Comprehensive Project (Not in Syllabus now)
- What is the difference between Accounting and Accountancy?
- What is non-cash transaction?
- What is the importance of Balance Sheet Equation?
- Which concept is the basis of Accounting Equation?
- Why is Money Measurement Principle considered a reason for being a limitation of Accounting?
- What is the main drawback of Cash Basis of Accounting?
- Is it true that Dr. and Cr. have no specific meaning?
- Give an example of an account having Dr. balance at one time and Cr. balance at another.
- Can you suggest a transaction that can break the Accounting Equation?
- Give an example of transaction that increases Capital and decreases Liability.
- What is Journal?
- What is the difference between an Account and Ledger?
- What is the purpose of Ledger?
- Out of Journal and Ledger which is more important and why?
- Why do we prepare subsidiary journals?
- What is the difference between Cash Account and Cash Book?
- What is contra entry?
- What are the main purposes of Trial Balance?
- Is Trial Balance 100% proof of accuracy of accounting work?
- What are the different types of errors?
- Small question on Identification of different types of errors.
- What is the main difference between Trial Balance and Balance Sheet?
- What do you mean by Marshalling of Balance Sheet?
- Why don't we use Dr. and Cr. on the Balance Sheet?
- Question on small example from Order of Permanence and Order of Liquidity.
- Small Question to identify Capital Income/expenditure and Revenue /Income/expenditure.
- Small Question to identify direct/indirect expenses.
- Small Question to identify operating/non-operating expenses.
- What are the components of Final Accounts of a Company?
- What have you done in your comprehensive project?
- Then questions about what the student has actually written in the first project i.e. Comprehensive Project, to know whether the student has actually gone through the procedure of making his project file and his understanding of the matter written in it.
There can be any question on place/treatment of any item in Statement of Profit and Loss/ Balance Sheet/Ratio Analysis/Cash Flow Statement.
The most important point is that an examiner has to check the authenticity of the work and knowledge of the candidate.
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