B.Com In Banking & Insurance (BCBI) Sem V October 2025 October 2025 Financial Reporting & Analysis Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Working Notes should form part of your answer
2. Q3 Figures to the right indicate full marks
3. Q1 A) Select the most appropriate alternatives from those given below and rewrite the
4. Q1 Which of the following is included in the statutory reserves of a Banking Company?
5. Q2 Non-performing assets (NPA) are classified into which categories?
   • c) Current, Doubtful, Unrealised d) None of these
6. Q3 Which schedule is mandatory for Insurance Company Final Accounts under IRDA
   • c) Schedule VIII d) None of these
7. Q4 What do Corporate Final Accounts of Insurance Companies primarily include?
   • a) Trading and Profit & Loss Account
   • b) Revenue Account, Profit & Loss Account, and Balance Sheet
   • c) Manufacturing Account and Balance Sheet
8. Q5 Which of the following is treated as an adjustment item in Company Final Accounts?
   • a) Provision for Tax b) Closing Stock
   • c) Proposed Dividend d) All of the above
9. Q6 Discount on issue of shares is classified as:
10. Q7 As per AS-3, which method is recommended for Cash Flow Analysis?
    • c) Hybrid Method d) None of these
11. Q8 Whistle-blowing in ethics refers to:
    • a) Concealing fraud for company benefit b) Reporting unethical/illegal practices
12. Q9 IFRS deals with:
    • a) First-time adoption of IFRS b) Presentation of Financial Statements
    • c) Revenue Recognition d) Accounting for Leases
13. Q10 Under IFRS, related party transactions are disclosed in accordance with:
14. Q1 B) State weather True or False (Any 7) 7 marks
15. Q1 Bills discounted and rediscounted are part of Banking Company accounts
16. Q2 Performing assets are those which have stopped generating income
17. Q3 Insurance companies must prepare accounts as per Companies Act only, ignoring IRDA
18. Q4 Listed insurance companies are required to follow accounting policies from annual reports
19. Q5 Provision for tax is not considered while preparing Final Accounts of Companies
20. Q6 Capital expenditure included in revenue expenditure must be adjusted in final accounts
21. Q7 AS-3 recommends both direct and indirect methods equally for Cash Flow Analysis
22. Q8 Ethical behaviour of accountants has implications for corporate governance
23. Q9 IFRS | relates to the transition to IFRS for the first time
24. Q10 Related party disclosures are irrelevant under IFRS
25. Q2 A. On 31* March 2025, the following balance stood in the books of ACC Bank Itd. Money at call & short notice Savings bank account Profit & loss account (credit 1-4- Investment (at cost) Acceptance on behalf of Bills payable The net profit is after charging provision for bad debts Rs. 4,20,000, provision for taxation Rs. 14,00,000 & rebate on bills discounted Rs. 70,000. Bill for collection Rs.1960 Construct a Balance Sheet of the bank on March 2025 15 marks
26. Q2 B From the following balances, prepare profit and loss account of Akash Bank Ltd. for the year ended March,2025: (15) Interest on current account Rent and Taxes 43,200 Interest on saving bank Postage and Telegram Depreciation on bank
    • a) Rebate on bills discounted Rs. 22,800
27. Q3 A Prepare a Revenue Account in respect of Fire Insurance Business from the following details of Silver General Insurance Company Ltd. For the year ended 31 Reserve for unexpired risk on April,2024 @30% 64,000 Estimated Liability for claims admitted Premiums on Reinsurance accepted 12,800 Premiums on Reinsurance ceded 16,800 Commission on Direct Business 18,000 Commission on Reinsurance accepted 800 Commission of Reinsurance ceded 1,200 Expenses of Management 16,000 Interest Divided and Rent 9,600 Profit sale of Investment 1,600 Create a Reserve for unexpired Risk @ 30% of Net Premium. Create an additional Reserve equivalent to the opening balance (15)
28. Q3 B From the following information as on 31 March,2025. Prepare the revenue account of the Laxmi Insurance Co. Ltd. In respect of fire and marine insurance. (15) Reserve for Unexpired risk (opening balance) 2,30,000 | 3,50,000
29. Q4 A) From the following relating to the Accounts of Shraddha Ltd., prepare Cash Flow Statement as per AS-3. 15
    • (1) Depreciation @ 25% was charged on the opening value of Plant and Machinery
    • (2) During the year one old machine costing Rs. 50,000 (WDV Rs. 20,000) was sold for
    • (3) Rs. 50,000 was paid towards Income tax during the year
    • (4) The building under construction was not subject to any depreciation
30. Q4 B) The following Balances are extracted from the books of Success Ltd. as on 31st Share CapitalofRs.10each Profit and Loss Account balance on 1-4-2023
    • (a) Income tax to be provided at 35% of the profits
    • (b) The directors propose a dividend of 20%
    • (c) Stock of Materials and work in progress on 31st March 2024 were Rs. 350 lakhs and Rs You are requested to prepare profit and loss statement of the company as per Revised
31. Q5 A) What is the importance of ethical behaviour in accounting and financial reporting?
    • B) Explain the need and importance of International Financial Reporting Standards 7
32. Q5 C. Short Notes (Any 3 out of 5) 15 marks
33. Q1 Rebate on Bills Discounted
34. Q2 Claims and Commission in Insurance Accounts
35. Q3 Objectives of adopting IFRS in India
36. Q4 Classification of cash flow
37. Q5 Managerial Remuneration and its disclosure in Company Final Accounts

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