B. Com. - Bachelor of Commerce (Hons.) 3rd Semester
Accounting and Finance: Accounting Theory and Reporting Practices
BCH-307
Time allowed: 3 Hours] [Max. Marks: 80
NOTE: Attempt four short answer type questions from Section-A. Attempt two questions each from Section B and C respectively.
Section - A
I. Attempt any four of the following: -
a) Contribution of Luca Pacioli towards accounting.
b) Explain the human information processing approach to accounting theory formulation.
c) Build a case in favour of accounting standard setting by public sector.
d) Need of conceptual framework of financial reporting.
e) Positive approach of accounting theory.
f) Principle of consistency.
Section - B
II. Define accounting. Who all are the users of accounting information?
III. What is meant by events approach of accounting theory? Explain its suitability in present scenario.
IV. Explain ethical and sociological approaches of accounting theory formulation.
V. Write short notes on: -
a) Free market approach to standard setting
b) Need to establish accounting standards
Section - C
VI. Write short notes on: -
a) Historical Cost Accounting Model
b) Net Realizable Value Accounting Model
VII. "The usefulness of financial information is enhanced if it is comparable, verifiable. timely, relevant, understandable and has faithful representation.' Elaborate.
VIII. Write a detailed note on structure of accounting theory.
IX. Critically evaluate predictive approach to formulation of accounting theory.
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