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B.

COM
Semester V
Industrial Management
(100 Marks- 75 Lectures)
Objectives: To acquaint the students with knowledge about industrial management,
industrial productivity and total quality management

Unit I: INTRODUCTION TO INDUSTRIAL MANAGEMENT:

(10 Marks-5 Lectures)

Concept of Industrial Management Industrial Management Process Importance of


Industrial Management .
Meaning of Scientific Management- Principles of Scientific Management-Benefits and criticisms
of Scientific Management.
Unit II: INDUSTRIAL PRODUCTIVITY:

(35 Marks-27 Lectures)

a) Meaning of Productivity: Factors affecting Industrial Productivity Significance of higher


Industrial Productivity Suggestions for Productivity improvement-Role of National Productivity
Council.
b) Work Study: Concept of Work Study Advantages of Work Study.
Method study- Importance and steps in method study
Work Measurement Importance and steps in work measurement. Work Measurement
Techniques- (in brief) Predetermined Time Study, Work Sampling,Synthesis and Analytical
Estimating
c) Rationalisation: Meaning of Rationalisation Aspects of Rationalisation. (i) Technological
aspect (ii) Financial aspect (iii) Human aspect (iv) Organizational aspect Need for
Rationalisation of Indian Industries Steps initiated by Government of India to facilitate
Rationalisation.
Unit III: TOTAL QUALITY MANAGEMENT:

(25 Marks-16 Lectures)

Concept of TQM Principles of TQM Benefits of TQM .


Methods of TQM Management methods (i) Benchmarking - Meaning, Types of
Benchmarking, Steps in Benchmarking Process(ii) Deming Wheel Steps in Deming Wheel(iii)
Just in time- Objectives and Characteristics of Just in Time (iv) Quality Circles-Concept and
features of Quality Circles.
Analytical methods (i) Critical Path Method Process and advantages of Critical Path
Method(ii) Force Field Analysis Driving and restraining forces, decision making(iii) Failure
Mode and Effect Analysis Meaning and steps in Failure Mode and effect Analysis ISO9000-Concept, Standards and guidelines. (in brief)

Unit IV: INDUSTRIAL SAFETY:

(30 Marks 27 Lectures)

Definition of safety Objectives of Safety Management .


Industrial Accidents Causes of Accidents (a) Mechanical causes (b) Human Causes

Code of practices for accident prevention.


Effects of Industrial accidents on employers, workers and society.
Concept of Occupational Safety (i) Occupational Health- Concept and legal provisions
regarding health (ii) Occupational environment.
Factors affecting Work Environment - Lighting, air, ventilation, temperature, water, sanitation
and noise.
Occupational Hazards - Biological Hazards, Chemical Hazards and Psychological Hazards.
Industrial Pollution - Causes, Effects and measures for pollution control.
ISO- 14000- Meaning, ISO 14000 certification, organizational evaluation and product evaluation.
(in brief)
OHSAS 18000- (Occupational Health and Safety Standards) - (In brief)
Books for Study and Reference:
6) James Lundy, Effective Industrial Management-, Eurasia Publishing House(Pvt.) Ltd.
New Delhi
7) Martand Telsang, Industrial and Business Management-, S Chand & Company Ltd.
New Delhi
8) Dr. Neeru Vasishth, Students Guide to Business Organisation-, Taxmann Allied
Services Pvt. Ltd.New Delhi
9) A.S. Deshpande, Industrial Organisation and Management , Vora & Co Publishers Pvt.
Ltd. Mumbai.
10) N.G.Kale, M.Ahmed, Industrial Management, Vipul Prakashan, Mumbai

B. COM
SEMESTER V
ENTREPRENEURSHIP DEVELOPMENT I
(100 Marks- 75 Lectures)
OBJECTIVE: To motivate the students to be self employed. From the syllabus they will get
theoretical knowledge on how to start an enterprise of their own. Practical knowledge can be
obtained through assignments like writing a project report to obtain finance or interviewing
existing entrepreneurs.
UNIT 1-INTRODUCTION

