Sir aapka padhane ka tareeka bahot accha hai ...seedha point to point. Sir mere saath yeh hota tha ki faculties ek concept itna kheechte the mujhe samaj hee nahi ata tha ki woh topic se relevant bhi hai ya nahi. Whereas u r sticking to the topic not disrupting the link. Thankyou Sir...❤
Yes, I am trying to experiment traditional but not so trendy ways to teach which maybe time effective and to the point! Glad to know that you liked it, it will help me to stick to my methods! Thanks.
@@CAKrupenYHathi Yes sir please stick to your method may what others say because there are students like me who don't want ENTERTAINMENT in class. WE ONLY WANT TO STUDY THE CONCEPT that's it. You are a prime example of how one can study efficiently and effectively. Thankyou so much now I don't fear audit
@@cyberpunk8742 Yeah sure! Actually those faculties tries to make students live due to difficulty of the subject and course, I may also need to do the same if its live lecture or physical class otherwise students can't understand much! However, in RUclips videos, I don't need to do it since if students getting bore they can take break on their own! So glad that this way it is helpful to you!
Sir are u going to upload whole chapter wise module series compilation in the playlist by what date ?.....??? cos i am appearing for may 2024 Is there any specific deadline?
Sir you are a very good teacher 👏 you have made me understand each word and its meaning. Now i dont have to rely on mugging up points by use of a story or mnemonic technique, coz now i understand the points ❤
Data center where data is processed and stored and network - Internet and Intranet. So, controls over them are necessary since it affects overall Financial Reporting as data is also necessary for Financial Statements (FS)! It includes activities such as overall management of computer activities - preparing, scheduling and executing of batch jobs - as some transactions are processed in batches - like NEFT - where money are transferred from one A/c to another within couple of hours - as they transacted in batches. - monitoring, storage and retention of backups - for all data backup is necessary, hence when and where they are kept! - performance monitoring of operating system, database and networks - operating system like windows, database where data is stored or kept or from where it is used and network - BCP and DRP - are used when some natural calamity or hacking etc. affects to data then how to recover them etc. Hope now you are clear with this point! Feel free to reach out for more clarifications! Thanks.
in questionnaire there are three options yes no not applicable then if internal staff wants to fill remarks for all for the answer yes no not appliclbe whatever............ then he can do so ??
Internal controls are designed and implemented by the management, so where to put how much or what internal control are decided by management based on the judgement which may be wrong and hence it may become limitation of internal control. For eg., if management has restricted to mail to other or usage of pen drive etc. to save leakage of data, however, there are chances that employee may leak data by capturing on phone etc. and it may become limitation. Feel free to reach out for more clarifications! Thanks.
@ sir please make video on gap between icai expectations and our preparations because even after revising for 2 times very nicely I’m not able to answer the questions why this happening
Need to write key words from ICAI Modules. And most of the time Students don't understand what is asked and that's why students don't get marks. ICAI generally awards marks for correct, to the point answers. So, concept clarity and key words are the most crucial to pass the exam.
Whole Audit lectures are covered in approx. 60 hours from ICAI Modules. And revision videos from compiled notes are around 25-30 hours, link of the playlist is given below: ruclips.net/p/PLux8FsMkulSVowfZ87jRGVACDjOU4sx4O Keep watching and learning!
