B.Com. Semester Course Department of Commerce, 6 Delhi School of Economics, University of Delhi, Delhi-110007 Note: 1. In case of paper CP 4.2, (Part A and B of Income tax and Auditing respectively): exam has to be attempted on separate answer sheets and

Audit is an independent examination of financial statements. This course teaches who can be auditor, importance of audit and distinction in auditing and accounting. This lecture handout contain: Auditing, Fundamental, Advantage,Plan, Professional, Depth, Examination, Application, Financial 4 FP-FA&A (ii) Cost Accounting: Cost accounting is the process of accounting for costs.It is a systematic procedure for determining the unit cost of output produced or services rendered. The main functions of cost accounting are to ascertain the cost of a product and to help the management in the control of (b) The audit work is completed at a stretch i.e. in a single continuous session. (c) Generally this type of audit suitable to small organizations. Interim Audit: An audit conducted between two annual audits is called interim audit. More commonly it IT auditing refers to the part of an audit that involves the computerized elements of an accounting information system. It is here that the elements of auditing are present. Note in particular, the discussion of audit objectives. See Table 17-2, on page 866. E. The Structure of an IT Audit Fig. 17-2, on page 867, is a schematic of an IT audit Notes Basic Accounting Principles Business Environment 64 the results disclosed in the financial statements will be uniform and comparable. 3. Accrual: Accounting attempts to recognize non-cash events and circumstances as they occur. Accrual is concerned with expected future cash receipts and payments. It is the accounting process of recognizing B.com Honors - Auditing - Question paper notes for is made by best teachers who have written some of the best books of . It has gotten 19027 views and also has 4.6 rating. Categories