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A series of suggestions on the procedures for commencing the examination of tax returns and appropriate accounting records have already been presented. The initial phase includes a verification of the net income per books with the reconciling items reflected in the tax return.

After the foregoing process, the Revenue Officer should turn his attention primarily to the books and records bearing in mind that there are some reconciling items which affect the net income per books.

The following discussion offer guides and techniques in examining asset, liability and net worth accounts. The Revenue Officer, however, is not precluded from applying other techniques which are deemed necessary in a particular case.


Reference: RAMO 1-2000