B.Com In Banking & Insurance (BCBI) Sem V March 2025 March 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) State whether the following statements are True or False (Any Eight) 8 marks
4. Q1 The Banking Regulation Act, of 1949, does not require statutory reserves for banking
5. Q2 Non-performing assets generate income for banks
6. Q3 Insurance companies do not need to follow any specific format for their financial
7. Q4 AS 3 requires companies to use the direct method for cash flow analysis
8. Q5 Ethical behaviour is irrelevant when preparing financial reports
9. Q6 The increasing role of whistle-blowing helps in reducing unethical practices in
10. Q7 The retrospective application of other IFRS is not allowed when adopting IFRS for the first time
11. Q8 IFRS 2 deals with share-based payments, including cash-settled and equity-settled
12. Q9 Insurance companies are required to account for unearned premiums and outstanding claims in their final accounts
13. Q10 Corporate governance and corporate social responsibility are unrelated to ethical behaviour in financial reporting
14. Q1 B) Match the column (Any Seven) 7 marks
15. Q2 Statutory Liquidity Ratio (SLR b) Legal provisions for banking companies
16. Q3 Whistle-Blowing c) 50 % of net premium
17. Q5 Banking Regulation Act, 1949 e) Preparation of cash flow statements
18. Q6 Reserve for unexpired risk of fire 25% of net profit
19. Q8 NPA provision for Doubtful Assets (More
20. Q9 AS 3 i) Transition to IFRS for the first time
21. Q2 a) From the following information calculate the amount of provision required to be made in the Profit & Loss Account of Laxmi Commercial Bank Ltd for the year ended 31/3/2024
22. Q2 B) Calculate the Rebate on Bill Discounted as on 31/3/2023 from the following
23. Q2 C) The following is the Trial Balance of Sun Bank Ltd . Construct Balance Sheet as Cash in Hand 1,20,000 | Share Capital of Rs 100 5,00,000 in Satisfaction of Claims Provision for Depreciation
24. Q1 Guarantees are given on behalf of constituents of Rs 25,000
25. Q2 Liability for partly paid investments Rs 20,000
26. Q3 A) The following information of Royale Fire Insurance Company Ltd is provided to you for the year ending 31/3/2024 Prepare Revenue account for Royale Fire Insurance Co Ltd (15)
27. Q3 B) Krishna General Insurance Co submits the following information for the year ended 31/3/2024 Prepare Revenue account for Krishna General Insurance Co (15) Expenses of Management Rs 1,15,000 includes surveyors’ fees of Rs 21,000 and Rs 34,500 toward legal expenses related to claims. The opening Balance in Reserve for Unexpired Risk amounts to Rs 12,25,000. Reserve for unexpired risk is to be maintained @ 40%
28. Q4 A) Following are summarised balance sheets of BDM Ltd. as on 31st December, 2022 Profit and Loss A/c 50,000 60,000
    • (a) Depreciation charged during 2014 was %4,000 on Furniture, on Machinery, and on Buildings
    • (b) Part of the Machinery was sold for at a loss of
    • (c) During 2014, interim dividend was paid and Income Tax was paid
    • (d) During the year, part of the building was sold at book value You are required to prepare Cash Flow Statement as per AS-3 (15)
29. Q4 B) The following Balances are extracted from the books of Success Ltd. as on 31st Purchase of Materials 6090; Purchase of Land Work in Progress on 1-4-2023 Stock of Materials on-1-4-2023 Profit and Loss Account balance on Interest on Loan and OD
30. Q1 Income tax to be provided at 35% of the profits
31. Q2 The directors propose a dividend of 20%
32. Q3 Stock of Materials and Work in Progress on 31st March 2024 were Rs. 350 lakhs and You are requested to prepare a profit and loss statement of the company as per Revised
33. Q5 A) Discuss code of ethics towards different stake-holders. 8 marks
    • B) What is the objective and scope of Ind AS- 102? 7
34. Q5 C) Write short notes on: (Any 3) 15 marks
35. Q1 Rebate on Bills Discounted
36. Q2 Reinsurance
37. Q3 Contingent Liability

Read from the scan above, so a character or two may differ. The scan is the original.