Co Op Housing Society Audit as per MCS ACT 1960 | Housing Society Audit - MCS ACT Section 81 & 82

[@prabhakarshinde7476]

Pls clarify on Age of Members outstanding. As per prudent accountig norms, if age of Member's outstanding is beyond 3 months then either adequate provision to be provided in the System or members outstanding shouldbe shown both side of Balance sheet and after effecting the actual recovery amount to be appropriated towards relevant Income and Expenditure account. . Chances of Losses in the subsidiary account is less unless they account the amount after actual cash recovery.

[@asifshaikh9472]

nice sir

[@kclsocietyservices4997]

Keep watching

[@suhasgirme5662]

Good evening Sir..very nicely explained about how to read the balance sheet and income and expenditure..for reading all these i have a query that is "when we receive an agm notice, nothing is enclosed with it and we get all the reports at the time of agm. Is it correct or does the secretary must attached the audit report along with the agm notice which we get 14 days before?

[@kclsocietyservices4997]

In AGM notice, Balance sheet, Income & Expense and Agenda must be attached

[@suhasgirme5662]

@@kclsocietyservices4997 Thank You very much sir.. now the question comes just after one month secretary issue us a notice and i will send it back to him with a remarks as you said and he may take a week or so then what we can do?