All 3 components of Audit Risk are different but they do not operate individually, they are kind of interconnected and when you are considering total risk, sometime one risk increases the other risk and vice versa, so to give effect of the same multiplication is necessary. Through addition, we are saying that all of them are separate and never affect each other. For eg., if the nature of Business is Risky, we can say that there is an Inherent Risk. However, their controls are operating effective, so control risk is low. Auditor is going to perform the audit for the first time, hence, there is higher detection risk. Now, when we want to compute audit risk, if we add all the risk then it would be higher only! While if we multiply them, Risk of Material Misstatement (i.e. Inherent Risk x Control Risk) would be comparatively less since there is lower control risk. Also it lower the Audit Risk as well! If there are controls are operating effectively and due to that control risk can be lower then we can consider it as positive thing and it lowers the Audit Risk as well, it is possible if we multiply each risk rather than adding them! If we take another example, say in CA passing is difficult which is inherent risk, and for eg., only 10% students pass the exam, so here 90% Inherent Risk. However, student has obtained very good conceptual clarity (watching my videos 😉😉) and confident about 80% clarity, in that case there is 20% risk which is like control risk. And then students prepares and appear in exam is like detection risk, and student performs very well, he/ she is confident that 70% chances are that he/ she will pass, then we can say that there is 30% detection risk. Audit Risk = 90% x 20% x 30% = 5.4 % risk is there! So, multiplication is justifiable! Hope your doubt is clarified! Feel free to reach out for more clarifications! Thanks,
Yes, they frequently ask about the penalty questions, so it is advisable to learn it! I have not checked the Business law paper, but I have heard about it.
@@adityaRajkhandelwal-wr4mi Yeah I know, but need to learn which are the most imp. For that you may refer some faculties' videos. Hope it will be helpful to you!
From tomorrow I'll resume to upload videos... couldn't upload due to some reasons! Also, you may download full notes of Audit for revision, from the following link: drive.google.com/file/d/1sqQ4hcQIK8NryRJdzjVx3eQu4O2mEcYF/view?usp=sharing Hope it would be helpful to you! Thanks for your patience!
Matlab ki Internal controls are not perfect, kuch na kuch to galtiyan to reh jaayegi... Hope your doubt is clarified! Feel free to reach out for more clarifications! Thanks
Notes are uploaded, click on the following link: drive.google.com/file/d/1ldxKc3bUMPqsgPd-0g8_AKZIhfH91qDN/view?usp=sharing Thanks for your patience! Hope it will be helpful to you.
Do you have problem in all 5 points and question or any specific point or question? As each point and question is different than each other. Let me know the points you are unable to understand, will clarify it. Thanks
@@DivyaChauhan-c4f In the second point, it is mentioned that due to entry of new product, company's product is getting outdated. In that case, market value of the company's maybe reduced, even it can be lower than Cost. Considering Conservatism in Accounts and complying with AS 2 provisions, company shall value Inventory at lower of Cost or NRV. As mentioned, chances are there that NRV of the product is lower tham Cost and shall be valued at NRV. However, the company might have valued at Cost which could be higher than NRV. Then it would become the risk i.e. the Misstatement exist even before auditor starts Auditing and here the risk is that Inventory might be overstated. Hope your doubt is clarified! Feel free to reach out for more clarifications! Thanks
Sir I'm doing cumulative revision of audit along with audit classes but it takes so much time that I can't do anything of other subjects after that ...... Plz guide me sir ????😕😕😕
@@CAKrupenYHathi gonna appear for both in Jan 25 .. Currently Im doing both group concurrently Approx 50-52 % course done Giving weekly tests Strategy is that will prepare & rewise theory subs first then revise as much as I can ...along with practical sub
@@OnepieceisREAL..0 so you are going on right pace, Audit is time taking subject! You may keep 2-3 Hours for audit a day, don't try to complete whole chapter in a day, keep reading it daily, after 2-3 Hours a day, shift to another subject! So that you can complete other subjects as well!
@@CAKrupenYHathi but the mess is that in 2-3 hours I can do only 3-4 page of module ....& Our sir do 8-10 page everyday ... So I get back log in audit And as audit take time I also get back log in all other subjects 🤡
@@OnepieceisREAL..0 You need to increase your speed, as if you are taught the subject then you can't allot 2-3 hours to read 3-4 pages! You have to increase speed! Gradually, it may increase! You may refer my videos, I have covered whole ICAI module around in 60 hours!
Notes are uploaded, click on the following link: drive.google.com/file/d/1ldxKc3bUMPqsgPd-0g8_AKZIhfH91qDN/view?usp=sharing Thanks for your patience! Hope it will be helpful to you.
