- 7/2/2025
Category
🦄
CreativityTranscript
00:00I'm going to go ahead and see you in the next video.
00:30so audit of different types of undertakings
00:42so educational institution hotels restaurants
00:48hospitals it's a very practical aspect
00:53so the first one is educational
00:59institutions normally educational institutions may be public institutions
01:04or private so private laws or trust
01:08so any organization is working on any basis
01:12it's a constitution or UGC or colleges
01:20so on the compliance aspect you can check
01:23so the first one is internal control system
01:29then that's minutes book
01:31you can decide what decision you can get
01:34this is basic details
01:36then budget
01:38how do you know the receipts
01:41how do you know the receipts
01:42what are the receipts
01:43the expense
01:45so what receipts is in school and colleges
01:47the tuition fees
01:49the tuition fees is registered
01:51student registration number
01:53If you don't know who has fees due, you know
01:57If you receive a receipt from the actual fees, you will receive a receipt from the bank account
02:03You can match this to the bank account
02:05If you pay due date, you will pay due date
02:09If you pay due date, you will get a penalty
02:13If you pay due date, you will get a receipt from the bank
02:21If you pay due date, you will check
02:23Admission fees
02:25Admission fees
02:27You can get a slip from the bank account
02:29So, you will check
02:31Other fees
02:33If you have a hostel fees
02:35Development fees
02:37Addition library fees
02:39Sports fees
02:41If you have any fees
02:43If you have a receipt
02:45If you pay due date, you will check
02:47You will check
02:49Free student
02:51Free studentship or concessions
02:53If you pay for students
02:55Economically bank account
02:57You will get assistance
02:59If you pay for free concessions
03:03If you pay for which authority
03:05So, you will be an authorised person
03:07If you pay for hostel fees
03:09If you pay for hostel fees
03:11Then, pay for benefit
03:13Because with you
03:14If you pay for assistance
03:15Grant received from government
03:17For the school
03:19If you pay for grants
03:21If you pay for donations
03:23If you pay for that
03:24When you pay for school
03:25If you pay for the properties
03:27If you pay for the property
03:28Endowment and legacies. Suppose, in the memory of some people, what do you do in school?
03:34In school, the price is announced.
03:36In memory, there is a price in memory.
03:40That endowments, legacies is created.
03:44Payment, staff.
03:49Other rent. Electricity bill.
03:53Then, salary. If the government is added,
03:58the claim will be created.
04:02If the salary will be deducted, like a P.E.F.
04:06If it is already added salary, it will be corrected.
04:10Then, seminar, examination.
04:15Regular expenses.
04:17Once the sale will be taken, there are some beneficiaries of the bills, the bills will be paid.
04:27Fixed assets are added.
04:29There are eligible which comes to a bench,
04:31certain expenses,
04:32additional building.
04:34So, who can approve?
04:36If there are vouchers.
04:38All expenses are good, check all the expenses.
04:42Then, any other deposits, caution deposits, payment of hostel facilities, investments representing
04:54and these factors, evidence, proof, check all the assets and liabilities.
05:03So, you know the tangible fixed assets, other fixed assets list, check all the expenses.
05:14Investments, depreciation, amortization, PDS, outstanding liabilities, electricity bill.
05:26So, balance sheet, all items, check all the items.
05:30Inventory, inventory, stationery, school, notebook, clothing, provisions.
05:37Verification of the financial statements.
05:42Even if there is non-profit organization, income and expenditure statement.
05:46That's why the format is correct.
05:51Health care.
05:53Basically, what kind of institution? Government, private, trust deed, partnership, memorandum articles.
06:01Inventory, internal control system.
06:03Internal control system and minutes book.
06:04This is repeated on that day.
06:06Health care.
06:07Or, hospital revenue.
06:08There is no one.
06:10Inpatients.
06:11Outpatients.
06:12Payment fees.
06:13That's what the doctor received.
06:15For hospitals.
06:16Government aid grant.
06:18That's what they could actually receive.
06:20Away from home.
06:21That's what they would tell you.
06:22The room rent places are.
06:23Inpatients.
06:24Paged on per day, home.
06:26Based on per day.
06:27That's what value is,
06:28The value checkers and where to get the money.
06:30For whom did you start ringing.
06:31For your payment room,
06:32All?
06:33It's the same.
06:34They can calculate it.
06:35It's a recipient.
06:36So, it's the same.
06:37Now, if you're done that,
06:38You understand the database.
06:39x-ray or so
06:56for
07:01Dividend income, donation, etc.
07:05What do you want to do is, you can create a child with a child.
07:13If you do the content, you can duplicate it.
