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We discuss here about the Management Letter Audit example or sample or format, but first you should know about the Management Letter. So, it is a letter written by the audit firm in accordance with International Auditing Standards (IAS) to the management of the company describing the deficiencies and recommendations to solve them in accordance with  Generally AcceptedAccounting Principles (GAP) and International Financial Reporting Standards (IFRS) . Download  Management Letter Audit Example - Sample - Format Following is the Example / Format of a Management Letter written by XYZ Company, an audit firm, to the management of ABC Company. Sample / Example / Format of Management Letter ABC Company 53-Mall Road Lahore Pakistan XYZ Company 5-Hall Road, Lahore Pakistan We are as audit firm conduct the audit of the financial statements of XYZ Company for the year ended at December 31, 2012 in accordance with International Auditi

Here we discuss about the adjustments in Final Accounts with example. It is very important topic of Accounting . Adjustments are made at the end of accounting period. For finding Financial Performance (Net Profit) of the Business , there are two systems of ascertaining Net Income of the business. 1. Cash System of Accounting 2. Accrual System of Accounting 1)    Cash System of Accounting Under this system, transactions are recorded only when cash is received or paid. This system ignores the important accounting concept called Matching Concept . For Example, In 2014, we sold goods for Rs.50000 and received Cash for Rs.30000. In this case Rs.20000 is not recorded in the year 2014. It is recorded only when Cash is received for such amount. 2) Accrual System of Accounting Accrual system emphases on Matching Concept of Accounting. We record transaction with the full amount whether the Cash received in part or full. For Example, In 20