Exam Tips:Remembering technique for 21 points of "CARO"

Remembering technique for 21 points of "CARO"

read as " IF CCD IS FILLED GRAB SPECIAL (SPL) TEA (T)"

I - INVETORIES
F - FIXED ASSETS

C - COST ACCUNTING RECORDS
C - CHIT FUNDS
D - DEPOSIT

I - INTERNAL CONTROL
S - STATUTARY DUES

F - FRAUD
I - INTERNAL AUDIT
L - LOAN TO/FROM DIRECTORS
L - LOAN AGAINST SECURITIES
E - END USE OF ISSUE PROCEED
D - COMPANY DEALING IN SECURITIES

G- GUARENTEE GIVEN
R - REPAYMENT OF DUES
A - APPLICATION OF FUNDS
B - END USE OF BORROWING

S - SECURITIES FOR DEBENTURES ISSED
P - PREFERNTIAL ALLOTMENT
L - LOSS MAKING COMPANY

T - TRANSACTION COVERED U/S 301