07:18What do you want to do is, you can use that purpose.
07:22You can use a child with a child with a child.
07:28If you can use it, you can use it.
07:31Payment related transaction.
07:33If you want to pay in the medicines, you can pay the staff.
07:40Capital expenditure.
07:43Other stuff like in the bed, you can use it.
07:49Test kit, x-ray plate.
07:53All other overhead expenditure.
07:56Electricity, bill, rent, telephone charges, stationery.
07:59That's all evidence.
08:01We can check the bill.
08:03That's all.
08:05Assets and liabilities.
08:08Stock and medicine stock.
08:11Food items.
08:14Fixed assets.
08:16Investments.
08:18Investments.
08:19Investments.
08:20Investment register.
08:21Check.
08:22Depreciation.
08:23Accounting.
08:24Proper.
08:25It's all.
08:26Then again, financial statements.
08:28Proper manner.
08:29Prepare.
08:30Present.
08:31Hospitality.
08:32Hospitality sector.
08:34It's like restaurants.
08:37Food and beverage restaurants.
08:40Travel and tourism.
08:42Lodging.
08:43Lodging.
08:44Recreations.
08:45Recreation.
08:46Cinema hall.
08:47Amusement parks.
08:48There are four categories.
08:51Basically, what kind of business do we need to look at internal control systems?
08:57First, restaurant.
08:59Restorant.
09:00Restorant.
09:01Daily basis.
09:02Restorant.
09:03Daily sales.
09:04Check.
09:05If you look at hotels.
09:06If you look at hotel,
09:07then you can order a number.
09:10When you look at list,
09:11the list is just finished.
09:14Then you go to kitchen.
09:16If you come to kitchen,
09:17if there are many items that come out of the kitchen,
09:19I will take you to get you.
09:21Here we have to get the final bill.
09:23Suppose we did miss out.
09:26If there is no difference,
09:28if there is any items that come out of the kitchen,
09:30then you bill.
09:32So, the two things cross-checked, something if it is missed, and the sales will get started.
09:37Okay, this is the control system which is found.
09:40So, all the revenues realized, bank statement, bank statement.
09:46So, generally, before this online payments, generally, check.
09:52So, generally, it is on cash basis.
09:56So, now, you may check in the bank statement.
10:04Then, all the payments made you to the suppliers.
10:08So, if you have all the expenses, you may check in the bank statement.
10:12Then, all the payments made you to the suppliers.
10:16All the other rent, electricity, etc.
10:22Petty cash expenses, all the other.
10:26Documentary evidence.
10:28Assets, physical verification of assets.
10:31Stock, all the other.
10:33Check, value.
10:35Depreciation.
10:36All the liabilities, all the payment correct due date.
10:41Travel and tourism.
10:43Expenses, every change.
10:47You can buy the payment.
10:50Travel and tourism.
10:52The book is available as travel agencies.
10:55Now, you can talk about bookings.
10:57You can book the customer.
10:59You can do payment.
11:01You can receive payment.
11:02You can pay the payment.
11:03You can pay the payment.
11:05You can pay the payment.
11:06You can pay the payments.
11:08Commissions.
11:09You can do commissions.
11:10So, that is the calculation.
11:12So, the expenses have remained the same occurred.
11:35So, it is all expenses that remain the same, all the overhead expenses, staff pay the salary, then fixed assets and liabilities, it is all check.
11:45Hotels and Guest Houses, Lodging Purpose, stay, so if you collect the revenue, check-in, check-out, maybe 24 hours, maybe 12 o'clock to next day 12 o'clock, that's all.
12:04So, if your policy is there, that's how you calculate your money, it's all correct to maintain your register, if you go to what place, you go to what place, you go to what place, you do match, you do match.
12:15You can receive bills, receive them, and cross verify them.
12:21room rent, resets, daily occupancy report allah pahk. Then, suppose, yedavad customer
12:28different rate charge kundragaan vishukho. Discounts additional a kuddukkaraan
12:33na ni enda basis le kuddukta hai. Approval vahangi irikkiya, apne ingatthiyo nambah pahk.
12:37Or events, that's where conferences, wedding ceremony, idha maralaan aadakkuthay apneetso
12:41onna, adukke enna madri resets, adukk yedha discount kuddukta nana, approval vahangi
12:46kakana, et cetera, adhallaan pahk. Then, income from bar, casino, health center, in the
12:51additional facilities allah kuddukkaraan apneenna, adukke enna madri resets pahk. Rent, sometimes
12:59enna unna chinna chinna shop salna ava chirippaanunga munaadi, ice cream shop inna
13:03maaralaan. So, adukkala amam vandhu rent kudu paananda. So, adhoode resets pahkanaan.
