05/05/2015
(AS Focused)Analysis of Final CA – Financial Reporting Paper – May’15 Exam
Overview
Total Question Paper(including options) :- 116 marks i.e. 1 question of 20 marks & 6 questions of 16 marks each
No. of Compulsory Questions – 1
For – 20 marks
Topic of Compulsory Question – Accounting Standards(AS)
No. of Optional Questions – 6(student had to attempt any 5)
For – 16 marks each
Topic of Optional Questions – Amalgamation, Consolidation, NBFC, AS, Goodwill Valuation, Brand Valuation, Value Added Statement
Questions on AS :- 52 marks(out of 116 marks paper)
Compulsory Questions on AS :- 28 marks
Optional Questions on AS :- 24 marks
AS questions were based on :-
Q1a. AS 2(Point no. 12 of JKSC Textbook)
Q1b. AS 28(Basic concept of AS 28 i.e. IL = CA – RA)
Q1c. AS 9(4th & 5th point of JKSC Textbook)
Q1d. AS 25(Similar to Q. 140 of AS 25 in JKSC Textbook)
Q4b. AS 30(IRR Technique i.e. Recognition @ Amortised Cost i.e. PV, similar to Q. 182 of JKSC Textbook)
Q6b. Differences between IFRS & AS pertaining to Property, Plant & Equipment(differences table given after sums of AS 30 in JKSC Textbook)
Q7a. AS 10, 11 & 16(similar to sums done in corresponding AS in the JKSC Textbook)
Q7b. AS 2, Guidance Note & IDT(basic concept of Excise Duty payable on manufacturing activity & inclusion in the carrying amount of inventory incase Cenvat Credit is not proposed to be availed)
Q7c. AS 9(4th point of JKSC Textbook i.e. uncertainty arising @ a later stage… requiring provision rather than alteration of originally recognized revenue)
Q7d. AS 1 & AS 5(1st point of AS 1 of JKSC Textbook i.e. Accounting Policy = Accounting Principle + Method)
Q7e. AS 29(5th point of AS 29 & Q. 16 of JKSC Textbook)
