Part-I : THEORY & PRACTICE OF AUDITING
Min. Pass marks : 36
3 Hrs. duration
Max. Marks : 100
1. Auditing : Meaning, Objects, Fraud, errors : Book-keeping, Accounting and Auditing; Classification of audits; Planning and procedure of audit; Audit programmes; Auditor's working papers, Test checking; Routine checking. 2. Internal control : meaning, objective and evaluation of internal control; internal check and internal audit; Internal control regarding sales, purchases, assets, liabilities and salaries and wages; vouching.
3. Verification and valuation of assets and liabilities; Rules laid down in Kingston Cotton Mills Co. Ltd. (1896); Irish Woolen Co. Ltd. (1901); Westminister Road Construction & Engineering Ltd. (1941) and Thomas Gerard and Sons Ltd. (1967).
1. Audit of sole proprietorship and partnership concerns. Educational institutions, Cinemas, Clubs and Hospitals.
2. Audit of joint stock companies : Appointment, removal and remuneration of company auditor; Audit of share capital, debentures and mangerial remuneration, Audit for the purpose of Statutory Report and Prospectus; Audit of Government Companies with reference to Section 619 to the companies Act, 1956.
1. Rights, duties and liabilities of an auditor and Rules laid down in London and General Bank Case (1895); Hedley yrne and Co. Ltd. v/s Heller and Partners Ltd. (1863); CIT v/s G.M. Dandekar (1952); Anupam Roy v/s P.K. Mukherjee (1956). 2. Divisible profits including audit of Reserves and Provisions. 3. Audit Reports and Audit Certificates.
4. Investigation : Meaning, objecgtives procedure; Investiation on behalf of perspective purchaser of business, banker and prospective investor. 5. Cost Audit : Meaning, Nature, Objective, Scope and types of cost audit.
Book Recommended :
1. B.N.Tondon: ANKEKSHAN
2. T.R> Sharma: ANKEKSHAN
3. S.M. Shukla: ANKEKSHAN
4. Jain, Khandelwal:ANKEKSHAN
5. Spicer & Paglar : Practical Auditing (Indian Ed.)
6. De Paula : Principles of Auditing
7. J. Lancaster : Princi;es and Practice of Auditing.
8. R.G. Williams : Elements of Auditing.
9. Mautz and Sharaf : Philosophy of Auditing.
10. Ronald I. Irish : Auditing.
11. Jagdish Prakash : Auditing.
12. Krinadwala & Krishnadwala : Auditing.
Paper-II : OPTIONAL PAPER (ANY ONE TO BE OFFERED)
Paper-II (1) : MANAGEMENT ACCOUNTING
Min. Pass Marks : 36
3 hrs. duration
Max. marks : 100
1. Introduction : Meaning of management accounting, conventions of management accounting, organisation of management accounting, functions, responsibilities and qualities of a management accountant, management accounting Vs. traditional accounting, limitations of management accounting. 2. Capital structure : Determinants of capital structure, optimum capital structure. Basic theory capital structure.
3. Operating and financial leverage.
4. Working Capital : Concept, factors affecting working capital requirements, ascertainment of working caipital requirements, salient features of Tandon Commitee and Chore Commitee reports.
5. Financial Analysis : Meaning, nature and importance of financial statements, techniques of financial analysis comparative statements, common size statements, trend analysis, limitations of financial statements analysis. 6. Elementary Ratio Analysis.
7. Cash flow and fund flow Analysis.
8. Cost of Capital.
9. Capital expenditure decisions, Pay-back period, return on investment, discounted cash flow.
10. Responsibility accounting.
11. Reporting to management.
Note : The candidate shall be permitted to use battery operated pocket calculator that should not have more than 12 digits, 6 functions and 2 memories and should be noiseless and cordless.
Books Recommended :
1. Hingorani, Ramnathan and Grewal : Management Accounting.
2. Man Moha & Goyal : Management Accounting.
3. N.K. Kulshreshtha : Theory and Practice of Management...