AKTU Co-Operative Accounting & Audit (BMBCM05) Syllabus PDF – MBA 4th Semester

Course Objectives

1. To understand the concept of general and Co-operative audit.
2. To classify the verification and valuation of various assets and liabilities.
3. To know the role, duties and responsibilities of Co-operative auditors.
4. To enable for auditing system in different types of Co-operatives.
5. To understand concept of errors and frauds.

UNIT I (8 Hrs)

Accounting of PACS: Accounting records to be maintained by PACS; Basic accounting principles and policies; Steps for preparation of financial statements; Accounting entries for credit activities;

Accounting entries for non-credit activities; Accounting entries for common activities; Preparation of final accounts; Understanding the financial statements of PACS; Computerization of PACS;

Accounting under CBS environment.

UNIT II (8 Hrs)

Accounting of ZSBs: Accounting rules and procedures for the Zila Sahakari Bank Ltd; Head Office Accounting; Rules and procedures for the Zila Sahakari Bank Ltd; DCCB Branches; Reconciliation procedures; Accounting of LDBs; Accounting rules and procedures for the Uttar Pradesh Bhumi Vikas Bank Ltd; Head Office Accounting; Rules and procedures for the Uttar Pradesh Bhumi Vikas Bank Ltd; Branches; and reconciliation procedures in LDBs.

UNIT III (8 Hrs)

Cooperative Audit: Definition; Objectives; Scope and Advantages of Audit; Internal Check Vs Internal Audit; Audit, Inspection and Supervision; Audit of Co-operative Societies Vs Joint Stock Companies; Administrative set up for Co-operative Audit; Appointment of Auditor; Rights, duties and responsibilities of a Cooperative Auditor; Types of Audit; Mechanical and Administrative Audit;

Preparations for Audit and Framing of Audit Programme.

UNIT IV (8 Hrs)

Audit Certificate and Classification: Commencement of Audit Programme; Routine Checking;

Vouching of Cash Transaction; Meaning of Verification; Mode of Valuation of various Assets and Liabilities; Depreciation; Reserve: Meaning, and Definition; Various Reserves; Audit of Final Accounts; Profit and Loss Account; Balance Sheet; Reconciliation of Bank Accounts; Audit Report;

Audit Certificate; Audit Classification; Assessment and Levy of Audit Fees.

UNIT V (8 Hrs)

Audit Programme for Selected Societies: Various stages of Audit; Audit procedures for Cooperative Credit Institutions; Marketing Societies; Consumer Stores; Housing Societies; Milk Producers Societies; Industrial Cooperatives; Classification on the Reserve Bank of India Standard;

Preparation of Final Audit Memorandum and its Enclosures.

Course Outcomes

After successful completion of this course students will be able to,

Suggested Readings

1. Manual on Common Accounting System (CAS) for Primary Agricultural Credit Societies (PACS), NABARD.
2. R.G. Saxena. Principles and Practice of Auditing, Himalaya Publishing House, New Delhi, 2011.
3. D.R. Kapoor, Hand Book of Co-operative Audit, Anmol Publications Pvt Ltd. 1998.
4. B.N. Tandon, S. Sudhhrsanan, S. Sundhora Babu, A Hand Book of Practical Auditing, S. Chand and Company Ltd, 2006.
5. B.N. Tandon, A Hand Book of Practical Auditing, S. Chand and Company Ltd, 2007.