Company Accounts And Auditing Practices-II

Holding and Subsidiary Companies - Accounting Treatment, Disclosures and Consolidation of Accounts

Valuation of Shares, Methods of Valuation, Price Earning Multiple Valuation,
Discounted Cash Flow (DCF) Method
• Valuation of Intangibles: Brand, Goodwill and IPRs
Liquidation of Company
• Preparation of Statement of Affairs including Deficiency /Surplus Account

• Various Requirements of Corporate Reporting
• Value Added Statements: Economic Value Added (EVA), Market Value Added ,
Shareholders’ Value Added
Accounting Standards
• Relevance and Significance
• National and International Accounting Standards and Authorities
• Adoption, Convergence and Interpretation of International Financial Reporting
Standards (IFRS) and Accounting Standards in India

Forms of Audit - Propriety Audit, Compliance Audit and Efficiency Audit
• Nature, Scope and Techniques of Internal Audit; Functions and Responsibilities
of Internal Auditors; Organisational Status of Internal Auditing Function, Internal
Audit vis-à-vis Statutory Audit
Internal control
• Nature, Scope And Elements
• Internal Control distinguished from Internal Check and Internal Audit
• Techniques of Internal Control System, Flow Charts, Internal Control Questionnaires
Steps for Internal Control and Audit Evaluation
• Audit Testing – Need For Sampling and Various Approaches to Statistical Sampling
• Inter-Firm and Intra-Firm Comparisons – Ratio And Trend Analysis; Audit In Depth

• Review of Purchasing Operations
• Review of Efficacy of Management Information System
• Review of Selling and Distribution Policies and Programmes
• Review of Manufacturing Operations
• Review of Personnel Policies
• Appraisal of Management Decisions
Audit Engagement and Documentation
• Audit Procedures: Audit Plan , Audit Programme, Vouching and Verification
• Documentation: Audit Working Papers and Files
• Sampling, Test Checking, Techniques of Test Checks