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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.
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Certificate of completion.
|Section 1: Introduction|
Purpose of Auditing
Evolution of Auditing
Meaning of Auditing
Features of Auditing
Objectives of Auditing
Principal aspects of Auditing
|Section 2: Pros and Cons of Auditing|
Benefits of Auditing
Limitations of Auditing
|Section 3: Vouching|
General Consideration in Audit of Cash Transactions
|Section 4: Audit of Capital Expenditure|
Capital Expenditure and Revenue Expenditure
What is DepreciationPreview
Purpose of Providing Depreciation
Depreciation on Wasting Assets
Methods of Providing Depreciation
Factors to be considered in Selecting Depreciation Policy
|Section 5: Auditors Independence|
Concept of Auditors Independence Part 1
Concept of Auditors Independence Part 2
Persons disqualified for Appointment as Auditor of Company as per Companies Act
Independence vis-à-vis Indebtedness of Auditor
Introduction to Audit Evidence
Introduction to Sufficiency and Appropriateness of Audit Evidence
Sufficiency of Audit Evidence
Appropriateness of Audit Evidence
Sources of Audit Evidence
Audit Procedures to obtain Audit Evidence
Risk Assessment and Nature and Timing of Audit Procedures
Audit Procedures to obtain Audit Evidence Detailed Explanation
Tests of Controls
Timing of Tests of Control
Using Audit Evidence obtained in Previous Audits
Evaluating the operating effectiveness of controls
Bonus Lecture - Discount Coupon Links for other Courses
I am a 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.