Accounts Costing2

SIDDHARTH EDUCATION SERVICES LTD For CS, CA, ICWA [Foundation, Inter, Final] BMS, M.Com 301,Prestige Chamers, !"". #hane $ail%a& Stn. P.F.',#hane(W)*'+33-03 , aiha/ So., 1 st Floor, !"". Munii"al arden, 2omi/li () #el *'3++ '415,Po"atlal Bldg,!"".Ban6 o7 Maharashtra,$anade $d.2adar(W) #el* #el* 8++00'3  8++00'3  ______________  _____________________ ______________ _______________ _______________ ______________ ______________ ______________ ______________ _______________ _______________ ______________ ______________ ______________ _______________ _____________ _____

Time Time : 3 hrs. hrs.

Accoun Accounts ts – CS Inter Inter

Ms Ms : !""

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CS $A$ER % Section A &uestion ! is com'u(sor). Ans*er +n) % ,rom the rest &. ! -A /i(( in the 0(+ns: -!" m+rs 1. Accounting as a ‘language of business’ communicates the financial results of corporate

enterprise to various________ by means of financial statements. 2. The bonus share can be issued only if ______ of the company permits such an issue. 3. Accounting standard 17 i.e. segment reporting is mandatory for all commercial industrial and business reporting corporate enterprises !hose turnover for the accounting period e"ceeds #s._______ $. %onsolidated financial statements are presented by a __________ company to provide financial information information about the economic activities of its group. &. 'reliminary e"pense is a ___________ asset. (. )f the purchase price of the debenture includes the interest for the e"pired period. )t is *no!n as ________. debe ntures to vendors is *no!n as issue of debentures___________ debentures______________. ___. 7. )ssue of debentures standards are formulated formulated under the authority of the ____________. ____________. +. Accounting standards ,. -ield basis valuation of shares may ta*e the form of valuation based on rate of return and  __________.  __________. 1. %ollateral %ollateral security implies _________ _________ security given for a loan. &. !-1 /tate !ith reasons in brief !hether follo!ing statements are correct or incorrect 02 mar*

each 1. )n )ndia )ndia corpor corporat ate e financ financial ial stat statemen ements ts are are prepa prepare red d recogn recognisi ising ng legal legal forms forms of the

transaction transaction and ignoring the substance. 2. %ontin %ontingen gentt liabil liabiliti ities es relat relating ing to outsid outsider erss must must be sho!n sho!n on the liabil liability ity side side of the consolidated consolidated balance sheet. 3. 'artly paid up preference shares can be redeemed. $. ividend can be paid on calls in advance. &. Accounting policies vary from enterprise to enterprise. &. % -A !rite short note on redemption of debentures by sin*ing fund method. 01 mar*s &. % -1 !rite short note on issue of shares other than cash. 0& mar*s &. 3 -A rite short note Accounting standard , 0& mar*s &. 3 -1 rite short note on accounting standard 21 0& mar*s 1

&. 3 -C 4o! !ill you deal !ith internally generated intangible assets in the boo*s of the account5

0& mar*s &. 2-A 4o! and !hy is the net profit re6uired to be re!or*ed for the purpose of determining

managerial remuneration5 )llustrate your ans!er 01 mar*s &. 2 -1 rite short note on limits of managerial remuneration in various cases. 0& mar*s Section 1 &uestion  is com'u(sor). Ans*er +n) % ,rom the rest. &. -A /i(( in the 0(+ns -! m+r e+ch 1. %ost is a fact !here price is a ____________. 2. )mputed costs are relevant for ___________. 3.  _________ in a contract provides that the contract price !ould be suitably enhanced on $. &. (. 7. +.

the happening of a specified contingency. irect material  direct labour  factory overheads 8 __________. 9rea* even chart is the graphical relationship bet!een ___________.  ________ is the allotment of proportion of items of cost to cost centre: cost units.  ___________e"penses are e"cluded from cost. The process of apportionment of factory overheads among production and service

department is called ________ of factory overheads. ,. The time for !hich the employer pays remuneration to !or*ers but obtains no direct benefit is called _______. 1. A system that *eeps a running and continuous record that trac*s inventories and cost of goods sold on day to day basis is called __________. &. -1 /tate !ith reasons in brief !hether the follo!ing statements are true or false. 02 mar*s

each 1. ;nder flu" method labour turnover is calculated by number of !or*ers left divided by

average number of !or*ers. 2. A profit centre !hose performance is measured by its return on investment is *no!n as investment centre. 3. )n cost plus contracts the contractor runs a ris* of incurring a loss. $. All long term costs are controllable. &. . Estimate sales in order to up profit #s. +$. Estimate sales so as to earn 2&> on sales. Estimate sales so as to earn 3> of employed !or*ing capital is 2&> of sales and 2> of

capital employed. & Estimate 9E' for year 211. &. ; -A rite short note on Accounting /tandard 7 0& mar*s &. ; -1 rite short note on Accounting /tandard 3 0& mar*s &. ; -C rite short note on 9rea* even point and =argin of safety 0& mar*s

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