B.Com In Banking & Insurance (BCBI) Sem V 2018 19 Nov 2018-19 FINANCIAL REPORTING AND ANALYSIS Question Paper - Mumbai University | munotes

Questions asked in this paper

• 3. Figures to the right indicate full marks

1. Q1 State whether the following statements are True or False. (Any 8) 8 marks
   • 1. Term loan will be loans repayable on demand
   • 2. Extent of risk retained and reinsurance shall be separately disclosed
   • 3. Both tangible and non-tangible assets are non-current
   • 4. Cash flow statement is prepared as per AS 1
   • 5. Provision for tax is non-operating Expenses
   • 6. IFRS stands for Indian Film Reporting System
   • 7. Individual ethical guidelines or personal ethics are the results of a varied set of influence or
   • 8. Objective of IFRS 1 is to provide suitable starting point for accounting
   • 9. Increase in share capital is Cash outflow
   • 10. NPA provisioning is not applicable to Banking Company
2. Q1 b. Fill in the blanks. (Any 7) 7 marks
   • 1. Provision for taxation is expenses. (operating, non-operating, other)
   • 2. The business principles set.a policy of bribery and corruption. (one tolerance, zero
   • 3. Issue of debenture is . (cash inflow, cash outflow, no effect)
   • 4. Fair Value should be estimated at date. (opening, closing , grant)
   • 5. IRDA stands for . Insurance Regulator Divided Authority, Insurance Regulatory and Development Authority, India Regulator Divided Authority)
   • 6. There are parties to an insurance contract. (3,4,5)
   • 7. is one which has been classified as NPA for a period not exceeding 12 months
   • 8. Paid up capital cannot exceed capital (Authorised Capital, Preference Capital, 1 is for users. (confusing, transparent, complex)
3. Q2 A From the following information, find out the amount of provision required to be made in the profit and loss account of Krishna Bank for the year ended 31-3-17 8 marks
   • B) From the Following data calculate rebate on Bills Discount as on 31.3.2017 7
4. Q2 From the following balances, prepare Profit and Loss Account of Akash Bank Ltd. for the year Depreciation on Bank Other Information: (a) Rebate on bills discounted Rs 22,800, (b) Bad Debts Rs 96,000 and (c) Provision for Tax Rs. 360,000
5. Q3 From the following information as on March 2017, prepare the Revenue Account of the Other information-Balance of Fund on 1“ April, Rs. 750,300
6. Q3 From the following information as on 31“ March 2017, prepare the Revenue Account of the Vishnu Insurance Co. Ltd in respect of fire and marine insurance business. [15]
7. Q4 Following are the balance sheet of M/s Kesav Ltd. as on 31.3.16 and 31.3.17 New Machinery costing Rs.120,000/- was bought on 31st March 2017 and an old Machinery costing Rs.27,000/- (accumulated depreciation Rs 18,000) was sold on 1.4.2016 for Rs.16,500 Prepare Cash flow statement as on 31.3.17 15 marks
8. Q4 The following is the Trial Balance of Visham Ltd as on 31.03.2017. You are required to prepare statement of Profit and Loss account and Balance sheet as on 31.03.2017 [15]
   • 1. The authorized Share Capital of the company is 10,000 equity share of Rs. 100 each
   • 2. Depreciation on Plant and Machinery is 15% pa
   • 3. Transfer to Reserve Rs. 10,000
9. Q5 A) Explain code of ethics for professional accountant. 8 marks
   • B) Explain IFRS in detail. 7
10. Q5 Short note (Any 3) 15 marks
    • 1. Average Clause
    • 2. Scope of IFRS-2
    • 3. Rebate on Bill Discounted
    • 4. Cash from operating activities
    • 5. Claims

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