WBCHSE Class 11 Syllabus for Commercial Law and Preliminaries Of Auditing

SYLLABUS COMMERCIAL LAW AND PRELIMINARIES OF AUDITING (CLPA) CLASS-XI Full Marks 100 Commercial Law (40 Marks) 1. Introduction (5 marks ) a) Definition of Law, b) Meaning of Commercial Law, c) Sources of Indian Commercial Law 2. Law of Contract (20 marks ) a) Definition and meaning of agreement and contract - Essential elements of a contract. b) Offer and acceptance - Definition and meaning of offer, offerer, offeree, promise, promisor, promisee; Rules regarding offer - Definition and meaning of acceptance; Rules regarding acceptance - Methods of communication of offer and acceptance - Revocation of an offer and acceptance. c) Consideration - Definition and meaning of consideration - Types of consideration - Rules regarding consideration - "No consideration No Contract"; Exceptions to the Rule. d) Capacity of parties - Definition and meaning of capacity of parties - Definition and meaning of minority, The Law regarding Minor's Agreement - Definition and meaning of persons of unsound mind, effects of agreements made by persons of unsound mind - meaning of disqualified persons. e) Free consent - Definition and meaning of free consent - coercion, undue Influence, Misrepresentation, Fraud, Mistake; meaning, Rules regarding these. 3. The law relating to Sale of Goods (15 marks ) a) Definition of Buyer, Seller; Meaning and definition of Goods, classification of Goods - Existing, Future, Contingent - Sale and Agreement to sell, difference between these two - The essential dements of a contract for the sale of goods - conditions and warranties, Implied condition and Implied Warranties - The Doctrine of Caveat Emptor 171

SYLLABUS b) Transfer of ownership - when does property pass from the seller to the Buyer - Transfer of title by Non-owner. Preliminaries of Auditing (40 Marks) Unit-1 : Introduction to Auditing : (10 marks ) Definition of Auditing - Evolution of Auditing - Nature of Auditing - objectives of Auditing: Primary and Secondary - Importance of Auditing - Advantages of Auditing - Limitations - Relation and Differences between Accounting and Auditing - An Auditor is not an Accountant - Auditor: Professional and General Qualifications. Unit-2 : Errors and Frauds and Auditor: (5 marks ) Errors in Accounting - Detection of Errors by Auditor - Frauds : Misappropriation and Manipulation - Detection of Frauds by Auditor - Duties of Auditor in relation to Errors and Frauds. Unit-3 : Different Types of Audit : (15 marks ) On the basis of Law : Statutory Audit - Non-statutory Audit - Government Audit. - On the basis of Time : Continuous Audit - Periodical Audit - Interim Audit. - On the basis of scope of work : Complete Audit - Partial Audit. - Interval Audit - Advantages and Limitations of Each Type of Audit - Distinction between : Continuous Audit and Periodical Audit, Statutory Audit and Non-statutory Audit - Interval Audit and Interim Audit. Unit-4 : Internal Control System : (10 marks ) Definition, Features, Advantages and Limitations of Internal Control System - Internal Checking System : Definition - Objectives - Advantages - Limitations - Distinctions between Internal Control System and Internal Checking System - Relevance of Interal Control System in Auditing. PROJECT : (20 marks ) 1) Imagine yourself a buyer. Write a report of the steps you should follow in case of breach of contract of Sale of Goods. 2) Visit a big Shopping Mall and prepare a report on its internal control/internal checking system. 172