(20 Marks-15 Lectures)

a. Definition and concept of entrepreneur


b. Qualities of entrepreneur: willingness to assume risk, leadership, decisiveness, creative
thinking, confidence in project, technical knowledge, flexibility, ability to marshal resources,
market orientation, determination courage and perseverance, honesty, drive to achieve and
grow, low need for status and power.
c. Skills required for entrepreneurs: conceptual, technical, human relation, communication,
diagnostic, decision making, managerial, project development and marketing skills.
d. Functions of entrepreneurs: Innovation, planning the project, organising, risk-taking and
uncertainty bearing, procurement and mobilisation of resources, taking business decisions,
perception of market opportunities, marketing of products and responding to the competition,
financial management, upgrading process and product quality, fulfilling social obligations,
dealing with public bureaucracy and developing social atmosphere.
UNIT II Origin and development of entrepreneurship.
Brief historical background,
Theories of entrepreneurshipeconomic and integrated theory of entrepreneurship.
Role of entrepreneur in economic development
Entrepreneur V/s Intrapreneur, features of Intrapreneurs.

(20 Marks-15 lectures)


sociological, psychological,

Types of entrepreneurs-Innovative, imitative, fabian, drone, rural, professional .


Recent trends-sociopreneur, edupreneur, ecopreneur, and agropreneur
Women entrepreneurs- features.
UNIT III Identification of business opportunities
(20 Marks-15 lectures)
SWOT analysis
Environment scanning-meaning and benefits
Factors considered for environment scanning- socio-cultural, economic, technical, demographic,
legal and political, geographical and international factors.
Sources and steps involved in identification of business opportunities.
Market research- meaning, need for market research, techniques in market research- field
survey techniques, test marketing, Delphi technique, desk research ,observation method and
experiment method.

UNIT IV Project formulation

(20 Marks-15 lectures)

Meaning and concept of project formulation


Stages in project formulation
a)Elements of project formulation-feasibility analysis, techno-economic analysis, project design
and network analysis, input analysis, financial analysis.
b)Project Appraisal-concept and features, methods of appraisal-break even analysis, cost
benefit analysis, social cost benefit analysis and profitability analysis.
c)Project Selection-meaning,
Factors to be considered for project selection-rawmaterials, credit facilities, market forces,
competition, government policy, incentives and subsidies, labour force, capital
requirements, infrastructure, profitability (elementary knowledge).
d)Project report-meaning importance and contents of project report.
UNIT V Innovation in entrepreneurship

(20 Marks-15 lectures)

Purposeful innovation-unexpected success/failure, process need, change in demography,


industry and market structure, incongruities, change in perception, new knowledge
Principles of purposeful innovation-Dos, Donts and the three conditions
Incubation centres-meaning, services and role of incubation centres, study of any two
incubation centres in Goa.
Self-help groups- meaning and role.
Books for Study and Reference:
Dynamics of Entrepreneurship Development by Vasant Desai
Innovation and Entrepreneurship-Practice and Principles by Peter Drucker
Entrepreneurship Management-Romeo Mascarenhas (Vipul Prakashan)
Entrepreneurship Development and Management-Jose Paul, Ajith Kumar (Himalaya publishing
house)
Entrepreneurial Development Dr S.S. Khanka (Sultan Chand publication)
Entrepreneurship Development-Gordon and Natarajan (Himalaya publishing house)
Entrepreneurial Development-C.B. Gupta and Srinivasan(Sultan Chand)
Entrepreneurship Management- Achut P. Pednekar( Himalaya publishing house)

B. COM
SEMESTER V
INTERNATIONAL ECONOMICS
(100 Marks- 75 Lectures)
Objectives of the Course: To enable students understand the role of international trade and
investment in economic growth and development; to acquaint students with the various
macroeconomic variables that are of significance in an open economy; to help students
understand economic trends in the global economy
Unit 1: International Trade

(25 marks-19 lectures)

