Scribd Logo
Upload

Welcome to Scribd!

  • Palmet Checklist For Ram Naresh

    Uploaded by

    Deepak Kumar Solanki
    15 views3 pages
    The document provides instructions for cost center verification and reconciliation. It states that overheads cost centers should not contain large entries, assets over Rs. 50,000 should be debited to asset accounts rather than cost centers, and no new cost centers should be used without approval. It also notes that all sales entries must have valid cost centers and the credit total in cost centers should approximately equal the sales amount in the profit and loss statement. Finally, it performs a reconciliation of the profit as per the profit and loss statement versus the credit/debit amounts in cost centers.

    Original Description:

    Original Title

    Palmet Checklist for Ram Naresh

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The document provides instructions for cost center verification and reconciliation. It states that overheads cost centers should not contain large entries, assets over Rs. 50,000 should be debited to asset accounts rather than cost centers, and no new cost centers should be used without approval. It also notes that all sales entries must have valid cost centers and the credit total in cost centers should approximately equal the sales amount in the profit and loss statement. Finally, it performs a reconciliation of the profit as per the profit and loss statement versus the credit/debit amounts in cost centers.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    15 views3 pages

    Palmet Checklist For Ram Naresh

    Uploaded by

    Deepak Kumar Solanki
    The document provides instructions for cost center verification and reconciliation. It states that overheads cost centers should not contain large entries, assets over Rs. 50,000 should be debited to asset accounts rather than cost centers, and no new cost centers should be used without approval. It also notes that all sales entries must have valid cost centers and the credit total in cost centers should approximately equal the sales amount in the profit and loss statement. Finally, it performs a reconciliation of the profit as per the profit and loss statement versus the credit/debit amounts in cost centers.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 3

    1

    a
    b
    c
    d
    e
    f
    Cost Centre Verification
    Overheads cost centre is not containing big entries. Big entries should be allocated to particular cost centre
    Assets above Rs.50000 should not be consumed and should be debited asset account.
    No new cost centres should be used unless approved.
    All sales entries should have valid cost centres and Credit total in cost centre should be approx equal to Sales in P&L
    Manufacturing Overheads cost centre verified
    Cost Centre Credit/debit vs Profit as per P&L reconciliation
    Profit as per P&L -8856669
    Less: Opening stk of CC -1221639
    Add: Opening Stock 4294216
    Less: Closing Stock -14955
    -5799047

    -5281521
    517526

    You might also like