So you have not uploaded the complete chapter it's only 90 % of the chapter I am facing very much problem in understanding the rest of the part which is not explained in this video
Hope you have commented after watching substantial portion of the video... as it might be possible that some of the portion does not require much explanation! Also, lecture from module, covering line by line, may seem that it is just reading... but it has explanation, sometimes that paragraph is self explanatory and I think I have tried to teach the all concepts which can be understood by the students. Yes, that's true that I have not covered many examples due to time constraints. If you feel, you may check out other chapters... or else you will definitely find some better videos! All the best!
Bro don't disrespect someone's effort ..if someone is providing you the content free of cost ..then watch it and if u are not understanding just switch it to another educator .but don't disrespect them
@@CAKrupenYHathi Don't give answers to them. you are much better educator than so called famous teachers. i can understand every line qualitatively. Thankyou for this
Hope you have commented after watching substantial portion of the video, as some part may not require much detailed explanations, even they may have been covered already in some other part of videos! I would like to cover up whole module since most of the students are not going to read on their own and there are many cornering points which have potential to be asked as question. I have tried to make these concepts understandable, yeah I agree with that I have not taken many examples as there is time constraint, hope you would understand this! I have already uploaded all the chapters' videos, so unable to implement your suggestion as of now, in future, when I'll come up with any other series of lectures, will take care of your suggestion, thanks for the suggestion! However, you may feel free to ask any doubt, if you feel in any concept, point, question etc. I'll advise you to check out whole video or even any other chapter or else you may find some better videos over internet! All the best!
Sir aapka padhane ka tareeka bahot accha hai ...seedha point to point. Sir mere saath yeh hota tha ki faculties ek concept itna kheechte the mujhe samaj hee nahi ata tha ki woh topic se relevant bhi hai ya nahi. Whereas u r sticking to the topic not disrupting the link. Thankyou Sir...❤
Yes, I am trying to experiment traditional but not so trendy ways to teach which maybe time effective and to the point!
Glad to know that you liked it, it will help me to stick to my methods!
Thanks.
@@CAKrupenYHathi Yes sir please stick to your method may what others say because there are students like me who don't want ENTERTAINMENT in class. WE ONLY WANT TO STUDY THE CONCEPT that's it. You are a prime example of how one can study efficiently and effectively. Thankyou so much now I don't fear audit
@@cyberpunk8742 Yeah sure!
Actually those faculties tries to make students live due to difficulty of the subject and course, I may also need to do the same if its live lecture or physical class otherwise students can't understand much! However, in RUclips videos, I don't need to do it since if students getting bore they can take break on their own! So glad that this way it is helpful to you!
completed thank you sir ji for wonderful video
Most welcome!
All the best!
I really appreciate your hard work for us ❤️
It is really helpful ❤
Sir are u going to upload whole chapter wise module series compilation in the playlist by what date ?.....??? cos i am appearing for may 2024 Is there any specific deadline?
Trying to complete in a week.
@@CAKrupenYHathi i appreciate your work... ❤️❤️
@@anoopkumargupta1113 Thanks, glad that it is helpful to you!
THANK YOU FOR THE VIDEO SIR ❤❤❤❤
Welcome!!
Sir you are a very good teacher 👏 you have made me understand each word and its meaning. Now i dont have to rely on mugging up points by use of a story or mnemonic technique, coz now i understand the points ❤
Glad to know that!
Thanks for such words of appreciation!
Keep watching and learning!
Sir , i didn't get the explanation and meaning of (a) controls over data centre and network operations, pg 3.57
Data center where data is processed and stored and network - Internet and Intranet. So, controls over them are necessary since it affects overall Financial Reporting as data is also necessary for Financial Statements (FS)!
It includes activities such as overall management of computer activities
- preparing, scheduling and executing of batch jobs - as some transactions are processed in batches - like NEFT - where money are transferred from one A/c to another within couple of hours - as they transacted in batches.
- monitoring, storage and retention of backups - for all data backup is necessary, hence when and where they are kept!
- performance monitoring of operating system, database and networks - operating system like windows, database where data is stored or kept or from where it is used and network
- BCP and DRP - are used when some natural calamity or hacking etc. affects to data then how to recover them etc.
