CO 1806 – ADVANCED CORPORATE ACCOUNTS

(Also equivalent to CO 1803)

Date & Time : 25-04-2006/1.00-4.00 P.M. Dept. No. Max. : 100 Marks

Part – A

Answer ALL questions 10 ´ 2 = 20

What do you mean by B List contributories?
Differentiate Double Insurance from Reinsurance.
Discuss the objective of accounting the Human Resource in a company.
When do you prepare valuation Balance sheet?
Explain the term “Non performing Assets”
State the different levels of remuneration due to various managerial personnel
Distinguish between commission on Reinsurance ceded and commission on Reinsurance accepted.
Show the disposal of profit, profit Rs.28,00,000 and Reasonable Return 24,00,000.
The Revenue a/c of a Life Insurance company showed a balance of Rs. 4,75,000 at the end of 2005 before considereing the following items (a) Bonus in reduction of premiums Rs.40,000, b) outstanding premiums Rs.1,00,0000, c) Interest accrued on investments Rs.20,000, d) claims intimated but not admitted 35,000, e) claims recovered under Reinsurance Rs.3,000.
What are the limitations of ‘Historical Accounting’ in a period of Inflation?

Part – B

Answer any FIVE questions 5 ´ 8 = 40

a) Describe the advances usually made by banks and shown under schedule 9.
b) Explain the term “Rebate on Bill discounted”
a) What are “Preferential payments” with regard to company liquidation?
b) In liquidation which commended on 1^st April, 1989 certain creditors could not receive payment out of the realization of the assets and out of contribution from List “A” contribution. The following are the details of certain transfers which took place after 1^st April, 1998: