Paper 12

Paper 12

Paper 12 : Company Accounts & Audit (CAA)


To gain in depth knowledge of the professional standards, principles and procedures regarding preparation of financial accounting statements. To provide basic knowledge of auditing

Learning Aims

The syllabus aims to test the student’s ability to:

  • Understand the framework of financial statements various pronouncements of professional standards and their applicability
  • Prepare financial statements as may be required under applicable statutes for fair representation, understanding and reliability of stakeholders
  • Explain basic knowledge of auditing

Section A : Accounts of Joint Stock Companies 50%

  • Accounting of Shares and Debentures
  • Presentation of Financial Statements (as per Schedule III)
  • Cash Flow Statement
  • Accounts of Banking, Electricity and Insurance Companies
  • Accounting Standards (AS – 11, 12, 15, 16, 17, 18 and 19)

Section B : Auditing 50%

  • Auditing Concepts
  • Provision relating to Audit under Companies Act