Hope now you are clear with this point!
Feel free to reach out for more clarifications!
Thanks.
@@CAKrupenYHathi thank you sir
Thank you sir 😊
Sir.. notes me na .. is CHAPTER KA MATERIALITY topic cover nhi kiya gya hai
I is covered, refer Pg. No. 28 to 31 of notes.
Please confirm once you get it.
Thanks.
@@CAKrupenYHathi thankyou sir 🦋
in questionnaire there are three options yes no not applicable then if internal staff wants to fill remarks for all for the answer yes no not appliclbe whatever............ then he can do so ??
Yes, he can do so. However, generally, yes answer do not require much clarification/ remark.
@@CAKrupenYHathi sir mail ka reply dedo plz you are last hope
Sir in limitation of internal control (v) judgement by management. I’m not able to understand
Internal controls are designed and implemented by the management, so where to put how much or what internal control are decided by management based on the judgement which may be wrong and hence it may become limitation of internal control.
For eg., if management has restricted to mail to other or usage of pen drive etc. to save leakage of data, however, there are chances that employee may leak data by capturing on phone etc. and it may become limitation.
Feel free to reach out for more clarifications!
Thanks.
@ sir please make video on gap between icai expectations and our preparations because even after revising for 2 times very nicely I’m not able to answer the questions why this happening
Need to write key words from ICAI Modules. And most of the time Students don't understand what is asked and that's why students don't get marks. ICAI generally awards marks for correct, to the point answers. So, concept clarity and key words are the most crucial to pass the exam.
Sir total duration of the batch would be how much. Please reply ASAP🙏🙏
Whole Audit lectures are covered in approx. 60 hours from ICAI Modules.
And revision videos from compiled notes are around 25-30 hours, link of the playlist is given below:
ruclips.net/p/PLux8FsMkulSVowfZ87jRGVACDjOU4sx4O
Keep watching and learning!
@@CAKrupenYHathi tysm sir🙏🙏
Sir thanks for giving previous chapter notes please provide this chapter also
Thank you sir
Sir plz bring compilation of ch 7 like this
By tomorrow morning, it will be uploaded, it is in process.
Thanks for your patience.
Sir I haven't finished yet but audit risk k formulas me multiply (X) ka sign kyu hai addition (+) ka kyu nahi hai 🙄
All 3 components of Audit Risk are different but they do not operate individually, they are kind of interconnected and when you are considering total risk, sometime one risk increases the other risk and vice versa, so to give effect of the same multiplication is necessary. Through addition, we are saying that all of them are separate and never affect each other.
For eg., if the nature of Business is Risky, we can say that there is an Inherent Risk. However, their controls are operating effective, so control risk is low. Auditor is going to perform the audit for the first time, hence, there is higher detection risk.
Now, when we want to compute audit risk, if we add all the risk then it would be higher only! While if we multiply them, Risk of Material Misstatement (i.e. Inherent Risk x Control Risk) would be comparatively less since there is lower control risk. Also it lower the Audit Risk as well! If there are controls are operating effectively and due to that control risk can be lower then we can consider it as positive thing and it lowers the Audit Risk as well, it is possible if we multiply each risk rather than adding them!
If we take another example, say in CA passing is difficult which is inherent risk, and for eg., only 10% students pass the exam, so here 90% Inherent Risk. However, student has obtained very good conceptual clarity (watching my videos 😉😉) and confident about 80% clarity, in that case there is 20% risk which is like control risk. And then students prepares and appear in exam is like detection risk, and student performs very well, he/ she is confident that 70% chances are that he/ she will pass, then we can say that there is 30% detection risk.
Audit Risk = 90% x 20% x 30% = 5.4 % risk is there! So, multiplication is justifiable!
Hope your doubt is clarified!
Feel free to reach out for more clarifications!
Thanks,
@@CAKrupenYHathi thank you sir☺️
sir what is meaning of VOLATILE here 03:16:50 ??
