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Bangalore University - B.Com 6th Sem - Auditing - II (Accounting Group)


AUDITING II (Elective Paper - I)
OBJECTIVES:
To enable the students to understand the procedures of auditing of different types of concerns.
UNIT 1 : VOUCHING 20 hours
Meaning -definition -importance - routine checking and vouching - voucher-types of vouchers - vouching of receipts-cash sales- receipt from debtors - bills receivable-proceeds of the sale of investments and buildings- payments-vouching of cash purchases -payment of creditors, bills payable-purchase of fixed assets-vouching of deferred revenue expenditure-preliminary expenses - cost of issue of shares and debentures -underwriting commission.
UNIT 2 : DEPRECIATION : 10 hours
General considerations - methods of depreciation - their suitability for various assets - legal position as regards depreciation - change of depreciation - auditor's duty as regard depreciation.
UNIT 3 : AUDIT OF LIMITED COMPANIES AND OTHERS 15 hours
Company Auditor - appointment, powers, duties and liabilities - divisible profits and dividend - Special Audit of Banking Companies- Audit of Education Institutions - Audit of Insurance Companies.
UNIT 4: AUDITING STANDARDS 07 hours
Mandatory Auditing Standards issued by the Institute of Chartered Accountants of India -
:Professional ethics of an Auditor.
UNIT 5 : RECENT TRENDS IN AUDITING : 08 hours
Nature and significance of cost audit -tax audit-management audit
SKILL DEVELOPMENT:
- Draw Specimen of Vouchers - at least three Vouchers for different purposes.
- Case law on depreciation - facts and judgements.
- Record the procedure and practices followed which auditing (a) Educational institutions (b) Insurance Companies or Banking Companies.
- List out Mandatory Standards issued by ICAI.
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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