International trade meaning; Factors giving rise to International Trade (comparative


advantage, resource endowments, technology, economies of scale, product differentiation,
operations of Multinational Corporations); Gains from International trade; Terms of Trade
meaning and 3 concepts (Net Barter, Gross Barter and Income Terms of Trade); Free Trade v/s
protectionism; types of protective devices - tariff and non-tariff barriers (exchange control,
voluntary export restraints, anti-dumping duties & countervailing duties, social clauses such as
labour & environmental standards, sanitary & phytosanitary measures and administered
protection)
Unit 2: Foreign Investment

(25 marks-19 lectures)

Foreign Investment meaning and composition (FDI & FPI)


Foreign Direct Investment: Meaning; Multinational Corporations and Foreign Direct Investment;
Entry modes adopted by MNCs (licensing, franchising, joint ventures/collaborations, whollyowned subsidiaries, mergers and acquisitions); Determinants of FDI (resources, market size,
trade barriers, economic and business environment of the host country)
Foreign Portfolio Investment: Meaning; Foreign Institutional Investors and their operations;
Determinants of FPI (return on investment, level of financial sector development, capital
controls, exchange risk); Impact of FPI on capital markets and the exchange rate
Unit 3: Balance of Payments & Foreign Exchange Rates

(30 Marks-22 lectures)

Balance of Payments: Meaning and Structure; Concepts of (i) Balance and Equilibrium (ii)
Balance of Trade and Balance of Payments; Disequilibrium meaning, types, causes and
impact of deficits on the exchange rate and foreign exchange reserves; Measures to correct
deficits exchange rate depreciation, exchange control, trade-related measures (brief
explanation of how the measures work)
Foreign exchange rates: Foreign exchange market - meaning, features; Types of exchange rate
systems (fixed, flexible and managed floating meaning of each); Types of foreign exchange
transactions (spot and forward transactions, arbitrage, currency swaps, futures contracts,

speculation); Factors influencing short-term exchange rates; Concept of convertibility of Rupee


on current account and capital account; Concept of PPP dollar

Unit 4: Multilateralism and Regionalism in Trade (20 Marks-15 lectures) Multilateralism and
Regionalism meaning; World Trade Organization objectives, principles, functions and
Agreements (Market access, Agreement on Agriculture, TRIPs, TRIMs, GATS, Dispute
Settlement); Regional economic cooperation - Meaning and reasons for growth; Forms of
regional integration - Preferential Trade Agreement, Free Trade Agreement, Customs Union,
Monetary Union, Economic Union
Books for Study and Reference:
Bhole L. M. & Mahakud J. (2009): Financial Institutions and Markets: Structure, Growth &
Innovations, New Delhi, Tata-McGraw Hill
Chreunilam F. (2008): International Economics New Delhi, Tata McGraw-Hill
Dutt R. and Sundaram K.P.M. (Latest Edition): Indian Economy, New Delhi, S. Chand and
Co. Kindleberger C.P. (1973): International Economics, Homewood, R.D. Irwin
Krugman P.R. and M. Obstfeld (2009): International Economics: Theory and Policy, Boston MA,
Pearson International Edition
Machiraju H.R. (2009): International Financial Markets and India, New Delhi, New Age
International
Rajwade A.V. (2008): Foreign Exchange International Finance Risk Management (Academic
Foundation)
R. B.I. Reports on Currency Finance
Salvatore, D.L. (1997): International Economics, Upper Saddle River, N.J. Prentice-Hall
Sharan V. (2012): International Financial Management, New Delhi, PHI Learning Pvt. Ltd.
Sodersten B. & G. Reed (1994): International Economics, London, Palgrave Macmillan
Subba Rao P. (2008): International Business: Text & Cases, Mumbai, Himalaya

B. COM
SEMESTER: V
Accounting Major 1
Advanced Accounting Paper I
(100 Marks- 75 Lectures)
Unit I: Valuation of Goodwill and Shares:

(18 Lectures)

a) Valuation of Goodwill: Circumstances under which goodwill is valued, factors affecting


value of goodwill, Methods of valuation of goodwill (super profit, Future Maintainable Profit and
capitalization of FMP).
b) Valuation of shares: Meaning and need for Valuation of shares, Factors affecting
valuation of shares, Methods of Valuation of Shares:
i) Net Assets Method (or Intrinsic Value Method/Liquidation value Method/Breakup
Value Method/Asset Backing Method),
ii) Yield Value/Market Value Method: Earning Yield and Dividend Yield,
iii) Fair Value Method.
Unit II: Internal Reconstruction:

(15 Lectures)

Concept, Treatment of special items, Legal aspects, accounting procedures, Journal


entries, ledger accounts, capital reduction account and Balance sheet after reconstruction (as
per revised schedule VI).
Unit III: Mergers & Acquisitions & External Reconstruction :
(22 Lectures)
Concept, Terms, Introduction to IND-AS 14, Calculation of Purchase consideration;
Accounting procedures in the books of Vendor company and Purchasing company, Treatment
of liquidation expenses, Journal entries , Ledger accounts and Balance sheet (including pooling
of interest method and purchase method but exchange of shares method based on valuation of
shares to be excluded).
(22 Lectures)
Unit IV: Redemption of debentures:

(20 Lectures)

Concept, Sources of finance, Methods of Redemption of Debentures - Sinking Fund, Insurance


Policy, Own Debentures and Convertible Debentures method (excluding ex-interest/cuminterest). Journal Entries and Ledger Accounts regarding redemption of debentures.
Specific Guidelines
Major (1) : Advanced Accounting Paper I

(SEMESTER - V)

1. Two questions each to be asked on Unit I and Unit III


2. One question each to be asked on Unit II & Unit IV.
Broad Guidelines for setting of Question Papers in all Accounting Papers accept auditing
papers.
General guidelines:
1. The question paper shall have total of 6 questions carrying 80 marks and shall be of 2 hours

duration.
2. Four questions of 20 marks each to be answered.
3. Question No. 1 to be compulsory (should be a practical question)
4. Any three questions from the remaining five questions to be answered.
5. A question may be sub-divided if necessary.
Books for Study and Reference:

1.

Name of the Book


Advanced Accountancy

Author(s)
R.L. Gupta
M.Radhaswamy
M.C. Shukla & T.S.
Grewal

Publisher
S. Chand & Co New Delhi

2.

Advanced Accounts

3.

Accountancy Vol. I & II

S.K. Paul
S.N. Maheshwari

5.

An Introduction to
Accountancy
Advanced Accountancy

6.

Basic Accounting

Goel & Aggarwal

7.
8.

Advanced Accountancy
Advanced Accounting

S.P. Jain
J.R.Batliboi

9.

Modern Accountancy

A.Mukherjee & Hanif

New Central Book Agency,


Calcutta
Vikas Publishing House Pvt Ltd,
New Delhi
Oxford
university press,New
Delhi
Himalaya Publishing
House,
New Delhi
Kalyani Publishers, Naw Delhi
The
standard
Accountancy
Publication Pvt. Ltd, Bombay
Tata McGraw- Hill publishing Co.
Ltd. New Delhi

4.

10.

Advanced Accounting Vol. I


& II
Students Guide to
Fundamentals of
Accounting

J.R. Monga & Girish


Ahuja

11.

12.

Financial Accounting, Auditing


& Taxation

Hrishikesh Chakraborty

S. Chand & Co New Delhi

Mayoor Paper back - Noida


Taxmann Allied Services Pvt.
Ltd. New Delhi

Sheth Publishers Pvt.Ltd. Mumbai


Chowdhary,Chopde
,& Manoj Pednecar

13.

Accounting & Financial


Management

Sheth Publishers Pvt.Ltd. Mumbai


Chowdhary,Chopde
, & Manoj Pednecar

B. COM.
Semester
V
ACCOUNTING MAJOR (2) : INCOME TAX, SERVICE TAX & GOA
VALUE ADDED TAX,
PAPERI
(100 Marks 75
Lectures)
Objective: To provide an insight into main provisions of the Income Tax Act, 1961
applicable to the
assessment year which shall be same as the academic year (e.g. for
academic year 2013-14 the assessment year shall be 2013-14), and to
impart some basic knowledge about the Service Tax as amended by the
current Finance Act up to June 30 of the academic year.
-----------------------------------------------------------------------------------------------------------------------

1.
2.
3.
4.
5.
6.
7.
8.
9.

