Corporate Accounting and Auditing (MCOP 403-18)

MCOP 403-18

Corporate Accounting and Auditing

Course Objective: To familiarize students with knowledge of regulatory framework for

Preparing accounts as well as auditing in a company.

Unit – I

Company Final Accounts:  Requirements of Companies Act 2013, Form and contents

Of Profit and loss account and Balance sheet Managerial remuneration: Meaning of profit. Divisible profits.

Unit – II

Understanding the concept and rationale of Financial Audit, Cost Audit, Management

Audit, Internal Audit, Proprietary Audit, Efficiency Audit and Audit by C. and A.G.

Valuation of Goodwill:  Different approaches such as super profit, annuity and capitalization approach.

Valuation of Shares: Different approaches such as book value, earnings approach, etc.

Unit – III

Statutory Auditor: Appointment, qualifications, removal. Duties and liabilities of

Auditor, Code of conduct and ethics, professional misconduct of statutory auditor.

Cost Audit: Meaning, objectives and scope of cost audit. Cost Auditor, his appointment,

Duties, liabilities. Cost audit report.

Unit – IV

Management Audit:  Meaning, objectives and scope of management audit. Appointment

And qualifications of management Auditor.

Audit of management functions such as planning, organizing and control. Audit of functional areas-production, personnel marketing finance and accounting.