13:07Itdhi illama yendikki expenses na, in the food items, all other things, salaries kudukaraan,
13:13then all other expenses, overhead expenses, yelilalaath yu check pahnaanu. Assets in
13:18pathing enna stock verification, valuation pahnaanu. Then fixed assets alah physical verification
13:24pahnaanu. Liabilities, adha yedha, liabilities ennana arkku payment duele enna arkku apneetpaakku.
13:29Depreciation charge pahnaun. Recreation, cinema halls and amusement parks. So, idhikki internal
13:36control system wodakogi. Ticket sale pahnaan. So, idhikki internal control system.
13:39Ihana iwan peuruduhi yendikki kundingente arkku mem alltik ket Fox sales per n correctu thant. Amusement park
13:41za yedhan, IST sail pahneun yedha eadha ahu all dah hu and s alaula ONE all wh Within the
13:43Too точ tek te uedhaan yedda. So, adhu eandhu pant Production price kwaknaun yoh sams hu
14:06tickets generally. Unsold tickets are
14:09locker level. So,
14:11now, all of them are system
14:12so, it's a different thing. Then, vouch
14:16the collections based on daily sales
14:18reports. Daily collection
14:20sales report
14:22cash book
14:24entry
14:25cross verify
14:27collection from advance
14:30booking adjust
14:31proper. Then
14:34special events
14:36cinema hall
14:37rental
14:38sale of drinks
14:41refreshments etc
14:42entertainment tax
14:45collect
14:46proper within the due date
14:48deposit
14:49then hiring of
14:52films based on the relevant contracts
14:54advertisement
14:55advertisement
14:56payment to the suppliers of refreshments
15:05salaries pay
15:07all other overhead expenses
15:09fixed assets
15:11registered assets check
15:13depreciation
15:14charge
15:15just
15:18just
15:18practically
15:20we have to talk about
15:22audit of banks
15:24this
15:25is
15:26this
15:27is
15:28banking
15:29regulation
15:30act
15:31but
15:32the
15:33provisions
15:35applicable
15:36so,
15:38financial statements
15:39this is how
15:40there is
15:41banking
15:42regulation
15:43acts
15:44form
15:45B of 3rd schedule
15:46balance sheet
15:47form B of 3rd schedule
15:49P&L
15:49statutory
15:52audited banks
15:53audited by
15:55a qualified
15:56person
15:57okay
15:59so,
16:00who appoint
16:01shareholders
16:02appoint
16:03annual
16:03general
16:04meeting
16:04and
16:05nationalized
16:07bank
16:07means
16:08it is
16:10appointed
16:10by the
16:11bank
16:11through
16:11the
16:11board
16:12of
16:12directors
16:13state bank
16:15state bank
16:16of
16:16India
16:17are
16:17that
16:18auditor
16:19appoint
16:20CEG
16:21appoint
16:22what
16:23government
16:24okay
16:25remuneration
16:26as per
16:27the
16:29companies act
16:31that
16:32company
16:33auditor
16:34powers
16:36and duties
16:37are
16:38similar
16:39so,
16:43here
16:44whether
16:45it
16:46presents
16:47true
16:48and
16:49transactions
16:50bank
16:51power
16:52transaction
16:53what
16:54he
16:55should
16:56draw
16:57to the
16:58notice
16:59section
17:00143
17:01we
17:02see
17:03audit report
17:04include
17:05so,
17:06that
17:07factors
17:08consider
17:09that
17:10caro
17:11banking
17:12insurance
17:13is not
17:14applicable
17:15and
17:16long
17:17form
17:18audit
17:19report
17:20they
17:21have to
17:22submit
17:23and
17:24notifications
17:25also
17:26we
17:27know
17:28what
17:29is
17:30what
17:31we
17:32know
17:33about
17:34business
17:35and
17:36internal
17:37control
17:38system
17:39and
17:41they
17:42are
17:43accounting
17:45process
17:46risk
17:47management
17:48this
17:49detailed
17:50audit
17:51plan
17:52material
17:53internal
17:54control
17:55system
17:56and
17:57regulations
17:58so
17:59on
18:00the
18:01previous
18:02auditor
18:03audit
18:04report
18:05specifically
18:06advances
18:08advances
18:09advances
18:10advance
18:11loan
18:12bank
18:13loan
18:14loan
18:15here
18:162 aspects
18:17bank
18:18bank
18:19one
18:20bank
18:21deposits
18:22one
18:23bank
18:25loan
18:26and
18:27advances
18:28this
18:29is
18:30some
18:31other
18:32activities
18:33bank
18:34involved
18:35so
18:37deposits
18:38inflow
18:39this
18:40is
18:41outflow
18:42this
18:43loan
18:44interest
18:45is
18:46inflow
18:47income
18:50right
18:51deposit
18:52customer
18:53what
18:54does
18:55interest
18:56pay
18:57this
18:58expense
19:00this
19:01is
19:02business
19:03activity
19:04and
19:05advance
19:06loan
19:07loan
19:08loan
19:09rules
19:10and
19:11control
19:12systems
19:13and
19:14documents
19:15and
19:16documentation
19:18and
19:19loan
19:20is
19:21over
19:23due
19:24and
19:25recovery
19:26the
19:27money
19:28and
19:29the
19:30money
19:31and
19:32the
19:33money
19:34is
19:35the
19:36money
19:37and
19:38the
19:39money
19:40and
19:41Cash in Hand.