Plus minus hote rehta hai, to kabhi profit jyada hota hai kabhi kam to fir profit ko as benchmark use nai karna chahiye!
@@CAKrupenYHathi yeah sir got it now thank you sir
Thankyou sir❤❤❤
Very helpful lecture series❤❤
Most welcome
well done sir
Thanks!
sir ek business law ko lekar doubt hai ki penalty yaad rakhna important hai kya?
Yes, they frequently ask about the penalty questions, so it is advisable to learn it! I have not checked the Business law paper, but I have heard about it.
@@CAKrupenYHathi sir bohot sari hoti hai like har ek section ki penalty aur usmey bhi company and officer in default ki alg alg
@@adityaRajkhandelwal-wr4mi Yeah I know, but need to learn which are the most imp. For that you may refer some faculties' videos.
Hope it will be helpful to you!
Sir notes kaha par milenge?
You can download it from following link:
drive.google.com/drive/folders/1e80LpU-9QLxOT5sO2LyPBvp9AYXurY-f
Sir aap gujarat se ho?
Yes!
Accent are indicator of it! 😅
Sir 1:50:28 e chhakda no avaj avyo etle mane lagyu ke tame apdi side na chho 😆
@@NishitNishit-s1x Hahahahah! Great observation! You will become good auditor 😅😅
REALLY HELPFUL SIR
Glad to hear that
Keep watching and learning!
Sir please can you upload the remaining chapters as well
From tomorrow I'll resume to upload videos... couldn't upload due to some reasons!
Also, you may download full notes of Audit for revision, from the following link:
drive.google.com/file/d/1sqQ4hcQIK8NryRJdzjVx3eQu4O2mEcYF/view?usp=sharing
Hope it would be helpful to you!
Thanks for your patience!
@@CAKrupenYHathi thanks sir .
Your lectures are of great help
thank you sir
Most welcome
Limitation of internal control ka matalab kya hai sir❤
Matlab ki Internal controls are not perfect, kuch na kuch to galtiyan to reh jaayegi...
Hope your doubt is clarified!
Feel free to reach out for more clarifications!
Thanks
Sir will you upload marathon vedio on audit for may24 ??
Yes, maybe within a week it will be uploaded!
@@CAKrupenYHathi Thank you sir.... We are waiting for your marathon....
best lecture
Glad to hear that!
Sir notes of the chapter?
Notes are uploaded, click on the following link:
drive.google.com/file/d/1ldxKc3bUMPqsgPd-0g8_AKZIhfH91qDN/view?usp=sharing
Thanks for your patience!
Hope it will be helpful to you.
Sir noted are no longer available. It's not showing anything
@mdimranali7442 drive.google.com/drive/folders/1e80LpU-9QLxOT5sO2LyPBvp9AYXurY-f?usp=drive_link
Sir I find difficulty in understanding case study 1
Do you have problem in all 5 points and question or any specific point or question? As each point and question is different than each other.
Let me know the points you are unable to understand, will clarify it.
Thanks
@@CAKrupenYHathi second point sir
@@DivyaChauhan-c4f In the second point, it is mentioned that due to entry of new product, company's product is getting outdated. In that case, market value of the company's maybe reduced, even it can be lower than Cost. Considering Conservatism in Accounts and complying with AS 2 provisions, company shall value Inventory at lower of Cost or NRV. As mentioned, chances are there that NRV of the product is lower tham Cost and shall be valued at NRV. However, the company might have valued at Cost which could be higher than NRV. Then it would become the risk i.e. the Misstatement exist even before auditor starts Auditing and here the risk is that Inventory might be overstated.
Hope your doubt is clarified!
Feel free to reach out for more clarifications!
Thanks
@@CAKrupenYHathi thankyou sir
Tqeww sirr❤❤
Welcome
Helpful thanks.
Glad it was helpful!
Sir I'm doing cumulative revision of audit along with audit classes but it takes so much time that I can't do anything of other subjects after that ......
Plz guide me sir ????😕😕😕
Are you going to appear for Group 2 only?