UNIT-I a) DEFINITIONS:
(6 Lectures )
Assessee u/s.2(7)
Assessment u/s. 2(8)
Assessment Year u/s. 2(9)
Business u/s. 2(13)
Company u/s. 2(17)
Income u/s. 2(24)
Person u/s. 2(31)
Gross Total Income u/s. 80 (B) (5)
Previous Year u/s. 3

b) SCOPE OF TOTAL INCOME & RESIDENTIAL STATUS:


(6 Lectures )
i
Scope of Total Income u/s. 5
ii
Apportionment of Income between spouses governed by the
Portuguese Civil Code u/s. 5A. iii

Residential Status in India u/s. 6:- Sec.

6(1), 6(6)(a), 6(2), 6(6)(b), 6(3), 6(4). Practical


Problems to cover determination of residential status of Individuals only.
c) EXEMPTIONS & EXCLUSIONS U/S.10:
(10 Lectures )
1.
Agricultural Income u/s. 10(1)
2.
Receipts by a member, from a HUF u/s. 10 (2)
3.
Share of profit from partnership firm u/s. 10 (2A)
4.
Leave Travel Concession in India u/s. 10 (5).
5.
Gratuity u/s. 10 (10)
6.
Compensation received at the time of Voluntary Retirement u/s. 10
(10C).
7.
Amount received under Life Insurance Policy u/s. 10 (10D).

8.
9.
10

Payment received from Provident Fund u/s. 10 (11), (12).


Payment received from an Approved Superannuation Fund u/s. 10(13).
House Rent Allowance u/s. 10 (13A).

11

Special Allowance u/s. 10 (14): Conveyance, Daily, Uniform,


Helper, Research, Transport, Children Education, and Children
Hostel Expenditure Allowance.
12
Interest on Securities u/s. 10 (15).
13
Educational Scholarships u/s. 10 (16)
14
Income of a minor child u/s 10 (32) [including basic provisions of sec
64(1A)]
15
Dividends and Interest on Units u/s. 10 (34), (35).

UNIT-II COMPUTATION OF INCOME FROM SALARIES:


(16 Lectures )
Sections: 15, 16 & 17. Inclusive of allowances (exclusive of valuation
of Perquisites)
UNIT-III COMPUTATION OF PROFITS & GAINS OF BUSINESS OR PROFESSION:
(25
Lectures ) A
Sections: 28, 29, 30, 31, 32 (excluding
Depreciation Rates)
B
Section 36 : Restricted to Following clauses:
i.
Sec. 36 (1) (i) Insurance Premium
ii.
Sec. 36 (1) (ii) Bonus/Commission to
employees. iii.
Sec. 36 (1) (iii) Interest
on Borrowed Capital
iv.
Sec.36(1)(iv) Employers Contribution to RPF& Approved
Superannuation Fund
v.
Sec.36(1)(v) Contribution towards Approved
Gratuity Fund vi.
Sec.36 (1) (vii) Bad Debts.
C
Sec. 37 (1) General Deduction.
D
Sec. 37 (2B) Advertisement Expenses in Souvenir etc.
of a Political Party. E
Sec. 40(a), 40A(2), 40A(3).
F
Sec. 43(B) Disallowance of
unpaid liabilities. G
Sec. 44AD and
44AE.
UNIT IV SERVICE TAX
Lectures )

(12

A. NEW SERVICE TAX REGIME BASED ON NEGATIVE


LIST APPROACH :
Only brief idea about what is negative list (and not the entire list) to be
covered.
B. ADMINISTRATION OF THE ACT AND BASIC PROPOSITIONS:
i). The Administration of
the Act. ii)
Basic
Propositions:

a) Act does not extend to Jammu & Kashmir


b) Same transaction cannot be taxed more than once under
different services c) Composite Services-Abatement

C.

