Month: August 2026

Bangalore North University B.Com Notes

IND AS – 1 Bangalore North University BCOM SEP 2024-25 5th Semester Notes

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Unit 1
Accounting Standards: Introduction VIEW
Meaning, Definition, Objectives, Process of Formulation of Accounting Standards in India, List of Indian Accounting Standards (IND AS) VIEW
International Financial Reporting Standards: Introduction and Features VIEW
Benefits of Convergence with IFRS VIEW
Applicability of IND AS in India VIEW
Challenges in implementation of IND AS VIEW
Unit 2
Framework for Preparation of Financial Statements VIEW
Presentation of Financial Statement as Per IND AS 1: VIEW
Statement of Profit and Loss (SoPL) VIEW
Balance Sheet (SoFP) VIEW
Statement of Changes in Equity (SoCE) VIEW
Statement of Cash Flow and Notes to Accounts VIEW
Problems on Preparation of Statement of Profit and Loss as per Division II of Schedule III of Companies Act, 2013 VIEW
Problems on Preparation of Statement Balance Sheet as per Division II of Schedule III of Companies Act, 2013 VIEW
Unit 3
Indian Accounting Standards (IND AS 101) VIEW
First Time Adoption of Indian Accounting Standards (IND AS 101) VIEW
Interim Financial Reporting (IND AS 34) VIEW
Inventories (IND AS 2), Problems VIEW
Unit 4
Property, Plant and Equipment (IND AS 16) VIEW
Intangible assets (IND AS 38) VIEW
Impairment of assets (IND AS 36) VIEW
Borrowing Costs (IND AS 23) VIEW
Investment Property (IND AS 40) VIEW
Unit 5
Segment Reporting (IND AS 108) VIEW
Related Party Disclosure (IND AS 24) VIEW
Events after the Balance Sheet Date (IND AS10) VIEW
Bangalore North University B.Com Notes

Auditing Bangalore North University BCOM SEP 2024-25 5th Semester Notes

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Unit 1
Auditing, Meaning, Definition, Nature, Importance and Limitations, Relationship of Auditing with other Disciplines VIEW
Basic Principles governing an Audit VIEW
Ethical Principal VIEW
Concept of Auditor’s Independence VIEW
Standards on Auditing and Guidance Notes: Overview VIEW
Standard-setting Process VIEW
List of Standards on Auditing issued by the ICAI VIEW
List of Guidance Note(s) VIEW
Unit 2
Concept of Materiality, Materiality in Planning and Performing an Audit, Auditor’s Responsibility to apply the Concept of Materiality VIEW
Internal Control: Evaluation of Internal Control System, Testing of Internal Control VIEW
Internal Control and IT Environment VIEW
Digital Audit: Key Features of an Automated Environment, Impact of IT related Risks, Impact on Controls, Internal Financial Controls as per Regulatory requirements, Types of Controls VIEW
Audit approach VIEW
Understanding and Documenting Automated environment VIEW
Unit 3
Auditing engagement VIEW
Audit Planning (SA 300 Planning an Audit of Financial Statements) VIEW
Audit Programme VIEW
Control of Quality of Audit Work VIEW
Delegation and Supervision of Audit Work VIEW
Audit Documentation (SA 230 Audit Documentation) VIEW
Audit Working Papers VIEW
Audit Files: Permanent and Current Audit Files, Ownership and Custody of Working Papers, VIEW
Obtaining Audit Certificate VIEW
Audit evidence (SA 500 Audit Evidence): Audit procedures for Obtaining Evidence, Sources of evidence Reliability of Audit Evidence, Methods of Obtaining Audit evidence, Physical Verification VIEW
Audit Trail, Direct Confirmation, Re-computation, Analytical review Techniques, Representation by Management VIEW
Audit Sampling (SA 530 Audit Sampling): Meaning of Audit Sampling, Designing an audit Sample, Types of Sampling (Approaches to Sampling), Sample Size and Selection of items for Testing, Sample Selection Methods VIEW
Unit 4  
Vouching: Meaning and Objectives, Procedure of Vouching VIEW
Audit of Payments, Audit of Receipts, Audit of Purchases, Audit of Sales VIEW
Audit of Supplier’s Ledgers VIEW
Audit of Debtor’s Ledger VIEW
Verification: Meaning and Objectives, Impersonal Ledger, Audit of Assets and Liabilities VIEW
Valuation: Meaning and Objectives VIEW
Inventory Valuation VIEW
Unit 5  
Company Audit, Audit of Shares VIEW
Qualifications and Disqualifications of Auditors VIEW
Appointment of Auditors, Removal of Auditors, Powers and Duties of Auditors VIEW
Branch audit, Joint audit, Special audit VIEW
Reporting Requirements under the Companies Act, 2013 VIEW
Audit Report: Qualifications, Disclaimers, Adverse Opinion, Disclosures, Reports and Certificates VIEW
Bangalore North University B.Com Notes