19:43Internal Control System.
19:45Cash in Hand.
19:47All of them can access.
19:49Foreign currency.
19:51What is the balance with RBI?
19:55You are studying Banking.
19:57Bcom.
19:59Banking.
20:01Banking.
20:03Other banks.
20:05And Cash Reserve Ratio.
20:09Statutory Reserve Ratio.
20:11All of them can maintain.
20:13Aspects we can check.
20:15Balance with other banks.
20:17That is reconciliation statement.
20:19Money at call and short notice.
20:23Fixed assets and other assets.
20:27Method.
20:29Schedule.
20:31Banking Regulation.
20:33Revaluation.
20:35Borrowings.
20:37Bank that is to borrow.
20:39or other bank in the other bank, if you come out of India or outside India, do you have any interest rate?
20:48You can check that. Deposits. Deposits means we need to pay for customer.
20:55We may have interest accrued, but if we do payment, we will be able to pay it.
20:59Then window dressing is there. You know that over valuation or under valuation of profits come here.
21:07Capital, you know the opening, closing capital, special resolution of the shareholders meeting,
21:18prospectors, reserves and surplus, bills payable, different aspects internal control,
21:29internal control system, correct on the demand draft, so that is checked,
21:39telegraphic transfers, that is one confirmation, contingent lablet is, so what contingent lablet is,
21:52chances are identified, proper valuation,
21:57that is what control systems are, that is disclosure,
22:02and the disclosures are proper,
22:04this is the sampling basis,
22:08reasonableness test based on the previous year activities,
22:16bills for collection, similarly the bills which are drawn on other branches,
22:23examine the collections made subsequent to the rate of balance sheet,
22:30treasury operations, foreign exchange, derivatives,
22:35so in the all related aspects, we can check the bank,
22:42cooperative society,
22:44cooperative society,
22:46you have the cooperative society's act 1912,
22:53so,
22:54so,
22:55so,
22:56so,
22:57so,
22:58so,
23:00so,
23:01authorized,
23:02by the registrar,
23:03so,
23:04now,
23:05we have the registrar of companies,
23:06so,
23:09so,
23:10so,
23:11so,
23:12so,
23:13so,
23:14so,
23:15so,
23:16at least once in every year,
23:17so,
23:18so,
23:19so,
23:20so,
23:22so,
23:23so,
23:24so,
23:25so,
23:26they can also do auditing,
23:27appointment,
23:28appointment,
23:29you can appoint one,
23:30so,
23:31so,
23:32so,
23:33so,
23:34so,
23:35so,
23:36so,
23:37so,
23:38so,
23:39so,
23:40so,
23:41so,
23:42so,
23:43so,
23:44so,
23:45so,
23:46so,
23:47so,
23:48so,
23:49so,
23:50audit,
23:51appointment,
23:52yeah,
23:54appointment,
23:55registrar,
23:56appointment,
23:57okay,
23:58and,
23:59auditor,
24:00audit,
24:01auditor,
24:02auditor,
24:03and,
24:04fees,
24:05fees,
24:06fees,
24:07there is some statutory scale,
24:08in the category,
24:09you know,
24:10payment,
24:11books of accounts,
24:13here,
24:14so,
24:15so,
24:16so,
24:17books normal,
24:18prescribed,
24:19to societies act,
24:20cash book,
24:21stock register,
24:22assets,
24:23investments,
24:24fixed assets,
24:25guarantee,
24:26restriction on the,
24:28shareholding,
24:29so,
24:30there is a limit on the,
24:31shareholding,
24:32that is,
24:33section number 5,
24:34compliance,
24:35so,
24:3620% of total shares,
24:39should be less than,
24:4120% of total number of shares,
24:43or value and the,
24:481,000,
24:50in the range,
24:511,000,
24:52in the range,
24:53and the limitations,
24:54so,
24:55on the provision,
24:56follow up,
24:57and the section number 5,
24:58comply,
24:59similarly,
25:00restriction on loan,
25:02section number 29,
25:03okay,
25:04loan,
25:05loan,
25:07members
25:08you have to get the approval of registrar,
25:10they will get approval of registrar,
25:11they will get approval of registrar,
25:12loan,
25:13that will get approval of registration,
25:14then,
25:15approval and current,
25:16check,
25:17if you borrow the registration,
25:18they will have the license,
25:19bylaws,
25:20of the profit before distribution of dividend, dividend distribute
25:4925% of the profit and you can do it with the reserve.
