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    CMA Intermediate Syllabus 2016 (Paper 12): Company Accounts and Audit

    PAPER 12: COMPANY ACCOUNTS AND AUDIT
    Contents
    Weightage
    Section A :Accounts of Joint Stock Companies
    1. Accounting of Shares and Debentures
    2. Presentation of Financial Statements (as Per Schedule III)
    3. Cash Flow Statement
    25%
    4. Accounts of Banking, Electricity and Insurance Companies
    5. Accounting Standards (AS-11, 12, 15, 16, 17, 18 and 19)
    25%
    Section B :Auditing
    6. Auditing Concepts
    20%
    7. Provision relating to Audit under Companies Act
    30%
    Section A: Accounts of Joint Stock Companies
    1. Accounting of Shares and Debentures:
    a) Issue of shares, rights issue, bonus issue, sweat equity shares, forfeiture of share, buy-back of shares
    b) Issue and redemption of preference shares, debentures
    c) Under writing of shares and debentures
    2. Presentation of Financial Statements (as per Schedule III):
    a) Statement of Profit and Loss
    b) Balance Sheet
    3. Cash Flow Statement (AS 3)
    4. Accounts of Banking, Electricity and Insurance Companies:
    a) Accounts of Banking Company
    b) Accounts of an Electricity Company
    c) Accounts of Insurance Company
    5. Accounting Standards (AS - 11, 12, 15, 16, 17, 18 and 19)
    Section B: Auditing
    6. Auditing Concepts
    a) Nature, Scope and Significance of Auditing
    b) Audit Engagement, Audit Program, Audit Working Papers, Audit Note Book, Audit Evidence and Audit Report
    c) Internal Check, Internal Control, Internal Audit - Industry Specific.
    7. Provision relating to Audit under Companies Act
    a) Auditor’s qualifications, disqualifications, appointment, remuneration, removal, powers and duties.
    b) Cost Audit, Secretarial Audit
    c) Reporting Requirements under Companies Act, Report vs. Certificate, contents of the reports and qualifications in the report.
    d) Miscellaneous Audit
    i. Branch Audit, Joint Audit
    ii. Audit of shares and debentures
    iii. Audit of divisible profits and dividends
    iv. Statutory Auditors Vs Internal Auditors
    v. Auditing and Assurance Standards relating to audit of inventories and audit of fixed assets
    vi. Auditing of different types of undertaking – Education, Hospitals, Cooperative Societies, Banks, Trusts, Municipalities, Panchayats

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