Costing Methods and Techniques Bangalore North University BCOM SEP 2024-25 5th Semester Notes

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Unit 1
Contract Costing, Meaning, Features and Applications VIEW
Preparation of Contract Accounts VIEW
Treatment of Profit on Incomplete Contracts VIEW
Unit 2
Process Costing, Meaning, Features, Advantages, Disadvantages and Applications VIEW
Treatment of Process Losses and Gains in Cost Accounts VIEW
Preparation of Process Accounts (including Abnormal Gains and Losses) VIEW
Joint Products VIEW
By-Products VIEW
Unit 3
Service Costing: Meaning, Features, Application VIEW
Cost Units for Different Service Sectors VIEW
Preparation of Operation Cost Sheet, Transport Sector (Computation of Per Passenger Kilometer and Per Ton Kilometer) VIEW
Contract Costing, Process Costing and Service Costing: A Comparison VIEW
Unit 4
Marginal Cost VIEW
Marginal Costing: Meaning, Definition and Features VIEW
Concepts:
P/V Ratio VIEW
BEP VIEW
Margin of Safety VIEW
Angle of Incidence VIEW
Break-Even Analysis: Assumptions, Uses and Break-Even Chart VIEW
CVP Analysis VIEW
Unit 5  
Strategic Cost Management Techniques VIEW
Target Costing VIEW
Activity-Based Costing VIEW
Life Cycle Costing VIEW
Throughput Accounting VIEW
Kaizen Costing VIEW
Technological Integration:  
AI and Automation (Predictive Cost Analytics) VIEW
Automated Expense Management VIEW
Robotic Process Automation (RPA) VIEW
Real-time Cost Monitoring Value VIEW
Operational Shifts: Remote Work Expenses, Agile Accounting VIEW
Bangalore North University B.Com Notes

Income Tax – I Bangalore North University BCOM SEP 2024-25 5th Semester Notes

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Unit 1
Tax: Introduction, Meaning, Definition, Objectives VIEW
Income-Tax Act, 2025: Scope and Framework VIEW
Basic Principles for Charging Income Tax [Sec. 4] VIEW
Assessment, Types of Assessment, Procedure for Assessment VIEW
Finance Bill and Finance Act VIEW
Definitions, Tax Year [Sec. 3] VIEW
Assessee [Sec. 2(11)] VIEW
Person [Sec. 2(77)], VIEW
Income [Sec. 2(49)] VIEW
Heads of Income [Sec. 13] VIEW
Gross Total Income (GTI) [Sec. 122], Total Income [Sec. 2(108)] VIEW
Tax Administration Authorities VIEW
Unit 2
Residential Status: Introduction and Need VIEW
Determination of Residential Status of Individuals u/s [Sec. 6(2)] to [Sec. 6(8)] VIEW
Incidence of Tax for Individual Assessee [Sec. 5] VIEW
Unit 3
Capital Receipts and Revenue Receipts VIEW
Rate of Tax Under Old Tax Regime VIEW
Rate of Tax Under Default Tax Regime (New Regime) u/s 202 VIEW
Income Not be included in the Total Income [Sec. 11] VIEW
DTAA VIEW
Unit 4
Salary: Introduction, Basic Elements VIEW
Employer-employee relationship VIEW
Basis of Charge [Sec. 15] VIEW
Definition of Salary [Sec. 16] VIEW
Deduction from Salary [Sec. 19] VIEW
Allowances VIEW
Perquisites [Sec. 17] VIEW
Retirement Benefits: Gratuity, Leave Salary and Pension VIEW
Computation of Taxable Salary VIEW
Unit 5
Income from House Property: Introduction, Basic Concepts VIEW
Chargeability [Sec. 20] VIEW
Determination of Annual Value [Sec. 21] – Computation of Income: Let-out Property, Self-occupied Property, Deemed to be Let-out Property, Property not Actually occupied by the owner, Partly Let-out and Partly Self-occupied Property VIEW
Recovery of Arrears of Rent and Unrealized Rent VIEW
Deductions u/s 22: Standard Deduction and Interest on Borrowed Capital VIEW
Treatment of Pre and Post Construction Interest VIEW
Computation of Income from House Property VIEW
Bangalore North University B.Com Notes

