B.Com. (Accountancy) Vocational Skills in Accounting V Syllabus - Mumbai University
This is the SY BCom Accountancy syllabus under NEP 2020, in force from the academic year 2025-26. The University clubbed this degree with B.Com., B.Com. (Business Economics) and B.Com. (Business Management) on 25 May 2026 and now awards it as B.Com. (Commerce and Management), with Accountancy as the Major: the papers below are the ones its own Board of Studies sets, so your exam form may name the degree differently from your admission letter. The four Major papers of Semesters III and IV are the four credit versions the University issued on 22 June 2026, which carry twice the modules of the two credit papers set for these semesters before them.
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Syllabus for Vocational Skills in Accounting - V
Module I: Introduction to Auditing
- Basics – Financial Statements, Users of Information, Definition of Auditing, Objectives of Auditing, Inherent limitations of Audit, Difference between Accounting and Auditing, Investigation and Auditing.
- Errors & Frauds – Definitions, Reasons and Circumstances, Types of Error, Types of frauds, Risk of fraud and Error in Audit, Auditors Duties and Responsibilities in case of fraud.
- Principles of Audit, Materiality, True and Fair view
- Types of Audit – Meaning, Advantages, Disadvantages of Balance sheet Audit, Interim Audit, Continuous Audit, Concurrent Audit and Annual Audit, Statutory Audit and Social Audit.
Module II: Audit Planning, Procedures and Documentation
- Audit Planning – Meaning, Objectives, Factors to be considered, Sources of obtaining information, Discussion with Client, Overall Audit Approach
- Audit Program – Meaning, Factors, Advantages and Disadvantages, Overcoming Disadvantages, Methods of Work, Instruction before commencing Work, Overall Audit Approach.
- Audit Working Papers – Meaning, importance, Factors determining Form and Contents, Main Functions / Importance, Features, Contents of Permanent Audit File, Temporary Audit File, Ownership, Custody, Access of Other Parties to Audit Working Papers, Auditors Lien on Working Papers, Auditors Lien on Client’s Books. Note: Carry Hands-on training by using pedagogy of peer-peer learning, simulations for conduct of audit and visits to an audit firm.
Reference Books
- Arens, A. A., Elder, R. J., Beasley, M. S., & Hogan, C. E. (2017). Auditing and assurance services (16th ed.). Pearson.
- Messier, W. F., Glover, S. M., & Prawitt, D. F. (2017). Auditing & assurance services: A systematic approach (10th ed.). McGraw-Hill Education.
- Whittington, R., & Pany, K. (2016). Principles of auditing & other assurance services (20th ed.). McGraw-Hill Education.
- Gay, G., & Simnett, R. (2018). Auditing & assurance services (7th ed.). McGraw-Hill Education.
- Institute of Chartered Accountants of India (ICAI). (Current Year). Standards on auditing. ICAI.
- Louwers, T. J., Ramsay, R. J., Sinason, D. H., Strawser, J. R., & Thibodeau, J. C Auditing & assurance services (7th ed.). McGraw-Hill Education.
- Porter, B., Simon, J., & Hatherly, D.. Principles of external auditing (4th ed.). Wiley.
Reproduced from the University of Mumbai syllabus for B.Com. (Accountancy) under NEP 2020, in force from the academic year 2025-26. Wording is as printed in that syllabus. Module numbering is as printed there too.
The complete syllabus
This subject is cut from the University circular for its year. Open a document here if you want the whole thing rather than a single subject.