Important Questions for May' 2016 Exam
Unit 1
Q. What is Financial Statement Analysis? What are its Significance? How
does it help the potential investors in their decision-making?
Q. What is Financial Statements? What are its nature? What are various
limitations of Analysis of Financial Statements?
Q. What are various tools and techniques used for Financial Analysis?
Explain them briefly with their respective merits and demerits.
Q. What is Accounting Practice? Write a brief note on adoption of
Indian GAAP in Preparation of Financial Statements.
Q. Write short notes on:
Ø
Value
added Statements
Ø
Economic
value added Statements
Ø
Window
Dressing
Ø
Distinction
Between Common Size Statements and Comparative Statements
Q. Practical Problems: Preparation of Comparative Financial Statements
and Common size Statements
Unit 2
Q. What is Ratio analysis? What are its characteristics? Mention its
advantages and Disadvantages.
Q. What are various classes of ratios? Explain the purpose of calculating
the following Ratios:
a. Current Ratio b. Liquid Ratio c.
Gross Profit Ratio d.
Net Profit Ratio
e. Operating Profit Ratio f. Debtor’s Turnover ratio and
Debtor’s Collection Period
g. Creditor’s Turnover ratio and Average
Payment Period h. Stock
Turnover Ratio
g. Debt-Equity Ratio h. Proprietory Ratio i.
Return On Investment Ratio
j. Return on Shareholder’s Fund k. Earnings per Share
Q. Practical Problems: Two types of questions are expected
1. Preparation of P/L account and balance
sheet from given ratios
2. Calculation of various types ratio from the
given financial information
Unit 3
Q. What do you mean by the term Financial Reporting? What are its
objectives? Explain its Importance and limitations.
Q. “Corporate social responsibility is now mandatory for corporate”.
Considering this statement, define social benefits and social costs. Also
explain their measurement in disclosure of social accounting?
Q. What are the
objectives of corporate governance Disclosure Practices? Describe the
guidelines on corporate governance reporting as per Clause 49 of listing
agreement.
Q. “Financial
Reporting should be a part of Annual Report of the Companies and it is the best
way to provide information to its shareholders”. Considering this statements
write a brief note on financial statements and its types.
Q. Write a brief note
on recent developments in the field of corporate social responsibility.
Q. Write short notes
on:
Ø
Qualitative
characteristics of financial reporting to make it useful to the users
Ø
Financial
reporting vs. Financial Statements
Ø
Interim
Reporting vs. Final Reporting
Ø
Segment
Reporting vs. Final Reporting
Unit 4
Q. What is Accounting
Standards? What are its aim and importance? Or “Accounting standards aim to
protect users of financial reports in providing reliable and comparable
accountants and auditors.” Explain
Q. What do you mean
by global convergence of accounting standards? What are the benefits of a
single set of Global accounting standard? State the steps adopted by an entity
in adoption of IFRS.
Q. Distinguish
between Indian Accounting Standard and International Accounting Standard.
Q. “Convergence of Indian accounting standard with IFRS is necessary”.
Do you think it necessary? Justify your answer together with the role of ICAI
in convergence of accounting standard with IFRS.
Q. Write short notes
on:
Ø
International
Accounting Standards
Ø
International
Financial Reporting Standards
Ø
Consideration
in selection of Accounting policies
Unit 5
Q. Distinguish between Harmonization and Standardisation of Corporate
Reporting. Discuss the recommendation of RBI group on accounting and auditing
on Harmonisation and Standardisation of accounting standards.
Q. Write a brief note
on IFRS – 4 and IFRS – 9.
Q. Give a brief note
on IRDA’s Guidelines on accounting and auditing of Insurance Companies.
Q. Give a brief note
on suggestions made by the RBI’s Advisory group on accounting and auditing of
Banks.
Q. Give a brief note
on suggestions made by the RBI’s Advisory group on accounting and auditing of
NBFC and FIs.