Upload
trantram
View
212
Download
0
Embed Size (px)
Citation preview
AUDI TOR'S REPORT TO THE COUNCIL OF TRUSTEES Educational Trust
leport on the financial statements:
have examined the accompanying financial statements of MIS College of Engineering, Bangalore Department of Post Graduate Studies PhD and M.Sc. ("College") Bangaiore
which comprise the Balance sheet as at March 31, 2016 and the Income and Expenditure
Account for the year ended on that date and a summary of significant accounting policies
and other explanatory information.
Management's Responsibility for the financial statements:
The said financial statements are responsibility of the Management. Our responsibility is to
express an opinion on these financial statements based on our audit. This responsibility
;nciees the design implementation and maintenance of internal control relevant to the
preparation and fair presentation of the financial statements that are free from material
misstatement, whether due to fraud or error.
Auditor's responsibility:
Our responsibility is to express an opinion on these financial statements based on our audit .
We conducted our audit in accordance with Auditing Standards generally accepted in India. chose standards require that we comply with ethical requirements, plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from nnatr--ial misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts :,nei disclosures in the financial statements. The procedures selected depend on the auditor's
judgement, including the assessment of the risk of material rnisstate, -nents of the statements, whether due to fraud or error. In making those risk assessments, the ai.itor
considers internal control relevant to the management's preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness :of the
entity's internal control. An audit also includes evaluating the appropriateness of accouritng
policies used and the reasonableness of the accounting estimates made by management, a.;
well as evaluating the overall presentation of the financia! statements. We believe that tile
audit evidence we have obtained is sufficient and appropriate to provide a basis I:or our
audit opinion.
dusts for Qualified Opinion:
a) As referred to in Note no. 2 of Schedule — F share of expenditure in respect of use
of infrastructure facility of BMS College of Engineering is not identifiable
separately.
Qualified Opinion: In our opinion arid to the best of our knowledge and according to the
explanations given to us, except for the effects of the matters described in the
Basis for Qualified Opinion paragraph, the said accounts give a true and fair view:
a. In the case of the Balance Sheet, of the state of affairs of the College as at March 31,
In the case of the Income and Expenditure Account, the excess of income over
expenditure for the year ended on that date.
Report on other legal & regulatory requirements:
1. The said Balance Sheet and corresponding Income and Expenditure are in
agreement with the books of accounts maintained by the said College.
2. We have obtained all the information and explanations which to the best of
our knowledge and belief were necessary for the purposes of the audit.
3. In our opinion proper books of account have been kept at the offices of
College, so far as appears from our examination of the books.
Emphasis of Matter: Attention is drawn to Note 3 of Schedule F, regarding accounting standards
pi .escribed by the Institute of Chartered Accountants of India not being applicable
and deviation/disclosures thereof not being material in respect of which we have
relied on the representation of the management. Our opinion is not qualified in
this matter.
naw e 1 - 03-16
Place: Bangalore
For B. K. Ramadhyani & Co. LLP,
Chartered Accountants
Firm Registration No 002878S/S200021
r C .R. Krishna)
Partner
Membership No. 027990
B K RAM A D YA NI & CO. L. t_ " CHARTERED ACCOUNTANTS No. 68, # 4-B, Chitrapur Shav:2i:7,
8th Main, 15th Cross, Malleswarz3ri , BANGALORE- 560 055
Dr.till 11 air su abu A ■
PrinWIN B.M.S. College of Engineering PlatiANGALIORE - 560 019 Date :0 -S-t6
Sri Chief Fina Officer
DEPARTMENT OF POST-GRADUATE STUDIES - Ph.D. & M.Sc. (Engg) BALANCE SHEET AS AT 31st MARCH 2016
AS AT 31.03.15 LIABILITIES SCH AS AT
31.03.16 AS AT
31.03.15 ASSETS SCH
89,56,362 Income and Expenditure Account B/ F 1,13,63,131 24,063 Fixed Assets C 24,06,769 Add: Excess of Income over
Expenditure for the year 28,16,936 1,13,63,131 Sub Total 87,47,608 Inter College Accounts D 1,41,80,067
6,365 ' Other Liabilities A 31,195 11,34,833 Saving Bank Account:
Allahabad Bank A/c 2027 4 191446 19,018 Sundry Creditors B 18,000
13,25,000 'Fees Arrears 60,830 CSIR Grants 2,52,430
2,05,110 Advances
1,14,36,614 TOTAL 1,44,81,692 1,14,36,614 TOTAL
AS AT 31.03.16
18,282
1,12,49,588
14,37,912
15,10,000
-2,65,910
1,44,81,692
Vide our report attached of even date For B.K.Ramadhyani & Co. LLP
Chartered Accountants Firm Registration No. 002878S/S200021
C.R.Krishna Partner
Membership No. 027990 B K RAMADHYAN1 & CO. LLP
CHARTE.ir0 ACCOUNTANTS No. 68, # 4':rrrhitrapur
BtMV311,
8th Main, 15th Cross, Malle3wararn., BANGAt ORE -
560 0:..)5
Accounting Policies and Notes to Accounts - Schedule F
For BMS College of Engineering, Department of Post Graduation
DEPARTMENT OF POST-GRADUATE STUDIES - Ph.D. & M.Sc. (Engg)
INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH 2016
PREVIOUS
YEAR EXPENDITURE
CURRENT
YEAR
PREVIOUS
YEAR INCOME
CURRENT
YEAR
33 ; 600 To Hospitality Expenses 15,400 24,85,700 By Tuition Fees 28,61,150
20,163 To Audit Fee 18,000 32,687 By Bank Interest 54,469
45,500 To VTU Affiliation Fee 30,000
7,652 To Depreciation 5,781
682 To Conveyance & Hire charges
3,992 To Recurring Expenditure 26,444
29 To Miscellaneous Expenses -
- To Contingencies 1,020
- To Prior Period Expenditure 2,038
To Excess of Income over Expenditure for 24.06,769
the year 28,16,936
25,18,387 TOTAL 29,15,619 25,18,387 TOTAL 29,15,619
Vide our report attached of even date
For B.K.Ramadhyani & Co. LLP
Chartered Accountants
Firm Registration No. 002878S/S200021
i." -- Ett\11 8, CO LLP
(..; ,__P N6c6tyitoi,NTS
No. 6i, 4 4-3, Chitrapd laavan, filth Mzilkr1-5th Cross, Malleviat-ro,
BANGALORE.- 560 055
Accounting Policies and Notes to Accounts - Schedule F
For BMS College of Engineering,
Department of Post Graduation
rV Dr. K ajikharir a Bab.
PriPiNN AL B.M.S. College of Engineering
p lwigtiogg - 560 019 Date :
Sr fla e Officer
C.R.Krishn