August 2026 – Page 26 – india free notes.com

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

by indiafreenotes16/08/202622/08/20261

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

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

by indiafreenotes16/08/202622/08/20261

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

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

by indiafreenotes16/08/202619/08/20260

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

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

by indiafreenotes16/08/202619/08/20261

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

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

by indiafreenotes16/08/202618/08/20261

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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