Principles of Accounting

1.Company Formation

  • What do you mean by company?Write briefly any two features of it.

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  • Mention any three characteristics (features) of the company.

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  • Write the meaning of Registration company with suitable example.

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  • Write the meaning of Memorandum of Association.

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  • Mention any Four important contents of Memorandum of Association.

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  • State any two differences between public limited company and private limited company.

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  • Define public limited company.

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  • Mention Any three advantages of public limited company.

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  • Write in brief about an articles of Association.

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  • Write any three features of private company.

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  • Write in brief the meaning of prospectus.

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  • Write any three privileges of private company as provided by the company Act.

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  • what do you mean by prospectus?

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  • Mention any 4 contents to be stated in prospectus.

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  • Show three distinct features between Private company and Public Ltd. company.

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  • Write the Meaning of private limited company.

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2. Share And Share Capital of a Company

  • Define preference share.

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  • When and how shares of a company are forfeited?

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  • Define share capital.

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  • Write the differentiate between issued capital and subscribed capital.

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  • Define preference shares and given any two differences between preference shares and equity shares.

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  • What do you understand by share  Capital.

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  • What is meant by pro-rata allotment  of shares?

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  • State any three important differences between preference share and equity share.

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  • Write the meaning of calls in arrears and calls in advance.

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3.Accounting for Debentures

  • What do you understand by debenture? State any two features of debenture.

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  • Write any three difference between share and debenture.
  • Write in brief the meaning of convertible debentures.

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  • Write the meaning of debenture.

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4.Final Account of a Company

  • Write two advantage of trial balance.

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  • Define balance sheet and write any two importance of it.

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  • Write the short notes on:

(a)Fixed asset

(b)Current assets

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  • Write the meaning of current assets with suitable example.
  • Write what you know about current assets and current liabilities.

5.Financial Statement Analysis

  • Write any three objectives of financial statement.
  • Write any three features of financial statement.
  • State the importance of financial statement.
  • Define the term financial statement.
  • Define financial statement.State its two importance.
  • List out any three objectives of financial statement analysis.
  • Define financial statement and give any two limitations of it.
  • Give any three limitations of financial statement.
  • Given any three reasons why management takes interest to analyse the financial statement.
  • Write the meaning financial statement analysis.
  • Write any three limitations of financial statements.
  • Mention any six parties who are interested in financial Statement analysis.
  • Write any three importance of financial statements analysis in brief.

6.Ratio Analysis

  • What do you mean by the term ratio analysis?
  • Write about gross profit margin and net profit margin.
  • Give any two objectives of ratio analysis.
  • Write any two limitations of ratio analysis.
  • Write in brief the meaning of current liabilities and long term liabilities.
  • State the meaning of average collection period.
  • Write the meaning of gross profit ratio along with the formula.

7.Funds Flow Statement

  • Define funds flow statement.
  • Clarify the meaning of funds from operation.
  • What do you mean by funds flow analysis?

8.Cost Accounting

  • Define cost in five sentences.
  • Mention any four objectives of costing accounting.
  • In five to six sentences write what you know about cost accounting.
  • Write two limitations of financial accounting.
  • Write any two functions of cost accounting.
  • State the importance of cost accounting.
  • Write any three advantages of cost accounting.
  • State two importance of cost accounting.
  • Write briefly any three functions of cost accounting.
  • Differentiate between cost accountancy and costing.
  • Give any two differences between Cost accounting and financial accounting.
  • Define cost accounting and mention any two function of it.
  • Mention any three limitations of cost accounting.
  • Define cost account. Also mention any two importance of cost account.
  • Write three differences between cost accounting and financial accounting.
  • Write any three objectives of cost accounting in brief.
  • Give any three importance of cost accounting.

9.Cost Classification

  • What are the elements of cost?
  • What do you mean by functional classification of cost?
  • Differentiate between direct and indirect cost.
  • Define fixed cost with suitable example.
  • what do you mean by cost?Write in short about direct cost.
  • What do you mean by direct and indirect materials?
  • Define variable and semi-variable cost.
  • Define direct expanses .Give two suitable examples of it.
  • Define semi-variable cost.Why is it called so?
  • Define indirect expanses with two suitable examples.
  • Define variable cost and write any two features of it.
  • Write about the controllable and uncontrollable costs with appropriate examples.
  • Define variable cost with suitable examples.
  • Differentiate between fixed and variable cost.

10.Accounting For Materials

  • Write any two duties of the storekeeper.
  • What is bin card?
  • What do you mean by material control system?
  • What is store keeping?
  • Write the meaning of perpetual inventory system.
  • Write any two objectives of material control.
  • What do you understand by codification of material?
  • Mention the procedures relating to materials.
  • What do you know about purchase requisition form?
  • What do you understand by decentralized stores?
  • Give a specimen of a bin card.
  • Write in brief , what do you know about material control.
  • Sketch a specimen of a purchase Requisition form.
  • Write the meaning of centralized and decentralized purchase.
  • Write any two objectives of inventory control.
  • What is purchase order? To whom the purchase order is placed and why?
  • Write three objectives of material control.
  • Briefly, write the duties of a storekeeper.
  • Mention any three essential of material control
  • Write in briefly any two objectives of material control.

11.Accounting For Labour

  • Write any four merits of piece rate system of wage payment.
  • Mention the four merits of time rate system of wages payments.
  • Write any two advantages of piece wages system.
  • Write any two Disadvantages of piece wages system.
  • Give any two advantages of wages payment under piece rate system.
  • Give any two disadvantages of time wages system.
  • Differentiate between piece wages system and time wages system in brief.
  • Write any two steps that should be taken to minimize the frauds in wage payment.
  • What is time rate system of wages payment?
  • Write the meaning of time and motion study.
  • What do you understand by time rate wages system?Mention its two advantages.
  • Write any three disadvantages of piece wages system.
  • Write with suitable examples about piece rate system of wages payments.
  • Mention any two differences between time wages system and piece wages system.
  • What do you mean by direct wages and indirect wage?

12.Accounting For Overheads

  • In five to seven sentences write the meaning of fixed overhead.
  • Classify overheads according to its functions.
  • Classify overhead cost according to control.
  • Write in brief the meaning of allocation of overhead.
  • What do you understand by allocation and apportionment of overhead?
  • Write in short the meaning of overhead.
  • Give the meaning of fixed overhead with appropriate example.
  • Define fixed overhead with suitable example.
  • Differentiate between allocation and apportionment of overhead with suitable example?
  • What do you understand by variable overhead?State any two features of it.
  • What do you mean by machine hour rate?
  • Define semi-variable overhead with suitable example.
  • Classify overhead cost according to function.
  • State in brief the meaning of overhead with suitable example.
  • Write the meaning of fixed and variable overhead.
  • Give the meaning of variable overhead with suitable example.
  • With suitable example write the meaning of variable overhead.

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