B.COM 5TH SEM ACCOUNTING STANDARDS IMPORTANT QUESTIONS

IMPORTANT QUESTIONS FOR 5th SEMESTER EXAMINATION

Accounting Standards                                                                                   B.Com (General)

UNIT 1

1. Define Accounting standards ? Explain the scope and objectives of accounting standards.(May 19)
2. Define accounting standards ? Explain merits and demerits of accounting standards. (Dec.18)
3. Explain the list & procedure of accounting standards issued in India. (May 19 Dec.18)
4. Explain in detail about IFRS and its objectives and benefits. (May 19 Dec.18)

UNIT 2

1. Explain in detail AS-7. (May 19) 
2. Explain in detail AS-2. (Dec.18)
3. Explain in detail AS-3. (May 19 Dec.18)   

UNIT 3

1. Explain in detail AS-17. (May 19)
2. Explain in detail AS-14. (Dec.18)
3. Explain in detail AS-16. (Dec.18)

UNIT 4

1. Explain in detail AS-18. (Dec.18)
2. Explain in detail AS -22
3. Explain in detail AS-26. (May 19)

UNIT 5

1. Explain the scope and significance of IAS. (May 19 Dec.18)
2. Explain the implimentation of IAS. (May 19)
3. Explain about AS-32.
4. SHORT ANSWERS
5. Explain the procedure for issuing accounting standards. (May 19)
6. Explain the objectives and limitations of accounting standards. (Dec.18)
7. Fixed cost contract –vs- Cost plus contract.
8. What are the factors determining reportable segments.
9. Borrowing cost.
10. Intangable assets.
11. Non-Cash transactions.
12. AS-6 & 1(May 19)
13. Carve In’s and Carve Out’s. (Dec.18)
14. Purchase method
15. Consideration
16. Amortisation
17. Deffered tax and taxable income. (Dec.18)
18. Interim financial report – Contents
19. Finance lease –vs- Operating lease. (May 19)