CS Executive Company Accounts & Auditing Practices PYQ December 2020: Question Paper and Available Answers
CS Executive
Company Accounts & Auditing Practices
PYQS Series
December 2020
28 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Company Accounts & Auditing Practices PYQS (December 2020). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Explain the disclosures requirements as per Schedule III of Companies Act, 2013 with regards to "Reserves and Surplus" and "Long-term Borrowings".
- XYZ Ltd. granted 2,000 options on 1st April, 2015 at ₹50 (nominal value ₹10 each) when the market price was ₹170. The vesting period was two-and-a-half (2½) years. The maximum exer
- Discuss Accounting Standard (AS)-18-Related party transactions along with disclosures required to be made by the reporting enterprise.
- XYZ Ltd. issued 1,50,000 equity shares of ₹10 each to public. The issue was underwritten by A, B, C and D as under: A 30%, B 25%, C 25% and D 20% The issue was firm-underwritten by
- In April 2019, a company issues 12% ₹10,00,000 debentures at ₹97 but redeemable at ₹104. Redemption will be carried out by annual drawings of ₹2,50,000 (face value) commencing at t
- What are the important features of intangible assets ?
- Explain different kinds of restructuring.
- Briefly mention the compliance requirement of Accounting Standards.
- The average net-profit adjusted for valuation of goodwill of the B Ltd. amounted to ₹2,26,045. The average profit (before adjustment) was ₹2,02,000. 6% represented fair commercial
- X Ltd. was incorporated on 1st July, 2016. Shiva was appointed as managing director on 25th October, 2018. Company suffered a loss of ₹3,00,000 in accounting year 2018-19. As per P
- The various balances of X Ltd. are as follows as at 31st March, 2019: Particulars | ₹ 4,500, 12% preference shares of ₹100 each | 4,50,000 6,000 equity shares of ₹100 each fully pa
- ABC Ltd. Bank has a criterion that it will give loans to companies those have an "Economic Value Added" (EVA) greater than ZERO for the past three years, on an average. The bank is
- Ganesh Cotton Mills Ltd. forfeited 1,200 shares of ₹10 each (which were issued on 80% Pro-rata basis) for non-payment of allotment money @ ₹6 (including premium ₹3.50) and first ca
- A Limited Liability Company which has a paid-up share capital of ₹5,00,000 and a loss of ₹5,57,000 standing in its Balance Sheet went into voluntary liquidation on 31st March, 2019
- Kalyani Ltd. has issued the following securities : ₹ 7% Debentures 4,00,000 10% Preference Shares of ₹10 each, fully paid 6,00,000 1,00,000 Equity Shares of ₹10 each, fully paid 10
- What do you mean by the amalgamation? What are the different forms of amalgamation ? Give in brief.
- From the following Balance Sheets of Hani Ltd. and its subsidiary Sani Ltd., drawn up at 31st March, 2019, prepare a Consolidated Balance Sheet as at that date, having regard to th
- The Balance Sheets of A Ltd. and B Ltd. as at 31st March, 2019 are as under: Balance Sheets as at 31st March, 2019 Particulars | A Ltd. (₹) | B Ltd. (₹) I. EQUITY AND LIABILITIES (
- Write a short note on 'Audit Testing'.
- What are the points to be considered while carrying out the internal control review of working environment, safety and security ?
- What is test checking? What precautions to be taken by auditor while adopting the test checking in auditing ?
- Write a short notes on the following: (i) Professional skepticism
- Write a short notes on the following: (ii) Materiality in Auditing.
- Explain the different stages of Audit in Depth.
- What are the objectives of review of Sales and Distribution Policies and Programs of an Organisation ?
- H Ltd. intends to strengthen internal control of purchase operations. Draft a questionnaire with regard to segregation of duties related to purchases.
- You have been appointed as an auditor of XYZ Ltd. What steps you will follow in verification of Assets ? Explain.
- Differentiate between the 'Internal check system' and 'Internal audit'.
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.