Accounting and Auditing: In layman’s term, we can call accounting as book-keeping whereas auditing is inspecting how accurately the records have been maintained. Accounting not only helps in keeping track of the transactions but it also helps to analyze the profits & losses. Thus, it gives insight into the performance of an organization. Therefore, carefully auditing such accounts is very important. Let’s learn about these two procedures in greater detail.
- Theoretical Framework of Accounting
- Recording Transactions
- Capital and Revenue Items
- Bank Reconciliation Statement
- Depreciation Accounting
- Preparation of Final Accounts of Sole Proprietor
- Partnership Accounts
- Joint Venture and Consignment Account
- Introduction to Company Accounts
- Accounting for NPO
- Computerized Accounting Environment
- Concept of Auditing
- Types of Audit
- Audit and Auditors under Companies Act
- Tools of Auditing