Trend Analysis
[ marks]Preliminary Expense
[ marks]Explain the following terms.
[14 marks]Accounting
[ marks]Accounting Equation
[ marks]GAAP
[ marks]Horizontal Analysis
[ marks]FIFO
[ marks]Explain the following accounting concepts with suitable examples: 1. Business Entity Concept 2. Money Measurement Concept 3. Going Concern Concept
[7 marks]Pass journal Entries. 1. The business started with ₹5,00,000 cash. 2. Purchased goods worth ₹80,000 in cash. 3. Sold goods worth ₹1,00,000 to Mr. Bon credit. 4. Paid office rent ₹10,000 in cash. 5. Purchased machinery for ₹1,50,000, paying ₹50,000 in cash and the rest on credit. 6. Received ₹1,00,000 from Mr. Bfor the goods sold earlier. 7. Goods worth ₹20,000 burned by fire (no insurance claim).
[7 marks]Define Financial Accounting, Management Accounting, and Cost Accounting. Highlight key differences among them.
[7 marks]Differentiate between Provisions and Reserves.
[7 marks]What is Expenditure? Explain Types of Expenditure in detail.
[7 marks]What is Corporate P & L A/C? Draw the proforma of Corporate P & L A/C (Vertical) with hypothetical figures.
[7 marks]What is a Corporate Balance Sheet? Draw the proforma of the Corporate Balance Sheet (Vertical) with hypothetical figures.
[7 marks]What are the mandatory components of the Director’s Report and Auditor’s Report as per the Companies Act, 2013? Explain the importance of Schedule III in the preparation of financial statements.
[7 marks]Discuss the significance of convergence of Indian Accounting Standards (Ind AS) with International Financial Reporting Standards (IFRS).
[7 marks]Explain the purpose and key components of the Management Discussion and Analysis (MD&A) section in a company’s annual report. Why is MD&Aimportant for stakeholders? Page 1 of
[2 marks]What is a Statement of Changes in Equity? Illustrate its purpose and discuss how non-controlling interest is presented in the financial statements as per the Companies Act, 2013.
[7 marks]The Balance Sheet of Gujarat Auto Limited as on 31‐12‐2002 was as follows: Particular Rs. Particular Rs. Equity Share 40000 Plant and 24000 Capital Machinery Capital Reserve 8000 Land and 40000 Buildings 8% Loan on 32000 Furniture and 16000 Mortgage Fixtures Creditors 16000 Stock 12000 Bank Overdraft 4000 Debtors 12000 Taxation Current 4000 Investment (Short 4000 Term) Taxation Future 4000 Cash in Hand 12000 Profit and Loss 12000 A/c From the above, compute 1) Current Ratio, 2) Quick Ratio, 3) Debt-equity Ratio, and 4) Proprietary Ratio. Page 2 of
[2 marks]Prepare the store’s Ledger under the LIFO.
[7 marks]The following is the record of receipts and issues of a certain materials in a factory during the first week of April. April Opening balance 100 tonnes @ Rs. 10 per tonne, 1 issued 60 tonnes 2 Received 120 tonnes @ Rs. 10.10 per tonne 3 Issued 50 tonnes 4 Received back from work order 20 tonnes (originally issued at Rs.9.90 per tonne) 5 Issued 80 tonnes 6 Received 44 tonnes @ Rs. 10.20 per tonne 7 Issued 66 tonnes
[ marks]Why is it necessary to calculate depreciation in accounting? Discuss the various factors that are considered while calculating depreciation and explain how they impact the financial statements of a company.
[ marks]Prepare the store's Ledger under the FIFO.
[7 marks]