Also let me know the your study status.
@@CAKrupenYHathi gonna appear for both in Jan 25 ..
Currently Im doing both group concurrently
Approx 50-52 % course done
Giving weekly tests
Strategy is that will prepare & rewise theory subs first then revise as much as I can ...along with practical sub
@@OnepieceisREAL..0 so you are going on right pace, Audit is time taking subject! You may keep 2-3 Hours for audit a day, don't try to complete whole chapter in a day, keep reading it daily, after 2-3 Hours a day, shift to another subject! So that you can complete other subjects as well!
@@CAKrupenYHathi but the mess is that in 2-3 hours I can do only 3-4 page of module ....& Our sir do 8-10 page everyday ...
So I get back log in audit
And as audit take time I also get back log in all other subjects 🤡
@@OnepieceisREAL..0 You need to increase your speed, as if you are taught the subject then you can't allot 2-3 hours to read 3-4 pages! You have to increase speed! Gradually, it may increase! You may refer my videos, I have covered whole ICAI module around in 60 hours!
Please provide notes sir
Notes are uploaded, click on the following link:
drive.google.com/file/d/1ldxKc3bUMPqsgPd-0g8_AKZIhfH91qDN/view?usp=sharing
Thanks for your patience!
Hope it will be helpful to you.
Sir please cover remaining topic
Whole audit is already covered!
Following is the link of playlist:
ruclips.net/p/PLux8FsMkulSVY8Y8f4b8YmgJJqoZsaomv
Hope it would be helpful to you!
🙏🙏🙏
So you have not uploaded the complete chapter it's only 90 % of the chapter I am facing very much problem in understanding the rest of the part which is not explained in this video
I have covered whole chapter from Module!
Can you please let me know which part do you think is missing?
Sir key words ko thoda aur explanation kar dijiyega❤
All lectures are already uploaded, so if you have any doubt about any key word, you may comment, I'll reply.
Bro you are just reading . Not explaining anything
Hope you have commented after watching substantial portion of the video... as it might be possible that some of the portion does not require much explanation! Also, lecture from module, covering line by line, may seem that it is just reading... but it has explanation, sometimes that paragraph is self explanatory and I think I have tried to teach the all concepts which can be understood by the students. Yes, that's true that I have not covered many examples due to time constraints.
If you feel, you may check out other chapters... or else you will definitely find some better videos!
All the best!
Bro don't disrespect someone's effort ..if someone is providing you the content free of cost ..then watch it and if u are not understanding just switch it to another educator
.but don't disrespect them
@@CAKrupenYHathi Don't give answers to them. you are much better educator than so called famous teachers. i can understand every line qualitatively. Thankyou for this
@@CAKrupenYHathiआग का जवाब पानी से सर ने दिया That's amezing ❤
@@ishaagarwall0724bro may be it is a fake account of other so called famous audit teachers 😂
Sir learn Kara dijiye
You may refer following revision video:
ruclips.net/video/dGuBBDa9VGE/видео.html
@@CAKrupenYHathi thank you so much sir 👍🏻🙏🏻
Don't just read the things.....we can do that too try ....explain concepts with examples
Hope you have commented after watching substantial portion of the video, as some part may not require much detailed explanations, even they may have been covered already in some other part of videos!
I would like to cover up whole module since most of the students are not going to read on their own and there are many cornering points which have potential to be asked as question.
I have tried to make these concepts understandable, yeah I agree with that I have not taken many examples as there is time constraint, hope you would understand this!
I have already uploaded all the chapters' videos, so unable to implement your suggestion as of now, in future, when I'll come up with any other series of lectures, will take care of your suggestion, thanks for the suggestion!
However, you may feel free to ask any doubt, if you feel in any concept, point, question etc.
I'll advise you to check out whole video or even any other chapter or else you may find some better videos over internet!
All the best!
@@CAKrupenYHathi well thanks for your concern although it was just an opinion......u have put so much of efforts that's commendable 👏
Thanks!
Will consider your suggestion in future videos!
Thank u sir
Thanks sir