25:54If you look at the dividend, you can do it with the dividend.
26:00If you look at the dividend, you can do it with the dividend.
26:05At any time, it cannot reduce to less than 10% of the profits.
26:09Reserve fund in the minimum of 10% of the profit.
26:14You have to get the approval of the members in the general meeting.
26:26Contributions to the charitable purpose.
26:29It should not exceed 10% of the net profits remaining after the compulsory transfer to reserve fund.
26:39Compulsory transfer to reserve fund is 25% of the profits.
26:44That's how we can do it with the contribution.
26:48So, you can do it with the gross profit.
26:51So after the bank, the loan fund is the net profit of the net profits.
26:52If you look at the dividend, you can do it with the balance bank.
26:57If you look at the net profit, like the dividend, you will need to earn the dividend.
27:04You can do it with a contribution to charitable purpose.
27:06Otherwise, it means you will take the year.
27:07So, the university of the profit is 50%, the государity of the company.
27:08then steps to be taken by an auditor of a cooperative society
27:18first in the cooperative society
27:26rules and regulations applicable
27:28act applicable
27:29state level
27:33rules
27:34the register of members
27:36internal control system income
27:40income
27:41income
27:43income
27:44cash
27:45bank statement
27:46register of members
27:48capital capital
27:50sales
27:52cash
27:54bank statements
27:56sales account
27:57day book
27:58cross check
27:59ok
28:00any cash received from members towards construction of houses
28:04or maintenance should be vouched with the register
28:08then audit of expenditure
28:11payment of expenditure
28:13what expenses are we have to get authorization from the management committee
28:17board of directors
28:19managing committee
28:21payment of loans
28:28payment of loans
28:30payment of loans
28:31loan
28:32you need to pay for the loan
28:33you need to pay for the loan
28:35terms and conditions
28:36and the agreement
28:37terms and conditions
28:38establishments
28:39expenses
28:40any other
28:41overheads
28:42other points
28:44you need to pay attention
28:46overdue
28:47debts
28:48for more than six months
28:50I mean six months.
28:52If you want to get a loan or you want to get a loan, you want to get your money.
28:55So, six months in an example, you're going to get a loan from me,
28:58if you want to get a loan from me.
29:00So, what is the benefit to you and if you want to get a loan from me,
29:03society has a financial position.
29:05And, what is the need to get a loan from me,
29:08what does that need to get a loan from me?
29:10What is the benefit of you?
29:12Bad debts.
29:14There is a right-off.
29:16So, if you want to get a loan from me,
29:18Then audit of local self-government. This is generally the municipality, panchayat. So, that is the organization.
29:29How do you think about this? Generally, government is involved.
29:34If you are involved with public money, you can expect the FARR to spend, you can expect the internal control system,
29:41if you are involved with public money, if you are involved with public money, if you are involved with public money,
29:50audit procedures, regulations first to check. Understand the rules and regulations that govern the entire operation.
29:59Relevance, documents, minutes, resolutions. And government spending, what do you do?
30:05There will be different levels of approval.
30:09So, who approve? Whether the person is authorized to approve?
30:14In-depth investigation in areas with potential fraud.
30:22So, whenever there is a provision of funds, ensure the expenditure is incurred from the provision and same has been utilized.
30:28Provision generally, one part of the expense has come.
30:33So, that should be utilized for that purpose.
30:35That should be an authority authorized fund. So, if we are interested in approvals are required. Okay?
30:48Then, the schemes are running economically and expected to generate the targeted outcome.
30:53So, generally, huge financial expenditure.
30:57So, if you are interested in approvals, the
31:16We are going to test it in LR
31:29We are going to test it on Friday
31:36We are going to schedule the last week, we are going to schedule the last week, we are going to test the chapter 1, so we are going to schedule the C1.
32:04You have to schedule a CAC schedule
32:18Okay, you have to schedule a full schedule
32:26Okay, next week, coming week, we will overchat
32:34Okay, that's a down tabdina individual telegram group
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