T.Y.B. Com. Semester –V 352 ADVANCED ACCOUNTING – I Questions Bank
Unit 1: Accounting Standards & Financial Reporting
Short Answer Questions
1. What are the objectives of the Accounting Standards Board?
2. What do you mean by composite leverage?
3. Briefl y mention the objectives of IASB.
4. Write a short note on the scope of the IFRS.
5. State the disadvantages of IFRS.
Long Answer Questions
1. Discuss in detail the procedure for issuing an accounting standard.
2. Examine the meaning, objective and assumption of the IFRS.
3. Analyse the main ways in which fair value can be determined.
Unit 2: Accounting for Capital Restructuring (Internal Reconstruction)
Short Answer Questions
1. What are the strategies followed by companies to achieve internal
reorganizing?
2. What does the term ‘alteration proper’ include?
3. Under what conditions can a company reduce its share capital?
Long Answer Questions
1. Discuss the accounting entries which are passed in alteration of share
capital.
2. Examine the accounting entries to be passed in case of reduction of share
capital.
Unit 3: Final Accounts of Banking Companies
Short Answer Questions
1. Write a short note on capital adequacy ratio.
2. What are the elements of Tier I Capital for Indian banks?
3. What are readjusted assets?
4. Write a short note on contingent liabilities.
5. How can interest earned by a banking company on doubtful debts be
treated?
Long Answer Questions
1. Explain the important provisionsregarding the final accounts of a banking
company.
2. Discuss the guidelines of the Reserve Bank of India to banks regarding
payment of dividend.
Unit 4: lnvestmcnt Accounting
Short Answer Questions
1. How is valuation of securities done?
2. What do you mean by market value?
3. Write a short note on carrying amount of investments.
Long Answer Questions
1. Explain the terms cum-interest and ex-interest.
2. Discuss the points that should be kep
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