the regular classes. Can't thankyou enough sir . I have my exam tomo and need all your blessings❤❤❤
hello can you please send this chp pdf to me on group all parts are not available
You are the best sir..genuinely can't thank you enough for how much easier you are making this subject for us, thanks a lot for all your efforts, forever grateful to you❤❤
Thank you soo much sir, amazing clarity sir
you are best sir ....... Thanks
Thank you sir for your efforts and top notch quality lectures! 🙏
Thank you sir 🤗
1:32:14 / 2:13:52
2:04:54 Questions
BEST EXPLANATION OF CHAPTER 5
what a crazy approach towards this chapter...... i was about to leave this chapter but i think i will gain most of the marks in this chap only ,.......crazy level explanation
R-I-S-H-A-B-H = 7 ...THALA FOR A REASON🙌
TILL 1:16:15
1:34:06
Sir when you says unko bhi darr lgta h puchne m ki bacche case na krde phir... Sunke bda shi lgta h ki icai bhi drta h kya hmse😂😂
Sir, I didn't get the concept of NRV in measurement, wr u explained that NRV of last yr closing stock will be less if its not used till current yr ... please explain
Thank u so much sir😊😊
1:52:00 sch |||
My god what a teacher bro .......really like the teacher.
10:30
Bhai award do koi inko awesome padate hai sir
wow nice approach
thanku sir
Thank you
At this point of time me who trying to study this chapter for the first time in 2 days time constraint.. i tried watching many other lecturers videos but didn't understand anything and after watching this you are God to me haha thank you soooo much Sir for simplifying the chapter it feels so easy now 🙏❤️
I have started this chapter, today and I think it will be done and dusted by tomorrow for sure...this man is genius, he knows his super powers..
sir icai ki mtp for may24 m vouching and verification k question h how to solve them?
Ch - 5 to students अहम ब्रह्मआसमी
Rishab sir - Chal be *a*de😅
tysm,hare krishna
Sir 1 hi baar like krne ka option h pr mera man infinity like dene ka kar rha kase karu🥹
Thankyou sir ❤
50:50
Completely cover kiya hai chapter 5&9 ???
Sir sep 24 k liye aap kuch alg se topics or questions dene wale ho pls confirm ...sir request to u !!
Sir do we hve to write the disclosures in table format or in points pls pls reply
Agar ch-4 ko ek bar bhi nhi pada ho aur sidhe ch-5 ko karna ho toh kya samajne mai koi dikkat hogi ya samaj toh aahijayega
Mtlb Kam toh chal jayega kya Bina ch-4 pade
Koi plz iss bare Mai guidance dedo 🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻🙏🏻
There will be no problem you can do chapter 5 as it is completely different from chapter 4.
Sir ne notes likhwaye hain kya??
*Ca rj* the best
PDF file of the book/notes used in the lecture is available??
If yes please share it details......
1:22:00
I have a doubt please any kne clarify uncertainty relating to future outcome of expectionsl litigation how will come under eom paragraph if eom paragraph is there the entity prepare fs only on liquidation basis or normal
🙏🙏😍
Hi kya ham sir Jo nb mein likhwate sirf usi ko yaad kar sakte and exam mein likh sakte hai ya Jo book mein pura likha hai vo hi yad karna padega can anyone pls tell
Book ek baar padh lo aur sir ne jo likhawaya hai use hi yaad krlo qki puri book to yaad kr skti ni ho jayega itne se hi...
@@prashantdixit8712 okay thankyou
Guy's...yeh notes chahiye ho to kese mil skte hai??
Sir where is audit of banks chapter revision
articleship buy out kr skte hai kya?😂
2:03:43 its me lol
Sir ne bank audit kon se lecture me krvaya h
Regular me
fastrack me nhi kravayenge
@@udaymishraa8330
Fatrack me krvayenge ?????????????@@udaymishraa8330
8(part 2) jo upload hi nhi kiya
Av Tak upload kyon nhi hua h@@vishakhachandak6866
Sir apko valentine day par kitne proposal mile