Goods and Services Tax Bangalore North University BCOM SEP 2024-25 5th Semester Notes

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Unit 1 [Book]
Tax: Meaning, Definition and Objectives VIEW
Direct Tax v/s Indirect Tax VIEW
Basic Features of Indirect Taxes VIEW
Principal Indirect Taxes in India VIEW
Source Based Vs Destination Based Taxation Structure and its Features VIEW
GST, Need for GST in India VIEW
Historical background of GST in India VIEW
Framework of GST (Dual Model) VIEW
Taxes Subsumed under GST VIEW
Benefits of Implementing GST VIEW
Significant Amendments Made in Constitution (101st Amendment) Act, 2016 VIEW
GST Council: Constitution, Power and Functions VIEW
Unit 2 [Book]
Definitions: GST, Goods, Services, Person, Consideration, Aggregate Turnover, Fixed Establishment, Casual Taxable Person Schedule I, II, and III to the GST Act VIEW
Supply: Taxable Event, Types of Supply, Supply with Consideration in Course/ Furtherance of Business VIEW
Supply without Consideration VIEW
Continuous Supply VIEW
Composite Supply VIEW
Mixed Supply VIEW
Exempt Supply: Education Sector, Government Organization, Agriculture Sector, Interest Income, Rental Income, Transportation, Health Sector VIEW
Taxability of Interstate Supply and Intra State Supply VIEW
Unit 3
Concept of Aggregate Turnover and its Computation (Problems) VIEW
GST Registration based on Turnover VIEW
Composition Levy Scheme VIEW
Casual Registration, Levy and Collection of CGST/SGST/IGST VIEW
Concept of Reverse Charge Mechanism (RCM) VIEW
Concept of Branch Transfers VIEW
Tax Invoice and Essential Elements in Invoice VIEW
Concept of GST on items Containing Alcohol, Petroleum Products and Tobacco Products VIEW
Unit 4
Time of Supply for Goods and Services (Point of Tax) for both Forward and Reverse Charge when Consideration is Received in Money and when Consideration Other than Money VIEW
Residuary Cases VIEW
Value of Supply to Unrelated Persons when Price is the Sole Consideration of the Supply VIEW
Computation of Value of Supply of Goods and Services (Inclusions and Exclusions) VIEW
Concept of Discount and its Treatment VIEW
Unit 5 [Book]
Input: Input Goods, Input Services, Input Capital Goods VIEW
Concept of elimination of Tax Cascading Effect through Value Added Tax System VIEW
Input Tax Credit, Eligibility and conditions for taking ITC VIEW
Cross Utilization of ITC between Goods and Services VIEW
Blocked Credits Sec 17(5) VIEW
Electronic Credit Ledger, Electronic Cash Ledger VIEW
Setting-off of ITC and Payment of Tax VIEW
Computation of GST, Full-fledged Problems VIEW
GST Returns VIEW
Returns for Outward supply (GSTR-1) VIEW
Returns for Inward Supply (GSTR-2A and 2B) VIEW
Final Monthly Returns (GSTR-3B) VIEW
Due Dates, Late Fees and Interest VIEW
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