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Bangalore University - B.Com 5th Sem - Auditing - I (Accounting Group)
Posted Date: 10 Dec 2007 Resource Type: Articles/Knowledge Sharing Category: General
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Posted By: Jyothi Member Level: Diamond
Rating:  Points: 1
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AUDITING - I (Elective Paper - II)
OBJECTIVES:
This course aims at imparting knowledge about the principles and methods of auditing and their applications.
Unit 1: INTRODUCTION TO AUDITING 10 hours
Introduction – meaning- definition – difference between accountancy and auditing – types of audit - – advantages of auditing – preparation before commencement of new audit.
Unit 2: INTERNAL CHECK 15 hours
Meaning and objects of internal check – internal control-meaning definition-fundamental principles-internal check as regards wages, cash sales, cash purchases - internal check in a departmental stores-internal audit – meaning-importance – advantage and disadvantages.
Unit 3: VERIFICATION AND VALUATION OF ASSETS AND LIABILITIES 15 hours
Meaning and objectives – position of an auditor as regards to the valuation of assets – verification and valuation of different items – assets –fixed assets -goodwill – stock in trade – investments – liabilities – capital – debentures – bills payable sundry creditors – contingent liabilities.
Unit 4: AUDIT OF DIFFERENT ORGANIZATIONS 10 hours
Drafting of audit program or trading and non-trading organization in a tabular form . Preparation of clean and qualified audit report with special reference to manufacturing and other Companies Audit Report 1975
Unit 5: AUDITING UNDER COMPUTERIZED ENVIRONMENT 10 hours
Uses and constraints of computerized audit – tallying – voucher entry- account information.
SKILL DEVELOPMENT
•?Collect the information about types of audit conducted in any one Organization
•?Visit an audit firm, write about the procedure followed by them in Auditing the books of accounts of a firm.
•?Draft an investigation on behalf of a Public Limited Company
•?Record the verification procedure with respect to any one fixed asset.
•?Prepare a qualified or clean audit report for a given situation.
•?Draft an audit program.
BOOKS FOR REFERENCE:
1. TR Sharma, Auditing.
2. BN Tandon, Practical Auditing.
3. MS Ramaswamy, Principles and Practice of Auditing.
4. Dinakar Pagare, Practice of Auditing.
5. Kamal Gupta, Practical Auditing.
6. P N Reddy & Appannaiah, Auditing.
7. Shekar, Auditing.
8. Pradeep Kumar, Auditing.
9. Jagadeesh Prakash, Auditing.
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