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1)To write-off accumulated losses.

2) To show true and fair view of financial position of the comapny.

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Q: What are the objectives of internal reconstruction?
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Distinguish between internal and external reconstruction of a company?

internal reconstruction no new company is formed in external reconstruction an existing company is dissolved and a new company is formed with the same shareholdders. there will be absence of liquidation expenses in internal reconstruction. liquidation expenses is present in external reconstruction.


What are Performance Appraisal objectives of Internal Auditors?

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Under what circumstances internal reconstruction becomes desirable how it is affected?

It's also desirable to use internal reconstruction to uncover an earlier form of various languages, and to submit those pre- languages to comparative method.


Distinguish between internal and external reconstruction?

INTERNAL RECONSTRUCTION- when the name of the co. remain as before but changes are made in assets and liabilities of the co. and entries are made in the books of the co. of such changes and balance sheet is amended it is called internal reconstruction. EXTERNAL RECONSTRUCTION- when such heavy changes are not possible or new capital is to be issued or there is much dissent among shareholders or by changing the name of the co. , an effort is made to give new life to the co. the co. is liquidated and a new co. is formed to purchase the assets and liabilities of old co. ,it is called external reconstruction.


What is Internal reconstruction in company?

Capital of a company is reorganized to infuse new life in the company.


Three internal control objectives for financial reporting?

There are actually four internal control objectives of financial reporting. They are 1) Control Environment 2) Risk Assessment 3) Information and Communication Systems 4) Monitoring. These internal control objectives help aid in presenting financial statements that are free of material misstatements. But just because internal control measures are implemented, doesn't mean people cannot circumvent those controls.


The objectives of internal control are to?

Internal control serve as alert systems for businesses. Once they have established triggers, they can operate their business knowing they won't have too many mistakes with internal controls in place.


Objectives of an internal control system?

An internal control system aides in ensuring financial statements are free from material misrepresentation and assets are sufficiently protected from misappropriation.


What is the operational performance objectives and the internal and external benefits of project management?

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Internal environmental analysis in an organization?

Internal environmental analysis in an organization involves evaluating its strengths and weaknesses, resources and capabilities, culture, structure, and processes. This analysis helps identify areas where the organization excels and areas that require improvement to achieve its goals and objectives. It often involves assessing how well the organization's internal factors align with its strategic objectives.


What is the purpose of the Institute of Internal Auditors' internal audit function?

The internal audit function is to ensure that an organization meets its objectives through a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance


The internal control evaluation plan is developed by the Assessable Unit Manager managers and the Internal Control Administrator in accordance with SRO guidance and organizational objectives?

true