Unit-1
Short Questions:
1.Define Accounting and state any two objectives of accounting.
2.What are Accounting Concepts? Give any two examples.
3.What is GAAP? Mention any two implications of GAAP on the accounting system.
4.What is Double Entry System? Write its basic rule.
5.What is meant by Accounting Cycle? List any two stages of the accounting cycle.
Long Questions:
1.Explain the Importance and Objectives of Accounting.
2.Explain in detail the Accounting Concepts and Conventions(Principles of Accounting)
3.What are Generally Accepted Accounting Principles (GAAP)& explain its implications.
4.Explain the Double Entry System of Accounting.
5.Discuss various types of Accounts- (Golden rules of accounting)
Unit-2
Short Questions:
1.What are Books of Original Record? Give two examples.
2.Define Trial Balance. State any two objectives of preparing a Trial Balance
3.Differentiate between Capital Expenditure and Revenue Expenditure (any two points)
4.What is meant by Rectification of Errors?
5.What is Single Entry System? Mention any two disadvantages.
Long Questions:
1.Explain the preparation process of Final Accounts (Format also) with Adjustments
2.Explain types of errors and the procedure for rectifying errors with suitable examples.
3.Describe how profit is ascertained under Single Entry System and the preparation of necessary accounts.
4.Define single entry system, explain their features, advantages, and disadvantages
5.Explain the differences between single entry and double entry system
Numeric:
1.Journal Entries
2.Ledger posting
3.Trial Balance
4.Final Accounts
5.Rectification of errors
Unit-3
Short questions:
1.What is Valuation of Assets?
2.Differentiate between Tangible Assets and Intangible Assets (any two points).
3.List any two methods of Inventory Valuation.
4.What is Goodwill? Mention any two methods of valuation of goodwill.
5.What is Depreciation? State any two objectives of charging depreciation.
6.Differentiate between FIFO & LIFO.
Long questions:
1.Discuss FIFO, LIFO, Weighted Average Method, and their impact on profit measurement and financial statements.
2.Discuss different bases of asset valuation and distinguish between tangible and intangible assets with examples.
3.Explain the advantages & disadvantages of Straight line & written down value method.
4.Explain Goodwill and its Methods of Valuation.
5.Discuss the Impact of Different Depreciation Methods on Business Accounting.
Numeric:
1.Depreciation methods(Straight line and written down value methods)
2.Inventory valuation methods(FIFO,LIFO, Simple Avg. & weighted Avg.)
3.Goodwill valuation methods(Average profit, super profit and capitalization methods)
Unit-4
Short questions:
1.What is meant by Working Capital?
2.Define Funds from Operations.
3.Differentiate between Cash Profit and Book Profit (any two points).
4.What is Horizontal Analysis?
5.What is meant by Paid Costs and Unpaid Costs?
6.Horizontal Analysis Vs.Vertical Analysis
7.Comparative Vs. Common size statement(Income as well Balance sheet)
Long questions:
1.Describe its format and significance in Funds Flow Analysis.
2.Explain how it is calculated and its importance in preparing a Funds Flow Statement.
3.Discuss operating, investing, and financing activities as per accounting standards(Including formats)
4. Differentiate between cash flow and funds flow statements.
Numeric:
1.Comparative Income statement & Balance sheet
2.Common size Income statement & Balance sheet
3.Cash flow statement
4.Funds flow statement
Unit-5
Short questions
1.What is meant by Analysis and Interpretation of Financial Statements?
2.Define Liquidity Ratio. Give one example.
3.What is Du Pont Analysis?
4.What are Ind AS?
5.What is IFRS?
6.List out various types of ratios
7.What is Debt-Equity ratio
8.How to calculate Cost of goods sold(COGS)?
Long questions
1.What is Ratio analysis, explain its advantages & Limitations
2.Discuss various types of ratios/classification of financial ratios
3.Explain the significance of ratios using examples
4.Explain the importance of Indian Accounting Standards (Ind AS) and their convergence with International Financial Reporting Standards (IFRS).
Numeric:
1.Liquidity ratios
2.Solvency ratios
3.Turnover/Activity ratios
4.Profitability ratios
All the best
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