CS Executive Company Accounts & Auditing Practices PYQ December 2015: Question Paper and Available Answers
CS Executive
Company Accounts & Auditing Practices
PYQS Series
December 2015
27 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Company Accounts & Auditing Practices PYQS (December 2015). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- A listed company intends to issue sweat equity shares to its directors and a class of employees. Advise the company about the conditions to be fulfilled for such an issue.
- What are the objectives of sound corporate financial reporting?
- Zenith Ltd. has inadequacy or absence of profits in the financial year 2014-15 but it wants to declare dividend. What are the conditions to be fulfilled to declare dividend out of
- Fitness Ltd. is planning to raise funds by making rights issue of equity shares to part finance its expansion. The existing equity share capital of the company is ₹40 lakh and the
- A company has its share capital divided into shares of ₹10 each. On 1st April, 2014, it granted 5,000 shares as employees stock options at ₹40 per share, when the market price was
- Base Ltd. is not satisfied with its economic value added and wants to improve it further. What corrective action should it take to improve the same?
- State three salient features of 'pooling of interest' method of amalgamation.
- When dividend is declared and paid by a subsidiary company out of pre-acquisition and post-acquisition profits, how will the same be dealt with in the books of a holding company?
- When are diluted earnings per share (EPS) calculated? From the following information, calculate diluted earnings per share (EPS) of the company: Net profit for the current year (af
- Explain the method of valuation of equity shares based on price-earnings ratio.
- Explain with examples 'interest accrued and due' and 'interest accrued but not due'. How are these items shown in the balance sheet?
- Cheer Ltd. is interested in issuing 10,000, 12% debentures of ₹100 each. You are required to pass necessary journal entries in each of the following situations: (a) Issued at 10% d
- Excel Ltd. issued 1,00,000 equity shares and the entire issue was underwritten as follows: Underwriter - X: 50% Underwriter - Y: 30% Underwriter - Z: 20% Applications were received
- The extracts of balance sheets of H Ltd. and S Ltd. as on 31st March, 2015 are given below: I. EQUITY AND LIABILITIES (1) Shareholders' funds (a) Share capital Equity shares of ₹10
- Nice Ltd. proposed to acquire the business of Kajal & Co. It was agreed to value goodwill at 3 years purchase of the weighted average profits of the past 4 years. Profits and weigh
- Liquidation of Weak Ltd. commenced on 2nd April, 2015. However, certain creditors failed to receive their dues out of realisation of assets and contribution from 'A' list contribut
- The balance sheet of Magna Ltd. as on 31st March, 2015 is given below: I. EQUITY AND LIABILITIES (1) Shareholders' funds (a) Share capital Equity shares of ₹100 each: ₹50,00,000 12
- Following is the statement of profit and loss of Target Ltd. for the year ended 31st March, 2015: ₹ I. Revenue from operations 40,25,360 II. Other income Subsidy received from gove
- What do you mean by 'efficiency audit'? How does it help the management of an enterprise?
- Distinguish between 'internal control' and 'internal audit'.
- An auditor appointed under Rule 3 of the Companies (Audit and Auditors) Rules, 2014 is required to submit a certificate and notice to the Registrar of Companies. State the matters
- What is the difference between 'inter-firm comparison' and 'intra-firm comparison'? Explain the usefulness of ratio analysis in inter-firm comparison.
- Draft an internal control questionnaire for review of goods receiving procedures and controls.
- Audit documentation is pivotal to auditing process. In this context, mention any ten documents and records which should be kept in permanent audit file.
- Following data is extracted from the books of Right Ltd., an unlisted company for the accounting year 2014-15: Equity share capital: ₹40 crore (80% of equity shares are held by the
- Distinguish between 'vouching' and 'verification'.
- In the course of audit of Growth Ltd. you want to review the internal control in the area of sales return. Mention the aspects which are to be specifically looked into to ascertain
How to Prepare for CS Executive Company Accounts & Auditing Practices
Use past questions to practise the paper format and review available answers. Check the current syllabus, applicable law and examination duration before attempting a timed paper.