Lecture 20 | CA Inter Audit Fastrack For May 2024 Exam | Chapter 5 Audit Of Items Of FS |
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Best teacher ever and still continuing to be THE best your Fastrack lectures are better than compared to some teachers* ( all ) regular lectures
fastrack lecture ❌ regular lecture ✅
But the best conceptual clarity
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 ?
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
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❤
The Man
The myth
The Legend!! 🔥
dhoni
Cr7
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🔥
A different approach for this chapter was much needed! Thank you for these sessions Sir!💪
I regret not taking your regular classes....just hats off MAN ! He is just amazing...
Same here😢
sir thank you so much itne vast chapter ko simplify krne ke liye, or har chiz ko minimum time me padhane ke liye ..
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
Wow 😮 approach of teaching sir❤superbbbb ❤ #RJSIR❤💯 #alltimefav❤ #favsir❤💯
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
Wah!!! Wonderful, Awesome explanation .......Everything is clear now........I am grateful for your help
Thanks sir for these lectures❤... It's very helpful for old students 🙏
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
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
Sir you are saviour for us ..
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 😍
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😂😂
just love you sir your al lectures khuppppppp bhariii love from maharastra
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
Thankyou so much sir 😊 the way you explained and approach to deal with audit subjects was too good you made easy the techincal chapters
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❤😊
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❤❤❤
Thanks a lot
Because of u I got conceptual clarity and scored 73 in audit
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🙏🏻❤✨🔥
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......
1:24:17 there is mis interpretation
Thank you so much sir 😊😊
THANKYOU SOO MUCH SIR FOR PROVIDING CONCEPTUAL AND QUALITY SESSIONS😊😊
1:11:13 sales and purchases
Very much helpful sir..tysm🙏❤️
How to write general question's answer on sales & purchase summary 1:33:09
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
4:15
Thank you sir ❤
Yours just too good sir ❤ amazing
THANK YOU SOO MUCH SIR FOR THE WONDERFUL SESSION🤩🤩
Sir❌
God✅
Thank you sir 🤗
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
Thank you soo much sir, amazing clarity sir
Thank you sir for your efforts and top notch quality lectures! 🙏
He turned a giant chapter into a cutie chapter, Amazing!!!❤
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..
34:35 start assertions
you are best sir ....... Thanks
Sir sep 24 k liye aap kuch alg se topics or questions dene wale ho pls confirm ...sir request to u !!
1:14:00 general answer for Purchase and sales
My god what a teacher bro .......really like the teacher.
sir icai ki mtp for may24 m vouching and verification k question h how to solve them?
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.
Ch - 5 to students अहम ब्रह्मआसमी
Rishab sir - Chal be *a*de😅
Sales ,depreciation 1:10:53
52:39 other expenses
2:01:47 le me :- watching this on last day😂😂
Sir ne notes likhwaye hain kya??
Sir where is audit of banks chapter revision
Thank you
4:13 Start
23:53 ❤
wow nice approach
thanku sir
Sir do we hve to write the disclosures in table format or in points pls pls reply
26:40
Bhai award do koi inko awesome padate hai sir
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
PDF file of the book/notes used in the lecture is available??
If yes please share it details......
1:52:00 schedule based
1:19:38
2:05:20 imp ques.
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
1:05:11 Interest Income on FD
tysm,hare krishna
Sir apko valentine day par kitne proposal mile
1000% CA final aapse hi pdhunga
Start 4:25
Batch khtm kab hoga audit ang sm ka
25 march
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
🙏🙏😍
Income statement items :-
47:38 other exps
Sir n audit strategy audit planning vala chapter knse lecture m kraya h..
SAs 300
@@ankukumar2973yes
lec 14 and 15
articleship buy out kr skte hai kya?😂
1:34:06
1:52:00 sch |||
R-I-S-H-A-B-H = 7 ...THALA FOR A REASON🙌
2:04:54 Questions
2:03:43 its me lol
*Ca rj* the best
Kiski ko idea hai ki batch kab tak chalne wali hai
I think 20th feb
25 th march
nd sir ne audit report chapter bhi pura nhi krvaya
Bad me hoga
ok bro @@udaymishraa8330
RJ KING
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
Thank You 🙌🙌🙌🙌
Thanks for the effort ji❤
Great conceptual explanation sir. So thankful someone suggested i should watch your lectures.
Is the entire chp covered in this one lecture????
@@nupur1211 no there's part 2 also
Notes available?
@@ishikajoshi2106 notes r just CMAT language as it is just simplified
thank you sir ❤
Thank u so much sir😊😊
1:33:00 general question approach
1:14:00