Auditing Basics (Professional Course Level)

Learn the fundamentals of auditing to excel in accounting and auditing career
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  • Lectures 18
  • Contents Video: 1 hour
    Other: 8 mins
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
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About This Course

Published 2/2015 English

Course Description

Are you an Accounting or Finance Professional?

Are you an Accounting or Finance Student planning a career in either of the fields?

Are you a Professional Course Student planning career as Auditor?

Then this course is for you.

Welcome to Auditing Basics.

The basic purpose of Auditing is to confirm the authenticity of Books of Accounts prepared by an accountant.

So, the auditing begins, where the function of an accountant ends.

Auditing is done to determine the true and fair picture of accounts.

Auditing is done by examining the books of accounts with supporting documents in order to detect and prevent fraud and error.

Auditing provides lots of benefits like

a) Verification of Books of Accounts

b) Independent Opinion

c) Moral Check

d) Protection of the Rights and Interests of Share holders

e) Reliance by Outsiders

f) Ensures compliance with level requirements

g) Strengthens Internal Control

Hence, by taking this course, you will learn

i) Evolution of Auditing

ii) Meaning of Auditing

iii) Features of Auditing

iv) Objectives of Auditing

v) Principal aspects of Auditing

vi) Benefits of Auditing

vii) Limitations of Auditing

viii) Statutory Audit

ix) Internal Audit

x) Secretarial Audit

xi) Cost Audit

xii) Tax Audit

xiii) Bank Audit

xiv) Insurance Audit

xv) Management Audit

xvi) Tools of Audit

This course is structured in Self paced learning style.

You may find accounting terminologies used in this course. Hence, you should have Basic knowledge of Accounting.

Advanced auditing tools and concepts will be launched as separate courses in the due course.

What are the requirements?

  • Basics of Accounting
  • Basics of Financial Statements

What am I going to get from this course?

  • Understand Meaning of Audit
  • Understand Principal aspects of Audit
  • Understand Benefits of Auditing

What is the target audience?

  • Accounting / Finance Professionals
  • Accounting / Finance Students
  • CA / CMA / CS / CFA / CPA / CIMA Students

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

Section 1: Introduction
Introduction
Preview
02:01
Purpose of Auditing
02:54
Evolution of Auditing
03:44
Meaning of Auditing
03:12
Features of Auditing
03:10
Objectives of Auditing
03:54
Principal aspects of Auditing
05:49
Section 2: Pros and Cons of Auditing
Benefits of Auditing
04:24
Limitations of Auditing
02:39
Section 3: Vouching
Vouching
Preview
05:55
General Consideration in Audit of Cash Transactions
06:42
Section 4: Audit of Capital Expenditure
Capital Expenditure and Revenue Expenditure
07:00
What is Depreciation
Preview
03:54
Purpose of Providing Depreciation
08:36
Depreciation on Wasting Assets
02:25
Methods of Providing Depreciation
02:34
Factors to be considered in Selecting Depreciation Policy
04:26
Bonus Lecture - Discount Coupon Links for other Courses
8 pages

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Instructor Biography

I am a practicing Chartered Accountant with tonnes of passion for teaching.

I teach Financial Management & Strategic Financial Management for Chartered Accountancy, Cost and Management Accountancy and Company Secretary students in Ernakulam, India. I also hold Post Graduate Diploma in Business Administration in Finance from Symbiosis, Pune and Bachelors in Commerce, from Loyola College, Chennai.

I worked in State Bank of India as Assistant Vice President - Credit for a period of four years after which i started my Chartered Accountancy Practice. During the stint in State Bank of India, I worked on credit proposals of Mid Corporate Units and gained good experience in Financial Analysis, Risk Assessment, Viability Study, Evaluating business models, Project Finance, Working Capital Management, etc.

I conduct work shops for Entrepreneurs, Chartered Accountancy / Cost and Management Accountancy Students on the topics like Project Finance, Credit Risk Assessment, Entrepreneurship Development, Finance for Non Finance Executives, etc.

I love teaching and i want fundamentals of accounting and finance to reach students and so i am here.

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