MSME dues and section 43B(h): the disclosure and disallowance small-company accounts often get wrong
What the MSMED Act, Schedule III and section 43B(h) require for dues to micro and small suppliers, the year-end traps, and a checklist for the payables file.
Balance sheet doesn't tally after mapping? 6 places the difference usually hides
Six places a balance sheet difference hides after mapping a trial balance to Schedule III, and how to find it fast.
Set Up GST Ledgers in Tally This Way and Audit Gets Easier
The GST ledger structure that makes GSTR-2B matching, the year-end reconciliation, Schedule III presentation and the audit easy — with monthly and year-end formats.
Schedule III of the Companies Act (Division I): the complete guide — format, notes and examples for FY 2025-26
The complete Division I format — balance sheet, profit and loss, general instructions, 2021 amendments — and every Schedule III guide in one place.
Peer review is coming: 12 things to have in a company audit file before the reviewer asks
What a peer review checks, a twelve-item file list with the standard behind each, common gaps and the firm-level records.
Your audit report may be missing one of these 6 Rule 11 lines — including the 11(g) audit trail
Each current Rule 11 clause, when it applies, what to write, the audit trail points for small companies, and how to document it.
Consolidated financial statements under AS 21: when a company must consolidate, the method and a worked example
Section 129(3) and the Rule 6 exemption, control under AS 21, the method step by step, a worked example and the audit points.
50 finalisations, 3 juniors, one partner: how to run audit season without missing a deadline
The deadlines that bind, triage by deadline and risk, a stage board, partner review windows and the capacity arithmetic for a small firm's audit season.
Don't sign that balance sheet until you've checked these 7 things
The seven checks that catch the errors hardest to explain after signing — with the standard or law behind each.
Combined accounts for a proprietor, HUF or firm with several businesses or branches: what to remove and how
Why one person means one set of accounts, combining vs consolidating, what to remove, clearing differences, GST on branch transfers, and an example.
Audit working papers (SA 230): what to record, permanent and current files, and retention
The SA 230 test, permanent vs current file, the parts of a good working paper, lead schedules, assembly and retention.
Audit programme for small audits (SA 300 and SA 330): structure, tailoring and a sample by area
Strategy vs plan, a usable structure, tailoring in three moves, the procedures always required, and a sample by area.
Audit letters for CA firms: engagement, previous auditor, consent, confirmation and representation letters
The six letters in an audit file, when each is needed, what each must contain, and the points that are easy to get wrong.
Year-end audit query list (PBC list) for finalisation: what to ask the client, by area
How to build the list, the requests by area, turning review findings into queries, confirmations under SA 505, and closing queries before sign-off.
Schedule III ratios: the eleven ratios, their formulas and explaining a change of more than 25%
What Schedule III requires, a common basis for each ratio, the 25% test with examples, better explanations and the auditor's checks.
Materiality for small audits (SA 320 and SA 450): benchmarks, percentages and a worked example
The three figures, choosing a benchmark, owner-managed entities and partnership firms, a worked example, and what to document.
How to export a trial balance from Tally for audit: the settings, the steps and five checks
The settings that matter, the TallyPrime and ERP 9 steps, why not CSV or PDF, closing stock, and five checks before you use the file.
Company audit finalisation checklist for FY 2025-26: from trial balance to signed accounts
Eleven stages from engagement to archiving, each with the standard behind it — plus a note on where the tax audit sits.
Analytical review for finalisation (SA 520): a practical CY vs PY checklist with ratios
What SA 520 requires, an eight-step CY vs PY routine, the ratios worth computing from a TB, and how to document it.
CARO 2020 applicability: which companies are exempt — a decision table for FY 2025-26
The five exemptions, the two separate routes for private companies, how ICAI reads the borrowing and revenue tests — and a six-step decision table.
Small company limits raised to ₹10 crore and ₹100 crore: what changes for FY 2025-26 audits
Both limits, the exclusions, which year's turnover counts, and the effect on CARO, cash flow and IFC reporting — with four worked examples.