Revise Standards on Auditing with your relationship! (SA 300 + 400 series)
(Sorry for the analogy but it will help you to remember)
Before starting a relationship, even before getting into one, what do you do? Do you just go and ask out? No. We plan first. (SA 300)
Thinking about past experiences, we realize it is important to understand the person and the risks involved. (SA 315)
Now, according to our income, we look at the budget for gifts. If someone is a CA, they might take them to a cafe, if someone is a CA article, then Ramji Chole Bhature zindabaad. Whether the amount is material or not depends on the person. (SA 320)
Even with all the planning, there is always a fear of rejection until the other person responds in the way we had assessed. (SA 330)
Sometimes, I have seen students taking another route - their already close friends. They are in a position to increase the chances, right? Always utilize someone else's services when you can. (SA 402)
And friends can also give advice based on their own experiences, reminding us to be careful and evaluate things properly. (SA 450)
Spoiler alert: In the 500 series, we talk about the story of the girl's best friend. 👀
Is it helping you out to revise even for a few minutes? Do let me know.
Seekhna Shuru Toh Jeetna Shuru!
#sa300 #sa400 #audit #ca #may24