| ST. JOSEPH’S COLLEGE OF COMMERCE (AUTONOMOUS) | ||||||||||||||
| END SEMESTER EXAMINATION – SEPT/OCT.2015 | ||||||||||||||
| M.COM – I SEMESTER | ||||||||||||||
| P115 MC 101: FINANCIAL REPORTING & ANALYSIS | ||||||||||||||
| Duration: 3 Hours Max. Marks: 100 | ||||||||||||||
| SECTION – A | ||||||||||||||
| I. | Answer any SEVEN questions. Each carries 5 marks. (7×5=35) | |||||||||||||
| 1. | Annual report consists of cashflow and balance sheet, comment on the statement. | |||||||||||||
| 2. | What are the fundamental accounting assumptions? | |||||||||||||
| 3. | Write a short note on methods of valuation of cost of inventories. | |||||||||||||
| 4. | Write a note on Dupont analysis. | |||||||||||||
| 5. | Difference between Companies Accounting Standard Rules, 2006 and IND AS. | |||||||||||||
| 6. | Enumerate the meaning and Purpose of Financial Statement Analysis. | |||||||||||||
| 7. | What are the two methods of cashflow under AS 3. | |||||||||||||
| 8. | What do your mean by International Financial Reporting Standards ,explain with its applicability in the current economic scenario. | |||||||||||||
| 9. | Sally’s Retailers and Joe’s Retailers. Both of these companies operate in the same apparel industry and have the same return on equity ratio of 45 percent. This model can be used to show the strengths and weaknesses of each company. Each company has the following ratios, compute Dupont ratios:
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| 10. | Prescribe the classification and disclosure of certain items in the statement of profit and loss so that all enterprises prepare under AS 5. | |||||||||||||
| SECTION – B | ||||||||||||||
| II. | Answer any THREE questions. Each carries 15 marks. (3×15=45) | |||||||||||||
| 11. | What are the Tools and Techniques of Financial Statement Analysis? | |||||||||||||
| 12. | What are the three levels of enterprises, considered for the application of Accounting standards? | |||||||||||||
| 13. | What are the transactions covered under Accounting Standard (AS) 18- Related Party Disclosures | |||||||||||||
| 14. | a. From the following information, prepare the Cash Flow Statement for the year ended March 31, 2015 :
Particulars Rs. Opening Cash Balance 10,000 Closing Cash Balance 12,000 Decrease in Debtors 5,000 Increase in Creditors 7,000 Sale of Fixed Assets 20,000 Redemption of Debentures 50,000 Net Profit for the year 20,000
b. Explain Accounting Standard (AS) 10- Accounting for fixed assets. (7+8)
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| 15. | Write a note on Altman’s Z Score and its usage in analysis of financial statement. | |||||||||||||
| SECTION – C | ||||||||||||||
| III. | Case Study (1×20=20) | |||||||||||||
| 16 | a. Calculate Current Ratio from the following Information Liabilities Rs.
Sundry creditors 40000 Bills payable 30000 Dividend payable 36000 Accrued expenses 14000 Short-term advances 50000 Share Capital 150000 Debenture 200000 Assets 120000 Inventories 140000 Sundry debtors 40000 Cash at Bank 60000 Bills Receivable 20000 Machinery 200000 Patents 50000 Land & Building 150000
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| b. Explain segments as per AS 17.
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