D.

MEGA EXEMPTION NOTIFICATION:


1. Services provided to United Nations or an International Organisation.
2. Services provided to Developer / Unit in Special
Economic Zone: (i) Developer
(ii)
SEZ
3. Value of Goods and Materials sold by service provider.
4. Threshold Exemption:
Exemption to Small Service Providers.
Persons excluded from Exemption Benefit:
i)Person using brand name / trade name of another person.
ii)Where service tax is payable by persons other than service
providers.
Exemption is linked with preceding years turnover.
New service providers (new services commenced during the
year).
REGISTRATION:

Persons who must Mandatorily obtain Registration, Turnover Limit,


Application for Registration, Online submission of Application for
Registration, Centralised Registration, Registration Certificate, Penalty
for late Registration,
E. FURNISHING OF RETURN:

F.
G.

Form of Return, Periodicity for Filing of Return, Due Date for


Filing of Return, Delay in Filing of Return(fees for late filing of
return), Filing of Revised Return, e- filing of Return,
RATE OF SERVICE TAX.
PAYMENT OF SERVICE TAX:
Monthly/Quarterly Payment of Service Tax, Due Dates for
Payment of Service Tax, e-payment of Service Tax, Penalty for
Failure to pay Service Tax. Interest for Late Payment of Service
Tax.

(Note:- Problems on computation of Income of Individuals only to be covered here


separately under the heads Salaries and Profits &Gains of Business or Profession
respectively. In case of Service Tax small problems for 5 marks each may be
covered on Calculation of Service Tax, Date of entitlement for Registration and
Payment of Service Tax, Penalty for non-payment of Service Tax)
Books for Study and Reference :
A.

For Income Tax:


Titl
e
1 Taxmanns Students
Guide to
Income
Tax

2 Systematic Approach To
Income Tax, Service Tax &
3 VAT
Student'S Handbook On
Income-Tax,
VAT & Service Tax

Author(
s)
Dr. Vinod Singhania
&
Monica
Singhania.

Publisher
Taxmann Allied
Services Pvt. Ltd

Dr. Girish Ahuja, Dr. Ravi Bharat Law House


Gupta
T. N. Manoharan

Snow White
Publications
Pvt.
Ltd

Direct Taxes - Law & Practice

5
6
7

Income Tax Law and Practice


Income Tax Law And Practice
Income Tax Law and Practice

Dr. Vinod K Singhania,


Dr
Kapil Singhania
Gaur V P, Narang D B
Bhagwati Prasad
Dinkar Pagare

8
9
10

Income Tax Law & Practice


Direct Taxes practice and
Planning
Income
Tax -Law & Practice

Dr.H.C.Mehrotra
B.B.Lal
B.B.Lal and N.Vashisht

B.

Taxmann Allied
Services
Pvt.
Ltd.
Kalyani Publications
Wishwa Prakashan
Sultan Chand & Sons,
New
Delhi
Sahitya Bhavan, Agra,
Konark Publishers
Dorling
Kindersley(India)
Pvt.
Ltd., Delhi-110017

For Service Tax:


1.Taxmanns Service Tax By S.S. Gupta , (as amended to-date)- Taxmann
Allied
Services Pvt. Ltd.
2. Service Tax-Ready Reckoner- By V.S.Datey, Taxmann Allied Services Pvt.
Ltd.

B. COM SEMESTER
V Accounting Major
3
AUDITING I
(100 Marks 75 Lectures)
Objective:
The course aims at imparting knowledge about the principles, methods, techniques of auditing and
their applications to understand the objective and concepts of auditing to gain working knowledge
of generally accepted auditing procedures and of techniques and skills.
UNIT I: INTRODUCTION:
(24 Marks-15 lectures)
Evolution of audit

Meaning and Definition

Scope of Auditing
Auditing V/s. Accountancy
Objectives of Auditing Primary & Secondary
Various classes of audit (Based on authority, time and scope )
Qualities of an Auditor
Audit Independence
Basic Principles governing an audit.

