Telecom
Telecom accounts are built from very large numbers of small charges. The work covers revenue recognition across prepaid and postpaid plans and bundled offers, release of deferred revenue as service is delivered, and reconciliation of interconnect and roaming balances with other operators. Network equipment is capitalised and depreciated by class, and licence-related levies and GST are accounted for as the rules require. Reporting is by circle or segment, so the books must support that cut.
Financial intermediaries
Lending, broking, and distribution businesses work under their own regulators and report on their own formats. The work covers recognition of interest and fee income, provisioning against loans, reconciliation of client money and settlement balances, tax deducted on interest and commission, and GST on fees. The auditor’s role often extends to certificates and returns that a regulator or lender asks to be supported by the audited books.
Manufacturing
Cost of production is the centre of the books. The work covers stock of raw material, work in progress, and finished goods; valuation at cost or net realisable value; wastage and scrap; and the tax treatment of plant and machinery. Input credit under GST is tracked against the inputs actually used, and cost records are kept where the law asks for them.
Trading and distribution
Margin, stock turnover, and credit control matter most. Purchase and sales registers must agree with the returns, debtors need ageing, and stock must be counted against the book figure. Schemes, discounts, and year-end credit notes are accounted in the period they belong to, with the GST effect recorded correctly.
Retail and FMCG
High volumes of small transactions come through point-of-sale systems, payment gateways, and multiple outlets. The books depend on daily sales reconciliation to bank and gateway settlements, outlet-wise stock records, and the treatment of returns and loyalty benefits. Trade schemes and distributor margins need consistent policies.
Real estate and construction
Revenue is recognised over long projects, so the method and the stage of completion must be stated and applied the same way each year. Accounts follow project-wise costing, advances from customers, and retention money. GST on works contracts and on sale of property, and the tax deducted on payments to contractors, are checked project by project.
IT and professional services
The cost base is mainly people, so payroll accounting, time and project records, and the timing of billing against delivery drive the figures. Export of services raises questions of place of supply, foreign exchange receipts, and the documents that support zero-rated supplies. Withholding on foreign payments needs its own checks.
Healthcare
Hospitals, clinics, laboratories, and pharmacies bring a mix of exempt and taxable supplies. The books separate them, and input credit is apportioned between them. Stock of medicines and consumables is tracked by batch and expiry, and payments to doctors and visiting consultants carry withholding that must be returned correctly.
Education, trusts, and not-for-profits
Receipts are classified as fees, grants, or donations, and each has its own tax and accounting treatment. Trusts and societies must keep their registration conditions, record the application of income to their objects, and file the returns and audit reports required of them. Restricted funds and grants are tracked against the purpose for which they were given.
Logistics and transport
Trip-wise and vehicle-wise records support the revenue and the cost of fuel, tyres, drivers, and maintenance. The accounts also deal with e-way bill compliance, GST on transport services under forward and reverse charge, and the tax deducted on payments to vehicle owners and sub-contractors.
Hospitality
Room, food, and event revenue are billed at different rates and recorded separately. Daily takings are reconciled to cash, cards, and online booking settlements; commissions paid to booking platforms are accounted with the related tax. Inventory of food and beverage, and service charge collected, need defined policies.
Start-ups and growth-stage companies
Early records tend to be the weak point later. The work here is an accounting set-up that scales, a clean capital structure and register of shares, payroll and consultant payments treated correctly, and a monthly report that investors and lenders can read. Funding rounds bring share valuation, allotment filings, and use-of-funds records.