CS Executive Company Accounts & Auditing Practices PYQ June 2016: Question Paper and Available Answers
CS Executive
Company Accounts & Auditing Practices
PYQS Series
June 2016
29 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Company Accounts & Auditing Practices PYQS (June 2016). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- State how would you present 'cash and cash equivalents' under the current assets in the balance sheet as per Schedule III of the Companies Act, 2013.
- Explain amortisation period in relation to intangible assets. When this period needs to be reviewed and changed?
- Board of directors of Mahua Ltd. wants to attach Directors' report to the balance sheet to be presented at the annual general meeting and seeks your help in preparing the same. Enu
- Moon Ltd. issued 5,000 debentures of ₹100 each at a discount of 10%. The expenses on issue amounted to ₹20,000. The company wants to redeem the debentures at the rate of ₹1,00,000
- Following is the extract of balance sheet of Sunrise Ltd. as on 31st March, 2015: Issued and subscribed capital: 40,000, 10% Preference shares of ₹10 each fully paid - ₹4,00,000 1,
- A company purchased 200, 12% debentures of ₹100 each at ₹97 on cum interest basis on 1st July, 2015 for immediate cancellation. Interest is payable on 30th September and 31st March
- State the functions of National Financial Reporting Authority to provide for matters relating to accounting and auditing standards.
- What are the provisions regarding creation and adequacy of debenture redemption reserve (DRR) in each of the following cases: (i) All India public financial institutions regulated
- What are the provisions regarding creation and adequacy of debenture redemption reserve (DRR) in each of the following cases: (ii) Non-banking financial institutions registered wit
- What are the provisions regarding creation and adequacy of debenture redemption reserve (DRR) in each of the following cases: (iii) Other companies including manufacturing and infr
- State the purposes for which balance in securities premium account can be utilised.
- State how would you present short-term loans and advances under current assets in the balance sheet of a company as per Schedule III of the Companies Act, 2013?
- Vibgyor Ltd. is unaware of the manner and details of presentation of long-term loans and advances to be given in the balance sheet as per Schedule III of the Companies Act, 2013. A
- Following balances appeared in the books of Bahubali Ltd. as on 1st April, 2014: 14% Debentures - ₹15,00,000 Balance of sinking fund - ₹12,00,000 Sinking fund investment - ₹12,00,0
- Extract of ledger balances of Kalpana Ltd. as on 31st March, 2015 includes the following: Particulars ₹ 2,000, 12% Preference shares of ₹100 each, fully paid 2,00,000 Surplus 40,00
- Following are the details of various outstanding liabilities of Inefficient Ltd. which went into liquidation on 1st April, 2015: Government taxes payable: 2013-14: ₹22,000; 2014-15
- Balance sheet of Zupiter Ltd. as on 31st March, 2015 is as under: I. EQUITY AND LIABILITIES (1) Shareholders' funds Equity share capital: ₹10,00,000 (2) Non-current liabilities Lon
- Prepare the consolidated balance sheet from the following balance sheets of Happy Ltd. and Joy Ltd. as on 31st March, 2015: Balance Sheets as on 31st March, 2015 Particulars Happy
- Alpha Ltd. decided to wind-up with effect from 31st March, 2015 and was to be taken over by Gama Ltd. on the basis of following balance sheet of Alpha Ltd. as on that date: Balance
- Mention the areas in which all the joint auditors are jointly and severally responsible.
- What is the process of issuing audit standards by Auditing and Assurance Standards Board (AASB)?
- Differentiate between 'internal audit' and 'statutory audit'.
- Despite numerous benefits, internal audit has got some limitations. Discuss.
- Distinguish between 'internal control system' and 'internal check system.'
- What are the objectives of review of management information system (MIS) of an organisation ?
- Explain the objectives of investigation and also list out business situations where investigation may be considered necessary.
- Explain the provisions of section 139(1) of the Companies Act, 2013 regarding appointment of auditors.
- What are the important points to be considered while reviewing the 'process of taking insurance during transit' ?
- From the following information, calculate the value of shares of ₹10: Year Capital employed (₹) Profit (₹) Dividend Weight 2011 10,00,000 80,000 12% 1 2012 16,00,000 1,60,000 14% 2
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.