Benefits and limitations of Auditing

Auditing and Assurance Standards (Revised SA) - Overview, Standard-setting process,


role of Auditing and Assurance Standards Board in India and role of International
Auditing and Assurance Standards Board
UNIT II: AUDIT PROCESS
Audit plan Meaning and steps in audit planning

(24 Marks-15 lectures)

Audit Programme Meaning, objectives, contents, merits and limitations.


Audit evidence - Procedures for obtaining evidence, Sources of evidence, Reliability of
audit evidence, Methods of obtaining audit evidence, Physical verification,
documentation, direct confirmation, re-computation, Analytical review techniques, and
representation by management.
Audit Working Papers Purpose, contents, working files permanent and temporary
files, ownership & confidentiality of working papers.
Audit Note Book- Purpose, content and benefits
Routine checking
Audit Sampling - Judgmental and statistical sampling
Test checking

UNIT III: INTERNAL CONTROL SYSTEM


(20 Marks-13 lectures)
Meaning Nature and Objectives of internal Control System

Procedure for Evaluation of Internal Control System

Methods for evaluation of internal control system,

Internal Control Questionnaire Meaning, illustrations, merits and demerits

Flow chart meaning, illustrations , merits and de-merits

Internal Check Meaning, objectives, merits and demerits

Principles to be Considered in determining the Internal Check System

General Procedure to be followed in Internal Check System

Internal Audit Meaning and Significance


UNIT IV: VOUCHING AND VERIFICATION
(32 Marks-32 lectures)
Vouching Meaning, objectives and types of voucher.
General procedure for vouching including treatment for missing voucher

Audit of payments General considerations, wages, salaries, rent, commission, travelling


expenses, capital expenditure, petty cash payments and bank payments
Audit of receipts General considerations, receipts from debtors, rent, commission,
capital receipt, dividend and interest and bank receipts.
Audit of Purchases Vouching cash and credit purchases, Forward purchases, purchase
returns, allowance received from suppliers.
Audit of Sales Vouching of cash and credit sales, goods on consignment, Sale on
approval basis, sale under hire-purchase agreement, returnable containers, various types
of allowances given to customers and sale returns.
Audit of impersonal ledger Capital expenditure, deferred revenue expenditure, revenue
expenditure, outstanding expenses and income,
Verification-meaning, objectives, verification V/s Vouching
Valuation-meaning, objectives, Verification V/s. Valuation

Procedure for Verification & Valuation in general and for the following specific items Land & building, plant & machinery, investment, motor vehicles, debtors, cash & bank
balances, copy rights, patents, trademarks, goodwill, creditors, secured & unsecured
loans and Contingent Liabilities.

Inventories - types of inventories, verification & valuation of inventories and auditors


duties in respect to AS-2 & case laws.

Note.
1. Relevant auditing standards to be covered wherever applicable
2. Syllabus will be revised on regular basis at the beginning of the year to accommodate
changes made in auditing standards

Books for Study and Reference:


1.
2.
3.
4.
5.
6.
7.
8.

Aruna Jha, Students guide to auditing. Taxman publication New Delhi.


Gupta Kamal: Contemporary Auditing, Tata McGraw-Hill, New Delhi
Tandon B. N. Principles of Auditing: S. Chand & Co, New Delhi.
Pagare Dinkar: Principles & Practice of Auditing: Sultan Chand, New Delhi
Sharma T.R.: Auditing Principle & Problems: Sahitya Bhavan, Agra.
Sekhar & Sekhar: Auditing: Vikas Publishing House Ltd., New Delhi.
Saxena R. G. & Others: Practical Auditing: Himalaya Publishers, Mumbai.
S.D Sharma: Auditing Principles, Taxman publication New Delhi

9. Ravinder Kumar & Virender Sharma: Auditing Principles & Practice:


Prentice
Hall of India, New Delhi.

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