Accounting and Auditing deals with the Basics of preparation of accounts for Companies, Sole proprietor, partnership firms and Non-Profit Organizations. Auditing refers to the independent examination of Books of Accounts of Corporate entities considering the Auditing Standards provided by ICAI and the processes to be followed by an Auditor.Every CS needs to have technical knowledge about Accounts. You need to know about investment decisions, dividend decisions, valuation, securities, risk analysis & management, etc. so that you build logical reasoning and strategic thinking skills so that you can apply this in the practical environment.
The topics covered in Company Accounts and Auditing Practices at CS Executive Level is,
Company Accounts for transactions related to Share Capital
Company Accounts for transactions related to Debentures
Final Accounts of Companies
Corporate restructuring
Consolidation of Accounts
Liquidation of Company
Accounting Standards
Auditing
Types of Audit
Internal Control
Audit Engagement and Documentation
The best approach to study Company Accounts and Auditing Practices paper is,
Solve (Write and Practice) as many problems as you can and at the same time do not ignore THEORY
Make your own notes for theory even before you start your study leave to overcome time constraints
Be very clear in concepts so that it enables you to courageously face any kind of questions
Write all Formulae in a pocket note book which helps you to have quick recap of entire syllabus at one place
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