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)
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