NEW SYLLABUS OF SYBMS SEM IV – ADVANCED COSTING & AUDITING


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NEW SYLLABUS OF SYBMS SEM IV – ADVANCED COSTING & AUDITING

Learning Objectives:

1. The objective of this subject is to familiarize students with the various concepts         and element of cost.
2. The course allows intends to develop auditing skills among learners.

 

 

Unit

no. 

Name of the Topic   No. of 

Lectures

 Unit

1

Process costing and Contract Costing-:

Contract Costing-: 

learning objectives,
features,
Sub- Contracting ,
Cost plus Contract ,
Profit on Incomplete Contract ,
Work Certified and Work Uncertified ,
Typical examples.

Process Costing-:

Objectives,
Process Cost Accounting Procedure,
Basic Steps for Solution of Problems in Process Costing,
Normal Loss,
Abnormal Loss,
Abnormal Gain.
Typical examples.

 15

 Unit

2

Standard costing-:

Standard Cost ,
standard costing ,
variance analysis material ,
labour variances.

Material variance-:

Material Cost Variance,
Material Price Variance,
Material Usage Variance ,
Material Mix Variance ,
Material Yield Variance.

Labour Variance-:

Direct Wages Variance,
Direct Rate Variance,
Direct Efficiency Variance,
Direct Time Variance,
Direct Yield Variance.

15
 

 Unit

3

Audit concepts –

basic ,
Financial system,
users of Financial information,
definition of auditing ,

objectives of Auditing-

primary and secondary,
expression of opinion,
detection of frauds and errors.

Errors and frauds-

definition ,
reasons and circumstances ,
types of errors – commission ,
omission ,
principle and compensating,
Types of frauds ,
risk of frauds and error in audit .
Internet limitations of Audit,
auditors duties and responsibilities in respect to fraud.

Principle of audit-:

Documentation ,
planning ,
audit evidence accounting system and internal control,
audit conclusion and reporting .

Audit concept-:

Materiality ,
Going Concern ,
true and fair independence.

 17
Unit

4

Vouching and verification

Vouching-: Audit of income and audit of expenditure
Verification-: Audit of asset and audit of liabilities.

 

13

 

Reference Books

  1. Khanna Pandey&Ahuja : Practical Costing, Sultan Chand.
  2. K. S. Thakur: Cost Accounting, New Century Book House Pvt. Ltd. M.L. Agarwal: Cost Accounting, Sahithya Bhawan Publications.
  3. Palaniappan & Harihara : Cost Accounting I.K. International Jain &Narang: Cost Accounting, Kalyani Publishers.
  4. S.N. Maheshwari: Cost Accounting, Mahaveer Publishers.
  5. Horngren: Cost Accounting – A Managerial Emphasis, Prentice Hall. Management Control Systems, 10th Ed. – Anthony and Govindrajan
  6. Practical Auditing – B.N.Tandon

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Bhautik Kawa

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